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Canadian fed and Ontario gov’ts unveil supports for mining industry

By: Henry Lazenby     Updated 4 hours ago Several federal departments of the Canadian government, as well as the Ontario provincial government on Sunday unveiled new measures and investments to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Kibo enters two JVs with Metal Tiger for gold and uranium projects

By: Megan van Wyngaardt Tanzania focused exploration and development company Kibo Mining has completed due diligence on its Morogoro South gold-prospective exploration portfolio and has started its 50/50 joint venture (JV) activities with investing company Metal Tiger. The portfolio, which consists of 18 licences,... 

Kibo enters two JVs with Metal Tiger for gold and uranium projects

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

Alliance rejects Quasar’s A$57.6m offer for Four Mile stake

By: Esmarie Swanepoel ASX-listed Alliance Resources on Monday rejected a A$57.6-million offer from its joint venture partner Quasar Resources to gain full control of the Four Mile uranium project, in South Australia. The offer was made for Alliance’s 25% share of the project and for its share of the uranium oxide... 

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EPA approves expanded Wiluna plan

By: Esmarie Swanepoel The Western Australian Environmental Protection Authority (EPA) has approved the environmental scoping document for the Wiluna project extension, developer Toro Energy reported on Wednesday. Under the expansion project, Toro would integrate the Millipede and Lake Maitland deposits into its... 

Opposition calls on President to back Minister on developmental pricing issue

By: Martin Creamer Amidst apparent disagreement in his Cabinet about mining policy, President Jacob Zuma needed to step in and provide leadership so that potential mining investors had certainty about South Africa’s mining policy, Shadow Democratic Alliance (DA) Mineral Resources Minister James Lorimer has urged in... 

Opposition calls on President to back Minister on developmental pricing issue
Photo by DA.org.za
James Lorimer

Anatolia's Turkish project proves profitable

By: Esmarie Swanepoel A prefeasibility study (PFS) into the Temrezli ISR uranium project, in Turkey, confirmed the project to be technically low risk, but highly profitable, ASX-listed Anatolia Energy reported on Monday. The PFS was based on a central processing plant delivering 1.2-million tonnes a year of uranium... 

Rio Tinto reports fire at Namibia uranium mine

By: Natalie Greve Rio Tinto has reported that a fire that broke out at its Namibia-based Rössing uranium mine’s final product recovery (FPR) plant, on Thursday, has been successfully brought under control and extinguished. The origin and cause of the fire, which broke at about 13:00 on Thursday, as well as the... 

Paladin raises $100m from convertible bonds

By: Esmarie Swanepoel Uranium miner Paladin Energy has successfully raised $100-million through convertible bonds, with the company maintaining the right to issue a further $50-million of senior, unsecured convertible bonds within the next 30 days. The senior unsecured convertible bonds, which were due in 2020, were... 

Paladin sales revenue drops on lower volumes, weaker prices

By: Esmarie Swanepoel Dual listed uranium miner Paladin Energy has reported a near $70-million drop in sales revenue for the interim period ended December, compared with the previous corresponding period. The ASX- and TSX-listed miner on Thursday reported that sales revenue for the six months declined to... 

Resources sector welcomes South Australia nuclear commission

By: Esmarie Swanepoel The Australian resources sector has welcomed the South Australian government’s decision to appoint a Royal Commission to consider the state’s nuclear energy potential. Premier Jay Weatherill appointed former South Australian Governor Kevin Scarce to lead the commission in considering the role... 

Resources sector welcomes South Australia nuclear commission

Cameco lifts Q4 earnings 14% on better uranium prices

By: Henry Lazenby Canadian uranium producer Cameco on Friday reported that its fourth-quarter net earnings rose 14% to C$73-million, or C$0.18 a share, or C$9-million year-on-year over the C$64-million, or C$0.16 a share, recorded a year earlier, as the average realised uranium price in the period increased by 6%... 

ERA widens full-year loss

By: Esmarie Swanepoel Uranium miner Energy Resources of Australia (ERA) on Friday reported an increase in its after-tax loss to $188-million for the full year ended December, compared with a loss of $136-million in 2013. Earnings during the full year were impacted by the requirement to purchase uranium oxide (U3O8)... 

Aldrin enters into Key Lake option agreement with Fission 3.0

By: Henry Lazenby Project generators Aldrin Resource Corp and Fission 3.0 have entered into an option agreement that could see Aldrin acquire interest of up to a 50% in Fission’s Key Lake property package in the south-eastern Athabasca basin region. Under the terms of the option agreement, Aldrin had agreed to... 

Japanese may have key to unlocking Springbok Flats coal 

By: Martin Creamer The Japanese may have the key to the unlocking of South Africa’s Springbok Flats where uranium contamination has inhibited coal mining for decades. XMP Consulting geologist Gerhard Esterhuizen has told the IHS Energy South African Coal Exports Conference 2015 that the Japanese claim to have a... 

