http://www.miningweekly.com
R/€ = 14.20 Change: 0.00
R/$ = 11.57 Change: -0.02
Au 1328.95 $/oz Change: -0.15
Pt 997.00 $/oz Change: 1.20
 
Close

Email me free daily news

Email address

Northam Platinum to create 6 500 new jobs in growth thrust 

By: Martin Creamer     23rd February 2018 Platinum group metals (PGM) mining company Northam, which is in a strong organic and acquisitive growth phase, will be generating 6 500 new mining jobs in the next four to five years, which dovetails with President Cyril Ramaphosa's 'sunrise' aspirations expressed in his well-received State of... 

Northam Platinum CEO Paul Dunne presented financial results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Richards Bay Coal Terminal, port win top global excellence awards

By: Martin Creamer     23rd February 2018 South Africa's Richards Bay Coal Terminal (RBCT) and Richards Bay Port won global recognition at the Global Ports Forum awards ceremony in Dubai on Thursday. The winners of these prestigious international awards by the ten-year-old Singapore-launched Global Ports Forum are finalised by a judging... 

Richards Bay Coal Terminal, port win top global excellence awards
RBCT GM Operations Jabu Mdaki, extreme left, and RBCT CEO Alan Waller, extreme right, in Dubai award ceremony.

Planning commission outlines case for Eskom split in new energy document

By: Terence Creamer     23rd February 2018 The National Planning Commission (NPC) has released a new discussion document on the energy sector, which reinforces the National Development Plan’s (NDP’s) “explicit” requirement for the system operations, planning, power procurement, purchasing and contracting functions within Eskom to be... 

Planning commission outlines case for Eskom split in new energy document

Public Protector finds Brown 'inadvertently' misled Parliament about Eskom-Trillian

By: News24Wire      23rd February 2018 The Public Protector has found that Public Enterprises Minister Lynne Brown misled the National Assembly when she denied there were engagements between power utility Eskom and the Gupta-linked company Trillian Capital Partners. This is according to a report issued by the Public Protector Busisiwe... 

 Public Protector finds Brown 'inadvertently' misled Parliament about Eskom-Trillian
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Portfolio Committee asks DMR to intervene at Optimum mine

By: Anine Kilian     23rd February 2018 The Portfolio Committee on Mineral Resources has called on the Department of Mineral Resources (DMR) to intervene at the Gupta-owned Optimum coal mine and “establish with certainty” the future of the mine. Power utility Eskom late on Thursday confirmed that the mine, which supplies coal to its... 

Portfolio Committee asks DMR to intervene at Optimum mine

More Gupta-owned companies apply for business rescue

By: News24Wire      23rd February 2018 More Gupta-linked companies have filed for business rescue, company documents show. This comes shortly after the family's Optimum mines filed for business rescue earlier this month. This leaves their creditors holding a particularly busy bag of cats. 

More Gupta-owned companies apply for business rescue
Atul Gupta

RBPlat expects lower full-year HEPS

By: Creamer Media Reporter      23rd February 2018 Royal Bafokeng Platinum (RBPlat) expects to report headline earnings per share (HEPS) of between 51c and 60c for the year ended December 31 – a 30.8% to 41.2% decrease on the HEPS of 86.7c reported for 2016. Normalised HEPS, after adjusting for the impact of a restructuring charge and a one-off... 

Finland takes top spot for mining-friendly investment

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Finland takes top spot for mining-friendly investment

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in South Africa

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring for new opportunities worldwide and countries scrutinised for their investment attractiveness and moni- tored in terms of economic growth, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining industry... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in South Africa

South Africa to pilot first utility-scale vanadium redox flow battery

By: Nadine James     23rd February 2018 Aim-listed miner Bushveld Minerals’ 84%-owned energy subsidiary, Bushveld Energy, will be commissioning its first utility-scale vanadium redox flow battery (VRFB) for testing by State-owned power utility Eskom in May, says Bushveld Energy CEO Mikhail Nikomarov. Nikomarov notes that the... 

South Africa to pilot first utility-scale vanadium redox flow battery

Kibaran eager to engage Tanzania’s new Minerals Commission

By: Natasha Odendaal     23rd February 2018 ASX-listed Kibaran Resources stands ready to present its Epanko graphite project to Tanzania’s yet-to-be-established Minerals Commission to start discussions over “silent” matters and the impact on the proposed Epanko debt financing arrangements. Kibaran said it had reviewed the mining... 

Base Resources sees 58% increase in H1 Ebitda

By: Anine Kilian     23rd February 2018 Dual-listed Base Resources has reported a 58% increase earnings before interest, tax, depreciation and amortisation (Ebitda) to $69.3-million for the half year ended December 31, 2017. Sales revenue rose by 28% year-on-year to $115.9-million, achieving an average price of product sold of $407/t,... 

BMR's acquisition of Zambian prospecting licence finalised

By: Simone Liedtke     23rd February 2018 Mineral processing company BMR Group has made the final payment due to Zambia-based Bushbuck Resources, in order to complete the acquisition of prospecting licence 19653, better known as the Star Zinc project.        As a result, Bushbuck no longer has any charge over either the removable assets... 

