R/€ = 16.47 Change: 0.01
R/$ = 14.02 Change: -0.05
Au 1292.84 $/oz Change: 2.84
Pt 953.50 $/oz Change: 5.50


Galantas highlights need to secure sufficient funding

By: Megan van Wyngaardt     17th November 2017 Following disappointing results for the third quarter ended September 30, dual-listed miner Galantas Gold Corporation on Friday said its future viability depended on the consolidated results of its wholly-owned subsidiary Cavanacaw Corporation, which holds 100% in Galantas’ Omagh Minerals and... 

Lemur appoints owner’s engineer, technical advisers for Imaloto BFS

By: Mia Breytenbach     17th November 2017 Aim-listed Bushveld Minerals’ Lemur Resources subsidiary, which is developing an integrated thermal coal mining and independent power producer asset in Madagascar, has appointed an owner’s engineer and technical advisers for  the bankable feasibility study (BFS) for the Imaloto power project.... 

Catriona Beadel

By: Martin Creamer     17th November 2017 This week Mining Weekly features Catriona Beadel, founder and director of Young Mining Professionals UK, a networking and mentoring group 

'A good number of investors' considering countries offering better return-on-investment prospects than SA

By: Dylan Slater     17th November 2017 Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on... 

CSIR signals renewables-led electricity mix by 2050

By: Terence Creamer     16th November 2017 The CSIR Energy Centre has published updated research outcomes indicating that South Africa’s least-cost electricity mix, by 2050, includes predominantly solar photovoltaic (PV) and onshore wind contributing nearly 80% of the country’s electrical energy. The research outcomes, which were released... 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Eskom admits liquidity is ‘not at desired levels’

By: Terence Creamer     13th November 2017 State-owned electricity producer Eskom acknowledged on Monday that its liquidity levels were “not at the desired levels” and indicated that securing the balance of its funding requirement for the current financial year would depend on addressing pressing governance and leadership issues.... 

Scotgold raises £2.65m in rights issue, details future funding plans

By: Mariaan Webb     13th November 2017 Aim-listed Scotgold on Monday announced it would raise £2.65-million in a rights issue to start development work at its Cononish gold and silver project, near the Loch Lomond and Trossachs National Park in Scotland. Chairperson Nat le Roux has fully underwritten a nonrenounceable rights offer of... 

Chaarat CFO designate to lead project finance process

By: Mariaan Webb     10th November 2017 Kyrgyzstan-focused Chaarat Gold has appointed former Amara Mining finance director Pete Gardner its CFO designate to lead the financing process for the construction of the Tulkubash heap-leach project. Announcing the appointment on Friday, the Aim-listed company said that the financing process... 

Dalradian readies for Curraghinalt permitting phase

By: Mariaan Webb     10th November 2017 Canadian explorer and developer Dalradian Resources will start the permitting process for project in Northern Ireland by the end of this year, when it submits its planning application for building a gold mine at the Curraghinalt deposit. The planning application will be followed by two key... 

Fortune to consider higher cobalt output in Nico feasibility report

By: Henry Lazenby     10th November 2017 Project developer Fortune Minerals plans to increase the production rate at its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories, by between 20% and 30% in a response to feedback from potential strategic partners, the company announced on Thursday. London,... 

Eldorado suspends Skouries development as Greek row intensifies

By: Henry Lazenby     10th November 2017 Canadian miner Eldorado Gold has moved to suspend development of its Skouries project, in Northern Greece, and has launched legal action against the Greek government for not issuing the required permits. The Vancouver-headquartered company said in a statement Thursday that, despite dialogue... 

Uranium producer progresses mine consolidation strategy

     10th November 2017 Canadian uranium miner GoviEx Uranium will acquire the uranium mineral interests of independent power producer African Energy Resources in Zambia, with the Zambian Competition and Consumer Protection Commission announcing in June that it had reviewed and provided its approval for the transaction. 

