R/€ = 15.83 Change: -0.11
R/$ = 13.53 Change: -0.12
Au 1228.88 $/oz Change: 5.63
Pt 829.00 $/oz Change: 16.94


Oyu Tolgoi in deals with Chinese contractors for power station

By: Mariaan Webb     19th July 2018 Mongolia copper and gold miner Oyu Tolgoi, which is controlled by Rio Tinto, has entered into agreements with three Chinese contractors to submit bids for the engineering, design and construction of a power station at the mine site. The company has refreshed previous plans to develop its own... 

Guinea's mining minister says there will be Simandou deal, talks go on

By: Reuters     18th July 2018 Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. Rio Tinto said in October 2016 said it had signed an outline agreement to sell its major stake... 

Laramide buys Rio tenements

By: Esmarie Swanepoel     17th July 2018 Dual listed uranium developer Laramide Resources will spend A$450 000 to purchase the Murphy uranium tenements, in the Northern Territory, from major Rio Tinto’s exploration arm. The purchase agreement replaces an existing farm-in and joint venture agreement between the two companies. 

Rio says workers return at South Africa's Richards Bay Minerals

By: Bloomberg     16th July 2018 Rio Tinto’s Richards Bay Minerals in South Africa said workers are reporting for duty after violence and protests that started more than a week ago shut the operations. “Following a significant improvement in the security situation, employees are returning to work today and we will safely ramp up... 

Top-grade iron-ore may spike to $100/t

By: Bloomberg     16th July 2018 High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material.... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

By: Reuters     13th July 2018 Copper headed for a fifth weekly loss on Friday as trade tensions between the United States and China rumbled on, while aluminium hit a three-month low ahead of a summit between US President Donald Trump and Russian President Vladimir Putin. Trump and Putin are due to meet in Helsinki on Monday... 

Rio Tinto autonomous train makes first delivery 280 km away

By: Esmarie Swanepoel     13th July 2018 Mining major Rio Tinto has delivered its first iron-ore delivery by autonomous train from the Tom Price mine, to the port of Cape Lambert, some 280 km away. The autonomous train consisted of three locomotives and carried about 28 000 t of ore. The train was monitored remotely by operators in... 

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine

By: Reuters     12th July 2018 Indonesia on Thursday struck an agreement with Freeport-McMoRan and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85-billion. The heads of agreement establishes a structure for Indonesia, through its state-owned mining... 

Bluejay's Dundas may be attractive to Rio Tinto – analysts

By: Mariaan Webb     12th July 2018 The closure of Rio Tinto's South African subsidiary Richards Bay Minerals (RBM) as a result of violent protests this week, may play into the hand of London- and Frankfurt-listed Bluejay Mining, which is developing the Dundas ilmenite project, in Greenland. The project is said to be the... 

Rio Tinto unveils large vivid pink Argyle diamond

By: Creamer Media Reporter      12th July 2018 Rio Tinto has unveiled the largest vivid pink diamond in the history of its Argyle pink diamonds tender, during a preview in Sydney. The 3.14 ct polished emerald cut diamond, known as The Argyle Alpha, is part of the line-up of 63 rare pink, red and violet diamonds in the 2018 Argyle pink... 

Rio Tinto says minerals sands operation in South Africa shut by protests

By: Reuters     11th July 2018 A mineral sands operation on the South African coast run by Rio Tinto has been closed since Friday due to violent community protests which saw a security guard killed earlier this week, the company and a union said on Wednesday. Community unrest is a common feature of South Africa's social... 

Mining offers private equity opportunities despite recovery - Denham

By: Reuters     11th July 2018 Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said. Denham, which closed a new $550-million mining fund sooner than expected on Monday, has already... 

Shell ramps up in Kitimat, raising Canada’s C$40bn LNG hopes

By: Bloomberg     9th July 2018 A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40-billion liquefied natural gas terminal that could at last unlock energy exports to Asia. The action is... 

Chilean miner Mantos Copper seeks buyer to help finance expansion

By: Reuters     6th July 2018 Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said. The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought... 

Iron-ore slides to seven-month low as trade war fears mount

By: Bloomberg     5th July 2018 Iron-ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the US and China. Benchmark spot ore eased to $62.50/t on Thursday, the lowest since November,... 

China says former Rio Tinto executive Stern Hu released from prison

By: Reuters     4th July 2018 China's Foreign Ministry said on Wednesday that Stern Hu, an Australian citizen and former Rio Tinto executive jailed in China on bribery charges eight years ago, has been released. Ministry spokesman Lu Kang made the announcement at a daily news briefing in Beijing. 

Indonesia extends permit for giant Freeport copper mine as talks continue

By: Reuters     4th July 2018 Indonesia has extended a temporary operating permit for Freeport McMoRan's Grasberg project, the world's second-biggest copper mine, until the end of the month while discussions continue over long-term rights. Freeport's local unit, PT Freeport Indonesia (PTFI), has been given a temporary... 

Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine

By: Reuters     1st July 2018 Indonesia's state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia's eastern-most province of Papua, Grasberg, the world's... 

Rio Tinto ready to splash out on copper

By: Reuters     29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

‘Standout’ Glencore is ‘top pick’

By: Martin Creamer     27th June 2018 In a 150-page analysis of four of the world’s biggest diversified mining majors, Glencore has emerged as the top pick of financial services company Credit Suisse, which has declared the London- and Johannesburg-listed company headed by Ivan Glasenberg as the current “standout” diversified mining... 

Rio takes Alloy up on Paterson offer

By: Esmarie Swanepoel     19th June 2018 ASX-listed Alloy Resources has signed a farm-in and joint venture agreement with the exploration arm of major Rio Tinto over an exploration license in the Paterson region of Western Australia. Under the terms of the agreement, Rio Tinto Exploration could earn a 70% interest in the tenement by... 

