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Chinese firm to build fertiliser plant in Uganda

By: Reuters Uganda has signed a deal with a Chinese company to develop a phosphate mine and fertiliser plant as part of a broader agreement that will see the firm spend at least $620-million, the country's minerals minister said on Tuesday. Uganda currently imports all its fertiliser ingredients, making... 

Chinese firm to build fertiliser plant in Uganda

True Gold draws down $20.7m of $100m facility

By: Henry Lazenby Canadian project developer True Gold on Wednesday reported that it had drawn down a further $20.7-million of the $100-million project financing agreement from Franco-Nevada Corporation and Sandstorm Gold. This was the second draw down that True Gold had made under the agreement, bringing the... 

True Gold draws down $20.7m of $100m facility

Iron-ore hits 5-1/2 yr low, rebar falls on year-end cash crunch

By: Reuters Iron ore prices fell 3.5% to a 5-1/2 year low on Tuesday on renewed concerns over rising supply, while rebar futures in China slipped more than 2% as mills and traders liquidated positions ahead of year-end loan repayments. Australia earlier slashed its price forecast for iron-ore in 2015 by a... 

M'bishi Materials, Mitsui buy copper concentrates from Oyu Tolgoi on trial

By: Reuters Japan's Mitsubishi Materials Corp and Mitsui & Co have bought 5 000 t of copper concentrates from Mongolia's Oyu Tolgoi copper mine, operated by Rio Tinto , on a trial basis, in an effort to diversify their procurement sources. "We purchase over 60% of copper concentrates from Chile and Peru and... 

Turning point for coal? Japanese trading firms snap up coal assets

By: Reuters Only a few months ago, a potential buyer said Japanese trading house Marubeni Corp was prepared to sell a costly stake in a Canadian coal mine for as little as $1. But a flurry of acquisitions of high-quality coal assets by Japanese firms in recent weeks signals that some trading houses at least... 

Turning point for coal? Japanese trading firms snap up coal assets

Goldman sells Metro metals warehouse unit to Reuben Bros

By: Reuters Goldman Sachs Group has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said on Monday. The deal for Metro International Trade Services comes months after Goldman formally put the business on the block. Goldman bought Metro... 

Sandvik Mining supplies drills for contract miner Aveng Moolmans’ Nkomati site

By: Henry Lazenby Global mining equipment and services provider Sandvik Mining has recently provided one of Africa’s largest contract miners Aveng Moolmans with five diesel-powered drill rigs for use on the Nkomati nickel mine, in the northeast of South Africa, near Machadodorp in Mpumalanga. Speaking to Mining... 

Kazakh miner GoldBridges joins London exchange main board

By: Reuters GoldBridges, a small Kazakh gold miner led by a member of the well-connected Assaubayev family, on Friday joined the main board of the London Stock Exchange and is hoping to improve the image of Kazakh businesses in the mining sector. The company, which already produces about 30 000 oz/y of gold... 

Benchmark ferrochrome price settled 6% lower – Merafe

By: Martin Creamer The European benchmark price of ferrochrome has been settled 6% lower for the first quarter of next year, the JSE-listed Merafe Resources said on Friday. The price of $1.08/lb for the first quarter of 2015 is seven cents a pound lower than the current $1.15/lb price of the fourth quarter of 2014. 

Benchmark ferrochrome price settled 6% lower – Merafe
Photo by Duane Daws
Ferrochrome production at Glencore-Merafe's Lion smelter

Zambia royalty hike to force mine closures – chamber

By: Reuters Zambia's decision to hike royalty rates on open pit mining from 6% to 20% will lead to shaft closures and 12 000 job losses, the chamber of mines said on Friday. Barrick Gold said on Thursday it would suspend operations at its Lumwana Copper Mine after royalty increases were passed into law in... 

Zambia royalty hike to force mine closures – chamber

Creamer Media publishes Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector research report

Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the logistics of transporting liquid fuels... 

Creamer Media publishes Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector research report

JV partners ink another IBA with First Nation for Gahcho Kué diamond project

By: Henry Lazenby Precious gems giant De Beers Canada and junior Mountain Province Diamonds (MPD) on Monday announced that they had signed an impact benefit agreement (IBA) with the Deninu Kué First Nation for the proposed Gahcho Kué diamond mine. The IBA put in place a framework for De Beers and the Deninu Kué... 

