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Teck declares supplemental dividend of C$0.40 a share

By: Henry Lazenby     17th November 2017 Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of... 

Consultancy looks to reduce cost of complying with new regulations

By: Nadine James     17th November 2017 Mining consultancy The MSA Group is liaising with various industry players including mining companies, insurers, law and auditing firms to establish a consistent approach to assessing and reviewing mine closure liability. They believe that this collaboration will result in greater understanding... 

Customised spillminator supplied to South African gold mine

By: Victor Moolman     17th November 2017 Engineering solutions and steel fabrication company Lani Service Centre, based in Sebenza, Johannesburg, has supplied a tailor-made spillminator equipped with vesconite bushings to a local gold mine for its underground conveyor and hopper system. “The bushings are self-lubricating, can withstand... 

Collaboration with engineering firm yields nigh-R100m cost saving for Harmony

By: Mia Breytenbach     17th November 2017 JSE-listed Harmony Gold has partnered with Pretoria-based engineering company ETA Operations (ETA), formerly known as HVAC International, to improve the operational efficiency of Harmony’s deep-level gold mines in South Africa, subsequently resulting in significant cost savings. The operational... 

Mkango shares jump on Talaxis investments

By: Natasha Odendaal     16th November 2017 The share price of Mkango Resources on the LSE surged by up to 135% on Thursday afternoon after the company reported securing a £12-million direct investment that will enable the funding of a bankable feasibility study (BFS) for its Songwe Hill rare-earth project, in Malawi. The company’s shares... 

Geomysore’s Jonnagiri has potential to be India’s first private gold mine

By: Mariaan Webb     16th November 2017 Gold firm Geomysore Services India, in which Aim-listed Lionsgold has a 21.15% shareholding, has completed a feasibility study for the Jonnagiri gold project, demonstrating the project’s potential to be developed into India’s first privately-owned gold mine. The Jonnagiri project, in the state of... 

Mustang announces outcomes of ruby strategy review

By: Esmarie Swanepoel     16th November 2017 Ruby miner Mustang Resources will implement a number of measures to fine tune its operational strategy, including temporarily suspending the artisanal miner development programme (AMDP) following disappointing results from its maiden tender. Mustang earlier this month launched a review into the... 

Orion’s shares rise on Prieska metallurgical testwork update, loan facility extension

By: Megan van Wyngaardt     15th November 2017 Dual-listed base metals miner Orion Minerals’s share price on the JSE was trading 6.15% higher on Wednesday after the company announced the positive results from initial metallurgical test work at its Prieska zinc/copper project and the extension of a loan facility. Orion and mining-focused,... 

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency

By: Terence Creamer     15th November 2017 A new study argues that cash-strapped Eskom could make immediate costs savings of up to R17-billion and boost its liquidity, without undermining security of supply, by accelerating the decommissioning of three of its older coal-fired power stations and by halting construction of units 5 and 6 at... 

India’s Steel Ministry seeks globally accepted regulations, tax for iron-ore mining

By: Ajoy K Das     15th November 2017 India’s Steel Ministry is seeking to align the domestic iron-ore mining industry with globally accepted regulations and practices as the country aims to be a 300-million-ton-a-year globally competitive steel producer by 2030. In the course of inter-Ministerial consultations about a new National... 

Tullow Oil raises FY production guidance on Ghana fields

By: Reuters     13th November 2017 Tullow Oil raised its production guidance on Wednesday, aided by higher output from its TEN and Jubilee fields in Ghana. The company now expects full-year West Africa net oil production, including production-equivalent insurance payments, to come in at 85 000 bbl/d to 89 000 bbl/d, compared with... 

Richland sees signs of sapphire pricing recovery

By: Mariaan Webb     13th November 2017 Aim-listed Richland Resources’ strategy shift to larger-scale sales events appears to be yielding results, with CEO Bernard Olivier reporting on Monday that the company had started to see signs of prices recovering. Richland, which owns the Capricorn mine in Queensland, achieved total sales... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Wheaton Precious Metals posts 20% dip in Q3 profit

By: Henry Lazenby     10th November 2017 The world’s largest precious metals streaming firm Wheaton Precious Metals (WPM) has reported a 20% year-on-year drop in profit, as lower attributable production and lower metals prices weighed on the bottom line. For the three months ended September, the Vancouver-based company recorded net... 

Caterpillar selected to help install solar PV system for Otjikoto

     10th November 2017 Gold producer B2Gold has selected capital equipment giant Caterpillar (Cat) and global industrial company Barloworld to install a solar photovoltaic (PV) system at Otjikoto mine, Namibia, which will provide 7 MW of solar power to the mine. “For many years, B2Gold has relied on dependable,... 

Madagascar graphite mine poised for global success

By: Robyn Wilkinson     10th November 2017 Proving its growing strength in the graphite market, Australian industrial mineral concentrate producer Bass Metals – the only graphite producer currently listed on the ASX – last month sold, in advance, 50%, or 3 000 t/y, of flake graphite concentrate from the first stage of its Graphmada mine’s... 

Colliery supply success guides safety solutions provider’s African expansion

By: Tasneem Bulbulia     10th November 2017 Leveraging its success after 15 years of working with the Botswana-based Morupule colliery, South African mining safety and monitoring solutions provider Monitech is considering further expansion into Africa. Benoni-based Monitech supplied both eight-channel controller systems and Laser Guard... 

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,... 

Santos names Narrabri among its five core assets

By: Esmarie Swanepoel     9th November 2017 Oil and gas major Santos has reclassified the Narrabri project, in New South Wales, as a core project in the company’s new transform-build-grow strategy. MD and CEO Kevin Gallagher said at an investor day on Thursday that Santos had simplified the business to focus on five core, long-life... 

