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South America News

Tesla tuck supercharges hopes for boom in battery metals demand

By: Bloomberg     Updated 6 hours ago Tesla’s plans to roll out an all-electric big rig have given a fresh jolt to the outlook for battery metals that will go into powering the truck founder Elon Musk is calling “The Beast.” Banks including Goldman Sachs Group, UBS Group and Bank of America are already forecasting a surge in demand... 

BHP-Vale deal distances Brazil mine from $53bn in lawsuits

By: Bloomberg     Updated 6 hours ago It came down to the wire, but BHP Billiton, Vale SA and their Samarco joint venture managed to close a deal with prosecutors that distances the companies from 175-billion reais ($53-billion) in lawsuits. Their lawyers filed documents late Thursday requesting that the presiding judge suspend two... 

BHP-Vale deal distances Brazil mine from $53bn in lawsuits

Brazil's Samarco mine sees need to cut staff by 600

By: Reuters     17th November 2017 Brazilian iron-ore miner Samarco has told unions it needs to cut 600 workers by December, the joint venture between Brazil's Vale and Anglo-Australian miner BHP Billiton said in a statement on Friday. Samarco said it would resume talks with unions Metabase Mariana and Sindimental on Friday... 

Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Sampling confirms lithium in Namibia – Montero
Montero CEO Dr Tony Harwood

BHP facing uncertain future as shareholders push for change

By: Esmarie Swanepoel     17th November 2017 Ratings agencies and analysts have raised concerns about the future of mining major BHP in the wake of actions taken by so-called activist shareholders. The mining giant’s second-largest holder of its London-listed shares, fund manager Elliot Associates & Elliot International, has been picking at... 

BHP facing uncertain future as shareholders push for change

ONGC remains committed to Venezuelan oil project

By: Ajoy K Das     16th November 2017 Despite a default in sovereign debt by Venezuela, Indian oil and gas major ONGC has clarified in a statement that it will continue implementation of the San Cristobel oilfield project, in the politically and economically embattled Latin American country. ONGC said this week that the November 2016... 

BHP eyes two-year exit from shale; also selling nickel

By: Reuters     16th November 2017 BHP Billiton said on Thursday it hopes to fully divest its troubled US onshore shale business in around two years and is also seeking a buyer for its nickel business in Australia. The renewed push to unload both sets of assets, which the world's biggest mining company no longer deems strategic,... 

BHP eyes two-year exit from shale; also selling nickel
BHP CEO Andrew Mackenzie

'Raj Pink' diamond fails to sell at Geneva sale – Sotheby's

By: Reuters     16th November 2017 "The Raj Pink", the largest known diamond graded "fancy intense pink" for its rare colour, was among several major jewels stranded on the auction block on Wednesday at Sotheby's sale in Geneva. The cushion-shaped stone, weighing 37.30 ct and mounted on a ring, was billed as the star lot at... 

Forecast iron-ore price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     15th November 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” said the firm on Wednesday, adding that,... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

By: Mariaan Webb     15th November 2017 German potash and salt producer K+S on Wednesday reaffirmed its earnings forecast for the full year, as it posted higher third-quarter revenue and earnings. The Kassel-headquartered company, which has production sites in Europe, North America and South America, increased its revenue by 6%... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

Better regulations needed to prevent tailings dam failures – UNEP

By: Megan van Wyngaardt     15th November 2017 In the last decade, there have been over 40 mining waste failures, killing some 341 people and damaging hundreds of kilometers of waterways, affecting drinking water sources and the livelihood of communities, a new report entitled ‘Mine Tailings Storage: Safety Is No Accident’, reveals. The... 

Better regulations needed to prevent tailings dam failures – UNEP

Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty

By: Reuters     15th November 2017 Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday. 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

Glencore is said close to creating mining royalty company
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m
Photo by Anfield Gold
Drill core from Anfield Gold's Coringa project, in Brazil, which is being acquired by Serabi Gold for $22-million

Afritin targets Africa tin champion title, Namibia project upscaled to commercial production 

By: Mia Breytenbach     14th November 2017 Following the demerger of Afritin Mining from Aim-listed Bushveld Minerals – and its subsequent listing as the only pure - play tin platform on the Aim last week – the company, which has assets in Namibia and South Africa, will focus on becoming “The Africa tin champion” by bringing its flagship... 

