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Sasol nears tail end of R15.3bn mine replacement project in Secunda

By: Natalie Greve     Updated 10 minutes ago A sweeping R15.3-billion project that will replace three of petrochemical group Sasol’s ageing coal mines across the Secunda coalfields of Mpumalanga continues to advance within budget and will, once fully completed in 2016, supply the group’s nearby Synfuels complex with 42-million tons of coal... 

Sasol nears tail end of R15.3bn mine replacement project in Secunda
Photo by Duane Daws
Sasol Mining senior VP Peter Steenkamp

Acacia gets go-ahead for underground mining at North Mara

By: Creamer Media Reporter      Updated 4 hours ago LSE-listed Acacia Mining has received the final approval from the Tanzanian Vice-President’s Office to start mining at the Gokona underground project, which formed part of the larger North Mara mine. Commercial production at the Gokona underground project was expected to start late in the second... 

Acacia gets go-ahead for underground mining at North Mara

Fatality at proposed South32 site

By: Esmarie Swanepoel     Updated 7 hours ago Mining giant BHP Billiton has reported a fatality at its Metalloys plant, in South Africa. The miner said in a statement that a contract worker had been fatally injured in an incident on site, on Tuesday. 

Indian consortium struggles to find buyer for Benga coal

By: Esmarie Swanepoel     Updated 5 hours ago Fears have been raised that mining consortium Indian Coal Ventures Limited’s (ICVL’s) strategic objective for its Mozambique coal investments was going awry, as production from the Benga mine have now been earmarked for domestic sales, rather than exports to India. According to an ICVL... 

S African blackouts, soaring Indian imports lift thermal coal prices

By: Reuters     Updated 4 hours ago Power blackouts in South Africa and soaring Indian imports in anticipation of an El Nino climatic event have pushed thermal coal prices in the Indian and Pacific Ocean basin up since the beginning of May, raising their premium over European cargoes. Prompt cargoes from South Africa's Richards Bay... 

Perseus hopes for Sept construction start at Sissingue

By: Esmarie Swanepoel     Updated 6 hours ago Subject to securing the necessary debt funding, gold miner Perseus said it was hoping to start production at its Sissingue project, in Côte d’Ivoire, before the end of September this year. At the end of April, the miner laid the first stone at its second gold mine. 

Guinea Bissau reviews contracts from mining to timber – PM

By: Reuters     Updated 5 hours ago Guinea Bissau is reviewing contracts signed by previous governments as the West African country seeks to ensure miners have sufficient means to kick-start its $2-billion economy, its prime minister told Reuters. Domingos Simoes Pereira, elected at polls a year ago that sealed a transition back to... 

Anglo's Los Bronces fined $6.2m for Chile environmental breaches

By: Reuters Anglo American's Los Bronces copper mine was being fined 3.8-billion pesos ($6.24-million) over infractions that include acid drainage at a tailings deposit, Chile's environmental regulator said on Tuesday. It also ordered the closure of that deposit until "a definitive solution that permits the... 

No relief for Canada's BC as PwC expects challenges to continue into 2015

By: Henry Lazenby British Columbia's (BC's) mining sector was not showing any early signs of improvement in 2015; however, investment in the mining industry needed continue despite today's challenging conditions, advised PwC's BC mining practice partner and leader, Mark Platt. "Miners need to keep exploring if... 

BC government buys Klappan coal licences to spur Aboriginal parleys

By: Henry Lazenby The British Columbia (BC) provincial government has bought 61 coal licences in the Klappan region from joint-venture partners Fortune Minerals and Posco Canada for $18.3-million, in an effort to move forward discussions with Aboriginal groups on a shared development vision for the region.... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

By: Henry Lazenby A new study has found that the cost to explore and build new mines is as much as 2.5 times higher in northern Canada, mainly as a result of a lack of critical infrastructure. The study, titled ‘Levelling the Playing Field’, found that the cost of mineral exploration and building and operating... 

Exploration and mine development up to 2.5 times more costly in Canada’s North

Glencore JV-funded berth boosts Townsville port capacity

By: Esmarie Swanepoel     Updated 6 hours ago Mining major Glencore has secured long-term exports from the Port of Townsville, following the commissioning of the A$85-million Berth 8 facility. Jointly funded by the Port of Townsville, Glencore and Incitec Pivot, the Berth 8 facility delivered two- and-a-half times more shiploading capacity,... 

