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Imported LNG set to kick-start gas-to-power vision – Sasol

By: Martin Creamer Imported liquefied natural gas (LNG) is expected to initiate the greater use of gas in South Africa’s currently coal-dominated electricity generation. Anticipated is the establishment of infrastructure at South African ports, such as Saldanha Bay, Coega or Richards Bay, to facilitate the... 

Imported LNG set to kick-start gas-to-power vision – Sasol
Photo by Duane Daws
Maurice Radebe

Harmony declares maiden resource at Kili Teke prospect

By: Natasha Odendaal Gold miner Harmony Gold is “thrilled” with the prospect of transforming its Kili Teke resource – the first new porphyry copper-gold deposit defined in Papua New Guinea since the Golpu discovery in the early 1990s – into a major new deposit. Following the declaration of the greenfield project’s... 

Platinum market deficit set to evaporate in 2016 – WPIC

By: Reuters The platinum market deficit will shrink this year, before moving into a small surplus in 2016 as supply from mining and recycling rises and investment falls, the World Platinum Investment Council said in a report on Tuesday. While the WPIC does not forecast prices, a move back to near-balance... 

Platinum market deficit set to evaporate in 2016 – WPIC

Eskom plans ten-year tariff submission while pushing ahead with two claw-back bids

By: Terence Creamer State-owned electricity producer Eskom plans to make an early fourth multiyear price determination (MYPD4) application to the National Energy Regulator of South Africa (Nersa) and also extend the tariff horizon in the submission to ten years, CFO Anoj Singh said on Tuesday. The current MYPD3... 

Eskom plans ten-year tariff submission while pushing ahead with two claw-back bids
Photo by Duane Daws
Eskom CFO Anoj Singh

Eskom says OCGT use falling from very high first-half levels

By: Terence Creamer Despite reporting a 1.7% period-on-period decline in electricity sales for the six months to the end of September, Eskom’s primary energy costs still rose 8% to R40.9-billion, with diesel accounting for 16%, or over R6.5-billion, of that bill. Sales slumped to 107 307 GWh from 109 168 GWh in the... 

Eskom says OCGT use falling from very high first-half levels
Photo by Duane Daws
Eskom CEO Brian Molefe

ArcelorMittal South Africa prices $320m rights offer, shares jump

By: Reuters ArcelorMittal's South African unit priced its $320-million cash call at more than a 50% premium on Tuesday as it battles falling steel demand and rising costs, sending its shares soaring. "They're sending the signal that someone with deep pockets is backing them and obviously the parent company... 

ArcelorMittal South Africa prices $320m rights offer, shares jump

Universal's second offer days away

By: Esmarie Swanepoel Takeover target Universal Coal was one step closer to securing a competing takeover bid, announcing on Tuesday that the interested un-named third party had completed a satisfactory due diligence. Universal has consistently rejected a takeover offer from shareholder IchorCoal, which was offering... 

100Mt-plus copper resource defined at Botswana copper, silver play

By: Natalie Greve A recent drilling campaign on the Zone 5 deposit at Cupric Canyon Capital subsidiary Khoemacau Copper Mining, in Botswana, has defined a 100-million-ton high-grade copper and silver ore resource, the company said on Tuesday. “This most recent drilling and feasibility work has established Zone 5... 

Bauba confident of Moeijelijk 20yr mining right in Q1

By: Natasha Odendaal JSE-listed Bauba Platinum is cautiously optimistic of securing a 20-year mining right to replace the current small-scale mining permit over its Moeijelijk chrome deposit, in Limpopo, by the first quarter of 2016. The company lodged the application with the Department of Mineral Resources earlier... 

Glencore's Zambia copper mining unit lays off 4 300 workers – sources

By: Reuters Glencore's Zambian unit has laid off 4 300 workers, union and company sources said on Tuesday, as the mining and trading company deepens cuts in copper output to support flagging prices. "The company started giving out the letters of redundancy yesterday and has continued with the exercise... 

Kefi raises $4m for Tulu Kapi advancement

By: Natasha Odendaal Aim-listed Kefi Minerals has raised around $4-million through a conditional placing to advance its Tulu Kapi project, in Ethiopia. The group issued 877-million new ordinary shares of 0.1p each at a price of 0.3p apiece by way of a placing through Brandon Hill and the subscription of 54.8-million... 

Liontown shares soar on Tanzania acquisition

By: Esmarie Swanepoel The share price of ASX-listed junior Liontown Resources ended nearly 63% higher at the end of trade on Tuesday, after the company announced that it had secured a lithium-tantalum exploration project in Tanzania. Through a combination of tenement acquisitions and an option deal with a local... 