Rio spending $2.2bn on iron-ore supply

By: Esmarie Swanepoel     18th June 2018 Diversified miner Rio Tinto on Monday revealed that it will be spending some $2.2-billion over the next three years on replacement mines for its iron-ore operations in the Pilbara, including initial spending on the proposed Koodaideri, West Angelas and Robe Valley developments. Rio’s iron-ore... 

New research could unlock Qld bauxite

By: Esmarie Swanepoel     15th June 2018 The Queensland government will provide A$180 000 over the next three years, to fund a research project to develop an innovative mining process that could unlock massive, previously untapped, bauxite deposits in North Queensland, within the next five years. The research is a collaborative project... 

Yancoal denies firm plans for dual listing

By: Esmarie Swanepoel     15th June 2018 ASX-listed Yancoal has denied reports that it has taken a firm decision for a dual primary listing in Hong Kong. The company was responding to reports that a dual listing was planned for later this year, which could raise between $600-million and $800-million. 

The Internet of Things – Monitoring Mine Performance

13th June 2018 The Internet of Things (IoT) is coming to a mine near you.  And it would be a determined Luddite who resists this new wave – the next great industrial revolution that is transforming our world.  Bell Labs has described the “goal of the Internet of All Things to be to build a digital... 

A Success Story in Junior Mining

11th June 2018 At the Junior Mining Indaba 2018, Vuslat Bayoglu shared the transformation of ZAC (Zululand Anthracite Colliery) from major mining to junior mining. Zululand Anthracite Colliery (ZAC), South Africa’s sole producer and exporter of prime anthracite coal, plans to expand its mining operations and... 

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

Rio Tinto inks exploration agreement with China's Minmetals

By: Reuters     7th June 2018 Global miner Rio Tinto inked a joint venture agreement with China Minmetals Corp on Thursday, as the companies look to explore mineral deposits in China. The 50:50 joint venture with State-owned Minmetals follows a technical agreement signed in November when both parties committed to a... 

Trump metal tariffs send corporate Canada reeling in disbelief

By: Bloomberg     2nd June 2018 To get a sense of the disbelief gripping Canadian manufacturers since the U.S. imposed metal import tariffs, have a chat with Marc Dutil. “I just want to scream,” the CEO of structural-steel maker Canam Group said Friday by phone. “All this is doing is creating uncertainty. It’s the last thing... 

Mitsui to keep stake in Australia's Kestrel coking coal mine

By: Reuters     1st June 2018 Mitsui & Co will hold on to its 20% stake in the Kestrel coking coal mine in Australia even after the planned sale of Rio Tinto's 80% stake in the mine, a spokesman for the Japanese trading house said on Friday. "We will continue to be involved in the Kestrel mine with new partners," the... 

S&P’s raises Glencore’s long-term issuer credit rating to BBB+

By: Marleny Arnoldi     30th May 2018 Ratings agency Standard & Poor’s (S&P’s) has raised its long-term issuer credit rating on global diversified miner Glencore and its related entities to ‘BBB+’ from ‘BBB’, with a stable outlook.  

Northern Dynasty tumbles on First Quantum’s Pebble pull-out

By: Henry Lazenby     25th May 2018 The TSX-traded stocks of base metals producer First Quantum Minerals and Northern Dynasty Minerals tumbled on Friday following an overnight joint announcement that the companies have terminated a 2017 framework accord that envisioned the partners closing an option and partnership transaction to... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

By: Henry Lazenby     25th May 2018 Only about one-third of the 15 largest copper producers with output of more than 40 000 t of copper per quarter reported positive production trends during the first quarter of this year, driving quarter-on-quarter output 4.8% or 136 548 t lower, a new report by S&P Global has found. However, on... 

Copper miner Atalaya's Q1 profit jumps 54%

By: Mariaan Webb     24th May 2018 Copper miner Atalaya Mining has posted a 54% increase in its first-quarter profit, on the back of stronger copper prices and an increase in concentrate volumes sold. After-tax profit increased from €5.7-million, or 4.8c a share, in the first quarter of 2017, to €8.8-million, 6.5c a share, in... 

Rio Tinto confirms talks to sell $3.5bn Grasberg stake

By: Henry Lazenby     23rd May 2018 Multinational diversified miner Rio Tinto confirmed on Tuesday that it is in talks to potentially sell its stake in the Grasberg copper/gold mine, in Indonesia, to PT Indonesia Asahan Aluminium (Inalum) for $3.5-billion. Media rumours swirled on Tuesday about the deal, prompting Rio Tinto to make... 

Alrosa sees rosy prospects from colourful diamonds

By: Reuters     16th May 2018 Russia's Alrosa, the world's largest diamond producer by output, plans to boost revenue from selling rare, coloured stones where demand is stable, although it is a niche business. Nature gives fancy colours to about one in every 10 000 rough diamonds of gem quality that are mined around the world. 

Rio and Alcoa team up with Apple in zero carbon aluminium smelting drive

By: Esmarie Swanepoel     11th May 2018 Mining major Rio Tinto has teamed up with aluminium producer Alcoa to develop the world’s first carbon-free aluminium smelting process. The new process will produce oxygen and replace all direct greenhouse-gas (GHG) emissions from the traditional aluminium smelting process. 

Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow

By: Henry Lazenby     11th May 2018 The proponent of what will probably be North America’s next new copper mine development, Nevada Copper, has signed a pre-works agreement with Cementation USA and secured key long-lead time items, further derisking the restart of construction of the company's fully permitted and shovel-ready... 

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