R/€ = 16.10 Change: -0.08
R/$ = 14.43 Change: -0.12
Au 1319.10 $/oz Change: -4.10
Pt 1069.50 $/oz Change: -9.00

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DRDGold dividend given sixfold uplift

By: Martin Creamer     Updated 6 hours ago Dump retreatment company DRDGold on Tuesday announced a sixfold dividend increase for the year to June 30. The final dividend of 12c a share took the total declared dividend for this financial year to 62c a share, which is more than six times the 10c a share of last year. 

DRDGold dividend given sixfold uplift
Photo by Duane Daws
DRDGold CEO Niël Pretorius

Brown tells Eskom to release coal contracts report

By: Reuters     Updated 3 hours ago Public Enterprises Minister Lynne Brown said on Tuesday she had asked State-owned power utility Eskom to immediately provide a report required by the Treasury, which is investigating the utility's coal contracts. Brown said she was concerned a public row between the Treasury and Eskom could lead... 

Brown tells Eskom to release coal contracts report
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

BHP details dam management actions at it publishes findings into Samarco disaster

By: Megan van Wyngaardt     Updated 4 hours ago Diversified mining giant BHP Billiton has announced a number of actions to enhance the risk management of its dams, including creating a centralised dam management function and assessing technology options to enhance dam management across its portfolio. BHP Billiton will also apply, with... 

BHP details dam management actions at it publishes findings into Samarco disaster
The November 2015 Samarco dam burst sent tailings down the valley, carrying away villages and towns and swamping river systems.

CIL seeks coking coal in S Africa as it exits Mozambique project

By: Ajoy K Das     Updated 5 hours ago Coal India Limited’s (CIL’s) proposed collaboration with South African State-owned African Exploration Mining and Finance Corporation (AEMFC) is expected to focus on coking coal in the African nation, with India facing limited opportunity to ramp up domestic production of the dry fuel. The CIL... 

CIL seeks coking coal in S Africa as it exits Mozambique project

Mothballed Ghana gold mine reveals risk of reliance on minerals

By: Reuters     Updated 10 minutes ago Two years after AngloGold Ashanti suspended production at its giant but loss-making gold mine in Obuasi, central Ghana, the boom of underground explosions has resumed. Lacking any alternative in an area devastated by the mine's closure and the loss of thousands of jobs, hundreds of people broke... 

Quantifying the world’s minerals is essential, says expert

By: Kim Cloete     Updated 7 minutes ago A leading academic has called for a joint committee to track products that use minerals and metals to better understand how much stock is circulating globally. “Knowing how much stock is in use enables one to estimate demand over the next few decades, taking into account global growth and the... 

Sylvania reaches another production record in FY2016

By: Anine Kilian     Updated 3 hours ago Low-cost platinum-group metals (PGMs) producer Sylvania Platinum has achieved record production of 60 643 oz in the year ended June 30 – the third consecutive year of achieving record production. Output was also 5% higher than the 57 587 oz produced the year before. 

Perseus swings to FY2016 loss, banks on brighter outlook

By: Henry Lazenby     30th August 2016 West African gold producer Perseus Mining has swung to a full-year net loss for the period ended June 30, as lower output grades, fewer foreign exchange gains and exploration write-off impacted the balance sheet. The Perth, Western Australia-based company reported a net loss after tax of... 

Firestone Diamonds again extends deadline for Botswana asset sale

By: Natasha Odendaal     Updated 4 hours ago Canadian diversified junior miner Tango Mining has until the revised drop dead date of September 9 to settle all the conditions under the conditional sale agreement (CSA) for the $8-million acquisition of Aim-listed Firestone Diamonds’ Botswana assets. Firestone on Tuesday agreed to extend the... 

Synthetic diamonds threaten Botswana’s mining-based economy, says former minister

By: African News Agency      Updated 2 hours 35 minutes ago The expansion of the global synthetic diamond market poses a threat to the economy of Botswana which depends on the mining and sale of the natural mineral, a former government official has warned. Addressing a gala dinner of the Botswana Institute of Chartered Accountants in Gaborone on Monday,... 

Mozambique seeks Kimberley Process certification to export newly-found diamond wealth

By: African News Agency      Updated 26 minutes ago The Mozambican government is seeking clearance to export its newly-found diamonds from the Kimberley Process Certification Scheme (KPCS) amid reports that up to 34 international mining companies have joined the country’s diamond exploration rush. Top Mozambican mines ministry official Ordelio De... 

Galileo sells Nevada asset to focus on South African copper project

By: Anine Kilian     Updated 3 hours ago Dual-listed Galileo Resources has sold its Gabbs gold-copper property in Nevada, in the US, to Waterton Precious Metals Fund II for $2.5-million in cash. The sale enables the company to reduce exposure to gold exploration and focus on exploration and funding of its Concordia copper project in... 

