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Pt 985.00 $/oz Change: 3.50

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Plant shutdowns impact Vedanta's Q3 output

By: Megan van Wyngaardt     Updated 1 hour 32 minutes ago Despite lower output at its zinc operations in the third quarter of the current financial year, diversified miner Vedanta Resources says it is still on track to achieve its stated guidance of higher mined metal production for the full year. Its total production across operations for the quarter... 

Plant shutdowns impact Vedanta's Q3 output

Kibo receives second-stage environmental approval for MCPP

By: Megan van Wyngaardt     Updated 7 hours ago Tanzania’s National Environmental Management Council (NEMC) has approved dual-listed Kibo Mining’s Mbeya coal mine and power plant’s environmental- and social-impact assessment (Esia) scoping reports. This concluded the second stage of three required during the statutory Esia approval process and... 

Ferrum, BVI in talks over delayed Moonlight BFS

By: Megan van Wyngaardt     Updated 5 hours ago A farm-in and joint venture agreement between triple-listed metals project developer Ferrum Crescent and Business Venture Investments (BVI) has stalled, after the latter failed to complete the first phase of a bankable feasibility study (BFS) at Ferrum’s Moonlight iron-ore project, in Limpopo. In... 

PTM aims at positive Maseve cash flow by midyear, looking at interim financing options

By: Henry Lazenby     14th January 2017 To achieve positive cash flow and to maintain its working capital covenants under existing loan facilities, Vancouver-based Platinum Group Metals (PTM) estimates that it needs to source between C$5-million and C$15-million of additional funding. The company would weigh options, including... 

Competition authorities approve Kgalagadi Manganese takeover

By: Megan van Wyngaardt     Updated 1 hour 47 minutes ago The Competition Tribunal has approved the merger between Kgalagadi Alloys and Kalagadi Manganese without conditions. Kgalagadi Alloys will acquire Northern Cape-based Kalagadi Manganese. 

Acacia confirms merger talks with Endeavour Mining

By: Reuters     14th January 2017 old miner Acacia Mining said on Friday it was in early talks about a possible merger with Canadian gold miner Endeavour Mining. Acacia, which operates mines and exploration projects in Tanzania, Kenya, Burkina Faso and Mali, was responding to media reports. 

Acacia confirms merger talks with Endeavour Mining

Kenmare lifts FY17 production guidance as market looks positive

By: Megan van Wyngaardt     Updated 2 hours 50 minutes ago LSE-listed Kenmare Resources on Monday adjusted its production guidance for this year to between 950 000 t and 1.05-million tonnes of ilmenite, 5% to 16% higher than production for 2016, owing to increased utilisation and recovery rates at its Moma titanium minerals mine, in Mozambique. The miner... 

Sweden's Atlas Copco proposes splitting group, appoints new CEO

By: Reuters     Updated 5 hours ago Swedish mining gear and compressor maker Atlas Copco plans to split the group into two listed companies in 2018 and distribute the equity in the new company to shareholders. The news, which was not expected, is another piece in a wider European trend where a wave of spin-offs through initial... 

Probe into Indian coal mine disaster likely to be expanded

By: Ajoy K Das     Updated 7 hours ago The investigation into the Lalmatia coal mine disaster in India that killed 18 and injured scores of others may be expanded to include federal agencies. The mine collapse is being investigated by the Directorate General of Mines Safety (DGMS) and is being monitored by the Ranchi High Court.... 

Iron-ore opens 2017 with a bang after flaying skeptics last year

By: Reuters     Updated 41 minutes ago Iron-ore has carried last year’s bullish momentum into the start of 2017, with prices rallying to a two-year high amid speculation that China’s demand for overseas ore will hold up even as the world’s largest miners bring on new capacity. Ore with 62% content in Qingdao in China climbed 3.9% to... 

S Australia expects ‘positive outcome’ on Alcoa Portland talks soon

By: Esmarie Swanepoel     Updated 6 hours ago Aluminium major Alcoa and the federal and South Australian governments are continuing discussions over the future of the Portland smelter, with the state government saying that significant progress has been made. “All parties are committed to working towards finalising a positive outcome in the... 

S Australia expects ‘positive outcome’ on Alcoa Portland talks soon

Regis Q2 output rises 7%, on track to meet FY guidance

By: Esmarie Swanepoel     Updated 6 hours ago Gold miner Regis Resources has reported its highest quarterly production in the three months to December since 2014. Gold production during the quarter reached 80 090 oz, which was at the upper-end of the yearly guidance range, the miner said on Monday. Production was 7% higher than the first... 

