R/€ = 16.42 Change: 0.07
R/$ = 13.99 Change: 0.06
Au 1281.02 $/oz Change: -1.38
Pt 933.00 $/oz Change: -2.50

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Parliament delays passing key mining law

By: Reuters     Updated 3 hours ago South Africa's Parliament will miss a December target to pass changes to mineral resource laws, seen as key for greater investor certainty, a senior Parliamentary official said on Tuesday. In September, Mines Minister Mosebenzi Zwane told a mining conference in Australia that the new target date... 

Parliament delays passing key mining law
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

De Beers JV starts planning construction of largest offshore diamond mining vessel

By: Natasha Odendaal     Updated 2 hours 36 minutes ago Planning for what could potentially be the world’s largest custom-built offshore diamond mining vessel has been initiated, diamond giant De Beers announced this week. The Government of Namibia and De Beers’ 50:50 joint venture Debmarine Namibia is aiming to start the operation of a new... 

De Beers JV starts planning construction of largest offshore diamond mining vessel
The SS Nujoma

Resgen in talks with Noble for support extension

By: Natasha Odendaal     Updated 1 hour 9 minutes ago ASX- and JSE-listed Resource Generation (Resgen) is in discussions with Noble Resources International to extend its support to the coal company until April amid a prolonged funding gap. As Resgen has been working to secure an alternative funding source that is not linked to committed domestic... 

Mali says gold mining revenues increased 14% in 2016

By: Reuters     Updated 3 hours ago Gold mining revenues in Mali increased by 14% in 2016 to 280-billion CFA francs ($505-million), Mines Minister Tiemoko Sangare said on Tuesday, revising an earlier estimate. Earnings in 2015 amounted to 245-billion CFA francs. 

Wescoal confident about coal market as it posts 42% boost in H1 profit

By: Megan van Wyngaardt     21st November 2017 A consistently strong operational performance from JSE-listed Wescoal’s projects has resulted in the miner posting a gross profit of R267-million for the six months ended September 30, a 42% increase from the prior year’s R188-million. It also maintained its gross profit margin at 17%. 

Wescoal confident about coal market as it posts 42% boost in H1 profit
Photo by Christo Greyling
Wescoal CEO Waheed Sulaiman

Nevsun loses bid to stop Canadian lawsuit over forced labour claims in Africa mine

By: Reuters     Updated 2 hours 9 minutes ago Nevsun Resources lost its bid to have a Canadian court throw out a lawsuit by Eritreans workers who say they were forced to work at its mine in East Africa, according to an appeals court judgment released on Tuesday. A lower Canadian court ruled last October that the lawsuit against Nevsun can... 

Bushveld Energy, IDC, Eskom to test first vanadium redox flow battery

By: Natasha Odendaal     21st November 2017 Aim-listed Bushveld Minerals’ 84%-owned energy subsidiary Bushveld Energy has deployed its first utility-scale vanadium redox flow battery (VRFB) to power utility Eskom for testing. The power utility will, at its research, testing and development centre, in Rosherville, test the VRFB and its... 

Ivanhoe marks first blast at Kakula

By: Natasha Odendaal     21st November 2017 TSX-listed Ivanhoe Mines has marked the start of work on the twin declines at the ultrahigh-grade Kakula copper discovery, at the Kamoa-Kakula copper project, in the Democratic Republic of Congo (DRC), with the first blast. The Kakula boxcut was successfully completed on October 26, followed by... 

WPIC forecasts yet another platinum deficit in 2018

By: Megan van Wyngaardt     21st November 2017 A global platinum deficit of 275 000 oz is expected in 2018, further reducing the availability of above ground stocks of the metal, which have contributed about 2.5-million ounces in the last year, the World Platinum Investment Council (WPIC) said on Monday. “[This] represents the sixth year that... 

WPIC forecasts yet another platinum deficit in 2018
WPIC research director Trevor Raymond

In shadow of Opec's noisy oil cuts, Asia's miners quietly tightened coal supplies

By: Reuters     Updated 2 hours ago Australian and Indonesian miners have quietly done in the last two years what Opec has been shouting about: tighten coal markets and prop up prices. The informal coal output reductions, unlike the official cuts in place since January led by the Organization of the Petroleum Exporting Countries... 

Eskom’s ‘death spiral’ under the microscope

By: Terence Creamer     21st November 2017 A major topic of discussion during recent public hearings into Eskom’s 2018/19 revenue application, was whether a further double-digit tariff hike could trigger a “utility death spiral”, whereby rising tariffs and utility costs spark an exodus of energy-intensive customers from the network,... 

Eskom’s ‘death spiral’ under the microscope

NUM seeks members’ mandate on new coal sector wage offer

By: Megan van Wyngaardt     21st November 2017 The National Union of Mineworkers (NUM) on Tuesday said the latest wage offer by the coal mining companies was now being presented to its members. The NUM on Friday announced that it would postpone its planned strike in the coal sector, as some coal companies had decided to table a new offer to... 

