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Rail company unlocking coal export potential

     Updated 4 hours ago According to South African rail, port and pipeline company Transnet, increasing rail capacity in South Africa is critical for unlocking coal export opportunities, both for neighbouring African countries and for the domestic market. The rail utility discussed its approach to increasing rail... 

Pan African rolling out vibrant internal growth projects 

By: Martin Creamer     21st September 2017 Midtier gold mining company Pan African is rolling out vibrant internal growth projects involving the revival of Evander Mines’ 7 Shaft and the alleviation of congestion at Barberton Mines’ Fairview operation, which will provide the flexibility needed to better exploit what is arguably the... 

Mining's biggest mystery is what Agarwal plans to do with Anglo

By: Bloomberg     21st September 2017 As Anglo American’s board met at the lavish Vergelegen wine estate in South Africa yesterday evening as part of a 100-year celebration, executives were blindsided by news headlines: Indian mining tycoon Anil Agarwal was becoming the biggest shareholder. After Anglo’s managers partied to honor the... 

ICE delays takeover of London's silver benchmark to October 2

By: Reuters     21st September 2017 ICE Benchmark Administration, a unit of Intercontinental Exchange (ICE), will take over as operator of London's silver benchmark on October 2, a week later than planned, the exchange said on Thursday. Two current participants in the benchmark, Swiss bank UBS and China Construction Bank (CCB), are... 

Johnson Matthey to invest £200m in battery material technology

By: Reuters     21st September 2017 Johnson Matthey said it will invest an initial £200-million in expanding its battery material technology business from 2018, aiming to capitalise on growth in the electric vehicle market. The specialty chemicals company said the overall market "could be (worth) more than $30-billion (in) sales... 

Further investment in Anglo by majority shareholder of Vedanta

By: Martin Creamer     21st September 2017 Vedanta head Anil Agarwal has once again hit the headlines by announcing an intended further personal investment in Anglo American through Volcan Investments, which is the majority shareholder of Vedanta Resources. Volcan announced on Wednesday that it intended investing £1.25-billion to... 

Miner Hochschild on hunt for acquisitions – executive

By: Reuters     21st September 2017 London-based precious metals miner Hochschild Mining is looking for opportunities to grow through acquisitions of early-stage projects, the chief executive said on Wednesday. Speaking during a presentation at the mining convention Perumin, in southern Peru, Ignacio Bustamante added that the... 

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Third of Pan African gold from low-cost, low-risk surface tailings 

By: Martin Creamer     20th September 2017 More than a third of the yearly gold production of Pan African Resources is destined to arise from low-cost, low-risk tailings businesses, which have long lives ahead of them. Pan African CEO Cobus Loots told investors, analysts and journalists at the company’s presentation of financial results... 

Stellar Diamonds seeks to fund first post-Ebola mine in Sierra Leone

By: Reuters     20th September 2017 Stellar Diamonds, a London-listed small-cap, is seeking funding for a $45-million diamond project in Sierra Leone it says will be the first major mining project since the Ebola crisis rocked the country's economy. Diamonds and other forms of mining are central to an economy hard hit by the 2015... 

Pan African poised for growth, proposes R185m final dividend

By: Martin Creamer     20th September 2017 Precious metals mining company Pan African, which on Wednesday proposed a R185-million final dividend, reports that it is poised for growth as remedial action regarding its operational challenges in the 12 months to June 30 delivers expected results. The London- and Johannesburg-listed company,... 

Russian nuclear giant joins scramble to supply electric-car boom

By: Bloomberg     20th September 2017 Russia’s State-owned nuclear corporation is joining the lithium rush. After a collapse in the price of uranium, Rosatom Corp. plans to start mining and trading the metal used in batteries as it seeks to profit from the rapid rise of electric vehicles. 

BHP pressed to quit Australian mining lobby over climate views

By: Reuters     19th September 2017 BHP on Tuesday urged shareholders to vote down a resolution aimed at getting the mining giant to quit Australia's top mining lobby group, but said it will separately review its membership of industry bodies. BHP agreed to let shareholders vote on the resolution submitted by an ethical investing... 

Rally in zinc price raises spectre of substitution

By: Reuters     19th September 2017 A sharp rally in zinc prices is posing the threat that industrial users will find ways to substitute the metal with cheaper alternatives or use less, curbing overall consumption. High prices may also dampen a nascent move by Chinese automakers to use more zinc for galvanising, while the Western... 