Financier fails to provide funding for GBM’s Mt Coolon redevelopment

By: Esmarie Swanepoel     Updated 6 hours ago Junior GBM Resources is weighing its options after its financier, National Federal Capital (NFC), failed to deliver on a loan agreement. The two parties in October entered into a A$10-million loan agreement to advance the redevelopment of the Mt Coolon gold project, in Queensland. Under the... 

Whitehaven reports solid coal sales

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed Whitehaven Coal, which mines in New South Wales' Gunnedah basin, has reported record quarterly and half-year metallurgical coal sales for the three and six months ended December. The miner reported on Monday that quarterly metallurgical coal sales had reached 1.2-million tonnes in the... 

Whitehaven reports solid coal sales

Tawana starts feasibility work at Bald Hill

By: Esmarie Swanepoel     Updated 6 hours ago The Bald Hill lithium and tantalum project, in Western Australia, has moved into the feasibility study stage, following a positive conceptual engineering study. “We are extremely pleased with the outcome of the conceptual study at the Bald Hill mine. This has allowed us to move confidently into... 

Victory raises cash for Bolivian work

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed Victory Mines will raise some A$2.4-million in a share placement to institutional investors, to fund the exploration and development work at its Bolivian projects. The junior on Monday said that it will place 208.83-million shares, at 1.1c each, to raise the funds. 

Uranium Resources hopes to raise A$9.7m

By: Esmarie Swanepoel     Updated 6 hours ago Energy metals company Uranium Resources is hoping to raise about A$9.7-million through a public offering of 4.8-million shares at A$2.01 each. Proceeds from the raising will be used to fund ongoing business activities, which Uranium Resources said could include technical studies, capital... 

Empire signs option over Evolution ground

By: Esmarie Swanepoel     Updated 6 hours ago Gold developer Empire Resources has entered into a two-year option agreement to acquire gold miner Evolution Mining’s interest in two prospective copper/gold licences in Western Australia. Under the terms of the agreement, Empire will meet all the expenditure commitments, while retaining an... 

Gold rises on Trump uncertainty, Brexit concerns

By: Reuters     Updated 7 hours ago Gold rose on Monday, buoyed by safe-haven demand due to uncertainty over US policy ahead of President-elect Donald Trump's inauguration and amid concerns over Britain's exit from the European Union. Spot gold had risen 0.5% to $1 203.15/oz by 0548 GMT. 

China's top coal province to cut 20Mt of capacity in 2017 - Xinhua

By: Reuters     Updated 7 hours ago China's top coal-producing province Shanxi will cut 20-million tonnes of output capacity this year, state news agency Xinhua reported. Tackling excess coal production capacity will remain the provincial government's priority in 2017, Xinhua quoted Shanxi Governor Lou Yangsheng as saying on... 

Lower costs, higher grades are key for U3O8 to attract attention in difficult market

By: Henry Lazenby     14th January 2017 Uranium-focused resource companies paid attention to the changing uranium landscape this week after major producer Kazakhstan said it would curtail output by 10%, pushing spot prices higher. One of them was project developer U3O8 Corp, which is focused on uranium and by-product commodities at its... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs

By: Henry Lazenby     13th January 2017 News this week that Kazakhstan will curtail its uranium output by about 10% this year has sent spot prices to the highest levels since September, provoking cautious optimism among market observers that the trough has been traversed. “I think that this move signals a fundamental change in... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs
Photo by Fission Uranium
Fission Uranium chairperson and CEO Dev Randhawa

Five mining legends to be inducted to Canadian hall of fame

By: Creamer Media Reporter      13th January 2017 The Canadian Mining Hall of Fame will induct five mining celebrities into the list of extraordinary mining leaders at the annual dinner to be held for the first time at the Metro Toronto Convention Centre. According to a news release, Canadian mining celebrity Robert McEwen leads the list of... 

DiamondCorp embarks on £1m raising for Lace mine

By: Natasha Odendaal     13th January 2017 Dual-listed DiamondCorp has embarked on a conditional placing to raise the capital required to fund critical expenditure requirements of the Lace diamond mine during the Phase 1 business rescue process. The expected gross proceeds of £1-million from the bookbuild, if successful, will pave the way... 

Geopolitical tensions, other factors to boost gold demand this year

By: Megan van Wyngaardt     13th January 2017 Heightened political and geopolitical risks, currency depreciation, expectations of rising inflation, inflated stock market valuations, long-term Asian growth and the opening of new markets are all expected to positively influence demand for gold and gold’s performance this year, says the World... 

