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AngloGold resorts to international arbitration as illegal mining worsens in Ghana

By: Martin Creamer Gold mining company AngloGold Ashanti has resorted to international arbitration to resolve the worsening illegal mining incursion at Obuasi gold mine in Ghana, where underground mining has been stalled to allow for lower-cost redevelopment. The company, headed by CEO Srinivasan Venkatakrishnan... 

AngloGold resorts to international arbitration as illegal mining worsens in Ghana
Photo by Duane Daws
Srinivasan Venkatakrishnan (Venkat)

AMCU calls on Glencore to improve mineworkers’ wages, benefits

By: Ilan Solomons     Updated 3 hours ago The Association of Mineworkers and Construction Union (AMCU) on Friday delivered a memorandum of demands to diversified miner Glencore, outlining its members’ demands and grievances. The memorandum called for a minimum salary of R6 000 a month for all employees earning less than that and a 10%... 

AMCU calls on Glencore to improve mineworkers’ wages, benefits
Photo by Duane Daws
Glencore Coal COO Murray Houston and AMCU national treasurer Jimmy Gama

Resgen signs EPC deal for Boikarabelo plant

By: Esmarie Swanepoel Dual-listed coal developer Resource Generation (Resgen) has inked a heads of agreement (HoA) and letter of intent with project house Sedgman for the design, procurement and construction of a coal handling and preparations plant (CHPP) at its Boikarabelo mine, in South Africa. The agreement... 

AMSA insists further protection still required despite recent price increases

By: Terence Creamer Safeguard duties, in addition to the 10% protection already introduced on a range of steel products entering South Africa, “remain critical in the short term to ensure the future sustainability of primary steel production”, ArcelorMittal South Africa (AMSA) said on Friday. Releasing an... 

AMSA insists further protection still required despite recent price increases

Lesotho aiming to be a major diamond producer in next few years

By: Ilan Solomons The mining industry in Lesotho is still in its infancy, but it is developing and has a lot of potential, says Lesotho Mining Minister Lebohang Thotanyana. In 2015, Lesotho adopted the Minerals and Mining Policy – the first time that the country has developed a policy specifically focused on its... 

Lesotho aiming to be a major diamond producer in next few years

Another Mozambique coal railway project develops, while country is hit by debt scandal

By: Keith Campbell The international tender for the construction of a new railway to link Mozambique’s coal fields to the coast closed at the end of last week. The project is being developed by Thai Moçambique Logística, a joint venture between Thailand-based Italian Thai Development Company, which has a 60% share,... 

Federal court ratifies agreement between Samarco and Brazil authorities

By: Esmarie Swanepoel The Brazilian Federal Court of Appeal this week ratified an agreement between the joint venture (JV) partners of the Samarco iron-ore operations and a number of Brazilian parties. In March, mining major BHP Billiton and its JV partner Vale entered into an agreement with the Federal Attorney... 

Shanta Gold strengthens financial position through share placing

By: Anine Kilian     Updated 3 hours ago East-Africa focused gold producer Shanta Gold has successfully completed an oversubscribed bookbuild for the conditional placing of about 111-million new ordinary shares. These shares were conditionally placed by stockbroking and advisory house Peel Hunt at 6.5p a share, with certain existing,... 

Botswana Diamonds raises £500 000 for exploration

By: Anine Kilian Aim-listed Botswana Diamonds has raised £500 000 through the placing of 33.33-million new ordinary shares with new and existing investors at 1.5p apiece. The placing shares represented 9.9% of the company's issued share capital. The net proceeds of the placing would be used to fund ongoing... 

Metals of Africa raises A$4.5m

By: Esmarie Swanepoel Graphite junior Metals of Africa would raise some A$4.5-million to advance its projects in Mozambique. The ASX-listed company on Friday said that it would raise an initial A$4-million through a share placement to institutional and sophisticated investors, issuing 72.7-million shares at a price... 

Oyu Tolgoi underground development approved

By: Esmarie Swanepoel Mining major Rio Tinto and its joint venture partners in the Oyu Tolgoi copper-gold mine, in Mongolia, have approved the development of an underground operation, slated to start in mid-2016. The new operation would require a capital investment of $5.3-billion, and first production was expected in... 

Oyu Tolgoi underground development approved

Latin American Minerals overcoming hurdles to get back on track

By: Simon Rees     Updated 9 minutes ago Despite the strong economic headwinds, several juniors and mid-tiers were able to advance projects towards near-production or into operation during the downcycle’s trough; however, plenty of others were less fortunate, having to retrench, mothball or even capitulate. Other projects and... 

