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Mining stocks resemble ‘a big Walmart sale’ as low commodity prices persist

By: Henry Lazenby     Updated 7 hours ago Sentiment remain negative about the mining and oil and gas industries as the super cycle nears a protracted potential bottom, resulting in dwindling market capitalisations for companies large and small and cruelly undervalued stock prices – creating a buyer’s market for the savvy investor. Chief... 

Mining’s improving fortunes weighed down by debt

By: Simon Rees The mining sector was expected to climb out of the downturn’s trough by year-end 2016, Paradigm Capital partner and senior analyst David Davidson told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society. However, debt levels were a notable... 

Mining’s improving fortunes weighed down by debt

Teck turns a profit in low commodity price environment

By: Henry Lazenby Canadian diversified miner Teck Resources surprised markets on Thursday with better than expected fourth-quarter earnings, beating analyst expectations by C$0.03 a share. However, the Vancouver-based miner reported a net loss of C$459-million in the fourth quarter, as it booked after-tax... 

Teck turns a profit in low commodity price environment

Glencore reports lower FY coal, copper output

By: Creamer Media Reporter Output across most of diversified major Glencore’s production categories fell in 2015, with coal output down 10% year-on-year, copper production 3% year-on-year and nickel 5% year-on-year. Coal production decreased to 131.5-million tonnes, owing to the curtailment of production in response to... 

Glencore reports lower FY coal, copper output

Vedanta rephases capex at Gamsberg as part of cost-cutting measures

By: Kim Cloete In light of tumbling commodity prices, global diversified metals and mining company Vedanta Resources has had to restructure costs across all of its businesses, including South Africa-based Gamsberg zinc project .  Vedanta Resources CEO Tom Albanese told delegates at the Investing in African... 

Vedanta rephases capex at Gamsberg as part of cost-cutting measures
Vedanta Resources CEO Tom Albanese

US zinc producer Horsehead files for bankruptcy

By: Reuters Horsehead Holding Corp, a large US zinc producer, filed for Chapter 11 bankruptcy on Tuesday due to a slump in metals prices and a shortage of cash. The Pittsburgh-based company is the latest victim of a commodity price crash that has claimed scores of US energy exploration companies, miners and... 

Kenmare reports lower FY output on power supply challenges

By: Anine Kilian The share price of LSE-listed Kenmare Resources fell by as much as 26% on Monday morning, as the company announced lower output at its Moma mine, in Mozambique. The mineral sands miner produced 1.1-million tonnes of heavy mineral concentrate in 2015 – 15% less than the 1.29-million tonnes... 

Doe Run to scale down production amid depressed prices, costs

By: Megan van Wyngaardt Depressed metals prices and higher operational and regulatory costs have pushed base metals miner Doe Run to reduce the production of lead contained in concentrates at its operations, in Missouri, by 20 000 t/y. It would also reduce the production of zinc and copper. 

Crucial decision needed on empowerment levels

By: Nadine James An urgent court judgment needs to be made to determine the empowerment levels in South Africa’s mining industry, as this will most likely impact on the future alignment between the Department of Trade and Industry (DTI) codes and the Mining Charter, stresses Cliffe Dekker Hofmeyr director of... 

Crucial decision needed on empowerment levels
ALLAN REID Aligning the Mining Charter with the Department of Trade and Industry codes will be challenging, regardless of the Department of Mineral Resources' 12-month extension

Delayed MPRDA Amendment Bill unfavourable

By: Nadine James It is more than a year since the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill was referred back to Parliament by President Jacob Zuma for reconsideration. According to the latest available public record, more parliamentary committee meetings to reconsider the Amendment... 

Delayed MPRDA Amendment Bill unfavourable

Mine health, safety amendment still not effective

By: Nadine James Two of the additional regulations pertaining to the operation of  diesel-powered trackless mobile machinery (TMM) on mines – which were published in February 2015 – remain inoperable, as the Department of Mineral Resources (DMR) has yet to stipulate a date when the specific obligations come into... 

Mine health, safety amendment still not effective
Photo by Bloomberg
AVERTING COLLISIONS Several of the new regulations regarding Trackless Mobile Machinery are meant to prevent or reduce collisions

Mining needs critical legal regulatory matters resolved

There will be many critical legal and regulatory issues facing the mining industry in 2016, says Chamber of Mines (CoM) legal head Lerato Legong. He claims that “one of the most important is going to be the review of the Mining Charter, which will likely lead to the development of the third... 

Mining needs critical legal regulatory matters resolved
Photo by Bloomberg
MOSEBEZI ZWANE The Chamber of Mines expects that the Mineral Resources Minister and his department will deal with a number of regulatory issues in the coming year

Proposed MPRDA amendments lack clarity

By: Nadine James While the proposed amendments to the Mineral and Petroleum Resources Development Act (MPRDA) contain positive aspects, in a broader sense, they are flawed, particularly in terms of the applications and appeals processes regarding mining rights, says Hogan Lovells partner and head of mining Warren... 

