R/€ = 14.42 Change: 0.04
R/$ = 13.48 Change: 0.02
Au 1215.16 $/oz Change: 2.25
Pt 978.00 $/oz Change: -1.75

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Rockwell navigates difficult Q3 as litigation, suspensions take toll

By: Henry Lazenby     17th January 2017 Canada-based alluvial miner Rockwell Diamonds has reported a C$5.5-million net loss for the third quarter ended November 30, owing to litigation and the suspension of mining operations in South Africa's Northern Cape. The TSX- and JSE-listed company on Monday said rough diamond revenues declined... 

Rockwell navigates difficult Q3 as litigation, suspensions take toll

Harmony expects 8% y/y increase in H1 gold production

By: Anine Kilian     17th January 2017 JSE-listed Harmony Gold expects to report an 8% year-on-year increase in gold production for the six months ended December 31. The miner had produced 568 459 oz of gold in the six months to December 2015. 

Local mining industry sees broad-based decline in November production

By: Megan van Wyngaardt     17th January 2017 Although recent updates from the International Monetary Fund and World Bank forecast a moderate recovery in global mining growth, which reached a post-crisis low in 2016, the contraction in South Africa’s mining production still deepened by 4.2% year-on-year in November, from a contraction of... 

Brexit plus Trump have sent gold on a January winning streak

By: Bloomberg     17th January 2017 If you think the new year is a time of optimism and hope for the future, then you haven’t been watching gold. Bullion has risen every day except one in 2017, evidence that investors are pricing in a rocky year ahead. UK Prime Minister Theresa May confirmed Tuesday that she’ll leave the European... 

Acacia jumps in London on $4bn Endeavour merger talks

By: Bloomberg     17th January 2017 Acacia Mining jumped to the highest in almost two months after the gold miner confirmed it is in early-stage talks with rival Africa-focused producer Endeavour Mining Corp. about a possible merger of the two companies which have a combined value of about $4-billion. Acacia, which mines the... 

Exxaro concludes R3.6bn share repurchase scheme

By: Natasha Odendaal     17th January 2017 JSE-listed Exxaro on Tuesday said all conditions precedent to the specific repurchase of shares from its black economic empowerment (BEE) partner Main Street 333 (MS333) have been met. Exxaro will acquire nearly 44-million ordinary shares from MS333 in a deal valued at around R3.5-billion. 

Rio Tinto hits 2016 production target, keeps 2017 guidance

By: Esmarie Swanepoel     17th January 2017 Mining giant Rio Tinto has delivered a strong production quarter in the three months to December, helping the group to achieve its targeted iron-ore shipments for 2016. Australia’s largest iron-ore miner produced 85.5-million tonnes in the fourth quarter, taking 2016’s production to 329.5-million... 

Rio Tinto hits 2016 production target, keeps 2017 guidance
Rio Tinto CEO Jean-Sebastien Jacques

Alecto raises £1m to restart Mowana mine

By: Anine Kilian     17th January 2017 Aim-listed Alecto Minerals has raised £1-million through the issue of convertible loan notes to restart operations at its newly acquired Mowana copper mine, in Botswana. Alecto in December announced that it would acquire Cradle Arc Investments, which owns the Mowana mine, for about £6.72-million... 

Base reports higher mining volumes at Kenya mine, updates FY17 guidance

By: Esmarie Swanepoel     17th January 2017 Mineral sands miner Base Resources reported a strong operational performance at its Kwale project, in Kenya, with the mine producing a record three-million tonnes of ore on the back of the successful commissioning of a 400 t/h hydraulic mining unit. Combined with the existing dozer trap mining... 

Galileo to start Concordia drill programme

By: Natasha Odendaal     17th January 2017 Aim-listed Galileo Resources plans to start a drilling programme at its Concordia copper project, in the Northern Cape, during the first quarter of 2017. This follows the exploration and development mining company’s consolidation of the final geophysics data reports by consultants GeoSpec... 

Govt officials endorse development of DRC tin project

By: Anine Kilian     17th January 2017 Government officials from the North Kivu province in the Democratic Republic of Congo (DRC) have endorsed the development of Alphamin Resources’ 10 000 t/y Bisie tin project. Construction on the project is expected to begin in the first quarter of this year, with the mine to reach full production... 

Vector reports maiden resource at DRC gold prospect

By: Esmarie Swanepoel     17th January 2017 ASX-listed junior Vector Resources has reported a maiden inferred Joint Ore Reserves Committee-compliant resource of 6.96-million tonnes at its Kabotshome gold prospect, in the Democratic Republic of Congo. Grading 1.9 g/t gold, the prospect, which forms part of the greater Maniema gold project,... 

Ghana's 2017 gold production off to a strong start

By: Anine Kilian     17th January 2017 Ghana's gold sector has had a strong start this year, owing to the start of gold production at a new mine, rising gold prices and a favourable investment environment, Fitch-affiliated market analyst BMI Research said on Tuesday. “We expect the steady growth rate of the country's gold output to... 

