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Endeavour Mining lifts Q1 earnings on higher sales

By: Henry Lazenby West Africa-focused gold producer Endeavour Gold has reported higher earnings attributable to shareholders as a result of improved sales and lower costs, which was somewhat offset by lower metals prices. For the three months ended March 31, the Vancouver-based corporation reported net earnings... 

Tesla Motors reveals new range of household batteries, new energy division

By: Henry Lazenby Clean energy leader Tesla Motors on Thursday night launched a new range of batteries that could power homes and commercial buildings at a fraction of the expected cost, highlighting the growing demand for the minerals such a s graphite, cobalt and lithium required to make these batteries. Tesla... 

Tesla Motors reveals new range of household batteries, new energy division
Tesla Motors CEO Elon Musk.

DTI mum on amended BEE codes despite May 1 deadline

By: RDM News Wire With just hours to go before the Broad Based Black Economic Empowerment (B-BBEE) Amended Codes of Good Practice come into law on 1 May‚ the Department of Trade and Industry (DTI) had still not clarified several important points - including the draft Qualifying Small Enterprises (QSE) codes and... 

DTI mum on amended BEE codes despite May 1 deadline

SA’s minimum wages outperform its Brics partners

By: RDM News Wire Despite 84.5% of South African workers receiving a regular wage or salary – which is high in world terms and even better than some developed countries – the subject of minimum wages remains one of the most heatedly discussed economic topics. And it’s often misunderstood by both workers and... 

SA’s minimum wages outperform its Brics partners

Iron-ore bearishness returning despite price rally

By: Martin Creamer Despite this week’s price rally, bearishness is quickly returning to the over-supplied iron-ore business. Brazilian iron-ore giant Vale on Thursday reported an all-time quarterly iron-ore production high of 74.5-million tonnes in the three months to March 31, and the supply tide is about to be... 

Iron-ore bearishness returning despite price rally
Photo by Duane Daws
Kumba Iron Ore's Kolomela operation

BHP declares force majeure due to blockades at Cerro Matoso

By: Reuters BHP Billiton , the world's largest mining company, said on Thursday that union blockades at its Cerro Matoso nickel operation had forced it to declare force majeure with some customers. Unionised workers have been blocking access to the Cerro Matoso ferronickel mine and processing plant in... 

Iluka proposes lower takeover offer for Kenmare

By: Megan van Wyngaardt London-listed Kenmare Resources has received a revised, nonbinding proposal from Australian mineral sands miner Iluka Resources regarding the proposed buyout of the Irish miner. In its latest proposal, Iluka offered Kenmare shareholders 0.016 Iluka shares for each Kenmare share. 

Iluka proposes lower takeover offer for Kenmare

Lace mine on schedule for mid-year start-up

By: Megan van Wyngaardt The Lace diamond mine, in the Free State, was on track for mining operations to start in the second half of this year, Southern African diamond development and exploration company DiamondCorp reiterated on Thursday. In a project update, the dual-listed company noted that it had now drilled 3 321... 

Lace mine on schedule for mid-year start-up

Zimbabwe suspends tax on diamond sales – letter to IMF

By: Reuters Zimbabwe has temporarily suspended a 15% tax on diamond sales, citing a drop in production and low international gem prices, the finance minister and central bank governor said in a letter to the International Monetary Fund (IMF). The southern African country last October ordered diamond mining... 

Evraz subsidiary joins parent company in business rescue proceedings

By: Natalie Greve Two weeks after itself filing for business rescue, vertically integrated steel and vanadium slag producer Evraz Highveld Steel & Vanadium announced on Thursday that subsidiary Mapochs Mine would also enter business rescue proceedings following “historical operational difficulties” that had... 

Evraz subsidiary joins parent company in business rescue proceedings

CoAL to enter third stage of £38.23-million capital raise

By: Natalie Greve Triple-listed Coal of Africa Limited (CoAL) plans to implement Stage 3 of a capital raising process to raise gross proceeds of £38.23-million by the end of May. Stage 3 would see CoAL issue an additional 144-million shares to raise gross proceeds of £7.92-million. 

Coal mine methane touted as alternative energy source for mines

By: Zandile Mavuso The lack of power or irregular power supply is posing an additional challenge for the South African mining sector, which has had to grapple with policy uncertainty, rising input costs, labour unrest and illegal mining. This is according to University of the Witwatersrand professor Dr Ria Vosloo,... 

