R/€ = 15.77 Change: 0.13
R/$ = 13.47 Change: 0.03
Au 1243.94 $/oz Change: 6.10
Pt 891.50 $/oz Change: 14.00

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Space mining is getting close to reality

By: Rebecca Campbell     15th December 2017 Space mining – the mining of bodies and other worlds in outer space for minerals and other natural resources – remains within the realm of science fiction. For now. But, during the younger years of most of the world’s current senior mining executives, personal communication devices (cellphones)... 

Space mining is getting close to reality

Pan African completes BEE restructure

By: Creamer Media Reporter      15th December 2017 Dual-listed Pan African Resources has completed the restructuring of its black economic empowerment (BEE) ownership structures. The company has replaced the current BEE equity shareholdings in the company, held through interests in PAR Gold, with BEE shareholdings in Emerald Panther Investments. 

Proposed carbon tax ‘least-cost manner’ to ensuring greenhouse-gas reduction – Treasury

By: Schalk Burger     15th December 2017 The National Treasury released the Second Draft Carbon Tax Bill for public comment on Friday and averred that it “seeks to give effect to the polluter pays principle . . . and will assist, in a least-cost manner, in reducing greenhouse-gas (GHG) emissions and ensuring that South Africa meets its... 

Amplats expects double-digit rise in FY17 earnings

By: Natasha Odendaal     15th December 2017 Cost reductions and an improved operational performance are expected to bolster earnings for the year ended December 31, by at least 20%, Anglo American Platinum (Amplats) said on Friday. In an update to shareholders, the company said headline earnings and headline earnings a share for 2017 would... 

AMCU laments ‘lack of consultation’ over Sibanye-Stillwater’s acquisition of Lonmin

By: Dylan Slater     15th December 2017 Trade union, the Association of Mineworkers and Construction Union (AMCU) has taken issue with the proposed all-share buyout of platinum miner Lonmin by Sibanye-Stillwater 

Retention of jobs critical following Sibanye-Lonmin deal – Zwane

By: Reuters     15th December 2017 Retaining jobs has to be a priority following Sibanye-Stillwater's takeover of platinum producer Lonmin , the South African mining minister said on Thursday. "The stability and sustainability of the industry is key for the economy, and the creation and retention of jobs in this sector is a... 

Hummingbird starts Yanfolila ore commissioning

By: Natasha Odendaal     15th December 2017 Aim-listed Hummingbird Resources expects first gold production from its Yanfolila mine, in Mali, before the end of December as ore commissioning gets under way. “Ore commissioning represents the final step ahead of first gold production at Yanfolila. Everybody on site is totally focused on a... 

Ortac Resources initiates more work programmes at DRC project

By: Megan van Wyngaardt     15th December 2017 Aim-listed Ortac Resources’ subsidiary Casa Mining will start additional work programmes at its Akyanga licence area, in the Democratic Republic of Congo, to incorporate parallel extensions to project, as part of the existing drill programme. This follows the completion of a review of previous... 

Triton shares gain on Mozambique graphite DFS

By: Mariaan Webb     15th December 2017 Australian company Triton Minerals is gearing up to start early construction work at its Ancuabe graphite project in Mozambique in May next year, after a definitive feasibility study (DFS) boosted its confidence in building mine to supply the premium end of the graphite market. The DFS determined... 

Triton shares gain on Mozambique graphite DFS

IHS Materials Price Index buoyant on strong commodity rally

By: Henry Lazenby     15th December 2017 The materials price index (MPI) from Global Insight by IHS Markit has gained a strong 1.3% last week, hitting its highest level since late 2014 the company reported on Thursday. Three categories led gains, including ferrous metals, rubber and freight, all of which posted large jumps, according to... 

Australia cobalt rush accelerates on electric vehicle demand, DRC troubles

By: Reuters     15th December 2017 Australia, home to the world's second-biggest cobalt reserves, is seeing a rush of interest in projects still years from production as makers of batteries used in electric vehicles (EVs) seek supplies of the metal from a more costly but less risky source than top miner, the Democratic Republic of... 

Mining Weekly iPhone and Android Apps available for free download 

     15th December 2017 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Corsa Coal rises 23% on strong 2018 production outlook

By: Henry Lazenby     16th December 2017 The TSX-V-listed stock of Corsa Coal rallied as much as 23% on Friday following a company announcement calling for a much stronger metallurgical coal production outlook in 2018 and an overall increase in premium low volatile metallurgical coal sales. “In 2018, Corsa is guiding towards... 

