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Work with govt to simplify mining policy – Rossouw

By: Martin Creamer     Updated 5 hours ago The time had come for the private sector to start making it clear that it wished to work with government to simplify mining policy and collaborate towards less regulation and greater implementation. “Step up and get involved in providing meaningful information and honest comment,” thought leader... 

Work with govt to simplify mining policy – Rossouw
Photo by Daune Daws
Mike Rossouw

Glencore subsidiary Optimum to shut mines, shed 600 jobs

By: Natalie Greve     Updated 4 hours ago After warning in January of the possible closure of several of its opencast coal operations, coal processing plants and associated support services, Glencore subsidiary Optimum Coal Mines on Thursday announced that it would proceed with the placing of some of its operations on care and... 

Glencore subsidiary Optimum to shut mines, shed 600 jobs

Government sells Vodacom stake to PIC to fund Eskom bailout

By: Terence Creamer The South African government confirmed on Wednesday that it had sold its 13.91% stake in telecoms group Vodacom to help finance a R23-billion capital injection into embattled State-owned electricity utility Eskom. The shares were sold to the Public Investment Corporation (PIC), acting on behalf... 

Government sells Vodacom stake to PIC to fund Eskom bailout
Photo by Duane Daws
Finance Minister Nhlanhla Nene

S Africa's platinum sector faces crunch time as prices slide

By: Reuters South Africa's platinum sector is at a crucial juncture as the metal's price, near six-year lows, maintains a steady decline, with analysts now contemplating a move below $1 000/oz. Platinum has fallen nearly 10% so far this year, and at current prices of less than $1 100/oz, many shafts in the... 

Mining towns get R18bn facelift

By: SANews, SA government news service Government has allocated R18-billion to improve the socioeconomic conditions of distressed mining communities across the country. Headed by the Inter-Ministerial Committee (IMC) in charge of revitalising mining communities, the projects include housing and wellness projects. 

Mining towns get R18bn facelift
Photo by Duane Daws
President Jacob Zuma

Atlatsa in talks with Amplats over Bokoni mine, financial support

By: Creamer Media Reporter      Updated 6 hours ago Triple-listed platinum miner Atlatsa Resources on Wednesday said it was in talks with platinum major Anglo American Platinum (Amplats) regarding the future sustainability of the Bokoni mine, in Polokwane, as well as potential alternative financial support for the company. This followed after some... 

HDS plant upgrades to be completed this year – CRG

By: Megan van Wyngaardt     Updated 5 hours ago A final upgrade to the high-density sludge (HDS) water treatment plant at Central Rand Gold’s (CRG’s) operations would be completed this year. In a statement outlining its results for the year ended December 2014, the company noted that, although the HDS plant, which started operating in May... 

HDS plant upgrades to be completed this year – CRG

Gold wage talks to resume on July 6

By: Creamer Media Reporter      Updated 5 hours ago The second three-day session of wage negotiations between gold companies AngloGold Ashanti, Evander Gold Mines, Harmony Gold, Sibanye Gold and Village Main Reef and unions, the Association of Mineworkers and Construction Union (AMCU), the National Union of Mineworkers (NUM), Solidarity and UASA... 

Tiger announces debt refinancing, eyes DRC production expansion

By: Creamer Media Reporter ASX-listed Tiger Resources said on Wednesday that it had agreed terms with Taurus Mining Finance Fund for the refinancing of its existing secured debt facilities and for arranging a new facility to fund the potential debottlenecking works at the Kipoi copper project, in the Democratic Republic of... 

Cameroon govt to fund Mbalam-Nabeba port, rail infrastructure

By: Creamer Media Reporter ASX-listed Sundance Resources has entered into a transition agreement with the Cameroon government that would see the government fund the port and rail infrastructure required for the Mbalam-Nabeba iron-ore project in that country. The Mbalam-Nabeba project, which included the Mbarga and Nabeba... 

Edenville submits Rukwa mining licence application

By: Creamer Media Reporter      Updated 6 hours ago Aim-listed coal mine and energy project developer Edenville Energy has submitted all elements of the mining licence application for its Rukwa coal project to the Tanzania Ministry of Energy and Minerals. The project had 171-million tons of coal in the measured and indicated categories, which the... 

