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Topic

Po Valley makes significant commercial gas discovery in Italy

By: Megan van Wyngaardt     19th January 2018 Shares in Australia’s Po Valley Energy (PVE) surged on Friday, reaching an intraday high of 10c each, up from the previous day’s closing price of 4c each, following the news of significant commercial discovery at its new Selva gas field in northern Italy. By 16:00 in Sydney, the stock traded at... 

Millennials snubbing diamonds has hedge fund seeing slump deepen

By: Bloomberg     19th January 2018 Diamonds are set to slump further, according to a hedge fund whose bet on marijuana made it the world’s best performer in 2016. Prices of the precious gem may slump as much as 10% this year as it loses appeal with younger consumers and faces challenges from synthetic alternatives, said... 

Miner prioritises zinc production in strong market

     19th January 2018 Canadian miner Nevsun Resources has ensured improved zinc recoveries at its zinc/copper/gold Bisha mine, in Eritrea, through its decision in August to allocate additional capital to the mine and delay the delivery of the prefeasibility study (PFS) for its Serbia-based Timok copper/gold to the... 

Kefi approves final model for Tulu Kapi project

By: Megan van Wyngaardt     18th January 2018 The final project models for Kefi Minerals’ Tulu Kapi project have now been agreed to by the government of Ethiopia, contractors Lycopodium and Ausdrill/African Mining Services and preferred project financiers. "The models were uploaded into the formal financing data rooms. They show some... 

Middle Island plans follow-up drilling to enhance Wirraminna deposit

By: Dylan Slater     18th January 2018 Gold exploration and development company Middle Island on Thursday reported the outcomes of a pit optimisation study for the Wirraminna deposit, in Western Australia.  

BHP maintains guidance for most commodities, targets 6% volume growth

By: Dylan Slater     18th January 2018 Multinational miner BHP on Thursday kept its full-year production guidance unchanged for all commodities, except metallurgical coal, and said that it would achieve 6% volume growth in the 2018 financial year.  

Firestone Diamonds revises Liqhobong mine plan to yield better results

By: Megan van Wyngaardt     17th January 2018 Aim-listed Firestone Diamonds, which sold 156 942 ct of diamonds recovered at its Liqhobong mine, in Lesotho, in the quarter ended December 31, has adopted a revised mine plan to increase cash flow in the short term, while resolving issues that affect the value of recovered diamonds. Diamonds... 

Acacia completes sale of royalty over Burkina Faso mine

By: Megan van Wyngaardt     17th January 2018 Embattled gold miner Acacia Mining has completed the sale of an existing 2% net smelter royalty over the Houndé mine, in Burkina Faso, for $45-million. The LSE-listed company in December said it was selling the royalty to Canadian miner Sandstorm Gold after its three producing gold mines in... 

Saracen’s December quarter underpins financial performance

By: Natasha Odendaal     17th January 2018 JOHANNESBURG (miningweekly.com) – ASX-listed Saracen Mineral on Wednesday reported a solid December quarter performance, with production and costs ahead of the yearly guidance and a strong free cashflow that underpinned a growing bank balance. The company produced 77 522 oz at an all-in... 

Gold losses in years past keep producers from buying more mines

By: Bloomberg     17th January 2018 Stung by some lousy investments that led to billions of dollars in losses a few years ago, the world’s major gold producers have cut way back on mining deals – even as metal prices posted their biggest rally since 2010. The value of the industry’s transactions, from acquisitions to... 

NextSource soars on Japanese approval of registered SuperFlake product trademark

By: Henry Lazenby     17th January 2018 The TSX-listed equity of one of the graphite industry’s best kept secrets, NextSource Materials, has recorded significant gains on Tuesday following a company announcement that Japan has approved the company’s registration of ‘SuperFlake’ graphite as a trademark in the country. The registration... 

Why Verderflex hoses outlast competitor hoses.

     16th January 2018 Why do some hose pumps have short hose life and what unique features does Verderflex have that offer extended hose life beyond that of our competitors? Hoses fail for one main reason: fatigue.  “Although there can be many reasons for a hose to failure, fatigue is one of the main seasons. Speed,... 

Polyus ups 2018 guidance, Natalka to reach full capacity earlier than planned

By: Mariaan Webb     16th January 2018 Russian gold major Polyus has exceeded its gold production forecast for 2017, and has increased its estimate for 2018. The company increased its gold production by 10% to 2.16-million ounces in 2017, surpassing its guidance of 2.075-million ounces to 2.125-million ounces by 3%. 

