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Graphite price index falls 3 percentage points

By: Henry Lazenby Weak end-markets had caused finer mesh grades of graphite to slip further as summer sales failed to see a seasonal upswing, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. The Benchmark Graphite Index fell a further three percentage points in June, down... 

Greece, China woes trigger fresh rout, led by oil, copper

By: Reuters Commodities prices dropped to their lowest in nearly three months on Monday, dragged lower by a fresh rout in oil and copper as Greece's rejection of debt bailout terms and China's stock market woes unleashed a fresh round of selling. Gold eked out small gains, one of only five commodities to... 

China Molybdenum says ready to make $2.15bn mine acquisition

By: Reuters China Molybdenum Luoyang Co is poised to make an offer for an overseas mining project costing up to $2.15-billion, the latest push by a Chinese enterprise to acquire resource assets beyond its borders. Officials from China Moly, as it is known, could not be immediately contacted for further... 

China Molybdenum says ready to make $2.15bn mine acquisition

Bowmore closes first tranche of private placement, board member resigns

By: Creamer Media Reporter TSX-V-listed Bowmore Exploration has closed the first $355 600 tranche of a nonbrokered private placement with Canadian investors. The precious metals-focused exploration mining company noted on Friday that the gross proceeds raised from the placement were to be used to incur Canadian exploration... 

Oil, steel, base metals fall on Greek 'no' vote, China market turmoil 

By: Reuters Most commodity prices suffered falls on Monday, compounding worries about oversupply, after Greece rejected terms for a bailout and top consumer China unleashed emergency measures over the weekend to prevent a full-blown stock market crash. Brent crude fell below $60 per barrel on Monday, to... 

Rhodium slides to its lowest in more than a decade

By: Reuters Rhodium prices slid to their lowest level in more than a decade on Friday, suffering along with other platinum group metals from perceptions that the metal, widely used in the car industry, is in plentiful supply. Rhodium fell to $790 an ounce on Friday, its weakest since March 2004, extending... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

Strata-X Energy appoints Greg Hancock nonexecutive director

By: Creamer Media Reporter TSX-V- and ASX-listed Strata-X Energy has appointment Greg Hancock as a nonexecutive director effective immediately, following the resignation of Don Schurman on Wednesday. Strata-X president Tim Hoops said on Thursday that Hancock’s extensive knowledge of corporate finance and capital markets in... 

Supply of quality copper concentrate shrinks, sows seeds of price support

By: Reuters Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn... 

Supply of quality copper concentrate shrinks, sows seeds of price support

McEwen Mining falls below NYSE listing requirements

By: Creamer Media Reporter Dual-listed McEwen Mining has fallen below the NYSE continued listing requirement related to the price of its common stock. "We do not believe that McEwen Mining's current share price is reflective of the true value of the company's assets. Our share price has been under pressure as a result of... 

China to lift ban on entry of miner Vale's mega-ships

By: Reuters China said on Friday it will allow 400 000-deadweight tonne (dwt) ships to dock at its ports, officially ending a more than three-year ban that had effectively shut out Brazilian miner Vale SA's giant vessels. Four domestic ports - Qingdao, Dalian, Tangshan Caofeidian and Ningbo - will be allowed... 

Anglo plans major job cuts, sources say, as investors push for bolder overhaul 

By: Reuters Anglo American is planning to cut between 5% and 20% of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. The mining company, which employs some 151 200 staff globally, is... 

Rejected mine water plan deprived 7 000 of jobs – Robinson 

By: Martin Creamer The rejection of a still-workable mine water and slimes dam plan at the stricken Grootvlei gold mine on Gauteng’s East Rand deprived 7 000 squatter camp dwellers of employment and set the mine on its downward trajectory, which has arguably ended up as the harshest aspect of the Aurora liquidation... 

Rejected mine water plan deprived 7 000 of jobs – Robinson
Photo by Daune Daws
Dr RE (Robbie) Robinson (right) and Martin Creamer

Walsh calls on miners to dispel gloom 

By: Esmarie Swanepoel The CEO of mining giant Rio Tinto has called on the resources industry to dispel the gloom and said it should remind shareholders of the longevity of the industry in order to maintain investment in the sector. Speaking in Melbourne, Sam Walsh noted that investment in the sector in the long-term... 

Walsh calls on miners to dispel gloom
Photo by Bloomberg
Rio Tinto CEO Sam Walsh

Chile injects copper miner Codelco with $225m in fresh capital

By: Reuters Chile's government said it will inject $225-million in capital into state-owned copper miner Corporacion Nacional del Cobre , known locally as Codelco, to help fund its ambitious investment plans. The funds will come from Codelco's 2014 profits, as the company gives all its profits to the state,... 

ArcelorMittal Mexico unit to slash 2 800 jobs

By: Reuters ArcelorMittal, the world's largest producer of steel, will cut 2 800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs. Altos Hornos... 

