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Namibian mining’s pulling together boosting country’s economy – Nedbank

By: Martin Creamer Despite the Namibian economy being tied to the South African economy, it has been able to grow ahead of South Africa, which a leading mining investment banker puts down to Namibia’s “sensible” mineral policies, as well as the Namibian mining industry’s close working relationship with its... 

Namibian mining’s pulling together boosting country’s economy – Nedbank
Photo by Duane Daws
Paul Miller

S African power plants face 17Mt coal shortfall

By: Reuters South African power utility Eskom faces a 17-million tonne coal shortfall by 2017 at its coal-fired power plants, a Cabinet Minister said on Wednesday. The shortfall is anticipated in 2015 at Matla, Tutuka and Hendrina power stations and in 2016 at Kriel and Arnot Power Stations, Public... 

S African power plants face 17Mt coal shortfall
Photo by Duane Daws
Kriel power station

Implats terminates Marula disposal process

By: Creamer Media Reporter JSE-listed Impala Platinum (Implats) has decided not to sell its Marula operation, in Limpopo, and plans to improve the performance of the operation instead. The platinum miner announced in February that it would sell Marula, as part of measures to conserve cash. 

Top iron-ore firms unlikely to form cartel and cut output - Goldman

By: Reuters Major iron-ore miners from Australia and Brazil are unlikely to create a cartel and agree on output cuts to shore up prices, with weakening demand expected to intensify competition, Goldman Sachs said. "Efforts to support prices via voluntary production cuts would be counter-productive. In our... 

Top iron-ore firms unlikely to form cartel and cut output - Goldman

Evraz, Sasfin settle dispute

By: Natasha Odendaal Vertically integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium on Wednesday announced that a dispute with financial services provider Sasfin Bank had been resolved. On Monday, Evraz Highveld said it had launched an urgent High Court application against Sasfin to have the... 

Evraz, Sasfin settle dispute

Chinese firm to visit Edenville’s Tanzania project site

By: Natasha Odendaal Representatives from Chinese firm Shandong Electric Power Construction No 2 (Sepco2) will make their way to Tanzania to review London-listed Edenville Energy’s Rukwa coal project with a view to potentially forming a partnership. The Tanzania-focused coal-based energy group on Wednesday said that... 

Zambia cuts power as dam level drops on drought

By: Reuters Africa's second-biggest copper producer Zambia has cut its power generation by 300 MW after water levels in the Kariba dam, a key source of hydropower, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia planned to reduce its hydropower... 

Zambia cuts power as dam level drops on drought

ZCI to delist by June

By: Megan van Wyngaardt Zambia Copper Investments subsidiary African Copper on Wednesday said that it would cease to trade ordinary shares on the LSE from June 5, with the AIM-cancellation becoming effective June 8. The embattled company earlier this month reported that it had agreed to unsecured loan facility for... 

Underground lab cuts copper analysis turnaround time at Palabora

By: Natalie Greve Analytical chemistry specialists Set Point Laboratories has been awarded a contract to manage and operate a newly established underground laboratory at the Palabora Mining Company in Limpopo, enabling closer monitoring of ore copper concentrations as the operation moves to a new mining level. Set... 

Ports and railways tasked to help India curb illegal mining

By: Ajoy K Das India’s federal government announced it would involve logistical service providers, including ports and railways, along with provincial governments, in the monitoring of illegal mining activity across the country. Each of the provinces had been directed to set up Coordination and Empowered... 

Nyota to raise funds for exploration at Italian nickel play

By: Natalie Greve Dual-listed Nyota Minerals has announced the conditional placing of 545.4-million new ordinary shares of 0.06p apiece to raise £300 000 for general working capital and to fund the exploration of its nickel and associated base and precious metals project, in the Piemonte region of Italy. The... 

China's Zijin buys stakes in gold, copper projects

By: Reuters China's Zijin Mining Group , which announced two acquisitions on Tuesday for more than $700-million, believes now is the good time to buy overseas assets as the mining sector is weak, a senior executive said on Wednesday. "In terms of acquisitions, now is the low level (of prices), good... 

London Metal Exchange aims to boost liquidity, electronic trading

By: Reuters The London Metal Exchange (LME) took more steps on Tuesday to boost liquidity by making it easier for new members, including US speculators, to have direct access to its electronic trading system. The LME's owner, Hong Kong Exchanges and Clearing, has been striving to increase LME volumes and... 