Miner Goldplat seeks to tame Africa risk

By: Reuters     19th September 2017 Upheaval in Tanzania, where the government has made huge tax demands and seized minerals, has triggered changes in neighbouring Kenya, which should reassure the industry, said the CEO of Goldplat, which operates a gold mine there. Chief Executive Gerard Kisbey-Green said he was nevertheless... 

First Cobalt exits volatile DRC in favour of mining friendly Ontario Cobalt Camp

By: Henry Lazenby     19th September 2017 TSX-V-listed First Cobalt will not complete a strategic alliance over seven cobalt exploration properties close to several major copper/cobalt operations in the Democratic Republic of Congo's (DRC's) Central African Copperbelt. The Toronto-headquartered company announced on Monday that it would... 

London's black cabs going electric spurs aluminium restart

By: Bloomberg     18th September 2017 London’s black cabs going electric shows the new wave of automobile technology is already reshaping the metals industry. After being closed for three years due to a weak market, Sapa SA’s aluminium plant in south Wales will reopen this week to supply lightweight parts for automakers such as... 

Tanzania charges officials with economic sabotage over seized diamonds

By: Reuters     18th September 2017 Tanzanian prosecutors charged two government officials on Friday with economic sabotage after they were accused of undervaluing an export-bound consignment of diamonds seized from a mine majority owned by London-listed Petra Diamonds. Archard Kalugendo, director of the State-run diamond and... 

Tanzanian leader's war for taxes puts economy in firing line 

By: Bloomberg     18th September 2017 Tanzanian President John Magufuli’s deepening dispute with companies he accuses of being tax cheats is rattling investors and dimming the allure of one of Africa’s fastest-growing economies. Since taking office in late 2015, Magufuli has been on a drive to increase revenue from natural resources... 

Campaign for more diamond ads wins support from India's gem hub

By: Bloomberg     14th September 2017 The push for bigger diamond advertising campaigns and marketing to wealthy millennials has won support from a key part of the industry: India’s manufacturers and retailers. India’s Gem & Jewellery Export Promotion Council, which represents almost 6 000 diamond companies, has agreed to contribute... 

De Beers is said to hire leak hunter to probe gem data breach

By: Bloomberg     14th September 2017 The world’s biggest diamond producer hired an external investigator to find the source of possible leaks of its most sensitive price data, according to people familiar with the matter. De Beers hired investigators from KPMG International in South Africa to find the source of the leaks, according... 

Tethyan Resources gives listing, project updates

By: Anine Kilian     13th September 2017 Dual-listed Tethyan Resources’ decision to delist from the London’s Aim was based on the board’s consideration of challenging macroeconomic conditions and the additional costs that come with maintaining two listings. Speaking to Mining Weekly Online on Wednesday, COO Fabian Baker explained that... 

Lonmin says licence not at risk after Ministry warning

By: Reuters     13th September 2017 The South African mines ministry has told platinum miner Lonmin that it failed to meet some of its social and labour obligations, the producer said on Tuesday, but added it did not think its operating licence was in jeopardy. The London-listed miner received a letter last week from South Africa's... 

Glasenberg emerges from Rosneft flip with oil deal and medal

By: Bloomberg     12th September 2017 Nine months after surprising the world with an $11-billion venture to buy a stake in Russia’s state oil company, Glencore is selling most of it and emerging from the deal with a valuable crude supply contract and political ties in Moscow burnished. The companies announced on Friday that the... 

Petropavlovsk H1 profit surges on revenue growth

By: Mariaan Webb     12th September 2017 Gold miner Petropavlovsk on Tuesday reported a 166% increase in profit for the half-year ended June 30, as revenue jumped 20% on higher production from its hard-rock mines and an increase in the average realised gold price. London-listed Petropavlovsk, which operates the Pioneer, Pokrovskiy,... 

Lonmin woes make its stock the top sell call in Johannesburg

By: Bloomberg     12th September 2017 Lonmin is struggling to find admirers among analysts, who have doubled the number of sell recommendations on its Johannesburg stock in the past two years. The world’s third-largest platinum producer has 16 sell calls, more than any other member of South Africa’s FTSE/JSE Africa All Share Index,... 

