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Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-over-month in April as energy gains more than offset metals weakness. 

Troy says Karouni output to be at lower end of guidance

By: Mariaan Webb     27th May 2016 Gold miner Troy Resources advised shareholders on Friday that gold production at its Karouni mine, in Guyana, would be at the lower end of its guidance for 2016, owing to ongoing disruptions in the milling circuit. The company explained that contaminated lubrication oil was found to be the cause... 

Cleaver is new De Beers CEO

By: Martin Creamer     27th May 2016 Bruce Cleaver, 51, is the new CEO-designate of De Beers. He will take over from Philippe Mellier on July 1. After a half-decade at the helm, Mellier, who is ten years Cleaver’s senior, has honoured his commitment to step down as CEO after five years. 

Cleaver is new De Beers CEO
Photo by Creamer Media
New CEO-designate of De Beers Bruce Cleaver

WTI, Brent crude rises above $50 for first time this year

By: Henry Lazenby     26th May 2016 Hamstrung oil producers could on Thursday afford a brief sigh of relief as the prices of both West Texas Intermediate (WTI) and Brent crude rose briefly above the psychologically important $50/bl-mark in early trading. WTI hit a high of $50.21/bl around 08:00 Eastern Daylight Time, while Brent... 

WTI, Brent crude rises above $50 for first time this year

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     26th May 2016 The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Continually flipped Moz gold project goes for $17.5m
Photo by Duane Daws
Xtract CEO Jan Nelson

Lithium Australia joins forces with TSX-listed Alix to develop concession in Mexico

By: Samantha Herbst     26th May 2016 Following a memorandum of understanding signed Thursday, ASX-listed junior developer Lithium Australia has joined forces with TSX-listed Alix Resources to develop the lithium-extraction technologies needed to advance Alix’s lithium concessions – the Electra project – in Sonora, Mexico, earning... 

Colombia court rules local governments can restrict mining projects

By: Reuters     26th May 2016 Colombia's constitutional court on Wednesday struck down a law which requires mining permits be issued exclusively by the national government, a decision which could open the way for provincial and local authorities to restrict mining in their areas. The 2001 law, which forbid regional and local... 

Workers at Toromocho copper mine in Peru plan strike May 31

By: Reuters     26th May 2016 Workers at Chinalco Mining Corp International's copper mine Toromocho in Peru are planning a four-day strike on Tuesday to press for the reinstatement of a quarterly bonus tied to company results, the union said on Wednesday. 

Chile, SQM head to court after failing to reach agreement

By: Reuters     26th May 2016 Chile said on Wednesday that it would bring a recent dispute with fertiliser supplier SQM to court after a meeting with the company's executives failed to produce an agreement. The government's statement follows an announcement on Monday in which it said it was beginning a new arbitration... 

Explorer Altair secures 700 ha property next to HudBay’s Constancia mine in Peru

By: Henry Lazenby     26th May 2016 Canadian explorer Altair Gold has signed a binding letter of intent with a third party to acquire Epic Mining, which owns 99% of Panamericana, the 100% holder of the rights, title and interest in the 900 ha Lejin mineral property, in southern Peru. Altair advised that 700 ha of the Leijin... 

Russia, China add more gold reserves; Venezuela sells more

By: Reuters     25th May 2016 China and Russia, two of the largest holders of bullion, and Kazakhstan bolstered their gold reserves last month, while Venezuela sold off more of its bullion earlier this year, data from the International Monetary Fund showed on Tuesday. Extending a prolonged buying spree, Russia added 16.2 t... 

Vale to delist from Hong Kong exchange

By: Henry Lazenby     25th May 2016 Brazilian diversified mining major Vale has delisted from the Hong Kong stock exchange (HKEx) as part of the company’s simplification strategy. In a press release issued Tuesday, the Rio de Janeiro-based miner announced that the HKEx had approved the withdrawal of Vale´s HDRs – an informal name... 

New acid mine water process has huge agri potential in arid areas  

By: Martin Creamer     25th May 2016 The newly developed process that yields handsome profits by converting acid mine water into valuable fertiliser materials, also has the potential to process South Africa’s large volumes of currently unusable brackish groundwater. The use of the process that eradicates acid mine drainage (AMD) for... 

New acid mine water process has huge agri potential in arid areas
Photo by Duane Daws
Trailblazer Technolgies director John Bewsey

Capital Mining eyes another lithium acquisition

By: Mariaan Webb     25th May 2016 ASX-listed Capital Mining was in “advanced stage” negotiations about a lithium acquisition, the company revealed on Wednesday. Capital Mining, which earlier this month announced a sales and purchase agreement to buy Shaw River Lithium and its 13 prospecting licences in the Pilbara, said it was... 

