R/€ = 15.40 Change: -0.13
R/$ = 13.71 Change: -0.09
Au 1337.77 $/oz Change: -1.06
Pt 1053.50 $/oz Change: -1.00

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Rockwell in ‘state of despair’, new CEO steers operational turnaround 

By: Henry Lazenby     23rd September 2016 South Africa-focused alluvial diamond miner Rockwell Diamonds is in a “state of despair”, its incoming chief executive said on Thursday, adding that the company will implement a comprehensive operational turnaround. “From my observations to date on the general health of the business and... 

Rockwell in ‘state of despair’, new CEO steers operational turnaround
Incoming Rockwell CEO Tjaart Willemse

Barberton tailings plant shoots lights out with cheap, upped gold 

By: Martin Creamer     23rd September 2016 In the 12 months to June 30, gold was produced by the Barberton Tailings Retreatment Plant (BTRP) of Pan African Resources at the exceptionally low all-in cost of $332/oz. While Barberton Mines as a whole had a good financial year underground and on surface, it was the on-surface BTRP that shot... 

Blurb: Pan African CEO Cobus Loots talks to Mining Weekly Online’s Martin Creamer on Barberton gold. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Cash costs plunge below $700/oz at AngloGold’s Mponeng mine

By: David Oliveira     23rd September 2016 Mponeng gold mine, near Carletonville, in the North West, currently the world’s deepest mine, was one of the lowest-cost producers in South Africa during the first half of 2016, states South African gold mining major AngloGold Ashanti in its earnings report for the six months ended June 30,... 

Cash costs plunge below $700/oz at AngloGold’s Mponeng mine

Pearce leaves Fortescue for Anglo American

By: Anine Kilian     23rd September 2016 Diversified mining group Anglo American has appointed Stephen Pearce FD. He will succeed outgoing FD René Médori. Pearce will join Anglo’s group management committee on January 30, before taking over as FD on April 24. 

Gecamines says Lundin withdrawal from Congo would be problematic

By: Bloomberg     23rd September 2016 Gecamines, the Democratic Republic of Congo’s state-owned miner, warned that any decision by Lundin Mining to withdraw from the Tenke Fungurume copper mine could scupper Freeport McMoRan Inc.’s proposed sale of its stake in the project. By exiting at the same time as Freeport and transferring... 

Coal India plans to re-enter Mozambique

By: Ajoy K Das     23rd September 2016 Less than a month after formalising its exit from developing coal blocks in the Tete province of Mozambique, Coal India Limited (CIL) is planning to re-enter the African country in search of a new project. According to a CIL official, the Indian miner will approach the Mozambique government for... 

Coal India plans to re-enter Mozambique

Kibo, Sepco agree to 3-week extension on MCPP development cost determination

By: Natasha Odendaal     23rd September 2016 Aim- and Alt-X-listed Kibo Mining has agreed to a three-week extension for the determination of the final development amount still due by China-based contractor Sepco III as part of a redefined agreement for the progression of Kibo’s Mbeya coal-to-power project (MCPP), in Tanzania. The agreement,... 

Kibo to fast-track gold assets with heads of agreement with Opera

By: Natasha Odendaal     23rd September 2016 Aim- and AltX-listed Kibo Mining has consolidated its Imweru and Lubando gold projects, in Northern Tanzania, into a newly renamed company Katoro Gold Mining. This followed the signing of a heads of agreement with London-listed Opera Investment for the unloading of Kibo’s wholly-owned UK... 

Tawana buys Namibia lithium project

By: Esmarie Swanepoel     23rd September 2016 Dual listed Tawana Resources has moved to acquire a second lithium project, with the company entering into an agreement to acquire the mining rights to a Uis pegmatite tailing stockpile in Namibia. The Uis project consists of some 20-million tonnes of stockpile derived from one of the largest... 

Harmony reports fatality at Phakisa

By: Anine Kilian     23rd September 2016 An employee was killed in a rail-bound equipment accident at JSE-listed Harmony Gold’s Phakisa mine, in the Free State. Investigations into the accident are under way. 

Premier to deliver updated RHA resource statement end-Sept

By: Natasha Odendaal     23rd September 2016 Aim-listed Premier African Minerals on Friday said the results of a review of the immediately available underground resources at its RHA tungsten project, in Zimbabwe, will be released before the end of September. The mining and exploration company is developing a revised resource for RHA to... 

BMR secures finance to advance Kabwe

By: Megan van Wyngaardt     23rd September 2016 Zambia-focused mineral processing business, BMR Group has entered into a $5.2-million project construction and trade finance facility with African Compass International (ACI), a private South African group engaged in mining, energy and agribusiness. Through the facility, Aim-listed BMR and its... 

