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New-gen scanning technology released, interest from SA companies

By: Jessica Oosthuizen     17th August 2018 Global corporate engineering and consulting group DMT has released the new-generation Slim Borehole Scanner (SBS) technology for imaging extra-slim drill holes with a diameter of 23 mm, with keen interest from local mining companies, says DMT director Sodhie Naicker. One of the SBS’s primary... 

Oz Minerals profit jumps 59%, completes review of new Brazil assets

By: Esmarie Swanepoel     16th August 2018 Copper/gold miner Oz Minerals has reported a 59% increase in net profit after tax for the interim period ended June, with underlying earnings before interest, tax, deprecation and amortisation (Ebitda) increasing by 33%. Net profit after tax for the six months to June was reported at... 

Russian miners explore payment schemes eschewing dollar

By: Reuters     15th August 2018 Two of Russia's biggest mining companies said on Wednesday they were investigating rouble-based payments schemes, amid calls from Moscow to reduce the role of the US dollar in Russian trade and so limit the impact of US sanctions. The Kremlin said on Monday that Russia favoured bilateral trade... 

Leagold updates FY guidance after Brio Gold buy

By: Creamer Media Reporter      15th August 2018 Midtier gold miner Leagold has updated its production guidance to reflect the recent completion of its Brio Gold acquisition, which added three mines in Brazil to its portfolio. The company said this week that it expects to produce between 325 000 oz and 350 000 oz of gold at an all-in sustaining... 

AngloGold terminates Brazil earn-in JV with Equinox Gold

By: Mariaan Webb     13th August 2018 Aurizona greenfields concessions in Brazil, the Canada-based junior reported on Monday. AngloGold has spent about $9-million at the greenfields concession since exploration started in August 2016, completing more than 43 000 line kilometres of high-resolution aeromagnetic radiomagnetic surveying... 

Randgold looking across the Atlantic

By: Martin Creamer     10th August 2018 African gold mining company Randgold Resources is looking across the Atlantic along the northern edge of South America, which effectively hosts the same geology as West Africa, where the London-listed company has its biggest gold-mining base. This is in addition to intensifying exploration... 

BHP says Brazil court approves Samarco settlement

By: Reuters     10th August 2018 Mining heavyweight BHP said on Thursday a federal court in the Brazilian state of Minas Gerais approved an agreement between miner Samarco and Brazil authorities, marking a milestone in the legal battle over a deadly 2015 dam failure. A 20-billion reais ($5.- billion) lawsuit against Samarco,... 

Fibre optics punted for pipeline monitoring amid major spills in mining and other sectors

By: Nadine James     10th August 2018 Fibre optics were invented to carry huge amounts of voice data over long distances very efficiently, but advancements in optical technology have enabled the use of specialised fibre optic cables as sensors with the ability to measure parameters such as acoustic energy, temperature, strain, and... 

Maracás Menchen mine, Brazil

By: Sheila Barradas     10th August 2018 A vanadium mine located in the eastern state of Bahia, in Brazil. 

Fibre optics punted for pipeline monitoring amid major spills in mining and other sectors

By: Nadine James     10th August 2018 Fibre optics were invented to carry huge amounts of voice data over long distances very efficiently, but advancements in optical technology have enabled the use of specialised fibre optic cables as sensors with the ability to measure parameters such as acoustic energy, temperature, strain, and... 

BHP reaches $50m settlement in US lawsuit

By: Esmarie Swanepoel     9th August 2018 Mining major BHP has reached a $50-million settlement on a class action filed in the US District Court in New York regarding the Samarco dam failure, in 2015. The settlement comes with no admission of liability from the miner, and was still subject to approval by the District Court. 

Glencore closing in on oil deal, transacting with Eskom

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Alcoa's W.Australia workers walk out over labour agreement - union

By: Reuters     8th August 2018 Alcoa workers in Western Australia have walked out indefinitely over an enterprise agreement dispute with the aluminium maker, the Australian Workers' Union (AWU) said on Wednesday. The strike comes after Alcoa applied to Australia's workplace regulator to terminate its current agreement,... 

