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Remove exploration red tape or mining will die, geologist warns 

By: Martin Creamer     19th October 2017 The excessive red tape around minerals exploration must be removed to prevent the demise of South Africa’s vital mining industry, consulting exploration geologist Allan Saad said on Thursday. Saad, who spent 18 years in geological roles with mining major Rio Tinto and who formerly represented the... 

Consulting exploration geologist Allan Saad outlines current exploration constraints to Mining Weekly Online’s Martin Creamer. Photographs: Christo Greyling. Video and Video Editing: Nicholas Boyd.

AngloGold Ashanti sells Moab Khotsong to Harmony; Kopanang to Heaven-Sent

By: Natasha Odendaal     19th October 2017 JSE-listed AngloGold Ashanti has disposed of its various South African gold and uranium mining assets in the Vaal river region to Harmony Gold Mining for $300-million. The transaction comprised the Moab Khotsong mine, the Great Noligwa mine and related infrastructure; AngloGold Ashanti’s entire... 

AngloGold Ashanti sells Moab Khotsong to Harmony; Kopanang to Heaven-Sent
Moab Khotsong

Barrick Gold to give Tanzania mines stake and $300m to end dispute

By: Reuters     19th October 2017 Barrick Gold will give Tanzania a 16% stake in three gold mines, a 50% share of revenues from those mines and a one-off payment of $300-million to resolve a dispute that has hit its operations in the country, the two sides said. The Canadian miner and the Tanzanian government have been in talks... 

Barrick Gold to give Tanzania mines stake and $300m to end dispute

South32 bolsters net cash to $1.7bn, reports solid Q1 results

By: Esmarie Swanepoel     19th October 2017 Diversified miner South32 on Thursday reported its financial and operational results for the first quarter of the 2018 financial year, telling shareholders that stronger commodity markets had delivered a $33-million increase in its net cash position. “Our key commodity markets continue to... 

South32 bolsters net cash to $1.7bn, reports solid Q1 results
Photo by Bloomberg
South32 CEO Graham Kerr

Shanta expects new strategy to bolster future quarters

By: Natasha Odendaal     19th October 2017 Aim-listed Shanta Gold expects to deliver a stronger operational and financial performance during the next few quarters as it shifts into a new strategy of improving profitability and reducing debt following legislative changes in Tanzania. The East Africa-focused gold producer, developer and... 

Miner defends Western Cape phosphate project, highlights its importance

By: Ilan Solomons     19th October 2017 Emerging miner Kropz has warned that the West Coast Environmental Protection Association’s (WCEPA’s) application to have the water-use license (WUL) for Kropz’s Elandsfontein phosphate mine, near Saldanha Bay, in the Western Cape, suspended, would, if successful, cause “irreversible environmental... 

Miner defends Western Cape phosphate project, highlights its importance

RBPlat drops Gupta-linked contractor

By: Reuters     19th October 2017 South African platinum producer Royal Bafokeng Platinum said on Thursday it was dropping the services of contractor JIC Mining Services, majority owned by Oakbay Investments, the main company operated by the Gupta family. RBPlat, a black-owned midtier producer of the precious metal, is the latest... 

Sixth death in platinum belt in three months

By: News24Wire      19th October 2017 British platinum mine giant Lonmin has raised "deep concerns" following the death of employee Tholakele Dlunga this week, the sixth in the platinum belt in the North West in the past three months. "Lonmin is deeply concerned by the recent fatal shootings across the platinum belt. The company is... 

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

BHP's chairperson holds first annual meeting, plans to review board
BHP chairperson Ken Mackenzie

BHP told bending to activists poses risks for debt investors

By: Bloomberg     19th October 2017 BHP Billiton’s new chairman Ken MacKenzie is grappling with a simmering campaign by activist shareholders -- moving too far to appease them could risk unsettling debt investors who own the world’s biggest miner’s $24-billion of bonds. The campaign by funds including billionaire Paul Singer’s... 

BHP told bending to activists poses risks for debt investors
BHP new chairperson Ken Mackenzie

Outa accuses Eskom consultants of ‘gambling’ with public money

By: Kim Cloete     19th October 2017 The Organisation Undoing Tax Abuse (Outa) has alleged that Eskom consultants Trillian Capital Partners have been “dabbling” in derivatives and losing billions of rands in the process. “Trillian has been dabbling in derivatives with our public money, racking up losses of R27-billion,” Outa... 

