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South Africa's AMCU union rejects wage hike from gold producers – spokesperson

By: Reuters     Updated 2 hours 16 minutes ago Members of South Africa's Association of Mineworkers and Construction Union (AMCU) on Sunday rejected a wage offer from gold producers of increases of up to 17%, spokesperson Manzini Zungu said. Gold firms Sibanye Gold and AngloGold Ashanti last week offered an additional R1 000 rand ($80) a... 

South Africa's AMCU union rejects wage hike from gold producers – spokesperson

Zambian villagers to take on mining firm Vedanta in UK court

By: Reuters     Updated 2 hours 18 minutes ago British mining company Vedanta Resources faces legal action in London's High Court after a group of Zambian villagers said their water source and farmland was polluted by the firm's copper mining operations. Vedanta owns a 79.4% stake in Zambia's Konkola Copper Mines, which was also named by... 

Canada's First Quantum Minerals to lay off 1 480 workers in Zambia

By: Reuters     Updated 2 hours 5 minutes ago Canada's First Quantum Minerals will lay off about 1 480 workers at one of its Zambian copper projects after a reduction in its power supply curbed production, the company's local subsidiary said on Sunday. "Regrettably a reduction of approximately 1 480 construction jobs will be brought forward... 

Gold struggles after worst month in two years

By: Reuters     Updated 1 hour 20 minutes ago Gold steadied not far above a 5-1/2-year low on Monday, struggling to scale higher at the start of the month after its deepest loss in two years in July, as expectations for a near-term hike in US interest rates kept sellers nearby. Gold's rout deepened last month as the dollar strengthened after... 

Syrah raises A$211m to fund Balama construction

By: Esmarie Swanepoel     Updated 7 hours ago Graphite developer Syrah Resources on Monday announced a A$211-million capital raise to fund the development of its Balama project, in Mozambique. The company would raise the funds through an institutional placement and pro rata renounceable entitlement offer, which have both been fully... 

Lonmin reports fatality at JV Pandora E3 shaft

By: Creamer Media Reporter      Updated 12 minutes ago A winch driver, who was injured in a scrapping and rigging accident at the Pandora E3 shaft in May, died of his injuries on Friday. Bonisile Mapango had spent the last two months in the intensive care unit of a hospital. 

Edenville raises £250 000 for Rukwa

By: Megan van Wyngaardt     Updated 2 hours 3 minutes ago Aim-listed Edenville Energy placed 500-million new ordinary shares of 0.02p apiece to raise funds to complete the mining licence application process for its Rukwa coal project, in Tanzania, as well as moving discussions with interested partnership groups forward. The company also placed... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) signalled on Friday that it was aiming to reopen historically fraught iron-ore pricing negotiations with Kumba Iron Ore, with CEO Paul O’Flaherty describing the current cost-plus arrangement as unsustainable in light of dramatic declines in... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba
Photo by Duane Daws
ArcelorMittal South Africa CEO Paul O’Flaherty

‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

By: Terence Creamer Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for used public infrastructure... 

‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

Lace underground tunnel development slower than planned

By: Megan van Wyngaardt Underground tunnel development at Southern Africa-focused diamond developer DiamondCorp’s Lace diamond mine, in the Free State, is proceeding slower than planned, owing to fractured ground close to old workings; however, the development work in the Upper K4 (UK4) block remains close to schedule... 

Peak Resources sees bright future for Tanzania magnet metals project

By: Chanel de Bruyn A focus on high-value rare earths and the use of a tailor-made beneficiation process bodes well for Tanzania-focused Peak Resources. The ASX-listed company is developing the Ngualla rare earths project, which contains high-grade neodymium and praseodymium mineralisation. 

Peak Resources sees bright future for Tanzania magnet metals project

Lower costs, higher sales lift Endeavour’s Q2 profit

By: Henry Lazenby West Africa-focused gold producer Endeavour Mining has increased its second-quarter profit on the back of sharply lower costs and record output, despite a lower average realised price for the yellow metal. The Vancouver-based company with four operating gold mines in Côte d’Ivoire, Ghana, Mali... 

