R/€ = 15.31 Change: 0.02
R/$ = 13.64 Change: 0.05
Au 1324.94 $/oz Change: 3.86
Pt 1037.00 $/oz Change: 15.00

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Wescoal secures long-term coal export business

By: Martin Creamer     28th September 2016 Coal mining and marketing company Wescoal has finalised a series of coal contracts in line with its stated intention of supplying a million tonnes of coal a year into the export market. The coal purchase confirmations, which involve the supply of more than five-million tonnes of coal from... 

Wescoal secures long-term coal export business
Photo by Duane Daws
Wescoal CEO Waheed Sulaiman

Project house DRA appoints new CEO

By: Martin Creamer     28th September 2016 Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

Project house DRA appoints new CEO
New DRA CEO Wray Carvelas

AMSA insists R2.27bn empowerment deal meets highest governance standards

By: Terence Creamer     28th September 2016 Steel producer ArcelorMittal South Africa (AMSA) has unwrapped its long-awaited R2.27-billion broad-based black economic empowerment (BBBEE) transaction, which chairperson Mpho Makwana insists meets the highest standards of probity and governance. An earlier 2010 attempt by the JSE-listed company... 

AMSA insists R2.27bn empowerment deal meets highest governance standards
AMSA's Wim de Klerk and Mpho Makwana with Likamva's Noluthando Gosa and Leslie Maasdorp

Renewables not cost competitive until mid-century – Glencore

By: Reuters     27th September 2016 Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organisations forecast and supporting the mining and trading giant's case for continued investment in coal. Glencore has said coal is still an investment opportunity,... 

Firestone Diamonds one step away from completing Lesotho diamond mine

By: Megan van Wyngaardt     28th September 2016 Aim-listed Firestone Diamonds has “one more item” left before its one-million-carat-a-year Liqhobong project, in Lesotho, enters production in the fourth quarter. During a media briefing, in Johannesburg, on Wednesday, CEO Stuart Brown said the company had around 90 000 t of ore stockpiled and... 

Firestone Diamonds one step away from completing Lesotho diamond mine
Photo by Duane Daws
Firestone CEO Stuart Brown

Regional integration key to bolster local diamond industry, beneficiation 

By: Megan van Wyngaardt     28th September 2016 The importance of regional integration within the Southern African Development Community as a means to advance the region’s diamonds industry was a recurring topic at the South African Diamond Indaba, held in Midrand earlier this week, with industry stalwarts, such as De Beers Consolidated Mines... 

De Beers Consolidated Mines CEO Philip Barton and State Diamond Trader CEO Futhi Mvelase talk about the need for Southern African countries to collaborate to grow the region's diamond sector. Video: Nicholas Boyd; Editing: Lionel da Silva

Lucapa and partners sell Lulo diamonds for $4.1m

By: Creamer Media Reporter      28th September 2016 Australia-based Lucapa Diamond Company and its partners in the Lulo mine have netted $4.1-million from the sale of diamonds recovered at the Angolan mine. The parcel of 2 209 ct of Lulo diamonds sold at an average sales price of $1 868/ct, 40%-owner Lucapa said in a statement on Wednesday. 

Armadale, AMS to form JV to develop DRC project

By: Anine Kilian     28th September 2016 Aim-listed Armadale has entered into a binding heads of agreement (HoA) with African Mining Services (AMS) to form a joint venture (JV) to develop and operate the Mpokoto gold project in the Democratic Republic of Congo’s (DRC's) Katanga province. Mpokoto has an established resource of 678 000 oz... 

StratMin secures $1.5m loan

By: Anine Kilian     28th September 2016 Aim- and ASX-listed StratMin Global Resources has arranged a $1.5-million nonrecourse loan facility secured against the company's holding of 75-million ordinary shares of Bass Metals. Working with a corporate investor that is an existing stakeholder in ASX-listed Bass, StratMin has agreed to... 

Kenya to pick contractor for minerals survey by December – Minister

By: Reuters     28th September 2016 Kenya will appoint a company by December to conduct a year-long airborne survey to map its mineral deposits to attract mining explorers to the nascent sector, Mining Cabinet Secretary Dan Kazungu said on Wednesday. Kazungu said the ministry has initial funding of three-billion shillings... 

Ghana's gold output up 38.6% at 1.99 Moz in first half

By: Reuters     28th September 2016 Ghana's gold output rose 38.6% in the first half of 2016 to 1.99-million ounces from 1.44-million ounces a year ago, boosted mainly by new mining operations, the Ghana Chamber of Mines said on Tuesday. Africa's second-largest gold miner after South Africa earned $2.43-billion from gold in the... 

China tells mines to raise thermal coal output again – sources

By: Reuters     28th September 2016 China has ordered major coal mines to raise thermal coal output by another 500 000 t/d, the latest concerted effort by the government to boost supplies to its electric utilities ahead of the winter, sources said on Tuesday. In the fourth meeting with coal mining executives this month, the... 