ArcelorMittal Mexico unit to slash 2 800 jobs

Work with govt to simplify mining policy – Rossouw

By: Martin Creamer The time had come for the private sector to start making it clear that it wished to work with government to simplify mining policy and collaborate towards less regulation and greater implementation. “Step up and get involved in providing meaningful information and honest comment,” thought leader... 

Work with govt to simplify mining policy – Rossouw
Photo by Duane Daws
Mike Rossouw

Sierra Gorda copper mine in Chile begins commercial production

By: Reuters Sumitomo Metal Mining (SMM), Japan's second-largest copper producer, said on Wednesday the Sierra Gorda mine in Chile that it owns jointly with Polish producer KGHM Polska Miedz began commercial production at the end of June. The mine had been operating for more than 60 days at 65% of its... 

Sierra Gorda copper mine in Chile begins commercial production

Chile copper output rises 2.1% in May

By: Reuters Chile, the world number one copper producer, had output of 508 245 t of the red metal in May from the year before, boosted by new projects and operational improvements at an unidentified "important" processing plant, government statistics agency INE said on Tuesday. Copper production increased... 

Mine mechanisation linked to local equipment retains jobs – Jourdan 

By: Martin Creamer Resource development strategist Dr Paul Jourdan this week called for the local manufacture of mechanised mining equipment to neutralise job losses during the switch to machines. The former Mintek president says that even though mechanisation “massively” increases the quality of work in mines and... 

Mine mechanisation linked to local equipment retains jobs – Jourdan
Photo by Creamer Media
Paul Jourdan

KWG acquires 100% chromium IP

By: Sashnee Moodley Chromite explorer KWG Resources reported on Monday that it had acquired 100% ownership rights in two US provisional patent applications relating to the production of chromium iron alloys directly from chromite ore and the production of low carbon chromium iron alloys directly from chromite... 

Global mining exploration in crisis, but not hopeless – report

By: Megan van Wyngaardt Global mineral exploration is in crisis, but mining companies can turn their exploration performance around. “Finding orebodies is not all about luck and success is not unpredictable. And while some companies struggle to replace depleted reserves, those that act in a countercyclical way – that... 

Global mining exploration in crisis, but not hopeless – report

BHP announces group management committee changes

By: Creamer Media Reporter BHP Billiton health, safety and environment (HSE) and marketing and technology president Dean Dalla Valle will take responsibility for the diversified miner’s potash portfolio from August 1. In addition to being chief commercial officer in charge of potash, he would retain responsibility for HSE,... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

New report outlines value of copper exploration

By: Megan van Wyngaardt When looking at global exploration budgets for copper, which reached $11-billion in 2010, it is evident that the ferrous metal carries perennial importance, mining analysis company SNL Metals & Mining says in its Copper Discoveries 1990-2014 report, released on Monday. “After almost doubling by... 

New report outlines value of copper exploration

Gold climbs as fears over Greece knock stocks, euro

By: Reuters Gold rose on Monday as growing fears over the prospect of a Greek debt default battered European shares and weighed on the euro, but it failed to maintain early sharp gains as investors remained wary of its longer-term outlook. European shares tumbled more than 2% and the single currency slid as... 

Revelo agrees to extend Chilean acquisition timeframe

By: Megan van Wyngaardt Canadian exploration company Revelo Resources has agreed to an extension to the letter of intent for the acquisition of four properties from diversified mining royalty company Altius Minerals's 49%-owned Chilean subsidiary BLC SpA. TSX-listed Revelo also received approval to privately place... 

Chesapeake to use desalination plant for Mexico project

By: Megan van Wyngaardt Chesapeake Gold plans to use desalinated seawater from the Pacific coast to supply water for its 100%-owned Metates project, in Durango state, Mexico. “Besides the economic benefits, desalination decouples the water supply and demand for Metates. In the event of a possible drought, desalination... 

Growth, productivity headwinds biggest threats to mining – EY

By: Natalie Greve Procyclical behaviour and short-term focused shareholders have pushed the “switch to growth” to the top of EY’s ranking of business risks facing mining and metals companies globally, the professional services firm revealed in a report released on Monday. The ‘Business risks in mining and metals... 

Growth, productivity headwinds biggest threats to mining – EY

Lake Shore reports second gold discovery at 144

By: Tracy Hancock Dual-listed Lake Shore Gold has discovered a new gold zone, 144 Gap SW, at its 144 exploration area, immediately south-west of the Timmins West mine’s Thunder Creek deposit, in Northern Ontario. “The location of the 144 Gap SW zone is very attractive as it will be easily accessible by further... 

Teck suspends Quebrada Blanca cathode production after ground movement

By: Reuters Canada's Teck Resources Ltd said it will suspend copper cathode production at its Quebrada Blanca operations in northern Chile after unexpected ground movement was observed near its plant on Thursday. The duration of the production interruption and impact on production are unknown, the base... 

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