R/€ = 14.50 Change: 0.00
R/$ = 11.74 Change: 0.00
Au 1347.33 $/oz Change: 7.59
Pt 949.50 $/oz Change: -5.25

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Concerted effort needed to combat South Africa’s illegal mining scourge

By: Dylan Slater     23rd March 2018 A multipronged approach involving both the mining industry and government is required to better deal with illegal mining in South Africa, where bloody skirmishes pitting rival gangs profiting from this illicit pursuit and the illegal mineworkers themselves are a frequent occurrence, with police... 

Concerted effort needed to combat South Africa’s illegal mining scourge

Gold's 'good week' gets better as trade war ignites haven demand

By: Bloomberg     23rd March 2018 Gold’s getting a double boost this week as investors piled into the traditional haven as a long-awaited trade war finally erupted between the US and China, extending gains that came after the Federal Reserve’s policy outlook proved less hawkish than feared. Bullion for immediate delivery rallied... 

 Gold's 'good week' gets better as trade war ignites haven demand

Rio Tinto sees iron-ore market staying balanced through 2019 – exec

By: Reuters     23rd March 2018 Rio Tinto expects the global iron ore market to stay balanced through 2019 despite a likely moderation in steel demand growth in China, the world's biggest steel consumer, a senior executive said on Friday. "I think the iron-ore market is pretty well balanced...We don't see remarkable change in... 

Cause of fire at Exxaro reductants plant in Limpopo being investigated

By: Marleny Arnoldi     23rd March 2018 Diversified miner Exxaro Resources and the Department of Mineral Resources are investigating the cause of a fire that broke out at Exxaro’s Grootegeluk reductants plant, in Lephalale, Limpopo, on Wednesday.  

Optimum, Koornfontein employees have not been paid March salaries – NUM

By: Anine Kilian     23rd March 2018 The National Union of Mineworkers (NUM) on Friday said its members at the Optimum and Koornfontein mines have not been paid their March salaries, despite the business rescue practitioner (BRP) promising to pay the workers by Thursday evening. In meetings held between the BRP and the NUM, the BRP... 

AMCU demands summit to discuss renewable energy jobs

By: Anine Kilian     23rd March 2018 The Association of Mineworkers and Construction Union (AMCU) has called for an urgent summit with labour, State-owned Eskom and government to discuss renewable energy and jobs. The trade union said in a statement on Friday that the Departments of Trade and Industry and Economic Development had to... 

Amplats commits to community water initiative near Mogalakwena

By: Marleny Arnoldi     23rd March 2018 Global platinum miner Anglo American Platinum (Amplats) has embarked on an initiative to fund solutions to some of the water challenges in the communities surrounding its Mogalakwena openpit mine, in Limpopo.  

Amplats commits to community water initiative near Mogalakwena
Photo by Bloomberg
Amplats commits to water provision project in Limpopo

Lonmin hands over New Marikana primary school to Basic Education dept

By: Marleny Arnoldi     23rd March 2018 Platinum group metals miner Lonmin on Friday handed the New Marikana primary school over to the North West Department of Education and Sport Development, in Rustenburg, and the Marikana community.  

Congo mines minister rejects industry proposal to retain exemptions

By: Reuters     23rd March 2018 Democratic Republic of Congo's mines minister rejected a proposal by mining companies on Friday to retain exemptions and scrap some taxes in exchange for higher royalties than those in a new mining code, calling the taxes "untouchable". Mines Minister Martin Kabwelulu was reacting to a proposal... 

Premier appoints financial adviser for Zimbabwe mine

By: Simone Liedtke     23rd March 2018 Emerging tungsten producer Premier African Minerals has appointed London-based financial consultant Brandon Hill Capital as financial adviser to assist the company with regards to the funding and development of the Zimbabwe-based RHA tungsten mine, in which Premier has a 49% interest and is the... 

Globe denies wrongdoing in Malawi

By: Esmarie Swanepoel     23rd March 2018 The share price of junior ASX-listed Globe Metals & Mining dropped more than 11% on Friday, after the company reported that its Malawian subsidiary was facing legal action. Globe Metals and Mining (Africa) has been named as a defendant in a legal action started in the High Court of Malawi, by... 

Mining Weekly iPhone and Android Apps available for free download 

     23rd March 2018 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Barrick Gold cuts 2017 compensation for top two executives

By: Reuters     24th March 2018 Barrick Gold, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines. Shares in the Canadian miner declined 15% last year, even as the price of gold gained 11%. In 2017 Barrick... 