He got rich on Congo mines until bribe probe put future on hold

By: Bloomberg     23rd February 2018 A 20-year friendship that helped turn Dan Gertler into a billionaire has left the Israeli businessman with a lot fewer places to go. The US government accused Gertler of corrupt mining and oil deals in the Democratic Republic of Congo and said he acted as a middle-man to enrich his longtime... 

The EV future is here and already boosting earnings for miners

By: Bloomberg     23rd February 2018 The booming electric vehicle revolution is flowing through to the bottom line of a growing list of global miners, who are reaping higher profits from rising demand for battery raw materials. Orocobre reported Friday that net income rose 11% in the December half and forecast lithium prices to... 

The EV future is here and already boosting earnings for miners

Mining Weekly iPhone and Android Apps available for free download 

     23rd 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 MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Tahoe suffers $18m Q4 loss as Escobal shutdown saga drags on

By: Henry Lazenby     24th February 2018 Precious metals producer Tahoe Resources has been dealt an $18-million loss for the fourth quarter ended December, as its flagship Escobal silver mine, in Guatemala, lingers on care and maintenance. The TSX- and NYSE-listed miner reported an adjusted comparative loss of $17.7-million, or $0.06 a... 

Tahoe suffers $18m Q4 loss as Escobal shutdown saga drags on
Photo by Tahoe Resources
Escobal, Guatemala

Centerra equity rises on strong Q4 earnings, revenue

By: Henry Lazenby     24th February 2018 Midtier miner Centerra Gold's TSX-listed equity gained more than 8% on Friday after reporting much stronger-than-expected earnings and revenues for the three months ended December 31. The Toronto-headquartered company reported adjusted profit, which typically excludes special items in a given... 

Centerra equity rises on strong Q4 earnings, revenue
Photo by Reuters
Centerra Gold's Kumtor mine, Kyrgyzstan

Stronger-than-expected iron-ore price rally not expected to last - BMI

By: Creamer Media Reporter      23rd February 2018 The strong iron-ore price rally over the last several months is not expected to last and will gradually run out of steam over the next several years as Chinese economic growth refocuses away from heavy industry to services, dampening global demand for the steel-making ingredient, Fitch... 

Champion Iron Ore sends off first loaded train

By: Henry Lazenby     23rd February 2018 TSX- and ASX-listed miner Champion Iron Ore has dispatched its first loaded train of iron-ore from subsidiary Quebec Iron Ore's (QIO's) flagship Bloom Lake mine, near Fermont, Quebec. The train comprised 16 500 t of high-grade 66% iron concentrate and is destined for the Sept-Îles Port, from... 

Century Aluminum CEO: will recall workers if Trump imposes tariffs

By: Reuters     23rd February 2018 The main US producer of high-purity aluminium used in military aircraft is poised to begin restarting idled production lines at its smelter in eastern Kentucky and recall some 350 workers if President Donald Trump imposes aluminium import curbs. Century Aluminum CEO Michael Bless told Reuters on... 

W executes major offtake agreements

By: Mariaan Webb     23rd February 2018 Tungsten, copper and gold explorer and developer W Resources has signed two major long-term offtake agreements for tungsten concentrate from its La Parrilla mine, in Spain. The Aim-listed company reported on Friday that it would supply European tungsten processing giant Wolfram Bergbau und... 

Exxon, BHP axe lengthy sale of 50-year-old Australia oil fields

By: Bloomberg     23rd February 2018 Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running a 20-month sales process. Exxon Mobil and BHP Billiton will retain ownership and operation of fields, licenses and associated infrastructure held in the Gippsland Basin... 

Poland's PGE says facing delays in coal-fuelled Opole power plant

By: Reuters     23rd February 2018 Poland's biggest power producer PGE said two units at its coal-fired Opole power plant will be completed a few months later than planned, potentially delaying the country's biggest infrastructure investment since 1989. The plant in the south-west of Poland is expected to help avoid power... 

Dragon Mining updates ore reserves

By: Anine Kilian     23rd February 2018 ASX-listed Dragon Mining has completed an update of its ore reserves, increasing its total proved and probable reserves to 2.32-million tonnes, grading 3.1 g/t gold for 232 000 oz – the highest tonnage level since Dragon started activities in the Nordic region. The updated reserve represents an... 

Industry blames red tape, 'policy surprises' for Australia's fall in mining survey

By: Creamer Media Reporter      23rd February 2018 Western Australia, South Australia, Queensland, the Northern Territory and Victoria fell in mineral investment attractiveness, according to the Fraser Institute’s ‘Annual Survey of Mining Companies for 2017’. Western Australia fell for the third year dropping from first in 2015 to third in 2016... 

