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Lower South Deep output dents Gold Fields’ FY18 profit 

By: Tasneem Bulbulia     15th February 2019 Dual-listed Gold Fields achieved normalised profit from continuing operations of $27-million for the year ended December 31, 2018, compared with the $154-million posted for 2017.   The company’s profit was dented by a decline in output, led by its South Deep mine in South Africa. 

Petropavlovsk says IRC facility refinanced

By: Simone Liedtke     15th February 2019 Russian miner Petropavlovsk announced on Friday that it had reached an important step in concluding the refinancing of a $240-million facility that Hong Kong-based IRC, in which it is a large shareholder, has with the Industrial and Commercial Bank of China (ICBC). Petropavlovsk is the guarantor... 

Brucejack to ramp up to 3 800 t/d this year

By: Simone Liedtke     15th February 2019 In its first full year of production, dual-listed Pretium Resources has generated almost $200-million in cash from operations, while producing 376 012 oz of gold, president and CEO Joseph Ovsenek reported on Thursday. The intermediate gold producer’s all-in sustaining costs (AISC) for the second... 

Weaker prices hit Silvercorp Q3 performance

By: Nadine James     15th February 2019 TSX-listed Silvercorp Metals, which owns and operates mines in China, on Thursday reported a net income of $8.7-million for the third quarter ended December 31 – representing a 31% year-on-year decline with the company achieving a net income of  $12.7-million in the third quarter of 2018. The... 

Government key role-player fostering competitive minerals industry

By: Jessica Oosthuizen     15th February 2019 Government plays a key role in creating a favourable environment for a competitive Canadian mineral industry that will continue to provide significant socioeconomic benefits, says industry organisation Prospectors & Developers Association of Canada (PDAC) president Glenn Mullan. He tells Mining... 

Economic climate poses threat to effective project management

By: Thabi Madiba     15th February 2019 Although there is much room for growth and the implementation of effective project management tools in mines across Africa, the current global economic climate has led companies to refrain from investing in project management software, says mining software solutions provider CCS Mining &... 

Local manufacturers to benefit from Mining Charter 3's implementation 

By: Nadine James     14th February 2019 Mining Charter 3 and its Implementation Guidelines have created an environment where it is possible for local manufacturers to leverage procurement capacity to drive transformation, Department of Mineral Resources representative Xolile Mbonambi said at a breakfast held at the Industrial... 

South32 finalising preferred list of coal mine bidders 

By: Martin Creamer     14th February 2019 The complete preferred list of bidders for South32’s energy coal interests is still being finalised, South32 CEO Graham Kerr told Mining Weekly Online on Thursday, when he also provided three reasons why the company’s Australian manganese operations are doing better than its South African... 

GoldStone expects definitive economic plan for Ghana mine to be completed in Q2

By: Marleny Arnoldi     14th February 2019 Aim-listed GoldStone Resources expects the definitive economic plan (DEP) for its Akrokeri-Homase gold project, in Ghana, to be completed during the second quarter. The DEP assesses the capital requirements, operating costs and timelines in respect of developing an operational mine on the... 

Jemena wins licence for 40 TJ/d gas plant

By: Esmarie Iannucci     13th February 2019 The Queensland government has issued infrastructure provider Jemena a licence to start construction of a domestic-only gas processing plant. The plant is part of Jemena’s A$140-million Atlas gas pipeline project, which will create 150 jobs and connect Project Atlas to the Wallumbilla Gas Hub in... 

Alaska mine boosts Northern Star financials

By: Esmarie Iannucci     13th February 2019 Gold miner Northern Star has reported increased revenue and profit for the half-year ended December on the back of the acquisition of the Pogo gold mine, in Alaska. Revenue for the six months under review was reported at A$633.5-million, up 43% on the previous corresponding period, while... 

Noncash items brings down Evolution H1 profit

By: Esmarie Iannucci     13th February 2019 Gold miner Evolution Mining is expecting a stronger financial result in the second half of the 2019 financial year, after reporting a 26% fall in after-tax net profit during the six months to December. Evolution on Wednesday reported a net profit of A$91.1-million, compared with the... 

Harmony’s Steenkamp rising to President Ramaphosa’s ten-point challenge  

By: Martin Creamer     12th February 2019 Harmony Gold CEO Peter Steenkamp is rising to President Cyril Ramaphosa’s ten point mining challenge by striving to pay meaningful social dividends across a broad front and answering the call to beneficiate, which is no mean feat when it comes to gold. The executive head of the million-ounce-plus... 