Moody’s expects Chapter 11 process to herald dawn of new era for US coal

By: Henry Lazenby     Updated 30 minutes ago With nearly all of the once-major US coal companies having filed for Chapter 11 bankruptcy protection as a result of low prices, ratings agency Moody’s Investors Service on Friday stated in its latest ‘North American Coal Outlook’ that the stage is set for the US coal industry to emerge looking... 

Moody’s expects Chapter 11 process to herald dawn of new era for US coal

Japan's Itochu says willing to buy natural resource assets

By: Reuters Japanese trading house Itochu Corp is willing to buy natural resource assets, taking advantage of a plunge in commodity prices, its president said on Friday. "We are standing by to make purchases of resource assets," Itochu President and CEO Masahiro Okafuji told news conference 

Oz Minerals reveals plans to construct concentrate treatment plant

By: Esmarie Swanepoel Copper-gold miner Oz Minerals has offered a ray of hope to the community of Whyalla, in South Australia, revealing plans to construct a concentrate treatment plant (CTP) as part of the development of an enlarged Carrapateena project. The miner on Friday unveiled plans to increase the scope of... 

S2 Resources reports mineral resource at Polar Bear

By: Esmarie Swanepoel ASX-listed junior S2 Resources has reported a mineral estimate of 84 000 oz at it’s Nanook prospect within the Polar Bear project, in Western Australia. The resource estimate of 2.2-million tonnes, grading 1.2 g/t gold was based on 821 aircore drill holes and 12 reverse circulation drill holes. 

Consolidated Zinc raises cash for Mexican exploration

By: Esmarie Swanepoel Minerals explorer Consolidated Zinc has received firm commitments for the placement of 162.5-million shares, raising A$6.5-million to accelerate the drilling programme at its Plomosas zinc project, in Mexico. The shares have been priced at 4c each, with a free one-for-two unlisted option,... 

Independence pulls the trigger on ABM's Lake Mackay

By: Esmarie Swanepoel Diversified junior Independence Group has exercised its option over the Lake Mackay project area, in the Northern Territory, taking a 9% share interest in fellow-listed ABM Resources. Independence and ABM in 2013 signed a farm-in and joint-venture agreement over the Lake Mackay project area,... 

Mincor's gold strategy gathers momentum

By: Esmarie Swanepoel ASX-listed Mincor Resources’ gold strategy is starting to gain traction as the company announced a gold inventory of some 117 000 oz at its Kambalda gold operations, in Western Australia, and the start of a full-scale feasibility study at its Jeffreys Find project. Mincor CEO Peter Muccilli said... 

Chilean SQM's Argentina joint-venture project to cost up to $600m

By: Reuters SQM, the Chilean chemicals group, said late Wednesday its joint venture with Canadian junior miner Lithium Americas to develop a lithium project in Argentina will require $500-million to $600-million in total expenditures. SQM and Lithium Americas signed the joint venture in March for the... 

Chesapeake to sell some Oklahoma assets to Newfield for $470m

By: Reuters Debt-laden Chesapeake Energy, the second-largest US natural gas producer, said on Thursday it was selling $470-million in assets in Oklahoma to Newfield Exploration Co as part of a plan to shore up its finances through divestitures. Chesapeake's shares were up 12% at $6.31 in premarket trading... 

America's newest refinery falls victim to oil price slump

By: Reuters The owners of a North Dakota refinery that was the first to be built in the US since the 1970s have curtailed output and may try to sell it, the latest victim of the oil price slump roiling the energy industry. MDU Resources Group Inc and Calumet Specialty Product Partners LP, which jointly own... 

Lower 2015 silver prices drive record demand

By: Henry Lazenby The global silver market saw record demand in 2015, driven by new highs in the jewellery, coin and bar, and photovoltaic sectors, which helped boost total silver demand to 1.17-billion ounces last year, according to a new report by market analysts at Thomson Reuters GFMS. Its latest World Silver... 

Lower 2015 silver prices drive record demand

Zimnisky rough diamond price index up 2.4% in 30 days, as 2016 sales surprise

By: Henry Lazenby The Zimnisky Global Rough Diamond Price Index has indicated that rough prices have risen 2.4% over the last 30 days, which, however, does little to offset the 1.7% decline over the last six months, and 10.8% decline over the last 52 weeks. The index was up 5.4% after hitting a 52-week low on... 

Zimnisky rough diamond price index up 2.4% in 30 days, as 2016 sales surprise

Thompson Creek to install secondary Mount Milligan crusher

By: Henry Lazenby Gold producer Thompson Creek Metals will spend $47-million on the installation of a new secondary crushing circuit at its Mount Milligan flagship operation in British Columbia, as the company banks on more reliable throughput levels for the long term at a lower cost compared with temporary... 