Capital Mining eyes another lithium acquisition
The demand for lithium-ion batteries is increasing, prompting more junior mining companies to enter the lithium sector.

Anglo Pacific optimistic about higher 2016 royalty income

By: Creamer Media Reporter      25th May 2016 LSE- and TSX-listed Anglo Pacific expects its royalty income for the full 2016 financial year to be significantly higher than the £8.7-million earned in 2015. The company noted in a trading update on Wednesday that royalty income for the first quarter of the year, ended March 31, was... 

RBCT CEO to stand down

By: Martin Creamer     24th May 2016 Richards Bay Coal Terminal (RBCT) CEO Nosipho Siwisa-Damasane will be stepping down after four years at the helm. RBCT said on Tuesday that GM finance Alan Waller would be taking over as CEO from July 1, when GM strategy and compliance Casper Mbuyazi would assume the finance role. 

RBCT CEO to stand down
RBCT CEO Nosipho Siwisa-Damasane

New highly profitable acid mine water solution unveiled 

By: Martin Creamer     24th May 2016 A process has been developed that yields handsome profits by converting acid mine water into valuable fertiliser materials. The process, which purifies the water free of charge, removes all of the total dissolved solids and converts them into saleable products. 

New highly profitable acid mine water solution unveiled
Photo by Duane Daws
Trailblazer director John Bewsey (right) and Martin Creamer

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

Venezuela to rejoin global group fighting conflict diamonds

By: Reuters     24th May 2016 Venezuela expects to rejoin the global watchdog established to stop trade in conflict diamonds as it seeks to resume diamond exports, its central bank director said on Tuesday. "We are certain we will rejoin this year," Jose Khan told Reuters on the sidelines of an international meeting of the... 

De Beers ‘encouraged’ by stable rough diamond demand

By: Creamer Media Reporter      24th May 2016 Although De Beers’ rough diamond sales were lower for the fourth sales cycle of this year than in the third, the diamond miner said it was “encouraged by the continued stability of demand for rough diamonds”. De Beers sold about $630-million of diamonds in the fourth sales cycle up to May 23,... 

De Beers ‘encouraged’ by stable rough diamond demand

Peru declares mining-related emergency in remote part of Amazon

By: Reuters     24th May 2016 Peruvian President Ollanta Humala has declared a 60-day emergency in a remote part of the Amazon to curb high levels of mercury poisoning from rampant illegal gold mining, the country's environment minister said on Monday. A growing number of studies show that residents of the Madre de Dios... 

Peru declares mining-related emergency in remote part of Amazon

Bacanora raises $11.2m for Sonora lithium project

By: Samantha Herbst     23rd May 2016 TSX-V- and Aim-listed project developer Bacanora Minerals has raised $11.2-million for its Mexico-based Sonora lithium project, which is considered one of the largest lithium resources worldwide. Bacanora raised the funds through a share placement of 9.75-million shares at 79p a share, with... 

First permanent infrastructure being built at new DRC tin mine

By: Martin Creamer     23rd May 2016 The first permanent mining infrastructure is being built at the proposed new tin mine at Bisie, in the Democratic Republic of Congo (DRC), for which $130-million is being raised. Alphamin Resources CEO Boris Kamstra said the return airway drive being built would be used to acclimatise mining... 

First permanent infrastructure being built at new DRC tin mine
Photo by Duane Daws
Alphamin CEO Boris Kamstra

Workers at BHP Billiton's Spence mine in Chile go on 24-hr strike

By: Reuters     23rd May 2016 Workers at BHP Billiton's Spence mine in northern Chile went on a 24-strike on Monday due to a contractual dispute, a union official told Reuters. Workers there previously went on a 24-hour strike earlier in May, as the union demanded improvements in labour conditions and to protest alleged... 

Regulator asks China Molybdenum how it will finance Brazil buy

By: Reuters     23rd May 2016 China Molybdenum (CMOC) said Chinese regulators have asked it to disclose how it will finance its $1.5-billion acquisition of Anglo American Plc's niobium and phosphates business in Brazil. The request comes after CMOC, one of China's largest producers of molybdenum, agreed to buy... 

Mining licence fees now SMS-enabled in forward-striding Tanzania

By: Martin Creamer     20th May 2016 The Tanzanian online mining cadastre system now allows licence holders to request the total licence fees they owe via short message service (SMS). The addition of SMS extends the range of payment functionality that the Ministry of Energy and Minerals offers to its customers, the FlexiCadastre... 