JV partners ink another IBA with First Nation for Gahcho Kué diamond project

Eco Oro evaluating Colombia mine project after environmental ruling

By: Reuters Toronto-listed Eco Oro said on Tuesday it was evaluating how it would develop its gold mining project in Colombia after the government marked out the geographic limits of protected moorland in the area it has been planning to mine. The company said last week's determination of the limits of the... 

Debate over Brazil’s new mining code shifting gears

By: Simon Rees After a knife-edge campaign Dilma Rousseff, leader of the left-wing Workers’ Party, was re-elected with just 51.6% of the vote in Brazil’s October elections. Much of the debate revolved around the country’s disappointing economic performance; Brazil’s gross domestic product (GDP) growth has been... 

Debate over Brazil’s new mining code shifting gears
Photo by Reuters
Brazilian president Dilma Rousseff

Australia cuts iron-ore price forecast 33% as supply mounts

By: Reuters Australia on Tuesday slashed its price forecast for iron ore in 2015 by a third to $63/t from $94/t in September, saying expectations of a drop in Chinese output to counter a mounting global supply glut had yet to occur. Iron or miners have been counting on a drop in Chinese output to help... 

Freeport should build two new Indonesia copper smelters by 2020 - govt

By: Reuters Freeport-McMoRan needs to build two Indonesian copper smelters at a cost of around $4-billion by 2020, a government official said, as talks resumed between the miner and Jakarta over the firm's future in the Southeast Asian country. The proposal comes five months after Freeport signed a... 

Freeport should build two new Indonesia copper smelters by 2020 - govt

Chilean mining firms nervous about impending labor reforms

By: Reuters Mining firms in Chile, the world's top copper producer, say the government has left them in the dark over a new labour bill to be delivered to Congress this month, undermining the confidence of investors grappling with low metal prices. President Michelle Bachelet's socialist government says it... 

Chilean mining firms nervous about impending labor reforms

Iron-ore prices back at 4-1/2 yr lows on demand, policy worries

By: Reuters Iron ore prices slid back to 4-1/2 year lows on Monday while Chinese rebar futures fell, both hit by concerns over weak demand and that China may end a tax rebate for some steel exports. Benchmark 62% grade iron-ore for immediate delivery to China fell 2.2% to $68/t, according to data from the... 

Feds give Seabridge Gold's KSM the environmental nod

By: Henry Lazenby One of the world’ largest undeveloped gold and copper projects, Seabridge Gold’s KSM project, in north-west British Columbia, has received the nod of approval from Canada’s Minister of the Environment Leona Aglukkaq, marking the end of a nearly seven-year journey to complete the joint harmonised... 

Alpha Natural affiliates settle selenium-discharge cases brought by greens

By: Henry Lazenby US coal producer Alpha Natural Resources affiliated mining operations has settled three selenium-discharge law suits brought by four environmental organisations. Selenium is a naturally occurring element that could be released into streams as a by-product of some common earth moving activities,... 

Oyu Tolgoi on track for full-year guidance despite concentrator fire, lowers 2015 guidance

By: Henry Lazenby Rio Tinto Subsidiary Turquoise Hill Resources on Friday reported that despite a recent concentrator fire at the massive Oyu Tolgoi copper/gold mine, in Mongolia, the operation was on track to meet its expected full-year output. Turquoise Hill in October reduced its 2014 forecasts for gold and... 

Sherritt International announced 2 new production-sharing contracts with Cuba

By: Henry Lazenby TSX-listed Sherritt International Corp on Firday announced that it had inked two more production sharing contracts (PSCs) with Cuba, where it has oil and gas assets. The new blocks, 8A and 10, are located in Central and Northern Cuba and cover areas of 967 km2 and 261 km2, respectively. 

Codelco says El Teniente expansion two to three yrs behind schedule

By: Reuters The expansion of Chilean copper company Codelco's El Teniente underground mine has fallen around two to three years behind schedule, CEO Nelson Pizarro said on Friday. Pizarro, who took the helm at the world's No 1 copper producer earlier this year, added that the El Teniente expansion will... 

