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Mining’s stressed state moving govts, investors closer – Bristow

By: Martin Creamer     Updated 21 minutes ago The current stressed state of the mining sector was prompting governments and investors to work together to sustain the industry and make it deliver real value for all stakeholders, Randgold Resources CEO Dr Mark Bristow said on Wednesday. Speaking at the 2016 Investing in African Mining Indaba,... 

Mining’s stressed state moving govts, investors closer – Bristow
Photo by Bloomberg
Randgold Resources CEO Dr Mark Bristow

Africa entering phase of becoming factory of world – Menell

By: Martin Creamer     Updated 2 hours 22 minutes ago Africa was entering a phase of becoming the factory of the world requiring the building of facilitating infrastructure, Credit Suisse Securities chairperson Rick Menell. Speaking  during a panel discussion at the 2016 Investing in African Mining Indaba, Menell outlined how Africa’s large resource... 

Africa entering phase of becoming factory of world – Menell
Photo by Duane Daws
Credit Suisse Securities chairperson Rick Menell

Anglo engaging harshest critics, Indaba hears

By: Martin Creamer     Updated 3 hours ago Anglo American is engaging with its harshest critics because they are often the best people to learn from, Anglo American CEO Mark Cutifani said during a panel discussion at the 2016 Investing in African Mining Indaba. Moderated by International Council on Mining and Metals (ICMM) CEO Tom... 

Anglo engaging harshest critics, Indaba hears
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Lily Mine rescue team moves 550 t of rock

By: News24Wire      Updated 2 hours 26 minutes ago At 08:40 on Wednesday morning it was exactly five full days since disaster struck at Lily Mine in Louisville, near Barberton in Mpumalanga. For the past 120-plus hours, rescue teams have been working non-stop to get to the last three mineworkers that remain trapped in a metal container which the... 

PTM produces first concentrate at renamed Maseve mine

By: Henry Lazenby Vancouver-based Platinum Group Metals (PTM) has produced the first concentrate at its Maseve platinum mine (formerly known as the Western Bushveld Joint Venture Project 1), near Rustenburg, South Africa, after completing a 72-hour test during hot commissioning of its concentrator facility. The... 

PTM produces first concentrate at renamed Maseve mine
Photo by Platinum Group Metals
Maseve project, South Africa

China has ‘very serious’ structural problem – Broadman

By: Martin Creamer     Updated 4 hours ago A very serious structural problem is playing itself out in China and not merely a reorienting to consumption-led economy, says Council on Global Enterprise and Emerging Markets director Dr Harry Broadman. Broadman, who delivered the second keynote address at the 2016 Investing in African Mining... 

China has ‘very serious’ structural problem – Broadman

Innovation the key to success in troubled mining sector

By: Kim Cloete     Updated 1 hour 16 minutes ago A study into innovation in Africa’s mining sector has shown that mining houses will need to innovate if they want to succeed in a sector marked by plunging commodity prices, deeper and more dangerous mines, greater geographical complexity and labour unrest. The ‘Innovation State of Play: Africa’... 

Senior lenders back Glencore's loan refinancing

By: Reuters     Updated 4 hours ago Global diversified natural resource company Glencore is expected to wrap up senior syndication of a one-year revolving credit that refinances existing debt by the end of next week after a strong market response, bankers said on Tuesday. Glencore is refinancing a $8.45-billion loan that supports... 

Iamgold reports maiden resource at second West Africa greenfield discovery in 3 yrs

By: Henry Lazenby Canadian gold miner Iamgold has reported a National Instrument 43-101-compliant maiden resource for the Diakha deposit, located on the Siribaya joint-venture (JV) project, in western Mali, West Africa. The Siribaya exploration project is operated by Iamgold under a 50/50 JV with Merrex Gold. 

Anglo American sees no output impact from Los Bronces mine leak

By: Reuters Anglo American said on Tuesday that a milling plant at its Los Bronces copper mine, in Chile, remained closed after a leak was detected over the weekend, but that it did not foresee any impact on production from the stoppage. The leak was found on farmland close to the capital Santiago during a... 

Danakali eyes new product stream at Colluli

By: Esmarie Swanepoel     Updated 3 hours ago Potash developer Danakali would initiate a scoping study into potential sulphate of potash magnesia (SOP-M) production from its Colluli project, in Eritrea. The company said on Wednesday that it had produced high purity, chloride free SOP-M from the Colluli potash project using salts from the... 

Rwanda signs tin and tantalum mining deal with Omani-owned Tri Metals

By: Reuters     Updated 4 hours ago Rwanda has signed a five-year mining contract worth $39-million with a unit of Oman's Mawarid Mining to extract tin, tantalum and niobium, the mining ministry said on Tuesday. Mining, which the government says contributes about 1.5% of Rwanda's $7.9-billion gross domestic product, is the East... 

