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South32 makes management shifts as SAEC becomes standalone business

By: Megan van Wyngaardt     22nd January 2018 As part of setting up its South African Energy Coal (SAEC) operations as a standalone business, triple-listed South32 will make changes to the operational accountabilities of its two COOs, Mike Fraser and Paul Harvey. Fraser will now be accountable for the alumina and aluminium operations in... 

Po Valley makes significant commercial gas discovery in Italy

By: Megan van Wyngaardt     19th January 2018 Shares in Australia’s Po Valley Energy (PVE) surged on Friday, reaching an intraday high of 10c each, up from the previous day’s closing price of 4c each, following the news of significant commercial discovery at its new Selva gas field in northern Italy. By 16:00 in Sydney, the stock traded at... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

By: Bloomberg     19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... 

Materials Price Index rises for tenth week in a row

By: Henry Lazenby     19th January 2018 The Materials Price Index (MPI) from Global Insight by IHS Markit has risen for the tenth consecutive week, the research and consultancy group announced on Thursday. The index added a strong 1.8%, adding to a 15.1% rise since early October, when the current rally started. 

Up to ten midtier mineral deposits can still be discovered in South Africa – resources consultant

By: Mia Breytenbach     19th January 2018 There is no reason why South Africa cannot build an exploration and junior mining sector, says resources consultant Dr John Bristow, who notes that while the country has vestiges of this sector, it is hampered by regulatory policy, and a preoccupation with a “Sunset” mining industry. Speaking at... 

New shaft key to transforming Kirkland Lake into 1Moz/y producer

By: Mariaan Webb     18th January 2018 Gold miner Kirkland Lake has set its sights on producing one-million ounces a year in the next five to seven years, a target which is built on transforming the Fosterville and Macassa mines into 400 000 oz/y producers. At Fosterville, in Australia’s Victoria, Kirkland Lake is aiming to achieve... 

Global Geoscience appoints Amec for US lithium project study

By: Creamer Media Reporter      17th January 2018 Australia-based lithium/boron mine developer Global Geoscience has selected Amec Foster Wheeler as the engineering and design firm to complete the prefeasibility study (PFS) for the Rhyolite Ridge project in the US. Announcing the appointment on Wednesday, Global Geoscience MD Bernard Rowe said... 

South32 boasts record manganese, aluminium production in December quarter

By: Megan van Wyngaardt     17th January 2018 Triple-listed diversified miner South32 on Wednesday reported that, while it had achieved its guidance for all its operations during the three months to December 31, its South African manganese operations, in particular, exceeded expectations, owing to strong market demand. Saleable ore... 

South32 Q2 coal output falls as mine outage weighs

By: Reuters     17th January 2018 Mining group South32's second-quarter metallurgical coal output dropped 43% due to the suspension of operations at its Appin mine, in Australia, over safety concerns, the company said on Wednesday. Production of coal used in steelmaking fell to 788 000 t in the December quarter from 1.39-million... 

Top 10 zinc miner Trevali lifts 2018 guidance 140% as zinc powers to 10yr high

By: Henry Lazenby     16th January 2018 Canadian zinc miner Trevali Mining expects to produce 140% more zinc this year, following a transformational 2017 that saw it produce a record 177.4-million payable pounds of zinc. The 2017 output was boosted by the December quarter production from the newly acquired Perkoa mine, in Burkina Faso,... 

Rio Tinto maintains fourth-quarter guidance across the board

By: Anine Kilian     16th January 2018 Global miner Rio Tinto reported on Tuesday that it had met its iron-ore shipment guidance for the three months ended December 31, 2017, noting a 1% rise in shipments for the year to 330.1-million tonnes. "The business performed well in the fourth quarter and we finished the year in line with... 

Australia’s Vimy maintains positive view on uranium

By: Mariaan Webb     16th January 2018 Perth-based uranium mining hopeful Vimy Resources is maintaining a positive view on the uranium market and will “actively and energetically” engage in contract negotiations this year, to underpin financing for a new mine in the Great Victoria desert of Western Australia. The company, which is... 