PotashCorp remains resolute to buy German rival, pares outlook

By: Henry Lazenby Canada’s Potash Corporation of Saskatchewan (PotashCorp) has reiterated its intentions to buy German rival K+S, saying it is prepared to make binding commitments to motivate its target’s management, which has so far rebuffed the unsolicited offer.  PotashCorp president and CEO Jochen Tilk told... 

PotashCorp remains resolute to buy German rival, pares outlook

India’s Supreme Court orders auction of 15 Karnataka iron-ore mines

By: Ajoy K Das     Updated 4 hours ago India’s Supreme Court has directed that 15 iron-ore mines in the southern province of Karnataka will have to be put up for auction and the process completed within the next 32 weeks. The apex court order would impact even those mines that had been brought back into production in 2013 after the... 

Now is the right time for S2 – Bennett

By: Esmarie Swanepoel     Updated 4 hours ago Takeover target Sirius Resources’ MD and CEO Mark Bennett on Monday said there was definite opportunity to expand the project portfolio of the demerged S2 Resources, following a merger of Sirius and fellow-listed Independence Group. Metals miner Independence Group in May announced plans to merge... 

Now is the right time for S2 – Bennett
Photo by Bloombeg
Sirius CEO Mark Bennett

Newmont looks to extend KCGM mine life

By: Esmarie Swanepoel     Updated 4 hours ago Gold miner Newmont Mining on Monday said it was working to extend the mine life of its Kalgoorlie operations, in Western Australia. Speaking at the first day of the Diggers & Dealers conference, senior VP for the Asia Pacific region Tom Palmer noted that Newmont’s focus was on the management... 

Panoramic changes Lanfranchi plans, dismisses staff

By: Esmarie Swanepoel     Updated 7 hours ago Nickel miner Panoramic Resources has suspended mining at its Deacon orebody, within the Lanfranchi operations, in Western Australia, following an earlier seismic activity. Mining from the Deacon orebody was expected to decline in 2016 as the orebody was depleted; however, Panoramic took the... 

Straits details refinancing deal

By: Esmarie Swanepoel Copper developer Straits Resources has inked a binding agreement with lender Standard Chartered Bank (SCB) and Asian investment firm PAG subsidiary PAG SPV to restructure its debt. Under the terms of the agreement, Straits’ $111-million outstanding debt with SCB would be reduced by more than 50%... 

Giorgetta calls on miners to educate communities on resource benefits

By: Esmarie Swanepoel Diggers & Dealers forum chairperson Nick Giorgetta has called on the Australian mining industry to educate the broader community on the positive contribution being made by mining, in order to influence policymakers. Speaking on the first day of the Diggers & Dealers conference, Giorgetta noted... 

Gold Road picks a development option for Gruyere

By: Esmarie Swanepoel The Stage 1 prefeasibilty study (PFS) into the Gruyere gold project, in Western Australia, has selected a 7.5-million-tonne-a-year throughput rate as the most effective, giving the project a potential mine life of 10 to 15 years. The Stage 1 PFS also identified a gas-fired power generation plant... 

WA's miners see 290% growth in last 15 years - Deloitte

Over the last 15 years, the value of Western Australia’s top 100 listed companies has grown by 290%, to some A$131.9-billion, advisory firm Deloitte reported on Monday. Ahead of the annual Diggers & Dealers conference, Deloitte released its 15th anniversary edition of the Western Australian... 

MacLeod new Canada-Nova Scotia Offshore Petroleum Board chairperson

By: Henry Lazenby Onshore and offshore oil and gas industry veteran Roderick Keith MacLeod has been appointed the new chairperson for the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB), which is responsible for the regulation of petroleum activities in the Nova Scotia offshore area. Canada’s Minister of... 

Nevsun lowers 2015 guidance

By: Natasha Odendaal TSX- and NYSE-listed Nevsun Resources on Friday revised its 2015 production guidance downwards to 140-million to 150-million pounds of copper owing to unplanned plant stoppages during the first half of the year. Output from the Vancouver-headquartered firm’s Bisha mine, in Eritrea, had been hit... 

Mining boom bolsters explosives, chemicals markets – research firm

By: Megan van Wyngaardt The rapid growth of Africa’s mining industry, and particularly in Central Africa, is being mirrored in the mining explosives and chemicals market, research firm Frost & Sullivan reports. Through new analysis, the firm has found that almost 65% of major and minor mining firms in the region... 

