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Gold Fields maintains production guidance, but South Deep to miss FY target

By: Creamer Media Reporter      Updated 1 hour 9 minutes ago JSE- and NYSE-listed Gold Fields still expects to meet its full-year production guidance of 2.10-million to 2.15-million ounces, despite the fact that output from its South African South Deep mine for the full year is likely to be 5% to 10% below guidance of 315 000 oz. The gold miner, which on... 

Gold Fields maintains production guidance, but South Deep to miss FY target
Photo by Duane Daws
South Deep

Côte d'Ivoire govt urged to work with mining industry to unlock economic potential

By: Anine Kilian     Updated 2 hours 2 minutes ago Côte d'Ivoire’s government must work closely with the mining industry in a committed, long-term partnership to develop the industry, says Randgold Resources CEO Mark Bristow. In a media release issued on Sunday, he noted that the country was highly prospective and had one of Africa’s most... 

Acacia-Tanzania proposed settlement on track – Barrick

By: Reuters     Updated 3 hours ago Barrick Gold said on Friday a proposed mining settlement it negotiated with Tanzania for its Acacia Mining unit was not under threat, even though Acacia said it could not immediately make a $300-million payment included in the deal. Barrick, which owns 63.9% of Acacia, announced on Thursday the... 

Lucapa boosts Lesotho diamond project’s economics

By: Esmarie Swanepoel     Updated 2 hours 7 minutes ago A new development plan for the Mothae kimberlite diamond mine, in Lesotho, has significantly improvedproject economics, ASX-listed Lucapa Diamonds reported on Monday. Lucapa’s initial plans for the Mothae project would have seen the company process some two-million tonnes of mainly weathered,... 

Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal

By: Terence Creamer     20th October 2017 The black-empowerment consortium selected as the preferred bidder for Anglo American’s Eskom-tied coal operations is optimistic that the State-owned utility will approve the ceding of three coal supply agreements (CSAs) from Anglo to Seriti Coal by year-end. The R2.3-billion transaction was... 

Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal
Photo by Duane Daws
Thebe Energy and Resources CEO Sizwe Mncwango

Asanko optimistic following encouraging Q3 production

By: Natasha Odendaal     20th October 2017 Despite three mill motor outages impacting on output in July and August, the third quarter of the year ended on a more positive note for dual-listed Asanko Gold, with the company maintaining its revised guidance of 205 000 oz to 225 000 oz of gold for the full year. While the Asanko Gold Mine... 

Ncondezi enters into negotiations with GE, CMEC for mine development

By: Natasha Odendaal     20th October 2017 Aim-listed Ncondezi Energy has entered into negotiations with China Machinery Engineering Corporation (CMEC) and General Electric (GE) South Africa for the development, construction and operation of the integrated Ncondezi 300 MW coal-fired power project and openpit coal mine, in Tete,... 

Gamsberg zinc project a thumbs up for South Africa amid investment slowdown

By: Mia Breytenbach     20th October 2017 Amid low levels of capital project activities in South Africa, the $400-million Gamsberg zinc and lead project, in the Northern Cape, has become the largest mining project under execution in the country. “Commentators have noted that this significant investment in the South African mining... 

Gamsberg zinc project a thumbs up for South Africa amid investment slowdown

Bushveld shareholders approve tin asset demerger

By: Creamer Media Reporter      20th October 2017 Shareholders of Aim-listed diversified mineral development company Bushveld Minerals have approved the demerger of the company’s tin assets. Bushveld earlier this month revealed its plans to demerge its tin assets, comprising the Mokopane tin and Zaaiplaats tin tailings projects in South Africa,... 

Energia appoints exploration manager in Italy

By: Creamer Media Reporter      Updated 45 minutes ago Explorer Energia Minerals has appointed Fabio Granitzio to head up its exploration strategy in Italy, focusing on the flagship Gorno zinc project and other exploration assets, including the newly granted licence covering the historic Salafossa project. Prior to his appointment, Granitzio was... 

Kiziltepe output beats feasibility forecast by 6%

By: Mariaan Webb     Updated 1 hour 4 minutes ago The Kiziltepe joint venture (JV) mine, in Turkey, has performed better than forecast in its first quarter of commercial production, with gold and silver output and sales exceeding feasibility study estimates by 6% on an a yearly basis. The Kiziltepe mine, in which Ariana Resources and Proccea... 

Kiziltepe output beats feasibility forecast by 6%

Russia's En+ sets IPO price range

By: Reuters     Updated 1 hour 47 minutes ago Russia's En+ Group, which manages Russian tycoon Oleg Deripaska's aluminium and hydropower businesses, has set a price range for its initial public share offering (IPO) in London and Moscow, it said on Monday. The price range was set at $14 to $17 per Global Depositary Receipt (GDR), with the... 