Namibia retains focus on securing diamond value-add locally

By: Ilan Solomons The local beneficiation of Namibia’s diamonds remained a top priority for government and industry stakeholders, Namibia Diamond Commissioner Kennedy Hamutenya said on Tuesday. Speaking to Mining Weekly Online from the International Diamond Conference 2015, which is being held in Windhoek,... 

Namibia retains focus on securing diamond value-add locally
Namibia Diamond Commissioner Kennedy Hamutenya

Canadian diamond producers best positioned to weather price crunch

By: Henry Lazenby As the global diamond industry sobers from a hangover of expected market growth that did not happen, Canadian producers are perhaps best positioned to weather the downturn, given the superiority of the country’s diamond projects. Since the global economic downturn of 2009 and up to the middle of... 

Canadian diamond producers best positioned to weather price crunch

China zinc smelter cuts fail to tip the supply-demand balance

By: Reuters Output cuts announced by Chinese zinc smelters last week will do little to tighten next year's global supply-demand balance in refined metal because already known mining cutbacks would have forced smelters to reduce production anyway. On top of that, hard-hit prices will fail to get much of a... 

Creamer Media publishes Water 2015: A review of South Africa's water sector research report 

By: Creamer Media Reporter Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others. 

Creamer Media publishes Water 2015: A review of South Africa's water sector research report

Ethics probe should not delay Freeport Indonesia divestment, says govt

By: Reuters A parliamentary ethics probe into a meeting between the speaker of Indonesia's house of representatives and officials from mining giant Freeport McMoRan should not delay the company's divestment plans for its Indonesian unit, a mining ministry official said on Tuesday. Freeport Indonesia must... 

QRC’s Roche urges politicians to defend gas industry

By: Esmarie Swanepoel The Queensland Resources Council (QRC) has called on Australian politicians to stand up for the oil and gas industry against unrelenting attacks from environmental groups. Speaking at the Queensland Gas Conference, QRC CEO Michael Roche said this week that the A$70-billion Queensland gas sector... 

QRC’s Roche urges politicians to defend gas industry

India’s Telangana province seeks iron-ore to ensure steel mill

By: Ajoy K Das The newly created Indian province of Telangana has stepped up scouting for iron-ore reserves to ensure the location of a three-million-tonne-a-year greenfield steel mill within its own geography. The province has identified 240 km2 and handed it over to the Geological Survey of India (GSI) for... 

Poseidon to process Silver Swan ore in China

By: Esmarie Swanepoel Nickel miner Poseidon Nickel has signed an offtake agreement with China’s Tsingshan over the Silver Swan project, in Western Australia. Poseidon reported on Tuesday that the offtake agreement covered the first two-and-a-half years of mine output from Silver Swan. The company would deliver broken... 

BC Iron may venture outside iron-ore

By: Esmarie Swanepoel The chairperson of iron-ore miner BC Iron, Anthony Kiernan, has told shareholders that the company was considering stepping outside of the iron-ore space. Speaking at the annual general meeting, Kiernan said that among the assets that BC Iron acquired in the merger with Iron Ore Holdings at the... 

Hannans partner advances JV

By: Esmarie Swanepoel ASX-listed junior Hannans Reward said on Tuesday that its joint venture (JV) partner, Lovisagruvan AB, would proceed with Stage 2 of the Pahtohavare copper/gold project, in Sweden. Under the JV agreement signed in March this year, Lovisagruvan earned an initial 35% interest in the project area... 

Pilbara raises A$12m for Pilgangaroo

By: Esmarie Swanepoel Metals developer Pilbara Minerals has raised A$12-million through a share placement, to fund a definitive feasibility study at its Pilgangaroo lithium-tantalum project, in Western Australia. The ASX-listed company reported on Tuesday that it would place some 52.2-million shares, priced at 23c... 

Yamana to reduce Brio Gold stake to 21% through private placement

By: Henry Lazenby Canadian miner Yamana Gold will reduce its stake in subsidiary Brio Gold to about 21%, as the parent moves to further divest from the Brazil-focused spin-out. TSX- and NYSE-listed Yamana and Brio have started a private placement of Brio shares. It would comprise a primary offering by Brio and a... 

Barrick cuts FY guidance on Pueblo Viejo mechanical issues

By: Henry Lazenby Canadian gold producer Barrick Gold has cut is full-year output guidance as a mechanical issue at the Pueblo Viejo mine, in the Dominican Republic, is expected to result in lower output at the operation until mid-January 2016. TSX- and NYSE-listed Barrick now expected to produce 6-million to... 

K+S faces output curbs amid lack of waste water approval

By: Reuters Germany's K+S could face production restrictions as authorities are withholding approval of its request for the continued discharge of waste water from processing potash. K+S was raided earlier this year by German criminal state police, on suspicion of illegally disposing of saltwater, which... 