Fortescue insists it pays full share of tax to Australia, downplays Singapore company

By: Mariaan Webb Iron-ore miner Fortescue Metals, which has publicly taken on multinational firms such as Rio Tinto and BHP Billiton over their marketing hubs in Singapore, on Wednesday downplayed the importance of a company it had set up in the low-tax island city state in early 2014. Responding to an article in... 

Atlas Iron expects up to A$160m impairment charge

By: Mariaan Webb ASX-listed Atlas Iron, which has recently restarted its Pilbara operations, said on Wednesday that it would book an estimated noncash impairment charge of between A$130-million and A$160-million at the end of June, after updating the carrying value of its assets following a further reduction in... 

Atlas Iron expects up to A$160m impairment charge

Creamer Media publishes Gold 2015: A review of South Africa's gold sector electronic research report

In this context Creamer Media’s Gold 2015 report reviews the global gold market and gold companies that have operations in Africa. It particularly focuses on the South African gold sector, including labour issues and electricity shortages, as well as prospects for the sector. 

Creamer Media publishes Gold 2015: A review of South Africa's gold sector electronic research report

Uranium Energy collects permits for Palangra expansion, Burke Hollow project

By: Henry Lazenby     Updated 1 hour 59 minutes ago US uranium producer and project developer Uranium Energy Corp (UEC) on Wednesday announced that it had received all required permits to produce uranium from new resource areas at the Palangana in situ recovery (ISR) mine, in Texas, after it had obtained a larger mine permit and aquifer exemption... 

Inca One starts trading on Santiago Stock Exchange’s Venture board

By: Henry Lazenby     Updated 2 hours 39 minutes ago Canadian mineral processing firm Inca One has started trading on the Santiago Stock Exchange, Venture (SSEV) market, giving it access to the Latin American Integrated Market (MILA), Latin America’s largest stock trading platform. Inca One on Wednesday said that this listing and platform would... 

Peregrine Diamonds becomes first junior to join Diamond Bourse of Canada

By: Henry Lazenby     Updated 2 hours 59 minutes ago Explorer Peregrine Diamonds has become the first junior mining company to become a member of the Diamond Bourse of Canada (DBC), joining the ranks of diamond major De Beers Canada, among others. The DBC was a central commodity exchange facility and a network that brought together buyers and... 

Guyana Goldfields starts commissioning at Aurora gold project

By: Henry Lazenby     Updated 5 hours ago TSX-listed Guyana Goldfields (GGI) has started commissioning equipment at is Aurora project, saying the project remained on track for the first gold our by midyear. The project was currently about 85% built, with the focus now being on operational readiness training and commissioning. 

Feasibility study finds Eldorado Gold’s Certej project a valuable low-cost asset

By: Henry Lazenby     Updated 7 hours ago A new feasibility study on multinational miner Eldorado Gold’s western Romania-based Certej project has found that the now shovel-ready project was a boon to its low-cost asset base. The company’s subsidiary, Deva Gold, through which Eldorado owned an 80.5% stake in Certej, and an internal team... 

Feasibility study finds Eldorado Gold’s Certej project a valuable low-cost asset
Photo by Eldorado Gold
The historic Certej openpit, Romania.

Definition study enhances Unicorn business case, slashes capex – Dart

By: Mariaan Webb A project definition study of the Unicorn molybdenum, copper, silver and zinc project, in Victoria, has significantly improved the project definition and business case, ASX-listed Dart Mining reported on Wednesday. The company started a 15-month study of the project in March last year, following... 

New Metallica chairperson named

By: Creamer Media Reporter Development and exploration company Metallica Minerals has appointed Barry Casson its independent nonexecutive chairperson, with effect from June 30, to succeed long-standing chairperson David Barwick, who is retiring as a director. Casson joined the Metallica board on December 1, 2010, as an... 

Doray finalising Deflector funding as it terminates metals stream

By: Creamer Media Reporter ASX-listed Doray Minerals has reached an agreement with Sandstorm Gold to terminate the metals purchase agreement over the Deflector gold project, which MD Allan Kelly said on Wednesday would simplify the financing process for the Western Australian project. Sandstorm previously loaned $6-million... 