Proposed MPRDA amendments lack clarity
WARREN BEECH The amendments pertaining to appeals will adversely impact mining right applicants in terms of starting the process of securing operations funding and their contractual obligations

Final Lisheen zinc shipment leaves gap Southern Africa can fill – Vedanta 

By: Martin Creamer The final shipment of zinc from Vedanta Resources' Lisheen mine has brought zinc supply from the Irish mine to an end, opening up an opportunity for the Gamsberg project, which is inching forward at a carefully measured pace in South Africa’s Northern Cape. Lisheen’s closure means that some 120... 

Final Lisheen zinc shipment leaves gap Southern Africa can fill – Vedanta
Photo by Duane Daws
Tom Albanese, Godfrey Oliphant, Deshnee Naidoo at first Gamsberg blast

Applied Mineral Technologies

Witbank-based Applied Mineral Technologies (Amtec) specialises in the fabrication and construction of materials handling systems and processing plants. “Amtec is especially proficient and experienced in brownfield and shutdown construction activities having successfully undertaken many... 

Applied Mineral Technologies

Key speaker to address investment options at Indaba

By: Mia Breytenbach International financial institution World Bank Group VP Makhtar Diop will be a key speaker at this year’s Investing in African Mining Indaba as well as being part of the market panel titled ‘Driving Investment in African Infrastructure - what are the investment options?’. The Mining Indaba will... 

Key speaker to  address investment options at Indaba
Photo by Duane Daws
MAKHTAR DIOP Despite the slowdown of Africa’s biggest economies, the gross domestic product in the region is expected to pick up to an average of 4.4% and 4.8% in 2016 and 2017, respectively

Networking at every turn

By: Kimberley Smuts Event organiser Mining Indaba recognises that one of the most critical functions of the Investing in African Mining Indaba conference is to create a platform that allows all those operating in the African mining sector to engage. The annual Mining Indaba taking place from February 8 to 11 at the... 

Networking at every turn
NETWORKING OPPORTUNITIES ABOUND Mining Indaba has again allocated specific times for networking over the course of the event to allow delegates to set up meetings and take advantage of the opportunity to meet new business contacts

Nevsun on schedule and under budget to start zinc production as supply crunch peaks

By: Henry Lazenby Eritrea-focused miner Nevsun Resources is on schedule and well below budget to start hot commissioning of the Bisha mine’s zinc expansion by May, with commercial production expected to get under way later this year. The TSX- and NYSE MKT-listed miner reported that the expansion project was about... 

Competition Tribunal lifts conditions on Zimco, Atlantis merger

By: Samantha Herbst The Competition Tribunal has approved a request by South African industrial and base metals producer Zimco Group to lift certain conditions imposed by the Competition Commission in 2014, when it approved the merger of Zimco and lead anodes producer Atlantis Metals. At the time of the merger,... 

Competition Tribunal lifts conditions on Zimco, Atlantis merger

ICBC Standard Bank names Mark Thompson head of base metals trading

By: Reuters LONDON – ICBC Standard Bank has appointed Mark Thompson, a former executive at trading house Trafigura's asset management business, head of its global base metals trading. Thompson, who has worked in the metals and financial sector for over two decades, will report to head of base metals, Steve... 

Teck Alaska sues over tax hike that could triple 2016 payments

By: Henry Lazenby Canadian diversified miner Teck Resources has filed a legal complaint with the Superior Court for the State of Alaska over a tax increase that Teck estimates could more than triple its yearly payments as of 2016. The company’s subsidiary Teck Alaska, the operator of the Red Dog zinc/lead mine, in... 

To increase value, miners need to navigate the pitfalls of M&A

By: Henry Lazenby Navigating the mergers and acquisitions (M&A) market can be tricky at best, but with increased pressure to conclude deals in the tight economic environment, there are several pitfalls buyers and sellers should heed to maximise deal values. Professional services firm EY in October released the... 

Policy uncertainty, DMR leadership ‘challenges’, weak prices bode ill for mining sector in 2016

By: Jade Davenport Over the last few years, South Africa’s mining industry has staggered into the new year increasingly the worse for wear having been ravaged by a myriad of challenges over the course of 2015 not least of which have included mineral-policy uncertainty, labour-management disputes, waning investor... 

Policy uncertainty, DMR leadership ‘challenges’, weak prices bode ill for mining sector in 2016

Greece says Eldorado must resume mining operations before talks on investment can continue

By: Reuters Greece has asked Canadian miner Eldorado Gold Corp to reverse its decision to halt much of its Greek mining operations and safeguard jobs as a condition for the two parties to continue talks on the country's biggest foreign investment. The Vancouver-based miner has been in a dispute with the... 