Outa accuses Eskom consultants of ‘gambling’ with public money
Photo by Duane Daws
Ted Blom

FBI opens investigation into South Africa's Guptas – FT

By: Reuters     19th October 2017 The FBI has opened an investigation into US links to South Africa's Guptas, escalating a scandal over the family's alleged use of a friendship with President Jacob Zuma to control state businesses, the Financial Times said on Thursday. Separately, Britain's banking regulator, the Financial... 

FBI opens investigation into South Africa's Guptas – FT
Photo by Duane Daws
Atul Gupta

Insimbi’s H1 earnings rise

By: Anine Kilian     19th October 2017 JSE-listed Insimbi Refractory and Alloys’ earnings before interest, taxes, depreciation and amortisation increased by 273% year-on-year to R179.8-million for the six months ended August 31. Earnings a share were up by 142% year-on-year to 11.97c and headline earnings a share increased by 150%... 

South African court revokes shale gas regulations – AgriSA

By: Reuters     19th October 2017 South Africa's High Court has quashed regulations governing proposed shale gas fracking, farmers lobby AgriSA said on Thursday after taking the government to court to stop fracking in the Eastern Cape province. The ruling marks the latest setback to South Africa's shale gas ambitions after a... 

China's Jiangxi Copper has plans for M&A in Africa – chairperson

By: Reuters     19th October 2017 State-owned China metals firm Jiangxi Copper plans to make an acquisition in mineral-rich Africa, president and chairperson Long Ziping said, as the country's top integrated copper producer aims to step up overseas expansion. Long, appointed chairperson last month, didn't identify potential... 

Samarco extends temporary suspension of 800 employees for 5 months

By: Reuters     19th October 2017 Miner Samarco, a joint venture between Vale SA and BHP Billiton, said on Wednesday it has decided along with unions to extend the temporary suspension of 800 employees for five months to March 31, 2018. The layoff period began on June 1 and was to end on November 1. 

Eskom’s new R174bn grid plan includes R18bn for IPP connections

By: Terence Creamer     19th October 2017 State-owned electricity utility Eskom says all connection costs relating to 27 outstanding renewable-energy projects have been included in its latest Transmission Development Plan (TDP), which covers the ten-year period from 2018 to 2027. The renewable-energy projects were legally procured in... 

Eskom’s new R174bn grid plan includes R18bn for IPP connections

Brazil's Vale reports record iron-ore output in Q3

By: Reuters     19th October 2017 Brazil's Vale SA, the world's largest iron ore producer, said on Thursday its production in the third quarter hit a fresh quarterly record, boosted by a ramp-up at its S11D mine. Iron ore output rose 3.3 percent compared with the same period last year to 95.1 million tonnes, the company said,... 

Blame game on over supposed coal shortage in India

By: Ajoy K Das     19th October 2017 In a blame game over a supposed coal shortage in the country, India’s Coal Ministry has fingered thermal power companies for their failure to follow procedures and a lack of efficient inventory management, while demanding more supplies of dry fuel. The Coal Ministry has claimed that it has been... 

Resources Watch  

     19th October 2017 This week: South African mining rights application process open to corruption And, South Africa should consider agromining 

Resources Watch

Jiangxi Special Electric plans to take stake in Australian lithium miner

By: Reuters     19th October 2017 China's Jiangxi Special Electric Motor said on Thursday it planned to buy a stake in an Australian lithium mining and exploration company, the latest electric vehicle company to scoop up supplies of raw materials. Jiangxi, which makes electric vehicles and lithium batteries, said its German... 

Polyus delivers record production in Q3

By: Natasha Odendaal     19th October 2017 Russia’s largest gold producer Polyus has achieved another record quarter, with production rising 16% year-on-year to 642 000 oz during the three months to September 30. “The third quarter of 2017 marked yet another quarter of operational improvements and a constant drive to discover the full... 

Polyus delivers record production in Q3
The Natalka gold mine

Teck concludes acquisition of Goldcorp’s 21% minority share in San Nicolas

By: Samantha Herbst     19th October 2017 TSX- and NYSE-listed senior gold producer Goldcorp has completed the $50-million sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico to Canadian diversified miner Teck Resources. The closing follows receipt of Mexican anti-trust approval and the... 

Tertiary has eye on ‘near-revenue generating’ fluorspar project

By: Mariaan Webb     19th October 2017 Aim-traded Tertiary is in “advanced discussions” to acquire a new fluorspar project, which will add to its existing fluorspar assets in Sweden, Norway and the US. The company did not disclose where the project is located, but said that a technical due diligence was under way and that further... 