Mandalay raises C$60m to stabilise liquidity position

By: Simone Liedtke     12th February 2019 TSX-listed Mandalay Resources has announced plans to raise C$60-million to address its short-term liquidity requirements. The financing will be raised through a marketed public offering of up to about C$50-million of subscription receipts and an $8-million convertible bridge loan from a CE Mining... 

Rothsay expected to deliver more gold

By: Esmarie Iannucci     12th February 2019 An updated definitive feasibility study (DFS) on the Rothsay gold project, in Western Australia, has increased the project’s projected gold production from 250 000 oz to 289 000 oz. ASX-listed EganStreet Resources on Tuesday told shareholders that the forecast increase in production, which came... 

Harmony Gold net profit plunges, operational cash soars

By: Martin Creamer     12th February 2019 The net profit of Harmony Gold plunged in the six months to December 31, dropping from R897-million for the corresponding period of last year to R75-million. However, production soared by 34% and operations generated R1.1-billion in free cash flow on the inclusion of the acquired Moab Khotsong... 

Vale's rout lures locals while foreigners remain wary, UBS says

By: Bloomberg     11th February 2019 Local investors are starting to see value in Vale SA shares after a fatal accident last month wiped out nearly a quarter of its market value, while global investors remain skeptical, according to UBS Group. Approximately 80% of Brazilian investors are showing interest in buying Vale after the... 

World Class Supply Chain Means Savings For Weir Minerals Customers In Africa

11th February 2019 Mines served by Weir Minerals Africa have experienced considerable added value through the company’s upgrades to its supply chain system.  According to Weir Minerals Africa’s supply chain director Luhann Holtzhausen, the company ships almost 800,000 bespoke items each year from its main... 

Acacia maintains strong cost discipline in FY18  

By: Tasneem Bulbulia     11th February 2019 Gold miner Acacia Mining maintained strong cost discipline in the financial year ended December 31, achieving an all-in sustaining cost (AISC) of $905/oz, well below the guidance range of $935/oz to $985/oz, interim CEO Peter Geleta said in a statement on Monday. He added that the company had... 

Polyus reports jump in profit on rising gold sales

By: Reuters     11th February 2019 Russia's largest gold producer, Polyus, on Monday reported a 20% jump in fourth-quarter adjusted net profit to $291-million compared with last year, lifted by increased production and rising sales of the metal. Adjusted net profit for the full year rose to $1.33-billion, Polyus said, up from... 

Peru's environmental watchdog reports tailings spill from Southern Copper mine

By: Reuters     11th February 2019 Peru's environmental watchdog said on Sunday it was investigating a tailings spill from a unit of Southern Copper Corp, one of the world's largest copper producers, into a river in an area that has been inundated by heavy rains. The Agency of Evaluation and Environmental Enforcement (OEFA) said... 

Hidden Valley supports Harmony’s H1 production, but drags down HEPS

By: Marleny Arnoldi     8th February 2019 Leading up to the release of its interim results for the six months ended December 31, on February 12, Harmony Gold on Friday said its headline earnings per share (HEPS) would be up to 97% lower year-on-year. Harmony reported gold production for the period of 751 000 oz, which is a 34%... 

Era faces higher closure/rehab costs for Ranger

By: Esmarie Iannucci     8th February 2019 Uranium miner Energy Resources of Australia (Era) has completed a feasibility study for the closure of its Ranger project, in the Northern Territory. The closure and rehabilitation feasibility study has increased the rehabilitation provision from the A$526-million estimated at the end of 2017,... 

Namibia Critical Metals signs deal for Kunene small-scale mining initiative

By: Natasha Odendaal     7th February 2019 TSX-V-listed Namibia Critical Metals has signed a deal with a private, undisclosed Namibia-based group for the development of a small-scale manganese mine at its wholly-owned subsidiary Kunene Resources Namibia’s operations. The agreement allows the local Namibian group to produce manganese... 

Bluebird eyes start to South Korean mines

By: Esmarie Iannucci     7th February 2019 LSE-listed Bluebird Merchant Ventures was still targeting its first gold pour in South Korea before the end of 2019, joint venture (JV) partner Southern Gold reported. The JV is hoping to bring the Gubong and Kochang mines back to operation, with Bluebird expecting cash flow from the operations... 

