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Congo nears Eskom power-supply contract to boost copper output

By: Bloomberg     24th April 2017 The Democratic Republic of Congo (DRC) signed a provisional agreement to import power from South Africa that could boost copper production this year by as much as 20%, according to the country’s chamber of mines. State-owned power company SNEL proposed importing 200 MW from South African utility... 

Trump's infrastructure plan a boon for iron-ore, says Australia's Cormann

By: Bloomberg     23rd April 2017 US President Donald Trump’s plan to upgrade the nation’s roads, ports and bridges will drive demand for steel and support iron ore prices, Australia’s Finance Minister Mathias Cormann said. “The US and the Trump administration has put out a very ambitious infrastructure investment program" and... 

Khumani mine, South Africa

By: Thabi Madiba     21st April 2017 An iron-ore mine located 30 km south of Kathu, and about 65 km north of Assmang’s Beeshoek mine, in the Northern Cape, South Africa. 

India raises $186m from Nalco share sale, kicks off FY18 asset sale process

By: Reuters     20th April 2017 India raised 12-billion rupees ($185.7-million) from a 9.2% stake sale in state-run National Aluminium Co (Nalco), the government said on Thursday, kicking off its asset sale programme for the new financial year. The finance ministry aims to raise a total 725- billion rupees through sale of... 

Alphamin appoints Swanepoel, Baloyi to board; starts mine boxcut construction

By: Megan van Wyngaardt     20th April 2017 TSX-listed Alphamin Resources, which is developing the Bisie tin project, in the Democratic Republic of Congo, has appointed Bernard Swanepoel and Paul Baloyi to its board. Swanepoel currently also serves on the boards of miners Impala Platinum, Zimplats, eXtract Limited, African Rainbow Minerals... 

China's Shandong Tyan says talks over on bid for Barrick's Kalgoorlie

By: Reuters     19th April 2017 Shanghai-listed Shandong Tyan Home said on Wednesday its negotiations with Barrick Gold to buy the Canadian operator's 50% stake in Kalgoorlie mine have ended without a deal, citing new capital and acquisition rules in China. Toronto-based Barrick had been reviewing the financial backing behind... 

Sibanye wins US thumbs up for Stillwater acquisition

By: Martin Creamer     18th April 2017 Precious metals mining company Sibanye has received unconditional approval from the Committee on Foreign Investment into the United States on the proposed acquisition of platinum group metals mining company Stillwater, which mines and processes the metals in Montana. Johannesburg- and New... 

Guinea stable, predictable investment destination – Ministry

By: Johane Turkstra     14th April 2017 Guinea is suitable for mining investment, says the Guinea Ministry of Mines and Geology, which will host Symposium Mines Guinea 2017 in Conakry, the country's capital, next month, in partnership with emerging markets-focused business-to-business event organiser AME Trade. The Ministry says the... 

Law firm aides two major Guinea projects

     14th April 2017 Global law firm Norton Rose Fulbright’s teams in London, New York, Paris, Singapore and Washington have successfully advised on two mining projects in Guinea. The team assisted bauxite producer Compagnie des Bauxites de Guinée (CBG) in reaching financial close for the financing of its Sangaredi... 

Liberian gold miner driving near-mine satellite exploration

     14th April 2017 TSX- and Aim-listed West African gold producer Avesoro Resources points to a strong outlook for 2017, with its main aim for the year being the discovery of additional mineable satellite resources within close proximity to its New Liberty gold mine, in Liberia. With numerous high potential targets... 

Strong lithium prices predicted until at least 2021

By: Ilan Solomons     14th April 2017 Lithium prices are likely to remain elevated at around $9 500/t till at least 2021, which is a significant increase on its historic pricings of $6 500/t. This is attributable to rising demand and impending supply deficits from 2019, says lithium and rare earth elements assets developer Cadence... 

Funding under way for revival of old Prieska zinc-copper potential

By: Martin Creamer     12th April 2017 Funding efforts aimed at reviving the old Northern Cape mining area endowed with significant zinc and copper potential are gaining momentum. Acknowledged as the host of one of world’s most noteworthy volcanogenic massive sulphide (VMS) base metal deposits, the Prieska area has a well-recorded... 

Perseus makes positive start to 2017, as Edikan’s Q1 production rises 51% q/q

By: Mia Breytenbach     12th April 2017 Dual-listed gold miner Perseus Mining has made a positive start to 2017, with 48 655 oz of gold produced in the quarter ended March 31. Production for the quarter was 51% higher than that produced in the December 2016 quarter, with the Edikan mine, in Ghana, on track to achieve its production... 

