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Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal

By: Martin Creamer     Updated 1 hour 2 minutes ago Platinum mining company Northam on Wednesday concluded a fully funded ten-year R6.6-billion black economic-empowerment (BEE) equity transaction underpinned by a R4.6-billion capital raising, which has the potential to position the JSE-listed company as a fully integrated, fully empowered South... 

Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal
Photo by Duane Daws
Northam Platinum CEO Paul Dunne

BHP reports record production, says no major projects under way

By: Esmarie Swanepoel     Updated 5 hours ago Mining giant BHP Billiton has reported record production across four commodities and eight operations during the quarter ended September, including from its Pilbara iron-ore operations. Iron-ore production for the three months under review increased by 1% on the previous quarter, and 17% on the... 

BHP reports record production, says no major projects under way
Photo by Bloomberg
BHP CEO Andrew Mackenzie

Global REE supply threatened after reports that 40% of Chinese supply is illegal

By: Henry Lazenby China, the world's most prolific producer of rare earth elements (REE),  has revealed that 40% of its supply is from illegally mined sources in the country, market-focused research house Benchmark Mineral Intelligence analyst Simon Moores reported on Tuesday. Industrial Minerals Company of... 

Global REE supply threatened after reports that 40% of Chinese supply is illegal

Cape Lambert to fund Timis Mining’s Marampa buy

By: Esmarie Swanepoel     Updated 4 hours ago Resource investment company Cape Lambert on Wednesday announced that it had entered into a term sheet with Timis Mining to provide that company with about $20-million for its planned acquisition of the Marampa iron-ore project, in Sierra Leone, from the administrators of London Mining. Under the... 

PEA outlines significant extra cash flow for True Gold’s Karma project

By: Henry Lazenby A preliminary economic assessment (PEA) on TSX-V-listed True Gold’s North Kao deposit has outlined an extra $118-million in after-tax free cash flow for the project developer’s Karma gold project, in Burkina Faso. The report, released on Tuesday, also found that – as a result of its high gold... 

Sibanye maintains FY output guidance

By: Creamer Media Reporter      Updated 2 hours 30 minutes ago Gold miner Sibanye Gold has maintained its output guidance for 2014 at 1.61-million ounces. The company, which would release an operating update for the third quarter on October 28, on Tuesday said total cash costs for the year to end December 31 would be about $850/oz, while all-in sustaining... 

Shaw River signs offtake deal with Noble

By: Esmarie Swanepoel     Updated 2 hours 9 minutes ago ASX-listed Shaw River Manganese on Wednesday announced that it had secured an offtake agreement with Noble Resources International for up to 30 000 t of manganese from its flagship Otjozondu project, in Namibia. The sales contract was structured for fixed pricing, at different product... 

China overseas direct investment seen rising 10% a year

By: Reuters     Updated 1 hour 51 minutes ago China's overseas direct investment is projected to rise at least 10% annually for the next five years, a trend that will soon make the country a net capital exporter, a senior commerce ministry official said on Wednesday. "It's only a matter of time," said Zhang Xiangchen, an assistant minister... 

De Beers plans to keep South African diamond exploration spend at R30m a year

By: Martin Creamer Diamond company De Beers plans to maintain its diamond exploration spend in South Africa at R30-million to R35-million a year. De Beers Consolidation Mines (DBCM) CEO Phillip Barton, who spoke to Mining Weekly Online in a video interview (see attached) on the sidelines of the Diamond Route... 

De Beers plans to keep South African diamond exploration spend at R30m a year
Photo by Creamer Media
Phillip Barton (right) and Martin Creamer

Diminishing gas continues to stifle PetroSA’s GTL output

By: Terence Creamer South Africa’s national oil company PetroSA produced 14% less refined product in 2013/14 than budgeted, owing to diminishing gas feedstock. The State-owned group also warned that that inadequate feedstock would remain a constraint on its future performance. The company produces 5.8-million... 

Diminishing gas continues to stifle PetroSA’s GTL output

Brown outlines State company board costs

By: Creamer Media Reporter Public Enterprises Minister Lynne Brown has released details of the remuneration of the chairpersons and nonexecutive directors of the various State-owned company boards falling under her Ministry. The remuneration figures, which are attached, are based on figures published by the companies as of... 

Brown outlines State company board costs
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Production restored at MDL’s Senegal mineral sands project

By: Natalie Greve Mining operations are back in ramp-up mode at Australia-based Mineral Deposits Limited’s (MDL’s) Grande Côte mineral sands project, in Senegal, after being interrupted in August following impellor failures of the main dredge pump. The group said in a third-quarter operations review that mining... 

