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Patagonia Gold shares plummet as it shuts mines

By: Creamer Media Reporter      Updated 35 minutes ago Argentinian precious metals miner Patagonia Gold has announced the closure of its Lomada de Leiva mine and the idling of the Cap Oeste operation, owing to lower-than-expected production volumes from both operations. The Aim-listed company said on Tuesday that the Lomada de Leiva, which was... 

BHP can't rescue iron-ore market after Brazil dam disaster

By: Bloomberg     Updated 5 hours ago BHP Group, the world’s biggest miner, doesn’t have capacity to raise shipments into the iron ore market as competitor Vale faces outages following the fatal mining disaster in Brazil last month. The global iron ore market has been thrown upside down by the tragedy, after Vale was forced to... 

Tri-Star reports technical issue at Oman facility

By: Mariaan Webb     18th February 2019 Shares in London-listed Tri-Star Resources fell on Monday, as the company reported that it had been informed of a technical issue at its 40%-owned Strategic and Precious Metals Processing (SPMP) facility, in Oman. The company said it liquid metal had been produced in the reduction furnace at... 

On-The-Air (15/02/2019) 

By: Martin Creamer     15th February 2019 African countries are streaking ahead of South Africa on the mining automation front; mining companies are opting for solar power because it is cheaper than Eskom power; and only black-owned companies will be allowed to buy the seven mining operations that are up for sale in Mpumalanga.... 

Tin use in batteries may rise to 60 000 t by 2030 – industry group

By: Reuters     15th February 2019 Tin could see a surge of new demand from lithium-ion batteries for electric vehicles and energy storage of up to 60 000 t a year by 2030, the International Tin Association (ITA) said on Thursday. Investors have been excited about the prospects for increased consumption of other metals, such as... 

Vast Resources set to mine Zimbabwe diamond territory – Minister

By: Reuters     14th February 2019 London-listed miner Vast Resources is to be allowed into Zimbabwe's diamond fields, Mining Minister Winston Chitando said on Thursday, joining other new entrants including Russia's Alrosa. Zimbabwe is stepping up efforts to exploit its mineral resources to revive a moribund economy sapped by high... 

How the UK is using over 150 years of mining heritage to secure sustainable economic development in Africa for the next 150 years and beyond.

14th February 2019 On the 6th February 2019, Cape Town, South Africa, visitors to the biggest mining conference in Africa, Mining Indaba, were invited to an industry dialogue between key figures in mining, agriculture, finance and government, at a panel discussion hosted by the UK’s Department for International... 

Famed Cullinan mine banks on big diamonds to drive down debt

By: Reuters     14th February 2019 The owner of one of the world's most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand. Petra Diamonds bought Cullinan in 2008, aiming to breathe new life... 

Palladium supply shortfall will worsen this year – Johnson Matthey

By: Reuters     13th February 2019 A deficit in the palladium market that has driven prices of the autocatalyst metal to record highs will widen dramatically this year, specialist materials company Johnson Matthey said in a report on Wednesday. The company, a leading autocatalyst manufacturer, said the shortfall in the roughly... 

Hochschild to suspend ops at Peru mine

By: Creamer Media Reporter      13th February 2019 London-listed Hochschild Mining said on Wednesday that it would suspend operations at its first mining operation, Arcata, and place the mine in care-and-maintenance in the second quarter. The company said that the low silver price had left it with no option, but to suspend operation. 

Cobalt's price crash bottoming out, stocks to hinder quick rally

By: Reuters     12th February 2019 Cobalt's near year-long price slide is finally coming to an end, but high inventories of the battery metal will stop prices quickly re-claiming 2018's 10-year highs. London Metal Exchange prices have crashed to two-year lows of $32 000/t compared with levels near $100 000 in the first half of 2018. 

Vale disaster could see Brazil’s iron-ore competitive edge slip away

By: Mariaan Webb     12th February 2019 The January 25 Brumadinho dam disaster is expected to knock Brazil’s competitiveness in the global iron-ore market and will elicit a supply response from mines in China, as well as new projects that could be brought on line in the next few years. This is according to analysts at London-based... 