GoviEx files mining permit for Madaouela uranium project in Niger

By: Tracy Hancock GoviEx Uranium has filed its mining permit application with the government of Niger for its Madaouela uranium project in the prolific Arlit uranium-mining district of northern Niger. "Filing the mining permit application is a key step in the mine development process," said GoviEx CEO Daniel Major... 

GoviEx files mining permit for Madaouela uranium project in Niger

Bibiani FS to be completed in mid-2016

By: Creamer Media Reporter ASX-listed Resolute Mining plans to complete a feasibility study (FS) on its Bibiani gold project, in Ghana, in mid-2016, after an underground scoping study delivered positive results. The scoping study, undertaken by Snowden Mining Industry Consultants, revealed an underground mining inventory... 

Thomas steps in as Weatherly CEO

By: Creamer Media Reporter Craig Thomas has stepped into the role of CEO of Namibia-focused copper miner Weatherly International, following the retirement of Rod Webster. Webster would continue to serve as a director of the company. 

Avrupa arranges $400 000 private placement

By: Creamer Media Reporter TSX-V-listed Avrupa Minerals has arranged a private placement of four-million units at $0.10 a unit for gross proceeds of $400 000, bringing the funds raised by the company during 2014 and 2015 to $1.5-million. The junior exploration and development company said on Tuesday that it generally... 

Potash miner Sirius wins approval for mine in British national park

By: Reuters Potash mine developer Sirius minerals on Tuesday won the go-ahead to build a large mine in a scenic national park in Yorkshire, northern England, a company spokesman said, clearing a major hurdle in the construction of the $3-billion project. The North York Moors National Park's planning... 

Heatwave pushes up European coal prices

By: Reuters European coal prices rose over the past week as a heatwave buoyed power demand, while Australian prices were pulled down due to slower purchases by key Asian importers. Meteorological data in Thomson Reuters Eikon showed aggregate average temperatures in Germany, France, Austria and Switzerland... 

China targets counterweight in gold trade with yuan fix

By: Reuters A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer. While no immediate threat to the gold pricing dominance of... 

China targets counterweight in gold trade with yuan fix

Creamer Media publishes Real Economy Insight: Coal 2015 brief

This ten-page brief is a synopsis of key developments in the coal industry over the past 12 months. It provides an overview of the global and South African coal markets and the role of coal in South Africa’s economy, with a particular focus on the role of coal in the generation of electricity. 

Creamer Media publishes Real Economy Insight: Coal 2015 brief

Sierra Gorda copper mine in Chile begins commercial production

By: Reuters Sumitomo Metal Mining (SMM), Japan's second-largest copper producer, said on Wednesday the Sierra Gorda mine in Chile that it owns jointly with Polish producer KGHM Polska Miedz began commercial production at the end of June. The mine had been operating for more than 60 days at 65% of its... 

Sierra Gorda copper mine in Chile begins commercial production

Pershing Resources starts pilot mill testing, expects modest cash flow

By: Tracy Hancock Reno, Nevada-based Pershing Resources had started testing its pilot mill at a facility near Kingman, Arizona, in the US, marking the achievement of a major goal for the company and shareholders, Pershing Resources CEO Steve Plumb said on Tuesday. "We have developed the beginnings of a production... 

All three Atlas mines up and running as Mount Webber resumes operations

By: Mariaan Webb Iron-ore miner Atlas Iron has restarted mining operations at its Mount Webber mine, in the Pilbara, and said on Wednesday that processing would resume in mid-July. Mount Webber was the last Atlas mine to resume operations in the Pilbara and with all three its mines now back in production, the... 

All three Atlas mines up and running as Mount Webber resumes operations

Metallica appoints new CEO as Gillies retires

By: Creamer Media Reporter ASX-listed Metallica Minerals has appointed Queensland-based mining executive Simon Slesarewich as CEO, effective July 13. He would succeed retiring founding MD Andrew Gillies, who was stepping down from the position after more than ten years. Gillies would, however, continue serving as... 

Evolving Gold to sell Rattlesnake Hills to GFG for $1.6bn

By: Tracy Hancock Vancouver-based gold exploration company Evolving Gold has entered into a binding letter of intent (LOI) to sell its Rattlesnake Hills project, in Natrona county, Wyoming, in the US, to GFG Resources. Evolving Gold advised on Tuesday that under the LOI, the acquisition of Rattlesnake Hills, which... 