Price weakness prompts Cameco to shutter world highest-grade mine, Key Lake mill

By: Henry Lazenby     9th November 2017 Cameco fingered sustained uranium price weakness as being behind its decision to shutter the McArthur River mining and Key Lake milling operations, in Northern Saskatchewan’s Athabasca Basin, Canada’s largest producer of the nuclear fuel announced on Wednesday. Saskatoon, Saskatchewan-based... 

Alderon confident in Kami project economics, sans Wabush pits

By: Henry Lazenby     7th November 2017 Maritime Canada-focused project developer Alderon Iron Ore has published details of an updated preliminary economic assessment (PEA) on the Rose deposit of its flagship Kamistiatusset project, located in the high-grade iron-ore rich Labrador Trough of Western Labrador. The latest PEA is an update... 

Centerra, Aurico Metals reveal C$310m friendly tie-up

By: Henry Lazenby     7th November 2017 Canadian gold miners Centerra Gold and AuRico Metals have struck an accord to combine their businesses through a friendly C$310-million deal that will see Centerra usurp all of the outstanding equities of AuRico. Centerra is offering C$1.80 a share, representing a 38% premium on AuRico's... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Harmony ups output, cuts costs, improves margins

By: Martin Creamer     7th November 2017 Gold-mining company Harmony produced 14% more gold in the three months to September 30, when it cut unit costs by 8% and improved the margins of profit at its South African operations. Excellent operational performance was responsible for the margin improvement and last month’s acquisition of the... 

Bagassi South feasibility study adds 40% more gold ounces to Roxgold's Yaramoko project

By: Henry Lazenby     7th November 2017 A new feasibility study on Roxgold's Bagassi South project, which is located on the TSX-quoted company's Yaramoko concession, in the Houndé greenstone region of Burkina Faso, has outlined the potential to lift the Yaramoko project's expected gold output by 150 000 oz/y. The 40% increase in output... 

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

China sets tone for future vanadium-flow battery development

By: Henry Lazenby     4th November 2017 The Chinese government has awarded a major contract to privately held clean technology innovator Pu Neng Energy for the construction of a 12 MWh vanadium-flow battery, as Phase 1 of a larger 40 MWh energy storage project, in Hubei province. This first phase will be installed in Zaoyang, Hubei, to... 

Asanko reports improved Q3 operational, financial performance

By: Natasha Odendaal     3rd November 2017 Encouraging third-quarter operational results have translated into an improved financial performance for dual-listed Asanko Gold. The Canadian junior miner on Friday reported a 21% quarter-on-quarter increase in cash flow from its operations to $40.7-million. 

PEA supports development of underground mine at Lucara’s Karowe

By: Natasha Odendaal     3rd November 2017 A preliminary economic assessment (PEA) has revealed the potential for the development of an underground mine at Karowe, in Botswana, TSX-listed Lucara Diamond said on Friday. The Vancouver-based diamond producer is considering the development and commissioning of an underground mine after the... 

British Columbia govt digs in against Canadian oil

By: Henry Lazenby     3rd November 2017 The British Columbia provincial government has reiterated its opposition against the flow of oil over its soil. While proponents for Kinder Morgan's Trans Mountain Expansion project have argued that the expansion of Canada's ability to reach new markets in Asia needs to be designated as a... 

Elandsfontein mine to assist in alleviating West Coast water challenges

By: Ilan Solomons     3rd November 2017 Emerging miner Kropz’s Elandsfontein phosphate mine, near Saldanha Bay, in the Western Cape plans to supply the drought stricken West Coast region with additional clean water, while offsetting its own water-use over the course of the next three years. The project is located on land adjacent to... 

Moody's lowers Eldorado's rating outlook to 'negative'

By: Henry Lazenby     2nd November 2017 Moody's Investors Service has revised the rating outlook for Vancouver-based gold producer and project developer Eldorado Gold to negative from stable. The international advisory service has also affirmed Eldorado's B1 Corporate Family Rating, B1-PD Probability of Default Rating, and B1 senior... 

Hudbay net earnings rise 22% as output rises in Manitoba, Peru

By: Henry Lazenby     2nd November 2017 Canadian base metals miner Hudbay Minerals has posted a 22% improvement in third-quarter profit as the company's Manitoba and Peru operations produced more metals at lower costs. The Toronto-headquartered company reported a net profit of $40.9-million, or $0.17 a share, for the three months ended... 

Endeavour starts commercial production at Houndé

By: Anine Kilian     31st October 2017 Endeavour Mining has completed the development of its Houndé project, in Burkina Faso, with commercial production declared more than two months ahead of schedule and $15-million below its initial capital budget. "We are extremely proud to declare commercial production ahead of schedule, below... 

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... 

Appea asks NT to lift fracking moratorium

By: Esmarie Swanepoel     30th October 2017 The Australian Petroleum Production and Exploration Association (Appea) has again called on the Northern Territory government to lift a moratorium on hydraulic fracturing (fracking), after an independent economic analysis found that shale gas development in the territory could deliver a number of... 

Cameco equities fall as miner swings to surprise Q3 loss; pares outlook

By: Henry Lazenby     27th October 2017 Canada’s largest uranium producer Cameco has reported a disappointing third-quarter loss for the three months ended September, prompting investors to punish the TSX-listed stock and pushing it 13% lower in early trading on Friday. The Saskatoon, Saskatchewan-based company, swung to a headline... 

Small-scale opencast mining to boost industry

By: Nica Schreuder     27th October 2017 For diamond mining company De Beers’ Venetia mine GM, Benford Mokoatle, opencast mining is the future, owing to changing priorities and mindsets within industry, which must occur to sustain the mining industry in South Africa. Specifically, Mokoatle says the country must begin focusing on... 

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