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Amplats reveals roadmap to automation

By: Samantha Moolman Change is afoot in the platinum mining industry, as global leader in platinum production Anglo American Platinum (Amplats) prepares to overhaul its operations and begin the ten-year-long process of converting its mines into sustainable, mechanised mining systems. While most of South Africa’s... 

Amplats reveals roadmap to automation

Global base metals outlook turns negative – Moody’s

By: Henry Lazenby Global credit ratings advisory firm Moody’s Investors Service has changed its outlook on the global base metals industry to negative, citing weakening macroeconomic growth indicators and investor sentiment. In its report ‘Global Base Metals Industry: Economic Weakness and Copper Price Plunge Turn... 

Global base metals outlook turns negative – Moody’s

Eskom chief expects first signs of turnaround in 18 to 24 months

By: Terence Creamer Eskom CEO Tshediso Matona believes positive results from the current turnaround plan at the embattled utility will begin showing through in the next 18 to 24 months and has committed to continue “telling it as it is and telling it like it has never been told” so that the issues facing the... 

Eskom chief expects first signs of turnaround in 18 to 24 months

Matona drawing energy from days as activist, diplomat to navigate Eskom perils

By: Terence Creamer Apart, perhaps, from the Stoney ginger beer pick-me-up on his conference table and the queue of awaiting visitors in his reception area, there are few other signs of the pressure Eskom CEO Tshediso Matona is under. His corner office on the third-floor at Megawatt Park, in Sunninghill, provides... 

Matona drawing energy from days as activist, diplomat to navigate Eskom perils
Photo by Duane Daws
Eskom CEO Tshediso Matona

Sable confirms discussions around Liberia iron-ore export deal

By: Megan van Wyngaardt Aim-listed Sable Mining on Friday confirmed that it was in “advanced discussions” with the governments of Liberia and Guinea regarding its Mount Nimba iron-ore project, in south-east Guinea. Media reports stated that the company was expected to soon sign a $1.3-billion, 25-year infrastructure... 

Iron-ore prices to dent Kumba FY earnings

By: Natalie Greve Kumba Iron Ore expects its headline earnings for the year ended December 31 to drop from R15.4-billion in the prior year to between R10.6-billion and R11.4-billion, while basic earnings are expected to narrow from R15.4-billion to between R10.2-billion and R11.02-billion over the same period.... 

Strike impact to cut Amplats’ FY headline earnings

By: Megan van Wyngaardt As a result of the five-month strike by workers at platinum miner Anglo American Platinum’s (Amplats’) operations at the start of 2014, the company expects its headline earnings for the year ended December 31, to decrease by between 40% and 55% year-on-year to between R650-million and... 

Danakil DFS to potentially uplift value of Premier’s interest in Circum

Circum Minerals expects to complete the definitive feasibility study (DFS) for its Danakil potash project, in the northern margin of the Danakil depression, in Ethiopia, by mid-year and foresees the production of 2.75-million tonnes a year of saleable potash salts over a minimum of 30 years.... 

Fatality reported at AngloGold Ashanti’s Mponeng mine

By: Natasha Odendaal Stoping and development activities have been suspended at the Mponeng mine following a fatality, AngloGold Ashanti said on Thursday. A miners’ assistant was fatally injured in a fall-of-ground incident at the Carletonville-based mine on Wednesday. 

Goldman Sachs slashes base metal price forecasts, ups gold

By: Reuters Goldman Sachs Group on Friday slashed its 2015 price forecasts for several base metals including copper and aluminium while raising its estimate for gold by $62/oz. "The primary reason for the changes to our forecasts is cost deflation - driven by a combination of actual and anticipated US... 

Peru grants environmental permit for $1.5bn Chinese-owned mine

By: Reuters The government has granted Chinese-owned Jinzhao Mining Peru the environmental permit for its proposed $1.5-billion Pampa de Pongo iron mine, estimated to produce 22.5-million tonnes per year. The energy and mines ministry said in a statement on Friday that it had also approved the company's... 

Iamgold reports localised rock burst at Westwood mine, Quebec

By: Henry Lazenby Canadian gold producer Iamgold late Thursday said a rock burst occurred in the afternoon and caused a localised underground ground fall in a confined area of the Westwood mine, in Quebec. While, access for four people was initially blocked, they were not injured and were able to exit the mine... 