Connemara boosts Wicklow gold project with acquisition of prospecting licences

By: Mariaan Webb     19th October 2017 Irish exploration company Connemara has acquired 17 existing prospecting licences in Ireland from a company that was formed by the late Dale Hendrick, who was renowned in gold exploration. The company acquired control of 12 existing HRI prospecting licences for a royalty agreement comprising a... 

Galantas acquiring new equipment for Omagh

By: Mariaan Webb     19th October 2017 Aim- and TSX-V-listed Galantas Gold has made good progress with the development of an underground mine at Omagh, in county Tyrone, Northern Ireland, and is now looking at acquiring new equipment to speed up its development rate. The company reported on Thursday that development had been advanced... 

Lundin Gold ramping up Ecuador project

By: Anine Kilian     19th October 2017 Moving forward with the engineering and procurement of the process plant for its Fruta del Norte gold project, in Ecuado, TSX-listed Lundin Gold has ordered long-lead time process plant equipment, with process plant detailed engineering expected to be completed in the fourth quarter of 2018.... 

Horizonte Minerals files mine construction licence for Araguaia project

By: Anine Kilian     19th October 2017 Aim- and TSX-listed Horizonte Minerals has completed and filed a mine construction licence application for its Brazil-based Araguaia nickel project, marking a major milestone for the project as it moves towards a decision on construction, said CEO Jeremy Martin in a statement released Thursday.... 

Brazil miner Vale seals share conversion, elects new board members

By: Reuters     19th October 2017 The remaining preferred shareholders of Brazil's Vale SA on Wednesday voted to accept a plan obliging them to convert their shares into a single stock class, finalizing a process that is part of the miner's bid to improve corporate governance. The move was approved by the remaining preferential... 

Angola is not the next Venezuela, state oil firm says as it cuts debt

By: Reuters     19th October 2017 Angola is not the next Venezuela, the head of State oil firm Sonangol said on Wednesday while pledging to further cut debt, even if both oil-rich nations have relied heavily on loans from China. Venezuela, the Latin American oil behemoth, has found itself struggling to repay debts to China and... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

Chile's Cochilco boosts copper forecast to near $3/lb in 2018

By: Reuters     19th October 2017 Chile State copper commission Cochilco forecasted on Wednesday an average global copper price of $2.95/lb in 2018, a sharp upward revision from its mid-year estimate of $2.68, due to greater demand in China, a key market. For 2017, it predicted an average copper price of $2.77/lb, markedly higher... 

Chile's Cochilco boosts copper forecast to near $3/lb in 2018

Urgent need for exploration, junior culture in resources sector – Bristow  

     19th October 2017 Resources consultant Dr John Bristow recently warned that there was an urgent need to explore, develop and instil a junior culture in South Africa’s resources sector. Mining Weekly editor Martin Creamer recently spoke with Dr Bristow and sits down with Creamer Media's Sashnee Moodley to talk... 

Urgent need for exploration, junior culture in resources sector – Bristow

Santos upgrades full-year expectations

By: Esmarie Swanepoel     19th October 2017 Oil and gas major Santos has increased its full-year production expectations following another stellar quarter of production. Santos on Thursday upgraded its 2017 sales volume guidance from between 77-million and 82-million barrels of oil equivalent, to between 79-million and 82-million barrels... 

Sandfire holds steady in September quarter

By: Esmarie Swanepoel     19th October 2017 Copper/gold miner Sandfire Resources has reported a slight decline in copper production for the three months to September, compared with the June quarter, following planned maintenance shutdowns at its DeGrussa mill, in Western Australia. Copper production for the quarter under review reached 15... 

Sheffield to spin-out gold and base metal assets

By: Esmarie Swanepoel     19th October 2017 Mineral sands developer Sheffield Resources has announced plans to demerge its gold and base metals assets into an ASX-listed company. The assets, which are currently held by subsidiary Carawine Resources, include the Jamieson gold-copper-silver-zinc project, in Victoria, and the Oakover and... 

Dugald River zinc project likely to come in 8% under budget – MMG

By: Esmarie Swanepoel     19th October 2017 Metals miner MMG on Thursday reported that its Dugald River zinc project, in Queensland, was likely to come in under budget. The company told shareholders that total capital costs to completion was now expected to be between $550-million to $570-million, compared with a previous guidance of... 

Cu-River unveils A$800m Cairn Hill magnetite expansion

By: Esmarie Swanepoel     19th October 2017 Privately held Cu-River Mining Australia has announced an A$800-million expansion of the Cairn Hill magnetite mine, in South Australia. The investment would triple current magnetite production initially to three-million tonnes a year, and then up to 15-million tonnes a year by 2021, creating up... 

Cu-River unveils A$800m Cairn Hill magnetite expansion

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