R/€ = 14.60 Change: -0.03
R/$ = 12.46 Change: 0.06
Au 1298.74 $/oz Change: -5.00
Pt 904.00 $/oz Change: -6.86


Russian diamond producer Alrosa says H1 sales to exceed initial expectations

By: Reuters     25th May 2018 Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength. Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov... 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

By: Reuters     25th May 2018 Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

Maatla on track for coal project take-off

By: Melissa Zisengwe     25th May 2018 Coal and energy company Maatla Energy remains on track to start site establishment and construction activities later this year, and production in 2019 at the company’s Mmamabula coal mine, in Botswana. Following the approval of an environmental-impact assessment (EIA) last month, Maatla... 

Junior miners set to capitalise on ‘new dawn’

By: Donald Makhafola     25th May 2018 There is a mood of optimism sweeping across the country following the election of Cyril Ramaphosa as the President of South Africa and the appointment of Gwede Mantashe as the Minister of Mineral Resources, with the junior mining sector hoping to capitalise on this through proactive initiatives... 

Euro Sun says Rovina Valley mining licence working its way through Romania govt

By: Henry Lazenby     24th May 2018 TSX-listed project developer Euro Sun Mining reported on Wednesday that the mining licence for its flagship Rovina Valley copper/gold project, in Romania, is working its way through government, with the National Agency for Mineral Resources and the Secretary General of Government (SGG) having... 

Petropavlovsk mulling over options to avoid IRC missing ICBC payment

By: Creamer Media Reporter      23rd May 2018 Gold miner Petropavlovsk and Hong Kong-based IRC, in which it is a large shareholder, are continuing negotiations with the Industrial and Commercial Bank of China (ICBC) to amend the repayment schedule of a $340-million project finance facility. Petropavlovsk is the guarantor of the project... 

Threat of cobalt supply shock is top risk for electric vehicles

By: Bloomberg     21st May 2018 A burgeoning risk of a supply crunch in cobalt – a key battery metal that’s more than tripled in price in two years – poses one of the biggest threats to forecasts for rising electric vehicle adoption. Major investment in mines is required to avoid price spikes that could see cost reductions for... 

Pallinghurst sells 56% of carats on offer at Zambia auction

By: Simone Liedtke     21st May 2018 JSE-listed Pallinghurst Resources, which owns 100% of Gemfields, has sold 56% of the carats on offer at an auction of higher-quality rough emeralds held in Lusaka, Zambia. The auction, which took place earlier this month, saw 31 companies placing bids and generated revenue of $10.3-million, with... 

Intrepid looks at new options for Kitumba as Weatherly deal lapses

By: Esmarie Swanepoel     21st May 2018 ASX-listed Intrepid Mines on Monday said that it was considering alternative options for its Zambian assets, given the current copper price environment. The announcement comes after the Zambian Ministry of Mines and Minerals Development’s conditional approval for the sale of Intrepid’s Zambian... 

Learning opportunity on mining training’s competitive edge 

By: Martin Creamer     18th May 2018 The objective of the impressive Murray & Roberts Training Academy in Carletonville is to make mining workplaces safer, more productive, technically proficient and values driven. 

Expo will facilitate interaction among sectors of Zambian economy

By: Jessica Oosthuizen     18th May 2018 The Caminex trade expo, which will be held from June 5 to 7 at the Kitwe showgrounds, in Zambia, provides a platform to facilitate interaction among various sectors of the economy, says event co-organiser Specialised Exhibitions Montgomery portfolio director Charlene Hefer. “It will promote... 

Learning opportunity on mining training’s competitive edge 

By: Martin Creamer     18th May 2018 The objective of the impressive Murray & Roberts Training Academy in Carletonville is to make mining workplaces safer, more productive, technically proficient and values driven. 

Centerra sells royalty portfolio, Kemess silver stream for $200m

By: Henry Lazenby     17th May 2018 Canadian gold miner Centerra Gold has agreed to sell its royalty portfolio and silver stream on the Kemess project, in British Columbia, to Triple Flag Mining Finance Bermuda for $200-million. The royalty sale comprises the sale of subsidiary AuRico Metals’ (AMI’s) royalty portfolio, together... 

