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Glencore cuts supply cloth to fit demand coat

By: Martin Creamer     Updated 6 hours ago The mix of mining and marketing within the same company provides sensitivity to commodity price falls. Continually highlighting the value of the mining-marketing mix is Glencore, which is quick to respond to market changes. 

Kipushi PEA places Ivanhoe’s DRC redevelopment project in league of its own 

By: Henry Lazenby Africa-focused project developer Ivanhoe Mines has reported strong operating metrics for the high-grade Kipushi zinc/copper mine, in the Democratic Republic of Congo (DRC), after publishing a new preliminary economic assessment (PEA) Monday. The PEA, conducted by consulting engineering firms... 

Kipushi PEA places Ivanhoe’s DRC redevelopment project in league of its own
Photo by Ivanhoe Mines
Kipushi drilling, DRC

Companies bought to enhance training offering

Training, supply and management group Workforce Holdings announced in January that it had acquired the various operating companies comprising outsourcing solutions providers Quyn Outsource Solutions. Workforce has predominantly placed staff in nontechnical positions and adding Quyn to its service... 

Companies bought to  enhance training offering
Photo by Bloomberg
SKILLS OFFERING EXPANDED Quyn Outsource Solutions’s e provision of technical skills to clients across a range of industries represents diversification for Workforce


By: Creamer Media Reporter Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

Mineworkers empowered

By: Kimberley Smuts If workers in the mining, energy and construction industries want to improve their financial situation, it is important that they take advantage of the financial literacy programmes currently being rolled out by financial assistance provider Mineworkers Investment Trust (MIT), which supports... 

Mineworkers empowered
Photo by Bloomberg
INVESTING FOR THE FUTURE The Mineworkers Investment Trust's financial literacy training started in Mpumalanga as a pilot study in June 2015 with more training expected to take place this year

Society aims to integrate more students into mining sector 

By: Kimberley Smuts The University of Witwatersrand's Students Mining Engineering Society (SMES) aims to increase the integration of mining engineering graduates into the mining industry this year, as well as to encourage mining engineering students to have an opinion on mining-related issues in South Africa. SMES... 

Society aims to integrate more students into mining sector
FORTUNE MSIBI Mining engineering students face the challenge of a lack of available jobs in the sector, as a result of South Africa’s financial crisis

Technological advancements continue despite mining sector’s downturn

By: Sascha Solomons Beneficial trends and technological advancements in the mining industry are being introduced regardless of the depressed market conditions that the sector faces, says environmental management company I-CAT Environmental Solutions technical manager Morne van Wyk. One such trend is recycling water... 

Technological advancements continue despite mining sector’s downturn
HYFLUX KRISTAL HOLLOW-FIBRE Ensure the effective and environmentally safe reduction of excess wastewater in the mining industry

Mexican miner Penoles' profit falls on financial costs

By: Reuters Mexican miner Penoles on Thursday reported a 65% drop in first-quarter net profit compared to the same period a year earlier, hit by higher financial costs on options it owned. The miner and metals processor which runs the world's largest primary silver producer, Fresnillo, posted a profit... 

Teck reports surprise profit as steelmaking coal, zinc prices turn north

By: Henry Lazenby Canada’s largest diversified miner Teck Resources has reported a surprise profit for the three months ended March 31, reporting headline earnings attributable to shareholders of $18-million, or $0.03 a share, compared with a forecast loss of $0.03 a share. Vancouver-based Teck, the largest... 

World Bank does not see platinum rally being sustained

By: Terence Creamer The World Bank does not expect the recent rise in platinum prices to be sustained for the full year, with its latest ‘Commodity Markets Outlook’ report forecasting a 10% year-on-year price decline in 2016. The report, released on April 26, notes that precious metals prices increased by 6% in the... 

World Bank does not see platinum rally being sustained

Arizona Mining closes C$15.6m financing with Osisko Gold Royalties

By: Henry Lazenby Canadian mineral exploration and development company Arizona Mining has closed a C$15.6-million financing with Osisko Gold Royalties, enabling Arizona to undertake an aggressive drill campaign at its flagship Taylor deposit, and for general working capital uses. TSX-listed Arizona has sold a 1%... 

Nevsun, Reservoir merge to create new midtier base metals company

By: Samantha Herbst Dual-listed base metals miner Nevsun Resources has agreed to acquire TSX-listed Reservoir Minerals for about $365-million to create a new, diversified midtier base metals mining company. 

Nevsun profit falls 40% despite beating Q1 production, cost guidance

By: Henry Lazenby Eritrea-focused Canadian miner Nevsun Resources has reported a 40% decline in net income attributable to shareholders for the three months ended March 31, as metal output at its flagship Bisha mine declined and the realised copper price fell 12% year-over-year. Net income attributable to Nevsun... 

