http://www.miningweekly.com
R/€ = 14.46 Change: -0.03
R/$ = 13.56 Change: -0.06
Au 1205.62 $/oz Change: -8.42
Pt 958.00 $/oz Change: -14.50
 
Close

Email me free daily news

Email address

Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal improvement

By: Natasha Odendaal     Updated 6 hours ago South Africa’s mining stakeholders need to “go back to the drawing board” and refocus efforts on bringing down the number of fatalities in the sector, trade union Solidarity's deputy general secretary for occupational health and safety and sustainable development Advocate Paul Mardon said, as a... 

Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal improvement
Photo by Duane Daws
Mineral Resources Minister Mosebezi Zwane

Sibanye’s Stillwater platinum deal edges forward

By: Martin Creamer     19th January 2017 Precious metals mining company Sibanye’s proposed acquisition, Stillwater Mining of the United States of America, edged forward on Thursday with the notification that both companies had received early termination of the waiting period under the US’s Hart-Scott-Rodino legislation, which means that... 

Sibanye’s Stillwater platinum deal edges forward
Photo by Duane Daws
Sibanye CEO Neal Froneman

Anglo shortlists bidders for some South African coal mines

By: Bloomberg     19th January 2017 Anglo American has shortlisted groups led by some of South Africa’s most prominent black businessmen as bidders for several of its South African coal mines as it focuses on diamonds, platinum and copper, two people familiar with the discussions said. Groups selected by Anglo include companies led... 

Anglo shortlists bidders for some South African coal mines

South32 says FY targets within reach despite challenging Dec quarter

By: Esmarie Swanepoel     19th January 2017 Despite a challenging December quarter, diversified mining company South32 remains on track to achieve its production guidance for the majority of its operations. The miner, which is the world’s biggest manganese ore producer, on Thursday reported higher manganese production, but said that its... 

South32 says FY targets within reach despite challenging Dec quarter
South32 CEO Graham Kerr

BHP and Vale set June deadline to settle Samarco claims

By: Esmarie Swanepoel     19th January 2017 Mining major BHP Billiton and its joint venture (JV) partner Vale have set a June 30 deadline to conclude negotiations with Brazilian prosecutors over the 2015 Samarco tailing dams failure, which killed 19 people. The parties have reached a preliminary agreement with Brazil, which outlines the... 

De Beers pilots fixed-price contracts for auction sales

By: Megan van Wyngaardt     19th January 2017 Diamond company De Beers will start piloting fixed-price forward contracts in its auction sales, providing customers the opportunity to guarantee access to future supply with certainty over the price to be paid when the contract reaches maturity. The first event to feature the fixed-price forward... 

De Beers pilots fixed-price contracts for auction sales

Acacia celebrates another productive year at its Tanzania operations

By: Megan van Wyngaardt     19th January 2017 Marking its fourth consecutive year of production growth, Aim-listed gold miner Acacia reported strong fourth-quarter production of 212 954 oz for the three months ended December 31. Production for the quarter was 6% higher than that of the fourth quarter of 2015 and 4% higher than third-quarter... 

Shanta Gold achieves record production, costs at New Luika

By: Megan van Wyngaardt     19th January 2017 East Africa-focused gold producer Shanta Gold on Thursday reported that it had beaten full year guidance on both cost and volume at its New Luika gold mine (NLGM), in southwest Tanzania. This follows record gold production of 87 713 oz for the year ended December 31, at an all-in sustaining cost... 

Hummingbird on track for Yanfolila’s first gold pour by year-end

By: Megan van Wyngaardt     19th January 2017 Aim-listed Hummingbird Resources has awarded the structural, mechanical, plate work and piping (SMPP) contract for its Yanfolila gold project, in Mali, where mine construction is currently under way, to construction company Imagri-SARL. The company on Thursday noted that plant construction was on... 

West African gets permit in Burkina Faso

By: Esmarie Swanepoel     19th January 2017 The government of Burkina Faso has awarded junior gold developer West African Resources a mining permit for its Sanbrado gold project, formerly know as the Tanlouka project. MD Richard Hyde said on Thursday that with the award of the mining permit, the company would now focus on completing the... 

Drilling confirms new find at Resolute's Syama in Mali

By: Esmarie Swanepoel     19th January 2017 Further drilling at the Syama gold mine, in Mali, has confirmed a "major" new gold discovery, owner Resolute Mining reported on Thursday. Additional high-grade intercepts were confirmed from diamond drilling of the Nafolo prospect, with Resolute reporting that the current drilling programme had... 

Canada's Strongbow, UK partner to explore for lithium in Cornwall

By: Reuters     19th January 2017 British mining company Cornish lithium said on Thursday it had entered a definitive mineral rights agreement with Canada's Strongbow Exploration to explore for lithium in Cornwall, southwest England, stoking hopes for a British mining revival. Cornwall historically was a mining hub and the... 

Finland's Terrafame nickel mine makes quarterly profit

By: Reuters     Updated 7 hours ago Finland's State-owned nickel and zinc mine Terrafame, which is looking for buyers, reported on Thursday it had returned to profit in the fourth quarter on the back of growing production volumes and rising metal prices. The government took over the northern mine last year and founded Terrafame to... 

NYSE drops initial fees for switching companies in listings war

By: Reuters     Updated 8 minutes ago The New York Stock Exchange has waived the first partial year of annual listing fees for companies that transfer their stock to the Big Board from another exchange, a move that could help it poach more companies from rival Nasdaq. Companies that currently list on the NYSE have to pay a pro-rated... 