Afritin targets Africa tin champion title, Namibia project upscaled to commercial production
Afritin Mining CEO Anthony Viljoen discusses newly- Aim-listed Afritin Mining and its strategies. Video and Editing: Nicholas Boyd.

Sibanye declares US resource under Proudly South African code

By: Martin Creamer     14th November 2017 Precious-metals mining company Sibanye-Stillwater has completed a Competent Person’s Report on its platinum group metals (PGM) mineral assets, in Montana, in the United States. The report has been compiled under the South African Code for the Reporting of Exploration Results, Mineral Resources... 

Sibanye declares US resource under Proudly South African code
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

Global gold flows stable in Oct, gold ETFs add 3.3 t

By: Reuters     14th November 2017 Gold-backed exchange traded funds (ETFs) have added 3.3 t of gold to their global holdings during October, as outflows from North America mostly offset inflows in Europe, the latest data from the World Gold Council (WGC) shows. Global ETF gold holdings now total 2 347.6 t. 

Global gold flows stable in Oct, gold ETFs add 3.3 t

Argentina seeks to overtake Chile in South America lithium race

By: Reuters     14th November 2017 The giant pools of turquoise water in the mountainous deserts of northwest Argentina shimmer in the sunlight like oases and for lithium miners like Australia's Orocobre, that is exactly what they are. The mid-cap miner is one of several lithium producers stepping up investment in Argentina amid... 

Argentina seeks to overtake Chile in South America lithium race
Photo by Bloomberg
South America's salt flats provide ideal conditions to produce lithium products

Rio completes off-market buy-back

By: Esmarie Swanepoel     13th November 2017 Diversified giant Rio Tinto has completed a A$750-million off-market buy-back, with all shares purchased to be cancelled. The miner in September initiated the buy-back, which was increased from an indicative A$700-million, as part of its $2.5-billion share buy-back programme, returning the... 

Avanco ups gold resource by 45%

By: Esmarie Swanepoel     13th November 2017 ASX-listed Avanco Copper has reported a 45% increase in the resource estimate at its Centro gold project in, Brazil. The company on Monday reported a maiden resource estimate of 11.3-million tonnes, grading 1.6 g/t gold for 577 000 oz of gold at the Chega Tudo deposit, taking the combined... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International
Photo by Petra Diamonds
A 23.16 ct pink diamond recovered by Petra Diamonds, known as the 'Williamson' stone

Camborne School of Mines pioneers ‘Fairtrade’ model for ethically, sustainably resourced raw materials

By: Henry Lazenby     10th November 2017 A team of researchers at the University of Exeter’s Camborne School of Mines, based in Cornwall, the UK, are pioneering the development of a ‘Fairtrade’ model for ethically and sustainably resourcing raw materials that are crucial in the manufacturing of next-generation technologies. The research... 

Camborne School of Mines pioneers ‘Fairtrade’ model for ethically, sustainably resourced raw materials

South Africa crucial to global chrome supply, Chromium 2017 hears 

By: Martin Creamer     10th November 2017 South Africa is an irreplaceable supplier of chrome ore and ferrochrome, which is, in turn, an irreplaceable component of China-dominated stainless steel production, global delegates to last week’s well-attended Chromium 2017 conference heard. South Africa, as the dominant global chrome producer,... 

South Africa crucial to global chrome supply, Chromium 2017 hears
Tharisa Minerals COO Michelle Taylor at Chromium Conference covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Australia-Peru FTA to benefit mining industry

By: Esmarie Swanepoel     10th November 2017 The Minerals Council of Australia (MCA) on Friday welcomed the signing of a free trade agreement (FTA) with Peru, with interim CEO David Byers saying it would create significant new opportunities for Australia’s mining and mining services exports and investment. “The trade deal will immediately... 

Australia-Peru FTA to benefit mining industry

Mining technology gets boost from new Wits-Sibanye partnership

By: Martin Creamer     9th November 2017 Mining technology is being given a Fourth Industrial Revolution boost through the new partnership struck between precious metals mining company Sibanye-Stillwater and the Wits Mining Institute. Wits Mining Institute director Professor Fred Cawood outlined in a news release on Thursday that... 

Large oil traders escape EU's MIFID II trading rules, for now

By: Reuters     9th November 2017 Less than two months before strict European Union rules on derivatives come into force, most large oil traders have persuaded regulators to exempt them for now from limits on the positions they can hold, arguing they are not speculators. The EU's revamped Markets in Financial Instruments... 