Vale reports record output in Q1 as iron-ore price rallies

By: Henry Lazenby Brazilian diversified miner Vale has reported record iron-ore production at 77.5-million tonnes in the first quarter of 2016, marking the highest first-quarter production rate ever, despite output lowering 12% from the December quarter. Carajás, the world’s largest iron-ore mine, locate in... 

Excellon on the up as Q1 output rises

By: Henry Lazenby Mexico’s highest-grade silver producer Excellon Resources on Monday rose to a new 52-week high on the TSX, after it reported strong results for the quarter ended March 31. Toronto-based Excellon, which operated the high-grade La Platosa mine, in Durango state, reported that silver equivalent... 

Denham Capital seeks upside advantage during downturn

By: Simon Rees With most metals reaching a bottom, and many of the ‘zombie juniors’ finally laid to rest, opportunities for private-equity companies to find value and upside potential in the mining space have continued to grow. Seeking to tap into these opportunities, private equity firm Denham Capital was... 

Denham Capital seeks upside advantage during downturn

Middle East, North Africa on mining periphery despite hosting 30% of the world’s minerals

By: Ilan Solomons Despite having more than 30% of global mineral reserves, the Middle East and North Africa (MENA) region severely lacks exploration and resource development investment. The region’s mining industry is facing several challenges such as social and environmental pressure from communities living near... 

Middle East, North Africa on mining periphery despite hosting 30% of the world’s minerals

SA base metals sector neglected – explorer

By: Nadine James South Africa’s base metals sector is underdeveloped, owing to neglect and disinterest, says base metals explorer Horomela Resources, which is undertaking the first phase of its noninvasive prospecting programme on 14 zinc, copper, silver and lead properties in the Namaqualand region of the... 

SA base metals sector neglected – explorer
ABONGILE MDINGI Diversification towards base metals is imminent in South Africa

SA expected to remain reliant on zinc imports

By: Nadine James Zinc exports to South Africa will probably continue to account for the bulk of South Africa’s zinc consumption in the medium term, despite the projects, such as diversified miner Vedanta Resources’ Gamsberg project, expected to come on-stream in the country within the next three to five years,... 

SA expected to remain reliant on zinc imports
SKORPION ZINC MINE & REFINERY The Namibian refinery supplies 30% of its refined product to South Africa

Modernisation at heart of new State-backed local mining equipment body

By: Martin Creamer The modernisation of South Africa’s mines and the extension of their lives are at the heart of a new government-backed local manufacturing body that will have access to a State-owned developmental cluster location, where joint development initiatives are envisaged. The new organisation – Mining... 

Modernisation at heart of new State-backed local mining equipment body
Photo by Duane Daws
Anton Wheeler (right) with Martin Creamer

Aquila improves recoveries at Michigan-based Back Forty project

By: Henry Lazenby After completing comprehensive and integrated metallurgical testwork, TSX-listed project developer Aquila Resources on Monday reported that it had improved recoveries and the potential for increased production of its flagship Back Forty project's two main metals, gold and zinc. Gold recoveries... 

Antamina mine, Peru

By: Sheila Barradas A copper, zinc, molybdenum, silver and lead concentrates mine, in Huari province’s district of San Marcos, in the Ancash region of Peru. 

Antamina mine, Peru

Geochemical mapping of KZN leads to discovery of new target zones

By: Ilan Solomons The Council for Geoscience (CGS) has carried out a semiregional geochemical survey of the Tugela Terrane, in KwaZulu-Natal, which has resulted in the delineation of several new target areas for follow-up studies and a few geological anomalies near to known mineral occurrences, which warrant... 

Geochemical mapping of KZN leads to discovery  of new target zones
SURVEYING TUGELA In total 11 321 soil samples, each weighing 5 kg, were collected from a depth of 20 cm on a 500 m by 500 m grid

Resource-intensive Canadian and US states show stronger economic performance than others

By: Henry Lazenby The very strong economic performance in specific resource-intensive jurisdictions in Canada, especially Alberta and Saskatchewan, are mainly responsible for Canada’s comparatively strong overall economic record relative to the US since the recession of 2008/09, a new report by the influential... 

Glencore agri sale surprises on upside

By: Martin Creamer The announcement by Glencore that it is selling 40% of its agricultural business to Canada Pension Plan Investment Board for $2.5-billion cash has received the nod from analysts. Glencore said the proceeds from the transaction would be used to reduce net debt. 

