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NUM union wants 84% pay increase for gold workers

By: Reuters     Updated 3 hours ago South Africa's National Union of Mineworkers (NUM) will push for an 84% rise in basic pay for entry-level gold mining workers, a near 10 percentage-point increase on previous demands, according to documents obtained by Reuters on Thursday. They show that the NUM, which represents 57% of the... 

NUM union wants 84% pay increase for gold workers

European mining seemingly regaining lost lustre as at least one mine opens each year since 2008

By: Ilan Solomons     Updated 3 hours ago Europe is remarkable in that its mining industry predates the Roman Empire, yet large portions of unexplored territories with highly prospective resources remain, says European metals and minerals mining representative body Euromines president Mark Rachovides. Mattia Pellegrini, head of the raw... 

European mining seemingly regaining lost lustre as at least one mine opens each year since 2008

First copper from DRC-China deal due by year end – govt

By: Reuters     Updated 2 hours 57 minutes ago A joint venture between Democratic Republic of Congo's (DRC's) State miner and two Chinese companies, signed under a 2009 "minerals for infrastructure" deal, will begin producing copper before the end of 2015, the DRC's government said on Thursday. Under the deal Chinese companies pledged to... 

Tanzania's gold output rises in 2014, snaps two-year decline

By: Reuters     Updated 32 minutes ago Tanzania's gold output edged up 1.26% in 2014 to 1.27-million ounces, snapping a two-year decline, government data showed on Friday. Tanzania is Africa's fourth-biggest gold producer after South Africa, Ghana and Mali and gold exports are a key source of foreign exchange. Export earnings however... 

Zimbabwe's first-quarter gold production up 25%

By: Reuters     Updated 2 hours 31 minutes ago Zimbabwe's gold production rose 25% to 4 180 kg in the January-March quarter after small gold milling companies increased output, the country's chamber of mines said on Thursday. The chamber projected gold production for the year as a whole of 16 721 kg, up 8.7% from last year. 

De Beers inviting bids for life-extending takeover of Kimberley Mines

By: Martin Creamer South Africa’s De Beers Consolidated Mines (DBCM) on Thursday announced its intention to dispose of its Kimberley Mines as a going concern by competitive tender to a new owner able to extend the life of the historic operations beyond 2018 and preserve 650 jobs in the process. The current... 

De Beers inviting bids for life-extending takeover of Kimberley Mines
Photo by Duane Daws
Phillip Barton

How would the JSE approach a possible partial Eskom listing?

By: Terence Creamer Following confirmation that the National Treasury was indeed considering private-investment options for Eskom, as well as an indication from African National Congress (ANC) secretary-general Gwede Mantashe that a “Chinese” model could be considered, which would allow for a portion of the power... 

How would the JSE approach a possible partial Eskom listing?

Forrest vows to maintain iron-ore campaign

By: Esmarie Swanepoel     Updated 3 hours ago Chairperson of iron-ore major Fortescue Metals, Andrew Forrest, has vowed to continue with his campaign against multinational companies operating in the Pilbara, despite the government taking a decision not to pursue an inquiry into the iron-ore sector. Treasurer Joe Hockey on Thursday... 

From mines to hospitals to mortuaries – yet another use for SA’s Lodox scanner

By: Irma Venter     Updated 2 hours 35 minutes ago Within a decade conventional invasive autopsies may be a rarity, says head of the Department of Forensic Medicine at the University of Pretoria (UP), Professor Gert Saayman. Instead, pathologists will use imaging technologies to conduct virtual post-mortems. 

 From mines to hospitals to mortuaries – yet another use for SA’s Lodox scanner

Botswana defers copper tax to support struggling producers

By: Reuters Botswana will defer for one year the payment of a three percent royalty tax to support copper producers during a period of weak global demand and to avoid job losses, Minerals Minister Kitso Mokaila said on Thursday. Copper producers in Botswana include AIM-listed African Copper and Discovery... 

Avocet production down partly owing to strike

By: Megan van Wyngaardt Aim-listed Avocet Mining produced 17 011 oz for the first quarter of the year, at a cash cost of $1 113/oz. This was lower than the company’s fourth quarter 2014 results, when it produced 19 503 oz at a cash cost of $1 052/oz, owing to a number of factors. Ore milling at the company’s Inata mine,... 

