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Top iron-ore firms unlikely to form cartel and cut output - Goldman

By: Reuters     Updated 3 hours ago Major iron-ore miners from Australia and Brazil are unlikely to create a cartel and agree on output cuts to shore up prices, with weakening demand expected to intensify competition, Goldman Sachs said. "Efforts to support prices via voluntary production cuts would be counter-productive. In our... 

Top iron-ore firms unlikely to form cartel and cut output - Goldman

Chinese firm to visit Edenville’s Tanzania project site

By: Natasha Odendaal     Updated 6 hours ago Representatives from Chinese firm Shandong Electric Power Construction No 2 (Sepco2) will make their way to Tanzania to review London-listed Edenville Energy’s Rukwa coal project with a view to potentially forming a partnership. The Tanzania-focused coal-based energy group on Wednesday said that... 

Zambia cuts power as dam level drops on drought

By: Reuters     Updated 5 hours ago Africa's second-biggest copper producer Zambia has cut its power generation by 300 MW after water levels in the Kariba dam, a key source of hydropower, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia planned to reduce its hydropower... 

Zambia cuts power as dam level drops on drought

Ports and railways tasked to help India curb illegal mining

By: Ajoy K Das     Updated 5 hours ago India’s federal government announced it would involve logistical service providers, including ports and railways, along with provincial governments, in the monitoring of illegal mining activity across the country. Each of the provinces had been directed to set up Coordination and Empowered... 

Underground lab cuts copper analysis turnaround time at Palabora

By: Natalie Greve     Updated 5 hours ago Analytical chemistry specialists Set Point Laboratories has been awarded a contract to manage and operate a newly established underground laboratory at the Palabora Mining Company in Limpopo, enabling closer monitoring of ore copper concentrations as the operation moves to a new mining level. Set... 

Nyota to raise funds for exploration at Italian nickel play

By: Natalie Greve     Updated 2 hours 58 minutes ago Dual-listed Nyota Minerals has announced the conditional placing of 545.4-million new ordinary shares of 0.06p apiece to raise £300 000 for general working capital and to fund the exploration of its nickel and associated base and precious metals project, in the Piemonte region of Italy. The... 

China's Zijin buys stakes in gold, copper projects

By: Reuters     Updated 7 hours ago China's Zijin Mining Group , which announced two acquisitions on Tuesday for more than $700-million, believes now is the good time to buy overseas assets as the mining sector is weak, a senior executive said on Wednesday. "In terms of acquisitions, now is the low level (of prices), good... 

London Metal Exchange aims to boost liquidity, electronic trading

By: Reuters The London Metal Exchange (LME) took more steps on Tuesday to boost liquidity by making it easier for new members, including US speculators, to have direct access to its electronic trading system. The LME's owner, Hong Kong Exchanges and Clearing, has been striving to increase LME volumes and... 

Fortescue insists it pays full share of tax to Australia, downplays Singapore company

By: Mariaan Webb     Updated 4 hours ago Iron-ore miner Fortescue Metals, which has publicly taken on multinational firms such as Rio Tinto and BHP Billiton over their marketing hubs in Singapore, on Wednesday downplayed the importance of a company it had set up in the low-tax island city state in early 2014. Responding to an article in... 

Atlas Iron expects up to A$160m impairment charge

By: Mariaan Webb     Updated 6 hours ago ASX-listed Atlas Iron, which has recently restarted its Pilbara operations, said on Wednesday that it would book an estimated noncash impairment charge of between A$130-million and A$160-million at the end of June, after updating the carrying value of its assets following a further reduction in... 

Atlas Iron expects up to A$160m impairment charge

Creamer Media publishes Gold 2015: A review of South Africa's gold sector electronic research report

In this context Creamer Media’s Gold 2015 report reviews the global gold market and gold companies that have operations in Africa. It particularly focuses on the South African gold sector, including labour issues and electricity shortages, as well as prospects for the sector. 

Creamer Media publishes Gold 2015: A review of South Africa's gold sector electronic research report

Implats terminates Marula disposal process

By: Creamer Media Reporter      Updated 7 minutes ago JSE-listed Impala Platinum (Implats) has decided not to sell its Marula operation, in Limpopo, and plans to improve the performance of the operation instead. The platinum miner announced in February that it would sell Marula, as part of measures to conserve cash. 