Sanedi ready to support the mining industry in energy efficiency

By: Kim Cloete     6th February 2019 The mining sector has been encouraged to use more renewable energy and tighten up on energy efficiency, with the support of the South African National Energy Development Institute (Sanedi). Energy Minister Jeff Radebe said the mining industry would need innovative and novel solutions to reduce... 

Alacer output supported by new sulphide plant

By: Marleny Arnoldi     5th February 2019 TSX- and ASX-listed Alacer reported a ‘strong finish’ to 2018, with full-year gold production of 171 000 oz of gold, meeting the production guidance of 160 000 oz to 230 000 oz. Production was achieved at an all-in sustaining (AISC) cost of $609/oz, which beat the yearly guidance.  

Weba Chute Mechanism Saves Costs, Downtime At Diamond Mine

4th February 2019 Challenging materials handling applications are the norm for Weba Chute Systems, and the company’s recent solution at a diamond mine in Botswana tackled the issue of large particle sizes to ensure more uptime for the customer’s operation. The mine had been faced with replacing transfer chutes... 

Firestone on track to meet FY guidance despite subdued environment

By: Simone Liedtke     4th February 2019 Aim-listed Firestone Diamonds on Monday reported that it had treated 1.9-million tonnes of ore in the six months to December 31, in line with the company’s full-year guidance of between 3.6-million tonnes and 3.9-million tonnes treated. In a quarterly operations update for its Liqhobong diamond... 

Pumps manufacturer secures DRC slurry pumps contract

1st February 2019 Local pump manufacturer KSB Pumps and Valves has won a multimillion-rand tender to supply locally manufactured specialised slurry pumps to minerals and metals processing specialist Outotec, for the large-scale greenfield Mutoshi copper and cobalt mining project in the Democratic Republic of... 

New tech protects pumps against dry running

1st February 2019 A new type of detection technology from global technology powerhouse Siemens protects centrifugal pumps from dry running in hazardous areas. For this purpose, the corporation has developed special current/voltage detection modules for its Simocode pro motor management system. The principles and... 

Company revives mobile dewatering pump systems

1st February 2019 When called upon to refurbish two diesel powered mobile dewatering trailers, pump supplier Mechanical Rotating Solution (MRS) made sure that it put its own personal seal of quality on the product by not only refurbishing the units but also improving on the original design aspects. 

Record output drives revenue at Russia's Polymetal up 11% in Q4

By: Reuters     31st January 2019 Russian gold and silver producer Polymetal reported on Thursday an 11% rise in fourth quarter revenue, compared to a year earlier, on record high production following a full ramp-up at its mine in Kazakhstan. The London-listed firm, part-owned by businessman Alexander Nesis, launched the Kyzyl... 

Resolute adds more ounces to hedgebook

By: Esmarie Iannucci     31st January 2019 Gold miner Resolute Mining has forward sold a further 30 000 oz of gold at an average price of $1 335/oz, taking advantage of the recent strength in gold prices to extend its US-dollar denominated hedge position. The ASX-listed miner noted that the gold will be delivered on a monthly schedule... 

Strong vanadium market underpins healthy cash flow for Bushveld

By: Simone Liedtke     30th January 2019 A strong vanadium market has ensured that Aim-listed Bushveld Minerals’ Vametco operation, which forms part of Bushveld’s vanadium platform, generated healthy cash flow, despite its operational performance falling below expectations during the fourth quarter ended December 31. Even though the... 

Kola gets $2.1bn price tag

By: Esmarie Iannucci     29th January 2019 The Kola potash project, in the Republic of the Congo (also known as Congo-Brazzaville), is expected to cost $2.1-billion to develop, triple-listed Kore Potash said on Tuesday. The ASX-, JSE- and Aim-listed company revealed that Kola would have a nameplate capacity of 2.2-million tonnes a year of... 

Mining Charter boosts junior mining

By: Paige Müller     25th January 2019 After 20 years of poor policy and oppressive regulations having all but irradiated South Africa’s junior mining sector, the local junior mining industry is beginning to turn around as a result of the Mining Charter, says minerals explorer Orion Minerals CEO Errol Smart. Serving as Junior Miner... 

Company to exhibit at Mining Indaba for third year

By: Jessica Oosthuizen     25th January 2019 Underwriting managing agent Cenviro Solutions, which is underwritten by its parent company Centriq Insurance Company, will for the third consecutive year exhibit at the Investing in African Mining Indaba, to be held at the International Cape Town International Convention Centre from February 4 to... 

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