Polymetal approves $431m POX-2 project

By: Mariaan Webb     11th February 2019 Russian gold miner Polymetal on Monday announced the approval of the POX-2 project and authorised the immediate start of construction, with the aim of commissioning the plant by the third quarter of 2023. The company’s second pressure oxidisation facility is immediately adjacent to the current... 

On-The-Air (08/02/2019) 

By: Martin Creamer     8th February 2019 The Mining Indaba has become a budding United Nations of Africa that is singing off the same hymn sheet to build a better continent. De Beers stole the Mining Indaba show by announcing a R30-million investment in diamond exploration in South Africa. Gold mining companies that destroy Africa’s... 

Shares in Russia's Rusal jump 12% on upbeat aluminium demand outlook

By: Reuters     8th February 2019 Russian aluminium giant Rusal expects demand for aluminium to grow in 2019 and sees potential for prices to rise, it said on Friday, sending its Hong Kong-listed shares up 12% to a 10-month high. Shares in Rusal, the world's largest aluminium producer outside China, hit their highest since April... 

Fourteen NGOs oppose LME plans to ban tainted cobalt

By: Reuters     7th February 2019 Fourteen nongovernmental organisations (NGOs) including Amnesty and Global Witness have opposed plans by the London Metal Exchange to ban cobalt tainted by human rights abuses, a letter seen by Reuters showed. Cobalt is a key ingredient in the batteries that power electric vehicles, a... 

Precious metal refiners face new LBMA environmental standard  

By: Martin Creamer     7th February 2019 The London Bullion Market Association (LBMA) has launched a new standard that addresses environmental as well as sustainability issues in gold and silver markets. To do that in a credible way, LBMA has been actively engaging with mining companies and producer nations. 

Bushveld Minerals hopes to list in Johannesburg by Q3

By: Reuters     6th February 2019 London-listed Bushveld Minerals , which has vanadium mines in South Africa, said on Tuesday it planned a to list on the Johannesburg Stock Exchange by the third quarter of this year. Bushveld Minerals, which has vanadium operations in South African and coal operations in Madagascar, said the... 

India's Vedanta sinks 20% to 2-1/2-year low

By: Reuters     1st February 2019 Shares of India’s Vedanta slumped to a two-and-a-half-year low on Friday after analysts expressed concerns over an investment by the parent company of the conglomerate in African miner Anglo American. Vedanta said on Thursday its foreign unit Cairn India Holdings had paid $200-million to buy a... 

Polymetal to shun M&A in 2019, focus on asset sales

By: Reuters     1st February 2019 Russian gold and silver producer Polymetal said on Thursday it will focus on asset sales in 2019 rather than getting involved in industry consolidation. "The pressure from at least some of our shareholders has been to grow smaller or to grow more focused to reduce the number of assets in our... 

Alex Grose

By: Martin Creamer     1st February 2019 Alex Grose, MD of Investing in African Mining Indaba, which this year takes place in Cape Town from February 4 to February 7 for the 25th consecutive year. 

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... 

PGM-using patents abound – CPM  

By: Martin Creamer     31st January 2019 Viable patents that involve the use of platinum group metals (PGMs) should be commercialised so that PGMs become less dependent on the automotive market, says CPM Group MD and founder Jeffrey Christian. CPM’s current projections, which are similar to those in the automotive and electricity supply... 

Kapan boosts Chaarat’s forecast output to 65Moz

By: Creamer Media Reporter      30th January 2019 London-listed Chaarat has completed the $55-million acquisition of Kapan Mining and Processing from fellow-listed Polymetal International. Of the total consideration of $55-million, $10-million was settled on completion in convertible loan notes and $5-million was paid as a deposit in November.... 

Palladium theft rampant – FT 

By: Martin Creamer     29th January 2019 Palladium, used in catalytic converters that reduce harmful petrol vehicle emissions, is catalysing a crime wave in the UK, says the Financial Times (FT) of London. “Thieves are stealing catalytic converters – often in broad daylight – and selling the devices to illegal scrap dealers for cash,”... 

West Kytlim mining contract agreed for 2019 season

By: Tasneem Bulbulia     28th January 2019 London-listed precious metals producer Eurasia Mining on Monday announced that it had hired Uralmetmash, formerly Techstroy, for the 2019 mining season at the West Kytlim platinum, palladium, rhodium, iridium and gold mine, in Russia. Techstroy was the contractor employed at the West Kytlim mine... 