Miners urged to take heed of Natural Capital Protocol framework

By: Ilan Solomons     10th November 2017 The recently released Natural Capital Protocol promises to give business a new appreciation of the ecosystem services on which they rely, states independent engineering and scientific consultancy SRK Consulting. The protocol was developed by a global multi-stakeholder group representing business,... 

Polyus Q3 net profit falls, capex doubles on Natalka construction

By: Mariaan Webb     9th November 2017 Russia’s top gold producer, Polyus, on Thursday reported a 5% drop in third-quarter net profit to $371-million, reflecting the impact of a gain on derivatives and investments in the prior period, as well as finance costs. The company, which is listed on the LSE, said adjusted net profit... 

Surviving on $3/oz has Lonmin in race against time

By: Bloomberg     9th November 2017 Every day, Lonmin sends thousands of miners hundreds of meters below ground, where they use drills, diggers and explosives to extract about 40 000 metric tons of rock laden with precious metals. The ore is milled, crushed, concentrated, smelted and refined in a month-long process that eventually... 

Gascoyne hedges its bets

By: Esmarie Swanepoel     9th November 2017 Gold developer Gascoyne Resources has taken advantage of the strong Australian gold price, entering into a hedge agreement with the Commonwealth Bank of Australia. The company told shareholders on Thursday that some 82 000 oz of gold from the Dalgaranga gold project, in Western Australia, have... 

Zanaga iron-ore project granted environmental permit

By: Creamer Media Reporter      8th November 2017 The Ministry of Environment of the Republic of Congo (RoC) has granted Aim-listed Zanaga Iron Ore Company (ZIOC) an environmental permit for its Zanaga project. The permit covers the project's first phase of development, which is expected to produce 12-million tonnes of iron-ore. 

Advisory body seeks ‘ideal tax’ in proposed India minerals policy

By: Ajoy K Das     6th November 2017 The Indian government’s apex policy advisory body has advocated that the new National Mineral Policy (NMP) “define an ideal taxation system” for the mining sector and explore the possibility of merging current multiple levies into a globally competitive tax regime. The National Institute for... 

Continued unrest at Elikhulu threatens to ‘adversely impact’ on project, warns Pan African

By: Ilan Solomons     3rd November 2017 South African precious metals miner Pan African Resources has strongly condemned the protest action by some community members at the company’s Elikhulu tailings retreatment plant project, within the Evander gold mine complex, in Mpumalanga, warning that the unrest threatens to disrupt... 

Acacia CEO, CFO to step down

By: Creamer Media Reporter      2nd November 2017 Brad Gordon and Andrew Wray will step down as CEO and CFO of Acacia Mining at the end of this year. Gordon will return to Australia for family reasons, while Wray is pursuing an opportunity elsewhere. 

CuDeco reports Sept quarter results

By: Ilan Solomons     31st October 2017 Queensland copper miner CuDeco earned a positive earnings before interest, taxes, depreciation and amortisation of $3.3-million, gross revenue of $39.8-million and a net revenue of $30.8-million during the three months to September 30, the company reported on Tuesday. CuDeco noted that its... 

South Africa nuclear regulator says expects plant site licence in June

By: Reuters     31st October 2017 South Africa's nuclear regulator said on Tuesday that an installation site licence would likely be granted in June for a nuclear power plant that the finance minister has said Africa's most advanced economy cannot afford. South Africa's nuclear plans are shrouded in controversy and uncertainty,... 

Kefi raises output projections for Tulu Kapi

By: Anine Kilian     31st October 2017 Aim-listed Kefi Minerals has reworked the production plans at its Tulu Kapi gold project, in Ethiopia, with production estimated to expand from 115 000 oz/y to145 000 oz/y. The latest estimates take into consideration the impact of the planned finance structure, reflecting the specifics of the... 

Transnet looking abroad for growth as it again pares back South Africa capex 

By: Terence Creamer     30th October 2017 State-owned freight logistics group Transnet continues to pare back its investment portfolio in the South African, which is expected to grow by less than 1% in 2017. The group, which operates rail, port and pipelines businesses, expects to invest R229.2-billion over the coming seven years,... 