Zambia copper output to ease slightly this year

By: Reuters     11th September 2017 Zambia's copper production is expected to inch lower to 753 992 t this year from 774 290 t in 2016 mainly due to lower output from Konkola Copper Mines, a subsidiary of London-listed Vedanta Resource, the mines ministry said on Monday. Production at Konkola Copper Mines is expected to decline by... 

Petra halts Williamson operations after key personnel questioned over seized diamond consignment

By: Natasha Odendaal     11th September 2017 London-listed Petra Diamonds on Monday said it had temporarily idled the operations of its 75%-owned Williamson mine, in Tanzania, for “health and safety and security reasons”, as key personnel cooperate with authorities over a blocked diamond shipment. The company on Monday confirmed that a... 

KAZ appoints CFO to take over from Southam

By: Creamer Media Reporter      11th September 2017 Copper miner KAZ Minerals has appointed Intertek FD John Hadfield as its new CFO, effective January 1. Before joining the UK arm of Intertek, Hadfield spent over 14 years at BG Group and Royal Dutch Shell. 

Stellar to raise £330 000 to pay for Tonga, Tonguma enviro licences

By: Natasha Odendaal     11th September 2017 London-listed Stellar Diamonds has conditionally raised, through Peterhouse Corporate Finance, £330 000 through the issue of 10.15-million new ordinary shares at an issue price of 3.25p a share. The placing is expected to be completed by September 14, conditional on the receipt of the funds in... 

Diamonds fund Zimbabwe political oppression, Global Witness says

By: Bloomberg     11th September 2017 Zimbabwe’s government is using money earned from diamond exports to fund its Central Intelligence Organisation, blamed for a raft of human-rights abuses as it’s helped to keep President Robert Mugabe in power since 1980, Global Witness said. Diamonds dug from the Marange fields in eastern... 

Tanzania says to nationalise diamond consignment seized from Petra Diamonds

By: Reuters     11th September 2017 Tanzania said on Saturday it planned to nationalise diamonds whose value it put at $29.5-million belonging to a mine majority owned by London-listed Petra Diamonds after it accused the miner of under-declaring its mineral exports. The diamonds were seized at the main airport in Tanzania's... 

China sends one of the West's most critical materials soaring

By: Bloomberg     11th September 2017 The price of one of the most critical materials for the Western world’s economy and defenses is spiking faster than any major commodity. Tungsten, used to harden steel in ballistic missiles and in drill bits, has surged more than 50% in the last two months amid growing concern about supply... 

Improving prices prompt Fortune to aim for bigger, more economic Nico development

By: Henry Lazenby     9th September 2017 With a bird in hand, Canadian project developer Fortune Minerals is considering to up the ante for its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories. The London, Ontario-based company late last month announced that its update of the 2014 feasibility study for... 

Eurasia signs collaboration agreement with Singapore’s GoldMint

By: Creamer Media Reporter      8th September 2017 Russia-focused precious metals producer Eurasia has entered into a memorandum of understanding with Singapore-based GoldMint to collaborate on potential projects. In terms of the agreement, announced on Friday, Eurasia has the option of collaborating with GoldMint on financing all or part of... 

China's CEFC buys into Rosneft as Glencore, Qatar cut stakes

By: Reuters     8th September 2017 Chinese conglomerate CEFC will buy a 14.16% stake in Russian oil producer Rosneft from a consortium of Glencore and the Qatar Investment Authority in a move that further strengthens the energy partnership between Moscow and Beijing. CEFC China Energy has grown in recent years from a niche oil... 

Gold at highest in a year as rate hike expectations recede

By: Reuters     8th September 2017 Gold prices rose to their highest in more than a year on Friday as weak economic data reduced expectations of another interest rate increase in the United States this year, U.S. bond yields fell and the dollar plunged to its weakest since early 2015. Demand for U.S. government debt and other... 

Tanzanian ministers implicated in diamond-mining probe quit

By: Bloomberg     8th September 2017 Two Tanzanian ministers resigned after President John Magufuli told government officials suspected of wrongdoing in an investigation into the nation’s diamond- and Tanzanite-mining industries to step down. Edwin Ngonyani, a deputy minister of works, transport and communication, said he resigned... 

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