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Mine mechanisation linked to local equipment retains jobs – Jourdan

By: Martin Creamer Resource development strategist Dr Paul Jourdan this week called for the local manufacture of mechanised mining equipment to neutralise job losses during the switch to machines. The former Mintek president says that even though mechanisation “massively” increases the quality of work in mines and... 

Mine mechanisation linked to local equipment retains jobs – Jourdan
Photo by Creamer Media
Paul Jourdan

Outbid in copper, Mick Davis turns to coal to try for X2's first deal

By: Reuters X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bilateral talks to buy some of Rio Tinto's Australian coal assets, two sources with knowledge of the situation said on Tuesday. Davis, whose X2 fund has yet to clinch its first deal, is turning his... 

Jubilee concludes second tranche payment for DCM rights

By: Natasha Odendaal Dual-listed Jubilee Platinum’s share price on the JSE surged nearly 8% on Tuesday as the mine-to-metals specialist announced the receipt of funding offers for two of its surface projects and firm offers for its noncore nonplatinum assets, while it concluded the second of three share-payment... 

Assore warns of lower FY earnings amid lower iron, manganese prices

By: Creamer Media Reporter JSE-listed mining holding company Assore expects its attributable earnings for the year to June 30 to decline to between R1.23-billion and R1.5-billion, from R4.01-billion in the prior financial year. Headline earnings were expected to fall to between R1.7-billion and R2.08-billion, from... 

Universal Coal expects significantly higher earnings

By: Creamer Media Reporter ASX-listed Universal Coal said on Tuesday it expected to report significantly higher half-year earnings, owing to improved operational performance and higher demand and sales volumes from its main customer. The company, which owns thermal coal assets in the Witbank coalfield of South Africa,... 

South32 secures ICMM membership

By: Natasha Odendaal BHP Billiton spin-off South32 has successfully joined the International Council on Mining and Metals (ICMM), a move that is expected to deliver long-term benefits for the new globally diversified metals and mining company and its stakeholders. An independent expert review panel had recommended... 

Global mining exploration in crisis, but not hopeless – report

By: Megan van Wyngaardt Global mineral exploration is in crisis, but mining companies can turn their exploration performance around. “Finding orebodies is not all about luck and success is not unpredictable. And while some companies struggle to replace depleted reserves, those that act in a countercyclical way – that... 

Global mining exploration in crisis, but not hopeless – report

Auroch sells Moz gold project to Xtract for $12.5m

By: Creamer Media Reporter ASX-listed Auroch Minerals will sell its Manica mining concession, in Mozambique, to Aim-listed gold and copper exploration company Xtract Resources for $12.5-million. The purchase price included $6.5-million in Xtract shares and $4.5-million in cash. Xtract would also provide funding to settle... 

New fleet arrives to scale up Lucapa’s diamond operations in Angola

By: Creamer Media Reporter The first new earthmoving equipment has arrived at Lucapa Diamond Company’s Lulo concession, in Angola. The new fleet, sourced from Caterpillar dealer Barloworld Equipment in Luanda, would enable Lucapa and its partners to double alluvial diamond mining operations at Lulo to 20 000 bulk cubic... 

Kimberley Diamonds secures debt finance for Botswana mine

By: Creamer Media Reporter Junior diamond firm Kimberley Diamonds has secured a A$10-million loan from China-based auction house Zhejiang Huitong Auction, which it intends to use for the recommissioning of its Lerala diamond mine, in Botswana. The ASX-listed company has received the first A$5-million of the loan and will... 

Zambia resumes VAT refund payments to mining firms – Minister

By: Reuters Zambia has started paying value-added-tax (VAT) refunds again to mining companies, its mining minister said on Monday, aiming to put an end to a long running dispute. Mining companies had claimed for months that they were owed more than $600-million in VAT refunds and in February the government... 

Zambia begins rationing electricity supply to mines – source

By: Reuters Zambia has started rationing power supply to mines, an industry source said on Tuesday, as Africa's second-biggest copper producer struggles to meet electricity demand. "They have given us a schedule indicating how much electricity they will supply to us at different times of the day due to the... 

Hummingbird to sell Ghana asset

By: Megan van Wyngaardt Aim-listed Hummingbird Resources has agreed to sell its Ensign Resources subsidiary, which owns the Asheba licence, in Ghana, to private West African exploration business Taoudeni Resources. The disposal would allow Hummingbird to focus on developing its six-million-ounce gold inventory at its... 

Mubadala, Trafigura create base metals investment JV

By: Creamer Media Reporter Abu Dhabi-based investment firm Mubadala Development and global commodities company Trafigura Beheer will establish a 50:50 joint venture to invest in the base metals mining sector. Under the terms of the deal, Mubadala would also acquire a 50% stake in Trafigura’s Minas de Aguas Teñidas (Matsa),... 

AngloGold employee killed in fall-of-ground incident

By: Creamer Media Reporter A rock-drill operator was killed in a fall-of-ground incident at AngloGold Ashanti’s Kopanang mine, near Orkney, in the Free State, on Tuesday. The Department of Mineral Resources had been notified and an in loco inspection would be conducted. 

Hatfield Colliery closure speeds up UK exit from deep coal mining

By: Reuters Britain's Hatfield Colliery will stop producing coal with immediate effect after being unable to sell its coal following the sharp rise in the UK's carbon tax, Prospect union said on Tuesday. The closure of the employee-owned mine in South Yorkshire is 14 months earlier than expected. Around 500... 

Polish mining gear maker Kopex going abroad to defy mining slump

By: Reuters Polish mining machinery maker Kopex is looking for contracts abroad, bracing for a fall in its 2015 net profit due to a crisis in the local coal sector, its chief executive said. Poland's coal mining giants, which have been Kopex's main clients for years, have minimised their investment spending... 

