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Gold Fields invests $1.4bn to extend Damang’s life-of-mine 

By: David Oliveira     24th October 2016 Gold Fields will invest $1.4-billion to extend the life of its Ghana-based Damang mine from 2017 to 2024. Over the life of the mine, a total of 165-million tons will be mined at Damang, with 32-million tons processed at a grade of 1.65 g/t, resulting in total gold production of 1.56-million ounces. 

Gold Fields CEO Nick Holland and Gold Fields West Africa head Alfred Baku discuss the reinvestment plan for the Damang mine

De Beers spending more on South African diamond exploration 

By: Martin Creamer     Updated 5 hours ago Diamond mining company De Beers Consolidated Mines (DBCM) is spending more on exploration as it searches for a new diamond mine to augment its two existing South African diamond mines – Venetia, in Limpopo province, and Voorspoed, in the Free State. DBCM CEO Phillip Barton, who spoke to Mining... 

De Beers Consolidated Diamond Mines CEO Phillip Barton tells Mining Weekly Online’s Martin Creamer that the company’s exploration budget has been increased. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Petra achieves 1.1Mct output in Q1

By: Natasha Odendaal     Updated 7 hours ago LSE-listed Petra Diamonds has reported a strong start to the 2017 financial year, achieving a double-digit surge in diamond output and higher revenue for the three months to September 30. Petra on Monday reported a 30% jump in diamond production during the first quarter of the year to nearly... 

Petra achieves 1.1Mct output in Q1

Gold Fields aims to increase production in W Africa

By: David Oliveira     Updated 5 hours ago Gold mining major Gold Fields announced earlier today that it would like to increase gold production from its West African assets to a million ounces a year. The company currently owns and operates two mines in Ghana, namely Damang and Tarkwa, which Gold Fields West Africa head Alfred Baku noted... 

Gold Fields maintains FY output guidance despite 4% y/y drop in Q3 output

By: David Oliveira     24th October 2016 Gold major Gold Fields’ attributable equivalent gold production for the quarter to September 30, decreased by 4% year-on-year to 537 000 oz. Production was, however, 2% higher than the 529 000 oz produced in the second quarter of the year. 

Gold Fields maintains FY output guidance despite 4% y/y drop in Q3 output
Photo by Duane Daws
Gold Fields CEO Nick Holland

Perseus increases gold output in Sept quarter

By: Esmarie Swanepoel     24th October 2016 Gold miner Perseus Mining has reported a 9% quarter-on-quarter increase in production at its Edikan mine, in Ghana, in the quarter ended September 30, on the back of improved mill performance. The mine produced 43 776 oz of gold in the quarter, with the company on track to achieve its full-year... 

Randgold to pursue more opportunities in Côte d'Ivoire

By: Megan van Wyngaardt     24th October 2016 Africa-focused gold miner Randgold Resources will continue to explore gold opportunities in Côte d'Ivoire. Speaking at a Randgold-sponsored golf event in the West African country at the weekend, CEO Mark Bristow noted that the country held exciting possibilities for further investment and that... 

Randgold to pursue more opportunities in Côte d'Ivoire
Randgold Resources CEO Mark Bristow

Avocet dealt blow as 1 400 oz of gold is seized in labour row

By: Megan van Wyngaardt     Updated 7 hours ago LSE-listed Avocet Mining’s shares fell by 24.5% from 83.12p a share at Friday’s close to 62.75p apiece on Monday morning, following the news that a gold shipment containing about 1 400 oz from the Inata gold mine, in Burkina Faso, had been seized. Bailiffs acting on behalf of former employees of... 

Liquidator retrenches all 5 000 workers at mothballed Botswana nickel miner

By: African News Agency      Updated 7 hours ago All 5 000 employees of the moth-balled Botswana nickel miner Bamangwato Concession Limited (BCL) and its subsidiaries Tati Nickel Mining Company (TNMC) and BCL Investments will receive their last salaries in October 2016, the mine’s provisional liquidator has said. In a letter sent directly to... 

Mining industry must do more for communities – BMF

By: Anine Kilian     Updated 6 hours ago With mining communities not having reaped the expected benefits that mining companies were meant to provide, the industry has become a difficult subject to discuss in South Africa, despite current levels of interest in the subject being unparalleled since South Africa’s transition to... 

Mining industry must do more for communities – BMF

Conference highlights the economic, environmental challenges facing mining communities

By: Anine Kilian     Updated 5 hours ago Mining communities in Africa are often in remote areas, far from where decisions are being made on their behalf, Open Society Initiative of Southern Africa team leader Masego Madzwamuse said on Monday. Speaking at an event hosted by nonprofit organisation Benchmarks Foundation, in Johannesburg,... 

Botswana’s economic stimulus to prevent financial deficit narrowing rapidly

By: Natasha Odendaal     Updated 6 hours ago The next two years will see a gradual narrowing in Botswana’s financial deficit as mining recovers; however, continued government capital expenditure (capex) requirements will prevent the surplus seen during the commodity boom. Data released by BMI Research shows the Southern African country’s... 