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Miners set to spend $11bn in search of the next jackpot

By: Bloomberg     7th August 2018 Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues on whether the sector’s heavyweights are close to a new jackpot discovery. As Rio Tinto Group searches Australia’s Great Sandy Desert for copper and Anglo American scours a 19... 

Brazil mining exports to rise 2.5% in 2018 – Ibram

By: Reuters     6th August 2018 Brazil's mineral exports are expected to rise 2.5% in 2018 compared with the previous year to 410-million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday. By value, mineral exports are expected to increase to $30-billion from $28.37-billion last... 

Equinox’s Brazil mine on track to pour gold before year-end

By: Marleny Arnoldi     3rd August 2018 Vancouver-based Equinox’s Aurizona gold mine, in Brazil, is on track to achieve year-end 2018 gold pour, with the overall project being 60% complete and plant construction being 51% complete at the end of June. Installation of semi-autogenous grinding and ball mills is under way and ore... 

TRI opens subsidiary in South Africa  

By: Paige Müller     3rd August 2018 Global independent third-party geotechnical testing and research company TRI Environmental launched its new African subsidiary, TRI Africa Environmental Services, last month.   Owing to an increase in demand for its third-party quality assurance geotechnical testing services on the African... 

Regulatory hiatus causing even friendly major miners to back off exploration

By: Martin Creamer     3rd August 2018 Exploration is vital to keep mining going and although Mineral Resources Minister Gwede Mantashe has expressed concern about many mine shafts being put on care and maintenance, Minerals Council South Africa is correct to point out that the real setback for the future sustainability of the South... 

Brazil studying auction of rights to six unexplored mining areas in 2019

By: Reuters     31st July 2018 Brazil's geological service is studying auctioning off mining rights in 2019 to six previously unexplored areas that have significant potential output of copper, gold, phosphate and other minerals, the head of the organisation told Reuters on Monday. The geological service CPRM, which operates... 

Beadell lowers FY guidance to focus on cash flow

By: Esmarie Swanepoel     31st July 2018 Gold miner Beadell Resources has adjusted its full-year gold production expectations as the company focuses on cash flows, rather than production. Beadell on Tuesday said that production for the full 2018 is now expected to be between 125 000 oz and 135 000 oz, compared with the previous... 

Crusader appoints Ausenco to aid in Borborema mine design

By: Marleny Arnoldi     30th July 2018 ASX- and Aim-listed Crusader Resources has appointed Ausenco do Brasil Engenharia to assist in completing and reviewing the final documentation required to submit the application for the installation licence for the company’s Borborema gold project, in Brazil. Ausenco will focus initially on... 

Brazil mining reforms stalled by impasse over new agency

By: Reuters     29th July 2018 A new Brazilian mining regulator created last year to cut red tape and attract foreign investment has still not gotten out of the blocks, with experts warning that the agency will be stalled at least through the October election and perhaps until 2019. Miners say major investments are hanging in... 

Will BHP's CEO follow top miner's shale unit out of the door?

By: Bloomberg     27th July 2018 BHP Billiton’s $10.8-billion of deals to exit its troubled US shale unit will allow CEO Andrew Mackenzie to shower investors with returns. It may also be a chance for him to bow out on top. Mackenzie, 61, who’s held his post since 2013, has delivered on plans to simplify BHP around a tighter... 

Only a 'cataclysm' could hit top quality ore demand – Vale CEO

By: Reuters     26th July 2018 Brazil's Vale, the world's top iron-ore producer, forecast steady prices for the mineral and rising premiums for its top quality ore, thanks to strong demand from China and despite global trade tensions. Vale CEO Fabio Schvartsman said a scarcity of Vale's trademark top quality ore protects the... 

