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Gold recycling to remain low – World Gold Council

By: Martin Creamer     Updated 1 hour 5 minutes ago The recycling of gold, which fell to a seven-year low in 2014, is expected to remain low this year, and possibly decrease further owing to substantial near-market supply being flushed out, the World Gold Council (WGC) reported on Thursday. “The decline in recycling in 2014 was widespread across... 

Gold recycling to remain low – World Gold Council
Alistair Hewitt

Exxaro records operating loss, outlook remains challenging

By: Martin Creamer     Updated 13 minutes ago Black-controlled diversified mining company Exxaro, which recorded a R3.2-billion net operating loss in 2014, expects challenging conditions to continue in 2015, the company said on Thursday. The net operating profit of the JSE-listed company, headed by CEO Sipho Nkosi, fell 192% to a loss of R3... 

Exxaro records operating loss, outlook remains challenging

Glencore commits to migrating first world safety to third world countries

By: Martin Creamer Diversified major Glencore, which reported 16 fatalities last year, has committed itself to migrating first-world safety practices into challenging geographies where more than 80% of the deaths took place. The London-, Hong Kong- and Johannesburg-listed company’s SafeWork programme – in which 118... 

Glencore commits to migrating first world safety to third world countries
Photo by Duane Daws
Ivan Glasenberg

Despite ‘complete crisis’ in gold industry, Randgold remains buoyant at low prices

By: Henry Lazenby     Updated 4 hours ago With a ten-year plan in hand that would ensure Africa-focused gold producer Randgold Resources would remain profitable at a gold price of $1 000/oz, CEO Mark Bristow on Wednesday morning fingered its peers for having done a horrible job in recent years. Speaking during a breakfast presentation on... 

Despite ‘complete crisis’ in gold industry, Randgold remains buoyant at low prices
Photo by Duane Daws
Randgold Resources CEO Mark Bristow.

TFR confident of settling take-or-pay deals with 36 coal exporters

By: Terence Creamer South Africa’s State-owned railways utility Transnet Freight Rail (TFR) says it remains confident of concluding take-or-pay contracts with 36 coal-line customers before the end of its financial year, which concludes on March 31. Spokesperson Sandile Simelane tells Engineering News Online that TFR... 

 TFR confident of settling take-or-pay deals with 36 coal exporters

Africa ready to break the paradox of being primary, yet poorest, mining location

By: Henry Lazenby Despite the commodity price collapse, Africa was ready to participate as a host continent to the global mineral extraction industry, South African Mineral Resources Minister Advocate Ngoako Ramatlhodi told the Canada-Southern Africa Chamber of Business's sixteenth Annual African Mining Breakfast... 

Africa ready to break the paradox of being primary, yet poorest, mining location
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Canada strikes more than 10 African foreign investment promotion, protection accords

By: Henry Lazenby Canada has concluded foreign investment promotion and protection agreements with more than ten countries in Africa, improving the confidence and protection Canadian companies need to invest abroad. Canada’s International Trade Minister Ed Fast, accompanied by ministerial colleagues from African... 

Canada strikes more than 10 African foreign investment promotion, protection accords
Photo by Foreign Affairs, Trade and Development Canada
The African mining delegation closes the TSX on Tuesday.

Zinc market to reach ‘pinch point’ in 2016/17 as mine closures outweigh new output

By: Henry Lazenby Profit margins for zinc miners will probably rise strongly over the next five years, boosted by expected price increases on the back of a widening supply deficit. According to advisory firm Wood Mackenzie (Woodmac) analyst Jonathan Leng, the next two years, 2016 and 2017, represented the “pinch... 

South Boulder publishes PFS for Eritrea potash project

By: Esmarie Swanepoel The prefeasibility study (PFS) into the Colluli potash project, in Eritrea, has estimated that the project would require an initial investment of some $442-million. The PFS examined a two-module development with an expected production of 425 000 t/y sulphate potash for the first five years of... 

Sale of Richland’s Tanzanian assets concluded

By: Creamer Media Reporter Aim-listed Richland Resources this week closed the sale of its tanzanite mining, beneficiation and tsavorite licence interests in Tanzania to Sky Associates for $5.1-million. The gemstone miner announced in November 2014 that it would exit Tanzania to focus on its sapphire operation in Australia,... 