Industry blames red tape, 'policy surprises' for Australia's fall in mining survey

WPG accesses Challenger Deeps

By: Anine Kilian     23rd February 2018 ASX-listed WPG Resources on Thursday undertook the first stope firing of Challenger Deeps development, at its Challenger mine, in Western Australia. This milestone marks the transition from mining in the upper areas of the mine, which has been dominated by remnant mining, to mining of virgin... 

NUM says members not paid at Gupta-owned Optimum mine

By: Reuters     23rd February 2018 The National Union of Mineworkers (NUM) said on Friday that its members had not been paid on time at the Optimum coal mine, which is owned by the Gupta family, and would not return to work at the operation which has started business rescue proceedings. "The guys were not paid and they want a... 

Grange seeks investors for high-grade magnetite project

By: Nadine James     23rd February 2018 Iron-ore miner Grange Resources and its joint venture (JV) partner SRT Australia on Friday announced the appointment of PCF Capital Group to assist with finding strategic investors for the Southdown magnetite project, near Wellstead, Western Australia. Gange CEO Honglin Zhao stated Southdown was... 

NSW grants mining lease for Clean TeQ Sunrise project

By: Mariaan Webb     23rd February 2018 The New South Wales Planning and Environment department has formally issued the mining leases for the Clean TeQ Sunrise project area and proposed limestone quarry, marking a key milestone in the development of one of the largest cobalt and nickel deposits outside Africa. Clean TeQ, which is... 

Indian govt pushing for JVs to acquire overseas battery mineral assets

By: Ajoy K Das     23rd February 2018 The Indian government is considering pushing government-owned mining and mineral processing companies to form joint ventures (JV) to acquire strategic assets overseas. Senior official say that JVs will not only combine the mining expertise of these companies across various minerals, but also... 

Rusal Q4 core earnings surge, Deripaska steps down

By: Reuters     23rd February 2018 Russian aluminium giant Rusal posted a 42% jump in fourth-quarter core earnings on Friday, helped by higher aluminium prices, and announced billionaire Oleg Deripaska would step down as president, as expected. Hong-Kong listed Rusal said fourth-quarter earnings before interest, taxation,... 

Rusal Q4 core earnings surge, Deripaska steps down
Oleg Deripaska

Rio Tinto says changing structure, moving some staff

By: Reuters     23rd February 2018 Rio Tinto is moving some of its support staff as it creates three global hubs, but is not changing its operating model, it said on Thursday. Rio Tinto, the second biggest miner by market capitalisation, has listings in London and Australia, a headquarters in London and an Australian office. 

Alberta govt accepts olive branch as BC seeks reference case on rights over oil exports

By: Henry Lazenby     23rd February 2018 The political impasse over the much-needed expansion of crude oil export capacity from Alberta through Canada's West Coast seems to have been temporarily resolved. Alberta, which is host to the bulk of Canada's significant oil reserves, on Thursday said it would suspend a ban on the sale of... 

Hudbay swings back into black as higher copper, zinc prices lift Q4 profit

By: Henry Lazenby     23rd February 2018 Canadian base metals producer Hudbay Minerals has reported higher fourth-quarter earnings and sales as higher copper and zinc prices pushed the miner back into the black, the company reported on Wednesday. The TSX- and NYSE-listed miner said a 32% year-on-year rise in copper prices and 29% higher... 

Cobalt 27 buys royalty on Dumont nickel/cobalt project

By: Henry Lazenby     23rd February 2018 Canadian cobalt investment vehicle Cobalt 27 has bought a 1.75% net smelter return royalty (NSR) on all future output of nickel and cobalt from Canadian diversified miner RNC Minerals' Dumont project, in the Abitibi region of Quebec, for $70-million. Dumont is thought to contain the world's... 

Torex ramps up ELG throughput; reports Q4 loss

By: Henry Lazenby     23rd February 2018 TSX-listed intermediate Canadian gold producer Torex Gold has reported a net loss of $25-million, or $0.31 a share for the three months ended December, after the flagship El Limón Guajes mining complex (ELG) was forced to shutter following a road blockade. In what can very well be termed an... 

OceanaGold shares rise on record output, revenues, profit

By: Henry Lazenby     23rd February 2018 TSX- and ASX-listed gold producer OceanaGold has reported record profit for 2017, as record output and subsequent record revenues lifted the bottom line. The Melbourne, Australia-based company reported a full-year net profit of $172-million, or $0.28 a share, up 26% year-on-year from... 

Latest News  by  

more

Latest Videos and Audio

Northam Platinum to create 6 500 new jobs in growth thrust

On-The-Air (23/02/2018)

Froneman calls for collective action towards zero harm in fatality-plagued mining business

Resources Watch

Amplats modernises, studies growth, advances fuel cell

South Africa falls to small percentage of AngloGold output

Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell

Gold, platinum miners bolster business, operational plans

more

Services News

Consulting Engineers

Contract mining

Crushing and Screening

Drilling and Tunnelling

Earthmoving

Energy Services

Explosives

Furnaces and Kilns

Material Handling

Opencast/Quarries

Pumps

Valves

Company Announcements

more

Research Reports

Projects

Press Office

more

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close