Waterberg Coal Company to focus on export project

By: Megan van Wyngaardt JSE-listed Waterberg Coal Company (WCC) on Thursday reported that its optimisation and ongoing value engineering on its Eskom project, which would see it supply ten-million tons a year of coal to the State-owned power producer, remained on hold. The company added that it would continue to focus... 

Floods, power outages curb Moma output

By: Megan van Wyngaardt Amid difficult operating conditions associated with power outages and floods during the quarter ended March 31, Mozambique-based mineral sand miner Kenmare Resources mined 3.21-million tonnes of ore at a grade of 5.85% and produced 144 500 t of heavy minerals concentrate (HMC) at its Moma mine.... 

Production falters in March quarter, but Tiger maintains expectations

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has maintained its full-year output expectations despite reporting a decline in production during the quarter ending March, owing to the wet season. During the three months making up the first quarter of 2015, Tiger produced 5 723 t of copper and 1 012 t... 

Strategic minerals and the aerospace and defence industries

By: Keith Campbell The term ‘strategic minerals’ is one that is much used but one that, in the words of Brazilian minerals lawyer Raquel Quaresma de Lima, “does not have a steady definition”, while the Science and Technology Committee of the UK House of Commons has observed that there is “no single definition of... 

Strategic minerals and the aerospace and defence industries

Dale to retire as Sedibelo Platinum Mines CEO

By: Megan van Wyngaardt Platinum group metals (PGM) producer Sedibelo Platinum Mines on Thursday reported that its CEO Tom Dale would step down. CFO Erich Clarke was appointed interim CEO. 

Kweyama steps down from Amplats, Kumba boards

By: Megan van Wyngaardt JSE-listed mining giants Anglo American Platinum (Amplats) and Kumba Iron Ore on Thursday informed shareholders that Khanyisile Kweyama would step down from her positions on their respective boards, effective immediately. Kweyama cited that her position as Business Unity South Africa CEO had... 

Kweyama steps down from Amplats, Kumba boards
Khanyisile Kweyama

Eskom reaches payment agreement with ten nonpaying municipalities

By: Natasha Odendaal While State-owned power utility Eskom has reached payment agreements with ten of the top 20 defaulting municipalities, the balance would face scheduled power interruptions from June for nonpayment. The 20 local municipalities aggregately owed Eskom about R3.68-billion for bulk electricity supply,... 

Eskom reaches payment agreement with ten nonpaying municipalities

Conference to focus on sustainable reporting, transparency

By: Ilan Solomons Sustainable reporting organisation Global Reporting Initiative’s (GRI’s) Africa regional conference will bring together hundreds of experts and provide a platform for enhancing the value of sustainability reporting and encouraging greater levels of corporate disclosure and accountability, GRI... 

Conference to focus on sustainable reporting, transparency
DOUGLAS KATIVU IN CONVERSATION WITH MINING WEEKLY ONLINE

Cliffs Natural blames Rio, BHP, Vale for weak iron-ore prices

By: Reuters Cliffs Natural Resources, which is struggling to cope with an over-supplied iron-ore market, blamed industry leaders BHP Billiton, Rio Tinto and Vale for weak prices for the commodity. The prices are depressed "not by the fact that these guys produce a lot of iron ore, but by the fact that they... 

Australia won't pursue Fortescue over call to cap iron output

By: Reuters Australia's anti-trust watchdog said on Thursday it will not take any action against Fortescue Metals Group for comments by its chairman last month urging bigger rivals to join it in capping iron ore output to shore up prices. Fortescue Chairman Andrew "Twiggy" Forrest upset the Australian... 

Australia’s project pipeline shrinks on resources slowdown

By: Esmarie Swanepoel The value of Australian resource projects either committed or already under construction fell by 2.5% quarter-on-quarter in the three months to March, on the back of declining commodity prices, advisory firm Deloitte reported on Thursday. In its latest Investment Monitor, Deloitte noted that... 

Australia’s project pipeline shrinks on resources slowdown

No immediate import restrictions considered for Indian gold needs

By: Ajoy K Das Indian gold imports in March might double compared with the same period last year, with the government unlikely to take immediate measures to check the inflow. According to an official in the Commerce Ministry, while the government was "keeping a close watch on gold imports and its macroeconomic... 