Eldorado Gold says no impact on Greek operations from bank shutdown

By: Reuters Mid-sized Canadian miner Eldorado Gold Corp said it was business as usual for its operations in Greece on Monday despite the shutdown of banks in the country after a collapse in bailout talks. "The financial controls in Greece have not impacted us - we are still paying out suppliers, employees... 

BHP announces group management committee changes

By: Creamer Media Reporter BHP Billiton health, safety and environment (HSE) and marketing and technology president Dean Dalla Valle will take responsibility for the diversified miner’s potash portfolio from August 1. In addition to being chief commercial officer in charge of potash, he would retain responsibility for HSE,... 

Australia cuts 2015 iron-ore price forecast by 10%

By: Reuters Australia on Tuesday cut its price forecast for iron-ore in 2015 by 10% to $54.40/t, citing a weak outlook for the commodity's main market, China's steel sector. The forecast by the Department of Industry and Science is a sharp decrease from the $60.40/t predicted three months ago and is way off... 

Australia cuts 2015 iron-ore price forecast by 10%

Rio Tinto aluminium smelter in New Zealand faces possible power crunch

By: Reuters Rio Tinto's aluminium smelter in New Zealand, which has suffered losses in two of the last three years, faces a July 1 deadline to decide whether to extend its power supply contract with utility Meridian Energy . The decision could determine the future of the 350 000-tonne-a-year smelter, which... 

WA govt, gold miners put A$1.7m into research project

By: Creamer Media Reporter The Western Australia government has joined forces with key gold industry players and the Commonwealth Scientific and Industrial Research Organisation (Csiro) in a A$1.67-million quest to extend the life of major mines and reveal sites for new operations. Mines and Petroleum Minister Bill... 

Creamer Media publishes Real Economy Insight: Platinum 2015 brief

This seven-page brief is a synopsis of key developments in the platinum industry over the past 12 months, including industry restructuring, mechanisation and automation, supply and demand, and the outlook for the sector. 

Creamer Media publishes Real Economy Insight: Platinum 2015 brief

Three-party agreement to advance Canadian projects

By: Megan van Wyngaardt Canadian mineral resource company Oban Mining has entered into a definitive arrangement agreement with TSX-listed Eagle Hill Exploration, Ryan Gold and Corona Gold, to acquire common shares of each company. Under the arrangement, each holder of Eagle Hill shares would receive ten common Oban... 

Chile copper output rises 2.1% in May

By: Reuters Chile, the world number one copper producer, had output of 508 245 t of the red metal in May from the year before, boosted by new projects and operational improvements at an unidentified "important" processing plant, government statistics agency INE said on Tuesday. Copper production increased... 

KWG acquires 100% chromium IP

By: Sashnee Moodley Chromite explorer KWG Resources reported on Monday that it had acquired 100% ownership rights in two US provisional patent applications relating to the production of chromium iron alloys directly from chromite ore and the production of low carbon chromium iron alloys directly from chromite... 

Slow formation of district mineral funds to hold back auctions

By: Ajoy K Das Indian provincial governments’ tardy progress in setting up mandatory district mineral funds (DMFs) is likely to delay mineral auctions. Except for Goa and Madhya Pradesh, no other provincial government has completed the process of creating and notifying DMFs in their respective mineral-bearing... 

Bear Creek appoints new investor relations director

By: Sashnee Moodley TSX-V-listed Bear Creek Mining has appointed Barbara Henderson its investor relations director, while she would continue her corporate secretary duties. 

Bentley to make A$8m cash bid for Strike Resources

By: Creamer Media Reporter Investment company Bentley Capital said on Tuesday that it intended to make a conditional, off-market takeover bid for Strike Resources, which closed its operations in Peru in April last year. The company stated that its proposed bid of 5.5c a share in cash was a significant premium to the... 

Vital cuts A$30m from capital cost of Watershed

By: Natasha Odendaal ASX-listed Vital Metals has reduced the forecast preproduction capital expenditure (capex) for its flagship 70%-owned Watershed tungsten project, in North Queensland. An update to the project’s definitive feasibility study (DFS) showed that the currently “highly conducive” market conditions... 

Cheniere moving ahead with condensate export terminal in Texas

By: Reuters Cheniere Energy Inc is moving ahead with a $550-million export terminal in Texas that will ship processed condensate to international markets, a top executive said on Monday. In addition, the terminal will be able to export any type of domestic oil if the decades-old US crude export ban is ever... 

Toro chairperson takes leave of absence

By: Creamer Media Reporter Uranium company Toro Energy said on Tuesday it had granted its chairperson, Fiona Harris, leave of absence for three months for personal reasons. John Cahill, the Toro audit committee chairperson, would act as chairperson of the board during Harris’s absence, the ASX-listed company reported. 

Kidman eyes September quarter start at new WA gold mine

By: Creamer Media Reporter ASX-listed Kidman Resources remained “firmly on track” to achieve its objective of starting gold production at the recently acquired Burbanks mine, in Western Australia, in the September quarter, the company reported on Tuesday. The Burbanks mining centre has historical production of 366 340 oz... 

Newcrest starts Chillagoe exploration programme

By: Creamer Media Reporter Gold major Newcrest Mining has started exploration work at junior Mungana’s Chillagoe project, in Queensland, as part of an agreement to search for large gold/copper porphyry deposits. Under the agreement, which was announced in May, Newcrest will spend up to A$20-million on exploration over an... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

Gold miners bring new offer to the table

By: Natasha Odendaal South Africa’s gold mining companies on Monday tabled a five-year offer that would see their employees benefit from an upside in the industry, with some fringe benefits to alleviate employee indebtedness and improve housing. Gold companies AngloGold Ashanti, Evander Gold Mines, Harmony Gold,... 

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