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Seize opportunity to improve mining tax, pleads KPMG’s Saloojee

By: Martin Creamer South Africa should seize the current timely opportunity to amend its mining taxation in a manner that encourages foreign investment, stimulates prospecting, gets mining companies to start dealing with marginal mines and gives enough back to the fiscus for the benefit of this country's people,... 

Noront Resources consolidates position in Ontario’s Ring of Fire for a bargain 

By: Henry Lazenby Northern Ontario’s emerging minerals-rich Ring of Fire (RoF) mining camp has a new champion after US-focused iron-ore producer Cliffs Natural Resources agreed to bow out of the prospective region by selling its claims to explorer Noront Resources for $20-million. Noront, which was currently in... 

Noront Resources consolidates position in Ontario’s Ring of Fire for a bargain

Zijin Mining acquires 9.9% stake in Ivanhoe Mines

By: Megan van Wyngaardt TSX-listed miner Ivanhoe Mines has entered into a $82-million deal with Chinese Zijin Mining Group to boost the miner’s working capital and available funds for general corporate purposes, including the advancement of the company’s projects in Africa. Under the terms of the deal, the Chinese... 

Zijin Mining acquires 9.9% stake in Ivanhoe Mines
Photo by Duane Daws
Robert Friedland

Glencore opts for squeaky clean

By: Martin Creamer Mining and marketing giant Glencore on Thursday took the unprecedented step of signing a major human rights commitment with a top human rights body, in a bid to keep its activities beyond reproach and squeaky clean. In its latest step of many recent steps to keep the company firmly on mining's... 

Glencore opts for squeaky clean
Photo by Duane Daws
Ivan Glasenberg

Zinc treatment charges settled 10% higher – report

By: Reuters Zinc treatment charges have been settled 10% higher at $245/t of concentrate between Canada's Teck Resources and commodities group Glencore due to a well-supplied market, Metal Bulletin reported. The deal, based on a zinc price of $2 000/t, marked an increase from $223/t last year, the... 

Zinc metal deficit expected to intensify – Glencore

By: Martin Creamer The zinc metal market’s 2014 deficit is expected to intensify this year, Glencore says in its latest annual report. The 200-page document, in which CEO Ivan Glasenberg notes slower than expected post-financial-crisis normalisation, positions the company as one able to react quickly and benefit... 

Zinc metal deficit expected to intensify – Glencore
Photo by Duane Daws
Ivan Glasenberg

Bisha mine processing plant shut down for repairs

By: Sashnee Moodley The processing plant at TSX-listed Nevsun Resources’ Bisha mine, in Eritrea, would be shut down for about two weeks to resolve a mechanical setback with the ball mill.  The company said in a statement on Friday that the temporary shutdown would not negatively impact its 2015 full-year production... 

Exxaro at BEE crossroads 

By: Martin Creamer Black economic-empowerment (BEE) transactions are under scrutiny at Exxaro Resources as existing BEE deals head towards their deadlines after ten years of providing licences to operate. The original 26% BEE shareholdings, transacted in 2006 with a 2016 expiry date, must now either be sold off to... 

Exxaro at BEE crossroads
Photo by Duane Daws
Sipho Nkosi

Nevada Zinc starts trading on TSX-V under new name, ticker

By: Henry Lazenby Explorer Goldspike Exploration on Friday started trading on the TSX-V under its new name, Nevada Zinc, and new ticker symbol, NZN. The company has completed a vertical amalgamation between Goldspike and its former subsidiary Nevada Zinc. 

Glencore commits to migrating first world safety to third world countries 

By: Martin Creamer Diversified major Glencore, which reported 16 fatalities last year, has committed itself to migrating first-world safety practices into challenging geographies where more than 80% of the deaths took place. The London-, Hong Kong- and Johannesburg-listed company’s SafeWork programme – in which 118... 

Glencore commits to migrating first world safety to third world countries
Photo by Duane Daws
Ivan Glasenberg

Zinc market to reach ‘pinch point’ in 2016/17 as mine closures outweigh new output

By: Henry Lazenby Profit margins for zinc miners will probably rise strongly over the next five years, boosted by expected price increases on the back of a widening supply deficit. According to advisory firm Wood Mackenzie (Woodmac) analyst Jonathan Leng, the next two years, 2016 and 2017, represented the “pinch... 

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment

By: Henry Lazenby When the Quebec government’s Plan Nord to develop the parts of the province located north of the 49th parallel was launched under Jean Charest’s Quebec Liberal Party in May 2011, it was heralded as a timely and necessary act in the mining industry’s favourable economic context at the time. But a... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment
Photo by Reuters
Former Quebec Premier Jean Charest unveiled the Plan Nord on May 9, 2011.