Rio Tinto tipped to stick to no-output cut mantra on iron ore

By: Reuters     Updated 4 hours ago Rio Tinto, the most profitable iron-ore producer, is in a strong position to keep its mines running at full tilt, even as rivals BHP Billiton and Brazil's Vale apply the brakes in a market suffering a supply glut. Despite a plunge in ore prices, Rio Tinto is not expected to face pressure from... 

Creamer Media publishes Iron-Ore 2015: A review of the iron-ore sector electronic research report

Creamer Media’s Iron-Ore 2015 report provides an overview of the global iron-ore market, with particular reference to pricing, supply and demand, as well as the trade in iron-ore. It provides information on not only the major mergers and acquisitions, and the trade of iron-ore in the sector, but... 

Creamer Media publishes Iron-Ore 2015: A review of the iron-ore sector electronic research report

PanAust blames Gram offer for low share price

By: Esmarie Swanepoel     Updated 5 hours ago Takeover target PanAust on Wednesday blamed a takeover offer from shareholder Guangdong Rising Asset Management (Gram) for the company’s shares remaining fairly stagnant since early April. In a communication to shareholders, PanAust pointed out that the share price of other listed copper miners... 

Phosphate Australia spurns improved offer

By: Esmarie Swanepoel     Updated 6 hours ago The directors of ASX-listed Phosphate Australia have rejected an increased offer from suitor Mercantile Investment, saying the revised offer still undervalued the company. Mercantile on Wednesday upped its offer price for Phosphate Australia shares from 2c each, to 2.2c each. 

Phosphate Australia spurns improved offer

Mulga Rock scoping comes up positive - Vimy

By: Esmarie Swanepoel     Updated 6 hours ago A scoping study into ASX-listed Vimy Resources’ Mulga Rock uranium project, in Western Australia, has estimated that the project could provide some 47-million pounds of uranium oxide (U3O8) over a mine life of 16 years. The scoping study estimated that the Mugla Rock project would generate... 

Oz Minerals appoints new management

By: Esmarie Swanepoel     Updated 6 hours ago Copper miner Oz Minerals has added to its executive team, recruiting senior executives as part of its relocation plans to Adelaide. Oz Minerals previously announced plans to save some A$44-million in cost from a roll-out of strategic changes, which included the divestment of Oz Minerals’... 

Marengo increases Yandera resources

By: Esmarie Swanepoel     Updated 6 hours ago Dual-listed Marengo Mining has updated the resource estimate for its Yandera copper/molybdenum/gold project, in Papua New Guinea. The ASX- and TSX-listed developer said on Wednesday that the project was estimated to host a measured and indicated resource of 630-million tonnes, grading 0.33%... 

Kinross keen on M&A but will take a disciplined approach – CEO

By: Reuters Kinross Gold is scouting for acquisition opportunities but vows it will be disciplined and only strike a deal if it offers value to shareholders, the Canadian gold miner's chief executive said on Tuesday. "On the external front, we are looking like everyone else is," Paul Rollinson said in an... 

Taseko Mines improves cornerstone operation’s economics, extends life

By: Henry Lazenby An updated mine plan for base metals miner Taseko Mines’s 75%-owned Gibraltar openpit copper/molybdenum mine, in south-central British Columbia, has improved the operation’s financial metrics, lifted reserves and extended the mine life. The latest mine plan, the result of a detailed, six-month... 

US February silver output continues slide

By: Henry Lazenby US silver output has declined by a further 5% during February, after recording an 11% quarter-on-quarter drop in January. According to the US Geological Survey’s latest mineral industry survey, US mines produced 84 400 kg of silver in February, compared with 89 300 kg in January, which was a... 

Century Aluminum braces for Kentucky lockout as USW reject deal

By: Reuters Unionised workers at Century Aluminium's Hawesville, Kentucky smelter rejected the company's proposed labour agreement late on Monday, taking one of the biggest US aluminium plants a step closer to industrial action, the first for the sector in years. Some 84% of members voted against the... 

Vast Resources to deliver maiden revenue in H2

By: Natasha Odendaal Aim-quoted Vast Resources is eyeing maiden positive cash flow from its emerging Pickstone-Peerless gold mine, in Zimbabwe, in the second half of 2015, as the joint venture is advanced. The emerging midtier, multicommodity, multijurisdictional development and mining company, formerly known as... 