Ongoing exploration to further boost Atalaya copper output

By: Megan van Wyngaardt     17th January 2017 Dual-listed Atalaya Mining produced 26 179 t of copper in 2016, in line with its guidance, boosted by average copper recoveries of 83.29% at its 100%-owned Proyecto Riotinto mine in Andalucía, Spain. The miner on Tuesday reported that it had produced 8 938 t of copper in the last quarter of the... 

Israeli official opposes extension to ICL's Dead Sea mining permit

By: Reuters     17th January 2017 Israel Chemicals' (ICL's) permit to mine in the Dead Sea should not be extended when it expires in 2030 but instead the rights should be put up for sale by tender, a senior Finance Ministry official recommended on Tuesday. "Holding a tender is the correct way to maximise the public's share of the... 

Peru economy grew 3.22% year-on-year in Nov – govt

By: Reuters     Updated 3 hours ago Peru's economy grew by 3.22% in November from the same month a year ago, beating expectations, with strength in sectors including mining and manufacturing outweighing a slide in construction, government data showed on Monday. The annualised economic growth rate was 4.14% in November, state... 

Strike ends at Yamana Gold's El Peñón mine, union says

By: Reuters     Updated 3 hours ago Striking workers at Yamana Gold's El Peñón mine, in Chile, have reached a wage agreement with the Canadian miner, allowing for the mine to reopen on Wednesday, a union leader said on Tuesday. "We just ended the strike today after signing a contract for four years and we will start working again... 

Exploration partners Nevada Sunrise, Advantage start Phase 2 exploration at Clayton NE

By: Henry Lazenby     Updated 3 hours ago Following the successful first phase of exploration drilling at the prospective Clayton NE lithium property, in Nevada, exploration partners Nevada Sunrise Gold and option holder Advantage lithium have started a second phase of drilling on the property. Located next to North America’s only... 

First Majestic sees lower 2017 output as it prepares for 2018 growth and beyond

By: Henry Lazenby     Updated 3 hours ago Precious metals producer First Majestic Silver expects to produce about 6% less gold this year than in 2016, as it prepares for significant production growth in 2018 and beyond, the company said Tuesday. During 2016, the Vancouver-headquartered miner produced a new record of 18.7-million... 

Despite further expected delay to RoF development, Noront exploration guns for gold

By: Henry Lazenby     Updated 3 hours ago Despite reporting progress being made with discussions between stakeholders, the largest landholder in the emerging Ring of Fire (Rof) mining camp of Northern Ontario Noront Resources said Tuesday it expects further delay to development of its cornerstone Eagle’s Nest mine. The precious and base... 

Ontario’s costly coal phase-out had little effect on reducing air pollution – Fraser Institute

By: Henry Lazenby     Updated 4 hours ago Ontario’s misadventures in energy policy formulation holds a critical cautionary tale for the federal government’s plans to phase out coal-fired power generation by 2030. Closing Ontario's coal-fired power plants had a negligible effect on reducing air pollution, helped fuel skyrocketing energy... 

UBC researchers develop flowsheet for LED bulb recycling

By: Henry Lazenby     Updated 4 hours ago Researchers at the University of British Columbia (UBC) have developed a flowsheet to successfully extract copper, lead, zinc, silver and small amounts of rare earth metals including lutetium, cerium and europium, as well as the ‘technology metals’ gallium and indium from discarded light-emitting... 

UBC researchers develop flowsheet for LED bulb recycling
Photo by University of British Columbia
Mineral processing engineer Maria Holuszko and her PhD student Amit Kumar

Argonaut FY 2016 output beats revised lower guidance

By: Henry Lazenby     17th January 2017 Mexico-focused gold producer Argonaut Gold has beaten its revised lower guidance ranging between 115 000 gold-equivalent ounces (GEOs) to 120 000 GEOs for the full-year 2016, producing 122 097 GEOs for the twelve-month period. Production at the El Castillo normalised during the fourth quarter... 

Gold miner Goldcorp details growth plan, shares rise

By: Reuters     17th January 2017 The world's biggest gold miners should partner to share the financial and other risks of developing large gold deposits, the chief executive of Goldcorp, the world's third biggest gold miner by market value, said on Tuesday. The gold mining industry "risks irrelevance" if it is not able to find... 

Gold miner Goldcorp details growth plan, shares rise
Photo by Bloomberg
Goldcorp CEO David Garofalo

Cerrejon's Colombia coal exports, output fall in 2016

By: Reuters     17th January 2017 Output and exports of coal by Cerrejon, Colombia's biggest coal producer, fell in 2016 for the second straight year, the company said on Tuesday. Production reached 32-million tonnes, down 3.6% from the previous year when output was 33.2-million tonnes. Cerrejon did not provide a reason for the... 

