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NUM postpones planned coal sector strike

By: Creamer Media Reporter      17th November 2017 The National Union of Mineworkers (NUM) will postpone its planned strike in the coal sector, as some coal companies have decided to table new offers to NUM members. The union on Friday said the coal companies would present the new wage offers on Monday, after which the union would decide to... 

Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Corsa sees sales volume growth for sixth consecutive quarter

By: Anine Kilian     17th November 2017 Even though the global supply chain for metallurgical coal remains challenged and prone to disruption, strong steel pricing and production levels have helped to sustain a high level of demand for raw materials, which include metallurgical coal, according to Corsa Coal CEO George Dethlefsen. In a... 

Botswana Diamonds positive about potential at South African project

By: Anine Kilian     17th November 2017 A detailed ground geophysical survey undertaken on eight Group 1 kimberlites at Aim-listed Botswana Diamonds’ Free State exploration project, which is located between Bloemfontein and Kimberley, in South Africa, has indicated that the sizes of these kimberlites range from 0.3 ha to 1.15 ha. The... 

Eskom tariff hike a threat to mining jobs – CoM

By: Natasha Odendaal     17th November 2017 The Chamber of Mines (CoM) on Friday opposed State-owned power utility Eskom’s proposed 19.9% tariff increase application, stating that the increase would send South Africa into a vicious downward spiral of higher electricity prices, lower growth and lower electricity consumption. Presenting at... 

Galantas highlights need to secure sufficient funding

By: Megan van Wyngaardt     17th November 2017 Following disappointing results for the third quarter ended September 30, dual-listed miner Galantas Gold Corporation on Friday said its future viability depended on the consolidated results of its wholly-owned subsidiary Cavanacaw Corporation, which holds 100% in Galantas’ Omagh Minerals and... 

Ferrexpo secures $195m loan

By: Megan van Wyngaardt     17th November 2017 Swiss headquartered iron-ore company Ferrexpo has signed a new secured three-year revolving credit facility of $195-million, arranged by BNP Paribas. The facility includes a syndicate of six international lenders and will amortise over eight quarters, with the final repayment due on December 31,... 

Arafak Q3 impacted by seasonal factors

By: Natasha Odendaal     17th November 2017 After delivering positive and robust first and second quarters, Nasdaq- and LSE-listed Afarak Group’s third quarter was hit by seasonal fluctuations. The group on Friday posted strong revenue growth on the back of higher ferrochrome prices and strong market fundamentals; however, profitability... 

Lemur appoints owner’s engineer, technical advisers for Imaloto BFS

By: Mia Breytenbach     17th November 2017 Aim-listed Bushveld Minerals’ Lemur Resources subsidiary, which is developing an integrated thermal coal mining and independent power producer asset in Madagascar, has appointed an owner’s engineer and technical advisers for  the bankable feasibility study (BFS) for the Imaloto power project.... 

Wescoal expecting earnings drop for H1

By: Megan van Wyngaardt     17th November 2017 JSE-listed Wescoal expects to report a 29% year-on-year drop in headline earnings a share to around 20.5c apiece, when it reports its results for the six months ended September 30. Alongside this, the miner’s earnings a share were expected to fall by between 16.7% and 20.3% year-on-year to 23c... 

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... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA

By: Dylan Slater     17th November 2017 Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on... 

Need for collaboration in CSR initiatives emphasised

By: Mia Breytenbach     17th November 2017 With the mining industry now recovering from the downturn in commodity prices, and a new balance emerging in the global demand and supply of minerals, now is the time to reflect, innovate and plan for a more resilient industry in the future, says Mineral Resources Deputy Minister Godfrey... 

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... 

Pallinghurst director takes up position as Jupiter Mines CEO

By: Anine Kilian     16th November 2017 Priyank Thapliyal has been appointed CEO of Jupiter Mines, in which Pallinghurst Resources holds an 18.4% interest. Thapliyal has, therefore, resigned as executive director of Pallinghurst, with his responsibilities to be absorbed by the other executive directors on the board. 

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... 

Kibo upgrades MCPP MoU

By: Anine Kilian     16th November 2017 Aim-listed minerals and exploration development company Kibo Energy has upgraded its existing Memorandum of Understanding (MoU) with the Tanzania Ministry of Energy and the Tanzania Electric Supply Company (Tanesco), regarding a power purchase agreement (PPA) for the development and... 

Atalaya encouraged by positive copper expansion study

By: Mariaan Webb     16th November 2017 The expansion of the Proyecto Riotinto copper mine in Andalucía, Spain, is “technically and financially robust”, a study into the feasibility of increasing capacity beyond 9.5-million tonnes a year has found. Dual-listed Atalaya Mining reported on Thursday that it had completed the study, which... 

Orion initiates hitech regional exploration in Northern Cape

By: Martin Creamer     16th November 2017 Sydney- and Johannesburg-listed company Orion Minerals will from November 26 initiate an airborne survey across a large area of South Africa’s Northern Cape as part of a regional exploration programme that will make use of the latest available technology in an area last explored in the 1980s.... 

Forecast iron-ore price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     15th November 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” said the firm on Wednesday, adding that,... 

GoviEx Uranium granted exploration permit for Agaliouk tenement

By: Creamer Media Reporter      15th November 2017 TSX-V-listed GoviEx Uranium has been granted an exploration permit for its Agaliouk tenement, adjacent the Madaouela project, in Niger. Agaliouk adds 11.67-million pounds triuranium octoxide (U3O8) in the measured and indicated categories and 9.35-million pounds U3O8 in the inferred category to... 