Retreating discovery rates and exploration budget cuts to impact industry from 2016

By: Henry Lazenby Retreating discovery rates and reduced exploring will impact global output from 2016 onward. Financial information firm SNL Financial director for the metals and mining database Glen Jones this week said that in the low-price environment, discovery rates were exacerbated by budget cutbacks,... 

Retreating discovery rates and exploration budget cuts to impact industry from 2016

Patriot gold demands arbitration to resolve Northern Vertex option agreement

By: Henry Lazenby Emerging gold producer Patriot Gold has issued an arbitration demand to joint-venture (JV) partner and optionee Northern Vertex Mining, citing unhappiness regarding the required scope and technical details of the bankable feasibility study (BFS) for Moss gold/silver project, located in Northwest... 

Centerra Gold’s Gatsuurt project gains 'strategic important' Mongolian status

By: Henry Lazenby Canadian gold producer Centerra Gold’s Gatsuurt project, located 35 km from its operating Boroo mine, in Mongolia, had been designated as a 'mineral deposit of strategic importance' by the Mongolian Parliament. The project milestone paved the way for Centerra to move forward within the country’s... 

Oil up after Saudi king dies; policy pledges calm market

By: Reuters Brent crude oil rose on Friday after the death of Saudi Arabia's king added to uncertainty in oil markets, although the new ruler indicated immediately there would be no policy change. Brent crude rose to a high of $49.80/bbl, up $1.28/bbl, before easing to around $49.20/bbl by 15:15 GMT. US... 

Oil up after Saudi king dies; policy pledges calm market

China's 2014 iron ore imports from Australia rise 31.6%

By: Reuters China's iron ore imports from Australia rose 31.6% to 548.4-million tonnes last year, customs data showed on Friday, as soaring production by big miners drove down prices and eliminated some smaller suppliers. Giant miners such as Rio , BHP Billiton and Brazil's Vale have been ramping up iron... 

Labor raises concern over proposed New Acland overturn, Fifo ban

By: Esmarie Swanepoel The Queensland Resources Council (QRC) on Friday added to the growing concern around what a win for the Labor party in the Queensland elections would mean for the resources sector. The QRC was responding to news that the Labor government, if voted into power, would look to overturn approvals for... 

Batangas benefits from higher gold prices

By: Esmarie Swanepoel The Batangas gold project, in the Philippines, was expected to benefit from the increase in the Australian dollar gold price, and the substantial reduction in fuel costs, owner Red Mountain Mining said on Friday. Red Mountain reported that projected free cash flow from the project had increased... 

Beadell ups gold production in December quarter

By: Esmarie Swanepoel Junior gold miner Beadell Resources on Friday reported a significant increase in gold production during the three months to December, driven by record throughput at the carbon-in-leach (CIL) gold plant at its Tucano operation, in Brazil. During the quarter under review, gold production increased... 

Santos posts bumper results, revenue tops $4bn despite oil slide

By: Esmarie Swanepoel Oil and gas major Santos has reported record sales in the fourth quarter and the full year, on the back of a ramp-up in production from the Papua New Guinea liquefied natural gas (PNG LNG) project and higher production from the Cooper basin. “Notwithstanding the fall in oil prices, Santos has... 

Santos posts bumper results, revenue tops $4bn despite oil slide

Doray brings down operating costs as it boosts Andy Well output

By: Esmarie Swanepoel Gold miner Doray Minerals on Friday reported an 18% drop in cash operating costs at its Andy Well mine, in Western Australia, on the back of higher gold production. Doray earlier this month announced that the Andy Well mine’s production had reached 20 963 oz during the three months to December,... 

Arrium redesigns operations to fend off iron-ore price fall

By: Esmarie Swanepoel ASX-listed Arrium on Friday announced the redesign of its South Australian hematite operations, including mothballing its Southern Iron mining operation, as part of an initiative to combat the falling iron-ore price. The company told shareholders that the redesign was aimed at maximising cash... 