Ivanhoe announces more high-grade copper results from Kakula discovery

By: Anine Kilian     23rd September 2016 The 2016 drilling campaign at Ivanhoe Mines’ Kakula discovery, in the Democratic Republic of Congo, is continuing to demonstrate that it is substantially richer, thicker and more consistent than other mineralisation at the the Kamoa project. The Kamoa project is a joint venture between Ivanhoe... 

Armadale starts RC drilling at Tanzania graphite project

By: Anine Kilian     23rd September 2016 Aim-listed Armadale Capital has started reverse circulation (RC) drilling at its high-grade Mahenge Liandu graphite project in Tanzania.   The company reported on Friday that RC drilling has started over a 2 km strike length within the project area.   1 400 m of drilling is planned – targeting... 

Namibia's fiscal deficit to narrow on rising mining production, spending cutbacks – BMI

By: Anine Kilian     23rd September 2016 Rising mining production and cutbacks on nonessential spending will see Namibia's fiscal deficit narrow in the coming months, says BMI Research, which is part of Fitch Group. BMI points out in a new report that Namibia's fiscal balance will begin to narrow over 2017, after widening substantially... 

Greenland Minerals teams up with Shenghe on Kvanefjeld development

By: Mariaan Webb     23rd September 2016 Shanghai-listed rare earths company Shenghe Resources will acquire a 12.5% interests in Greenland Minerals and Energy (GMEL) and enter into a strategic working relationship with the Australia-listed company to advance the Kvanefjeld project. Shenghe downstream processing subsidiary Leshan Shenge... 

Uranium prices sink lower amid oversupply

By: Bloomberg     23rd September 2016 Uranium prices have gone from bad to worse, slumping to an 11-year low as brimming global inventories weigh on a market that hasn’t recovered from the Fukushima disaster in Japan. Spot uranium declined 1.4% to $24.40/lb on Thursday, the lowest since April 2005, according to data from Ux... 

Mining Weekly iPhone and Android Apps available for free download 

     23rd September 2016 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Skeena completes acquisition of Mount Rainey Silver

By: Henry Lazenby     24th September 2016 Junior explorer Skeena Resources has closed the acquisition of Mount Rainey Silver, giving it access to mineral claims covering the past-producing, underground Prosperity–Porter Idaho–Silverado silver property, in north-west British Columbia’s ‘Golden Triangle’. Mount Rainey Silver's primary... 

North American Aboriginals and First Nations join hands to thwart domestic oil development

By: Henry Lazenby     23rd September 2016 Canadian and Northern US Aboriginal groups and First Nations has adopted the Treaty Alliance Against Tar Sands Expansion this week, seeking to officially prohibit and collectively challenge and resist oil sands industry expansion in Alberta. This extends to hindering the transport of such... 

North American Aboriginals and First Nations join hands to thwart domestic oil development

MacLean Engineering to supply battery powered fleet for Goldcorp’s diesel-free Borden mine

By: Creamer Media Reporter      23rd September 2016 Goldcorp is looking to build what is expected to be the world;s first diesel-free hard rock gold mine at its Borden project, near Chapleau, Ontario. The company has chosen Collingwood, Ontario-based MacLean Engineering to provide a fleet of battery powered mobile underground mining equipment to... 

Almonty drops planned offer for ATC Alloys on Vietnam JV woes

By: Mariaan Webb     23rd September 2016 Canada-based Almonty Industries has dropped its planned offmarket takeover offer for ATC Alloys (ATA), after the Australia-listed company’s ferrotungsten joint venture (JV) in Vietnam ran into trouble. ATA has moved to remove its 40% partner Guangyu Chen director of the JV company – Hong... 

Metro responds to Moly Mines offer

By: Esmarie Swanepoel     23rd September 2016 ASX-listed Metro Mining has responded to fellow-listed Moly Mines’ offer for Gulf Alumina, in which Metro holds a 39% interest, saying that some of the conditions of the transaction will be difficult to satisfy. Metro pointed out on Friday that Moly Mines is a controlled subsidiary of the... 

GRE gets contract at Davyhurst

By: Esmarie Swanepoel     23rd September 2016 Gold developer Eastern Goldfields has awarded a A$12.5-million contract to project house GR Engineering Services to refurbish the 1.2-million-tonne-a-year Davyhurst gold processing plant, in Western Australia. The processing facilities have been on care-and-maintenance since 2008, and are being... 

Greens group appeals to Qld govt as Blair Athol sale proceeds

By: Esmarie Swanepoel     23rd September 2016 Environmental group Lock the Gate Alliance has again appealed to the Queensland government to intervene in the $1 sale of the Blair Athol coal mine, saying the deal exposed the Queensland taxpayer to an "unacceptable risk" of having to pay for the mine’s rehabilitation. Mining major Rio Tinto... 