Sentula sells DRC-based drilling assets amid exploration crunch

By: Natalie Greve Sentula Mining subsidiaries Sentula Mining Services and Senex have inked a deal to offload idle property, plant, equipment and associated inventory held in the Democratic Republic of the Congo (DRC) to Orezone Drilling Mauritius and its DRC-focused drilling subsidiary Orezone Drilling DRC for... 

Grindrod unveils new cost-effective shunting, short-haul locomotive

By: Natasha Odendaal JSE-listed Grindrod’s rail division on Tuesday vowed to make rail operations more cost-effective in Africa, as Grindrod Locomotives unveiled its new, cost-effective fit-for-purpose shunting and short-haul locomotive. The new GS7, launched at Rovos Rail in Pretoria, boasted 80% local content and... 

Grindrod unveils new cost-effective shunting, short-haul locomotive
Photo by Duane Daws
Grindrod rail divisional CE James Holley

Yaoure 2014 drilling programme confirms presence of high-grade areas

By: Leandi Kolver The 2014 drilling programme at West Africa-focused gold mining company Amara Mining’s Yaoure gold project, in Côte d'Ivoire, has confirmed the presence of high-grade areas in the Yaoure central zone and demonstrated strong continuity in the high-grade CMA zone. Amara chairperson and CEO John... 

Drilling at Cameroon iron-ore play reveals upside potential

By: Natalie Greve A reconnaissance drilling programme at West African Minerals’ South Sanaga iron-ore license, in Cameroon, has intersected multiple coarse-grained magnetite gneiss packages with grades and thicknesses sufficient to initiate a follow-up drill programme designed to deliver a maiden mineral resource... 

Second drill hole at Lac Dinga confirms potash mineralisation

By: Natalie Greve Sub-Saharan Africa-focused African Potash has intersected multiple potash seams at the second exploration drill hole at its Lac Dinga potash project, in the Republic of Congo. The latest drill hole, which was completed at one of two delineated target locations, intersected a 112-m-thick salt... 

CAT Phone Promotion - Engineering News & Mining Weekly - Print and Website Access

     Updated 5 hours ago Stand a chance to win a CAT Phone.  Subscribe to Engineering News & Mining Weekly at a 30% discounted rate. The weekly print magazines will be posted to your preferred postal address. Also gain online access to: Project Browser - providing an overview of latest developments and useful contract... 

CAT Phone Promotion - Engineering News & Mining Weekly - Print and Website Access

Baosteel taps ex-junior miner CEO for Australia iron ore project

By: Reuters     Updated 2 hours 7 minutes ago China's Baosteel has snared the former boss of Iron Ore Holdings (IOH) to lead the development of its West Pilbara Iron Ore project in Australia, in a blow to IOH's new owner, BC Iron Ltd. BC Iron said on Wednesday former IOH MD Alwyn Vorster had resigned from the board of BC Iron as he had... 

MCA pushes for greater policy reform

By: Esmarie Swanepoel     Updated 2 hours 43 minutes ago While complementing the Tony Abbott-led government on its policy reforms aimed at reducing the red tape burden on Australian businesses, the Minerals Council of Australia (MCA) on Wednesday called for an even greater reform. On the Spring Repeal Day, the Abbott government introduced legislation... 

Sumatra signs documents for Tembang finance

By: Esmarie Swanepoel     Updated 4 hours ago Gold hopeful Sumatra Copper & Gold has executed the documentation for its $45-million funding facility for its Tembang gold project, in Indonesia. Earlier this month, Sumatra announced that it had secured the senior debt facility with Nomura Singapore and Indonesia Eximbank. 

OceanGold hopeful of Blackwater economics

By: Esmarie Swanepoel     Updated 4 hours ago A preliminary economic report on dual-listed gold miner OceanaGold’s Blackwater gold project, in New Zealand, has indicated an economically robust project. In a report released on Wednesday, the ASX- and TSX-listed miner stated that Blackwater could be mined at a rate of 120 000 t/y, to produce... 

Mincor assets deliver in Sept quarter

By: Esmarie Swanepoel     Updated 5 hours ago Nickel miner Mincor Resources has exceeded its production expectations during the September quarter, as both its operating mines, in Western Australia, exceeded yearly production targets. During the three months under review, Mincor increased production to 2 515 t of nickel-in-ore, up 5%... 

