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SA Mint should reveiw Mandela coin plans after Royal Mint blazes new platinum coin trail

By: Martin Creamer     Updated 2 hours 36 minutes ago The decision of the Royal Mint, in the UK, to launch its first-ever platinum bullion products has rekindled hopes that the South African Mint will wipe the dust off its plans for a Mandela coin in platinum and mimic some of its gold coin success. In what is potentially a beneficial measure to... 

SA Mint should reveiw Mandela coin plans after Royal Mint blazes new platinum coin trail
Photo by Darlene Creamer
This week's Mining Weekly cartoon on prospect of launching a platinum Mandela coin.

Zwane said to seek 30% black mine ownership rule

By: Bloomberg     Updated 1 hour 27 minutes ago South African Mines Minister Mosebenzi Zwane has proposed raising the mandatory black ownership of mining assets to 30 percent from 26 percent, drawing opposition from some ruling-party officials who fear it will deter investment, two people familiar with the situation said. The proposal is part... 

Up to 6% of Barrick’s 2017 output impacted by Tanzania ore export ban

By: Henry Lazenby     Updated 5 hours ago The world’s largest gold producer by volume, Canada’s Barrick Gold, on Thursday revealed that up to 6% of its attributable output could be affected by the ongoing ban on mineral concentrate exports affecting the operations of its 63.9% subsidiary Acacia Mining, in Tanzania. Acacia’s Bulyanhulu... 

Tsodilo gains Orapa kimberlite field exploration permit

By: Henry Lazenby     Updated 5 hours ago Diamond explorer Tsodilo Resources has been granted an exploration permit in Botswana to look for diamond-bearing kimberlites in the prolific Orapa kimberlite field (OKF). The TSX-V-listed diamond and metals exploration company has gained access to one of the most significant diamond producing... 

Despite glorious past, mineral processing innovation faces uncertain future

By: Mia Breytenbach     Updated 25 minutes ago While the mining industry does not yet seem to be in a crisis regarding innovation in mineral processing, it certainly seems to be on a downward trajectory, says former Julius Kruttschnitt Mineral Research Centre director and emeritus professor Tim Napier-Munn, noting that, with innovation being... 

Despite glorious past, mineral processing innovation faces uncertain future

Implats launches dual convertible bond offerings

By: Martin Creamer     25th May 2017 Platinum mining company Impala Platinum (Implats) on Thursday launched dual convertible bond offerings to enhance the company’s short-to-medium term liquidity and maintain its strong financial position. Johannesburg Stock Exchange-listed Implats, headed by new CEO Nico Muller, is offering up to... 

Implats launches dual convertible bond offerings
Photo by Duane Daws
Implats CEO Nico Muller

Cabinet approves review of mining charter changes

By: Reuters     25th May 2017 South Africa's Cabinet said on Thursday it has approved for publication a review of revisions to its charter for the mining sector, a process that was supposed to have been done months ago raising concerns about policy uncertainty in the industry. "Mineral Resources Minister Mosebenzi Zwane will... 

Mineral Commodities flags $60m revenue

By: Esmarie Swanepoel     Updated 48 minutes ago South Africa focused mineral sands producer Mineral Commodities will generate at least $60-million in revenue over the next five years from the sale of existing stockpiled garnet concentrate to offtake partner GMA Group. Mineral Commodities and GMA have amended the existing life of mine garnet... 

Brown to set up Eskom corruption probe headed by retired judge 

By: Terence Creamer     25th May 2017 Public Enterprises Minister Lynne Brown has announced that she will institute a “broad scope” investigation into allegations of corruption currently hanging over State-owned electricity producer Eskom. The terms of reference and form of the investigation were still to be finalised, but Brown... 

Brown to set up Eskom corruption probe headed by retired judge
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

CompCom approves AMSA’s buyout of Thabazimbi mine

By: Megan van Wyngaardt     25th May 2017 The Competition Commission has recommended the Competition Tribunal approve ArcelorMittal South Africa’s (AMSA’s) proposed acquisition of the Thabazimbi mine, in Limpopo. Kumba Iron Ore in February agreed to transfer the mine to AMSA. Until 2014, the mine was a captive mine owned and run by Kumba... 

Miranda Mineral Holdings to sell noncore Sesikhona Klipbrand colliery

By: Megan van Wyngaardt     25th May 2017 JSE-listed Miranda Mineral Holdings, together with its wholly-owned subsidiary Miranda Coal, will sell its 73% shareholding in Sesikhona Klipbrand colliery, in KwaZulu-Natal, to Osho SA Coal for R5-million, payable in two tranches. The parties are currently involved in litigation arising from the... 

Premier’s RHA mine ships first concentrate

By: Natasha Odendaal     25th May 2017 Multicommodity resource and development company Premier African Minerals is preparing to mark its first shipment of wolframite concentrate from the newly upgraded plant at its RHA tungsten mine, in Zimbabwe, to Durban, South Africa. This followed the Aim-listed group’s receipt of all the required... 

