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Integrator has tools for long-term mining company success

By: Martin Creamer     Updated 3 hours ago With several major, junior and small minerals and mining services companies debt stressed, folding or in business rescue, former investment researcher Stephen Roper has come up with a longevity and success formula – with diamond consultant Dr John Bristow offering input. Accountant Roper and... 

Rockwell says repositioned for a new financial year

By: Natasha Odendaal     31st May 2016 Diamond miner Rockwell Diamonds on Tuesday said it had ended the 2016 financial year on a solid base as the fourth quarter showed “positive progress” following a recent strategic and operational review and restructuring. After suffering significant losses in the third quarter of 2016, the TSX-... 

Rockwell says repositioned for a new financial year
Photo by Duane Daws
Rockwell CEO James Campbell

CoAL inks two subscription agreements for $15m

By: Natasha Odendaal     31st May 2016 The share price of Coal of Africa Limited (CoAL) surged on the London and Johannesburg bourses on Tuesday after the announcement that two subscription agreements for proceeds of $15-million had been signed. The triple-listed coal miner, which extended the closing date for its buyout of ASX-listed... 

Caddy steps down at Bauba

By: Martin Creamer     Updated 4 hours ago Syd Caddy has stepped down as CEO of platinum and chrome producer Bauba Platinum with immediate effect. Nick van der Hoven, who currently holds the position of executive director of legal compliance and new business development, took over as CEO from May 31. 

Caddy steps down at Bauba
Photo by Duane Daws
Outgoing Bauba CEO Syd Caddy

Petra appoints new CFO

By: Creamer Media Reporter      31st May 2016 David Abery has resigned as FD of Petra Diamonds to pursue other opportunities. Current finance manager for operations Jacques Breytenbach would succeed Abery as CFO. He is a chartered accountant and a member of the South African Institute of Chartered Accountants. 

Trans Hex warns of FY losses

     Updated 2 hours 59 minutes ago Diamond producer Trans Hex on Tuesday warned that it would swing to a net loss of R100.8-million for the financial year ended March 31, compared with a profit of R190.6-million in the prior financial year. The loss after tax from continuing operations was likely to be R124.8-million for the year... 

Stellar receives initial approval for Sierra Leone project’s mining licence

By: Creamer Media Reporter      31st May 2016 Aim-listed Stellar Diamonds says it has been verbally informed that Sierra Leone’s Minerals Advisory Board has approved the company’s application for a mining licence for its Tongo project. Progression of the licensing process, however, remained subject to the Ministry of Mines’ licensing body,... 

IMX sets listing date for Graphex

By: Mariaan Webb     31st May 2016 A new graphite-focused company with assets in Tanzania will make its debut on the Australian bourse next month. IMX Resources announced on Tuesday that its spin-off, Graphex Mining, will start trading on the ASX on June 14. 

Platinum belt strikes cost Rustenburg municipality R423m in revenue

By: African News Agency      Updated 3 hours ago Rustenburg has not fully recovered from the 2014 protracted strike in the platinum mines, executive mayor Mpho Khunou said on Tuesday. “Prior to the protracted strike, Rustenburg had the third fastest growing economy out of eight metropolitans in South Africa and in 2012 contributed 4.9% of the... 

Centerra Gold delivers notice of arbitration to Kyrgyz government

By: Samantha Herbst     Updated 3 hours ago After receiving two court rulings from Kyrgyz courts last week against its wholly owned subsidiary Kumtor Operating Company (KOC) for alleged environmental infractions at its eponymous mine, TSX-listed Centerra Gold this week delivered a notice of arbitration to the Kyrgyz government in relation... 

Centerra Gold delivers notice of arbitration to Kyrgyz government
Kumtor mine, Kyrgyzstan

Metminco completes acquisition of Colombian gold portfolio

By: Creamer Media Reporter      Updated 4 hours ago ASX- and Aim-listed Metminco has completed the acquisition of Minera Seafield, which owns the Quinchia gold asset portfolio, in Colombia, from RMB Australia. Metminco announced in March that it had signed a heads of agreement with RMB Australia to acquire the portfolio in exchange for up to... 

Auction sales prove a silver lining for Coal India

By: Ajoy K Das     31st May 2016 Faced with mounting stocks and depressed demand, e-auctions have proved to be a silver lining for Coal India Limited (CIL). By increasing volumes through e-auctions, the miner was able to boost sales by $373-million during the 2015/16 financial year. CIL sold 58-million tons of coal under... 

Alrosa doubles net profit on strong diamond sales

By: Reuters     31st May 2016 Russian diamond miner Alrosa , the world's largest producer of rough diamonds in carat terms, more than doubled its quarterly net profit on the back of strong sales, it said on Tuesday. Alrosa, with its key production assets located in the Yakutia region in Russia's Far East, posted a... 

