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Eskom says New Largo coal supply talks with Anglo back on track

By: Terence Creamer Electricity utility Eskom says it and Anglo American have concluded a Memorandum of Understanding (MoU) that maps out the process to be followed to enable the parties to conclude a final coal-supply contract for the Kusile power station, which is currently being build in the Mpumalanga province.... 

Eskom says New Largo coal supply talks with Anglo back on track
Photo by Duane Daws
Eskom capital division group executive Dan Marokane

Petra BEE partners refinance loan

By: Natasha Odendaal Petra Diamonds’ black economic-empowerment (BEE) partners have secured refinancing from Absa Corporate and Investment Banking and FirstRand Bank, through Rand Merchant Bank (RMB), to settle the R1.08-billion in loans due to Petra following Senakha Mining Investments, Thembinkosi Mining... 

Petra BEE partners refinance loan

Rare ruby expected to attract attention at Gemfields auction

By: Martin Creamer A rare ruby is expected to attract attention at London Aim-listed Gemfields’ upcoming ruby auction. The 40.23-carat rough ruby, unearthed at the company’s Montepuez deposit in Mozambique’s northeast Cabo Delgado province, is expected to set a new benchmark for the quality of African rubies. 

Rare ruby expected to attract attention at Gemfields auction
Photo by Duane Daws
Ian Harebottle

Richland gains traction on evicting illegal miners

By: Natasha Odendaal Illegal mining continued to impact the quality of the tanzanite produced by Richland Resources; however, actions by the gemstone producer and developer and the Tanzanian Government to expel illegal miners from the southern part of the Block C Merelani mine were gaining traction. A government-led... 

Richland gains traction on evicting illegal miners

IFM, DMR settlement agreement made court order

By: Leandi Kolver International Ferro Metals (IFM) on Monday, in court, reached an agreement with Department of Mineral Resources (DMR), stipulating that an agreement reached by the parties last week, which allowed IFM to resume its operations following a Section 54 stoppage, remained in force. This settlement... 

IFM, DMR settlement agreement made court order

Paragon selects design, orders processing plant for Lemphane

By: Natasha Odendaal Aim-listed Paragon Diamonds has finalised the design and order of a $6-million 75 t/h processing plant for the Lemphane kimberlite mine, in Lesotho. The mine is owned by Paragon’s 80%-owned subsidiary Meso Diamonds. 

Operational, financial headwinds place Eskom in worst position in ‘living memory’

By: Terence Creamer State-owned electricity utility Eskom is forecasting a dramatic slump in profitability for the full-year to March 31, 2015, with CEO Tshediso Matona indicating that its profit is likely to fall to R500-million in 2014/15 from nearly R7.1-billion in 2013/14. Releasing interim results on Tuesday,... 

Operational, financial headwinds place Eskom in worst position in ‘living memory’
Photo by Duane Daws
Eskom CEO Tshediso Matona

Dec Medupi Unit 6 sync deadline at risk, as unit interval plan comes into focus 

By: Terence Creamer Electricity utility Eskom has confirmed a likely further, albeit modest, slippage in the schedule for first synchronisation of Medupi Unit 6, which was scheduled for December 24, 2014. The delay is the latest in several to afflict the project, which has faced numerous technical problems and... 

Dec Medupi Unit 6 sync deadline at risk, as unit interval plan comes into focus
Photo by Eskom
Medupi project site

Orezone on schedule to deliver Bomboré feasibility study by Q1 2015

By: Leandi Kolver TSX-listed Orezone Gold Corporation was on schedule to complete the feasibility study of its Bomboré gold project, in Burkina Faso, during the first quarter of next year, after which it would apply for a mining permit to develop the project during the second quarter, COO Tim Miller said on... 

Early start at Syama plant, but further mining deferred

By: Esmarie Swanepoel Gold miner Resolute Mining on Tuesday announced that it was running ahead of schedule at the Syama gold operation, in Mali, after the oxide circuit was commissioned two months ahead of expectations. Wet commissioning of the carbon-in-leach section of the oxide circuit was completed in September,... 

Mayoko-Moussondji proves up for Equatorial

By: Esmarie Swanepoel A prefeasibility study (PFS) into ASX-listed Equatorial Resources’ Mayoko-Moussondji iron project, in the Republic of Congo, has revealed that the project could produce 2.5-million tonnes a year, over an initial eight-and-a-half-year mine life. The PFS estimated that the project would require a... 

