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Difficulties continue for Afarak in Q3

By: Simone Liedtke     16th November 2018 Industry seasonal effects, coupled with some internal adversities, primarily in the ferro-alloys segment, continue to make this a difficult year for specialty alloys producer Afarak. During the company’s third-quarter period, ended September 30, the benchmark price for ferrochrome fell further,... 

Alamos meets quarterly guidance

By: Mariaan Webb     2nd November 2018 Canada-based Alamos Gold produced 124 000 oz of gold in the third quarter, which is in line with its guidance and 16% above the third quarter of 2017, reflecting the inclusion of the Island Gold mine, which it bought earlier this year. Year-to-date production hit a record of 379 400 oz – 23%... 

Capital-starved mining sector creates 'buyer's market' for investors

By: Reuters     1st November 2018 Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week. Smaller mines and developers who previously found capital through retail investors in... 

Randgold, Barrick increase dividends ahead of proposed merger

By: Simone Liedtke     31st October 2018 In connection with the proposed recommended share-for-share merger of Barrick Gold and Randgold Resources, the companies have agreed on increases in the Randgold and the Barrick dividend, as well as an updated dividend policy for the new enlarged Barrick Group. Randgold shareholders will be... 

Electra Mining Africa 2018 was a vital platform for the future of mining

31st October 2018 By Norman Maleka, National Sales and Marketing Manager Our focus was to showcase the new products we are developing for the future. SEW is present in all major industries, from mining to food-and-beverage and automotive, to name a few. Hence it is always a challenge for us when it comes to... 

Growth stock tag possible from Far West surface project –­ DRDGold 

By: Martin Creamer     31st October 2018 When it comes to the gold sector, recovering the precious metal from dumps on surface beats pursuing it in deep, dark and dangerous underground mines. The local gold industry has put many feelers out to access gold on surface and one of the most exciting projects under way is Far West Gold... 

Kirkland Lake positioned for a ‘strong finish’ to 2018

By: Creamer Media Reporter      31st October 2018 Mid-tier gold producer Kirkland Lake is positioned for a strong finish to the year, president and CEO Tony Makuch said on Tuesday, announcing another revision to the company’s production guidance for 2018. The miner, which operates in Canada and Australia, increased its full-year guidance to... 

BHP’s Chief Commercial Officer says relationships are crucial in the supply chain

30th October 2018 While average realised prices have been strong for the most recent fiscal year, BHP’s Chief Commercial Officer, Arnoud Balhuizen has warned to not get too caught up with the numbers alone. “Prices have generally benefited disciplined owner-operators with high quality assets, particularly those... 

Horizonte focus shifts to funding as it ticks feasibility study box

By: Mariaan Webb     29th October 2018 Nickel company Horizonte Minerals has confirmed the economics of its Araguaia ferronickel project, in Brazil, with the completion of a feasibility study, setting up the company to advance offtake agreements and secure funding for the $443-million development. The Aim- and TSX-listed company aims... 

Great Bear raises C$3.5m for Dixie exploration

By: Creamer Media Reporter      29th October 2018 TSX-V-listed Great Bear Resources has announced a C$3.5-million private placement of shares at C$3.5 each, for further exploration at its Dixi project, in Ontario. The company entered into an agreement with Cormark Securities, pursuant to which Cormark has agreed to purchase one-million common... 

Leagold says Santa Luz restart requires $82m

By: Creamer Media Reporter      26th October 2018 Vancouver-based Leagold has completed an updated feasibility study for the Santa Luz project that it acquired in the recent Brio takeover, which demonstrates the potential for restarting 100 000 oz/y mine at a cost of $82-million. However, the company’s first priority remains to optimise its... 

Havilah secures contingency cash

By: Esmarie Iannucci     26th October 2018 Junior metals developer Havilah Resources has secured a A$6-milion standby facility from Invetec, which the company would use as a contingency measure to manage cash flow over the next 12 months as work is completed on permitting for its North Portia gold project. Havilah is due to receive... 