Alberta oil operators demobilise to protect assets, assist devastated communities

By: Henry Lazenby Alberta oil sands operators on Thursday further scaled back operations to only critical staff levels as gigantic walls of fire engulfed and devoured entire neighbourhoods in the regional hub of oil sands operations Fort McMurray. The Alberta government stated that public safety remained the key... 

Alberta oil operators demobilise to protect assets, assist devastated communities

Breakthrough to advance platinum-using fuel cells

By: Creamer Media Reporter Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to discuss a technical breakthrough that could hasten the widespread introduction of vehicles that run on platinum-using fuel cells. 

Breakthrough to advance platinum-using fuel cells

PTM completes Maseve plant commissioning, lowers guidance

By: Henry Lazenby On the heels of completing the commissioning of its Maseve mine plant on March 31, South Africa-focused precious-metals producer Platinum Group Metals (PTM) has produced about 1 700 4E ounces, containing platinum, palladium, rhodium and gold, in April alone. The Vancouver-incorporated company... 

PTM completes Maseve plant commissioning, lowers guidance
Photo by Platinum Group Metals
Maseve plant, South Africa

Namibia, De Beers to sign new diamond sales agreement within days

By: African News Agency Global diamond mining and trading concern De Beers says it is finalising a new diamond sales agreement that will govern the disposal of diamonds from its Namdeb Mine, which is a joint venture with the Namibian government. In a briefing posted on its Report to Society 2015 bulletin released this... 

Du Plessis stalls iron-ore growth as Rio opts for ‘any-and-all’ debt cutting

By: Martin Creamer While South African-born Rio Tinto chairperson Jan du Plessis was vowing not to expand Rio’s iron-ore division beyond 360-million tonnes a year, the globally perceived over-producer of iron-ore was outlining the steps it had taken to cut near-term maturing gross debt by $1.5-billion. Rio said... 

Du Plessis stalls iron-ore growth as Rio opts for ‘any-and-all’ debt cutting
Photo by Duane Daws
Jan du Plessis

Alecto awarded extended exploration contract

By: Anine Kilian Africa-focused gold and base-metal exploration and development company Alecto Minerals has been awarded an additional three years for its Gassel-Manere and Arae mineral exploration permits, known as the Kerboulé project, in Burkina Faso.   The company said on Thursday that this was a crucial step... 

Sibanye eyes more platinum acquisitions

By: Reuters Sibanye Gold aims to show its faith in platinum with further acquisitions while looking to benefit from a broader commodities revival by strengthening its portfolio of gold, base metals and coal assets. The South African company bought Anglo American Platinum's (Amplats) Rustenburg mines in... 

Sibanye eyes more platinum acquisitions
Photo by Duane Daws
Sibanye Gold CEO Neal Froneman

Lily Mine protesters demand answers over unpaid salaries

By: News24Wire Failure to pay workers at Mpumalanga's collapsed Lily Mine resulted in a massive protest involving local residents and more than 700 disgruntled miners on Thursday morning. Thursday marked exactly three months since a shaft collapsed at Lily Mine in Louieville, outside Barberton, on February 5.... 

Power, equipment challenges impede Metallon’s Q1 production

By: Creamer Media Reporter Power supply interruptions and equipment breakdowns have contributed to a 15% year-on-year decrease in Zimbabwe-based Metallon Corporation’s production for the quarter ended March 31. The company on Thursday reported production of 20 676 oz for the quarter under review, compared with the 24 386... 

Power, equipment challenges impede Metallon’s Q1 production

Mining Weekly iPhone and Android Apps available for free download 

Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

OreCorp raises A$16.2m for gold projects

By: Esmarie Swanepoel ASX-listed gold developer OreCorp would raise some A$16.2-million through a share placement to institutional and sophisticated investors in Europe and Australia, to fund scoping and feasibility studies on its Nyanzaga gold project, in Tanzania. The company said on Thursday that up to 60-million... 

Newcrest hedges more gold at Telfer, adjusts lending faciilties

By: Esmarie Swanepoel Gold miner Newcrest Mining has hedged an additional 200 000 oz of gold sales from its Telfer gold mine, in Western Australia. The company said on Thursday that the gold sales for the 2018 and 2019 financial years were hedged at an average price of A$1 773/oz. 

Penny's Find gets the green light

By: Esmarie Swanepoel The Western Australian government has given ASX-listed junior Empire Resources approval to start mining at the Penny’s Find gold project. “This is a critical approval that means there are no technical impediments for our plans to mine at Penny’s Find upon the completion of a bankable feasibility... 

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