Australian LNG exports surge on strong Chinese demand

By: Megan van Wyngaardt     16th January 2018 Australian liquefied natural gas (LNG) exports hit 56.8-million tonnes last year, jumping 26.3% from 44.9-million in 2016, owing to a watershed year of exports to China. Combined with higher oil prices, the increase in volumes pushed up Australia’s 2017 LNG export revenue by 44.1% to... 

Bernard Olivier appointed as Mustang MD

By: Megan van Wyngaardt     15th January 2018 ASX-listed Mustang Resources has appointed' Dr Bernard Olivier to its board as MD, and has created a new position of COO, which is filled by Cobus van Wyk. Olivier has stepped into the position that Christiaan Jordaan vacated in November. 

Centrex says Ardmore phosphate study shows strong returns

By: Natasha Odendaal     15th January 2018 A scoping study for the Ardmore phosphate project, in north-west Queensland, has revealed strong potential returns and further cemented conceptual economics, ASX-listed Centrex Metals said on Monday. The company, which acquired the project in June 2017, has been focused on developing a phosphate... 

Kirkland achieves FY17 production records

By: Natasha Odendaal     12th January 2018 Triple-listed Kirkland Lake Gold has finished the 2017 financial year strong, achieving record production across the board and surpassing an already-improved guidance. Kirkland achieved full-year 2017 production of 596 405 oz – a 10% increase on the prior year – beating its revised guidance of... 

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Port Hedland clearing out ships as Cyclone Joyce intensifies

By: Reuters     11th January 2018 Australia's Port Hedland iron-ore terminal expects to clear all remaining vessels from its harbour by 10:30 GMT as a safety measure after a tropical cyclone intensified off the nation's western coast on Thursday, Pilbara Ports Authority said. The port's biggest user, global mining giant BHP,... 

Rio is said to drop chase for $5bn lithium miner stake

By: Bloomberg     11th January 2018 Rio Tinto Group has dropped out of the bidding for a stake in Soc. Quimica & Minera de Chile SA, one of the world’s top lithium producers, as it pursues other ways to capitalise on the electric-car boom, people familiar with the matter said. Rio decided not to proceed with an offer for Nutrien’s... 

The No.1 miner is building an EV hub it doesn't want to keep

By: Bloomberg     11th January 2018 Electric vehicles could hold the key to BHP Billiton finally finding a buyer for its unwanted nickel operations. The world’s top miner is accelerating plans to transform Nickel West in Western Australia into a linchpin of the global supply chain for EV batteries. The switch in focus promises to... 

MICROMINE to preview latest software solutions at Mining Indaba 2018

     10th January 2018 Leading mining-software solutions provider MICROMINE will preview its latest major product releases, Geobank 2018 and Micromine 2018, at Mining Indaba 2018, to be held at the Cape Town International Convention Centre from 5 to 8 February. MICROMINE is the leading provider of innovative software... 

Liberty House makes binding offer for Rio Tinto's French aluminium smelter

By: Reuters     10th January 2018 Liberty House, the industrial arm of British steel tycoon Sanjeev Gupta's GFG Alliance, said on Wednesday it had made a binding offer for miner Rio Tinto's, aluminium smelter in Dunkerque, France, the largest in Europe. The group did not disclose an offer price but said the move was part of a... 

Port Hedland may clear ships as storm builds off Australia - port authority

By: Reuters     10th January 2018 essels may be cleared from Australia's Port Hedland, the world's biggest iron ore export terminal, as early as Thursday as a safety precaution because of a tropical storm, port manager Pilbara Ports Authority said on Wednesday. The authority said Port Hedland may commence the clearing of vessels... 

Top iron-ore port ships half billion tons as bears call time

By: Bloomberg     9th January 2018 Iron-ore cargoes from Australia’s Port Hedland, the world’s biggest bulk export terminal, jumped to an all-time high of almost half a billion metric tons last year, offering fresh evidence of burgeoning global supply at a time when bearish forecasts for the commodity are stacking up. Exports... 

Adani Australia port must refinance soon or face rating cut

By: Bloomberg     9th January 2018 An Australian deep water port linked to one of the world’s biggest planned coal mines should lock in refinancing within six months of a loan maturing in November to safeguard credit ratings on its debt, according to S&P Global Ratings. Adani Abbot Point Terminal in Australia’s Queensland state,... 