Hummingbird secures $60m debt facility with West African bank Coris

By: Natasha Odendaal     11th April 2017 Aim-listed Hummingbird Resources has secured a four-year $60-million senior secured term debt facility with West Africa-based Coris Bank International to fund the ongoing construction of the Yanfolila gold mine, in Mali. The new debt agreement replaced the funding line previously anticipated with... 

Government support for Botswana mining and related industries trade show

     11th April 2017 The Botswana Ministry of Mineral Resources, Green Technology and Energy Security (formerly the Ministry of Minerals, Energy and Water Resources), has confirmed its support for this year’s Electra Mining Botswana, the largest mining, industrial, electrical and power trade show in Botswana. Citing... 

Tiger secures senior finance facility repayment extension

By: Creamer Media Reporter      10th April 2017 ASX-listed Tiger Resources has secured an extension for the first repayments on its $162.5-million senior financing facility. Taurus Mining Finance Fund, Resource Capital Fund and the International Finance Corporation have agreed to extend the date for payment of the first scheduled repayment... 

Wolf Minerals appoints interim MD as more focus needed on UK asset

By: Anine Kilian     7th April 2017 ASX-and-Aim-listed Wolf Minerals has appointed Richard Lucas as interim MD to succeed outgoing MD Russell Clark, who will step down at the end of April. The company has concluded that greater on site executive team commitment is required to ensure the long-term successful operation of the... 

Junior miners to benefit as a result of investment incentive

By: David Oliveira     7th April 2017 Junior mining companies stand to benefit greatly from increasing investments into venture capital companies (VCCs), which offer investors significant financial returns owing to the Section 12J tax return benefits offered by the South African Revenue Service (Sars). Venture capital company... 

Scaw expands chain-making capacity with R110m investment in automated plant

By: Terence Creamer     6th April 2017 Specialist steel products manufacturer Scaw Metals has invested R110-million to expand and modernise the production of large-diameter chain and masterlink components at its McKinnon Chain factory in Vereeniging, in southern Gauteng. Large-diameter chains are used in various industries for lifting... 

Bell Equipment signs BEE deal with women-owned entity

By: Megan van Wyngaardt     6th April 2017 Heavy equipment manufacturer Bell Equipment has signed a black economic empowerment (BEE) agreement with SiBi Capital, an entity entirely owned and managed by black women. When concluded, SiBi Capital will hold 22.5% of Bell Equipment Sales South Africa (Bessa), the wholly owned subsidiary of... 

Fuzile confirms his 'imminent departure' from Treasury

By: Creamer Media Reporter      5th April 2017 Highly respected National Treasury director-general Lungisa Fuzile has confirmed his imminent departure from the department. Fuzile’s contract was due to end in May 2018. However, prior to the axing of former Finance Minister Pravin Gordhan on March 31, the director-general requested a... 

Business warns of ‘negative spiral’ after reshuffle-induced downgrade

By: Terence Creamer     4th April 2017 Business has warned of a possible “negative spiral” for the country’s economy as a result of President Jacob Zuma’s “ill-considered” March 31 Cabinet reshuffle, which led S&P Global Ratings to downgrade South Africa’s sovereign credit rating to the subinvestment-grade status of BB+, with a... 

CoM calls for ANC, citizens to bring Zuma to account after an ‘illogical and damaging’ decision

By: Megan van Wyngaardt     4th April 2017 The African National Congress (ANC) and South Africa’s citizens should hold President Jacob Zuma to account for the “illogical and damaging” Cabinet reshuffle which led to the country’s credit rating being downgraded to junk status by Standard and Poor’s (S&P’s), the Chamber of Mines said on... 

S&P downgrades South Africa to junk after Zuma’s Cabinet shuffle

By: Creamer Media Reporter      3rd April 2017 S&P Global Ratings lowered South Africa sovereign credit rating on Monday to a subinvestent grade of BB+, from BBB-, on political and institutional uncertainty. It has also sustaiend a “negative outlook” on the country. The downgrade is in direct response President Jacob Zuma’s Cabinet shuffle,... 

Avesoro amends finance facilities

By: Anine Kilian     3rd April 2017 TSX-and-Aim listed Avesoro Resources has completed the legal documentation required to amend its existing finance facilities with Nedbank and FirstRand Bank. According to the amended terms, no further capital repayments are due until March 31, 2018, allowing the company to generate a prudent... 