Perseus set for first gold pour at Sissingué ahead of schedule

By: Natasha Odendaal     15th January 2018 First gold from dual-listed Perseus Mining’s Sissingué gold mine, in Côte d’Ivoire, is now expected by the end of January, ahead of schedule, with ramp up to full-scale commercial production expected to be achieved by March 31. This followed the introduction of crushed ore to the mill and the... 

Triton starts due diligence on WA lithium asset acquisition

By: Natasha Odendaal     15th January 2018 ASX-listed Triton Minerals on Monday said it had started due diligence on the Western Australia lithium assets and royalties that it planned to acquire from Westgold Resources. The Australian company in December entered into an option agreement with Westgold for a package of lithium assets in the... 

Centrex says Ardmore phosphate study shows strong returns

By: Natasha Odendaal     15th January 2018 A scoping study for the Ardmore phosphate project, in north-west Queensland, has revealed strong potential returns and further cemented conceptual economics, ASX-listed Centrex Metals said on Monday. The company, which acquired the project in June 2017, has been focused on developing a phosphate... 

First Majestic to buy distressed Primero, reforms San Dimas silver stream accord

By: Henry Lazenby     12th January 2018 The dismantling of former precious metals producer Primero Mining is nearly complete with the company announcing on Friday that Mexico-focused miner First Majestic Silver will buy the distressed company for $320-million. Under terms of an arrangement agreement between the two companies, all of... 

Mining profits are super-charged and BlackRock wants to get paid

By: Bloomberg     12th January 2018 The world’s mining sector is firing on all cylinders again, and one of it’s biggest investors can’t wait to get paid. After five years of under-performance, a combination of synchronous global growth and under-investment in new supply has driven up commodity prices, increasing cash flow and... 

Canadian companies struggle to plan for post-NAFTA world

By: Reuters     12th January 2018 Canadian industries that would be most acutely impacted by the death of the North American Free Trade Agreement are unable to meaningfully plan for a possible post-NAFTA world given the uncertainty of what could replace it, analysts and executives said. With three quarters of Canadian exports... 

Ascendant on the rise as team delivers on 2017 mine turnaround strategy

By: Henry Lazenby     11th January 2018 Investors welcomed a report by TSX-listed base metals producer Ascendant Resources on Thursday that it has beaten its maiden 2017 production guidance after successfully executing a turnaround strategy for its underperforming flagship asset. The news pushed the miner’s TSX-listed stock more than... 

Regency eyes larger role in EV market

By: Natasha Odendaal     11th January 2018 London-listed Regency Mines plans to reposition itself to fully leverage the mineral resources to be used in the rising electric vehicle (EV) batteries and related energy technologies. The company on Thursday said in an update to shareholders that it aimed to rebrand its nickel/cobalt and related... 

eCobalt ships 3 t sample for pilot-scale testing

By: Henry Lazenby     10th January 2018 Project developer eCobalt Solutions has shipped a 3 t mineralised sample from its Idaho cobalt project (ICP) for pilot-level testing at Dundee Sustainable Technologies’ (DST’) facilities, in Quebec. The TSX-listed cobalt junior said on Wednesday that the testing will be done to further confirm... 

Centamin exceeds FY17 production guidance, aims for solid 2018 growth

By: Mia Breytenbach     10th January 2018 LSE- and TSX-listed Centamin achieved “a strong operational finish” to 2017, with the company’s Sukari mine, in Egypt, having produced 154 298 oz of gold in the fourth quarter, resulting in full-year gold production of 544 658 oz – exceeding guidance of 540 000 oz. “All sections of the mine... 

Nemaska ups lithium game with Whabouchi feasibility bettering scope, flexibility, economics

By: Henry Lazenby     9th January 2018 Budding Canadian lithium producer Nemaska Lithium has published more bullish scenarios for its flagship Whabouchi mine and concentrator, located in the Eeyou Istchee James Bay territory, and on the hydromet plant, located in Shawinigan, both in Quebec. With more than a year’s experience at the... 

Seabridge mobilises to drill Courageous Lake

By: Henry Lazenby     9th January 2018 TSX- and NYSE-listed precious metals explorer Seabridge Gold is mobilising crew and equipment to start an exploration campaign at its 100%-owned Courageous Lake project, located in Canada’s Northwest Territories, in February. The Toronto-based explorer plans to drill 36 holes over 7 200 m to test... 