Omnia expecting future benefit from new underground mining product, H1 profit lower

By: Leandi Kolver Specialised chemicals provider Omnia was expecting to see financial gains from its new underground charging unit, which enables it to take its emulsion into the underground mining space, during the next financial year, MD Rod Humphris said on Tuesday. Speaking at a presentation of the group’s... 

Omnia expecting future benefit from new underground mining product, H1 profit lower
Photo by Duane Daws
Omnia CEO Rod Humphris

India plans to increase number of coal blocks for maiden auction

By: Ajoy K Das In a bid to hasten the process of getting the coal sector back on the rails, the Indian government is considering increasing the number of coal blocks to be put up for the country’s maiden auction. Considering the demand from thermal power producers with projects stranded by lack of dry fuel... 

Glencore and Peabody join forces for 6Mt/y Australian coal mine

By: Esmarie Swanepoel Diversified miner Glencore has agreed to a 50:50 joint venture (JV) with US energy major Peabody Energy to develop a brownfield opencut coal mine between the existing United and Wambo mines, in New South Wales. The companies announced on Tuesday that the JV project was expected to start in... 

Glencore and Peabody join forces for 6Mt/y Australian coal mine

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

Creamer Media’s Coal 2014 report examines South Africa’s coal industry amid the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the market, as well as various issues... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

US Federal Court grants injunction halting EPA process against Alaska’s Pebble

By: Leandi Kolver The US Federal District Court has granted the Pebble Limited Partnership’s (PLP’s) request for a preliminary injunction in its litigation against the US Environmental Protection Agency (EPA), PLP parent company Northern Dynasty Minerals reported on Tuesday. The EPA in February announced that it... 

US Federal Court grants injunction halting EPA process against Alaska’s Pebble
Northern Dynasty Minerals' Pebble project

Productivity efforts fail to flow through to midtier bottom line

By: Esmarie Swanepoel A new study by advisory firm PwC has revealed that despite the Australian mining industry’s efforts to boost productivity, there has been little impact on the bottom line of midtier miners. In its eighth yearly analysis of the 50 biggest Australian mining companies with a market capitalisation... 

Kidman founder appeals to KBL shareholders to support board changes

By: Esmarie Swanepoel The founder and MD of ASX-listed Kidman Resources, Martin Donohue, has appealed to shareholders of fellow-listed KBL Mining to support a board spill, after revealing that Kidman would not consider extending A$12.6-million in debt if there were no board changes at KBL. Kidman earlier this month... 

WA economy to slow as resources sector shifts to operational phase

By: Esmarie Swanepoel The Western Australian economy was headed for a slowdown as the resources sector transitioned from a construction to an operational phase, the latest Quarterly Economic Brief from the Chamber of Energy and Minerals of Western Australia (CME) revealed on Tuesday. Deloitte Access Economics has... 

WA economy to slow as resources sector shifts to operational phase

Valence reopens South Australia graphite mine

By: Esmarie Swanepoel ASX-listed Valence Industries has officially re-opened its Uley graphite mine, in South Australia, and would restart production pending approval by the state government. The mine, which was placed on care-and-maintenance in 1993 due to market factors, currently contains about 360 000 t of... 

Quebec Court rejects Clifton’s safeguard motion

By: Natasha Odendaal The Quebec Superior Court has rejected TSX-V-listed Clifton Star Resources' request to suspend its obligations under an option agreement for the Duparquet project, in Quebec's Abitibi region. This emerged a month after Clifton filed for a safeguard order, as litigation between some of the option... 

Sinosteel Midwest gains community approval for Weld Range

By: Esmarie Swanepoel Iron-ore developer Sinosteel Midwest Corporation has gained the approval of the Wajarri Yamatji community for its Weld Range project, in the Mid West, following five years of negotiations. The Weld Range project was expected to produce about 15-million tonnes a year, once operational, and would... 

PLD confirms Admiral Bay potential

By: Esmarie Swanepoel ASX-listed PLD Corporation on Tuesday confirmed the potential of the newly acquired Admiral Bay zinc project, in Western Australia. PLD said a review of the project data confirmed that the Admiral Bay project hosted about 72-million tonnes, grading 5.4% zinc equivalent for 4.31-million tonnes... 

