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Glencore’s new low-cost Tweefontein coal mine coming in below budget

By: Martin Creamer The new coal emerging from Glencore’s on-time, 85%-complete, R8.213-billion Tweefontein Optimisation Project (TOP) is coming in under budget. The project has delivered a low-cost, long-life brownfields expansion that has elevated Tweefontein into a modern, predominantly opencast operation that... 

Glencore’s new low-cost Tweefontein coal mine coming in below budget
Photo by Duane Daws
Allen Butcher and Martin Creamer on site at Tweefontein.

R10bn set aside for Witwatersrand AMD mitigation

By: Leandi Kolver The Department of Water and Sanitation (DWS) has set aside an estimated R10-billion to mitigate acid mine drainage in the Witwatersrand goldfields. In a statement issued following a meeting between Water and Sanitation Minister Nomvula Mokonyane and mining experts on Friday, the DWS said this... 

R10bn set aside for Witwatersrand AMD mitigation

Anglo, Eskom seek ‘mutually beneficial’ New Largo outcome

By: Terence Creamer Anglo American Inyosi Coal and Eskom “are broadly aligned” regarding Eskom’s empowerment imperatives for the New Largo project, Anglo American coal business in South Africa CEO and Anglo American Inyosi Coal chairperson Themba Mkhwanazi reported on Friday. In a statement released by Eskom,... 

Anglo, Eskom seek ‘mutually beneficial’ New Largo outcome
Themba Mkhwanazi

Zambia’s 2015 budget threatens viability of mines in the country

By: Chantelle Kotze Zambia’s 2015 budget, which contained proposals for far-reaching reforms to the mining fiscal tax regime, would have significant implications for the mining industry, leaving several mines cash flow negative and unsustainable, so much so that mining companies with high production costs would have... 

Oakbay lists on JSE

By: Leandi Kolver Investment holding company Oakbay Resources and Energy on Friday listed on the JSE’s main board, becoming the sixteenth company to list this year. The company held a 74% interest in Shiva Uranium, previously Uranium One Africa, which focused primarily on uranium and gold deposits with its main... 

Weekend load-shedding pattern to continue, as cuts are confirmed 

By: Terence Creamer Electricity utility Eskom confirmed on Friday that it would implement rotational load shedding in stage 2 (about 2 000 MW) over the weekend of November 29 and 30, entrenching a pattern of rotational power cuts that first emerged after a coal silo collapsed at the Majuba power station at the... 

Weekend load-shedding pattern to continue, as cuts are confirmed
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Kimberley reports Lerala environmental authorisation progress

By: Esmarie Swanepoel Diamond developer Kimberley Diamonds has received environmental authorization for its Lerala mine, in Botswana. The Botswana Department of Environmental Affairs has approved and completed the transfer of the previously approved environmental impact assessment from Lerala’s previous ownerDiamond... 

Stellar reports higher Tongo Dyke-1 reserves, diamond grade

By: Leandi Kolver Aim-listed Stellar Diamonds on Friday announced a 35% increase in the Joint Ore Reserves Committee- (Jorc-) compliant inferred resource for its 100%-owned Tongo kimberlite Dyke-1 project, in Sierra Leone. The project’s Jorc-compliant inferred resource now stood at 1.45-million carats, with bulk... 

GoldStone to focus on Homase/Akrokerri project

By: Leandi Kolver Following the acquisition of a 33.45% controlling interest in Aim-listed GoldStone by exploration and development company Stratex, GoldStone’s newly constituted board has decided that the company’s exploration efforts going forward would be primarily directed at its Homase/Akrokerri project, in... 

Mining houses, other stakeholders in bid to mitigate high levels of indebtedness among workers

By: Zandile Mavuso About 6.72% of mineworkers in South Africa have been issued with emolument attachment orders (EAOs), which has resulted in a crisis of indebtedness in the mining sector – a crisis that some believe is one of the major underlying factors of the recent labour unrest and protracted strike action.... 

Mining houses, other stakeholders in bid to mitigate high levels of indebtedness among workers

Burkina Faso's transitional government to review mine permits 

By: Reuters Burkina Faso's transitional government will review some mine contracts signed under former President Blaise Compaore, responding to concerns that exploration permits were granted in opaque conditions, new mines minister Colonel Boubacar Ba said. Gold is the West African nation's top commodity and... 

