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Mgojo transitioning to Exxaro CEO post as Nkosi begins exit process

By: Martin Creamer Mxolisi Mgojo, the executive responsible for carbon operations at the JSE-listed diversified mining company Exxaro Resources, has been appointed to serve as CEO-designate of the black-controlled company as part of a year-long exit process by incumbent CEO Sipho Nkosi, who will retire in March... 

Mgojo transitioning to Exxaro CEO post as Nkosi begins exit process
Photo by Duane Daws
Mxolisi Mgojo

Minerals Minister to announce mining charter audit outcomes

By: Martin Creamer South Africa’s Mineral Resources Minister Ngoako Ramatlhodi will on Tuesday brief the media on the outcomes of the audit to assess the extent to which mining companies have complied with the Mining Charter in the ten years to 2014. This follows the Minister making in clear last month that the... 

Minerals Minister to announce mining charter audit outcomes
Photo by Duane Daws
Ngoako Ramatlhodi

Rockwell sells noncore Tirisano mine for R60m

By: Megan van Wyngaardt Dual-listed Rockwell Diamonds has entered into an agreement to sell its noncore Tirisano project, in the North West, to a mining consortium for R60-million. The consortium, comprising royalty miners that have operated the mine for the last two years, would acquire the entire issued share capital,... 

Randgold lifts 2014 reserves despite record gold production

By: Natalie Greve Notwithstanding a significant depletion from mining in a year that delivered record production of 1.15-million ounces, gold producer Randgold Resources succeeded in increasing its total attributable ore reserves by 0.8% in the 12 months ended December 31, 2014, to 15.2-million ounces. In... 

Randgold lifts 2014 reserves despite record gold production

Nevsun restarts Bisha mine following vandalism, repairs

By: Natalie Greve Vancouver-based miner Nevsun Resources has successfully restarted the processing plant at its Bisha mine, in Eritrea, following repairs to the ball mill and the tailings thickener during a two-week shutdown. The processing plant had been offline since March 13, when a mechanical issue with the... 

Barrick to keep operating Zambia copper mine, pending royalty change

By: Reuters Barrick Gold, the world's biggest gold producer by output, will continue operating its Lumwana copper mine, in Zambia, while awaiting changes to the country's mineral royalty tax, the company said on Friday. Barrick had said it would suspend operations after Zambia hiked mineral royalties for... 

Marikana report to Zuma by Tuesday

By: Sapa The Farlam Commission of Inquiry was finalising its report into the events at Marikana and would hand it over to President Jacob Zuma before the end of March, it said on Saturday. "We are still operating within our terms of reference which says it should be done by the end of the month, which is... 

Marikana report to Zuma by Tuesday

Goldplat reports weighty losses for 2014

By: Megan van Wyngaardt Aim-listed gold producer Goldplat has suffered a £377 000 pre-tax loss and an £827 000 operating loss for the six months ended December 31, 2014, owing to the impact of refinery problems at its operations and increased exposure to gold price fluctuations. The Africa-focused miner said that, while... 

Pura Vida to press play in Morocco

By: Esmarie Swanepoel SX-listed junior Pura Vida Energy was gearing up to spud its first well at Mazagan permit, offshore Morocco, by April, with the company also advancing negotiations with potential farm-in partners over its offshore Gabon assets. At the start of 2013, Pura Vida inked a farm-in agreement with US... 

Highfield DFS delivers ‘low capex, high margin’ result for Muga mine

By: Esmarie Swanepoel A definitive feasibility study (DFS) has confirmed that the Muga potash project, in Spain, was economically feasible, owner Highfield Resources reported on Monday. Based on an ore reserve of 146-million tonnes, at an average grade of 12.73% potassium oxide, the DFS estimated that the project... 

Ferrex progresses DFS for Togo manganese project

By: Megan van Wyngaardt Aim-listed manganese development and iron-ore exploration company Ferrex on Monday reported that the definitive feasibility study (DFS) on its Nayega project, in northern Togo, was nearing completion. The company was now focused on accelerating the start-up model to export 250 000 t/y of... 