Definition study enhances Unicorn business case, slashes capex – Dart

By: Mariaan Webb     Updated 4 hours ago A project definition study of the Unicorn molybdenum, copper, silver and zinc project, in Victoria, has significantly improved the project definition and business case, ASX-listed Dart Mining reported on Wednesday. The company started a 15-month study of the project in March last year, following... 

New Metallica chairperson named

By: Creamer Media Reporter      Updated 6 hours ago Development and exploration company Metallica Minerals has appointed Barry Casson its independent nonexecutive chairperson, with effect from June 30, to succeed long-standing chairperson David Barwick, who is retiring as a director. Casson joined the Metallica board on December 1, 2010, as an... 

Doray finalising Deflector funding as it terminates metals stream

By: Creamer Media Reporter      Updated 6 hours ago ASX-listed Doray Minerals has reached an agreement with Sandstorm Gold to terminate the metals purchase agreement over the Deflector gold project, which MD Allan Kelly said on Wednesday would simplify the financing process for the Western Australian project. Sandstorm previously loaned $6-million... 

Ramelius board approves Vivien underground gold mine

By: Mariaan Webb     Updated 7 hours ago The board of ASX-listed Ramelius Resources has given its approval to start mining at the Vivien gold project, near Leinster in Western Australia, which the company bought from Gold Fields in July last year. Ramelius said on Wednesday that it would mine the Vivien deposit as a three-year... 

Rockfall traps nine miners in Iamgold mine in Quebec

By: Reuters Rescuers were clearing rocks to free nine miners trapped about 1 km underground at Iamgold's Westwood gold mine, in Quebec, on Tuesday after a rockfall, a company spokesperson said. The miners, who have been trapped more than 12 hours, were uninjured and in constant contact with mine officials... 

Barrick investors welcome Chinese tie-up, debt reduction moves

By: Reuters Barrick Gold's first step to long-promised partnerships with China, as well as progress in reaching an ambitious debt-cutting goal, are turning sceptical investors warmer toward the world's biggest gold miner. Barrick said on Tuesday it would sell a stake in its Porgera mine in Papua New Guinea... 

Iamgold pays Sanatana more than $400 000 following failed easement application

By: Henry Lazenby Canadian explorer and project developer Sanatana Resources has received $403 189.86 from international gold producer Iamgold, who paid on behalf of subsidiary Trelawney Mining and Exploration, for the full costs awarded by the Ontario Mining and Lands Commissioner (MLC) regarding Trelawney's... 

Platinum project partners consolidate Waterberg JV, Extension projects

By: Henry Lazenby The joint venture (JV) partners of the South Africa-based Waterberg JV and the Waterberg Extension have agreed to consolidate the platinum projects into a unitised project area, following a firm $20-million funding commitment from JV partner Japan Oil, Gas and Metals National Corporation... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

By: Henry Lazenby One of China’s largest mining companies Zijin Mining Group has extended its global reach after forming two new long-term mining partnerships with Western miners, while sustaining an aggressive pursuit of an Australian gold miner.  The world’s largest gold producer by output Barrick Gold on... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

Zuma promises to release Marikana report

By: RDM News Wire President Jacob Zuma has told parliament that he will release the report of the Farlam commission of inquiry into the Marikana massacre by the end of next month. Zuma was responding to mounting pressure‚ including a threatened court action by the families of the victims of the incident which saw... 

Zuma promises to release Marikana report
Photo by Duane Daws
President Jacob Zuma

Zim tungsten mine construction remains on track

By: Megan van Wyngaardt JOHANNESBURG (miningweekly.com) – Progress in the construction of the RHA Tungsten project, in Zimbabwe, was progressing on schedule , multicommodity resource and development company Premier African Minerals reiterated on Tuesday. Processing plant manufacturer Appropriate Process Technologies... 

Nedbank clinches African mining financing deals worth $540m

By: Martin Creamer Nedbank has closed $540-million worth of mining financings on the continent of Africa in the last 18 months. Speaking to Creamer Media’s Mining Weekly Online on Tuesday, Nedbank Capital international mining finance head Nivaash Singh said the bank was very much open for business in Africa and... 