Gold demand falls to 8yr low in Q3

By: Natasha Odendaal     9th November 2017 Global gold demand fell to an eight-year low in the third quarter of this year, following a “softer quarter” of demand in the jewellery sector and significantly lower inflows into exchange-traded funds (ETFs), the latest data from the World Gold Council (WGC) shows. The ‘Gold Demand Trends’... 

Gold demand falls to 8yr low in Q3

EY's Canadian Mining Eye Index trends positively in Q3

By: Creamer Media Reporter      9th November 2017 The EY Canadian Mining Eye index gained 2% during the third quarter, following a 7% decline in the prior period. The gain was driven by increases across the board in precious and base metals. "As commodity prices continue to increase, appetite for investment in existing projects is expected to... 

Kinross reports 35% dip in Q3 earnings on lower sales

By: Henry Lazenby     9th November 2017 Canadian major Kinross Gold has reported a 35% dip in third-quarter profit as metal sales fell, the company advised on Wednesday. The Toronto company reported adjusted net earnings attributable to common shareholders for the three months ended September of $84.1-million, or $0.07 a share,... 

B2Gold’s surprise Q3 profit props up stock despite 71% drop in headline earnings

By: Henry Lazenby     9th November 2017 Canadian multinational gold miner B2Gold has reported a stronger-than-expected third-quarter profit, despite its headline net profit – excluding special items – falling 71% year-over-year. The Vancouver-headquartered company reported an adjusted net income for the three months ended September of... 

B2Gold’s surprise Q3 profit props up stock despite 71% drop in headline earnings
Photo by B2Gold
B2Gold's new Fekola mine, in Mali

BMI forecasts bright spots in global aluminium industry

By: Megan van Wyngaardt     7th November 2017 Global aluminium producers are likely to experience solid financial recoveries in the year ahead, following years of financial austerity, as prices remain elevated, global research firm BMI said on Tuesday. This would result in targeted acquisitions of specific, value-added aluminium producers... 

BMI forecasts bright spots in global aluminium industry

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate
Photo by Creamer Media
Investing in African Mining Indaba MD Alex Grose (right) and Martin Creamer

Horizonte submits Araguaia mine plan to authorities

By: Mariaan Webb     7th November 2017 Nickel explorer and developer Horizonte Minerals has marked another permitting milestone for its Araguaia project with the submission of a mine plan Brazil’s National Mining Agency (ANM). ANM approval of the mine plan, together with approval of the mine construction licence, the permit of which... 

Stratex terminates CEO employment following blocked Crusader deal

By: Mariaan Webb     7th November 2017 Aim-listed Stratex International has confirmed that Marcus Engelbrecht is no longer CEO. In an update to shareholders following the results of last week’s general meeting where shareholders passed a resolution to remove Engelbrecht from the junior miner’s board, Stratex confirmed on Monday that... 

Argentina Lithium lays claim to entire salar within LatAm's 'Lithium Triangle'

By: Henry Lazenby     7th November 2017 The TSX-V-listed stock of energy metals junior Argentina Lithium & Energy shot up nearly 52% on Monday after the company announced that it had staked an entire salar, or salt flat, in Argentina's Incahuasi Salar and basin, in Catamarca province. The stock movement on Monday pays testament to the... 

Brazil regulator rejects Vale bid to change output target for railroad

By: Reuters     7th November 2017 Brazil's transportation regulator ANTT has rejected a request from Vale, the world's top iron-ore producer, to change its production goals for the Carajas Railroad this year, according to a notice by the Official Gazette on Monday. Production goals for Vale's Carajas project, the world's largest... 

DRC’s State mining company hiding revenues – Carter Center

By: Martin Creamer     6th November 2017 Certain revenues of Democratic Republic of Congo (DRC) State mining company Gécamines are not directed to the public treasury and are largely beyond the realm of public oversight, resulting in the DRC and its people being deprived of many of the benefits of its rich minerals endowment, the Carter... 

DRC’s State mining company hiding revenues – Carter Center
Former US President Jimmy Carter

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

AngloGold achieves strong Q3 performance, on track to meet FY guidance
Photo by Duane Daws
AngloGold CEO Srinivasan Venkatakrishnan
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