SocGen says miners' output costs have dropped more than expected

By: Reuters Miners' output costs have dropped more than industry consensus due to lower energy prices and weak emerging market currencies, a report by Societe Generale showed, suggesting metals prices have further to fall before miners are forced out of business. The prices of many metals are still around... 

Gold miners expect feedback on final wage offer by next week

By: Megan van Wyngaardt Representative unions in the gold mining industry – the Associations of Mineworkers and Construction Union, the National Union of Mineworkers, Solidarity and UASA – are expected to revert back to the Chamber of Mines (CoM) in the next week, on whether their members accept gold producers’ final... 

Gold miners expect feedback on final wage offer by next week

Mashile-Nkosi chosen as business leader of the year

By: Natasha Odendaal Kalagadi Manganese executive chairperson Daphne Mashile-Nkosi has been recognised for her business acumen and ability to execute successful business strategies. She was this week bestowed the 2015 Africa Female Business Leader of the Year Award and a special commendation award by Pan-African... 

Newmont evaluates increased output at Tanami

By: Esmarie Swanepoel Gold miner Newmont Mining will reach a decision on the possible expansion of its Tanami operation later this year. Newmont’s Asia Pacific leader Tom Palmer told the WA Mining Club this week that the company’s Full Potential programme had seen a 22% increase in production at Tanami, and reduced... 

South Africa's ArcelorMittal reports wider H1 loss

By: Reuters Africa's largest steelmaker ArcelorMittal South Africa said on Friday its half-year losses widened amid lower international demand and a weak economy in its home market. Its headline loss per share rose to nearly 25 cents per share for the six months ended 30 June from 2 cents a year earlier, the... 

South Africa's ArcelorMittal reports wider H1 loss
Photo by Duane Daws
Newcastle Works

Kipoi debottlenecking to raise output to 32 500 t/y

By: Esmarie Swanepoel A study for the debottlenecking of the Kipoi solvent extraction and electrowinning (SX-EW) plant, in the Democratic Republic of Congo, has revealed that copper production could be increased from the nameplate capacity of 25 000 t/y to 32 500 t/y. Project owner Tiger Resources on Friday said the... 

RNI shares rise on WA gold asset sale news

By: Esmarie Swanepoel The share price of ASX-listed RNI increased by 60% on Friday as the company announced plans to sell its Western Australian gold assets to fellow-listed Metals X. The two parties have executed a binding heads of agreement under which RNI would divest of its Grosvenor, Horseshoe and part of its... 

RNI shares rise on WA gold asset sale news

ERA H1 loss widens

By: Esmarie Swanepoel Uranium miner Energy Resources of Australia (ERA) has reported a net loss of $255.3-million for the six months ended June 30, owing to a $197-million impairment charge. ERA had previously warned shareholders of the massive write-off, following the deferral of the Ranger 3 Deeps underground... 

A$970m needed for Mt Peake development

By: Esmarie Swanepoel A definitive feasibility study (DFS) into the Mt Peake vanadium-titanium-iron project, in the Northern Territory, has attached a capital cost of A$970-million to develop the project. ASX-listed TNG on Friday said the Mt Peake project would generate a pretax internal rate of return of 41%, a... 

Anglo American signs power option at Grosvenor

By: Esmarie Swanepoel ASX-listed Energy Development has inked an agreement with mining major Anglo American for the development of a waste coal mine gas power station at the Grosvenor metallurgical coal mine, in Queensland. Grosvenor is Anglo American’s $1.9-billion flagship underground longwall mine, which will... 

Teranga sees gold production increase

By: Esmarie Swanepoel Gold miner Teranga Gold Corporation has reported a 24% increase in production from its Sabadola gold mine, in Senegal, for the three months to June. Gold production reached 49 392 oz, compared with the 48 643 oz produced in the March quarter. 

Chatree delivers for Kingsgate

By: Esmarie Swanepoel Gold miner Kingsgate Consolidated has reported higher production of 55 601 oz for the three months to June 30, compared with the 34 538 oz produced in the previous quarter. The higher output was owing to its Chatree mine, in Thailand, having resumed operations in March after a temporary... 

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