Glencore suspends coal output at Australian mine after worker dies

By: Reuters     Updated 6 hours ago Glencore, the world's biggest thermal coal exporter, said on Tuesday a 55-year-old contract worker had died at its Newlands coal mine in Australia and it had suspended production at the mine. "We are co-operating with the relevant Queensland authorities and have commenced an investigation into... 

Orca Gold reunites Red Back senior management in executive shakeup

By: Henry Lazenby     30th August 2016 Canadian junior explorer Orca Gold has reunited the senior management of erstwhile Red Back Mining in an executive shakeup announced Monday, which the company believes will set it on a path to regional dominance in North and West Africa. The Orca board has appointed chairperson Richard Clark its... 

Vast reports positive production at its Romania mine

By: Anine Kilian     Updated 2 hours 11 minutes ago Aim-listed Vast Resources has seen significant production improvements at its Manaila polymetallic mine, in Romania, owing to tests undertaken by mining industry consultants SGS, which were managed by independent processing specialists Minxcon. Commissioning has begun on a second float line to... 

Mongolia asks Rio Tinto to speed up work on giant copper mine

By: Reuters     Updated 1 hour 54 minutes ago Mongolia's Prime Minister has asked Anglo-Australian miner Rio Tinto to step up the pace of construction at the giant Oyu Tolgoi copper/gold mine, part of efforts to revive the country's debt-ridden economy. Jargaltulga Erdenebat assured Rio Tinto's copper chief Arnaud Soirat that Mongolia would... 

Mongolia asks Rio Tinto to speed up work on giant copper mine

NTPC plans to meet quarter of its coal demand from captive mines

By: Ajoy K Das     Updated 3 hours ago After calling a halt to imported coal, India’s largest power company, NTPC, is aiming to source at least 25% of its thermal coal requirement from its own mines, over the next five years. The power utility will be commissioning 4 000 MW of additional thermal power generating capacity in the... 

India may auction diamond mine abandoned by Rio Tinto

By: Reuters     Updated 1 hour 56 minutes ago India will auction a diamond project that global miner Rio Tinto is abandoning, or allocate it to a state firm, the mines secretary said on Tuesday, adding that the government would move fast to tap the resource. The Bunder deposit, about 500 km southeast of New Delhi and discovered by Rio Tinto... 

Study shows good case for Clean Teq scandium project

By: Megan van Wyngaardt     Updated 1 hour 56 minutes ago A recently completed feasibility study at Clean TeQ Holdings’ Syerston scandium project, in New South Wales, has shown that the mine will have an average production of 49.2 t/y scandium oxide (Sc2O3) after an 18-month ramp-up, over an initial 20-year mine life. Based on a long-term Sc2O3 price of... 

Sumatra lowers Tembang production guidance

By: Megan van Wyngaardt     Updated 2 hours 35 minutes ago The production guidance for the full year at Sumatra Copper & Gold’s Tembang gold/silver mine, in Indonesia, has been revised from 35 000 oz gold equivalent to between 30 000 oz and 33 000 oz. Over the next three months, a revised ore extraction method would result in lower ore production from... 

Resolute teams up with Perth Mint to pay dividends in gold

By: Megan van Wyngaardt     Updated 2 hours 37 minutes ago Gold miner Resolute Mining on Tuesday declared a dividend of 1.7c a share, following the adoption of an innovative gold sales-linked dividend policy. Resolute partnered with the Perth Mint to provide shareholders with the opportunity to receive dividend payments in gold. Shareholders who hold 5... 

Pacific American hires Hatch for Elko conceptual capex study

By: Creamer Media Reporter      Updated 2 hours 49 minutes ago Australia-listed Pacific American Coal is advancing plans for its Elko coking coal project, in Canada, announcing on Tuesday that it had engaged consulting engineering group Hatch to complete a concept level mine infrastructure and coal processing capital expenditure (capex) study. 

Lithium Australia receives grant to further Sileach research

By: Megan van Wyngaardt     Updated 2 hours 54 minutes ago Perth-based Lithium Australia has been granted a second Innovation Connections grant under the entrepreneurs programme run by the country’s Department of Industry and Science. This builds on the grant it received in March, as well as augmenting the Minerals Research Institute of Western Australia... 

Venturex raises capital to progress exploration

By: Megan van Wyngaardt     Updated 2 hours 55 minutes ago A new drilling programme is set to start at ASX-listed Venturex Resources’ Whim Creek zinc project, on the back of the company raising $3.05-million through its nonrenounceable entitlement issue. The programme will seek to grow the existing zinc resource and test newly identified exploration... 

Carbine increases Jorc resources at Mount Morgan by 215%

By: Samantha Herbst     Updated 2 hours 59 minutes ago A 215% increase in the Joint Ore Reserves Committee resources at the Queensland-based Mount Morgan gold-copper tailings project to 850 000 oz highlights the potential to increase the project’s mine life and production, says owner Carbine Resources. 