Motequez proves up for Metals of Africa

By: Esmarie Swanepoel     Updated 3 hours ago A concept study into ASX-listed Metals of Africa’s Motequez graphite project, in Mozambique, has estimated that the project could deliver up to 100 000 t/y of graphite concentrate, for a capital investment of $166-million. Based on a processing rate of 1.2-million tonnes a year, the project is... 

Guptas get interdict against EFF

By: News24Wire      Updated 3 hours ago The Gupta brothers on Tuesday obtained an urgent interdict to stop the EFF from threatening them. Judge Johan Louw granted an order in the High Court in Pretoria, interdicting the party, its leader Julius Malema and its Gauteng spokesperson Ntobeng Ntobeng from making threats of violence against... 

Guptas get interdict against EFF

As pressure on BHP and Glencore grows, Australia cuts may signal nickel revival

By: Reuters     Updated 2 hours 32 minutes ago Australian nickel miners are under increasing pressure to suspend or cut production, with investors eyeing key announcements in coming weeks after rival producers in New Caledonia won a pledge of support from France. Benchmark prices of the steel-making material have fallen more than 45 percent... 

Energy to define future Australia-India relations

By: Esmarie Swanepoel     Updated 3 hours ago India was seeking an increased engagement with Australia on uranium and gas exports to fuel its demand for electricity generation, India’s Minister of State with Independent Charge of Power, Coal, and Renewable Energy, Piyush Goyal, said on Wednesday. Speaking ahead of the third Australia-India... 

Energy to define future Australia-India relations

India unlikely to grant demand for lower iron-ore export tax

By: Ajoy K Das     Updated 3 hours ago The Indian government is unlikely to slash the export tax on high-grade iron-ore although it might prune the rate for low-grade ore, even as miners step up accusations that the government is killing the mining industry. The Steel and Mines Ministry was not keen to submit any proposal for a... 

Creamer Media publishes Construction 2016: A review of South Africa's construction industry research report

Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic empowerment; competition; the... 

Creamer Media publishes Construction 2016: A review of South Africa's construction industry research report

Indonesia allows Freeport to resume copper exports for another six months

By: Reuters     Updated 1 hour 35 minutes ago Indonesia on Wednesday granted Freeport-McMoRan a new six-month export permit for shipments from one of the world's largest copper mines, ending a near two-week stoppage due to a dispute over payment for a new metal smelter. The deal is a relief for both sides as a lengthy halt in exports would... 

Oz Minerals’ 2015 profit surges on record output

By: Esmarie Swanepoel     Updated 3 hours ago Copper/gold miner Oz Minerals reported a 168% increase in its after-tax net profit for the year ended December 31, on the back of record copper production of 130 305 t. After-tax net profit surged to A$130.2-million during the 2015 financial year, compared with A$30.3-million reported in the... 

Mincor widens loss to nearly A$35m

By: Esmarie Swanepoel     Updated 3 hours ago The decision to mothball its Western Australian mines amid a nickel price slump has resulted in Mincor Resources widening its half-year loss from A$1.89-million in the first half of 2015 to A$34.69-million in the six months to December. Mincor on Wednesday reported asset impairments of about... 

Tinkler steps aside as APC boss

By: Esmarie Swanepoel     Updated 3 hours ago Mining personality Nathan Tinkler has resigned as MD and CEO of ASX-listed Australian Pacific Coal (APC) after he was declared bankrupt by the Federal Court. The Federal Court judgment related to a dispute over money owed from the 2013 sale of a luxury jet, with court documents indicating that... 

Ardiden to invest in second lithium project

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed Ardiden has entered into an option agreement for a second Canadian lithium project. The company announced on Wednesday that it had signed an option agreement to acquire the Root Lake lithium project, in Ontario, to complement its recent option over the Seymour Lake... 

Newcrest makes contact with trapped miner

By: Esmarie Swanepoel     Updated 3 hours ago Contact has been established with the miner trapped underground at the Gosowong operation, in Indonesia, gold miner Newcrest Mining reported on Wednesday. Newcrest MD and CEO Sandeep Biswas said that contact with the miner was established through a small diameter hole drilled through 54 m of... 

Unity revenue declines as takeover close draws near

By: Esmarie Swanepoel     Updated 3 hours ago Takeover target Unity Mining has reported a 42% decline in revenue for the six month ending December, compared with the previous corresponding period, as mining ceased at the Henty mine, in Tasmania. Unity also reported a net loss after tax of A$9.6-million, which was on par with the net loss of... 

Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

By: Henry Lazenby Agricultural products producer Agrium Inc has reported positive headline earnings for the three months ended December 31, beating market expectations convincingly. However, its earnings forecast for the full-year 2016 came in below expectations and weighed on its share price performance on... 

Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

Taseko expects to benefit from BC’s power cost deferral programme

By: Henry Lazenby Base metals producer Taseko Mines expects to benefit from recently announced planned support for struggling mining companies in British Columbia. Premier Christy Clark recently revealed that government was working on a plan to enable struggling mining companies to defer some of their “very... 

Richmont announces exploration success

By: Henry Lazenby Gold producer Richmont Mines has increased the compliant proven and probable reserves at its two largest operations by 187%, lifting the reserves at its flagship Island Gold mine near Wawa, Ontario, by 206% (net of depletion) and increasing reserve grade by 29%. As of December 31, the TSX- and... 

Colombian court bans mining, oil projects in fragile moorlands

By: Reuters Colombia's constitutional court has banned mining and oil projects in the country's ecologically delicate moorlands, sources told Reuters on Tuesday. The decision, which came late on Monday, overturns a previous ruling that said mining companies with older titles to moorland areas could continue... 

Second-largest diamond ever recorded named 'our light'

By: Kim Cloete The second-largest diamond ever recovered has been named ‘Lesedi La Rona’ which means ‘Our Light’. The 1 100 ct diamond – about the size of a tennis ball - was discovered at the Karowe mine in Botswana last November. Over 10 000 people entered a competition to name the gem, either by e-mail or... 

Miners owe it to host countries to invest in downturns – Randgold

By: Martin Creamer Mining companies owed it to their host countries and their shareholders to invest in the troughs so that they could reap the benefits in the peaks, Randgold Resources CEO Dr Mark Bristow said on Tuesday. Speaking during a panel discussion at the 2016 Investing in African Mining Indaba, Bristow... 

Miners owe it to host countries to invest in downturns – Randgold
Photo by Duane Daws
Randgold CEO Mark Bristow

Vedanta rephases capex at Gamsberg as part of cost-cutting measures

By: Kim Cloete In light of tumbling commodity prices, global diversified metals and mining company Vedanta Resources has had to restructure costs across all of its businesses, including South Africa-based Gamsberg zinc project .  Vedanta Resources CEO Tom Albanese told delegates at the Investing in African... 

Vedanta rephases capex at Gamsberg as part of cost-cutting measures
Vedanta Resources CEO Tom Albanese

Lonmin CEO says will not shy away from merger or takeover

By: Reuters Lonmin will not "shy away" from a merger or takeover but for now the company was focused on its plan to survive tough market conditions, its chief executive said on Tuesday. "We are continuously looking at options to maximise value for our shareholders and all other stakeholders. Should it be of... 

Lonmin CEO says will not shy away from merger or takeover
Photo by Duane Daws
Lonmin CEO Ben Magara

Southern Africa mining groups warns of steep job losses

By: Reuters Falling commodity prices have led to 70 000 job losses in Southern Africa's mining sector, with more on the horizon, the Mining Industry Association of Southern Africa (Miasa) said on Tuesday. "Miasa notes with concern, the large scale retrenchments in the region as a consequence of depressed... 

Gordhan must close R30bn funding gap to avoid downgrade – economist 

By: Terence Creamer Standard Bank economist Goolam Ballim estimates that Finance Minister Pravin Gordhan has a yearly funding gap of between R30-billion and R50-billion to close through a combination of expenditure cuts and tax hikes in his upcoming Budget in order to stave off a mid-year credit-rating downgrade to... 

Gordhan must close R30bn funding gap to avoid downgrade – economist
Photo by Duane Daws
Standard Bank economist Goolam Ballim

Fuel cell technology fast-tracked with launch of feasibility study in S Africa

By: Kim Cloete An extensive feasibility study of fuel cells has been launched in South Africa in a bid to make the most of South Africa’s vast platinum resources. If successful, Isondo Precious Metals (IPM) believes the manufacturing of fuel cell components could be up and running within two years. The... 

Fuel cell technology fast-tracked with launch of feasibility study in S Africa
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

S African company signs licence agreement to locally manufacture fuel cell components

By: Kim Cloete Isondo Precious Metals (IPM) has acquired the rights to manufacture, use, market and sell licensed fuel cell components worldwide, using a portfolio of membrane-electrode assembly and membrane design, formulation and manufacturing technology. The South African company announced that it had... 

S African company signs licence agreement to locally manufacture fuel cell components
IPM CEO Vinay Somera

Rescue teams 12 m away from trapped miners

By: News24Wire With rescue teams only 12 m away from where the Lily Mine workers in Mpumalanga are trapped, it's now only a matter of drilling through rocks to reach the three. The mine's operations director, Mike Begg, said all efforts on Tuesday would be aimed at breaking through to the lamp room. 

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