Russia's Alrosa may buy diamond polisher Kristall in 2018 - Finance Ministry

By: Reuters     17th May 2018 Russian diamond miner Alrosa may buy State-owned diamond polisher Kristall in 2018, Russia's Deputy Finance Minister Alexei Moiseev said on Thursday. Alrosa, the world's largest rough diamond producer by output, said previously it was "expedient" for it to buy Kristall when the state-owned... 

Congo billionaire seeks French loan to develop iron-ore railway

By: Bloomberg     17th May 2018 Paul Obambi, a billionaire investor in the Congo Republic, is in talks with French lenders to fund a railway he’s building to export iron-ore. Obambi’s company Sapro SA is negotiating with “a consortium of banks” to finance the 450-km track that will link the southwestern town of Mayoko to a... 

Trump said to mull 2015 grid emergency law to save coal plants

By: Bloomberg     16th May 2018 The Trump administration is weighing a broad array of strategies for keeping coal and nuclear power plants online as a matter of national security, with options ranging from invoking a 68-year-old law to a three-year-old one, according to a senior Energy Department official. Members of the... 

Avanco a step closer to Pedra Branca

By: Esmarie Swanepoel     16th May 2018 Takeover target Avanco is one step closer to the grant of a provisional environmental licence for its Pedra Branca copper project, in Brazil, following a successful public hearing. The company on Wednesday reported that no objections were recorded at the public hearing, which indicated a strong... 

Alrosa steps up diamond marketing as miner eyes more cutting

By: Bloomberg     15th May 2018 Alrosa, the world’s largest diamond miner by output, is increasing its marketing efforts and targeting new opportunities in gem cutting at a time when the market is showing signs of starting to stabilize. The Russian firm, which typically hasn’t promoted stones outside Russia, last year... 

Consolidation needed to save jobs – Lonmin 

By: Martin Creamer     14th May 2018 Ben Magara, the CEO of embattled mining company Lonmin, on Monday made an impassioned plea for authorities to approve the company’s consolidation plans with Sibanye-Stillwater as soon as possible, as these will generate R1.5-billion in synergies and save 20 000 vitally needed jobs. The 32... 

Fasken chosen as Global Mining Law Firm of the Year by Who’s Who Legal

14th May 2018 For the tenth time, Fasken has been recognized as the world’s top Global Mining Law Firm of the Year by Who’s Who Legal for 2018, which is also the Firm’s fourth consecutive win. It is an incredible accomplishment, since the Firm has won more than any other law firm in the world, solidifying it... 

SA company wins social services bid for Malawi graphite mine

11th May 2018 South Africa-based integrated infrastructure delivery company AECOM has produced the winning bid for social services for mining company Sovereign Metals’ Malingunde graphite project in the Lilongwe district, in Malawi. The Malingunde graphite project is prospective for saprolite-hosted flake... 

Exploration company claims Botswana coal mines to become preferred supplier

11th May 2018 Botswana is set to play a more significant role in both the domestic and African coal industries, says coal exploration and emerging coal mining company Minergy, claiming that the company is ideally placed to become the preferred supplier to coal consumers across Southern Africa. The company... 

Avesoro Q1 revenue rises on higher production

By: Marleny Arnoldi     10th May 2018 Avesoro Resources’ record gold production of 68 088 oz for the quarter ended March 31, contributed to record quarterly gold sales of 68 553 oz at an average realised gold price of $1 333/oz.  

Butcherbird proves up for Montezuma

By: Esmarie Swanepoel     10th May 2018 A scoping study into the Butcherbird manganese project, in Western Australia, has indicated an economically and technically viable project, owner Montezuma Mining said. The company told shareholders that the scoping study supported Montezuma’s aim to complete feasibility study work at the... 

US exit of Iran nuclear deal places new risks on $4bn India gas project

By: Ajoy K Das     10th May 2018 US President Donald Trump’s tearing up the multilateral nuclear deal with Iran has thrown a new spanner in works of India’s protracted plans to develop Farzad B offshore gasfields along the Persian Gulf coast. The consortium of Indian companies, led by national exploration and production (E&P)... 