Japanese may have key to unlocking Springbok Flats coal

Canada's Western Uranium targets Black Range

By: Esmarie Swanepoel Uranium developer Black Range Minerals has become a takeover target for Canada’s Western Uranium Corporation, which on Friday launched an A$18.5-million offer for the Australian company. Western Uranium was offering one of its own shares for every 750 Black Range shares held, with the offer... 

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Investors to blame for supporting dithering juniors

By: Henry Lazenby In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

Paladin lowers 2015 guidance, studies reopening of Malawi mine  

By: Esmarie Swanepoel Uranium miner Paladin Energy on Monday reported a 79% quarter-on-quarter increase in sales revenue for the three months ended December. Total sales for the December quarter reached 1.91-million pounds uranium oxide (U3O8), with an average selling price of $36.58/lb, generating revenue of... 

Ministerial talk of a South African mining champion pleases analyst 

By: Martin Creamer Talk of restoring the lost iconic status of the South African mining industry has gladdened the London-based Investec Global Research Team. “We’re glad to see growing political pressure in South Africa to restore the premier status of the mining industry,” the analyst team said in a note on Friday. 

Ministerial talk of a South African mining champion pleases analyst
Photo by Duane Daws
Minerals Minister Ngoako Ramatlhodi

Kibo, Metal Tiger move to formalise uranium exploration JV

By: Natalie Greve Tanzania-focused miner Kibo Mining has received confirmation from London-listed Metal Tiger that it is satisfied with the results of its due diligence on Kibo's prospective Pinewood portfolio and will now proceed to finalise a joint venture (JV) agreement for uranium exploration with Kibo. Kibo... 

ERA ups output at Ranger

By: Esmarie Swanepoel Uranium miner Energy Resources of Australia (ERA) has reported a slight increase in its December quarter production, compared with the three months to September, as production from the Ranger mine continued to ramp up. During the three months to December, the Ranger mine, in the Northern... 

Fission Uranium rises on reporting of resource estimate for ‘Triple R’ deposit

By: Henry Lazenby Athabasca basin explorer Fission Uranium's shares were trading up to about 23% higher on the TSX on Monday morning, after spurring investor interest by publishing an independent resource estimate for the ‘Triple R’ deposit at its Patterson Lake South property, in Northern Saskatchewan. The... 

Fission Uranium rises on reporting of resource estimate for ‘Triple R’ deposit
Photo by Fission Uranium
Patterson Lake South, Northern Saskatchewan

Cauldron wins approval for Minderoo uranium exploration

By: Esmarie Swanepoel Western Australian Mines and Petroleum Minister Bill Marmion has thrown his backing behind ASX-listed Cauldron Energy’s exploration of uranium tenements in the Pilbara. In February last year, the Mining Warden recommended that Marmion refuse Cauldron Energy’s applications for three new uranium... 

Paladin reports spill at Malawi mine after minor storm

By: Esmarie Swanepoel Uranium miner Paladin Energy has launched protection and remediation procedures at its Kayelekera mine site, in Malawi, after heavy rainfalls resulted in minor damages. The miner said on Wednesday that a minor storm earlier this week had resulted in some 25 mm of rain falling at the site. The... 

Macusani Yellowcake completes Azincourt resource integration, mulls rebranding

By: Henry Lazenby Peru-focused uranium explorer Macusani Yellowcake has completed integrating the resource model data it had assimilated through its takeover of Azincourt Resources last year, lifting the compliant combined measured and indicated resources by 18.2-million pounds of uranium. The Canadian explorer... 

Energy Fuels and Uranerz merger to create largest integrated US uranium producer

By: Henry Lazenby Uranium producer Energy Fuels has agreed to buy Uranerz Energy in an all-scrip deal valued at about $150-million, which would see the two companies create one of the largest integrated uranium companies in the US. Energy Fuels on Monday said the deal would create the only integrated conventional... 

Energy Fuels and Uranerz merger to create largest integrated US uranium producer

Paladin refutes Malawi waste discharge claims

By: Esmarie Swanepoel Uranium miner Paladin Energy has slammed reports by nongovernment organisations (NGOs) in Malawi, implying that the company had begun discharging waste materials from the Kayelekera mine into the local river system. Paladin officially ceased uranium production at Kayelekera in May last year,... 

Paladin refutes Malawi waste discharge claims

Vimy adds to Mulga Rock resource

By: Esmarie Swanepoel Uranium developer Vimy Resources, previously known as Energy and Minerals Australia, has reported a 60% increase in the resource estimate at Princess deposit, at its Mulga Rock uranium project in Western Australia. The Princess deposit is now estimated to host a resource of 3.8-million tonnes,... 

Peninsula secures funding for Lance construction

By: Esmarie Swanepoel US-focused Peninsula Energy has signed a $69.4-million funding deal to fund the remaining construction and Stage 1 ramp-up of its Lance uranium project, in Wyoming. The fully underwritten institutional funding included a $16.8-million placement to Resource Capital Fund, with the shares priced at... 

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