Xtract confident of company’s future after halting Chile mine investment

By: Megan van Wyngaardt     Updated 5 hours ago Xtract Resources’ decision to no longer provide finance to Minera Polar Limitada, the owner of the Chepica gold/copper mine, in Chile, has stopped the severe financial haemorrhaging the company had suffered over the past year. In September, Xtract decided to pull the plug on its investment in the... 

Kimberley confirms Lerala halt

By: Esmarie Swanepoel     24th October 2016 Diamond miner Kimberley Diamonds has confirmed that mining at its Lerala mine, in Botswana, has been temporarily suspended, but refuted claims that the mine has closed down. The company said on Monday that mining operations at the mine, conducted by contractor Basil Read, have to date been at... 

Kimberley confirms Lerala halt

Deep Yellow appoints Borshoff as new head

By: Esmarie Swanepoel     24th October 2016 Uranium developer Deep Yellow has appointed John Borshoff CEO and MD, effective immediately, to succeed outgoing MD Greg Cochran. Borshoff stepped down as CEO of uranium miner Paladin Energy in August 2015 after founding the company some 21 years before. 

Beowulf’s Kallak remains under environmental review

By: Megan van Wyngaardt     Updated 5 hours ago Nordic-focused exploration and development company Beowulf Mining has not taken any shortcuts in the development of its Kallak North magnetite iron-ore project, in Sweden, it said on Monday. The mine was recently under review by the Mining Inspectorate of Sweden, owing to questions surrounding... 

AfDB provides R4.2m for South African sustainable mining efforts

By: Megan van Wyngaardt     Updated 7 hours ago To develop skills and knowledge in sustainable development and mining, the African Development Bank (AfDB) has granted R4.2-million to an initiative run by the South African government and the University of Cape Town (UCT). Aimed at helping turn the minerals extraction and beneficiation... 

Rambler cuts costs as it redoubles focus on Ming mine expansion

By: Henry Lazenby     Updated 2 minutes ago Maritime Canada-focused copper producer Rambler Metals and Mining has managed to lower costs by more than 18% for the year ended July 31, but booked another sizeable write-down on its flagship Ming mine, in Newfoundland. The London, England-based company reported that C1 cash costs fell on... 

China sets another meeting to boost coal supply as prices surge – sources

By: Reuters     Updated 6 hours ago China's State planner has called another last-minute meeting to discuss with more than 20 coal mines more steps to boost supplies to electric utilities and tame a rally in thermal coal prices, according to two sources and local press. The National Development and Reform Commission (NDRC) has... 

Amec calls for EDI extension

By: Esmarie Swanepoel     24th October 2016 The Association of Mining and Exploration Companies (Amec) has called on the federal government to extend the Exploration Development Incentive (EDI) beyond 2017, saying it will take nearly a decade for the programme to demonstrate its true value. The EDI encourages shareholder investment in... 

India raises concerns over lack of development at auctioned mineral blocks

By: Ajoy K Das     24th October 2016 India’s Mines Ministry has expressed concern that 16 auctioned mineral blocks have not been developed into operational mines and has convened a high-level meeting for later this week to take stock of the situation. The Ministry has convened the meeting of the Post Auction Mining Clearance and... 

Cooper Energy to buy Santos’s Victorian gas assets in A$82m deal

By: Esmarie Swanepoel     24th October 2016 ASX-listed Cooper Energy has struck an A$82-million deal with energy major Santos to buy its Victorian gas assets. The assets include a 50% interest in the Casino-Henry gas project, a 50% interest in the Sole gasfield and the Orbost gas plant, a 10% interest in the Minerva gasfield and plant,... 

QRC calls for re-establishment of Parliamentary inquiry into green activists’ funding

By: Esmarie Swanepoel     24th October 2016 The Queensland Resources Council (QRC) has called on the federal government to reestablish the select Parliamentary Committee inquiry into taxpayer subsidies being provided for green activist interference in local project approvals. This comes after a WikiLeaks email revealed that parties from... 

QRC calls for re-establishment of Parliamentary inquiry into green activists’ funding

Tawana takes option over WA lithium project

By: Esmarie Swanepoel     24th October 2016 Dual-listed Tawana Resources has signed an option agreement to earn into the Bald Hill lithium mine, in Western Australia. Under the terms of the agreement, Tawana will acquire all of the shares in Lithco for an option fee of A$25 000, payable immediately. The company can exercise the option at... 

MMG hopes to restart Peru exports

By: Esmarie Swanepoel     24th October 2016 Metals miner MMG is hopeful that concentrate trucking from its Las Bambas copper project, in Peru, will resume in the coming days as regional unrest quiets down. MMG has previously reported that logistics at the Las Bambas operation were temporarily disrupted by ongoing community protests,... 

Largo on track for further quarterly ops improvement as vanadium market turns

By: Henry Lazenby     23rd October 2016 A string of quarterly performance improvements by Canadian vanadium producer Largo Resources bodes well for third-quarter numbers at the Maracás Menchen mine, in Bahia state, Brazil, to follow the same record-setting trend. “The company is looking to beat previous numbers,” president and CEO Mark... 