GBM Resources partners with Chinese group

By: Creamer Media Reporter Australian resources company GBM Resources has formalised an agreement with China’s Jiangxi Centre Mining (JCM), which will provide the ASX-listed company with a funding strategy to explore and develop its projects. GBM, which is building a gold portfolio in Malaysia and the east coast of... 

Flinders and Balla Balla JV to scrap alliance agreement

By: Creamer Media Reporter The alliance agreement between iron-ore developer Flinders Mines and members of the Balla Balla joint venture (JV), Rutila Resources and Todd Minerals, will not be extended beyond the end of the year. The agreement, which was signed in March 2014, would have provided Flinders’ Pilbara Iron Ore... 

NZ's Meridian extends deadline for Rio Tinto smelter contract

By: Reuters Meridian Energy said on Wednesday that it would extend until August the deadline for when Rio Tinto's New Zealand aluminium smelter must decide whether to extend its power supply contract with the utility company. New Zealand Aluminium Smelters Ltd (NZAS) will now be required to give notice by... 

Indophil expects mid-July deal with Glencore on $5.9bn Philippine mine

By: Reuters Indophil Resources said a final agreement may be signed in the middle of July allowing it to take control of the long-delayed $5.9-billion Tampakan copper/gold project in the Philippines from Glencore. Indophil, previously listed in Australia until its takeover this year by the Philippines'... 

Oban enters three-party agreement with Eagle Hill, Ryan, Corona

By: Megan van Wyngaardt Canadian mineral resource company Oban Mining has entered into a definitive arrangement agreement with TSX-listed Eagle Hill Exploration, Ryan Gold and Corona Gold, to acquire common shares of each company. Under the arrangement, each holder of Eagle Hill shares would receive ten common Oban... 

Chile copper output rises 2.1% in May

By: Reuters Chile, the world number one copper producer, had output of 508 245 t of the red metal in May from the year before, boosted by new projects and operational improvements at an unidentified "important" processing plant, government statistics agency INE said on Tuesday. Copper production increased... 

Mine mechanisation linked to local equipment retains jobs – Jourdan 

By: Martin Creamer Resource development strategist Dr Paul Jourdan this week called for the local manufacture of mechanised mining equipment to neutralise job losses during the switch to machines. The former Mintek president says that even though mechanisation “massively” increases the quality of work in mines and... 

Mine mechanisation linked to local equipment retains jobs – Jourdan
Photo by Creamer Media
Paul Jourdan

Assore warns of lower FY earnings amid lower iron, manganese prices

By: Creamer Media Reporter JSE-listed mining holding company Assore expects its attributable earnings for the year to June 30 to decline to between R1.23-billion and R1.5-billion, from R4.01-billion in the prior financial year. Headline earnings were expected to fall to between R1.7-billion and R2.08-billion, from... 

Outbid in copper, Mick Davis turns to coal to try for X2's first deal

By: Reuters X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bilateral talks to buy some of Rio Tinto's Australian coal assets, two sources with knowledge of the situation said on Tuesday. Davis, whose X2 fund has yet to clinch its first deal, is turning his... 

Polish mining gear maker Kopex going abroad to defy mining slump

By: Reuters Polish mining machinery maker Kopex is looking for contracts abroad, bracing for a fall in its 2015 net profit due to a crisis in the local coal sector, its chief executive said. Poland's coal mining giants, which have been Kopex's main clients for years, have minimised their investment spending... 

Hatfield Colliery closure speeds up UK exit from deep coal mining

By: Reuters Britain's Hatfield Colliery will stop producing coal with immediate effect after being unable to sell its coal following the sharp rise in the UK's carbon tax, Prospect union said on Tuesday. The closure of the employee-owned mine in South Yorkshire is 14 months earlier than expected. Around 500... 

AngloGold employee killed in fall-of-ground incident

By: Creamer Media Reporter A rock-drill operator was killed in a fall-of-ground incident at AngloGold Ashanti’s Kopanang mine, near Orkney, in the Free State, on Tuesday. The Department of Mineral Resources had been notified and an in loco inspection would be conducted. 

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