Colombia fixes moorland boundaries affecting gold miners

By: Reuters Colombia's Environment Ministry announced it had fixed the boundaries of an ecologically delicate moorland in the country's northeast, a decision that would affect two of three miners with a licence to explore or develop mining there. Environment Minister Gabriel Vallejo said 100 000 ha of land... 

Gold tooth lands in Missouri Salvation Army kettle

By: Reuters People have tossed gold and silver pieces into Salvation Army holiday kettles but a gold tooth found this week in Kansas City was a local first, an organisation leader said on Friday. "It's the whole tooth, with the root and everything," said Rick Carroll, who is in charge of the Salvation Army... 

IMF urges Zambia to resolve tax issues with mining companies

By: Reuters The International Monetary Fund has urged Zambia, Africa's second-largest copper producer, to quickly resolve issues with mining companies over value-added tax refunds and an increase in royalties. Lower world copper prices and the announced shift to a royalty-only min 

Horseshoe waits for better days

By: Esmarie Swanepoel ASX-listed junior Horseshoe Metals would have to wait for an increase in commodity prices before considering the development of its Horseshoe Lights copper-gold project, in Western Australia. A scoping study into the project, which is estimated to host some 12.85-million tonnes of resource,... 

LNG suppliers hoping for increased demand from China - WoodMac

By: Esmarie Swanepoel The prices of liquefied natural gas (LNG) may be put under pressure in 2015, given the relatively low oil price environment, and the uncertain demand from China, advisory firm Wood Mackenzie (WoodMac) reported this week. In its Horizons outlook report, WoodMac analyst noted that during 2014,... 

LNG suppliers hoping for increased demand from China - WoodMac

Kin identifies possible early start at Leonora

By: Esmarie Swanepoel ASX-listed developer Kin Mining on Friday announced the potential of a near-term production opportunity at its recently acquired Leonora gold project, in Western Australia. The company told shareholders that following the interrogation of the Leonora database, the company has identified... 

Vimy adds to Mulga Rock resource

By: Esmarie Swanepoel Uranium developer Vimy Resources, previously known as Energy and Minerals Australia, has reported a 60% increase in the resource estimate at Princess deposit, at its Mulga Rock uranium project in Western Australia. The Princess deposit is now estimated to host a resource of 3.8-million tonnes,... 

Falling prices prompt BC and MinRes to amend agreement

By: Esmarie Swanepoel Iron-ore miner BC Iron and fellow-listed Mineral Resources have amended the terms of the existing Iron Valley iron-ore sales agreement, in an effort to negate the declining market conditions. Mineral Resources signed the initial Iron Valley agreement with Iron Ore Holdings (IOH) in February last... 

Santos gest a $1bn buffer

By: Esmarie Swanepoel Oil and gas major Santos has secured an additional $1-billion bilateral bank loan facility, to enhance the company’s liquidity profile and financial flexibility. CFO Andrew Seaton said that the new three-year facility further strengthened the company’s conservative liquidity profile. 

Blackham eyes 2015 start at Matilda

By: Esmarie Swanepoel Junior gold developer Blackham Resources was hoping to start production at its 4.4-million ounce Matilda project, in Western Australia, by the end of 2015, pending financing. The company reported on Friday that discussions were ongoing with a number of potential funders which have expressed... 

Peru OKs environmental study for Southern Copper mine expansion

By: Reuters Peru approved the environmental study for Southern Copper's $1.2-billion expansion of its Toquepala mine, a project expected to raise copper output by 100 000 t/y, the government said on Thursday. Construction on the expansion, which will add a new concentrator at the mine and boost its tailings... 

Management-shuffling Karnalyte receives meeting request from activist shareholders

By: Henry Lazenby Saskatchewan-focused potash project developer Karnalyte Resources on Thursday said it had received a shareholder-meeting requisition from company founder, former president, CEO and director Robin Phinney. TSX-listed Karnalyte said the board was asked to call a special shareholder meeting to... 

BC chief inspector of mines amends Mt Polley Act to enable repairs to start

By: Henry Lazenby The chief inspector of mines for British Columbia has approved an amendment to the Mount Polley Mine Corporation Mines Act permit to allow the company to start repairs of the breach in its tailings storage facility dam. The repair work was part of the long-term remediation plan for the area... 

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