Largo on track for further quarterly ops improvement as vanadium market turns
Photo by Henry Lazenby
Vanadium pentoxide at Largo Resources' Maracas Menchen mine, Brazil

Goldman sees China’s ‘stealth’ coal bailout lasting to 2020

By: Bloomberg     22nd October 2016 China’s coal production restrictions are a “stealth” bailout for miners and their creditors that may last until the end of the decade as the policies help boost prices, according to Goldman Sachs Group. Without government intervention, China’s coal industry wouldn’t be able to service the nearly... 

China visit helps Duterte reap funding deals worth $24b 

By: Bloomberg     22nd October 2016 Philippine President Rodrigo Duterte will bring home $24-billion worth of funding and investment pledges from his four-day visit to China as both nations agreed to resume talks and explore areas of cooperation in the South China Sea. China will provide $9-billion in soft loans, including a... 

Crude rally May clinch Canada top stock market status in ’16

By: Bloomberg     22nd October 2016 Gold’s best run since 2010 pushed Canadian equities to the top spot among developed-market stocks this year. Crude at $50/bl will give them an opportunity to stay there. That’s the view of strategists who follow the nation’s resource-heavy stock market. They expect energy producers will rally... 

Crude rally May clinch Canada top stock market status in ’16

Codelco copper premiums $80 to $85 Europe, $70 China – sources

By: Reuters     22nd October 2016 The world's biggest copper miner, Codelco, has slashed its 2017 physical copper premium to European buyers to the $80 to $85 per tonne range and is offering Chinese buyers a premium of around $70, three traders told Reuters this week. That would represent a deep cut from last year, underlining... 

TSX rises to 16-month high, led by resource shares

By: Reuters     22nd October 2016 Canada's main stock index rose to a 16-month high on Friday as shares of energy and materials companies led broad-based gains and investors raised bets on a rate cut from the Bank of Canada. For the week, the commodity-linked TSX rose 2.4%, helped by a 15-month high on Wednesday for US crude... 

Wesizwe opts for contractor mining at Bakubung 

By: Megan van Wyngaardt     21st October 2016 Platinum group metals (PGMs) miner Wesizwe Platinum has decided to appoint contract miners to operate its Bakubung platinum mine, near Rustenburg. At a media briefing, in Johannesburg, on Friday, Wesizwe projects executive Jacob Mothomogolo explained that 70% of South Africa’s start-up PGMs mines... 

Wesizwe projects executive Jacob Mothomogolo speaks about the platinum industry Cameraperson and editing: Nicholas Boyd 21/10/2016

Jubilee sees Q3 production increase

By: Anine Kilian     21st October 2016 Chromite concentrate production at dual-listed Jubilee Platinum’s Dilokong chrome mine project is up 88.04% to 28 559 t for the third quarter. The company announced on Friday that project revenue generated from chromite concentrate sales was up 108.22% to R37.36-million – a 95.23% increase for... 

Bushveld raises £750 000

By: Creamer Media Reporter      21st October 2016 Aim-listed Bushveld Minerals has raised £750 000 through the placement of 53.6-million new ordinary shares at 1.4p apiece. The diversified minerals development company will use the proceeds from the placing, which was co-ordinated by Beaufort Securities, for general working capital purposes while... 

Sierra Rutile produces most rutile since 2006 in Q3

By: Anine Kilian     21st October 2016 Mineral sands miner Sierra Rutile says that rutile production in the third quarter, at 43 081 t, was its highest since the restart of operations in 2006. Rutile production for the quarter was 27% higher quarter-on-quarter and 24% higher year-on-year. 

Botswana diamond miner announces four-month plant closure

By: African News Agency      21st October 2016 Contract miner Basil Read Mining Botswana (BRMD) has announced an immediate cessation of all mining operations at Lerala Diamond Mine (LDM), which is owned by Australian gem miner Kimberely Diamonds. BRMD, which was contracted to conduct mining operations on behalf of Kimberley Diamonds Limited... 

Amplats says yet to sign wage deal with unions 

By: Reuters     21st October 2016 South Africa's Anglo American Platinum (Amplats) has not yet signed a wage deal with unions, it said on Friday. "Anglo American Platinum continues to engage recognised unions and wage negotiations are progressing well," Amplats spokesperson Mpumi Sithole said. "This process is ongoing and we will... 

AMCU reaches tentative wage deals with platinum trio

By: Reuters     21st October 2016 The Association of Mineworkers and Construction Union (AMCU) has reached wage deals in principle with platinum producers Anglo American Platinum, Impala Platinum and Lonmin, subject to final approval from its members, the union's president said on Friday. This means a strike has almost certainly... 

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De Beers spending more on South African diamond exploration

Gold Fields invests $1.4bn to extend Damang’s life-of-mine

Wesizwe opts for contractor mining at Bakubung

On-The-Air (21/10/2016)

Coal junior aiming to up production to 10Mt, list on JSE

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Oppenheimer, De Beers polishing diamond tourism's sparkle

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