Greens group appeals to Qld govt as Blair Athol sale proceeds

TiZir could have more damage - MDL

By: Esmarie Swanepoel     23rd September 2016 ASX-listed Mineral Deposits Limited (MDL) has restarted operations at its TiZir titanium and iron ilmenite upgrading facility, in Norway, but has warned that the full extent of damages incurred during an August incident was not yet known. MDL in August halted operations at TiZir following an... 

Alliance to earn a stake on Wilcherry Hill

By: Esmarie Swanepoel     23rd September 2016 Juniors Tyranna Resources and Alliance Resources have formed a strategic joint venture over the Wilcherry Hill project, in South Australia. Under the agreement, Alliance would pay A$2-million in cash for a 51% stake in the project, and would also subscribe for shares in Tyranna in order to... 

Vimy raises cash for Mulga Rock

By: Esmarie Swanepoel     23rd September 2016 Uranium hopeful Vimy Resources plans raise A$20-million to assist in the development of its Mulga Rock project, in Western Australia. An initial A$4.6-million will be raised through a two tranche placement to new and existing institutional and sophisticated investors. 

Vimy raises cash for Mulga Rock

Brazil's Vale has not decided on sale of fertiliser unit – filing

By: Reuters     23rd September 2016 The board of directors of Brazilian mining company Vale has not yet made a decision on selling a stake in its fertiliser unit, the company said in a securities filing on Thursday. The Rio de Janeiro-based company, the world's largest exporter of iron ore, is still looking for a strategic partner... 

Nevada Sunrise signs definitive agreement for Gemini JV with Eureka

By: Henry Lazenby     22nd September 2016 TSX-V-listed explorer Nevada Sunrise and 50:50 joint venture (JV) partner Eureka Resources have formalised their relationship with regard to the Gemini lithium project with the signing of a definitive JV agreement. Nevada Sunrise acquired the Gemini project, located in Nevada’s Lida Valley, in... 

Metanor to move quickly with Barry start-up on positive PEA

By: Henry Lazenby     22nd September 2016 Project developer Metanor Resources will move quickly with the start-up of operations at its Barry project, in Quebec, after publishing positive results of a preliminary economic assessment on Thursday. Prepared by GoldMinds Geoservices, the C$8.5-million start-up cost for the project paled in... 

Armadale to increase focus on Tanzania graphite project

By: Megan van Wyngaardt     22nd September 2016 Investment company Armadale Capital will increase its focus on further developing its Mahenge Liandu graphite project in southeast Tanzania, as it represented an “exciting new investment”. Being a key element in the global battery market, the potential of the graphite prospect led to a successful... 

Ugandan firm to open gold refinery by end of 2016

By: Reuters     22nd September 2016 A Ugandan company backed by a Belgian investor is due to open the East African country's first gold refinery by the end of this year to process raw gold produced mainly from the region, a senior company official told Reuters. Uganda's mineral reserves are generally viewed as under exploited.... 

Mining Indaba opens the door for more emerging miners to participate

By: Mia Breytenbach     22nd September 2016 The Investing in African Mining Indaba has “recreated a platform for the emerging or smaller miner to participate at a palatable price point”, says outgoing Mining Indaba MD Jonathan Moore. Mining Indaba in June announced price reductions of up to 50% for mining corporates, as many companies had... 

Mining Indaba opens the door for more emerging miners to participate
Photo by Duane Daws
Outgoing Mining Indaba CEO Jonathan Moore and his successor Alex Grose

Resources Watch 

     22nd September 2016 ARM keen to do more in platinum; And, mines need to rethink traditional business models, says software developer 

Resources Watch

Kibo appoints Absa as Mbeya Project’s financial adviser

By: African News Agency      22nd September 2016 Kibo Mining on Thursday said it had signed an advisory engagement letter with Absa Bank laying out the scope of work and terms under which it will act as financial advisor on the Mbeya Coal to Power Project (MCPP). Kibo is developing a 250 MW to 350 MW mouth-of-mine thermal power station in its... 

Assmang investigates sexual harassment complaint against Black Rock Mine manager

By: African News Agency      22nd September 2016 Black Rock Mine on Wednesday said it was investigating an internal complaint of sexual harassment involving a manager and a female employee. The investigation was initiated after the National Union of Mineworkers (NUM) reported the matter to senior management last week. NUM said the alleged... 

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Barberton tailings plant shoots lights out with cheap, upped gold

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Pan African investigating R1.7bn gold tailings project

Mine land, water should be used for agriculture – Exxaro

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