Weatherly postpones debt repayments to Orion

By: Anine Kilian     30th October 2017 Copper miner Weatherly International’s debt repayments to Orion Mine Finance have been rescheduled. Weatherly has entered into a further amendment and restatement agreement in relation to its existing facility with Orion. 

Battery boom relies on one African nation avoiding chaos of past

By: Bloomberg     27th October 2017 The cars of the future will depend increasingly upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. Most major automakers are pledging to build millions of... 

Renascor may opt for staged development at graphite project

By: Esmarie Swanepoel     27th October 2017 Junior Renascor Resources has tapped a staged development as the most economical for its Siviour graphite project, in the Eyre Peninsula of South Australia. A Stage 1 development will deliver 10 800 t/y of graphite, for a capital cost of A$15.9-million, with production slated to start in 2019. 

Lithium Australia hunting for offtake partners

By: Esmarie Swanepoel     27th October 2017 ASX-listed Lithium Australia is looking for lithium chemical offtake partners as part of its financing package for its A$42-million large-scale lithium processing pilot plant (LSPP). The LSPP design is based on lithium carbonate production of 2 500 t/y, which is one-tenth the scale of a... 

Rowan Karstel

By: Martin Creamer     27th October 2017 This wek Mining Wekly features Rowan Karstel, the interim CEO of Buffalo Coal, a 1 250-employee coal exploration, mining and trading company with assets worth abour R500-million 

Chad hires Rothschild to advise on $1bn Glencore debt – sources

By: Reuters     26th October 2017 Chad has hired Rothschild & Co to advise it on restructuring its external debt, namely a more than $1-billion loan from oil trader Glencore, four sources familiar with the matter said. The International Monetary Fund has said the debt held by Chad, one of the world's poorest nations that relies... 

Oil prices still struggling but huge potential ahead for Africa

By: Kim Cloete     26th October 2017 Experts from UK-based Standard Chartered Bank expect the oil price will remain in the $45/bl to $60/bl-plus range. “We are in a lower for a longer cycle,” Standard Chartered Bank global head of energy and natural resources Peter Gaw told delegates at the Africa Oil Week, in Cape Town. 

Govt eager to get mining parties back to the table – Gigaba

By: Natasha Odendaal     25th October 2017 With the implementation of the revised – and heavily contested – Mining Charter Three postponed to December, Finance Minister Malusi Gigaba on Wednesday said it was critical that the current impasse in the mining sector be resolved. Earlier this year, the Department of Mineral Resources (DMR)... 

Pan African warns ‘rogue elements’ threatening development of Elikhulu

By: Ilan Solomons     25th October 2017 South African precious metals miner Pan African Resources has strongly condemned the protest action by some community members at the company’s Elikhulu tailings retreatment plant project, within the Evander gold mine complex, in Mpumalanga, warning that the unrest threatens to disrupt... 

Mad scramble for lithium mines stretches from Congo to Cornwall

By: Bloomberg     25th October 2017 For evidence of just how hot battery ingredient lithium is right now, look no further than Australia’s AVZ Minerals. A penny stock until a few months ago, the mining hopeful has surged about 1 500% this year. The proposition: recasting a remote, century-old tin mine in the Democratic Republic of... 

Philippine panel recommends lifting ban on openpit mining

By: Reuters     24th October 2017 A Philippine government panel on Tuesday recommended lifting the ban on openpit mining and the environment minister said he will support removing the restriction imposed this year by a previous minister and supported by President Rodrigo Duterte. Openpit mining is allowed under the Southeast... 

Kefi gets approval for further exploration in Ethiopia

By: Anine Kilian     23rd October 2017 Aim-listed Kefi Minerals has received confirmation from the Ethiopian Ministry of Mines, Petroleum and Natural Gas that its proposals for further exploration in the Tulu Kapi district area will be granted when development starts on its Tulu Kapi project. The relevant exploration licence... 

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