Dundee signs $50m forward gold sale

By: Henry Lazenby     Updated 3 hours ago Canadian firm Dundee Precious Metals has amended the $80-million Tranche C component of its revolving credit facility (RCF) to align with the improved construction and commissioning schedule of the Krumovgrad gold project, in Bulgaria, after it received the final construction permit early last... 

New explorer Ocean Minerals to look offshore Cook Islands for REEs

By: Henry Lazenby     Updated 3 hours ago Recently formed US-based exploration company Ocean Minerals is heading to the exclusive economic zone of the Cook Islands, in the Southern Pacific, to look for rare earth elements (REEs) and scandium on the deep ocean floor. The Houston, Texas-based company Wednesday joined the likes of Canadian... 

Ontario govt awards Boart Longyear C$1.37m to improve safety, reduce costs

By: Henry Lazenby     Updated 5 hours ago Multinational drilling equipment and services provider Boart Longyear has received an award of C$1.37-million form the Ontario government to help improve safety at mineral exploration drilling sites and the efficiency of drilling systems technology. The Salt Lake City, Utah-headquartered company... 

Vale says expects current iron-ore price equilibrium to continue

By: Reuters     28th September 2016 Brazil's Vale, the world's largest iron-ore exporter, said on Wednesday it expects balanced supply and demand in the iron-ore market to continue with Brazil adding most of the world's new seaborne supply in 2017. Brazil will add 28-million tonnes of ore to the seaborne market in 2017, 58% of the... 

Argentina judge to rule on suspended Barrick mine soon – local govt

By: Reuters     28th September 2016 Barrick Gold's Veladero mine, in Argentina, could reopen in coming days if a report confirms repairs were made after a leak of processing solution containing cyanide earlier this month, a provincial government said. San Juan province Mining Minister Alberto Hensel said in a statement on Tuesday... 

Canada approves Pacific NorthWest LNG project, but investment decision 'far from certain'

By: Henry Lazenby     28th September 2016 The Canadian federal government has approved the C$11-billion Pacific NorthWest LNG project, a proposal to construct and operate a liquefied natural gas (LNG) facility and marine terminal near Prince Rupert, on British Columbia's North Coast. Majority owned by Malaysia-based Petronas, the project... 

Canada approves Pacific NorthWest LNG project, but investment decision 'far from certain'
Photo by Pacific NorthWest LNG
A rendering of the Petronas Pacific NorthWest LNG plant, in Prince Rupert, BC

BHP restarts Olympic Dam mine shut after power outage

By: Reuters     28th September 2016 BHP Billiton said its Olympic Dam copper, gold and uranium mine was temporarily shut before being restarted with back up generation following a power outage in South Australia state. "Following the loss of power in South Australia, Olympic Dam was able to safely shut down, and start back up... 

Africa 'next China’ – Randgold CEO 

     28th September 2016 Randgold CEO Mark Bristow has declared Africa the next China should it investments coupled with aggressive growth be correctly managed. Martin Creamer joins Tracy Hancock in studio to discuss. 

Africa 'next China’ – Randgold CEO

White Rock unveils ‘game-changer’ equity raising to advance NSW, Alaska projects

By: Mariaan Webb     28th September 2016 Minerals explorer White Rock is seeking to raise $5.74-million through the placement of shares and an entitlement offer to fund studies and exploration at projects in New South Wales and in Alaska. The company will raise $1.62-million in a placement of ordinary shares to investors and up to... 

South Australia suffers state-wide power failure as storm hits

By: Bloomberg     28th September 2016 The entire state of South Australia has lost electricity after severe winds and storms lashed the region, according to SA Power Networks. Australia’s fourth-largest state by area is currently without power and there is “no upstream supply from the transmission network,” the distributor said in a... 

Freeport’s $2bn Anadarko sale said to face lender snag

By: Bloomberg     28th September 2016 Freeport-McMoRan’s bondholders are creating a potential obstacle for a $2-billion asset sale designed to inject cash into the debt-laden commodities producer, according to people with knowledge of the matter. Some of the creditors want more money and greater protection for  allowing the sale of... 

Echo and Metaliko in possible merger

By: Esmarie Swanepoel     28th September 2016 Rumours abound that ASX-listed Echo Resources and Metaliko Resources are planning a merger, after both went into a trading halt pending an announcement around a "material transaction". Echo in August received an indicative nonbinding takeover offer of 15c a share from an unnamed third party. The... 

Echo and Metaliko in possible merger

Kingsgate wary of takeover offer

By: Esmarie Swanepoel     28th September 2016 The board of gold miner Kingsgate Consolidated has urged its shareholders not to take any action on the takeover offer from Singaporean company Northern Gulf Petroleum. Northern Gulf earlier this month offered to acquire a 50.1% stake in Kingsgate for 4.2c a share in cash, with the company’s... 

