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Amplats restores dividend, productivity soars, six die

By: Martin Creamer     Updated 1 hour 45 minutes ago Six employees died in a year in which Anglo American Platinum (Amplats) chalked up R2.4-billion in free cash flow generated from its operations, doubled return on capital employed to 18% and reintroduced a cash dividend for the first time in seven years. Productivity has soared by 58% since 2012... 

Amplats restores dividend, productivity soars, six die
Photo by Duane Daws
Amplats CEO Chris Griffith and FD Ian Botha

Bauba launches Moeijelijk underground chrome development

By: Anine Kilian     Updated 58 minutes ago JSE-listed Bauba Platinum officially launched the underground development phase of its Moeijelijk chrome mine, in Limpopo, on Friday. Speaking to Mining Weekly Online, CEO Nick van der Hoven said the mine, which is set to create about 400 direct and indirect jobs by December, has already started... 

Bauba launches Moeijelijk underground chrome development
Photo by Duane Daws
Bauba CEO Nick van der Hoven

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

Acacia considers selling stake in Tanzania operations

By: Schalk Burger     Updated 2 hours 9 minutes ago Tanzanian gold miner Acacia Mining is considering the possible sale of a stake in some or all of its Tanzanian operations. “The company is engaging with a small number of potential investors, the process remains at a very early stage and there can be no certainty that an agreement will be... 

Glencore, Randgold form group to challenge Congo law changes

By: Bloomberg     Updated 2 hours 56 minutes ago Glencore and Randgold Resources are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body. In a letter sent to Congolese President Joseph Kabila on... 

Zimbabwe, Botswana set to sign diamond deal – report

By: News24Wire      Updated 2 hours 42 minutes ago Zimbabwe is reportedly set to sign a diamond processing deal with Botswana within the next three months, after President Emmerson Mnangagwa met with his counterpart, President Ian Khama, this week in Gaborone. According to the state-owned Herald newspaper, Mnangagwa was in Botswana on a state visit. 

Mining sector unloved as investors find it hard to trust

By: Reuters     17th February 2018 Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took... 

Jobs summit announced as Ramaphosa delivers message of ‘hope and renewal’

By: Terence Creamer     16th February 2018 President Cyril Ramaphosa, who sought to align his nascent presidency as closely as possible with that of President Nelson Mandela in his inaugural State of the Nation (SoNa) address on Friday night, announced that a jobs summit would be convened in the coming months to allow social partners to... 

Jobs summit announced as Ramaphosa delivers message of ‘hope and renewal’
President Cyril Ramaphosa

DMR, CoM agree to postpone Mining Charter court action

By: Dylan Slater     Updated 37 minutes ago Monday’s scheduled High Court case against the hotly-contested Mining Charter 3 has been postponed following intervention by newly elected President Cyril Ramaphosa, in what is widely seen as decisive step forward in overcoming a lengthy dispute between industry and the Department of Mineral... 

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 Gobal equity markets have been extremely volatile in recent weeks, extending a frantic sell-off of US stocks, which culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Yanfolila ramp-up on track - Hummingbird

By: Simone Liedtke     16th February 2018 Since first gold was poured at Aim-listed Hummingbird Resources' Yanfolila gold mine, in Mali, on December 19, the mine has steadily been ramping up towards full production, in line with the company's planned schedule. "I am pleased that activity on site is steadily progressing as per the ramp-up... 

South32 appoints chief technology officer

By: Simone Liedtke     16th February 2018 Vanessa Torres, who has over 25 years of experience in the mining and metals sector, has been appointed chief technology officer at diversified miner South32. "We see technology as a key enabler in driving safety and production improvements at our operations, and Vanessa's knowledge and... 

High Court to hear communities' arguments against Mining Charter on Monday

By: Simone Liedtke     16th February 2018 Mining community networks, which will represent over 150 activists and community-based organisations, will be in the Pretoria High Court from Monday next week to challenge the Mining Charter published by the Department of Mineral Resources in June last year. Mining Affected Communities United in... 

Birimian settles tax issues through full disclosure

By: Schalk Burger     16th February 2018 ASX-listed lithium and gold exploration company Birimian has settled with the Australian Tax Office (ATO), which waived all penalties in relation to tax obligations after the Mali-focused company made voluntary disclosures of all its financial statements since August. The penalties were in... 