Kimberley’s diamond endowment given new sparkle 

By: Martin Creamer     8th January 2018 Generations of diamond processing experience, interwoven with modern know-how, is extending the diamond endowment of the city of Kimberley. Kimberley Ekapa Mining Joint Venture (KEM-JV) has come up with a viable business model that returns a diamond sparkle to the city renowned for its... 

European chipmakers tumble on iPhone demand scare; miners rally

By: Reuters     27th December 2017 European tech stocks tumbled on Wednesday as the region emerged from a two-day trading holiday and investors reacted to reports that demand for Apple's iPhone X may be weaker than expected. The pan-European STOXX 600 inched 0.1% higher, as the downturn in the high-performing tech sector was... 

Pan American Silver develops La Morocha deposit to supplement Manantial Espejo feed

By: Henry Lazenby     22nd December 2017 A prefeasibility study on Pan American Silver's La Morocha deposit, which is part of the Joaquin project, located in Santa Cruz, Argentina, has recommended that the deposit be developed to provide supplemental ore feed for the Manantial Espejo mill. Vancouver-based Pan American said on Thursday... 

Pilbara Minerals signs deals with GAMG, Atlas Iron for lithium

By: Megan van Wyngaardt     20th December 2017 Australian lithium developer Pilbara Minerals has entered into an offtake agreement with Global Advanced Metals (GAMG) for the sale of 100 000 lb of contained tantalum pentoxide-in-concentrates from its 100%-owned Pilgangoora lithium/tantalum project in Western Australia, over a two-year term.... 

Rio Tinto embarks on automation roll-out at Pilbarra iron-ore operations

By: Megan van Wyngaardt     18th December 2017 Mining giant Rio Tinto will expand its fleet of autonomous haul trucks at its iron-ore operations in the Pilbara by more than 50% by 2019, after signing agreements with manufacturers Caterpillar and Komatsu to convert traditional trucks to autonomous vehicles. A total of 29 Komatsu haul trucks... 

Corsa Coal rises 23% on strong 2018 production outlook

By: Henry Lazenby     16th December 2017 The TSX-V-listed stock of Corsa Coal rallied as much as 23% on Friday following a company announcement calling for a much stronger metallurgical coal production outlook in 2018 and an overall increase in premium low volatile metallurgical coal sales. “In 2018, Corsa is guiding towards... 

Hummingbird starts Yanfolila ore commissioning

By: Natasha Odendaal     15th December 2017 Aim-listed Hummingbird Resources expects first gold production from its Yanfolila mine, in Mali, before the end of December as ore commissioning gets under way. “Ore commissioning represents the final step ahead of first gold production at Yanfolila. Everybody on site is totally focused on a... 

Eighth high-value Angolan diamond discovered

     15th December 2017 Australian diamond mining and exploration company Lucapa Diamonds’ Lulo mine, in Angola, delivered pleasing diamond recoveries in November, on the back of the eighth discovery larger than 100 ct at the mine, reinforcing a strong performance from its operations in October, states MD Stephen... 

Initial mining programme expected to start next year

     15th December 2017 Marine and land-based mining company Diamond Fields International has reaffirmed its commitment to its Namibian operations, announcing at the start of November an initial mining programme for its ML111 licence in offshore Namibia in 2018.  The initial mining programme for the licence area will... 

Underground mine plans for Karowe moving forward

     15th December 2017 The results of a preliminary economic assessment (PEA) announced by diamond miner Lucara Diamonds in November demonstrate the potential economic viability for the development of an underground mine at Karowe, in Botswana. The development of the underground mine is planned after the completion of... 

Europe’s coal plants will bleed more cash by end of 2020s

By: Bloomberg     15th December 2017 Almost all coal plants in the European Union will be outspending their income by the end of the next decade, relying on subsidies to stay open to back up wind and solar generation. About 54 percent of the region’s plants already fail to break even, according to a report by London-based Carbon... 

Highland board adopts dividend policy

By: Mariaan Webb     13th December 2017 The board of Aim-listed Highland Gold on Wednesday announced its dividend policy, which states that its total payout for each financial year will be 20% of net cash flow from operating activities. The board may also recommend the distribution of additional cash on the balance sheet through... 

Separate stock exchange listing for Aura’s Sweden project

By: Mariaan Webb     13th December 2017 Dual-listed uranium and gold focused Aura Energy has started the process to list its Häggån project in Sweden separately on multiple international exchanges to “maximise the value of the battery metal content” of the project. The project contains vanadium, molybdenum, cobalt, neodymium, nickel... 

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