Speculation arise around Mutiny/Doray tie-in

By: Esmarie Swanepoel     Updated 5 hours ago The shares of gold miners Doray Minerals and Mutiny Gold went into a trading halt on Tuesday, pending announcements of a potential corporate combination. Doray’s trading halt would lift on Friday, while Mutiny was expected to resume trading on Thursday. 

Silver Lake sells Lakewood assets

By: Esmarie Swanepoel     Updated 5 hours ago ASX-listed Silver Lake Resources has announced the sale of its Lakewood mill assets, in Western Australia, in a deal worth A$5.5-million. The company would receive a 2% gross revenue royalty on all minerals mined or recovered from two mining leases. 

Norton delivers record results and lower cash costs

By: Esmarie Swanepoel     Updated 5 hours ago Gold miner Norton Gold Fields has reported a slight increase in gold production during the three months to September, compared with the previous quarter, as productivity and cost reduction initiatives delivered results. Production during the three quarters under review reached 46 957 oz, at a C1... 

Treasury Metals files EIS for Goliath gold project, Ontario

By: Henry Lazenby TSX-listed project developer Treasury Metals on Tuesday announced that it had achieved a significant milestone in developing its flagship Goliath Gold project, in north-western Ontario, after filing an environmental-impact statement (EIS) with the Canadian Environmental Assessment Agency (CEAA).... 

Chieftain Metals reports strong project feasibility optimisation

By: Henry Lazenby The proponent of the Tulsequah Chief polymetallic project, in British Columbia, Chieftain Metals, late on Monday published the results of an optimised feasibility study, aimed at improving the financeability of the project in the current difficult market. The 2014 feasibility update, prepared by... 

Chieftain Metals reports strong project feasibility optimisation

StratMin signs offtake deal for Madagascar graphite

By: Creamer Media Reporter Aim-listed graphite producer StratMin Global Resources has started selling natural flake graphite from its Madagascar-based operations to an undisclosed independent graphite processor and merchant. This followed on the signing of an offtake agreement between the parties, which was effective... 

India takes baby steps towards open coal sector

By: Ajoy K Das The Indian government has given the first hints of legislative changes designed to usher in the de-nationalisation of the country’s coal sector. While no timeframe for the dramatic reform of the sector had been given, the government has indicated that de-nationalisation was the path it would... 

Stellar to start Baoulé diamond sales before year-end

By: Creamer Media Reporter West Africa-focused diamond development company Stellar Diamonds expects to start selling diamonds from its Baoulé trial mining project, in Guinea, before the end of this year. The miner had completed the processing of the first kimberlite sample from the project, following the successful... 

Iron-ore flood leaves little wriggle room for minnow Atlas

By: Reuters A flood of low-cost iron ore is driving tiny Australian miner Atlas Iron to its break-even point, underscoring the pain inflicted by a ramp-up in output by mega-producers Rio Tinto and BHP Billiton. Atlas, which raced into production half a decade ago when iron ore prices were booming on the... 

WA enviro approval clears rare earths project for development

By: Esmarie Swanepoel he Western Australian government has given environmental approval for ASX-listed Northern Minerals to develop its Browns Range heavy rare earths project. The environmental clearance marked the completion of the Browns Range project’s primary environmental assessment process. 

Newcrest to wrap up Wafi-Golpu study by year-end

By: Esmarie Swanepoel Gold major Newcrest is hoping to complete an updated prefeasibility study (PFS) on its Wafi-Golpu joint venture, in Papua New Guinea, by the end of 2014, the Australian company reported on Tuesday. The project, which is being developed with South Africa’s Harmony Gold and comprises the Golpu and... 

Balamara consolidates Mariola ownership in A$13m deal

By: Esmarie Swanepoel ASX-listed junior Balamara Resources on Tuesday announced a A$13-million all-scrip deal to consolidate the ownership of the Mariola thermal coal project, in Poland. Under the terms of the transaction, Balamara would issue 200-million of its own shares, or similar, to acquire the remaining 85% of... 

Australian horse breeders halt Anglo American coal expansion plans

By: Esmarie Swanepoel The New South Wales Planning Assessment Commission (PAC) has refused diversified major Anglo American’s application to develop the Drayton South mine, claiming it would negatively affect the Coolmore and Dudley horse breeding studs. The Drayton mine has been in operation since 1983 and produces... 

Australian horse breeders halt Anglo American coal expansion plans
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