Creamer Media publishes Iron-Ore 2015: A review of the iron-ore sector electronic research report

Creamer Media’s Iron-Ore 2015 report provides an overview of the global iron-ore market, with particular reference to pricing, supply and demand, as well as the trade in iron-ore. It provides information on not only the major mergers and acquisitions, and the trade of iron-ore in the sector, but... 

Creamer Media publishes Iron-Ore 2015: A review of the iron-ore sector electronic research report

US to evaluate uranium mine cleanups on Navajo land – Justice Dept

By: Reuters The US government will put $13.2-million into an environmental trust to pay for evaluations of 16 abandoned uranium mines on land belonging to the Navajo Nation in Utah, Arizona and New Mexico, the Justice Department said on Friday. The Justice Department said the agreement was part of its... 

Turquoise Hill deal to exit Mongolia miner SouthGobi falls through

By: Reuters A deal that would have allowed Canada's Turquoise Hill Resources to unload its remaining stake in Mongolian coal miner SouthGobi Resources, a company that was once worth billions of dollars, has fallen through. Turquoise Hill said on Friday that the agreement with National United Resources... 

Vale debt rating cut 2nd time this year on iron-ore price drop

By: Reuters Brazilian mining company Vale was downgraded late on Thursday by the Standard & Poor's credit-rating agency over concern that a drop in iron ore prices will erode revenue at the world's largest producer of the main steel-making ingredient. New York-based S&P reduced the company's rating to... 

Macquarie revives talks with Jefferies on precious metals business – sources

By: Reuters Australia's Macquarie Group is looking to recruit the precious metals trading team of Jefferies Group LLC's commodities brokerage, two sources familiar with the matter said on Friday. Jefferies, which is owned by Leucadia National Corp, said last month that it would sell most of its Bache unit's... 

Centerra Gold lifts Q1 profit on higher output, sales

By: Henry Lazenby Canadian gold producer Centerra Gold has reported a significant jump in first-quarter earnings on the back of a 53% jump in ounces sold. The Toronto-based company after market close on Thursday reported net earnings of $40.7-million, or $0.17 a share, for the three months ended March 31,... 

Centerra Gold lifts Q1 profit on higher output, sales
Photo by Centerra Gold
Centerra Gold's Kumtor mine, in the Kyrgyz Republic.

First Quantum shares on the up despite swinging to Q1 loss

By: Henry Lazenby Base metals miner First Quantum Minerals has swung to a net loss for the first three months of $82-million, or $0.14 per diluted share, as lower copper and nickel sales and prices impacted the bottom line. Excluding special items the firm’s comparative loss totalled $12-million, or $0.10 a... 

First Quantum shares on the up despite swinging to Q1 loss
Photo by First Quantum Minerals
Kansanshi, Zambia.

Muga's by-products prove profitable for Highfield

By: Esmarie Swanepoel A scoping study into a proposed slimes crystallisation plant at the Muga potash project, in Spain, has proven the opportunity to generate production and revenue from by-products, ASX-listed Highfield Resources said on Friday. The scoping study was done in addition to a definitive feasibility... 

Syrah gets enviro nod for Balama

By: Esmarie Swanepoel The Mozambican Ministry of Land, Environment and Rural Development has given its blessing for the development of the Balama graphite project, ASX-listed Syrah Resources reported on Friday. The company told shareholders that it had now received an environmental license for the Balama project. 

Valence halts trading as $75m financing plans are announced

By: Esmarie Swanepoel Graphite miner Valence Industries on Friday announced that it had entered into a binding heads of agreement for a $75-million debt financing facility to fund the planned expansion of its Uley graphite project, in South Australia. Valence was expected to provide details of the funding terms, as... 

Hot Chili shareholders welcome CMP investment

By: Esmarie Swanepoel The shareholders of ASX-listed junior have voted in favour of a deal to sell a stake in the Productora copper project, in Chile, to Chilean major Compañía Minera del Pacífico SA (CMP). In August of last year, Hot Chili executed a joint infrastructure agreement with CMP, which would see the... 

Axiom in fundng talks for Isabel

By: Esmarie Swanepoel Metals developer Axiom Mining on Friday told shareholders that it was in negotiations with project financers and potential offtake partners for its Isabel nickel project, in the Solomon Islands. Axiom was taking a phased approach to develop the Isabel project, with the initial focus being on... 

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