Petronas' Canadian gas project approved by Trudeau government

By: Bloomberg     28th September 2016 Canadian Prime Minister Justin Trudeau’s government has approved Petroliam Nasional’s C$36-billion ($27-billion) Pacific NorthWest liquefied natural gas project on British Columbia’s Pacific coast. Environment Minister Catherine McKenna, Natural Resources Minister Jim Carr and Fisheries Minister... 

Brown: Unless economy in hands of majority, it's going nowhere

By: News24Wire      28th September 2016 The economy must be controlled by the black majority, said Public Enterprises Minister Lynne Brown. Brown spoke to media briefly following a closed meeting with the Black Business Council (BBC) in Sandton on Tuesday. 

Brown: Unless economy in hands of majority, it's going nowhere
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Emerald to take full ownership of Renaissance

By: Esmarie Swanepoel     28th September 2016 ASX-listed Emerald Resources has moved to take full ownership of takeover target Renaissance Minerals, after acquiring an interest of more than 90% in the company. The two firms in July announced merger plans, which saw Emerald offer 1.55 new shares for each Renaissance share. 

Karoon makes a play in Brazilian oilfield

By: Esmarie Swanepoel     28th September 2016 Melbourne-based oil and gas explorer Karoon Gas Australia will spend up to $20.5-million to gain a 35% equity interest in the Santos Basin exploration blocks, offshore Brazil. Karoon has entered an agreement with Pacific Exploration and Production Corporation to acquire an interest in the five... 

South Australia to review mining legislation

By: Esmarie Swanepoel     28th September 2016 The Association of Mining and Exploration Companies (Amec) has welcomed the South Australian government’s decision to review its mining laws. Mineral Resources and Energy Minister Tom Koutsantonis has called on South Australians to provide input into a comprehensive review of the laws guiding the... 

South Australia to review mining legislation

Honeymoon moves to PFS

By: Esmarie Swanepoel     28th September 2016 An expansion study into the Honeymoon uranium project, in South Australia, has given owner Boss Resources the necessary confidence to move to a prefeasibility study phase, with a decision to mine expected by the end of 2017. The Honeymoon project consists of two main exploration areas and... 

Exterra pushes button on Second Fortune

By: Esmarie Swanepoel     28th September 2016 The board of junior Exterra Resources has approved plans to restart mining at the Second Fortune gold mine, in Western Australia, on the back of higher gold prices. Exterra in February announced that the upward swing in the Australian gold price had significantly increased the project’s... 

MMG offloads mothballed Avebury nickel mine

By: Esmarie Swanepoel     28th September 2016 Metals miner MMG has executed a share sales agreement to divest of its idled Avebury nickel mine, in Tasmania, in a deal valued at A$25-million. The agreement, with privately held Dundas Mining, would see MMG receive a deposit of A$1.5-million on the signing of the agreement, with a further... 

Mining Commissioner issues final order on Cliffs' bid over KWG rail claims

By: Henry Lazenby     28th September 2016 The Mining and Lands Commission of Ontario has made a final order, paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of KWG subsidiary Canada Chrome Corporation... 

Austral restarts Casposo precious metals mine

By: Henry Lazenby     28th September 2016 ASX- and TSX-V-listed Austral Gold is restarting operations at its Argentina-based Casposo gold/silver project, based on the results of an updated reserve estimate. As at June 30, Vancouver-based Austral reported compliant proven and probable reserves of 972 000 t grading 2.53 g/t gold and 231... 

Aquila discovers new ore zone at Back Forty

By: Henry Lazenby     28th September 2016 TSX-listed project developer Aquila Resources has made a new discovery of gold and zinc mineralisation near its Back Forty project, in Michigan's Upper Peninsula. The Toronto-headquartered company on Tuesday reported the assay results of two discovery holes of mineralisation that could... 

Chile regulator approves $19m environment plan at KGHM copper mine

By: Reuters     27th September 2016 Chile's environmental regulator said on Tuesday it has approved a $19.1-million mitigation plan presented by KGHM's Sierra Gorda copper mine, after it found nine infractions at the operation. In March, the SMA environmental regulator pressed charges against Sierra Gorda, saying the copper mine... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise

By: Henry Lazenby     27th September 2016 Canada’s largest diversified miner Teck Resources is positioned to benefit from rising commodity prices owing to its exposure to stronger steelmaking coal and zinc markets, as well as from the weaker Canadian dollar. VP of investor relations and strategic analysis Greg Waller told the Deutsche... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise
Photo by Bloomberg
The zinc, lead and silver smelter of Vancouver-based diversified miner, Teck Cominco, the world's largest zinc producer _ Bloomberg

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