Corsa Coal rises 23% on strong 2018 production outlook

Vale workers in Mozambique down tools at Moatize mine over bonus pay

By: Reuters     15th December 2017 Workers at Brazilian mining giant Vale's Mozambique Moatize coal mine downed tools on Friday in a dispute over bonus payments, a local television station reported. The workers embarked on a strike early on Friday, paralysing work at the plant, Mozambican Miramar television reported. 

India silver imports seen extending rebound from four-year low

By: Bloomberg     15th December 2017 Silver imports by India, one of the world’s top buyers, may keep rising next year after bouncing back this year from a four-year low in 2016, boosted by weak prices. Overseas purchases are estimated at as high as 5 500 metric tons in 2017 and may rise to about 6 000 t next year, surging from 3... 

Bacanora signs deal to develop Sonora project

By: Megan van Wyngaardt     15th December 2017 Dual-listed lithium miner Bacanora Minerals and Chinese institutional fund management group NextView Capital have signed an agreement which would see the latter acquire a 19.89% equity interest in Bacanora through the placement of 32.97-million common shares at a price of 94.53p apiece. The... 

Odisha rules out extension of deadline for payment of illegal mining penalty

By: Ajoy K Das     15th December 2017 With the Supreme Court set deadline of December 31, to recover dues and penalties for illegal mining in eastern province of Odisha fast approaching, the government has ruled out any extension of the deadline or recalculation of the penalties recoverable from liable miners. Officials in Odisha... 

Ark Mines to establish gold processing plant early next year

By: Megan van Wyngaardt     15th December 2017 ASX-listed Ark Mines is on track to complete its Union extended (UE) mining management plan (MMP) for the establishment and operation of a carbon-in-leach (CIL) gold processing plant in the Northern Territory by early 2018. Desktop hydrogeological studies and terrestrial ecology desktop studies... 

India faces surge in coal imports over next three months

By: Ajoy K Das     15th December 2017 Indian coal imports is likely to gain further momentum during the next three months, reversing a falling trend seen early in the financial year as more user industries are planning to up inward shipments to feed their fuel-starved captive power plants. Several companies in the chemicals, medium... 

Gascoyne clinches hedging deal with Australian banks

By: Megan van Wyngaardt     15th December 2017 Gascoyne Resources has entered into flat forward gold sales contracts with Commonwealth Bank of Australia (CBA) and the National Australia Bank (NAB) for 164 000 oz of gold production from its 100%-owned Dalgaranga gold project, at a delivery price of $1 712/oz. The banks are also providing a... 

Strategic Minerals to purchase Australian copper mine outright

By: Mariaan Webb     15th December 2017 Aim-listed Strategic Minerals has renegotiated the terms of its acquisition of the Leigh Creek copper mine, in South Australia, and has decided to purchase the mine for A$3-million through an equal mixture of cash and equity. When Strategic Minerals announced the planned acquisition in October,... 

RNC raises funding to support WA nickel ramp up

By: Creamer Media Reporter      15th December 2017 TSX-listed RNC Minerals has restructured a loan and raised additional funds to support the nickel ramp up at its Western Australia-based Beta Hunt mine, where it aims to double production to four-million pounds next year. The company announced this week that it had restructured its financing... 

Macmahon executes Mt Morgans contract

By: Creamer Media Reporter      15th December 2017 Contract miner Macmahon on Friday confirmed that it had executed the final mining contract for the Mt Morgans gold mine project, near Laverton, Western Australia. The company was awarded the contract for an openpit mine from ASX-listed Dacian Gold, which is bringing Australia’s biggest gold mine... 

Rio Tinto not expected to relinquish interest in Freeport Indonesia until 2022 – govt official

By: Reuters     15th December 2017 Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday. "In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's... 

ArcelorMittal says Kazakh coal miners end strike

By: Reuters     15th December 2017 Coal miners at steelmaker ArcelorMittal's Kazakh unit have ended their sit-in and emerged from the mines, the company said on Friday, after offers of a pay rise and the threat of legal action. ArcelorMittal Temirtau, the Central Asian nation's biggest steel mill, said it would continue... 