Ramelius board approves Vivien underground gold mine

By: Mariaan Webb The board of ASX-listed Ramelius Resources has given its approval to start mining at the Vivien gold project, near Leinster in Western Australia, which the company bought from Gold Fields in July last year. Ramelius said on Wednesday that it would mine the Vivien deposit as a three-year... 

Rockfall traps nine miners in Iamgold mine in Quebec

By: Reuters Rescuers were clearing rocks to free nine miners trapped about 1 km underground at Iamgold's Westwood gold mine, in Quebec, on Tuesday after a rockfall, a company spokesperson said. The miners, who have been trapped more than 12 hours, were uninjured and in constant contact with mine officials... 

Barrick investors welcome Chinese tie-up, debt reduction moves

By: Reuters Barrick Gold's first step to long-promised partnerships with China, as well as progress in reaching an ambitious debt-cutting goal, are turning sceptical investors warmer toward the world's biggest gold miner. Barrick said on Tuesday it would sell a stake in its Porgera mine in Papua New Guinea... 

Iamgold pays Sanatana more than $400 000 following failed easement application

By: Henry Lazenby Canadian explorer and project developer Sanatana Resources has received $403 189.86 from international gold producer Iamgold, who paid on behalf of subsidiary Trelawney Mining and Exploration, for the full costs awarded by the Ontario Mining and Lands Commissioner (MLC) regarding Trelawney's... 

Platinum project partners consolidate Waterberg JV, Extension projects

By: Henry Lazenby The joint venture (JV) partners of the South Africa-based Waterberg JV and the Waterberg Extension have agreed to consolidate the platinum projects into a unitised project area, following a firm $20-million funding commitment from JV partner Japan Oil, Gas and Metals National Corporation... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

By: Henry Lazenby One of China’s largest mining companies Zijin Mining Group has extended its global reach after forming two new long-term mining partnerships with Western miners, while sustaining an aggressive pursuit of an Australian gold miner.  The world’s largest gold producer by output Barrick Gold on... 

China's Zijin Mining extends global reach with Barrick, Ivanhoe partnerships; Aus offer

Zuma promises to release Marikana report

By: RDM News Wire President Jacob Zuma has told parliament that he will release the report of the Farlam commission of inquiry into the Marikana massacre by the end of next month. Zuma was responding to mounting pressure‚ including a threatened court action by the families of the victims of the incident which saw... 

Zuma promises to release Marikana report
Photo by Duane Daws
President Jacob Zuma

Zim tungsten mine construction remains on track

By: Megan van Wyngaardt JOHANNESBURG (miningweekly.com) – Progress in the construction of the RHA Tungsten project, in Zimbabwe, was progressing on schedule , multicommodity resource and development company Premier African Minerals reiterated on Tuesday. Processing plant manufacturer Appropriate Process Technologies... 

Nedbank clinches African mining financing deals worth $540m

By: Martin Creamer Nedbank has closed $540-million worth of mining financings on the continent of Africa in the last 18 months. Speaking to Creamer Media’s Mining Weekly Online on Tuesday, Nedbank Capital international mining finance head Nivaash Singh said the bank was very much open for business in Africa and... 

Nedbank clinches African mining financing deals worth $540m
Photo by Duane Daws
Nivaash Singh

Ivanhoe, Zijin Mining partner to develop DRC copper discovery

By: Natalie Greve Canadian mineral explorer Ivanhoe Mines and China’s Zijin Mining Group have agreed to codevelop the Kamoa copper discovery, in the Democratic Republic of Congo (DRC). Under the terms of the agreement, Zijin, through its subsidiary Gold Mountains International Mining, would buy a 49.5% interest in... 

Ivanhoe, Zijin Mining partner to develop DRC copper discovery
Kamoa

Jubilee Platinum raises R11m to fund surface projects

By: Natalie Greve Dual-listed Jubilee Platinum has completed a placing of 37.5-million new ordinary shares at a price of 1.6p apiece to raise some R11.1-million to fund the continued development of its surface platinum processing projects in South Africa. The company said in a statement on Tuesday that its surface... 

Does Eskom have a maintenance plan? 

By: Terence Creamer When the Eskom board suspended four executives in March, Public Enterprises Minister Lynne Brown based her support for the move largely on what she perceived as a lack of “credible information” flowing from the managers on a range of issues, including plant instability and maintenance. In the... 

Does Eskom have a maintenance plan?

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