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Topic

Mining veteran wants to build a $1bn battery metals giant

By: Bloomberg     1st November 2018 South African mining veteran Brian Menell wants to build a battery material giant to help challenge China’s domination of the nascent industry. It’s still early days for his privately funded company, TechMet, which controls just a handful of assets from Canada to Rwanda. But he’s raising more... 

Horizonte focus shifts to funding as it ticks feasibility study box

By: Mariaan Webb     29th October 2018 Nickel company Horizonte Minerals has confirmed the economics of its Araguaia ferronickel project, in Brazil, with the completion of a feasibility study, setting up the company to advance offtake agreements and secure funding for the $443-million development. The Aim- and TSX-listed company aims... 

Yamana Gold sells Argentina mine, reports lower adjusted earnings

By: Creamer Media Reporter      26th October 2018 Canadian gold and silver miner Yamana Gold will sell its Gualcamayo mine, in San Juan, Argentina, to Colombia-based Latin American gold producer Mineros and has granted that company an option to acquire up to 51% of its La Pepa project in Chile. Yamana will receive $30-million in cash upon... 

Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments  

By: Terence Creamer     26th October 2018 President Cyril Ramaphosa declared an end to South Africa's proverbial 'investment strike', when he unveiled firm investment commitments of R290-billion across a diverse range of sectors, from mining and energy to infrastructure and manufacturing, at a well attended and vibrant investment... 

Leagold says Santa Luz restart requires $82m

By: Creamer Media Reporter      26th October 2018 Vancouver-based Leagold has completed an updated feasibility study for the Santa Luz project that it acquired in the recent Brio takeover, which demonstrates the potential for restarting 100 000 oz/y mine at a cost of $82-million. However, the company’s first priority remains to optimise its... 

Vale expects jump in base metal performance in 2020

By: Reuters     26th October 2018 Brazil's Vale, the world's top iron-ore producer, is expecting major improvement in the performance of its base metals division in 2020 but said that production cuts would remain effect this year and next while prices remain low, executives said on Thursday. CEO Fabio Schvartsman forecast a... 

Hands off Brazil's niobium: Bolsonaro sees China as threat to utopian vision

By: Reuters     25th October 2018 Jair Bolsonaro, the far-right candidate favored to win Brazil's Presidential election this Sunday, has a vision for his nation's economy: niobium. This mineral is used as an additive to steel to make the metal stronger and lighter. Niobium is in high demand by automakers, aerospace companies and... 

Vale reports Q3 miss on forex, base metals

By: Reuters     25th October 2018 Brazil's Vale on Wednesday posted weaker-than-expected net income, as a weaker currency coupled with lower base metals production and prices weighed on the world's largest iron ore producer. The miner, also the world's largest nickel producer, reported $1.408-billion in third-quarter net income,... 

Anglo’s portfolio performs well in Q3  

By: Nadine James     23rd October 2018 Diversified miner Anglo American’s focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes for the third quarter 1% higher year-on-year, Anglo CE Mark Cutifani commented on Tuesday. “Production per employee has increased by 5% [so far this... 

Brazilian pension fund Previ won't sell Vale shares before year end

By: Reuters     23rd October 2018 Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its CEO said on Monday. Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability 

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

South32 reports strong manganese and coking coal performance 

By: Esmarie Iannucci     18th October 2018 Diversified miner South32 on Thursday reported a record quarter at its Australian manganese operations, while metallurgical coal production was up 39% on the previous quarter. “Annual production guidance is maintained for all our operations, with Australia manganese achieving another quarterly... 

Brazilian assets start to deliver for Oz

By: Esmarie Iannucci     17th October 2018 Copper/gold producer Oz Minerals has reported an increase on copper production for the three months to September, following the addition o f the Antas copper project, in Brazil. Copper production in the September quarter was up to 31 919 t, up from the 27 131 t produced in the previous quarter,... 

Samarco could begin partial production in 2020 after dam burst – Vale CEO

By: Reuters     17th October 2018 Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020, Vale's CEO said on Tuesday. Samarco halted operations in late 2015 after one of its dams collapsed, killing 19 people and causing one of Brazil's... 

Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021

By: Reuters     16th October 2018 Anglo American should restart operations at its Brazilian Minas Rio iron ore mine in November or December but a planned ramp-up to 26.5-million tonnes per year is likely to be pushed back to 2021 from 2020 as previously expected, the miner's Brazil chief said on Tuesday. The company halted... 

Honeywell, ERG to collaborate on mine efficiencies

By: Marleny Arnoldi     16th October 2018 NYSE-listed Honeywell and Eurasian Resources Group (ERG) have signed a memorandum of understanding (MoU) to develop innovative technologies that will increase productivity at ERG’s operations in Kazakhstan, Brazil and several African countries. Under the terms of the MoU, Honeywell will... 

Rio Tinto copper output jumps; iron-ore, aluminium production slip

By: Esmarie Iannucci     16th October 2018 Diversified major Rio Tinto has reported lower production across nearly all its commodities, besides copper, in the three months to September. “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the group’s copper assets,” Rio CEO... 

Equinox Gold raises $75m for Mesquite acquisition

By: Creamer Media Reporter      12th October 2018 Canadian firm Equinox Gold has raised $75-million through private placements to fund part of its acquisition of the Mesquite gold mine, in California. The company is buying the 135 000 oz/y mine from New Gold for $158-million. 

Rio Tinto to take hit on legacy alumina contracts

By: Esmarie Iannucci     12th October 2018 Diversified miner Rio Tinto has warned of a $178-million impact on its financials during the first half of 2018, due to its legacy alumina contracts. The miner supplies some 2.2-million tonnes of alumina under legacy contracts, which are priced at a percentage of the benchmark aluminium price. 