Takeover target Bauxite Resources offers to return capital to shareholders

By: Mariaan Webb     15th December 2017 Explorer Bauxite Resources has set aside $10.7-million of its cash to reward shareholders with a capital return of 5c a share in a move to thwart a bid from Mercantile Investment Company. Mercantile has announced an offmarket takeover bid for Bauxite Resource of 9 c a share for every two shares... 

BC govt refuses KGHM’s Ajax environmental permit

By: Henry Lazenby     15th December 2017 The British Columbia provincial government on Thursday refused to issue Polish base metals miner KGHM Polska Miedź’s Ajax copper/gold mine a provincial environmental certificate, saying the adverse effects of the project outweigh the potential benefits. The news is a blow to the nearby City of... 

BC govt refuses KGHM’s Ajax environmental permit

Resources Watch  

     14th December 2017 This week: Crucial for commodity countries to build economic resilience And, owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth 

Resources Watch

State of local mining regulations shun investment, says CoM report

By: Dylan Slater     14th December 2017 The findings of a recently conducted Chamber of Mines (CoM) survey indicate that if South Africa’s mining industry shifts its focus to create an attractive policy, regulatory and governance environment – through ethical leadership, good governance and the adoption of competitive, stable and... 

UK billionaire Gupta to form listed company with Atlantis Resources

By: Reuters     14th December 2017 Sanjeev Gupta's GFG Alliance has struck a deal with tidal power firm Atlantis Resources that marks the British billionaire's first step into the stock market. GFG Alliance, the $10-billion turnover consortium that runs metals group Liberty House and energy and commodities group SIMEC, said in a... 

Premier sees option for bulk mining scenario at Zulu lithium project

By: Megan van Wyngaardt     14th December 2017 Premier African Minerals has identified the ZDD-45 prospect at its Zulu lithium project, in Zimbabwe, as the project’s best hole to date, as it continues to deliver “excellent results” that are well supported by further assay results that are now becoming available. The updated drilling results... 

Zambia sees 2017 copper output rising up to 850 000 t

By: Reuters     14th December 2017 Zambia's 2017 copper output is expected to increase to between 800 000 t and 850 000 t from 774 290 t in last year, Mines Minister Christopher Yaluma on Thursday. Zambia's copper production is next year likely to increase further to reach 1-million tonnes, Yaluma said, citing improved power... 

Orion identifies exploration targets through survey

By: Megan van Wyngaardt     14th December 2017 A 962 km2 high-power SkyTEM airborne electromagnetic (EM) survey that dual-listed Orion Minerals started at the Areachap Belt, in the Northern Cape, in late November, has identified four primary and 11 secondary priority targets for exploration. The company now intends to expand its activities to... 

Alphamin raises R33m in South African private placing

By: Natasha Odendaal     14th December 2017 TSX-V-listed tin exploration and development company Alphamin Resources has raised R33.8-million ($2.5-million) through a South African private placement. Alphamin will issue 9.95-million units to the successful South African participants at a price of R3.40 a unit. 

Economic resilience encouraged 

     14th December 2017 Deputy President Cyril Ramaphosa has emphasised the urgent need for South Africa to break the ongoing deadlock on the regulation and transformation of the mining sector, while United Nations Conference on Trade and Development has warned that, without policy change, commodity-dependent developing... 

Economic resilience encouraged

Dalradian drilling shows potential for mechanised mining at Curraghinalt

By: Megan van Wyngaardt     14th December 2017 Drilling results from an ongoing programme at dual-listed Dalradian Resources’ Curraghinalt gold deposit in Northern Ireland, have highlighted numerous areas within the deposit that could be converted to lower-cost mechanised mining. “The rock strength is much better than originally modelled,”... 

Polymetal, Alrosa receive top honours in Russian environmental report

By: Megan van Wyngaardt     14th December 2017 LSE-listed Polymetal International was awarded the top rating in environmental responsibility among Russian metals and mining companies by the World Wildlife Fund (WWF). The WWF, in collaboration with the United Nations Development Programme, Global Environmental Facility, and the Russian... 

Sibanye-Stillwater to acquire embattled Lonmin, completes PGMs strategy

By: Mia Breytenbach     14th December 2017 Precious metals mining company Sibanye-Stillwater has made an all-share offer to acquire platinum group metals (PGMs) producer Lonmin. The offer values Lonmin at about £285-million, or R5.15-billion. 

Sibanye-Stillwater to acquire embattled Lonmin, completes PGMs strategy
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman and Lonmin CEO Ben Magara

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