Southern Copper says Q3 profit doubled, expects Tia Maria permit

By: Reuters     Updated 1 hour 50 minutes ago Southern Copper Corp said on Friday that its net profit doubled to $401.8 million in the third quarter from the same period a year earlier as sales surged on higher copper prices. The Arizona-based company, controlled by Grupo Mexico , added that it expects Peru's government to issue a... 

Southern Copper says Q3 profit doubled, expects Tia Maria permit

India relaxes rules for coastal and offshore mining

By: Ajoy K Das     Updated 1 hour 55 minutes ago In a bid to deepen exploration and mining of atomic and rare earth minerals across the country, the Indian government is putting in place a slew of measures. For starters, the government has notified that it will relax mining norms in fragile coastal areas and that the exploration and mining of... 

Grupo Mexico profit more than doubles on metals, acquisition

By: Reuters     Updated 1 hour 59 minutes ago Mexican mining and infrastructure company Grupo Mexico said on Friday that its net profit more than doubled in the third quarter, as metals prices rose and it included a new acquisition. The company said net profit was $488 million, compared with $221 million in the third quarter of 2016. 

Australian oil and gas producers see losses widen

By: Esmarie Swanepoel     Updated 2 hours 6 minutes ago Operating revenues of Australian oil and gas producers fell by more than 20% during 2015/16, compared with the previous financial year, as falling commodity prices struck the bottom line. In a new industry financial survey, the Australian Petroleum Production and Exploration Association (Appea)... 

Australian oil and gas producers see losses widen

Liontown makes a lithium play in WA

By: Esmarie Swanepoel     Updated 2 hours 8 minutes ago ASX-listed junior Liontown Resources has acquired the Buldania and Norcott lithium projects, in Western Australia. The company on Monday announced that it had entered into an agreement with a subsidiary of fellow-listed Westgold Resources, Avoca Resources, to acquire the lithium rights over the... 

Karlawinda could deliver 100 000 oz/y for Capricorn

By: Esmarie Swanepoel     Updated 2 hours 9 minutes ago A feasibility study (FS) into the Karlawinda gold project, in Western Australia, has found that the project could support an average production of 100 000 oz/y over a six-and-a-half-year mine life. ASX-listed Capricorn Metals on Monday said that the FS was based on an ore reserve of 21-million... 

Saracen reports record quarter

By: Esmarie Swanepoel     Updated 2 hours 21 minutes ago Gold miner Saracen Mineral holdings has reported record quarterly gold production in the three months to September, driven by record production from its Thunderbox mine, in Western Australia. Gold production during the September quarter reached 80 274 oz, up from the 79 985 oz produced in the... 

Senex brings Western Surat wells on line

By: Esmarie Swanepoel     Updated 2 hours 22 minutes ago ASX-listed Senex Energy has brought the first 30 appraisal wells on line as part of its Phase 2 investment in the Western Surat gas project, in Queensland. The company in February this year announced that it would invest A$50-million in the 30-well drilling campaign to further its understanding... 

Radio Hill refurbishment starts

By: Esmarie Swanepoel     Updated 2 hours 23 minutes ago Junior Artemis Resources has started the refurbishment of its newly acquired Radio Hill processing plant, in Western Australia. In addition to upgrading the crushing, grinding and flotation circuits, Artemis will also install a new high recovery gold circuit capable of processing 500 000 t/y. 

Cascavel gets maiden resource estimate

By: Esmarie Swanepoel     Updated 2 hours 24 minutes ago ASX-listed Orinoco Gold has reported a maiden Joint Ore Reserves Committee compliant mineral resource of 4 500 t, grading 15.4 g/t gold for 2 200 oz of contained gold at its Cascavel project, in Brazil. The company told shareholders on Monday that the mineral resource estimate covered only the... 

Diesel switch sends rocketing rhodium market to new heights

By: Bloomberg     20th October 2017 Rhodium and ruthenium are having a banner week. Rhodium, mainly used in autocatalysts to curb harmful emissions, is benefiting as more European consumers choose gasoline-powered cars and trucks over diesel, said Jonathan Butler, a precious metals strategist at Mitsubishi Corp. in London. Drivers... 

Alrosa finds 34 ct yellow diamond

By: Creamer Media Reporter      20th October 2017 Russian miner Alrosa’s Almazy Anabara has extracted a large, 34.17 ct yellow diamond at its Ebelyakh alluvial deposit. The rough diamond measures 20.17 by 19.65 by 15.1 mm and is a transparent intense yellow crystal with a small inclusion in the intermediate zone. 

New AfDB, OpenOil report shows gaps in extractive resources management

By: Natasha Odendaal     20th October 2017 The African Development Bank (AfDB) and Berlin-based financial analysis firm OpenOil are hoping to trigger a new debate within Africa’s oil and gas and mining sectors with the publication of a jointly produced report on how African governments use financial models to manage projects. In an effort... 