Zest WEG Group launches new motor monitoring solution

By: Paige Müller     12th October 2018 Motors and controls manufacturer WEG subsidiary Zest WEG Group has launched the first phase of its WEG Motor Scan solution – a motor performance monitoring solution for electric motors. Speaking to Mining Weekly at the official product launch, held at the Electra Mining Africa exhibition last... 

Customisable drive solution enhances operations

By: Paige Müller     12th October 2018 Spain-based inverter manufacturer Ingeteam highlights that its Ingedrive low- and medium-voltage, variable-speed drives (VSDs) provide compact, customisable and powerful drive system solutions for the African mining industry. Ingeteam converters and automation division commercial sales manager... 

China swoops in on Canadian oil that's $50 below US crude

By: Bloomberg     11th October 2018 Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60% cheaper than US benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy, sludgy crude. That’s because – apart from being a source of fuel – it’s... 

Opec sees weaker demand for its crude next year as rivals surge

By: Bloomberg     11th October 2018 Opec is under intense pressure right now from consumers to ease prices by pumping more crude, but for 2019 it sees a more doubtful picture. The cartel cut its estimate for global demand for its crude next year due to weakening economic growth and higher output from rivals, notably US shale... 

Drought forces two-month closure of Leagold Brazil mine

By: Mariaan Webb     11th October 2018 Latin America-focused Leagold on Wednesday announced a two-month shutdown of its RDM mine, in Brazil, citing continued regional drought conditions. In 2017, the RDM mine was closed on August 11 and restarted, on an intermittent basis, in early November with the onset of the region's rainy season. 

Rio Tinto to restart sale of Icelandic aluminium plant – sources

By: Reuters     10th October 2018 Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350-million, two sources familiar with the matter said. The assets include a 53% stake in a Dutch anode facility and 50% of the shares in a Swedish... 

Hydro CEO says focus on full output at Alunorte, no layoffs

By: Reuters     10th October 2018 Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there, CEO Svein Richard Brandtzaeg told Reuters on Wednesday. Hydro had said last week it would close down the world's largest alumina refinery and lay off 4... 

Codelco plans to raise $1bn in 2019

By: Reuters     10th October 2018 Chile's State-owned miner Codelco, the world's largest copper producer, plans to raise up to $1-billion next year to help finance the overhaul of its existing mines, chairperson Juan Benavides said on Tuesday. Benavides also said the company was looking at exploration projects in Brazil, Ecuador... 

Hydro restarts Brazil alumina refinery at half capacity

By: Mariaan Webb     8th October 2018 Norwegian aluminium company Norsk Hydro will restart its Alunorte alumina refinery, in Brazil, at 50% capacity, following approval by federal environmental agency IBAMA to use its press filter technology for processing bauxite residues. The “exceptional” authorisation, which was granted on... 

Hydro shuts Brazil alumina refinery and bauxite mine

By: Mariaan Webb     3rd October 2018 Norwegian aluminium company Norsk Hydro on Wednesday announced that it would shut down its Alunorte alumina refinery and its Paragominas bauxite mine, in Brazil, owing to a dispute with authorities over water discharges from the refinery. The refinery – the world’s largest alumina producer – has... 

Vale, BHP reach final deal with prosecutors over Brazil disaster

By: Reuters     3rd October 2018 Brazilian prosecutors in Minas Gerais state said on Tuesday they reached a final compensation deal with mining companies Samarco, Vale and BHP Billiton regarding a 2015 dam burst, Brazil's largest ever environmental disaster. According to a statement from prosecutors released late on Tuesday, the... 

China's at 'peak steel' right now, top iron-ore shipper says

By: Bloomberg     2nd October 2018 The world’s largest steel market is about to go into reverse. Production in China will peak in 2018 and then shrink next year as local demand drops, according to forecasts from the Australian government, which says the shift will add to headwinds for core ingredient iron ore. Mainland steel... 

Jangada gains enviro approval for trial mining

By: Creamer Media Reporter      1st October 2018 South America-focused platinum group metals (PGM) project developer Jangada Mines on Monday announced that it had been issued an environmental licence for trial mining at the Pedra Branca project, in north-eastern Brazil. The environmental licence is the final requirement before the company can... 

Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium

By: Terence Creamer     28th September 2018 Black economic empowerment (BEE) consortium Off The Shelf Investments (OTS) confirmed on Friday that it had acquired Chevron South Africa (CSA) in a deal valued at $1-billion and financed by its technical and financial adviser, Glencore. CSA, which owns the Chevron refinery in Cape Town and the... 

Great Panther adds Brazil mine to portfolio with $105m Beadell buy

By: Mariaan Webb     25th September 2018 TSX-listed Great Panther Silver has announced that it will acquire ASX-listed Beadell Resources, which owns the Tucano gold mine in Brazil, in an all-scrip deal. The transaction will create a new “growth-oriented precious metals producer” focused on the Americas, with a portfolio of three... 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Centaurus resumes Salobo West licensing process

By: Mariaan Webb     21st September 2018 ASX-listed Centaurus Metals will resume the environmental licencing process for its maiden drilling programme at the Salobo West copper/gold project, in Brazil, after an earlier decision to deny the company a drilling and clearing licence was overturned. The key environmental agency responsible... 

Chinese steel mills chase iron-ore contracts with Brazil's Vale

By: Reuters     21st September 2018 Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron-ore ahead of winter steel output cuts, a boon for the main supplier of such grades of the commodity, Brazilian mining giant Vale. China, the world's biggest consumer of the steelmaking ingredient,... 

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