Top banks' 2017 commodities revenue drops 42% to lowest since 2006

By: Reuters     16th February 2018 Commodities-related revenue at the 12 biggest investment banks fell by 42% last year to its lowest since at least 2006, a report by financial industry analytics firm Coalition said on Friday. 

Mining Weekly iPhone and Android Apps available for free download 

     16th February 2018 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

Po Valley declares maiden reserve for Teodorico

By: Creamer Media Reporter      Updated 54 minutes ago Australia’s Po Valley Energy, which is in the process of selling its Italian operations to Aim-listed Saffron Energy, has declared a maiden 2P reserve of 36.5-billion cubic feet of gas at the Teodorico gasfield, offshore Italy. Teodorico has the largest gas in place of all of Po Valley’s... 

Mincor starts preproduction activities at WA gold project

By: Simone Liedtke     Updated 1 hour 7 minutes ago The board of ASX-listed Mincor Resources has approved preproduction activities at its Widgiemooltha gold project (WGP), in Western Australia. The start of the preproduction activities will ensure that the company remains on track to be able to progress to full-scale mining operations at... 

Red 5 plans A$4m takeover as part of Eastern Goldfields consolidation strategy

By: Simone Liedtke     Updated 1 hour 10 minutes ago ASX-listed gold mining junior Red 5 on Monday announced that it intended to make a hostile takeover offer for all the fully-paid ordinary shares in Western Australian company Bullseye Mining. Bullseye is an unlisted public company, whose gold portfolio includes the Laverton project, about 30 km... 

Red 5 plans A$4m takeover as part of Eastern Goldfields consolidation strategy

Australian Mines signs offtake deal with Korea's SK Innovation

By: Reuters     Updated 1 hour 19 minutes ago Battery and technology metals developer Australian Mines said on Monday it signed a deal with Korea's SK Innovation to supply cobalt sulphate and nickel sulphate from its flagship Sconi project. The commodity off-take agreement, which is for an initial period of seven years, is for SK... 

Nornickel tycoons said to avoid shoot-out sale in share dispute

By: Bloomberg     Updated 2 hours 44 minutes ago Billionaires Oleg Deripaska and Vladimir Potanin’s working arrangement at MMC Norilsk Nickel is starting to fray, but the tycoons aren’t planning to trigger a so-called shoot out - a forced auction where the losing bidder must sell his stake to the winner, three people familiar with situation... 

Nornickel tycoons said to avoid shoot-out sale in share dispute
Oleg Deripaska

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     Updated 2 hours 57 minutes ago Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

US seeks to boost output of 35 minerals, reduce import reliance

By: Reuters     17th February 2018 The United States should boost domestic production of 35 critical minerals including uranium, cobalt and lithium, to reduce its reliance on foreign suppliers, the Interior Department said on Friday. Aluminium and potash are also on the draft list of 35 critical materials used in basic... 

US seeks to boost output of 35 minerals, reduce import reliance

Vale notches record iron-ore output in 2017, sales slip

By: Reuters     16th February 2018 Brazilian miner Vale said on Friday that total iron-ore output reached a record of 366.5-million tonnes last year, boosted by record high production from its so-called northern system, even as iron ore sales slipped slightly from 2016. The northern system, composed of its Carajás, Serra Leste... 

Alrosa reviews submissions for Mir reopening

By: Simone Liedtke     16th February 2018 Diamond miner Alrosa has opened a contest with a 1.5-million-rouble reward for the best solution to resume underground mining at its Mir deposit, where operations were suspended in August last year owing to a flood that killed eight people. The company said this week that it had received and... 

Latin Resources secures lithium projects in San Luis, Argentina

By: Simone Liedtke     16th February 2018 ASX-listed mineral exploration company Latin Resources has secured 100% ownership of Condor lithium concessions in San Luis, Argentina, through the signing of a terms sheet with Kontrarian Resources Fund No 1. The concessions are in the vicinity of historic lithium mines. Smaller scale pegmatite... 