Crisis excellent opportunity to rescue mining – Motlanthe

By: Martin Creamer The current crisis in South Africa’s mining industry should be grasped as an excellent opportunity to introduce material change through an effective joint organising body that gets things done within specified timelines. “We’re in a rut and need to pull ourselves out of it together,” says former... 

Crisis excellent opportunity to rescue mining – Motlanthe
Photo by Duane Daws
Kgalema Motlanthe interviewed by Mining Weekly Online.

Sama Resources licensed to explore Côte d'Ivoire land package

By: Megan van Wyngaardt Canadian mining company Sama Resources has obtained a new exploration licence, contiguous to the nickel-copper-palladium Samapleu licence, to explore for base metals over an 80 km2 land package in Côte d'Ivoire. The new licence, dubbed the Grata permit, was 100%-owned by Sama Nickel Côte d'Ivoire... 

Aquila appoints interim chairperson as Mark Burridge looks to new opportunities

By: Henry Lazenby Project developer Aquila Resources has appointed director Edward Munden as its board’s new interim chairperson, after Mark Burridge stepped down with immediate effect to pursue other opportunities. Having been appointed a director of the company since 2001, Munden had more than 35 years... 

Market uncertainty pulls EY’s Canadian Mining Eye index down in Q3

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index declined 17% during the third quarter 2015, in stark contrast to the second quarter’s 4% gain. This latest drop was even more substantial than the first quarter, which saw only a 1% decline. 

Century mine, Australia

By: Sheila Barradas A zinc/lead mine, located at Lawn Hill, 250 km north-west of Mount Isa, in the lower Gulf of Carpentaria, in Queensland, Australia. 

Century mine, Australia

Kriel Occupational & Wellness Centre

Independent service provider Kriel Occupational & Wellness Centre, a 100% black, female-owned business, was formed in 2008 to bridge the gap in the occupational health sector identified by director Dr Patience Lindi Mokwena. The women-empowered company, which is focused on servicing the mining... 

Kriel Occupational & Wellness Centre

Glencore shares soar as company spurts cash, reports “good” China sales

By: Martin Creamer The share price of Glencore soared more than 14% in Johannesburg after the diversified mining and marketing company told investors it would remain comfortably cash positive at materially lower commodity prices, had $14-billion liquidity headroom, beat its capital preservation targets and was... 

Glencore shares soar as company spurts cash, reports “good” China sales
Photo by Duane Daws
Ivan Glasenberg

Rapid debt reduction shapes Glencore for lower prices

By: Martin Creamer Global diversified mining and marketing company Glencore is ahead of schedule on the debt reduction plan, with rapid delivery of debt reduction measures preparing the London-, Hong Kong- and Johannesburg-listed giant for current, and even lower, commodity prices. Glencore CEO Ivan Glasenberg... 

Rapid debt reduction shapes Glencore for lower prices
Photo by Duane Daws
Ivan Glasenberg

Moody’s warns of ‘deep and long’ commodity price downswing

By: Natalie Greve Based on its revised, weaker global growth expectations for 2016, softening demand, the strength of the dollar and continued uncertainty surrounding metal demand in China, Moody’s Investor Service expects base metals prices to remain under pressure to the downside, warning that an impending... 

Lundin increases copper production guidance for 2016, 2017

By: Creamer Media Reporter An improved production profile at diversified miner Lundin Mining’s 80%-owned Candelaria operation, in Chile, has led to an improvement in the company’s overall copper production guidance for 2016 and 2017, compared with the estimates provided at the end of 2014. Lundin on Wednesday released its... 

Newfoundland base metals firms study central milling concept

By: Megan van Wyngaardt Base metals developers Canadian Zinc and Buchans Minerals Corporation have entered a collaboration agreement to jointly undertake a research programme and share research data on their respective central Newfoundland copper/lead/zinc/silver/gold deposits. TSX-listed Canadian Zinc received $535 000... 

Newfoundland base metals firms study central milling concept

How mining can innovate and boost cash at same time

By: Martin Creamer French software company Dassault Systèmes Geovia is offering South Africa’s struggling mining industry the opportunity to innovate and accelerate its cash flow at the same time. The company outlined its mix of innovation and cash-boosting potential at a presentation attended by Creamer Media’s... 

How mining can innovate and boost cash at same time
Photo by Duane Daws
David Osborn during video interview

Canadian commodities rally short-lived

By: Megan van Wyngaardt After dropping to a decade low in August and September, Scotiabank's Commodity Price Index rallied 3.7% month-on-month in October, but remained 29.1% lower than a year ago. An easing of concern over the slowdown in China's economy and a potential US Federal Reserve (Fed) interest rate hike... 

Aquila’s Michigan application process administratively complete

By: Creamer Media Reporter Canadian project developer Aquila Resources’ mine permit application for its Back Forty project, in the US, was administratively complete, the company reported on Friday. Aquila said that the Michigan Environment Quality Department had completed its initial review of the application and that it... 

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