German minerals firm K&S lifts Q3 earnings, adjusts Canada mine ramp-up

By: Mariaan Webb     15th November 2017 German potash and salt producer K+S on Wednesday reaffirmed its earnings forecast for the full year, as it posted higher third-quarter revenue and earnings. The Kassel-headquartered company, which has production sites in Europe, North America and South America, increased its revenue by 6%... 

Lily mine remains in limbo, parties need to get together – Solidarity

By: Natasha Odendaal     15th November 2017 As the future of the distressed Lily mine hangs in the balance, trade union Solidarity has called on all parties to expedite the processes under way and make a decision on the mine’s future. With every potential transaction thus far having failing to rescue the idled operation over the past 18... 

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,... 

Companies from Amplats to StanChart on alert amid Zimbabwe coup

By: Bloomberg     15th November 2017 Companies are being vigilant over their operations in Zimbabwe after military vehicles descended on the capital of Harare and the army seized power, threatening President Robert Mugabe’s 37-year rule. Nedbank Group sent some South African employees home from Zimbabwe, the Johannesburg-based... 

Savannah secures enviro permits for Oman copper projects

By: Creamer Media Reporter      15th November 2017 Aim-quoted Savannah Resources has been granted environmental operating permits for the first two of a series of planned copper mine developments in Oman, marking a “major breakthrough” for its development plans, CEO David Archer announced on Wednesday. The Ministry of Environment and Climate... 

Better regulations needed to prevent tailings dam failures – UNEP

By: Megan van Wyngaardt     15th November 2017 In the last decade, there have been over 40 mining waste failures, killing some 341 people and damaging hundreds of kilometers of waterways, affecting drinking water sources and the livelihood of communities, a new report entitled ‘Mine Tailings Storage: Safety Is No Accident’, reveals. The... 

Court allows parties to join CoM’s application for Mining Charter review

By: Megan van Wyngaardt     14th November 2017 The High Court has granted a request by the Centre for Applied Legal Studies (CALS) and Lawyers for Human Rights (LHR), which represent certain mining community organisations, to join the Chamber of Mines’ (CoM’s) application for a review of the third iteration of the Mining Charter. The CoM had... 

Mining Charter could hinder South Africa’s economic growth – Solidarity

By: Anine Kilian     14th November 2017 Trade union Solidarity says that 25 177 jobs have been affected by retrenchments in the mining industry in 2017 and points to the much-talked-about contentious Mining Charter Three as a major contributing factor. “The Mining Charter puts a damper on the industry and is conducive to mining... 

Alphamin eyes AltX listing, proposes final $50m raising for Bisie construction

By: Natasha Odendaal     14th November 2017 TSX-V-listed Alphamin Resources is working to jump the final funding hurdle for its Bisie tin project, in the North Kivu province of the Democratic Republic of Congo, through a secondary inward listing on the AltX of the JSE. The exploration and development company has already raised or secured... 

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

Afritin targets Africa tin champion title, Namibia project upscaled to commercial production 

By: Mia Breytenbach     14th November 2017 Following the demerger of Afritin Mining from Aim-listed Bushveld Minerals – and its subsequent listing as the only pure - play tin platform on the Aim last week – the company, which has assets in Namibia and South Africa, will focus on becoming “The Africa tin champion” by bringing its flagship... 

Polyus shares to be included in MSCI Russia index

     14th November 2017 Gold miner Polyus announced on Tuesday that Morgan Stanley Capital International (MSCI) would include the company’s shares into its Russia and emerging markets indices at the end of the month. Polyus CEO Pavel Grachev said that the inclusion in the MSCI Index has been a long standing objective... 

Exploration boosts Ariana’s confidence in Salinbas project

By: Creamer Media Reporter      14th November 2017 Turkey-focused explorer Ariana Resources is encouraged by the results of its latest exploration across the so-called hot gold corridor in Turkey, where its one-million-ounce Salinbas project is located. The Salinbas gold project comprises the Salinbas gold/silver deposit and the Ardala... 

Winmar withdraws from Spain JV, reduces salaries by 50%

By: Mariaan Webb     14th November 2017 Australia’s Winmar Resources has slashed its staff salaries and directors fees by half to minimise cash outflows until it has secured a new lead project. The announcement on Tuesday comes a day after the company said that it had withdrawn from the Lomero joint venture project with Kimberly... 

Environmental activists to appeal enviro authorisation for proposed new nuclear power station

By: Megan van Wyngaardt     14th November 2017 Earthlife Africa Johannesburg, Greenpeace Africa and the Southern African Faith Communities’ Environment Institute (Safcei) have officially filed a notice informing the Department of Environmental Affairs (DEA) that they intend to jointly appeal the environmental authorisation for the... 

Xtract Resources raises £1.7m to pay debt, fund Manica opportunities

By: Megan van Wyngaardt     14th November 2017 Aim-listed Xtract Resources has conditionally raised £1.7-milion, before expenses, through the placement of 59.64-million new ordinary shares at 2.85p a share. The net proceeds from the placing will be used to pay off outstanding debt of £530 000 and to take advantage of commercial opportunities... 

Sibanye declares US resource under Proudly South African code

By: Martin Creamer     14th November 2017 Precious-metals mining company Sibanye-Stillwater has completed a Competent Person’s Report on its platinum group metals (PGM) mineral assets, in Montana, in the United States. The report has been compiled under the South African Code for the Reporting of Exploration Results, Mineral Resources... 

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