Chile to invite bids on value-added lithium tech in April

By: Reuters     17th January 2017 Chile will hold a tender in April to encourage companies to use its vast lithium resources to move it up the value chain with cathode or battery production, the head of the country's development agency told Reuters on Tuesday. It is pressing ahead on deals with international firms as relations... 

Chile to invite bids on value-added lithium tech in April

Gold Road earmarks A$22m for exploration, including A$5m for Gruyere JV

By: Esmarie Swanepoel     17th January 2017 ASX-listed Gold Road Resources has set aside up to A$22-million to focus on exploration in the Yamarna belt, in Western Australia. The company plans to spend between A$12-million and A$15-million on exploration in its North Yamarna tenements, while more than A$5-million will be spent to further... 

Indonesia may issue new tax rules for mineral exports next week – official

By: Reuters     17th January 2017 Indonesia may issue new tax rules for mineral exports next week, a Finance Ministry official said on Tuesday, after discussions with the Energy and Mineral Resources Ministry, which recently changed rules on domestic mineral processing. "We want the export duties to push domestic processing.... 

Western Australia approves Cameco uranium mine for development

By: Esmarie Swanepoel     17th January 2017 The Western Australian government has approved Canada-based uranium major Cameco’s Yeelirrie uranium project, subject to 17 conditions. Considered one of Australia's largest undeveloped uranium deposits, the Yeelirrie project has an estimated resource of 127.3-million pounds.  Cameco is proposing... 

Anti-iron-ore-tax campaign blazes a trail – CME

By: Esmarie Swanepoel     17th January 2017 The Western Australian Chamber of Minerals and Energy (CME) is revelling in the success of its anti-mining-tax campaign, after recent polling showed that support for the proposed iron-ore tax has dropped from nearly 50% to 34.8%. The CME in November launched a campaign to stop the Western... 

Fortescue appoints new CFO

By: Esmarie Swanepoel     17th January 2017 Iron-ore major Fortescue Metals has appointed Elizabeth Gaines to the position of CFO, replacing Stephen Pearce, who will join diversified miner Anglo American on January 30. Gaines will take up the position of CFO from February 6. 

S Australian magnetite consortium signs Chinese offtake deal

By: Esmarie Swanepoel     17th January 2017 The South Australian Magnetite Consortium, which consists of ASX-listed Magnetite Mines and Lodestone Equities, has signed a sale and purchase letter of intent (LoI) with Chinese company Ningbo Iron & Steel for the purchase of one-million tonnes a year of iron-ore concentrate. Ningbo will... 

White Rock launches DFS at Mt Carrington

By: Esmarie Swanepoel     17th January 2017 Metals hopeful White Rock Minerals has launched a definitive feasibility study (DFS) and environmental-impact statement (EIS) at its Mt Carrington gold/silver project, in New South Wales. White Rock MD and CEO Matt Gill said on Tuesday that initial priorities would be on community consultation... 

Goldcorp FY16 output down as altered strategy aligns major for better future yields

By: Henry Lazenby     17th January 2017 The adage ‘What you lose on the swings, you make up for on the roundabouts’ could probably be said of major precious metals miner Goldcorp, after it announced a 17% year-on-year drop in gold output during 2016, to 2.87-million ounces. Despite the 2017 guidance calling for even less output,... 

MAC’s TSM initiative emerges as proven mining sustainability standard

By: Henry Lazenby     17th January 2017 The Mining Association of Canada (MAC) has released its twelfth yearly ‘Towards Sustainable Mining’ (TSM) progress report, highlighting the significant impact the initiative has had over the years to foster sustainability practices among its members. According to the MAC, Vancouver-based... 

‘No better time in commodity cycle to get into copper/gold’ – Broadway chair

By: Henry Lazenby     17th January 2017 There is no better time in the commodity price cycle to get into the copper/gold space than the present, says Montana-focused project developer Broadway Gold chairperson Duane Parnham. Speaking to Mining Weekly Online during an interview, the mining veteran pointed out that an analysis of the... 

‘No better time in commodity cycle to get into copper/gold’ – Broadway chair
Photo by Duane Daws
Broadway Gold chairperson Duane Parnham

Vale loads first iron-ore shipment from giant new S11D mine

By: Henry Lazenby     16th January 2017 The world’s biggest iron-ore miner, Vale, has loaded the first ore from its largest-ever mine, the S11D project, in Canaã dos Carajás, south-east of Pará, at the Ponta de Madeira docks. On Friday, Vale loaded its first 26 500 t of commercial ore produced at the $14.4-billion mine in Brazil,... 

Vale loads first iron-ore shipment from giant new S11D mine
Photo by Vale
Ponta da Madeira loads first ships including cargo produced in S11D mine

Iron-ore opens 2017 with a bang after flaying skeptics last year

By: Reuters     16th January 2017 Iron-ore has carried last year’s bullish momentum into the start of 2017, with prices rallying to a two-year high amid speculation that China’s demand for overseas ore will hold up even as the world’s largest miners bring on new capacity. Ore with 62% content in Qingdao in China climbed 3.9% to... 

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