Implats CFO steps down

By: Natasha Odendaal     21st November 2017 JSE-listed Impala Platinum’s (Implats’) group CFO and executive director Brenda Berlin has resigned, effective February 28, 2018, to take‐up a new corporate role aligned to her current aspirations. Implats has initiated the process to identify a suitable successor to Berlin, who had joined... 

Implats CFO steps down
Photo by Duane Daws
Implats CFO Brenda Berlin

Tlou to list on Botswana Stock Exchange, raise £2.4m from new investors

By: Creamer Media Reporter      21st November 2017 Coal-bed methane project developer Tlou Energy has secured the support of new investors and plans to list on the Botswana Stock Exchange (BSE) by mid-December. The Aim- and ASX-listed company will submit its application to list on the main board of the BSE this week. 

Danakali board approves dual listing plans

By: Mariaan Webb     21st November 2017 Potash junior Danakali on Tuesday announced its intention to list on the LSE next year, becoming the second ASX-listed exploration and development firm to announce a dual listing in London this week. Danakali said its dual listing, planned for the first half of 2018, was in line with its equity... 

Danakali board approves dual listing plans

Walkabout granted lithium licence in Namibia

By: Mariaan Webb     21st November 2017 Australian junior Walkabout Resources, which is developing the Lindi Jumbo graphite project in Tanzania, is to explore for lithium in southern Namibia. Walkabout was granted a second exclusive prospecting licence (EPL 6308), giving the company a footprint of more than 1 500 km2 in the Orange... 

Premier raises £1-milion in oversubscribed share offer

By: Megan van Wyngaardt     21st November 2017 Aim-listed Premier African Minerals received a strong response to its offer to raise £500 000 at 0.4p apiece, with the offer oversubscribed. The offer closed early when £1-milion was surpassed, with Premier now issuing 252-million shares, which will rank equally with the company's existing... 

Battery Minerals raises A$20m to fast-track Montepuez, Balama graphite projects

By: Natasha Odendaal     21st November 2017 ASX-listed Battery Minerals has received commitments from institutional, sophisticated and professional investors to raise A$20-million to fund its next phase of growth at its Mozambique-based graphite projects. Some A$19.5-million is being raised through a share placement at 6c and A$500 000... 

Lucapa and Equigold deepen relationship

By: Megan van Wyngaardt     21st November 2017 Private Singaporean company Equigold is further increasing its shareholding in Africa-focused Lucapa Diamond Company by converting the last two scheduled quarterly repayments, totalling $3.75-million, into Lucapa shares. The companies in October agreed to enter a $15-million loan facility, which... 

Altus to acquire Legend Gold

By: Anine Kilian     21st November 2017 Aim-listed Altus Strategies has executed a definitive binding agreement to acquire TSX-V-listed Legend Gold, which holds a portfolio of prospective gold exploration projects in western and southern Mali. It has offered Legend shareholders three of its shares for every Legend share held. 

PEA delivers encouraging results for GoviEx’s Mutanga

By: Megan van Wyngaardt     21st November 2017 A recently completed preliminary economic assessment (PEA) at TSX-V-listed GoviEx Uranium’s Mutanga project, in Zambia, has shown that the project can produce 2.4-million pounds a year of triuranium octoxide (U  3  O 8  ) yellowcake over an initial 11-year mine life. The study has also shown that... 

West Wits taps into Witwatersrand expertise for Pilbara projects

By: Mariaan Webb     21st November 2017 Gold junior West Wits intends to leverage its Witwatersrand basin geology expertise when it embarks on scaling up operations at its new Pilbara conglomerate gold projects, chairperson Michael Quinert said on Tuesday, announcing that the company is buying more gold leases south-east of Port... 

Glencore sees nickel in best shape in decade before EVs take off

By: Bloomberg     21st November 2017 Glencore is seeing the best market conditions for nickel in at least a decade, and electric cars are barely playing a part yet. The miner and trading giant expects nickel’s 2017 deficit at 170 000 metric tons -- one of the biggest in years and more than most market estimates – to be driven by a... 

Savannah reports 'siginificant' lithium intersections at Portugal project

By: Creamer Media Reporter      Updated 11 minutes ago The reverse circulation (RC) drill programme for the Mina do Barroso lithium project, in Portugal, has returned significant intersections of lithium mineralisation, Aim-quoted Savannah Resources reported on Wednesday. The company has completed a further 27 holes f 

Triton inches closer to opening Ancuabe graphite project

By: Megan van Wyngaardt     Updated 17 minutes ago ASX-listed Triton Minerals has started the transition from explorer to developer with the submission by its subsidiary Grafex Limitada of its Mining concession application (MCA) to the Instituto Nacional de Minas (INAMI) for its large flake, high-purity Ancuabe graphite project in northern... 