Alberta puts a price on carbon in sweeping climate change mitigation reforms

By: Henry Lazenby The fossil-energy rich Western Canadian province of Alberta on Sunday announced a far-reaching climate change plan that accelerates the transition from coal to renewable energy, puts a price on carbon pollution for everyone and sets emissions limits for oil sands. "This is the day we step up, at... 

Alberta puts a price on carbon in sweeping climate change mitigation reforms

Samarco tailings breach underscores need for industrywide best practise

By: Simon Rees On November 5, there was a large, destructive breach of tailings dams at an iron-ore mine run by Samarco Mineração, in the Brazilian state of Minas Gerais. It was reported that about ten people had lost their lives, while hundreds more had to be evacuated. Much of Bento Rodrigues village was... 

'Mine to plan’ sparked soaring quarter – Gold Fields

By: Martin Creamer South Deep gold mine’s 42% production increase, which last week helped spark Gold Fields’ 29% share price increase, was the result of the company getting better at its “plan the mine, mine the plan” approach – and in particular the execution of long-hole stoping. The Johannesburg- and New... 

'Mine to plan’ sparked soaring quarter – Gold Fields
Photo by Duane Daws
Nick Holland

Alecto acquires Zambian gold deposits

By: Megan van Wyngaardt Africa-focused gold and base metals developer Alecto has entered into an agreement to buy Luiri, which owns the 760 000 oz Matala and Dunrobin Gold Mines (the project), in Zambia, for £1.54-million. Alecto would issue 943-million new ordinary shares with an aggregate value of £1.13-million, pay... 

Vast expects to start production at Romanian project in 2016

By: Megan van Wyngaardt Aim-listed Vast Resources’ 80%-owned subsidiary African Consolidated Resources (Vast Romania) has signed an agreement with Romanian State-owned company Baita setting out steps for Vast to obtain the right to mine the Baita Plai Polymetallic Mine (BBPM). The agreement, which was initiated by... 

Banks offer up R12bn in Transnet deal as parastatal eyes R500bn spend over coming decade 

By: Natalie Greve Boosting the coffers earmarked for its ambitious locomotive fleet acquisition programme, State-owned logistics group Transnet has announced the successful conclusion of a R12-billion club loan with five of the country’s major financial institutions, ratifying what the parastatal described as... 

Banks offer up R12bn in Transnet deal as parastatal eyes R500bn spend over coming decade

Botswana to award contract for 300 MW coal-fired power plant

By: Reuters Botswana will award a contract to build a 300 MW coal-fired power station this week that could transform the southern African nation to be an exporter of electricity by 2018, the mining and energy minister said on Monday. "Hopefully the decision will be made by Thursday," Mining, energy and water... 

Botswana to award contract for 300 MW coal-fired power plant

Eskom secures R2.3bn in development finance from French agency 

By: Terence Creamer South African electricity utility Eskom has secured a R2.3-billion (€150-million) long-term loan from French development financier Agence Française de Développement (AFD) to support distribution projects in Eastern Cape, KwaZulu-Natal and Limpopo. CEO Brian Molefe said the 25-year facility had... 

Eskom secures R2.3bn in development finance from French agency

Gemfields achieves record sales price for lower-quality emeralds

By: Megan van Wyngaardt Twenty-nine companies placed bids in Aim-listed Gemfields’ second auction of production from its 75%-owned Kagem mine, in Zambia, in the current financial year, with 4.45-million carats of the 5.07-million carats of lower-quality emerald on offer sold, generating $19.2-million. The auction, held... 

Lynas aiming for long-term offtake agreements 

By: Esmarie Swanepoel Rare earths producer Lynas said on Monday that the company was looking to implement long-term offtake agreements with a variety of pricing mechanisms,. MD Amanda Lacaze told shareholders at the company’s annual general meeting that Lynas already had a long-term contract in place for its cerium... 

China needs higher iron price to invest offshore – Fortescue

By: Reuters Chinese investment in Australian iron ore mining is unlikely to revive until beaten-down prices for the steel raw material recover, said Nev Power, CEO of Australia's Fortescue Metals Group. Fortescue went from scratch seven years ago to the world's fourth-biggest iron ore miner with support... 

IMX upbeat about Tanzania graphite project’s PFS results

By: Esmarie Swanepoel A prefeasibility study (PFS) into the Chilalo graphite project, in Tanzania, has placed a price tag of $74-million on the project’s development, owner IMX Resources reported on Monday. Based on average yearly production of 69 000 t of graphite concentrate, the Chilalo project was expected to... 

IMX upbeat about Tanzania graphite project’s PFS results

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