Glencore agri sale surprises on upside
Photo by Duane Daws
Ivan Glasenberg

Nevsun reports strong demand for zinc concentrates

By: Henry Lazenby With cold commissioning of its zinc expansion project under way at Bisha base metals mine, in Eritrea, Canadian miner Nevsun Resources on Thursday reported strong customer demand for its future zinc concentrates. The company said hot commissioning of the zinc plant would be delayed by a month,... 

Despite strong performance from Santander, Trevali widens Q4 loss as zinc prices fall

By: Henry Lazenby Canadian zinc producer Trevali Mining has reported a fourth-quarter net loss C$8.3-million, or C$0.03 a share, despite its Santander zinc/lead/silver project, located in Peru, putting in a strong performance. The 76% year-over-year widening of the company’s net loss was mainly owing to lower... 

Teck forges ahead with Fort Hills, expects big reward when cyclical market rebounds

By: Henry Lazenby Canadian diversified miner Teck Resources is aiming to end 2016 with more than $500-million cash in the bank despite funding its portion of the Fort Hills oil sands project construction, in Alberta, and dealing with low commodity prices across its core portfolio. The Vancouver-based company, the... 

Research predicts another tough year for commodities

By: Henry Lazenby In the wake of lacklustre discipline by producers to curtail output in the face of relentless price declines, Bank of America Merrill Lynch (BofAML) Global Research was concerned that another leg of lower prices may be required to incentivise another round of cuts for a range of materials. In its... 

Vast granted extension to Manaila mine licence area

By: Anine Kilian Aim-listed Vast Resources’ Romanian subsidiary Sinarom Mining Group has been granted a prospecting licence over an extended perimeter at the site of its Manaila Polymetallic Mine (MPM), in northern Romania. The existing MPM mining licence covered an area of 0.0675 km2. It would now cover an... 

Down 25% year-on-year, Scotiabank’s Commodity Price Index expected to rally in March

By: Henry Lazenby Despite Scotiabank’s Commodity Price Index recording its fourth consecutive monthly decline in February when it edged down 0.3% month-on-month, and down 25% year-on-year, analysts expected the index to rally significantly in March. According to a press release commodity prices had rebounded... 

China sets course for smooth economic transition and commodity price gains

By: Simon Rees The retreat of commodity prices on the back of China’s economic shift belied rising levels of uptake and the likelihood of an upcycle later in the decade, CRU Group managing consultant Philip Macoun told an audience at the recent Prospectors and Developers Association of Canada convention.... 

China sets course for smooth economic transition and commodity price gains

KPMG calls for levelling of mine rehab playing field

By: Martin Creamer KPMG corporate tax head Muhammad Saloojee wants the tax authorities to level the mine rehabilitation playing field by ensuring that mine rehabilitation insurance premiums are tax deductible. His commentary to Creamer Media’s Mining Weekly Online comes against the background of a tax ruling that... 

KPMG calls for levelling of mine rehab playing field
Photo by Duane Daws
Muhammad Saloojee

Heron aims at tapping 2018 zinc supply gap with near-term Woodlawn project

By: Henry Lazenby Heron Resources is looking towards 2018 for first production from its flagship Woodlawn zinc/copper brownfield project, at about the same time that the zinc supply gap is expected to be at its peak. “Woodlawn is one of the very few near-term zinc production projects, positioned to tap into the... 

Trevali exploration uncovers ‘tangible’ near-term value at Santander

By: Henry Lazenby Canadian base metals miner Trevali Mining has expanded the Magistral zones at its flagship Santander zinc mine, in Peru, after the results of outstanding exploration drill holes from its 2015 exploration programme returned multiple high-grade zinc/lead/silver drill intercepts. “Results from our... 

Unexpected headwinds keep commodity prices lower for longer

By: Henry Lazenby A faster-than-expected slowdown in demand for commodities in 2015 has placed a damper on broad-based commodity price recoveries in 2016, compounded by lacklustre global economic growth and record inventories, which will take time to work down as production cutbacks and mine closures take effect.... 

Unexpected headwinds keep commodity prices lower for longer

Moody’s cuts BHP’s debt rating

By: Henry Lazenby Investment risk ratings agency Moody’s Investors Service on Thursday cut the world’s largest miner BHP Billiton’s debt rating from A1 to A3, mentioning the deterioration in the company's earnings and cash flow, which has led to significantly weaker credit metrics. The outlook for all ratings of... 

Glencore posts $4.9bn net loss

By: Martin Creamer Diversified mining and marketing company Glencore on Tuesday reported a net loss to equity holders of $4.9-billion for 2015, a year of focus on debt reduction, supply discipline and cost efficiencies. The company recorded net exceptional charges to equity holders of $5.8-billion, related... 

Glencore posts $4.9bn net loss
Photo by Duane Daws
Ivan Glasenberg
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