Master Drilling sees 32% increase in headline earnings per share

By: Anine Vermeulen JSE-listed Master Drilling’s headline earnings a share increased to $0.12 in the year ended December 31, 2014, compared with $0.10 a share the year before. Revenue rose to $132.03-million in the year under review, compared with $119.69-million in 2013. 

DEA requests additional info on proposed KiPower IPP

By: Zandile Mavuso The Department of Environmental Affairs (DEA) has requested additional information to the final environmental-impact assessment (EIA) report submitted to it for the proposed construction of the 600 MW coal-fired independent power producer (IPP) plant and associated infrastructure for Kuyasa... 

DEA requests additional info on proposed KiPower IPP

Buffalo Coal closes $4m bridge loan

By: Henry Lazenby     Updated 4 hours ago TSX- and JSE-listed miner Buffalo Coal has closed a $4-million loan facility from Resource Capital Fund (RCF), which the company planned to use for its continued restructuring efforts. The company said that despite the restructuring initiatives that had been implemented throughout the group... 

AEL MD steps down, joins Afrox as MD

By: Creamer Media Reporter AECI executive committee member and subsidiary AEL Mining Services MD Schalk Venter has resigned to take up a position at Afrox, effective May 18. Venter, who was replacing Brett Kimber, had been MD since 2012 and had played a leading role in expanding AEL’s international footprint and... 

Nedbank Capital appoints energy, metals unit head

By: Natalie Greve Banking group Nedbank Capital’s commodity finance division has announced the appointment of Anne-Marie Woolley as the new energy and metals unit head, which forms part of its global commodity finance division. London-based Woolley, who was formerly Standard Bank’s structured trade and commodity... 

Nedbank Capital appoints energy, metals unit head

Hummingbird to start grade control and infill drilling at Yanfolila

By: Natasha Odendaal Construction of the Yanfolila gold mine is imminent as Aim-quoted Hummingbird Resources starts grade control and infill drilling at the 1.8-million-ounce Mali-based project. The development and exploration company on Monday said that, following “exceptional” drilling results in October 2014,... 

WA remains Australia’s top resources destination

By: Esmarie Swanepoel More than half of Australia’s mining investment expenditure was invested into Western Australia during 2014, Mines and Petroleum Minister Bill Marmion announced on Monday. The value of Western Australia’s resources sector reached A$114-billion during the full year, eclipsing 2013’s value by... 

Creamer Media publishes Electricity 2015: A review of South Africa's electricity sector research report

Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues. 

Creamer Media publishes Electricity 2015: A review of South Africa's electricity sector research report

Cliffs completes refinancing transactions

By: Henry Lazenby     Updated 11 minutes ago NYSE-listed Cliffs Natural Resources has entered into a new senior secured asset-based revolving credit facility (ABL facility) and has completed a private offering of $540-million total principal amount of 8.25% senior secured notes due on March 31, 2020, the company announced on Monda.... 

Chile Feb copper output falls 1.1% from year earlier

By: Reuters     Updated 38 minutes ago World No 1 copper producer Chile produced 447 810 t of copper in February, a 1.1% decrease from a year earlier, due to plant maintenance at a key project, the government said on Monday. 

Miners Teck, Antofagasta deny they are in merger talks

By: Reuters     Updated 40 minutes ago Teck Resources and Antofagasta denied on Monday that they were in talks about a merger after Bloomberg news reported that the two mining companies were in early stage talks. Teck said in statement it was not in discussions with Antofagasta "in relation to any form of transaction." 

Alcoa shutters São Luís facility in Brazil

By: Henry Lazenby     Updated 42 minutes ago Aluminium and lightweight metals producer Alcoa will close its São Luís (Alumar) facility, in Brazil, the company said on Monday. NYSE-listed Alcoa it would curtail the remaining 74 000 metric tons of smelting capacity as part of its plans to evaluate upstream capacity for possible curtailment,... 

Chevron’s Caltex exit has no impact on Australian LNG projects

By: Esmarie Swanepoel US major Chevron has reiterated that its decision to exit the Australian refining industry would have no impact on its focus to deliver big liquefied natural gas (LNG) projects in Western Australia. Chevron, which sold its 50% stake in refiner Caltex Australia for A$4.7-billion on Friday, stated... 

