http://www.miningweekly.com
R/€ = 15.48 Change: -0.01
R/$ = 13.30 Change: -0.03
Au 1227.12 $/oz Change: -16.99
Pt 817.00 $/oz Change: -12.27
 

Topic

Bacanora raises cash to start Sonora construction

By: Mariaan Webb     16th July 2018 London-listed Bacanora Lithium on Monday announced significant progress in the raising of the construction capital needed to build Stage 1 of its Sonara lithium project, in Mexico, announcing a conditional $90-million investment from blue chip investors and a $100-million placing of ordinary... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

Shondoni to help sustain Sasol’s Secunda Complex until 2050

By: Nadine James     13th July 2018 The inauguration of Sasol's R5.5-billion Shondoni Colliery, last week, was attended by Mineral Resources Minister Gwede Mantashe, Mpumalanga Finance, Economic Development and Tourism MEC Eric Kholwane and Goven Mbeki municipality executive mayor Thandiwe Ngxonono. The Shondoni mine is part of a... 

Free-carried interest will foster loyalty among mineworkers – Mantashe 

By: Nadine James     13th July 2018 Mineral Resources Minister Gwede Mantashe noted that the free-carry stipulation in the latest draft Mining Charter will result in workers deriving immediate value, thereby fostering diligent performance and loyalty towards employers, as workers strive to enhance and improve “their" mine. “It is... 

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine

By: Reuters     12th July 2018 Indonesia on Thursday struck an agreement with Freeport-McMoRan and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85-billion. The heads of agreement establishes a structure for Indonesia, through its state-owned mining... 

Nautilus secures additional loan from Deep Sea Mining

By: Creamer Media Reporter      12th July 2018 TSX-listed Nautilus Minerals on Thursday announced that it had received a loan from Deep Sea Mining Finance for $650 000, under a previously announced credit facility of up to $34-million between the company, two of its subsidiaries and the lender. Pursuant to the agreement, Nautilus has issued... 

Ramaphosa embarks on Eskom overhaul

By: Reuters     12th July 2018 A month after Cyril Ramaphosa took the helm of South Africa's ruling African National Congress (ANC) in December, he called an urgent meeting with then-President Jacob Zuma and senior ministers to save state power firm Eskom. Ramaphosa understood sweeping changes were needed at the struggling... 

Mining Charter needs to start afresh – says expert

12th July 2018 As controversy and delays around the Third Mining Charter continue to deter investment – it’s time to start afresh, says Soria Hay, BEE expert and Head of Corporate Finance at Bravura, an independent investment banking firm specialising in corporate finance and structured solutions. “A one-month... 

Indonesia reaches preliminary deal with Freeport on Grasberg

By: Bloomberg     12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... 

Rand Merchant Bank cements its relationship with First Quantum Minerals

11th July 2018 The positive outlook for the copper sector bodes well for Zambia and its copper mines with copper comprising around 60% of the country’s total exports, while the country is expected to produce more than 1 million tonnes of the metal this year. Mining companies such as Canadian-based First... 

Kirkland Lake’s Yee joins Eldorado as finance chief

By: Mariaan Webb     11th July 2018 Gold and base metals producer Eldorado Gold has appointed Kirkland Lake’s Philip Yee as executive VP and CFO with effect from September this year. Announcing the appointment on Tuesday, Eldorado president and CEO George Burns said Yee would strengthen the company’s leadership team. “Phil brings... 

Orosur to issue shares for advancement of Anzá project

By: Marleny Arnoldi     10th July 2018 TSX- and Aim-listed gold producer Orosur Mining continues to advance discussions to finance the next stage of exploration at the Anzá project, in Colombia.  

Prophecy mulls vanadium royalty company spinoff to finance Nevada project

By: Creamer Media Reporter      10th July 2018 TSX-listed Prophecy Development is considering spinning off a vanadium royalty and streamlining company to finance the construction of the Gibellini vanadium project, in Nevada. The spinning off of Vanadium Royalty Company (VRC) also provides investors with direct participation in vanadium... 