Chamber of Mines ‘seriously concerned’ about Gordhan’s dismissal

By: Ilan Solomons     31st March 2017 The Chamber of Mines has added its voice to the chorus of parties that are worried about the consequences of President Jacob Zuma’s decision to reshuffle his Cabinet. Those that were removed from their positions included Finance Minister Pravin Gordhan, his deputy Minister Mcebisi Jonas, Tourism... 

On-The-Air (31/03/2017) 

By: Martin Creamer     31st March 2017 Platinum received a massive boost this week when the mayors of the world’s biggest cities launched a huge programme to tackle urban air pollution; Mining doyen Brian Gilbertson this week blamed the collapse of the platinum price on producers; and A black-led minerals company has secured finance... 

Coal junior targets near-threefold output increase to 10Mt/y in two years

By: Ilan Solomons     31st March 2017 Junior coal mining company Canyon Coal is producing 300 000 t/m of run-of-mine (RoM), which equates to 3.6-million tons of coal a year across all its operations. However, the company is aiming to increase this to ten-million tons a year over the next two years, thereby making it a midtier coal... 

Zuma’s night of the long knives

By: News24Wire      31st March 2017 President Jacob Zuma has fired Finance Minister Pravin Gordhan in his biggest Cabinet reshuffle yet since assuming office in 2009. In a brutal display of power, the president fired five ministers, including former tourism minister Derek Hanekom, who asked for Zuma to be recalled last year. 

Angola aims to attract major mining investor, develop local ones

By: Keith Campbell     31st March 2017 The copper/cobalt belt, known as the Central African Copperbelt, already well-known and exploited in Zambia and the Democratic Republic of Congo, also extends into Angola. This has been determined by surveying activities carried out under Angola’s National Geology Plan (known by the Portuguese... 

Bushveld outlines vision to transform from explorer to junior miner

By: Ilan Solomons     31st March 2017 Diversified mineral development company Bushveld Minerals is confident that it will soon unlock the vanadium mineral resource potential of the Bushveld Igneous Complex (BIC) – which spans the North West, Limpopo, Gauteng and Mpumalanga provinces – to propel the company from a junior explorer to a... 

Coal junior targets near-threefold output increase to 10Mt/y in two years 

By: Ilan Solomons     31st March 2017 Junior coal mining company Canyon Coal is producing 300 000 t/m of run-of-mine (RoM), which equates to 3.6-million tons a year of coal across all its operations. However, the company is aiming to increase this to ten-million tons a year over the next two years, thereby making it a midtier coal... 

Harmony aims to increase gold production from 1.1Moz to 1.5Moz in three years

By: Ilan Solomons     31st March 2017 Dual-listed Harmony Gold is aiming to increase its yearly gold production from the current 1.1-million to 1.5-million ounces over the next three years. This would be achieved by undertaking expansions at its operations in South Africa, the rest of Africa and Papua New Guinea, while also... 

Business warns of downgrade threat amid Gordhan uncertainty

By: Natasha Odendaal     28th March 2017 The Chamber of Mines (CoM) is the latest business entity to express concern that President Jacob Zuma’s unexpected decision to cut short an international investor roadshow led by Finance Minister Pravin Gordhan will leave investors unsettled and raise the possibility of a downgrade. Media reports... 

Simpson dismissed from Peninsula board

By: Esmarie Swanepoel     28th March 2017 ASX-listed Peninsula Energy has announced the immediate departure of its MD and CEO John Simpson, who will also be stepping down from the board. Wayne Heili has been appointed CEO and MD, effective April 3. 

BFS estimates A$271m capital cost for Thunderbird Phase 1 development

By: Esmarie Swanepoel     24th March 2017 The bankable feasibility study (BFS) on the Thunderbird mineral sands project, in Western Australia, has increased projected capital requirements from the A$271-million estimated in the prefeasibility study (PFS), to A$348-million. The BFS was based on an initial 8.5-million-tonne-a-year... 

‘Women, local communities must play greater role in mining’

By: Ilan Solomons     24th March 2017 Women must be encouraged and supported to play a greater role in Africa’s mining industries, states Zambian Mines, Energy and Water Development Minister Christopher Yaluma. The Minister, who was speaking at the Alternative Mining Indaba in Cape Town, last month, said that one of the greatest... 

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria

By: Ilan Solomons     22nd March 2017 Dual-listed Harmony Gold is aiming to increase its yearly gold production from the current 1.1-million to 1.5-million ounces over the next three years. This would be achieved by undertaking expansions at its operations in South Africa, the rest of Africa and Papua New Guinea, while also... 

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