Geopolitical tensions, other factors to boost gold demand this year

Solidarity cautious on Barbrook mine business rescue promises

By: Natasha Odendaal     13th January 2017 Trade union Solidarity on Friday vowed to do all it can to prevent the embattled Barbrook mine, in Mpumalanga, from following in the footsteps of its sister mine as it heads into business rescue. However, the union was hesitantly cautious on the commitments made by the business rescue... 

Zim gold producer claims ownership of cargo on crashed plane

By: News24Wire      13th January 2017 A leading gold producer, developer and explorer in southern Africa, Metallon Corporation, has claimed ownership of the gold that was being transported by a private plane that crash-landed in southern Zimbabwe on Tuesday, putting to rest speculation that the mineral was being smuggled out of the... 

Egypt’s revival in gold mining to boost exports, generate foreign reserves

By: Megan van Wyngaardt     13th January 2017 London-based research firm BMI Research has earmarked Egypt as a mining country to watch, given that its gold mining sector is expected to record strong growth of about 6% a year between 2017 and 2021. The firm noted that the country, which could see output of 740 000 oz/y by 2021, was inviting... 

Shining iron-ore future for Sierra Leone possible as Chinese investors commit

By: Natasha Odendaal     13th January 2017 The $700-million planned injection by Chinese State-owned mining company Shandong Iron and Steel into an iron-ore processing plant at the Tonkolili mine, in Sierra Leone, has further cemented the West African region’s strong mining outlook, BMI Research said on Friday. The new investment, which... 

Ariana Resources raises funds to advance Turkey gold projects

By: Megan van Wyngaardt     13th January 2017 Aim-listed Ariana Resources has raised £900 000 through an oversubscribed placing of 56.2-million new ordinary shares at 1.6p apiece. The proceeds will be used to advance the company's projects outside of Kiziltepe, in Turkey, which includes the 475 000 gold equivalent ounce Red Rabbit project,... 

India considering minimum import price on aluminium - govt official

By: Reuters     13th January 2017 India is considering imposing a minimum import price on aluminium, the top bureaucrat in the ministry of mines said on Friday. "MIP (Minimum Import Price) on aluminium is under consideration. We will take a week to send our recommendation forward," the mines secretary Balvinder Kumar told Reuters. 

Production up 17% at Rio Tinto’s Era subsidiary

By: Esmarie Swanepoel     13th January 2017 Uranium miner Energy Resources of Australia (Era) has reported a 17% surge in production for the full year ended December, despite a drop in December quarter production. The Rio Tinto subsidiary on Friday reported that uranium oxide production in the fourth quarter to December reached 603 t,... 

Rio’s Kennecott abandons Mexico JV with junior Azure

By: Esmarie Swanepoel     13th January 2017 The share price of junior Azure Minerals tumbled by 17% on Friday after a subsidiary of Rio Tinto abandoned a potential copper/gold/silver joint venture project, in Mexico. The subsidiary, Kennecott Exploration Mexico, had been conducting exploration programmes over the Promotorio asset since... 

PT Antam has high hopes for 2017

By: Esmarie Swanepoel     13th January 2017 ASX-listed PT Antam has upped its ferronickel and gold production and sales targets for 2017. The miner on Friday told shareholders that ferronickel production in 2017 was expected to be 30% higher than that achieved in 2016, at 18 500 t, following the completion of its Pomalaa ferronickel plant... 

Image doubles resources in WA

By: Esmarie Swanepoel     13th January 2017 Mineral sands developer Image Resources has doubled the mineral resource at its Boonanarring mineral sands project, in Western Australia. As part of a bankable feasibility study (BFS) on its Boonanarring and Atlas deposits, Image updated the Joint Ore Reserves Committee-compliant resource... 

Appea dismisses claims that Victoria gas ban will not affect prices

By: Esmarie Swanepoel     13th January 2017 The Australian Petroleum Production and Exploration Association (Appea) has again called on Victoria to reconsider its ban on onshore gas exploration and development, dismissing claims by the state government that the ban will not affect gas prices for local residents. “This issue goes beyond... 

Appea dismisses claims that Victoria gas ban will not affect prices

First Graphite gets feedstock in Sri Lanka

By: Esmarie Swanepoel     13th January 2017 Junior First Graphite has inked a purchase agreement with Sri Lanka government-owned Kahatagah Graphite Lanka (KGLL) to purchase all its premium-grade vein graphite for a two-year period. The sales agreement will ensure that First Graphite has a sufficient supply of graphite to commission and... 

Artemis hopes to consolidate shares

By: Esmarie Swanepoel     13th January 2017 ASX-listed Artemis Resources is planning a 1-for-20 share consolidation. The company currently has more than 4.34-billion shares on issue, and the share consolidation will result in a post-consolidation 217.2-million shares on issue, with the structure being more appropriate for the company... 

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