Poseidon takes ownership of Black Swan

By: Esmarie Swanepoel Nickel miner Poseidon has taken full operational control of the Black Swan nickel project, in Western Australia, after completing the purchase agreement with major Norilsk Nickel. Poseidon initially planned to use the 2.2-million-tonne Black Swan processing plant to treat the ore from its... 

Fisherman's Landing permits extended - LNG

By: Esmarie Swanepoel ASX-listed Liquefied Natural Gas (LNG) has been given some leeway to secure other gas sources for its proposed Fisherman’s Landing LNG project, in Gladstone. The company reported on Monday that it had extended the site agreement for lease with the Gladstone Ports Corporation until the end of... 

Economics improved at Jameson's Crown Mountain

By: Esmarie Swanepoel ASX-listed coal developer Jameson Resources has revealed that despite the fall in coal prices, the Crown Mountain coking coal project, in British Columbia, retained its attractiveness. Jameson on Monday noted that even at the recent benchmark price of $109.50, the Crown Mountain project still... 

NSL signs lump offtake in India

By: Esmarie Swanepoel ASX-listed iron developer NSL Consolidated has signed another offtake agreement for its iron-ore projects in India, this time covering up to 200 000 t of existing Phase 1 dry beneficiation plant lump product. The transaction was signed with pellet producer BMM Ispat, and had the capability of... 

Nova on schedule - Sirius

By: Esmarie Swanepoel Nickel developer Sirius Resources on Monday said that the development of its Nova project, in Western Australia, was running on schedule, with the company also announcing GR Engineering Services as the preferred tenderer for the processing plant. The Nova nickel mine was expected to deliver... 

PanAust receives second takeover offer approach from Gram

By: Esmarie Swanepoel Copper/gold miner PanAust on Monday announced that it had received an unsolicited takeover offer from shareholder Guangdong Rising Asset Management (Gram), which was offering a cash price of A$1.71 for each share it did not already own. Gram currently has a 22.5% interest in PanAust. 

PanAust receives second takeover offer approach from Gram

Southern Copper still moving forward with Tia Maria Peru project - CEO

By: Reuters Southern Copper "will continue making efforts to move forward" with its Tia Maria project in Peru, the CEO of the mining firm told Reuters, just hours after a company spokesperson said the project was being shelved. "Our position is that effectively the statements that were made do not totally... 

Codelco 2014 copper production up 3% to 1.67-million tonnes

By: Reuters Chile's state-run Codelco produced 1.67-million tonnes of copper in full-year 2014, a 3.1% rise from a year earlier, the world's No 1 copper producer said on Friday. The company said the jump in output was mostly due to Codelco's newest mine, Ministro Hales, which produced 141 200 t copper in... 

Encanto Potash gets third-party interest to build 100 MW power plant

By: Henry Lazenby Project developer Encanto Potash has received an expression of interest through its strategic advisor Horgen Holdings from private equity fund manager Fengate Capital Management for the development, construction and financing of a 100 MW power station for the proposed Muskowekwan potash mine and... 

Fortune Minerals secures $4m from financing partner for Colorado silver mine

By: Henry Lazenby Canadian miner Fortune Minerals has secured a further $4-million from financing partner Lascaux Resource Capital Fund to provide working capital for the Revenue silver mine (RSM), in south-west Colorado. Lascaux in October last year provided Fortune with $35-million to finance the acquisition of... 

First Nickel trims 2014 FY net loss

By: Henry Lazenby Ontario-based nickel producer First Nickel has reported a narrower net loss for full-year 2014, as higher nickel prices and improved sales volumes boosted the bottom line. The company, which operates the Lockerby mine, in the Sudbury basin, on Thursday reported a net loss of C$20.7-million for... 

SilverCrest swings to Q4 adjusted loss on higher costs

By: Henry Lazenby Canadian precious metals producer SilverCrest Mines this week reported a higher headline loss for the three months ended December 31, as costs rose mainly as a result of added direct production costs after the company transitioned the Santa Elena mine from an openpit heap-leach operation to an... 

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