DevEx seeks to raise project development funds

By: Megan van Wyngaardt     8th January 2018 Exploration firm DevEx Resources on Monday announced a one-for-two non-renounceable rights issue to raise up to $2.84-million for its lithium and copper/gold projects. The company said it planned to fast track drilling at its projects, including the recently identified lithium anomaly at the... 

Australia forecasts 20% iron-ore price drop in 2018 as China demand eases

By: Reuters     8th January 2018 Australia on Monday said it expects iron ore prices to average $51.50/t this year, down 20% from 2017, because of rising global supply and moderating demand from top importer China as its steel sector shrinks. The government projection is out of step with some private forecasts, with UBS and... 

Lithium Chile shakes up corporate profile in alignment with lithium aspirations

By: Henry Lazenby     4th January 2018 Chile-focused lithium junior Lithium Chile has revamped itself to better align its corporate image with its aspiration of becoming a go-to lithium producer in the country – the world’s largest and lowest-cost producer of the energy metal. Based in Vancouver, Lithium Chile shareholders voted in... 

Glencore sells Australian coal mine to Gupta's GFG Alliance

By: Reuters     2nd January 2018 Glencore has agreed to sell one of two Australian coal mines it put up for sale last year to British industrialist Sanjeev Gupta's GFG Alliance for an undisclosed sum, the two companies said separately on Tuesday. The acquisition follows Gupta's purchase last year of the financially troubled... 

Shippers benefit as China laps up Brazilian iron-ore

By: Reuters     29th December 2017 US dry bulk shippers are set to post strong revenue growth in the next two years thanks to soaring Chinese demand for high-grade iron-ore from Brazil and Australia. To combat severe winter smog, China has slashed iron-ore output, pushing steel mills in the world's second biggest economy to... 

Year's best commodities fund is betting on 2018 mining M&A

By: Bloomberg     29th December 2017 This year’s best-performing commodity fund is betting on more mining companies turning to deal-making for growth in 2018. Commodity Capital Global Mining Fund racked up returns of 106% this year, the best performance among 409 commodity-focused funds tracked by Bloomberg, excluding... 

Australia's Mineral Resources to buy AWE for $403m

By: Reuters     21st December 2017 Australian gas producer AWE on Thursday accepted a sweetened takeover offer from Mineral Resources worth about A$526-million ($403-million) and that trumped an all-cash bid from a Chinese state-owned firm. Mineral Resources improved its all-shares offer with a cash component, promising to pay the... 

BHP says likely to quit global coal lobby group

By: Reuters     19th December 2017 Global miner BHP Billiton said on Tuesday it has taken a preliminary decision to quit the World Coal Association citing disagreement over climate change, and might also withdraw from the US Chamber of Commerce over mining industry rules. BHP, which has largely quit mining coal for power plants... 

Australia cobalt rush accelerates on electric vehicle demand, DRC troubles

By: Reuters     15th December 2017 Australia, home to the world's second-biggest cobalt reserves, is seeing a rush of interest in projects still years from production as makers of batteries used in electric vehicles (EVs) seek supplies of the metal from a more costly but less risky source than top miner, the Democratic Republic of... 

Macmahon executes Mt Morgans contract

By: Creamer Media Reporter      15th December 2017 Contract miner Macmahon on Friday confirmed that it had executed the final mining contract for the Mt Morgans gold mine project, near Laverton, Western Australia. The company was awarded the contract for an openpit mine from ASX-listed Dacian Gold, which is bringing Australia’s biggest gold mine... 

Space mining is getting close to reality 

By: Rebecca Campbell     15th December 2017 Space mining – the mining of bodies and other worlds in outer space for minerals and other natural resources – remains within the realm of science fiction. For now. But, during the younger years of most of the world’s current senior mining executives, personal communication devices (cellphones)... 

Space mining is getting close to reality

By: Keith Campbell     15th December 2017 Space mining – the mining of bodies and other worlds in outer space for minerals and other natural resources – remains within the realm of science fiction. For now. But, during the younger years of most of the world’s current senior mining executives, personal communication devices (cell phones)... 

Christo Visser

By: Martin Creamer     15th December 2017 This week Mining Weekly features Christo Visser, the newly appointed senior VP origination covering Australia, South East Asia, Russia and the CIS 

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