Ncondezi CEO departs

By: Megan van Wyngaardt Aim-listed coal miner Ncondezi Energy CEO Paul Venter will soon step down from his position, as well as his role as executive director. He will be replaced by the company’s current COO Chris Schutte. Venter’s reason for leaving as well as his date of departure was not divulged. The company also... 

Creamer Media publishes Platinum 2015: A review of South Africa's platinum sector

Creamer Media’s ‘Platinum 2015’ report reviews South Africa’s platinum-sector business environment, with particular focus on the main participants in the platinum industry, as well as other platinum producers, and exploration and development companies. The report also provides a global overview... 

Creamer Media publishes Platinum 2015: A review of South Africa's platinum sector

Western Australia extends helping hand to Atlas

By: Esmarie Swanepoel     Updated 1 hour 13 minutes ago The Western Australian government on Friday extended a helping hand to struggling iron-ore miner Atlas, with Mines and Petroleum Minister Bill Marmion announcing that he had extended the government’s royalty assistance programme to the miner. Atlas would receive support in the form of a 50%... 

Western Australia extends helping hand to Atlas

Minister sees plenty of opportunities for METS sector despite mining’s phase shift

By: Esmarie Swanepoel     Updated 2 hours 19 minutes ago Australia’s mining equipment, technology and services (METS) sector would be vital to increasing the country’s competitive strength, Industry and Science Minister Ian Macfarlane said this week. Speaking at the Austmine conference, in Brisbane, Macfarlane noted that during 2012/13, the METS... 

Venturex to sell Pilbara copper/zinc mine for A$14m

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed Venturex Resources has executed a conditional term sheet to divest of its Pilbara copper/zinc mine in a transaction worth A$14-million. The transaction would see Venturex divest of its three wholly-owned subsidiaries that hold the Pilbara mine to Orion Mine Finance Group. 

QCLNG declared operational, APA deal approved

By: Esmarie Swanepoel     Updated 3 hours ago Natural gas major BG Group has taken operational control of Train 1 of the Queensland Curtis liquefied natural gas (QCLNG) project, after the project reached commercial completion. The transfer of operational control of Train 1 marked the start of commercial operations at QCLNG, and followed... 

Axiom secures A$4m to fund Isabel

By: Esmarie Swanepoel     Updated 3 hours ago Metals developer Axiom Mining has raised A$4-million through a share placement and a convertible note issue to fund the development of its Isabel nickel project, in the Solomon Islands. The junior reported on Friday that shares had been placed to a number of institutional and high net worth... 

Agnico Eagle takes a 17.4% stake in Belo Sun

By: Henry Lazenby Canadian gold miner Agnico Eagle has acquired a 17.4% stake in Belo Sun Mining, which is developing the Volta Grande project in Para state, Brazil. Belo Sun on Thursday issued 62.5-million common shares to Agnico Eagle at C$0.24 apiece, for proceeds of C$15-million. 

Agnico Eagle takes a 17.4% stake in Belo Sun
Photo by Belo Sun
Drilling at Volta Grande, Brazil.

Teck Resources lifts position in Artha Resources after option termination

By: Henry Lazenby Canadian diversified miner Teck Resources has acquired 1.5-million units of explorer Artha Resources. This followed an April 23 agreement between Artha and Teck's Argentina subsidiary to terminate the Aguilar option agreement, eliminating Artha’s liability of C$696 000 in firm expenditure... 

Trevali lifts equity financing by $10.6m

By: Henry Lazenby Base metals-focused Trevali Mining has increased a bought-deal financing to $30.6-million. The zinc producer had initially engaged Dundee Securities to lead a syndicate of underwriters to buy 19.61-million shares in the company to raise $20-million, but on Thursday announced that it had... 

South32 shares rise on JSE debut

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about South32's listing on the Johannesburg Stock Exchange. 

South32 shares rise on JSE debut

Metalloinvest swings to $177m Q1 net profit

By: Reuters MOSCOW – Russia's biggest iron-ore producer Metalloinvest swung to a net profit of $177-million in the first quarter of 2015, the company reported on Thursday. Metalloinvest, owned by Russia's third richest man Alisher Usmanov, reported a net loss of $542 million dollars for the last three months... 