Sandvik expands drill rig offering

26th October 2018 Mining equipment and services provider Sandvik Mining and Rock Technology has expanded its high-pressure down-the-hole (DTH) drill rig offering with the new Sandvik Leopard DI650i model. The company unveiled its first intelligent DTH surface drill rig for the first time at Electra Mining Africa... 

I-CAT misting system for dust suppression, fire prevention in coal mining

25th October 2018 About 75% of coal mines in South Africa have to contend with the risk of the spontaneous combustion of coal dust when material is tipped from load haul dump trucks (LHDs). The I-CAT Dust Division has devised a bespoke solution for a major coal-mining client that it intends to introduce as its... 

Newmont adjusted income falls on lower prices, production

By: Mariaan Webb     25th October 2018 Colorado-based Newmont Gold on Thursday reported weaker adjusted net income of $175-million, as its revenue decreased along with gold prices and lower production at various sites. The third-quarter income adjusted for impairments and a write-down in North America, came to $0.33 a diluted share,... 

OceanaGold adjusts FY guidance

By: Creamer Media Reporter      25th October 2018 On the back of strong operational performance in the first nine months of the year, OceanaGold has increased its 2018 gold production guidance for the second time, to a range of 515 000 oz to 545 000 oz. The Melbourne headquartered company previously forecast production to be in the 500 000 oz... 

South32 foresees short-term volatility, but long-term growth, sustainability 

By: Schalk Burger     25th October 2018 Diversified mining and metals company South32 on Thursday forecast short-term price volatility for the commodities it produces, but also highlighted its strong cash position and its work to further optimise its global portfolio of assets. In a speech delivered at the company’s 2018 annual general... 

Vale reports Q3 miss on forex, base metals

By: Reuters     25th October 2018 Brazil's Vale on Wednesday posted weaker-than-expected net income, as a weaker currency coupled with lower base metals production and prices weighed on the world's largest iron ore producer. The miner, also the world's largest nickel producer, reported $1.408-billion in third-quarter net income,... 

Growth-fuelled Sept quarter keeps Northern Star on track

By: Esmarie Iannucci     25th October 2018 Gold miner Northern Star Resources has started its 2019 financial year strong, reporting production of 207 600 oz of gold in the three months to September. The production performance was a 13% increase on the 183 949 oz produced in the previous quarter, with the miner telling shareholders on... 

Zijin’s bid for Nevsun jumps two regulatory hurdles

By: Creamer Media Reporter      24th October 2018 The $1.41-billion friendly takeover of Nevsun by Zijin Ming has cleared two regulatory hurdles – one in China and the other in Canada. The Canadian firm, which has assets in Serbia and Eritrea, reported on Wednesday that the takeover had received approval from China’s National Development and... 

AfriTin pilot production plant to achieve first material by end-2018

By: Simone Liedtke     24th October 2018 Aim-listed AfriTin Mining looks forward to achieving its target of processing the first material through the pilot plant at its Uis mine, in Namibia, by the end of this year, after having achieved a number of important milestones in the six-month period ended August 31. Construction of the pilot... 

Mount Gibson lifts iron-ore sales in Sept quarter

By: Esmarie Iannucci     24th October 2018 Junior iron-ore miner Mount Gibson has reported an increase in iron-ore sales for the quarter ended September, with sales revenue increasing by some A$20-million over the previous quarter. Quarterly sales for the three months to September reached 1.1-million tonnes, compared with the 963 000 t... 

Weba Chutes Move Manganese For Tshipi Borwa Mine

23rd October 2018 Weba Chute Systems are successfully transferring crushed ore at Tshipi Borwa Mine and based on the successes achieved by these custom engineered transfer points the company has received an order to design another forty chute systems. Tshipi Borwa Mine, located in the Kalahari Manganese Field in... 

How strong steel might kill off the next big battery metal story

By: Bloomberg     23rd October 2018 Vanadium’s astonishing rally is threatening its chances of being the next big battery metal. Prices have surged more than 800% in about two years, driven by Chinese demand for stronger steel. There’s also been speculation that vanadium will become a key metal for the battery industry. But with... 