New online floor plan launched for Electra Mining Africa 2016

     30th May 2016 For the first time, this year Creamer Media introduced an interactive floor plan and exhibitor listing for Electra Mining Africa 2016, taking pace from 12 to 16 September. The floor plan and exhibitor listing will be hosted on  

New online floor plan launched for Electra Mining Africa 2016

Workers at Chinalco's copper mine in Peru start strike – union

By: Reuters     Updated 2 hours 40 minutes ago Worker's at Chinalco Mining Corp International's Toromocho mine in Peru started a four-day strike on Tuesday to demand the reinstatement of a quarterly bonus, the union said. The strike by about 800 workers started at 6:30 local time (1130 GMT) and followed the suspension of the bonus amid... 

Australian coal in high demand in South East Asia

By: Mariaan Webb     Updated 6 hours ago Australia’s high-quality coal is in high demand in South East Asia and can play a central role in helping to reduce energy poverty in the region, the Minerals Council of Australia (MCA) has said. Citing figures provided by Platts, the MCA stated this week that coal exports to Thailand had... 

Alara reports 'steady progress' at Oman project

By: Mariaan Webb     31st May 2016 ASX-listed Alara Resources was making “steady progress” at its Al Hadeetha copper/gold project, in Oman, the company reported on Tuesday. Alara was advancing project financing negotiations and said the financing arrangement would consider Sharia compliant and conventional banking projects. 

Challenger mine resumes operations, produces first gold

By: Samantha Herbst     31st May 2016 After being temporarily suspended by its former owner in March, the Challenger gold mine, in South Australia, has resumed production and site operations, with the first gold bar produced on Tuesday under the mine’s new owners, ASX-listed gold producer WPG Resources and joint venture partner... 

ABx gets repeat order for cement-grade bauxite

By: Mariaan Webb     31st May 2016 ASX-listed Australian Bauxite (ABx) has made a second sale of cement-grade bauxite from its Bald Hill mine, in Tasmania, a month after its maiden shipment occurred. ABx sold another 5 000 t as a repeat order of the 5 557 t shipment of April 28. The company reported that the second shipment would... 

Doray achieves first gold production at Deflector project

By: Mariaan Webb     31st May 2016 Gold miner Doray Minerals reported on Tuesday that the Deflector project, in the southern Murchison region of Western Australia, had achieved its first gold pour – a year and two months after the takeover of the project. Doray, which gained the Deflector project through the acquisition of Mutiny... 

Almonty gains Vietnam ferrotungsten plant with ATC takeover

By: Mariaan Webb     31st May 2016 Canada-based tungsten miner Almonty Industries has moved to take over ATC Alloys, which would provide the company access to one of the largest and most advanced ferrotungsten plants outside China. Announcing the transaction on Tuesday, the companies said in a joint statement that TSX-V-listed... 

Almonty gains Vietnam ferrotungsten plant with ATC takeover

Nuclear needed to meet climate change targets – expert

By: Reuters     31st May 2016 Nuclear power is needed to meet the climate change targets set at the recent COP 21 climate summit in Paris, Jacques Regaldo, chairperson of the World Association of Nuclear Operators said at the opening of the AtomExpo in Moscow on Monday. Referring to the 20 th anniversary of the Chernobyl... 

Nuclear needed to meet climate change targets – expert

TSX dips as energy stocks retreat ahead of OPEC meeting

By: Reuters     30th May 2016 Canada's main stock index edged lower on Monday as energy stocks retreated ahead of a meeting of oil producers later in the week, while mining stocks and financials also fell in a low-volume session with US markets closed for Memorial Day. The index has rallied 22% from an almost 3-1/2-year low... 

RNC’s Beta Hunt ramp-up ahead of schedule

By: Henry Lazenby     30th May 2016 Canadian gold producer Royal Nickel Corporation (RNC) is ahead of the ramp-up schedule for its Beta Hunt mine during May, hitting about 65% of the year-end mining rate target, which is ahead of the ramp-up schedule planned in the Beta Hunt preliminary economic assessment, the company reported on... 

Sasol investing $1.4bn to grow Mozambique gas platform

By: Terence Creamer     30th May 2016 Energy group Sasol has started drilling the first of what will be 12 new gas and oil wells in Mozambique where the government recently approved a production sharing agreement (PSA), as well as a field development plan for the resources, which are in the same neighbourhood as Sasol’s producing... 

Sasol investing $1.4bn to grow Mozambique gas platform
Photo by Sasol
Drilling for gas in Temane

Chile's copper output drops in April due to heavy rains

By: Reuters     30th May 2016 Copper output in world No 1 producer Chile fell in April as some mines in the central part of the country were hit by heavy rains and ore grades continued to decline, the government said on Monday. Chile, which produces one-third of the world's copper, is struggling with dwindling ore grades in... 