Nersa releases dates and venues for upcoming Eskom hearings

By: Creamer Media Reporter      20th October 2017 The National Energy Regulator of South Africa (Nersa) has published the dates and venues for its upcoming public hearings into Eskom’s revenue application for the 2018/19 financial year. Eskom has applied for an allowable revenue of R219.5-billion, which would translate to a 19.9% average... 

Nersa releases dates and venues for upcoming Eskom hearings

Acacia seeks further clarification on Barrick’s agreement with Tanzania govt

By: Creamer Media Reporter      20th October 2017 LSE-listed Acacia Mining is seeking further clarification from its parent company Barrick Gold, which owns 63.9% of Acacia, regarding the agreement that was reached between Barrick and the government of Tanzania on Thursday to resolve a tax dispute. The government and Barrick in July started... 

Acacia seeks further clarification on Barrick’s agreement with Tanzania govt
Acacia's Bulyanhulu mine.

Bacanora secures environmental nod for Mexico lithium project

By: Mariaan Webb     20th October 2017 Calgary-headquartered Bacanora Minerals has secured the final key requirement for its flagship lithium project, announcing on Friday that Mexico’s Environmental Ministry had approved a 35 000 t/y lithium carbonate operation at Sonora. The approval is a major milestone for Bacanora, which is... 

Klondex on track for year-end guidance

By: Natasha Odendaal     20th October 2017 Dual-listed Klondex Mines produced 40 818 gold equivalent ounces and sold 38 012 gold equivalent ounces from its Nevada and Canada operations during the third quarter of 2017. This brought the mine’s nine-months-to-September output to 141 855 oz, nearing the 2017 guidance of between 213 000 oz... 

New Gold achieves first commercial production at Rainy River

By: Samantha Herbst     20th October 2017 TSX- and NYSE-listed intermediate gold miner New Gold has achieved first commercial production at its Ontario-based Rainy River mine, about two weeks ahead of schedule. "Achieving commercial production is a major milestone for New Gold and the Rainy River team. With the hard work, dedication and... 

MinRes eyes spodumene concentrate at Wodgina

By: Esmarie Swanepoel     20th October 2017 Lithium miner Mineral Resources (MinRes) is hoping to start the construction of a spodumene concentrate plant at its Wodgina lithium operation, in Western Australia, by the fourth quarter of this year. The company on Friday announced plans to instal three modules capable of producing 250 000 t/y... 

Rio is said to hold talks with Indonesia on Grasberg mine exit

By: Bloomberg     20th October 2017 Rio Tinto Group has held talks with Indonesian groups, including State-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio held meetings in recent weeks,... 

Rio is said to hold talks with Indonesia on Grasberg mine exit
Grasberg gold and copper operation, Indonesia

Mexico expects to hold a third oil and gas auction in 2018

By: Reuters     20th October 2017 Mexico's oil regulator will likely add another auction in 2018 featuring conventional onshore oil and gas blocks, the head of the National Hydrocarbons Commission (CNH) said on Thursday, potentially teeing up a third tender in an election year. The bid terms will be announced later this year or... 

South32 is said to study bid for $1.6bn Rio coal portfolio

By: Bloomberg     20th October 2017 South32 is studying a potential bid for Rio Tinto Group’s A$2-billion ($1.6-billion) coking coal portfolio, people familiar with the matter said, as it seeks to take advantage of surging prices for the steelmaking ingredient. The Perth-based company is working with an adviser as it weighs an... 

South32 is said to study bid for $1.6bn Rio coal portfolio
Rio Tinto's Kestrel mine.

Barclays sued by fund for $850m for copper market abuse

By: Bloomberg     20th October 2017 Red Kite Management, the world’s largest metals hedge fund, is suing Barclays Plc for alleged market abuse in the copper market that it claims cost the firm at least $850-million between 2010 and 2013. The case pits a $2-billion hedge fund against a bank that has been hit by a number of scandals... 

Nigeria seeks to boost mining reserves to lure investors

By: Bloomberg     20th October 2017 Nigeria plans to spend 15-billion naira ($42-million) over the next year to explore for minerals and attract investors into mining and reduce its dependence on oil, Solid Minerals Development Minister Kayode Fayemi said. “Because we are starting from a low base, we want to have a portfolio of... 

Silver Lake reports solid quarter

By: Esmarie Swanepoel     20th October 2017 Gold miner Silver Lake Resources has reported another quarter of solid production during the period ended September, with the miner producing 34 692 oz of gold. The performance compares with 38 366 oz produced in the June quarter. Production in the September quarter affected by lower grades and... 

Pioneer raises cash for exploration

By: Esmarie Swanepoel     20th October 2017 ASX-listed Pioneer Resources has raised A$5.6-million through a share placement to sophisticated investors and a share purchase plan. The company on Friday said that it had raised an initial A$4.3-million through the SPP issuing about 312.3-million shares at a price of 1.4c each. 

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