Flow of LME nickel to hidden storage dents bull story

By: Reuters     19th October 2018 The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, analysts said, denting a bullish scenario of potential shortages. LME nickel stocks have shrunk by about 40% this year, largely from warehouses in Malaysia, Taiwan... 

Ramelius outlines merits of its offer for Explaurum

By: Esmarie Iannucci     19th October 2018 Gold miner Ramelius Resources has extended the deadline for its takeover offer of Western Australian explorer Explaurum until November 23, arguing that its takeover offer had merit. Ramelius in September launched an all-scrip bid for Explaurum, offering one of its own shares for every four... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability 

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Tekeledougou’s assay results show extended gold

19th October 2018 West African focused gold exploration company Cora Gold last month announced the final batch of assay results from the Tekeledougou project in southern Mali which confirm that the strike length of gold mineralised structures extends to at least 1.1 km at Kouroudian prospect and 350 m at Woyoni... 

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Zambia's finance minister says new mining taxes will not hit operations

By: Reuters     18th October 2018 Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes in Africa's No.2 copper producer, its finance minister said on Wednesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase... 

Santos revenue jumps on higher oil price, volume growth

By: Esmarie Iannucci     18th October 2018 Oil and gas major Santos has reported a 6% increase in production during the third quarter ended September, while sales revenue increased by 10%. “Santos’ third-quarter results serve to highlight the benefits of a cash generative core asset portfolio and our low-cost, disciplined operating... 

Endeavour moves forward Ity gold pour

By: Mariaan Webb     17th October 2018 The Ity carbon-in-leach (CIL) gold project that Endeavour Mining’s in-house team is building in Côte d'Ivoire is tracking two months ahead of schedule and will pour its first gold at the beginning of the March 2019 quarter, rather than mid-year, the Canadian firm reported on Wednesday. In a... 

Arc Minerals reports elevated copper intersections at Zambia project

By: Simone Liedtke     16th October 2018 Aim-listed Arc Minerals on Tuesday reported additional reverse circulation and diamond drill assay results from the company’s 11 000 m drilling programme at the Kalaba prospect, which is part of its Zamsort copper/cobalt project, in Zambia. The results found that mineralisation continues to be... 

Coeur buys Alio Gold's ‘noncore’ Nevada assets for $19m

By: Mariaan Webb     16th October 2018 NYSE-listed Coeur Mining is expanding its footprint in Nevada, announcing on Tuesday that it would buy a property package adjacent to its Rochester operation from Alio Gold, which deemed the Lincoln Hill, Wilco and Gold Ridge projects as noncore. In terms of a definitive agreement, Coeur Mining... 

Saracen strikes record quarter

By: Esmarie Iannucci     16th October 2018 Gold miner Saracen Mineral Holdings has reported record production in the three months to September, on the back of record group mill throughput and higher ore grades at all of its operations. Gold production in the quarter reached 88 940 oz, with the Carosue Dam operation delivering 51 753 oz... 

Rio Tinto copper output jumps; iron-ore, aluminium production slip

By: Esmarie Iannucci     16th October 2018 Diversified major Rio Tinto has reported lower production across nearly all its commodities, besides copper, in the three months to September. “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the group’s copper assets,” Rio CEO... 

B2Gold delivers record Q3 production despite production shortfalls in Nicaragua

By: Marleny Arnoldi     12th October 2018 Canadian miner B2Gold had record-consolidated gold production of 242 040 oz in the third quarter – a 78% increase on the 106 412 oz produced in the third quarter of 2017. Fekola mine, in Mali; Masbate mine, in the Philippines; and Otjikoto mine, in Namibia, were the strongest contributors to... 

Fire still burning at Peabody’s North Goonyella

By: Esmarie Iannucci     12th October 2018 US coal producer Peabody has issued force majeure notices to coal customers and certain of its vendors at the North Goonyella mine, in Queensland, as the company continues to work to extinguish a fire. The US miner at the start of last week started implementing a multi-tiered plan to extinguish... 

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