Innovation ‘coming out of the lab, into the field’ – Anglo

By: Martin Creamer     26th July 2018 The comprehensive technology and innovation programme being intensively conducted by diversified mining major Anglo American is coming “out of the lab and into the field”, the company told Mining Weekly Online on Thursday, when it reported continued performance improvement in the six months to... 

Vale posts rise in second-quarter profit

By: Reuters     25th July 2018 Brazil's Vale SA, the world's largest iron ore producer, posted a rise in second-quarter net income, results showed on Wednesday. The miner said profit in the second quarter rose to 306-million reais ($82.96-million) from 60-million reais in the same period a year earlier. However, the figure... 

SA, Russia recommit to implementation of PGMs MoU

By: Anine Kilian     24th July 2018 South Africa and Russia recommitted themselves to the continued implementation of the memorandum of understanding (MoU) on platinum group metals (PGMs), following the third yearly PGMs conference, which took place in Johannesburg, on Tuesday.   Delegates at the conference agreed on the need to... 

Brics bank approves $600m loans for South African, Chinese projects

By: Reuters     24th July 2018 The New Development Bank, set up by the Brics group of emerging economies, has approved loans of $300-million for energy projects in South Africa and $300-million for a transportation project in China. South Africa, which will host a Brics summit later this week in Johannesburg, is trying to... 

Norsk Hydro says unclear when will resume full output at Brazil alumina refinery

By: Reuters     24th July 2018 Aluminium producer Norsk Hydro said it was unclear when it would resume full production at its Alunorte alumina refinery in Brazil, the world's largest, as the firm on Tuesday reported second-quarter earnings in line with forecasts. Norway's Hydro was ordered in February by Brazilian authorities... 

Eskom confident of raising R72bn despite qualified audit  

By: Terence Creamer     23rd July 2018 Financially stressed electricity producer Eskom expressed confidence on Monday that it would be able raise the R72-billion it required for the 2019 financial year, despite having received a qualified audit opinion for the 2018 financial year, reporting a R2.3-billion loss and nearly 20-billion in... 

AngloGold says there's no escaping demise of South African gold

By: Bloomberg     23rd July 2018 South Africa’s gold industry, once the world’s largest, faces an inevitable decline, according to the chairperson of the country’s biggest producer of the metal by market value. Output will continue to shrink as miners chase ever-deeper ore bodies while struggling to keep costs down, said... 

Commodity contagion spreads as raw material crash threatens calm

By: Bloomberg     19th July 2018 Don’t be fooled by the relative calm across financial markets: The inputs in the global supply chain are flashing warning signs. Commodities have tumbled into correction territory Thursday, sliding again in the face of the resurgent dollar and lingering global trade tensions. Among the recent... 

Anglo reports production growth across all commodities in Q2

By: Marleny Arnoldi     19th July 2018 Global diversified miner Anglo American reported a 6% year-on-year increase in total production on a copper equivalent basis for the second quarter. Anglo CE Mark Cutifani remarked in a statement on Thursday that higher copper and metallurgical coal production reflected the company’s consistent... 

Oz reports a solid June quarter

By: Esmarie Swanepoel     19th July 2018 Copper miner Oz Minerals has reported another solid quarter during the three months to June in its bid to reach full-year production of between 100 000 t and 110 000 t of copper. During the second quarter, Oz produced 27 131 t of copper, which was in line with the 27 466 t produced in the first... 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Swanepoel     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

Vale notches record Q2 iron-ore, pellet output despite trucker strike

By: Reuters     16th July 2018 Brazil's Vale achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America's largest economy in May, the miner said in a filing on Monday. Vale, the world's top iron-ore producer, said iron ore output reached 96.755-million... 

Major Beadell shakeup targets $100m cost savings

By: Esmarie Swanepoel     16th July 2018 Gold miner Beadell Resources has implemented major management changes and cost reductions at its Tucano mine, in Brazil, that could save more than $100-million. CEO and MD Simon Jackson and COO Peter Holmes will step down from their current positions, with Dr Nicole Adshead-Bell taking over as... 

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