Orion continues Prieksa drilling programme

By: Megan van Wyngaardt     25th May 2017 ASX-listed Orion Minerals on Thursday said its Prieska zinc-copper project, which it acquired in March, has delivered positive results from its ongoing deep sulphide target drilling programme. Orion is targeting dip and strike extensions to historical underground mining areas at the project, with... 

Forevermark celebrates diamond inscription milestone

By: Megan van Wyngaardt     25th May 2017 The De Beers’ Forevermark diamond brand has inscribed its two-millionth diamond – a 3.48 ct round brilliant, bearing ‘2,000,000’. The diamond was mined, cut and polished in Namibia and inscribed at the Forevermark Diamond Institute in Surat, India. It will be set in a piece of jewellery at the... 

Forevermark celebrates diamond inscription milestone

LBMA launches code of conduct for precious metals markets

By: Reuters     25th May 2017 The London Bullion Market Association (LBMA) is launching a code of conduct aimed at boosting confidence in the $5-trillion a year London gold market, it said on Thursday, following years of heightened regulatory scrutiny of the city's financial sector. The guidelines set out best practice in... 

LBMA launches code of conduct for precious metals markets

Lucapa secures A$19m to pay for Lesotho mine, advance Phase 1 development

By: Esmarie Swanepoel     Updated 13 minutes ago Diamond miner Lucapa Diamond Company has secured A$19-million in capital to fund the acquisition and development of the Mothae kimberlite diamond project, in Lesotho. The ASX-listed miner said on Friday that the funding package included a A$9.2-million underwriting agreement with Westar Capital... 

Poisedon expects Silver Swan restart to deliver ‘healthy’ return

By: Esmarie Swanepoel     Updated 16 minutes ago The Silver Swan nickel mine, in Western Australia, will require a preproduction and working capital investment of A$25-million, and a breakeven nickel price of $4.63/lb to deliver its 8 800 t of contained nickel. A definitive feasibility study (DFS) found that the high-grade underground nickel... 

Poisedon expects Silver Swan restart to deliver ‘healthy’ return

Avanco on its way to mid-tier status

By: Esmarie Swanepoel     Updated 41 minutes ago A prefeasibility study (PFS) has proven that the Pedra Branca East copper-gold project, in Brazil, could realise project owner Avanco Resources’ ambition of becoming a mid-tier copper producer. The PFS estimated that the Pedra Branca East project could deliver some 24 000 t/y of copper and 16... 

Guthrie appointed to Santos board

By: Esmarie Swanepoel     Updated 43 minutes ago Oil and gas major Santos has appointed Vanessa Guthrie to its board as an independent director, effective from July 1. Guthrie was previously MD and CEO of uranium developer Toro Energy and VP of sustainable development for ASX-listed Woodside Energy, and is currently chairperson of the Minerals... 

Lincoln raises nearly A$10m for graphite projects

By: Esmarie Swanepoel     Updated 45 minutes ago Graphite developer Lincoln Minerals will raise up to A$9.6-million through two share placements to progress the development of its assets. The company will issue some 300-million fully paid ordinary shares, at a price of 3.2c each, through Direct Investment Agreements. The placement was subject... 

Jogmec starts Parkes earn-in

By: Esmarie Swanepoel     Updated 46 minutes ago Junior Magmatic Resources’ joint venture with Japan Oil, Gas and Metals National Corporation (Jogmec) over the Parkes copper-gold project, in New South Wales, has been enacted, with the first exploration spend agreed. Under the terms of the March JV, Jogmec can earn a 51% interest in the two... 

Arconic shareholders elect three Elliott nominees to board

By: Reuters     Updated 5 hours ago Specialty metals producer Arconic Inc said its shareholders had elected three of Elliott Management Corp's nominees to its board of directors, based on a preliminary vote count following the company's annual meeting on Thursday. Elliott, a New York hedge fund run by billionaire Paul Singer,... 

Chilean copper miner Codelco preparing local bond issue – agency

By: Reuters     Updated 5 hours ago Chile's state-run Codelco, one of the world's biggest copper producers, is readying a domestic bond issue that will allow it to refinance its debt and fund investments, a local ratings agency said on Thursday. Codelco was in the process of registering a new debt issue worth some $1.6-billion,... 

Peru allows Bear Creek to recover Corani tax

By: Henry Lazenby     Updated 6 hours ago TSX-V-listed project developer Bear Creek Mining has signed an agreement with the Peru Ministry of Energy and Mines (MEM) and ProInversion (an agent for the Peru government) that allows the company to recover, at its option and on an accelerated basis, the 18% taxes applied to engineering and... 

OceanaGold enters option accord for Mirasol's La Curva project, Argentina

By: Henry Lazenby     25th May 2017 Midtier miner OceanaGold has signed an option agreement with prospect generator Mirasol Resources, under which it to acquire up to 75% of the project in five stages. The definitive agreement requires multinational OceanaGold, with operations in New Zealand, Australia and the US, to make a... 