Afrimat's newer industrial minerals, traditional aggregates continue to perform

By: Megan van Wyngaardt JSE-listed Afrimat has reported a 5.1% increase in revenue to R1.99-billion for the year ended February, while its profit after tax soared by 22.9% to R200-million. On Thursday the openpit mining and materials company advised that, as in the prior year, the group benefited from the strong... 

Afrimat's newer industrial minerals, traditional aggregates continue to perform

Rich world should help emerging countries cut pollution – Glencore's Hayward

By: Reuters Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to... 

Rich world should help emerging countries cut pollution – Glencore's Hayward
Photo by Bloomberg
Glencore chairperson Tony Hayward

Glencore's Zambia mining unit completes refinery upgrade

By: Reuters Zambia's Mopani Copper Mines (MCM) owned by Glencore said on Thursday it had completed upgrading a copper refinery at cost of $74-million seven months ahead of schedule. Mopani said in a statement that the completion of the upgrades at the Mufulira refinery located 385 km (239 miles) north of the... 

Poland expects final list of investors in Kompania Weglowa in June

By: Reuters WARSAW – It will take until at least the second half of June to establish a new ownership structure for troubled Polish miner Kompania Weglowa, the deputy treasury minister in charge of mines restructuring said on Thursday. "I think that in the second half of June at the earliest we will have... 

No Australian iron-ore inquiry - Treasurer

By: Esmarie Swanepoel Federal Treasurer Joe Hockey on Thursday announced that a decision had been taken not to initiate a Senate inquiry into the Australian iron-ore sector. Hockey said that the decision was taken after discussions with regulatory bodies and stakeholders across the resources sector. 

No Australian iron-ore inquiry - Treasurer

Goldstone zeroes in on strong prospects at Homase/Akrokerri project

By: Natasha Odendaal Following the completion of an auger geochemistry sampling programme, Aim-listed Goldstone Resources will narrow its exploration focus at its Ghana-based Homase/Akrokerri gold project to two prospects that hold immediate promise of adding to its existing resource. The company noted on Thursday... 

Mongolia leans on China as it waits for copper mine-led revival

By: Reuters Cash-strapped Mongolia's deal to expand the $6.5-billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. The landmark agreement with Rio Tinto to resume... 

Australian miners in Latin America advised to find in-country help early on

By: Esmarie Swanepoel Australian resources companies have been advised to conduct ‘basic groundwork’ when moving into the Latin American sector. Speaking at the second day of the Paydirt Latin America Downunder conference, in Sydney, Brisbane-based mining consultancy MEC Mining said that there were lessons that can... 

Gem Diamonds encouraged by Lesotho, Botswana progress

By: Natasha Odendaal Despite a “noticeably weaker” first-quarter market, the first three tenders in 2015 for the flagship Letšeng mine, in Lesotho, had generated prices comparable to that of the three tenders in the final quarter of 2014, London-listed Gem Diamonds CEO Clifford Elphick said on Thursday. Providing a... 

Bushveld makes offer for Madagascar-focused Lemur

By: Esmarie Swanepoel ASX-listed junior Lemur Resources has received an off-market takeover bid from Aim-listed Bushveld Minerals, valuing the company at A$10.87-million. South Africa-focused Bushveld Minerals is offering Lemur shareholders 6c in cash for every share held. The offer represents a 3.45% premium to... 

Mining remains a major economic contributor despite slowdown – MCA

By: Esmarie Swanepoel The slowdown in the commodity sector was not expected to diminish the Australian resources industry’s overall contribution to the economy, the Minerals Council of Australia has reported. CEO Brendan Pearson told the Austmine conference this week that despite the fact that commodity prices were... 

More than two-thirds of megaprojects face cost overruns – EY report

By: Esmarie Swanepoel New research by Ernst & Young (EY) has found that despite the significant cost cutting in the resources sector globally, multi-billion dollar projects were still plagued by cost overruns. In its ‘Opportunities to Enhance Capital Productivity’ report, EY found that an average budget overrun of... 

Finders ticks the last box for Wetar financing

By: Esmarie Swanepoel Copper miner Finders Resources on Thursday reported that the company had completed the final milestone for the $165-million senior project finance facility, allowing first draw-down to proceed. Finders told shareholders that the company’s Indonesian subsidiary had completed a mandatory hedging... 

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