BME launches narrow-reef emulsion site at Amplats’ Tumela mine

By: Ilan Solomons Explosives company BME officially opened its first narrow-reef emulsion site and training centre at platinum miner Anglo American Platinum’s (Amplats’) Tumela underground mine in Thabazimbi, Limpopo on Wednesday. Tumela mine production manager Pierre Prinsloo said the bulk emulsions system was... 

Guinea bets on mining for post-Ebola economic recovery

By: Reuters Guinea's economy is likely to take a $2-billion hit from a regional Ebola outbreak that has killed nearly 10 000 people, and the country is relying on mining to drive growth once the virus is contained, the finance minister said. Guinea is the world's top exporter of the aluminium ore bauxite and... 

Guinea bets on mining for post-Ebola economic recovery

Western Australia no longer world's best mining destination

By: Esmarie Swanepoel Western Australia is no longer the world’s top jurisdiction for mining investment, the latest survey by Canada’s Fraser Institute has shown. Moving up three spots in the survey’s investment attractiveness index, Finland is now considered the best address for mining and exploration investment.... 

Mariola thermal coal study proves up for Balamara

By: Esmarie Swanepoel ASX-listed Balamara Resources on Wednesday reported that the prefeasibility study (PFS) into its Mariola thermal coal project, in Poland, had demonstrated robust economics. Based on a maiden reserve of 39.5-million tonnes, the project was expected to produce some 2.7-million tonnes a year over a... 

Talga to build graphene pilot plant in Germany

By: Esmarie Swanepoel Graphite hopeful Talga Resources would spend A$1-million to construct a graphene demonstration plant in central Germany. The plant would produce between 100 t/y and 200 t/y of graphene, with feedstock sourced from Talga’s Swedish projects. 

Chesser sells another Turkish asset

By: Esmarie Swanepoel ASX-listed junior Chesser Resources on Wednesday confirmed that it had executed a legally binding agreement with joint venture partner Eurasian Minerals to sell its 51% stake in the Sisorta gold project, in Turkey. Under the agreement, Chesser would give full ownership of Sisorta to Eurasian for... 

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In over-built potash sector, tiny segment commands premium

By: Reuters     Updated 2 hours 47 minutes ago Excess production capacity over-hangs the price of potash, but its premium form may offer upside that investors have yet to cash in on. Sulfate of potash (SOP) is a chloride-free fertiliser suited to sensitive crops such as fruits and nuts. Standard SOP traded over five years to mid-2013 in... 

Ecuador, seeking investment, buffs up mining sector image

By: Reuters     Updated 2 hours 50 minutes ago Rebranding itself as a mining-friendly jurisdiction, Ecuador has high hopes that incentives and tax benefits will polish its tarnished image and attract $5-billion worth of investment over the next five years, a senior minister told Reuters. The small Andean nation believes that incentives... 

Fort Saskatchewan, Alberta, blast caused by ruptured gas line

By: Reuters     Updated 2 hours 52 minutes ago A blast in Fort Saskatchewan, Alberta, on Wednesday was caused by a contract worker accidentally rupturing a gas line, a city spokesperson said, and was not at the Sherritt International fertiliser plant as earlier reported by local media. Wendy Kinsella, communications adviser for the City of... 

PDAC’s 2015 convention draws more than 23 500 from global mining community

By: Henry Lazenby     Updated 3 hours ago The Prospectors & Developers Association of Canada (PDAC) welcomed 23 578 attendees from more than 100 countries to its 2015 convention. Despite the number being short of the 25 122 attendees it drew last year, and 30 147 in 2013, the crowd included investors, analysts, mining executives,... 

Tungsten industry in transition as China's competitiveness wanes

By: Henry Lazenby     Updated 3 hours ago Despite China having not yet made significant inroads into securing tungsten supply from outside its borders, it might only be a matter of time before it did, providing the incentive investors are looking for to finance several shovel-ready projects. Tungsten, or wolfram as it is also called, is... 

Slide in Chinese coal imports to continue in 2015 – Wood Mackenzie

By: Simon Rees     Updated 4 hours ago Oversupply continues to weigh on the performance of thermal and metallurgical coal exports into China, Wood Mackenzie senior analyst Jonathan Sultoon told an audience at the Prospectors & Developers Association of Canada’s 2015 conference. The causes of oversupply stem from an earlier market... 