Mexican federal court OKs Odyssey’s offshore sulphate mining permit; others to benefit

By: Henry Lazenby     24th March 2018 The Mexican Superior Court issued a unanimous ruling this week in favour of Nasdaq-listed Odyssey Marine Exploration’s subsidiary Exploraciones Oceánicas (ExO), which overturned a previous denial of ExO’s environmental permit application to extract phosphate sand from its Don Diego project, in... 

Mexican federal court OKs Odyssey’s offshore sulphate mining permit; others to benefit

Largo narrows FY2017 loss as record Q4 output, rising metal prices boost bottom line

By: Henry Lazenby     24th March 2018 Canadian vanadium producer Largo Resources has narrowed its full-year 2017 net loss to C$10.4-million, or $0.02 a share, as record quarterly production dovetailed into higher realised prices for its vanadium pentoxide product. Largo has set a new monthly production record in December at its... 

SLAM stakes new cobalt project in Bathurst Mining Camp

By: Henry Lazenby     23rd March 2018 Base metals-focused project generator SLAM Exploration jumped 50% on Friday after the junior announced that it has acquired a new cobalt exploration property in the Bathurst Mining Camp of New Brunswick through claim staking. The Miramichi, New Brunswick-based explorer said it had staked 67... 

US Army Corps announces scoping period for Northern Dynasty’s Pebble project

By: Henry Lazenby     23rd March 2018 The US Army Corps of Engineers – Alaska District will publish a notice of intent in the US federal register next week to prepare a draft environmental impact statement (EIS) to review the Pebble Limited Partnership’s (PLP) application to discharge fill material into US waters of the for the... 

Condor Gold raises £2.5m to see it through permitting process

By: Marleny Arnoldi     23rd March 2018 UK-based project developer Condor Gold announced on Friday that it would raise £2.5-million in a placing of about 5.1-million units at £0.43 each, together with a proposed directors’ subscription of 616 279 units.  

Private equity firm invests $15m in Serabi

By: Simone Liedtke     23rd March 2018 Private equity group Greenstone Resources has agreed to invest $15-million to acquire a 29.82% interest in Brazil-focused gold exploration and production company Serabi Gold. The strategic investment will take place via a subscription for 297 759 419 new ordinary shares at a price of 3.6p each,... 

Britain refuses permission for new coal mine in northeast England

By: Reuters     23rd March 2018 The British government has refused to allow a new opencast coal mine to be built in northeastern England, the Minister for Local Government said on Friday. Northumberland County Council agreed last year that developer The Banks Group could extract three-million tonnes of coal by cutting an... 

Trans-Siberian sets 2018 production guidance

By: Simone Liedtke     23rd March 2018 LSE-listed Trans-Siberian Gold (TSG) is targeting gold production of between 36 000 oz and 40 000 oz in 2018, with the upper end of the range representing a 9% year-on-year increase in total output. This follows a strong performance in 2017, when the Russia-focused miner exceeded its guidance,... 

Beowulf releases Finland graphite drilling results

By: Marleny Arnoldi     23rd March 2018 Aim-listed exploration and development company Beowulf on Friday announced the preliminary drilling results for its latest drilling campaign at its Aitolampi graphite project in Finland.  

Beowulf releases Finland graphite drilling results
Photo by Bloomberg
Beowulf Mining is drilling for graphite at its Aitolampi project in Finland

Norsk Hydro sees limited effect from US aluminium tariffs

By: Reuters     23rd March 2018 Norwegian aluminum-maker Norsk Hydro on Friday said the new US toll barriers on aluminium would have a very limited direct effect on the firm. "From a Norwegian perspective, this will have a very limited effect on us", said Hydro spokesman Halvor Molland, adding that Hydro had "some exports" to... 

Noble survival threatened as miner sues to end coal deal

By: Bloomberg     23rd March 2018 Noble Group’s week of woe just got a lot worse as the trader, which has defaulted and seen founder Richard Elman quit the board, was sued by an Indonesian coal miner for more than a quarter of a billion dollars in a case that may jeopardise some of its remaining business. In addition to the sum... 

Carbine pulls plug on Mt Morgan, MD quits

By: Esmarie Swanepoel     23rd March 2018 ASX-listed Carbine Resources has pulled the plug on its Mount Morgan gold project, in Queensland, after failing to reach agreements with project stakeholders. Carbine in February warned shareholders about the future of Mt Morgan, after an economic review determined that the project would not... 