Mitsui to raise stake in Chile's Collahuasi copper mine

By: Reuters     16th February 2018 Japanese trading house Mitsui & Co said on Friday it will reshuffle its copper assets in Chile, increasing its stake in the Collahuasi mine and selling a small stake in the Los Pelambres mine, boosting its overall copper volumes. Mitsui said it would buy a 3.6% stake in Collahuasi from JX Nippon... 

Gold, platinum miners bolster business, operational plans 

     16th February 2018 It’s been an exciting week for some gold and platinum miners, with plans to improve business and operations. Mining Weekly editor Martin Creamer unpacks the headlines. 

Gold, platinum miners bolster business, operational plans.

Test results support Cadoux project’s HPA flowsheet

By: Schalk Burger     16th February 2018 Metallurgical tests conducted as part of the prefeasibility study (PFS) at ASX-listed FYI Resources’ Cadoux Kaolin project, in Western Australia, have validated the high-purity alumina (HPA) flowsheet for the project. The outstanding metallurgical test results returned excellent leach extractions... 

Galantas planning appeal hearing concluded

By: Simone Liedtke     16th February 2018 An appeal brought by a third party against Aim- and TSX-V-listed gold producer and explorer Galantas Gold's planning consent for the Omagh gold mine development has completed the hearing stage. The Court of Appeal at the Royal Courts of Justice in Belfast, Northern Ireland, heard the appeal... 

Fortescue's Aboriginal programme hits A$2bn mark

By: Simone Liedtke     16th February 2018 Iron-ore major Fortescue Minerals' 'billion opportunities programme' has reached the A$2-billion-mark, with 250 contracts and sub-contracts having been awarded to 110 Aboriginal businesses and joint ventures in the seven years since its inception. CEO Nev Power said on Friday that the programme... 

Beowulf is back drilling at Aitolampi, Finland

By: Creamer Media Reporter      16th February 2018 Aim-listed Beowulf has started drilling at its Aitolampi graphite project, which forms part of the Pitkäjärvi 1 exploration permit in Finland. The company has plans to drill about 2 000 m, up to 15 drill holes, with the drilling programme split into two phases. The drilling contract has been... 

Petropavlovsk announces CFO resignation

By: Creamer Media Reporter      16th February 2018 London-listed miner Petropavlovsk has initiated a search for a new CFO, following the resignation of Audrey Maruta, who will depart from the company on April 1. Maruta will leave after the 2017 audited accounts are approved and will also provide consultancy services to Petropavlovsk for several... 

Newcrest expects output to grow as shakes off disruptions

By: Bloomberg     16th February 2018 Australia's top gold miner, Newcrest Mining, expects output to grow in the coming months as its flagship site gradually ramps up after operations there were hit by an earthquake last year, its chief executive said on Friday. That comes a day after the company reported a 58% slide in underlying... 

Sweden hunts for cobalt as electrical vehicle race boosts demand

By: Bloomberg     16th February 2018 Sweden will step up efforts to find precious minerals such as cobalt and lithium, key battery components that are increasingly in demand among makers of electric vehicles. The government will invest 10-million kronor ($1.26-million) over the next two years to map the existence of minerals... 

Sweden hunts for cobalt as electrical vehicle race boosts demand

Russia's mining billionaires are back to fighting over Nornickel

By: Bloomberg     16th February 2018 The billionaire owners of Russia’s biggest mining company have revived a years-old feud. Oleg Deripaska, one of the top shareholders of MMC Norilsk Nickel, wants to stop Roman Abramovich from selling a stake in the company that may worth $1.5-billion, according to three people familiar with... 

Rio Tinto considering power options for Oyu Tolgoi

By: Mariaan Webb     16th February 2018 Global miner Rio Tinto is considering its options for domestic power generation for the Oyu Tolgoi mine, including building an on-site power station, the company said on Friday, as it confirmed that the government of Mongolia had terminated a framework agreement for an energy plan for the South... 

Rio Tinto considering power options for Oyu Tolgoi
Rio Tinto has to find a domestic power source for Oyu Tolgoi within four years.

BHP Billiton expects drilling of first new Trion well to begin in October

By: Reuters     16th February 2018 Drilling of the first new exploration well in BHP Billiton's deepwater Trion project will begin in October, part of a plan approved by Mexican regulators on Thursday that also revised downward the project's estimated oil and gas resources. Australian mining and oil giant BHP Billiton won the... 

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