Coal IPP programme bid window likely to be extended – DoE

By: Natalie Greve The bidding window for government’s Coal Baseload Independent Power Producers (IPP) Programme is likely to be pushed back beyond its initially indicated June 8 closing date as the Department of Energy (DoE) tackles the design of a complex programme framework and fields requests for extensions by... 

Coal IPP programme bid window likely to be extended – DoE

Production up at Glencore’s South African coal mines

By: Martin Creamer Production from Glencore’s South African thermal coal mines was 10% higher in the three months to end March. The London-, Hong Kong- and Johannesburg-listed diversified mining and marketing company, headed by CEO Ivan Glasenberg, said on Tuesday that the ramp up of its newly commissioned... 

Production up at Glencore’s South African coal mines
Photo by Duane Daws
Ivan Glasenberg

CITIC may appeal dismissal of lawsuit against Australian foe 

By: Reuters CITIC Ltd is considering appealing a court decision to dismiss a lawsuit it brought against Australian billionaire Clive Palmer over the use of funds that were meant for operating the Chinese firm's iron ore port. The case is one strand in a bitter legal fight centred on royalties CITIC owes... 

Epanko development gains momentum

By: Esmarie Swanepoel Graphite developer Kibaran Resources has moved a step closer to the development of its Epanko graphite project, in Tanzania, with the company announcing on Tuesday that it had received an environmental permit from the office of the Vice President. The certificate was a pre-requisite for the... 

WA committed to help in Afghan resource development

By: Esmarie Swanepoel Western Australian Mines and Petroleum Minister Bill Marmion this week said that the state’s experience in resource development could assist war-torn Afghanistan to rebuild its economy. “Despite damage during the fighting following the withdrawal of the Soviets in 1989, and disruption during the... 

Beacon Minerals completes mining at Halleys East

By: Esmarie Swanepoel Australian junior Beacon Minerals on Tuesday announced that the company had completed mining operations at its Halleys East gold mine, in Western Australia. The mine produced its first gold in May last year. 

Valence adds to Uley resource

By: Esmarie Swanepoel Graphite developer Valence Industries has reported a 50% increase in the graphite resource of its Uley pit 2 project, in South Australia. The project is estimated to host about 4.54-million tonnes of resource, grading 11.63% graphitic carbon, for 520 000 t of contained graphite. Some 68% of the... 

CoAL extends Mooiplaats sales agreement to end-June

By: Megan van Wyngaardt South Africa-focused coal miner Coal of Africa Limited (CoAL) and Blackspear Holdings have agreed to extend the sale and purchase agreement for the Mooiplaats colliery to June 30. CoAL announced in September 2014 that it would sell the colliery, which had been placed on care and maintenance in... 

Chinese firm to fund Atrum’s Groundhog mining equipment

By: Esmarie Swanepoel Coal developer Atrum Coal has signed a $100-million financing agreement with State-owned China Coal Technology & Engineering Group to fund mining equipment for the Groundhog project, in Canada. Stage 1 of the financing package includes the supply of roadheaders, mobile diesel equipment, conveyor... 

BEE firm to help fund Ferrum Crescent’s Moonlight BFS

By: Esmarie Swanepoel ASX-, JSE- and Aim-listed Ferrum Crescent has signed a memorandum of understanding with South Africa’s Principal Monarch Investment for $12-million in funding to complete the bankable feasibility study on its Moonlight iron project, in South Africa’s Limpopo. In return for the $12-million in... 

Rio and BHP ‘oversupply’ to crush Australian iron-ore market – Forrest

By: Esmarie Swanepoel Mining magnate Andrew Forrest launched a scathing attack on majors Rio Tinto and BHP Billiton, claiming that the miners’ decision to flood the market with iron-ore could cost the Australian economy between A$50-billion and A$60-billion a year. In an interview with the ABC’s The Business, Forrest... 

Rio and BHP ‘oversupply’ to crush Australian iron-ore market – Forrest
Photo by Bloomberg
Andrew Forrest

Premier’s RHA process plant ready to ship, second loan note tranche expected

By: Natasha Odendaal The process plant to be installed at the flagship RHA tungsten project has been completed and is ready to be transported to the site in Zimbabwe, multicommodity natural resource group Premier African Minerals said on Tuesday. The project remained on track for commissioning in June as... 

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