Mining, independence at stake as Greenland goes to the polls

By: Reuters Greenlanders go to the polls on Friday with hopes for a mineral-rich independence from Denmark foundering on the reality of a tiny, shrinking economy. The fall of premier Aleqa Hammond last month in an expense scandal has muted the nationalist rhetoric that promised independence based on wealth... 

Yukon enviro board resumes review of Casino project

By: Natalie Greve The Yukon Environmental and Socioeconomic Assessment Board (YESAB) has resumed its review of Western Copper and Gold Corporation subsidiary Casino Mining Corporation’s (CMC’s) Casino project, in Canada, after the process was put on hold at CMC's request as part of a settlement agreement with the... 

Excellon moves to buy ‘undervalued’ common shares

By: Natalie Greve The TSX has approved Toronto-listed Excellon Resources’ notice of its intention to make a normal course issuer bid (NCIB), the silver miner said on Friday. Mexico's highest-grade silver producer filed the NCIB programme to allow for the market purchases of its common shares and, pursuant to the... 

$113m to be released to Nautilus next month on completion of State agreement

By: Leandi Kolver Prospective seafloor miner Nautilus Minerals on Friday announced that $113-million that had been placed into escrow in May, would be released to the company on December 11, on the completion of the sale of 15% of its Solwara 1 project, offshore Papua New Guinea, to Eda Kopa (Solwara), which had... 

Codelco output rises, boosted by new mine production

By: Reuters Copper output at world No. 1 copper producer Codelco rose 4% year-on-year in the nine months to end-September, boosted by new mine Ministro Hales, but a continued slide in the price of the base metal ate into profits. The Chilean state-run miner produced 1.23-million tonnes of copper in January... 

Lower capex outlay to shrink Hochschild’s FY2015 output

By: Natalie Greve As part of its ongoing cash flow optimisation programme, Hochschild Mining has targeted further cost efficiencies to reduce operating expenditure and ensure that the company’s mines can deliver profitable ounces in 2015. The group outlined on Friday that it had “optimised” the mine plans of the... 

Lower capex outlay to shrink Hochschild’s FY2015 output

Osisko closes C$100m credit facility

By: Leandi Kolver Gold-focused royalty and stream company Osisko Gold Royalties has closed its C$100-million revolving credit facility with the National Bank of Canada. The credit facility, which could be increased by C$50-million at Osisko’s request, would be used for investments in the mineral industry,... 

TVIRD enters into C$2m finance negotiations with Mindoro

By: Leandi Kolver The Philippine affiliate of resource company TVI Pacific, TVI Resource Development (TVIRD), on Thursday announced that it was in negotiations to provide its joint venture partner in the Agata Mining Venture, Mindoro Resources, with C$2-million in convertible debenture financing. The financing... 

Fortescue halves capex for 2015

By: Esmarie Swanepoel Iron-ore major Fortescue Metals has halved its capital expenditure (capex) expectations for the 2015 financial year from $1.3-billion to $650-million. The miner said on Friday that the reduction in planned capex spend for 2015 was consistent with Fortescue’s ongoing focus on delivering... 

QRC analysis shows how mining provides A$77bn boost to Qld economy

By: Esmarie Swanepoel The resources sector in Queensland added an estimated A$77.6-billion to the state’s economy in 2013/14, the Queensland Resources Council (QRC) reported on Friday. Revealing an analysis of spending in the resources sector, QRC CEO Michael Roche noted that despite challenges in the commodity... 

India reports increase in monazite reserves

By: Ajoy K Das The Indian government has reported an increase in the country’s monazite reserves. According to official data, India’s monazite reserves have gone up by 1.25-million tonnes to 11.93-million tonnes, following exploration and assessments carried out by Geological Survey of India between 2009 and... 

Administrators tell Watpac to do limited work at Pluton’s Cockatoo Island

By: Esmarie Swanepoel The administrator of Pluton Resources has advised shareholder and project house Watpac to undertake a limited scope of mining work at the Cockatoo Island operations. Watpac suspended an existing mining services contract at the Cockatoo Island project at the start of November after Pluton’s... 

Anglo waits for more favourable conditions to start Moranbah South

By: Esmarie Swanepoel Diversified miner Anglo American confirmed on Friday that the timing for the Moranbah South joint venture coal project would be adjusted to “suit more favourable market conditions”. A spokesperson for the company told Mining Weekly Online that Anglo American had no specific timeframe in mind for... 