Strike impacts Freeport's Grasberg mine, workers 'resigned'

By: Reuters     25th May 2017 Freeport McMoRan said on Thursday that mining and milling rates at its Grasberg copper mine, in Papua, Indonesia, have been affected as some 9 000 workers stage an extended strike, and a "large number" of approximately 4 000 absentee workers were deemed to have resigned. Escalating tensions with... 

Strike impacts Freeport's Grasberg mine, workers 'resigned'
Photo by Bloomberg
Grasberg semi-autogenous grinding mills, Indonesia

Copper miner Atalaya reports ‘strong’ Q1 performance

By: Mariaan Webb     25th May 2017 Spanish copper miner Atalaya Mining produced 8 805 t of copper in concentrate in the first quarter of 2017, which is in line with its output of the previous quarter. The company is one of Europe’s newest copper producers and operates the Proyecto Riotinto openpit mine, where commercial production... 

Chamber heads for new beginning 

     25th May 2017 The Chamber of Mines of South Africa is rethinking its identity and name and has elected Mxolisi Mgojo its new president. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to discuss this news. 

Chamber heads for new beginning

Mines Ministry hails India’s satellite-based illegal mining monitoring a success

By: Ajoy K Das     25th May 2017 India’s satellite-based Mining Surveillance System (MSS), launched in 2016, has been “very successful” in triggering alerts on possible illegal mining across the country, the Mines Ministry has said in a paper prepared on illegal mining. The Mines Ministry states that the system, operated by... 

Anglo Asian returns to profitability

By: Mariaan Webb     25th May 2017 Base and precious metals producer Anglo Asian Mining has returned to profitability, as the company’s production profile is evolving into one in which copper is playing an increasingly significant role. The Aim-listed miner, which has operations in Azerbaijan, doubled its copper production from... 

Anglo Asian returns to profitability

Resources Watch  

     25th May 2017 Implats trial of safety packed drill rig imminent; KZN coal mine supplying communities’ water needs and mulls output expansion; And, Golden Arrow, Silver Standard JV ‘a match made in heaven’ as explorer turns producer 

Implats trial of safety packed drill rig imminent KZN coal mine supplying communities’ water needs and mulls output expansion And, Golden Arrow, Silver Standard JV ‘a match made in heaven’ as explorer turns producer

Arian Silver to step up lithium exploration, eyes acquisitions

By: Mariaan Webb     25th May 2017 London-headquartered Arian Silver is stepping up efforts to expand its lithium business, announcing on Thursday that it had raised £600 000, part of which will be used to assess the feasibility of additional lithium acquisitions. The company recently announced its interest in buying additional... 

Adani's $16.5bn Aussie mine rattled by tax deal delay

By: Bloomberg     25th May 2017 India’s Adani Group could walk away from its $16.5-billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal Resources Minister Matthew Canavan. The Queensland government’s failure to agree the terms of the royalty regime... 

Savannah aims to tap into European lithium market with 'strategic' Portugal acquisition

By: Mariaan Webb     25th May 2017 Multicommodity company Savannah Resources has announced an agreement to buy a series of highly prospective lithium prospects in Portugal, including an advanced project,as the company seeks to tap into the world’s second-largest lithium market after China. As part of the transaction to buy a 75%... 

Savannah aims to tap into European lithium market with 'strategic' Portugal acquisition
The electric vehicle market is expected to drive demand for lithium.

Yancoal offers $710m for Mitsubishi’s stake in Hunter Valley mines

By: Esmarie Swanepoel     25th May 2017 ASX-listed Yancoal Australia has made a tag-along offer to acquire Mitsubishi Development’s 32.4% interest in the Hunter Valley operations for $710-million. The tag-along offer fulfilled Yancoal’s obligation to Mitsubishi under the sale and purchase agreement for Yancoal’s $2.45-billion buy of... 

Yancoal offers $710m for Mitsubishi’s stake in Hunter Valley mines

Peru FTA to unlock opportunities for Australian exporters

By: Esmarie Swanepoel     25th May 2017 The Minerals Council of Australia (MCA) has welcomed a possible free trade agreement (FTA) with Peru, saying Australia’s mining and mining services sectors could benefit from the agreement Australian Trade, Tourism and Investment Minister Steven Ciobo this week launched FTA negotiations with his... 

Ramelius unveils plans for next four years

By: Esmarie Swanepoel     25th May 2017 Gold miner Ramelius Resources has revealed a new life-of-mine (LoM) plan for its combined Mt Magnet and Vivien operations, in Western Australia, which will see the recovery of about 545 000 oz over four years, staring in 2018. The miner this week said that the updated production profile showed... 

Exterra's Second Fortune to produce 73 000 oz

By: Esmarie Swanepoel     25th May 2017 A feasibility study on the Second Fortune gold mine, in Western Australia, has found that the project could deliver some 73 000 oz over an initial two-year mine life. ASX-listed Exterra Resources on Thursday said that the study considered the development of a mine below the existing openpit... 

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