Lundin signs Fruta del Norte offtake, closes $350m debt facility

By: Mariaan Webb     9th July 2018 The Fruta del Norte gold project, in Ecuador, has been significantly derisked from a financial standpoint with the closing of a $350-million senior debt facility and the signing of an offtake agreement for about half of its production over the first eight years of operation. A syndicate of seven... 

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

McKinsey overhauls South African office after graft scandal 

By: Reuters     9th July 2018 McKinsey has made sweeping changes to its South Africa business to try to rebuild its reputation following an ill-fated deal with friends of scandal-plagued former President Jacob Zuma. Kevin Sneader, who started as McKinsey's global managing partner last week, announced on Monday that the firm... 

Chilean miner Mantos Copper seeks buyer to help finance expansion

By: Reuters     6th July 2018 Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said. The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought... 

Private equity useful in current economy

6th July 2018 Using private equity to gain capital, especially for small to medium-sized enterprises (SMEs) that might not meet the criteria to qualify for bank loans, seems like a preferential means of raising capital in South Africa’s current tough economic climate, according to private equity company RMB... 

Free-carry interest will foster loyalty among mining employees – Mantashe

By: Nadine James     5th July 2018 Mineral Resources Minister Gwede Mantashe noted that the free-carry stipulation in the latest draft Mining Charter will result in workers deriving immediate value, thereby fostering diligent performance and loyalty towards employers, as workers strive to enhance and improve “their" mine. “It is... 

Eramet searches for lithium deposits in Chile, Argentina, Brazil - CEO

By: Reuters     5th July 2018 French miner Eramet SA is looking to acquire lithium deposits in Chile, Argentina and Brazil to expand its portfolio into the minerals used in batteries for electric vehicles, its chief executive said on Thursday. "Our priority is to develop our existing lithium deposit in Argentina. But we are... 

First Quantum given time to solve $7.9bn Zambian tax row

By: Bloomberg     5th July 2018 Zambia agreed to give First Quantum Minerals more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9-billion tax bill, according to the Finance Minister. The Vancouver-based company is challenging the assessment from Zambia’s... 

Shondoni to help sustain Sasol's Secunda Complex until 2050 

By: Nadine James     5th July 2018 The inauguration of Sasol's R5.5-billion Shondoni Colliery, on Thursday, was attended by Mineral Resources Minister Gwede Mantashe, Mpumalanga Finance, Economic Development and Tourism MEC Eric Kholwane and Goven Mbeki municipality executive mayor Thandiwe Ngxonono. The Shondoni mine is part of a... 

Bacanora secures $150m debt for Mexico lithium project

By: Marleny Arnoldi     5th July 2018 The Sonora lithium project is one step closer to fruition with Bacanora Lithium on Thursday announcing that it had secured $150-million in debt for the development of Stage 1 of the Mexico mine.  

Imaloto IPP in Madagascar progressed well during second quarter

By: Marleny Arnoldi     4th July 2018 The granting of a 30-year concession agreement during the second quarter of this year was a critical milestone for the Imaloto coal-fired independent power project (IPP), in Madagascar, aligning its development with that of the government’s broader plans, Bushveld Minerals CEO Fortune Mojapelo... 

Eurasia’s Monchetundra mining permit in ‘final stages’

By: Simone Liedtke     3rd July 2018 Aim-listed Eurasia Mining on Tuesday announced the approval of the Monchetundra mine permit application by the Russian Ministry of Economic Development (MOED). The mine permit application, for the 80%-owned two-million-ounce platinum-group metals (PGM) reserve and resource, is now awaiting sign... 

Feasibility study on Western Cape rare earths mine to be completed in 6 to 12 months

By: Anine Kilian     29th June 2018 The Steenkampskraal rare earths mine, owned by developer Steenkampskraal Holdings, in the Western Cape, is aiming to be a building block in a global rare earths supply chain independent of China. Manufacturers globally are expressing concern over China’s dominance of these strategic elements,... 