Northern Minerals expects Tanami tenement package to fetch up to A$2.75m

By: Creamer Media Reporter      Updated 3 hours ago Rare earths focused Northern Minerals, which is advancing the Browns Range project, in Western Australia, expects to raise up to A$2.75-million by selling a package of exploration licences in the Tanami region of the Northern Territory. Gold miner Northern Star will buy the exploration licences... 

Copper price drags down Sandfire profit in otherwise strong financial year

By: Mariaan Webb     Updated 4 hours ago Despite posting lower profit owing to weaker copper prices, the owner of the DeGrussa copper and gold mine, Sandfire Resources, is satisfied with its performance and upbeat about its prospects as the company turns net debt free. The ASX-listed copper and gold miner had delivered its best... 

Protesters shut down TransCanada pipeline hearing in Montreal

By: Reuters     29th August 2016 Canada's National Energy Board cancelled the first day of hearings on TransCanada Corp's proposed Energy East pipeline in Montreal on Monday after protesters disrupted the panel session, an agency spokesperson said. Montreal police said three protesters were arrested on obstruction charges, with... 

Protesters shut down TransCanada pipeline hearing in Montreal

Investigation finds Samarco dam failed due to liquefaction

By: Reuters     29th August 2016 An investigation launched by Brazilian miner Samarco –  and  owners Vale and BHP Billiton – into the cause of a dam spill last November found the dam collapsed due to liquefaction, a presentation said on Monday. Liquefaction is a process whereby a solid material such as sand loses strength and... 

Rye Patch breaks ground in Florida Canyon restart campaign

By: Henry Lazenby     29th August 2016 Nevada-focused project developer Rye Patch Gold has started construction of a new heap leach facility at its newly acquired Florida Canyon mine, which it bought from Japan-based Admiral Capital at the end of July. "The company has embarked on a transformational journey to become Nevada's next new... 

Barrick pours first gold at South Arturo

By: Henry Lazenby     29th August 2016 Gold major Barrick Gold has poured first gold at its South Arturo mine, located in Nevada’s Carlin Trend, its 40% joint venture (JV) partner Premier Gold Mines reported Monday. Barrick, as the operator through its subsidiary Barrick Gold Exploration, processes the ore from South Arturo at its... 

Africa deserves support, says former Exxaro CEO

By: Kim Cloete     29th August 2016 Governments have made great strides in Africa, with increased openness and transparency and more credible political leaders, yet the continent is not reaping the benefits in terms of mineral beneficiation, says former Exxaro CEO Sipho Nkosi. “We produce primary products, but they come back onto... 

Africa deserves support, says former Exxaro CEO
Former Exxaro CEO Sipho Nkosi

Boost Africa’s geoscientific knowledge, urges Zwane

By: Kim Cloete     29th August 2016 Mineral Resources Minister Mosebenzi Zwane has called on delegates to the thirty-fifth International Geological Congress (IGC) to rechannel their efforts into development on the African continent, which is lagging in terms of geoscientific knowledge. “On average, expenditure in the generation of... 

Boost Africa’s geoscientific knowledge, urges Zwane
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Platinum industry not mining anywhere near forecast demand – Northam 

By: Martin Creamer     29th August 2016 The platinum mining industry is not mining anywhere near the forecast demand of nine-million ounces by 2025, the nominal global demand quantum based on a modest compound annual growth rate of only 1.5%. Nine-million ounces is a large number relative to primary mine production out of Southern... 

Northam Platinum CEO Paul Dunne comments on platinum’s supply/demand outlook to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer

Ivanhoe seeks strategic advice following unsolicited interest in its projects

By: Creamer Media Reporter      29th August 2016 TSX-listed Ivanhoe Mines is planning to appoint an investment bank to advise the company’s board on strategic options after having received unsolicited interest in its projects in recent months. “The mining industry has taken notice of our company. Our remarkable Kakula discovery on the Central... 

Shares in Guptas' Oakbay Resources recover after 10% dive

By: News24Wire      29th August 2016 Shares in Oakbay Resources & Energy fell more than 10% on Monday after the Gupta family, which controls the firm's holding company, said at the weekend they will sell their South African businesses. Oakbay Resources was down 10.02% at R18.85 before recovering to R20.95 by 14:16.The scandal-hit... 

Shares in Guptas' Oakbay Resources recover after 10% dive

Treasury, Eskom in war of words over cooperation in coal-contract review 

By: Terence Creamer     29th August 2016 The National Treasury has strongly disputed Eskom’s contention that it has been cooperating with its review of coal contracts involving the Gupta-family-linked Tegeta Exploration and Resources, indicating rather that its “efforts have met resistance” from the utility. It also disputed Eskom’s... 

Treasury, Eskom in war of words over cooperation in coal-contract review

India’s NMDC to boost iron-ore production

By: Ajoy K Das     29th August 2016 Indian iron-ore miner NMDC will increase its production by 14% to 35-million tons during current financial year, in line with a target of producing 50-million tons a year by 2018, a company official has said. The higher production target for merchant sales is significant, as the miner also has to... 

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