Jangada doubles Jorc resource at Pedra Branca

By: Simone Liedtke     28th January 2019 The share price of Jangada Mines rose sharply on Monday morning, after the company announced an upgrade of 117% to its 2012 Joint-Ore Reserves Committee- (Jorc-) compliant resource, which, in turn, meant a substantial increase in the size and categorisation of the resource at the company’s Pedra... 

Trump lifts Rusal, EN+ sanctions as Glencore shuffles stake

By: Bloomberg     28th January 2019 The US Treasury Department lifted sanctions on three firms tied to Russian tycoon Oleg Deripaska, including United Co. Rusal, a move that will provide relief to the global aluminum market. The metal fell in London. Deripaska, an ally of Russian leader Vladimir Putin, will remain under US... 

Second Vale dam burst in Brazil likely to curb mining risk appetite

By: Reuters     28th January 2019 Mining company Vale's second dam disaster in Brazil in less than four years deals a blow to an industry grappling with investor wariness and a poor image and casts doubt on new President Jair Bolsonaro's vow to reduce government regulation. Brazilian rescue workers on Saturday were searching for... 

Premier signs financing agreements for $68m

By: Tasneem Bulbulia     25th January 2019 Canadian precious metals miner Premier Gold Mines has signed a definitive credit agreement with Investec Bank, as administrative agent for the lenders for a $50-million secured revolving term credit facility, the company announced on Friday. Premier also announced financing arrangements with OMF... 

Fieldfisher advises on over US$1 billion of metals and mining deals

25th January 2019 Firm strengthens reputation as leading adviser to growing international mining and metals companies, successfully closing a string of major strategic financing and broader corporate deals in testing market conditions. European law firm Fieldfisher closed mining and metals deals in excess of US$1... 

Kaz reports strong copper, gold production for 2018

By: Marleny Arnoldi     24th January 2019 Kazakhstan- and London-listed Kaz Minerals managed to increase its copper production for 2018 by 14% to 294 700 t, compared with 258 500 t in 2017, hitting the upper end of its 270 000 t to 300 000 t guidance. The company’s gold production for the year also increased to 183 400 oz, compared... 

Polyus upgrades mineral resource, sets production record at 2.4Moz

By: Marleny Arnoldi     24th January 2019 Moscow- and London-listed Polyus has updated the mineral resource estimate for its Sukhoi Log project, and reported a maiden Joint Ore Reserves Committee-compliant indicated mineral resource estimate completed by AMC Consultants. The estimated mineral resources at Sukhoi now stand at... 

Strongbow to get £1m injection upon Aim listing

By: Marleny Arnoldi     24th January 2019 TSX-V-listed Strongbow Exploration reported on Thursday the Cornwall Council had voted in support of a £1-million investment into the company, subject to a listing on London’s Alternative Investment Market (Aim) Exchange. “We welcome this positive decision for the project, which reflects the... 

Parys Mountain optimisation study progresses

By: Tasneem Bulbulia     22nd January 2019 London-listed Anglesey Mining has noted progress of the optimisation study being carried out on its Parys Mountain copper, zinc, lead, gold and silver project, located on the island of Anglesey in North Wales. The optimisation study is being conducted under a project development and cooperation... 

Three named to En+ voting trust as Deripaska looks to reduce stakes

By: Reuters     18th January 2019 Russian conglomerate En+ Group on Friday named three Americans who will form a voting trust to help Oleg Deripaska reduce his stake in the company in exchange for a waiver from US sanctions. Deripaska has agreed to reduce his stake in London-listed En+ to 44.95% from 70% and assign any voting... 

Aussie coal junior claims discrimination in Poland

By: Mariaan Webb     18th January 2019 Australia-headquartered Prairie Mining, which focuses on coal projects in Poland, said on Friday that, as a foreign investor, it faced discriminatory treated in Poland, as its tussle with the Ministry of Environment (MoE) over the Debiensko mining concession dragged on. The company has applied... 

IEA sees oil demand growth defying economic slowdown for now

By: Bloomberg     18th January 2019 Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency. “We have seen prices fall very significantly since the peak at the beginning of October, and that is... 

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