Feasibility study on Western Cape rare earths mine to be completed in 6 to 12 months

By: Anine Kilian     29th June 2018 The Steenkampskraal rare earths mine, owned by developer Steenkampskraal Holdings, in the Western Cape, is aiming to be a building block in a global rare earths supply chain independent of China. Manufacturers globally are expressing concern over China’s dominance of these strategic elements,... 

Rio-Carb commissions study on second-tier mineral beneficiation

By: Nadine James     29th June 2018 Chromium carbide (CrC) wear solutions provider Rio-Carb MD Martin Maine has identified a gap in the mining sector in the form of a lack of local beneficiation in the second-tier supply chain in the South African mining industry, and has commissioned academic research to establish how the country... 

Intermin hopes for Goongarrie Lady decision in 2019

By: Esmarie Swanepoel     28th June 2018 ASX-listed Intermin Resources was hoping to take a development decision on its Goongarrie Lady gold project, in Western Australia, in 2019. This comes after a feasibility study (FS) showed that the project could deliver 12 700 oz of gold over a seven-month mine life. The FS estimated that the... 

Kirkland Lake pursues arbitration over Centerra’s royalty portfolio sale

By: Mariaan Webb     27th June 2018 Canadian gold miner Centerra Gold has completed the sale of its royalty portfolio to a subsidiary of Triple Flag Mining Finance Bermuda for $155-million in cash. The agreement comprised the sale of Centerra subsidiary AuRico Metals and 100% of the shares in its indirect wholly-owned subsidiary... 

Yamana’s Cerro Moro reaches commercial milestone

By: Mariaan Webb     26th June 2018 Canadian precious metals miner Yamana Gold has declared commercial production at its Cerro Moro gold and silver mine in Santa Cruz, Argentina. The mine poured its first gold and silver doré in May and subsequently ramped up to commercial production.  

Deloitte expands mining industry service offering

By: Marleny Arnoldi     26th June 2018 Global professional services firm Deloitte is expanding its suite of technical and strategic solutions to the mining industry, with the launch of Deloitte Technical Mining Advisory (DTMA).  

Orion Resource Partners raising $500m in royalty, streaming fund - sources

By: Reuters     26th June 2018 Orion Resource Partners is raising up to $500-million in a fund financing potash, tungsten and iron-ore mines, sources close to the matter said, meeting miners' need for funding and investors' appetite for long-term assets. Miners are turning to alternative sources of finance as the industry has... 

Alrosa to base dividends on free cash flow - Ministry

By: Reuters     26th June 2018 Russian State-controlled diamond miner Alrosa will base its dividend payments on free cash flow rather than net profit starting from 2018, the Finance Ministry said on Tuesday. The company's dividend payouts will not be lower than 50% of net profit, the ministry added. 

Chaarat appoints Volynets CEO, moves Benbow to COO

By: Creamer Media Reporter      25th June 2018 Aim-quoted Chaarat has appointed merger and acquisition (M&A) strategist Artem Volynets as CEO with immediate effect, replacing Robert Benbow who is moving to the role of COO. Volynets, who joined the board of Chaarat in March, has two decades of experience in M&A, capital markets, and senior... 

Chile's SQM decides not to hire ex-chair Ponce as adviser

By: Reuters     25th June 2018 Chile lithium miner SQM said on Friday it had decided against hiring former chairman Julio Ponce as an adviser, reversing a decision that had sparked criticism from politicians and Chile's business community. SQM announced plans to hire Ponce earlier in June, just months after the miner inked a... 

Top Dalradian shareholder supports Orion Mine takeover offer

By: Reuters     22nd June 2018 M&G Investment Management, the biggest shareholder in Dalradian Resources, said on Thursday it was supportive of a friendly cash takeover offer for Dalradian from private equity group Orion Mine Finance. The C$1.47 a share offer is fair, Jamie Horvat, director of global equities at M&G, told... 

Russian Jan-March gold output at 51.6 t

By: Reuters     21st June 2018 Russia produced 51.6 t of gold in the first three months of 2018, up from 50.9 t in the same period in 2017, the Finance Ministry said on Thursday. Production for the period included 39.78 t of mined gold compared with 38.93 t a year ago, the Ministry said. 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close