Mining licence fees now SMS-enabled in forward-striding Tanzania
Tanzanian president John Magufuli

Gold heads for biggest weekly drop in eight on Fed rate outlook

By: Reuters     20th May 2016 Gold steadied after two days of losses on Friday, but was set for its biggest weekly slide in eight weeks on the back of a firmer dollar and indications from the US Federal Reserve that it could raise interest raise rates sooner than expected. New York Fed President William Dudley said on... 

Yamana to buy Samco’s Corina project after P&O agreement cancelled

By: Henry Lazenby     20th May 2016 TSX-V-listed explorer Samco Gold has terminated a 2014 participation and option (P&O) agreement with director Dr Ricardo Auriemma after a strategic review of its business, instead opting to enter into an agreement with Yamana Gold for the sale of the company's Corina property, located adjacent to... 

Mitsui looking to close deal to acquire stakes in Vale’s Moz operations by next March

By: Keith Campbell     20th May 2016 Japanese general trading company Mitsui & Co, part of the Mitsui group, has stated that it plans to close its deal with Brazilian mining and logistics group Vale to acquire stakes in the latter’s Mozambican operations by March next year. In December 2014, Mitsui & Co agreed to buy 15% of Vale... 

Too costly to shut: Mine sales stumble on looming clean-ups

By: Reuters     19th May 2016 Major miners are trying to avoid hundreds of millions of dollars in closure costs by selling off pits, as cash is tight due to a prolonged commodities price slump, but the crippling cost of environmental rehabilitation makes it tough to seal deals. Where mine sales have gone ahead, production is... 

Too costly to shut: Mine sales stumble on looming clean-ups
BHP Billiton held on to its loss-making Nickel West operation after failing to find a buyer. The business is estimated to have $1-billion in closure liabilities.

Transparency equals bankability, World Diamond Congress hears

By: Martin Creamer     19th May 2016 The large number of bad-debt bankruptcies in the diamond industry in recent years was aired on the second day of the 37th World Diamond Congress in Dubai, where much emphasis was again placed on the critical need for financial transparency. De Beers commercial development head Howard Davies drew... 

Transparency equals bankability, World Diamond Congress hears
World diamond top-brass Rony Unterman, Ernie Blom, Yoram Dvash, Julien Drybooms

Peru's Fujimori takes tough stance on Southern Copper Tia Maria project

By: Reuters     19th May 2016 Peruvian presidential contender Keiko Fujimori said it would take "many years" for Southern Copper to regain the trust of farmers, which she said is part of the community support she considers critical to developing the company's $1.4-billion Tia Maria copper project. The centre-right candidate... 

Blue diamond soars to world record $57.6m at Christie's

By: Reuters     19th May 2016 The Oppenheimer Blue, a large and rare diamond, sold for 56.837-million Swiss francs ($57.6-million) at an auction on Wednesday, setting a world record for any gem after a dramatic see-saw bidding process, said Christie's in Geneva. "It's the most expensive jewel ever sold at auction," Christie's... 

Santacruz completes technical study on Veta Grande prospect

By: Henry Lazenby     18th May 2016 Santacruz Silver Mining has completed an independent technical report on the Veta Grande project, in Zacatecas state, Mexico, marking a first step in the TSX-V-listed company's planned systematic review of its mineral prospects located in the region and forming a basis for further exploration and... 

Chile economy grows 1.3% in Q1, slightly above forecast

By: Reuters     18th May 2016 Chile's gross domestic product grew by 1.3% in the first quarter from the last quarter of 2015, the central bank said on Wednesday, boosted by rising exports. 

Antofagasta signs community deal in Chile, ending mine legal battle

By: Reuters     18th May 2016 Chilean copper miner Antofagasta said on Wednesday it signed an agreement with a local community that has long opposed the tailings dam at its Los Pelambres flagship mine, ending protests and a legal battle that sought to have the dam demolished. Residents of the small town of Caimanes in... 

Diamonds no longer forever as miners seek new marketing polish

By: Reuters     18th May 2016 The Diamond Producers' Association (DPA), set up last year, to spur demand, will launch a slogan early in June to replace "diamonds are forever", viewed as one of the most successful campaigns of all time but in need of updating, it said on Wednesday. Diamond demand has stagnated, subdued by a... 

Best friends? Anglo keeps De Beers' diamonds

By: Reuters     18th May 2016 Mining group Anglo American has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch. The group, in which Anglo American has an 85% stake, has seen its market share... 

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