Eagle-eyed investors urged to seek out rich pickings among juniors

By: Simon Rees The worst of the mining industry’s declines are over, although it now faces a trough of uncertain length, the head of Kaiser Research Online John Kaiser told an audience at the Prospectors & Developers Association of Canada 2015 convention. “But now it’s time to get serious – to get out there and... 

Mitsui cuts zinc premiums for first time in 6 years as China exports rise

By: Reuters Japan's biggest zinc smelter, Mitsui Mining and Smelting, has slashed its annual premiums to overseas buyers for 2015 by around 10%, marking the first cut in six years as rising exports by top user China spill into the region. Premiums are a surcharge paid to producers on top of futures prices to... 

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Canadian fed and Ontario govts unveil supports for mining industry

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

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

Aus explorer exercises option to acquire two US projects

By: Henry Lazenby Australian explorer Carnavale Resources has exercised an option to acquire private firm Tojo Minerals, which has the rights to the Red Hills project, in Nevada, and the Little Butte project, in Arizona. Perth, Australia-based Carnavale said in a statement that it would move to immediately ramp-up... 

Anglo's zinc loss now Vedanta's sweet gain

By: Martin Creamer London-listed diversified mining company Vedanta Resources has found itself in a sweet spot as the owner of the zinc assets that Anglo American saw fit to sell off four years ago, when China seemed in perpetual over supply mode and small operations abounded. But China is no longer supplying as it... 

Anglo's zinc loss now Vedanta's sweet gain
Photo by Duane Daws
Deshnee Naidoo

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

Hudbay Minerals back in black despite missing analyst expectations

By: Henry Lazenby Canadian base metals miner Hudbay Minerals has reported a fourth-quarter net profit on the back of recognising temporary tax recovery differences in Peru and Manitoba, in Canada. The Toronto-based firm reported an after-tax profit of C$49.6-million, or C$0.21 a share, compared with a loss of... 

Ivanhoe continues Kipushi drilling programme

By: Megan van Wyngaardt TSX-listed diversified miner Ivanhoe Mines on Tuesday reported that it has completed 75 drilling holes, totalling about 14 900 m of its planned 20 000 m underground diamond drilling programme at the Kipushi project, in the Democratic Republic of Congo. The company would now focus its drilling... 

Teck Resources on the rise despite lower earnings forecast

By: Henry Lazenby Canadian diversified miner Teck Resources has reported a significantly narrower fourth-quarter adjusted profit as lower copper and steelmaking coal prices have dented the company’s financial performance. For the three months ended December 31, Teck reported net profit, excluding special items of... 

Bisha, Harena resources increased – Nevsun

The measured and indicated resources of TSX-listed Nevsun’s Bisha and Harena deposits, in Eritrea, have increased to 1.2-billion pounds of copper, 3.4-billion pounds of zinc, 750 000 oz of gold and 42-million ounces of silver, following the completion of a 2014 drilling programme. The Bisha... 

Bisha, Harena resources increased – Nevsun

Aquila Resources to enter proposed ‘transformational’ financing with Orion Mine Finance

By: Henry Lazenby Project developer Aquila Resources has entered into an exclusivity agreement with Orion Mine Finance on a multilevel financing transaction that includes a private placement and a silver stream in exchange for funding $20.75-million. TSX- and Frankfurt-listed Aquila said on Tuesday that it would... 

On back of strong 2014, First Quantum disappoints with 2015 outlook

By: Henry Lazenby Base metals miner First Quantum Minerals late on Monday reported record copper output during 2014, noting that the current year would see its Zambia operations benefit from increased synergies as its new smelter was being commissioned and its new Sentinel mine started first production during the... 

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

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

In light of these developments, Creamer Media’s Base Metals 2014 Report examines the global base metals market, with a particular focus on supply and demand, and on the production of copper, zinc, nickel and lead, as well as selected base metals operations and projects in Africa. 

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

Global base metals outlook turns negative – Moody’s

By: Henry Lazenby Global credit ratings advisory firm Moody’s Investors Service has changed its outlook on the global base metals industry to negative, citing weakening macroeconomic growth indicators and investor sentiment. In its report ‘Global Base Metals Industry: Economic Weakness and Copper Price Plunge Turn... 

Global base metals outlook turns negative – Moody’s

Lundin Mining expects 2015 to be another ‘strong execution’ year

By: Tracy Hancock Diversified base metals mining company Lundin Mining expects another year of strong execution in 2015, following favourable 2014 production results, as the company focuses on cash generation and profit optimisation at each of its operations. President and CEO Paul Conibear said the company was... 

Lundin Mining expects 2015 to be another ‘strong execution’ year
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