Nedbank clinches African mining financing deals worth $540m
Photo by Duane Daws
Nivaash Singh

Ivanhoe, Zijin Mining partner to develop DRC copper discovery

By: Natalie Greve Canadian mineral explorer Ivanhoe Mines and China’s Zijin Mining Group have agreed to codevelop the Kamoa copper discovery, in the Democratic Republic of Congo (DRC). Under the terms of the agreement, Zijin, through its subsidiary Gold Mountains International Mining, would buy a 49.5% interest in... 

Ivanhoe, Zijin Mining partner to develop DRC copper discovery
Kamoa

Jubilee Platinum raises R11m to fund surface projects

By: Natalie Greve Dual-listed Jubilee Platinum has completed a placing of 37.5-million new ordinary shares at a price of 1.6p apiece to raise some R11.1-million to fund the continued development of its surface platinum processing projects in South Africa. The company said in a statement on Tuesday that its surface... 

Does Eskom have a maintenance plan? 

By: Terence Creamer When the Eskom board suspended four executives in March, Public Enterprises Minister Lynne Brown based her support for the move largely on what she perceived as a lack of “credible information” flowing from the managers on a range of issues, including plant instability and maintenance. In the... 

Does Eskom have a maintenance plan?

ANZ launches first Australia bank ETFs in $14bn market

By: Reuters ANZ Banking Group said on Tuesday it would launch six exchange traded funds (ETFs) linked to currency, gold and equities, the first of Australia's major banks to venture into the fast-growing A$18-billion ($14-billion) domestic ETF market. ANZ, Australia's third largest lender by market value,... 

Mining to kick off at Lace mine ahead of schedule in H2

By: Natalie Greve Diamond developer DiamondCorp says development of the Upper K4 (UK4) mining block, at its flagship Lace diamond mine, in the Free State, is on schedule for mining operations to start in the second half of the year – several months ahead of the original development schedule. Underground core... 

Lobbying helped kill Australia iron ore inquiry - Senator

By: Reuters Lobbying by big miners helped kill a proposed Australian Senate inquiry into the iron ore industry after allegations they had colluded to depress prices and drive rivals out of business, the senator who had called for the inquiry said on Tuesday. Independent Senator Nick Xenophon had wanted the... 

Mincor restructures Kambalda ops in response to nickel price weakness

By: Esmarie Swanepoel Australian nickel miner Mincor on Tuesday announced a revised mining plan at its operations in the Kambalda nickel district of Western Australia, which would lower capital spend and make about 50 positions redundant. In response to the ongoing weakness in the nickel price, Mincor said it would... 

Mwana execs to lead Chamber of Mines of Zimbabwe

By: Creamer Media Reporter London-listed multicommodity miner Mwana Africa on Tuesday welcomed the appointment of two of its executives to the Chamber of Mines of Zimbabwe. Freda Rebecca gold mine MD Toindepi Muganyi was appointed president of the chamber, while Trojan nickel mine MD Batirai Manhando was appointed first... 

Oz Minerals broadens investment criteria to expand portfolio

By: Esmarie Swanepoel Copper miner Oz Minerals has broadened its investment criteria for secondary projects in the gold and base metals sector and reported this week that it would also consider buying smaller and distressed assets to support its producing Prominent Hill copper mine, in South Australia. Chairperson... 

Mungana teams up with Newcrest to explore North Queensland project

By: Esmarie Swanepoel Gold major Newcrest Mining would spend up to A$20-million over an eight-year period at ASX-listed Mungana Goldmines’ Chillagoe project, in North Queensland, under a newly signed exploration agreement. The two companies this week inked an agreement that required Newcrest to spend an initial... 

Macfarlane announces funding for resource extraction research

By: Esmarie Swanepoel The federal government on Tuesday announced a A$74-million investment to boost resource extraction research and to support innovative manufacturing through the funding of two cooperative research centres (CRCs). Industry and Science Minister Ian Macfarlane on Tuesday stated that the CRC for... 

Macfarlane announces funding for resource extraction research
Photo by Appea
Minister Ian Macfarlane

Australian M&A activity down 26% in Q1

By: Esmarie Swanepoel Australian merger and acquisition (M&A) activity in the resource sector dropped by 26% in the first quarter of 2015, with only 17 deals concluded during the period. Advisory firm Ernst & Young (EY) revealed on Tuesday that the value of the M&A transactions also declined by 52% over the same... 

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