Mining ‘most transparent’ – Corruption Watch 

By: Martin Creamer     30th May 2016 The Chamber of Mines of South Africa on Monday welcomed the Corruption Watch report on transparency in corporate reporting, which found that South Africa’s most transparent companies came from the mining sector. Gold Fields, BHP Billiton and Anglo American Platinum come out tops in the report,... 

Mining ‘most transparent’ – Corruption Watch
Chamber CEO Roger Baxter

Four killed in Botswana mining accident

By: Reuters     30th May 2016 Four mine workers were killed and six others critically injured in an accident at Botswana's State-owned BCL copper mine, the Minister of Energy and Minerals said on Monday. The ten employees were travelling underground in a mine shaft elevator on Sunday evening when the accident happened,... 

Suncor partially restarts Fort McMurray ops as Alberta wildfire grows to cover 579 946 ha

By: Henry Lazenby     30th May 2016 Even as the Alberta wildfires continued to rage out of control, oil sands major Suncor Energy announced at the weekend that it had started a safe and staged restart in the Regional Municipality of Wood Buffalo (RMWB), with initial production from its Firebag in situ facility starting early last... 

Suncor partially restarts Fort McMurray ops as Alberta wildfire grows to cover 579 946 ha
Photo by Air Canada
About 300 South African firefighters have arrived in Edmonton to assist combating the Alberta wildfires

$60m boost to Zambia power grid

By: Martin Creamer     30th May 2016 Mining is poised to receive a spinoff benefit from Monday’s announcement that the power grid in Zambia is to be boosted by a $60-million investment. In this latest transaction, Standard Chartered bank has partnered with the United States Agency for International Development (USAID) to provide a... 

$60m boost to Zambia power grid
Zesco CEO Victor Mundende, Standard Chartered Bank Zambia CEO Andrew Okai and Zambia’s Deputy Energy Minister Charles Zulu

Droxford’s acquisition of Atlantic gains FIRB approval

By: Mariaan Webb     30th May 2016 The Foreign Investment Review Board (FIRB) has approved Singapore-based Droxford International’s acquisition of Australian junior Atlantic. The FIRB approval was one of the key conditions of the scheme of arrangement, which the companies announced last month. 

Venturex, Macarthur ink farm-in and JV agreement on Sulphur Springs

By: Samantha Herbst     30th May 2016 ASX-listed junior Venturex Resources has signed a memorandum of understanding (MoU) with TSX-V-listed lithium-focused explorer Macarthur Minerals to enter into a farm-in and joint-venture agreement (FJVA) for the lithium rights at Venturex’s 100%-owned Sulphur Springs copper-zinc project, in... 

Kin Mining raises $1.68m through share placement

By: Samantha Herbst     30th May 2016 Promoting its growth and development strategy for the advancement of its Leonora gold project, in Western Australia, ASX-listed junior Kin Mining on Monday completed an oversubscribed share placement to raise $1.68-million for the project. About 12-million shares would be issued by June 3 at 14c... 

Platfields continues settlement negotiations in liquidation case

     30th May 2016 Embattled precious metals exploration company Platfields remains in settlement negotiations with another party that had implemented liquidation proceedings against it. Platfields was advised in October last year that an order for its provisional liquidation was granted by the Gauteng High Court,... 

India faces iron-ore glut despite mine closures

By: Ajoy K Das     30th May 2016 India is facing an oversupply of iron-ore fines and lumps, despite half of the country’s iron-ore mines having been closed. Out of the country’s 518 iron-ore mines, 267 were not operational on May 1, information from the Mines Ministry showed. 

Panoramic considering IPO for Gum Creek

By: Mariaan Webb     30th May 2016 Western Australian mining company Panoramic Resources said on Monday that it had decided to run a dual initial public offering (IPO) and sales process for its Gum Creek gold project, near Wiluna, to unlock the project’s full value in the currently-buoyant gold sector. A March scoping study... 

AMCU says ending strike at Sibanye's Kroondal mine

By: Reuters     30th May 2016 Workers at South Africa's Sibanye platinum mine in Rustenburg will return to work this evening following a wildcat strike on Friday, the Association of Mineworkers and Construction Union (AMCU) said on Monday. After a mass meeting at the Rustenburg mine, AMCU general secretary Jeffrey Mphahlele... 

Heron enters farm-in agreement with Alchemy

By: Samantha Herbst     30th May 2016 Remaining focused on the development of its high-grade Woodland zinc-copper project in New South Wales (NSW), minerals developer Heron Resources has inked a farm-in agreement with fellow ASX-listed Alchemy Resources, covering a portfolio of Heron’s NSW exploration tenements. Under the headline... 

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