Antofagasta closes C$53m Duluth Metals acquisition

By: Henry Lazenby Chile-based copper-mining group Antofagasta this week completed the C$53-million takeover of Duluth Metals, giving it exclusive control of the Twin Metals Minnesota (TMM) copper/nickel/platinum group metals project, in the Duluth Complex, in north-eastern Minnesota. Antofagasta had obtained all... 

Brazilian port licence in spotlight as Kazakh, Indian miners head to court

By: Reuters Brazil's public prosecutor is seeking an injunction on a port licence that could be central to a London court battle between two mining companies run by Kazakh and Indian tycoons. Documents seen by Reuters on Thursday showed that Brazil's Federal Prosecution Service and Office of the District... 

Iamgold completes sale of Niobec mine for $530m

By: Henry Lazenby Midtier gold miner Iamgold has completed the sale of its Quebec-based Niobec mine to a group of companies led by Magris Resources, significantly shoring-up its coffers as the company looks toward further investments. On closing, Iamgold received $500-million in cash after tax for the niobium... 

Miami precious metals refiner gains quality management system accreditation

By: Henry Lazenby Miami, Florida-based precious metals refiner Republic Metals has received the International Organisation for Standardisation’s (ISO) coveted ISO 9001:2008 registration for quality assurance and control, effective from Tuesday. Republic on Thursday reported that the third-party accreditation team... 

Alamos stock depressed on missing Q4 output target

By: Henry Lazenby Turkey focused miner Alamos Gold on Thursday lost nearly 10% in value on the TSX, after it reported fourth-quarter output of 42 500 oz of gold, bringing 2014 production to 140 500 oz, which missed the bottom-end of the company’s 150 000 oz guidance. President and CEO John McCluskey said 2014 was... 

Mining companies urged to take a stand – Divinsky Group

By: Simon Rees Mining has an image problem; it is seen by many in the public as untrustworthy, uncaring and, on occasion, unscrupulous. This is confirmed by polling data, such as the 2014 Edelman trust barometer, where mining came third from the bottom in trustworthiness. Only the chemicals and oil sectors... 

Nevsun expects lower copper output in 2015

The Bisha Mining Share Company (BMSC), which is 60% owned by TSX-listed miner Nevsun, is expected to produce between 160-million and 175-million pounds of copper in concentrate this year. This was lower than the 196-million pounds of copper in concentrate the company produced in 2014 against... 

Rand, emerging market currencies lift on European Central Bank’s QE

By: Martin Creamer The South African rand along with the Russian rouble, the Brazilian real and the Turkish lira all strengthened against the euro after the European Central Bank (ECB) launched its landmark €60-billion a month bond buying programme, the Financial Times reported late Thursday. The quantitative... 

Rand, emerging market currencies lift on European Central Bank’s QE
Mario Draghi

Tawana prepares for Liberia operation restart

By: Natasha Odendaal As the health, safety and corporate risks associated with the Ebola virus in Liberia diminish, ASX-listed Tawana Resources is gearing up to resume full site-based activities at its $53-million Mofe Creek iron-ore project. In August last year, Tawana suspended all nonessential fieldwork at its... 

RBCT targets export of 74m tons of coal in 2015

Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Richards Bay Coal Terminal's target of 74-million tons of coal for export in 2015. 

RBCT targets export of 74m tons of coal in 2015

Stellar raises £1m for Guinea project

By: Creamer Media Reporter Aim-listed Stellar Diamonds has raised about £1.03-million for its Baoulé trial mining project, in Guinea. The company had issued 88.36-million new shares at 1.16p each to directors, existing shareholders and new institutional shareholders to raise the funds. 

B2Gold upbeat about 2015 prospects

By: Ilan Solomons Gold miner and exploration company B2Gold is projecting another “record year” of gold production, with output at its mines expected to rise to between 500 000 oz and 540 000 oz in 2015. This would equate to a 35% increase on the 384 003 oz produced in 2014. 

B2Gold upbeat about 2015 prospects

Osisko to raise C$200m for working capital and general corporate purposes

By: Tracy Hancock TSX-listed Osisko Gold Royalties has agreed to sell 10 960 000 special warrants of the corporation, on a bought deal private-placement basis, at a price of C$18.25 per special warrant, representing aggregate gross proceeds of about C$200-million. The Montreal-headquartered gold-focused royalty... 

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