Carbine pulls plug on Mt Morgan, MD quits

Atrum granted exploration permit in Canada

By: Esmarie Swanepoel     23rd March 2018 Coal miner Atrum Coal has been granted an exploration permit for the Elan South project, in Canada, from the Alberta Energy Regulator. Atrum in August last year entered into a share sale deed to acquire Canada’s Elan Coal’s properties in Alberta. As consideration for Elan, the vendors would... 

Broken Hill and Cobalt Blue partner with LG

By: Esmarie Swanepoel     23rd March 2018 Joint venture (JV) partners Broken Hill Prospecting and Cobalt Blue Holdings have signed a strategic partnership with the resources investment arm of the LG Corporation. Under the terms of the partnership, LG International will provide capital and technical assistance at the Thackaringa cobalt... 

Chalice shuffles board and management teams

By: Esmarie Swanepoel     23rd March 2018 Dual listed gold company Chalice Gold Mines has announced a board shuffle aimed at unlocking the value of its gold and base metals projects. Chalice MD Tim Goyder has now been appointed as executive chairperson, with corporate development manager Alex Dorsch appointed as CEO. The company’s... 

Lithium miner eyes even greater riches in piles of battery waste

By: Bloomberg     23rd March 2018 Recycling lithium material from used electric vehicle batteries promises to be even more profitable than mining the increasingly valuable metal, according to an Australian producer building a test facility in Canada. Perth-based Neometals is working to recover raw materials including lithium,... 

Trump temporarily excludes EU, six other allies from steel tariffs

By: Reuters     23rd March 2018 US President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher US import duties on steel and aluminum meant to come into effect on Friday. In a Presidential proclamation published late on Thursday, Trump said he would suspend... 

Metro readies for Cyclone Nora

By: Esmarie Swanepoel     23rd March 2018 The start of mining operations at the Bauxite Hills mine, in Queensland, could be delayed by a week, Metro Mining has warned, as the company prepared the site for Tropical Cyclone Nora. Metro on Friday reported that all non-essential staff and contractors had been flown out from the Bauxite... 

Orinoco raises cash for Cascavel

By: Esmarie Swanepoel     23rd March 2018 Gold miner Orinoco Gold has raised A$12.1-million in a share placement to ramp-up production at its Cascavel operation, in Brazil, and to unlock value from its exploration assets. Orinoco will place more than 115.8-million fully paid ordinary shares, along with one free attaching option on a... 

Mining Charter, sustainability and coal make this week's headlines 

     23rd March 2018 This week, ARM's Patrice Motsepe predicts a successful charter and land outcomes; Anglo commits to ambitious sustainability strategy and Exxaro’s Coal, rapid loadout projects are under construction. Mining Weekly editor Martin Creamer unpacks the headlines. 

Mining Charter, sustainability and coal make this week's headlines

Women at Glencore oil trading unit earn 28% less than men

By: Bloomberg     23rd March 2018 Women working in oil trading at Glencore earn 28% less pay on average than men and receive bonuses that were 57% lower. The income disparity, disclosed by the second-biggest independent oil trader under UK government-mandated pay gap reporting, underscores the lack of women in senior roles at... 

Eldorado falls to new 52-week low as Q4 results, technical studies fail to impress

By: Henry Lazenby     23rd March 2018 Canadian gold producer Eldorado Gold has slipped to a fresh 52-week low on both the TSX and NYSE on Thursday after it reported disappointing fourth-quarter financial results and a 10% fall in overall gold reserves. Vancouver-based Eldorado reported a net loss of $20.7-million, or $0.03 a share,... 

Barrick bags another confidence boost as S&P upgrades rating to ‘BBB’, stable

By: Henry Lazenby     23rd March 2018 The world’s largest gold producer Barrick Gold’s intensive corporate strategy to reduce debt and company-wide costs over the last several quarters has been paying off, with a second major credit ratings agency upgrading the miner's long-term corporate credit rating this month. S&P Global Ratings... 

Codelco reaches agreement with professionals at Ministro Hales mine

By: Reuters     23rd March 2018 Chile's state copper miner Codelco said on Thursday it had reached an agreement with the professionals' union at its Ministro Hales mine, in northern Chile, following early talks on a new collective labour contract. The 36-month contract, which includes a signing bonus of 7.1-million pesos ($11... 

Excellon swings back into black on dry mining conditions

By: Henry Lazenby     23rd March 2018 Mexico’s highest-grade silver producer, Excellon Resources, has reported its first quarterly headline profit since the second quarter of 2016, thanks to optimisation efforts to effectively dewater the flagship Platosa mine. The Platosa deposit comprises several high-grade massive sulphide mantos... 

Excellon swings back into black on dry mining conditions

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