Slide in Chinese coal imports to continue in 2015 – Wood Mackenzie

Big Four squeeze gathers pace as more iron-ore flows into saturated market – CRU

By: Simon Rees Iron-ore prices will remain in the doldrums for 2015 as senior producers continue to bring new, low-cost output into the market, CRU group director of multi-commodity, knowledge and information Paul Robinson told an audience at the Prospectors & Developers Association of Canada. Stemming from... 

Big Four squeeze gathers pace as more iron-ore flows into saturated market – CRU

After mini boom, Australia coal prices come down to earth

By: Reuters A rally in Australian coal prices has fizzled almost as quickly as it started, brought down to earth by oversupply and weakening Chinese demand, setting the stage for lower annual price agreements with Japanese utilities. 

Senate passes incentive to encourage greenfield exploration

By: Esmarie Swanepoel The Australian resources sector has welcomed the passing of the exploration development incentive (EDI) through the Senate. The federal government last year announced a budget of A$100-million over the next three years to fund the EDI, to support junior exploration companies conducting... 

Senate passes incentive to encourage greenfield exploration

NSW cancels two CSG exploration licences as part of gas reform

By: Esmarie Swanepoel New South Wales Resources and Energy Minister Anthony Roberts on Wednesday announced the cancellation of two petroleum exploration licences for coal seam gas (CSG) held by independent explorer Pangaea, following a buyback. The first of the licences covered about one-million hectares north of... 

Bengalla coal mine extension approved

By: Esmarie Swanepoel The New South Wales government has granted a new development consent that would allow the Bengalla coal mine to continue mining until 2038. ASX-listed Wesfarmers, which is a 40% owner in the operation with Rio Tinto subsidiary Coal & Allied, the majority partner, said on Wednesday that the new... 

LNG eyes dual listing in US

By: Esmarie Swanepoel The board of ASX-listed Liquefied Natural Gas (LNG) has taken the decision to list on an "appropriate" US exchange once it nears construction of its Magnolia LNG project, in the US. The company said on Wednesday that the decision to dual list resulted from a review of options submitted by five... 

ColdBlock to launch 'digestion' technology despite facing hurdles

By: Reuters Canadian start-up ColdBlock Technologies will launch its new 'digestion' technology on Wednesday that cuts the time to test mineral samples to minutes from hours, innovation experts say is long overdue in a mining industry often resistant to change. ColdBlock, which did development work with the... 

Imperial Mines starts trucking concentrate from Red Chris

By: Henry Lazenby British Columbia-focused base metals producer Imperial Metals has started trucking copper concentrate from the $500-million Red Chris mine, south of Dease Lake in the traditional territory of the Tahltan First Nation. The TSX-listed miner, which also operated the ill-fated Mount Polley mine, said... 

Ucore Rare Metals secures rights to novel REE separation technology

By: Henry Lazenby Alaska-focused rare earths project developer Ucore Rare Metals on Tuesday showed off the first high-purity dysprosium concentrate ever produced in the US, with US-sourced feedstock. The company also announced that it had secured the rights to a new minerals separation technology that had... 

Ucore Rare Metals secures rights to novel REE separation technology

Brazil’s ambassador to Canada calls for greater trade between the two natural resource giants

By: Simon Rees Brazil seeks to boost the level of bilateral trade with Canada, particularly in the sphere of mining, the country’s ambassador to Canada Pedro Fernando Brêtas Bastos told audience members at the Brazil-Canada Chamber of Commerce mining breakfast on Monday. The level of bilateral trade between... 

African Minerals' lender takes control of iron ore project holding companies

By: Reuters African Minerals said its lender has taken control of two holding companies that own a majority stake in the companies that operate its sole project, the Tonkolili iron-ore mine in Sierra Leone. The miner said on Tuesday it is seeking legal advice on the move by Shandong Steel Hong Kong Zengli. 

Zambia finmin says kwacha will recover this year

By: Reuters Zambia's kwacha currency will recover this year due to an increase in the price of the copper and steps by the central bank to preserve foreign exchange reserves, the finance minister said on Tuesday. "The hard currency earnings will improve as the fiscal year progresses, especially from the... 

BNC closes $20m bond, progresses smelter restart plans

Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has successfully closed a $20-million bond to buy new equipment for its smelter, in Zimbabwe. BNC was planning to reopen the smelter by December.  

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