Rio Tinto defers Pilbara iron-ore mine, no impact on expansion forecast

By: Esmarie Swanepoel Diversified miner Rio Tinto on Friday deferred the development of the proposed billion-dollar Silvergrass iron-ore mine, in the Pilbara, until at least the third quarter of 2015. A final investment decision on the Silvergrass mine, which would assist Rio in achieving its aim of increasing its... 

Rio Tinto defers Pilbara iron-ore mine, no impact on expansion forecast
Photo by Bloomberg
Rio Tinto CEO Sam Walsh

Stockman's optimisations a coup for Independence

By: Esmarie Swanepoel An optimisation study of ASX-listed Independence Group’s Stockman base metals project, in Victoria, has delivered promising results. The study estimated that the project would require a pre-production capital investment of about A$202-million to deliver yearly production of 15 000 t of copper,... 

Sedgman wins Alcoa contract

By: Esmarie Swanepoel ASX-listed project house Sedgman has been awarded a A$59.8-million engineering, procurement and construction (EPC) contract from aluminium major Alcoa at its Kwinana refinery, in Western Australia. Sedgman’s scope of work would include the design, procurement, delivery, construction, integration... 

Orinoco secures interim funding for Cascavel

By: Esmarie Swanepoel Gold developer Orinoco Gold has raised A$1.1-million through a share placement to advance its Cascavel project, in Brazil. The miner told shareholders on Friday that it had placed some 15.7-million shares, at 7c each, along with one free attaching option exercisable at 11c each. The options... 

More work required by fly-in, fly-out inquiry

By: Esmarie Swanepoel The Western Australian Chamber of Minerals and Energy (CME) has welcomed the call for more evidence in a Parliamentary inquiry into the mental health of fly-in, fly-out (Fifo) workers in the state’s resources sector. In August this year, a Parliamentary committee launched an investigation into... 

Colombia mine regulator sees faster project licensing within a year

By: Reuters Colombia's mining regulator will be able to bring wait times for exploration and production permits back within legal limits in about a year after it has smoothed out the legal tangles that have bogged down its decisions, its chief said on Thursday. Natalia Gutierrez, president of the National... 

Australian physical prices fall on weak demand outlook

By: Reuters Australian physical coal prices declined on Thursday afternoon on continued weak demand in Asia and oversupply. Cargoes from Australia's Newcastle Bay terminal for January delivery edged down 5 cents to $64.65 a tonne on the Globalcoal platform by 1616 GMT, while February cargoes were 15 cents... 

Former mining tycoon Tinkler sees global players shedding coal assets

By: Reuters Nathan Tinkler, the former mining magnate who lost his fortune because of a slump in coal prices, expects global mining companies such as BHP Billiton and Rio Tinto to put their coal assets up for sale. The former electrician who became Australia's youngest billionaire by betting on unloved coal... 

Former mining tycoon Tinkler sees global players shedding coal assets

Strike at Peru's top copper and zinc mine to end by Sunday – union

By: Reuters The union at Peru's largest copper and zinc mine told Reuters it would call off a strike at Antamina by Sunday, but said it was already planning a new walkout in December. The labor stoppage at the Antamina mine, which produces about 30% of Peru's copper and 20% of its zinc, began on Nov. 10, but... 

Work started towards defining Agata limestone resource

By: Leandi Kolver Joint venture company Agata Mining Ventures (AMVI) has started with an exploration programme aimed at defining a National Instrument (NI) 43-101-compliant resource estimate at its Agata limestone project, in the Philippines. The NI 43-101 report was expected to be released following the... 

Competition Commission recommends approval of Anglo American, Samancor transaction

By: Leandi Kolver The Competition Commission on Thursday recommended the approval of the merger that would see mining major Anglo American gain joint control over chrome-ore mining and smelting group Samancor, without conditions. Anglo American already held a 40% stake in Samancor, with mining company BHP Billiton... 

Lydian gets thumbs up for Amulsar gold project

By: Natasha Odendaal TSX-listed Lydian International on Thursday said its 100%-owned subsidiary Geoteam had secured approval from the Ministry of Energy and Natural Resources of Armenia for a mining right for the Amulsar gold project, in Southern Armenia, in the Middle East. The mining right provided the green light... 

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