Vedanta's KCM disputes $18m Zambia tax bill – industry source

By: Reuters     9th May 2018 Vedanta Resources' Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18-million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday. Zambia's revenue authority concluded audits of mining companies that... 

Kefi Minerals progresses with $160m infrastructure bonds

By: Marleny Arnoldi     8th May 2018 Aim-listed gold exploration and development company Kefi Minerals on Tuesday said it has formally mandated its bond arranger for the placement of $160-million of listed infrastructure bonds.  

South African output rises as AngloGold delivers at lower cost

By: Martin Creamer     8th May 2018 The smaller South African footprint of gold-mining company AngloGold Ashanti, consisting of one underground mine and one tailings treatment operation on surface, delivered impressive first-quarter results with rising production and reduced rand-denominated costs. Production rocketed 29% at... 

Company invests in training to bridge skills gap in minerals processing

By: Donald Makhafola     4th May 2018 Minerals processing specialist Multotec spent more than R10-million on education and training development in 2017, while an additional R2-million was spent on the newly built, state-of-the-art training centre in Spartan, Kempton Park, says COO Jannie de Jonge. De Jonge says Multotec has “invested... 

ROSOND appoints new Chief Financial Officer

3rd May 2018 Douglas McLean has been appointed as the Chief Financial Officer for ROSOND. Douglas completed his CA (SA) qualification in 1999 having served his articles at Mazaars. He then worked in the United Kingdom, predominately for BP. Upon returning to South Africa in 2003, Douglas worked for a brief... 

Kasbah still struggling with BDO

By: Esmarie Swanepoel     2nd May 2018 ASX-listed Kasbah Resources on Wednesday told shareholders that the company had failed to reach a commercial settlement with BDO Corporate Finance during a Court ordered mediation on April 30. Kasbah in 2017 filed legal proceedings against BDO, seeking damages for a series of claims, including a... 

Lucara appoints new MD for Botswana subsidiary

By: Marleny Arnoldi     2nd May 2018 Diamond miner Lucara Diamond Corporation on Tuesday announced that its Botswana subsidiary Boteti Mining’s CFO and director, Naseem Lahri, has been promoted to Boteti Mining MD.  

Mineral Resources hunts for Wodgina partner

By: Esmarie Swanepoel     1st May 2018 ASX-listed Mineral Resources (MinRes) was looking for a joint venture partner for its Wodgina lithium project, in Western Australia. The company said on Tuesday that it has started a process to sell up to 49% in the asset as part of an offtake and partnering process. 

Wolf achieves ‘encouraging’ Q1 at UK tungsten mine

By: Schalk Burger     30th April 2018 A focus on recovery at the Drakelands tungsten project in Devon, in the UK, and the increase in the tungsten price bolstered Aim-listed specialist metals miner Wolf Minerals during the quarter ended March 31. “It is a very encouraging start to 2018, with the improvements to the gravity fines... 

Alligator River gets exploration funding – Vimy

By: Esmarie Swanepoel     30th April 2018 Uranium explorer Vimy Resources is planning to raise A$6-million to fast-track exploration at its Alligator River project, in the Northern Territory. The company will issue 55-million fully paid ordinary shares at a price of 11c each to new and existing institutional and sophisticated investors,... 

Sub-Saharan Africa GDP uptick predicted on stable oil and metal prices

By: Nadine James     27th April 2018 Sub-Saharan Africa’s growth is projected to reach 3.1% in 2018, and to average 3.6% in 2019/20, reports a biannual analysis of African economies conducted by the World Bank, Africa’s Pulse, which was released by the international finance organisation last week. The growth forecasts are premised... 

Weatherly’s shares fall as it appoints more financial advisers to review possible sale

By: Marleny Arnoldi     26th April 2018 Aim-listed copper miner Weatherly International’s share price on the LSE fell by nearly 70% on Thursday after it announced the appointment of additional financial advisers to review strategic alternatives for the company, including its potential sale.  

Russia, betting on EU-Trump talks, keeps powder dry in Rusal row for now

By: Reuters     26th April 2018 Moscow is holding off on taking retaliatory measures against the United States for imposing sanctions on Rusal, hoping the EU can persuade Washington to ease restrictions against the world's second largest aluminium producer further, sources told Reuters. The United States on Monday gave... 

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