Maximus sees opportunities for further gold deposits at Spargoville

By: Megan van Wyngaardt     Updated 51 minutes ago ASX-listed gold miner Maximus Resources on Wednesday said it was aggressively pursuing further resource definition across the Spargoville gold project area, 70 km south of Kalgoorlie, in Western Australia’s eastern goldfields, while actively progressing the conversion of existing resources into... 

Lithium Power raises A$15m

By: Mariaan Webb     Updated 1 hour 44 minutes ago Pure-play lithium explorer Lithium International has raised A$15-million in an institutional placement, which allows the company to complete its earn-in in the Maricunga joint venture (JV) and to start preconstruction works. Lithium International, which is listed on the ASX, will have a 50%... 

Toral exploration licence renewed

By: Creamer Media Reporter      Updated 2 hours 23 minutes ago ASX- and Aim-listed Ferrum Crescent has been granted a renewed, three-year exploration licence for its Toral project, in Spain, effectively resetting the “exploration clock” for the lead/zinc assets. Ferrum Crescent subsidiary GoldQuest Iberica, which is the holder of the Toral exploration... 

Tawana strengthens management team

By: Megan van Wyngaardt     Updated 2 hours 33 minutes ago Dual-listed Tawana Resources has appointed Noel O’Brien chief technical officer for its metallurgy and processing division. A metallurgist and processing expert, O’Brien has experience in multiple lithium projects in Australia and internationally. 

Berkut says maiden Norway drilling programme on schedule

By: Creamer Media Reporter      Updated 4 hours ago ASX-listed Berkut Minerals is advancing its maiden diamond drill programme at its Skuterud cobalt project in Norway, with the final hole of a six-hole programme currently under way at the historic Middagshville prospect in the southern licence. This will be followed by a single hole at the... 

Money 'tsunami' may spur quadrupling of gold prices, McEwen says

By: Bloomberg     Updated 5 hours ago Gold has bottomed out, according to one of the industry’s biggest bulls. Prices could surpass $5 000/oz in five years, from about $1 280 now, as investors seek returns amid a prolonged period of cheap money and use the metal as a haven from geopolitical and financial risk, McEwen Mining CEO Rob... 

Money 'tsunami' may spur quadrupling of gold prices, McEwen says
McEwen Mining CEO Rob McEwen

Havilah teams up with CMC to develop North Portia

By: Creamer Media Reporter      Updated 5 hours ago South Australia copper-focused junior Havilah Resources and mining partner Consolidated Mining and Civil (CMC) have agreed to jointly advance the North Portia copper/gold deposit, which is a key element of miner’s copper growth strategy. The parties have signed a binding memorandum of... 

Gascoyne raises funds for ‘aggressive’ exploration

By: Mariaan Webb     Updated 6 hours ago Gold exploration and development company Gascoyne Resources said on Wednesday that it had completed a bookbuild to raise about A$21.5-million for a regional exploration programme at the Dalgaranga and Glenburgh gold projects, as well as for the development of the Dalgaranga gold mine. The company... 

Aurelia raises A$70m to fund Peak mines acquisition

By: Mariaan Webb     Updated 6 hours ago New South Wales-based explorer and developer Aurelia Metals has received strong support from investors for its capital raising to fund the acquisition of the Peak mines, in Cobar, from Canadian miner New Gold. An oversubscribed institutional placement raised A$70-million, which together with a... 

Adani still seeking govt loan for rail link

By: Mariaan Webb     Updated 6 hours ago India’s Adani has denied that it no longer needs a A$900-million loan from the North Australian Infrastructure Facility (NAIF) for its rail link associated with its Carmichael coal mine. Spokesperson Ron Watson said on Wednesday that Adani had held meetings with a wide-range of financiers for... 

Adani still seeking govt loan for rail link

Canadian federal agency rejects NGO complaint regarding KSM project permitting process

By: Henry Lazenby     21st November 2017 A Canadian federal agency has rejected a request for review (RfR) by nongovernmental organisation (NGO) the Southeast Alaska Conservation Council (SEACC) of the permitting process regarding Seabridge Gold’s Kerr-Sulphurets-Mitchell (KSM) project, in British Columbia. The Canadian National Contact... 

TransCanada’s Keystone XL pipeline clears key hurdle despite oil leak incident

By: Henry Lazenby     21st November 2017 Oil and gas pipelines operator TransCanada is reviewing a decision by the Nebraska Public Service Commission (PSC) approving an alternative route for the proposed Keystone XL (KXL) pipeline project through the state. "As a result of today's decision, we will conduct a careful review of the PSC’s... 

TransCanada’s Keystone XL pipeline clears key hurdle despite oil leak incident

Great Barrier Reef pitched against coal jobs in Queensland vote

By: Bloomberg     21st November 2017 The fate of Adani Group’s A$16.5-billion Australian coal mine hinges on weekend elections in Queensland state, as voters weigh the promise of new jobs against a potential environmental threat to the Great Barrier Reef. The Labor government has vowed to reject A$900-million in federal funding for... 

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