New Brazil explorer one to watch, says analyst

By: Natalie Greve Natural resources company Brazil Minerals' commercial strategy of increasing its percentage of polished diamonds sold as opposed to rough diamonds was paying major dividends, as evidenced by the creation of new sales channels and sales in Brazil and the US, stock market research firm Goldman... 

Peru crackdown on illegal gold leads to new smuggling routes

By: Reuters A crackdown on illegal gold mining in Peru has spawned new smuggling routes through its porous border with Bolivia with some gangs using human mules, armored cars and light aircraft to evade capture. The gold is ghosted across jungles, rainforest and Lake Titicaca on the mountainous border, and... 

Fortune issues shares to former Revenue owners

By: Creamer Media Reporter Canadian silver firm Fortune Minerals has issued 17.74-million common shares of the company to the former owners of Colorado-based Revenue silver mine, which it bought earlier this year. The shares were issued at a deemed price of C$0.25 a piece and completes the final instalment of the... 

Goldcorp signs resource development agreement with four First Nations

By: Creamer Media Reporter Vancouver-headquartered Goldcorp has signed a resource development agreement with four First Nations communities, providing a framework for consultation on existing and future operations in the Timmins area, in Ontario. The TSX-listed company said on Monday that the agreement concluded five... 

Lundin starts commercial production at US nickel/copper mine

By: Creamer Media Reporter Canadian diversified miner Lundin Mining on Monday announced the start of commercial production at the Eagle base metals mine, in Michigan, in the US. The high-grade nickel/copper mine, which cost about $400-million to develop, reached commercial production two months after start-up on September... 

Lundin starts commercial production at US nickel/copper mine

Treasury Metals secures second $3m tranche of RMB loan

By: Natalie Greve Having satisfied all conditions precedent, Toronto-listed Treasury Metals has ensured RMB Resources’ continued funding of the company's Goliath gold project, in Northwestern Ontario. The conditions related to the second tranche, which provided the company the ability to access an additional... 

Final stage lithium extraction pilot plant at Cauchari-Olaroz to be inaugurated next month

By: Leandi Kolver TSX-listed Lithium Americas on Monday announced that the formal inauguration of the final stage Posco lithium extraction pilot plant at its Cauchari-Olaroz lithium project in Jujuy, Argentina, was expected to take place next month. Lithium Americas and Korean steel company Posco signed a... 

BHP Billiton signs R10bn aluminium supply deal with black consortium 

By: Martin Creamer The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid metal supply contract with a black-controlled consortium in a transaction that gives the South African aluminium industry a shot in the arm. The diversified major, which is in the process of demerging its... 

BHP Billiton signs R10bn aluminium supply deal with black consortium
Photo by Duane Daws
Graham Kerr with Lucas Msimanga, Sizwe Khumalo, Zodwa Manase and David Austin

Burkina Faso gold project sold to Alecto

By: Leandi Kolver TSX-V-listed Kaizen Discovery on Monday announced that it had completed the sale of its Kerboulé gold project, in Burkina Faso, to Alecto Minerals. Kaizer had received 55-million common shares in Alecto as part of the sales consideration. 

Paladin embarks on sweeping recapitalisation exercise

By: Natalie Greve Uranium producer Paladin Energy has announced a throng of measures aimed at recapitalising the company and addressing its long-term funding requirements, including the convertible bonds due in November next year. Following these and other initiatives, which were due to be implemented in early... 

Kipushi drilling programme indicates high-grade resources – Ivanhoe

By: Leandi Kolver High-grade silver, zinc and copper drill intercepts have been reported in the third batch of assay results from Africa-focused project developer Ivanhoe Mines’ underground diamond-drilling programme at its Kipushi copper/zinc/germanium/lead/precious metals mine, in the Democratic Republic of... 

‘Undervalued’ Lemur to buy back shares

By: Natalie Greve Noting that it did not believe its current share price reflected the “strong” underlying cash position and value within the company’s assets, Lemur Resources has outlined plans to implement an on-market buyback for up to 10% of its issued capital over the next 12 months. The Sydney-listed company... 

Portfolio committee to consult steel-, mineworkers on minimum wage

By: Leandi Kolver The Parliamentary Portfolio Committee on Labour would, this week, interact with steel- and mineworkers on the national minimum wage during the second leg of its public hearing process. The first leg of hearings took place in the Western Cape earlier this month where farmworkers and domestic... 

Portfolio committee to consult steel-, mineworkers on minimum wage
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