New Vale pact seeks dispersed share ownership in six years – sources

By: Reuters     Updated 14 minutes ago Leading shareholders of Vale close to endorsing a plan to turn the world's No 1 iron-ore producer into a company with dispersed share ownership within six years, two people familiar with the talks said. Bradespar SA, Mitsui & Co and several Brazilian pension funds are negotiating a new... 

Encanto hits jackpot with direct-selling offtake agreement with Indian farmers’ coop

By: Henry Lazenby     Updated 1 hour 50 minutes ago The potash market on Thursday reverberated with the news that junior project developer Encanto Potash has struck a definitive offtake agreement with an India-based farmers’ coop for a minimum of five-million tonnes a year for at least 20 years, cutting out the middle man and selling direct to... 

Encanto hits jackpot with direct-selling offtake agreement with Indian farmers’ coop

Canadian mining darling finds gold in projects no one wants

By: Bloomberg     Updated 5 hours ago When Paul Andre Huet became chief executive officer of Klondex Mines in 2012, he says the Canadian gold miner had just $400 000 in cash, one asset and $7-million in invoices. “We never declared bankruptcy but on our financials we were literally done,” says Huet, who made the leap to the... 

Second judge chides DMR ineptitude 

     19th January 2017 A judgement of the Gauteng division of the High Court of South Africa has exposed the Department of Mineral Resources as an irrational institution with a high degree of incompetence. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to discuss the judgement. 

Second judge chides DMR ineptitude

Trump makes Canadian mine explorer with zero revenue great again

By: Bloomberg     19th January 2017 There’s one thing Donald Trump is already making great again: a small Canadian explorer with rights to one of the world’s largest undeveloped copper and gold deposits. Northern Dynasty Minerals has more than tripled since the US election to approach a four-year high this week amid speculation... 

Indian provinces demand hike in coal royalty rates ahead of national Budget

By: Ajoy K Das     19th January 2017 Indian provinces are stepping up pressure on the federal government to increase the royalty rates on the coal mined within their respective territories. Most of the coal-bearing provinces are demanding that the Indian government announce revised royalty rates when the national Budget is presented... 

Woodside CEO sees no need for M&A, plenty of growth in pipeline

By: Reuters     19th January 2017 Woodside Petroleum CEO Peter Coleman said there's little need for more mergers and acquisitions by Australia's biggest independent oil and gas producer as it works on developing a handful of new projects at home and abroad. The company, seen as short on growth, has had to rely on a few deals to... 

Rio starts work on new bauxite mine

By: Esmarie Swanepoel     19th January 2017 Diversified giant Rio Tinto has awarded a A$70-million bulk earthworks contract to Queensland-based civil engineering firm QBrit for work at its A$2.6-billion Amrun bauxite project, in Cape York. The project will produce at an initial rate of 22.8-million tonnes a year, with the option to expand... 

Environmental permit delay forces Red 5 to revise Siana strategy

By: Esmarie Swanepoel     19th January 2017 ASX-listed Red 5 will be forced to implement a revised operational strategy and openpit mine plan for its Siana gold mine, in the Philippines, after delays in obtaining regulatory approvals for amendments to its environmental compliance certificate (ECC). The approved ECC is required for the... 

Boyne blames ‘uncompetitive’ power prices for production curtailment

By: Esmarie Swanepoel     19th January 2017 Gladstone’s Boyne smelters, which are 59% held by mining major Rio Tinto, have announced production cuts and redundancies, blaming “unsustainably” high power prices. Boyne is currently Australia’s largest aluminium smelter, producing 570 000 t/y. 

Galaxy secures $40m debt funding

By: Esmarie Swanepoel     19th January 2017 Lithium producer Galaxy Resources has secured a debt facility of up to $40-million with BNP Paribas, to repay the outstanding balance of an OCP Asia facility, and for general corporate purposes. The loan will consist of three tranches, the first of which was a $10-million term loan, maturing at... 

Cameco stock nosedives on $180m to $220m impairment warning

By: Henry Lazenby     19th January 2017 The NYSE-listed stock of senior Canadian uranium miner Cameco on Wednesday fell 19% to C$10.71 apiece after the company reported late Tuesday that it expects to book impairment charges for the full-year ranging between $180-million and $220-million. In what has been an exceptionally difficult... 

Moody’s base metals optimism rises despite seeing price fall back this year

By: Henry Lazenby     19th January 2017 Market analyst and ratings agency Moody’s Investors Service has adjusted upwards its pricing sensitivities for base metals in 2017, but says despite the recent run-up in base metal prices not being sustainable, some of the positive sentiment will remain. Moody’s said Wednesday it expected the... 

Moody’s base metals optimism rises despite seeing price fall back this year
Photo by Bloomberg
Zinc prices are expected to find support in strong fundamentals

Primero hits lowered 2016 guidance, concern over cash position grows

By: Henry Lazenby     18th January 2017 Precious metals producer Primero Mining has met its revised lower guidance of 170 000 gold-equivalent ounces (GEOs) to 190 000 GEOs for 2016, producing 176 139 GEOs in the 12-month period. Industry-benchmark comparable all-in sustaining costs (AISC) came in at $1 326/oz, beating the revised... 

Great Lakes Graphite looks at steady 2017 sales as it prepares to ship three new orders

By: Henry Lazenby     18th January 2017 Graphite junior Great Lakes Graphite has received three new orders for 60 t of micronized graphite from the same US-based customer that bought 420 t of the carbon allotrope in 2016. “We are continuing to work towards the establishment of a supply agreement and are pleased to continue to conduct... 

Diamcor to double near-term output as trial mining continues

By: Henry Lazenby     18th January 2017 Canada-based project developer Diamcor Mining expects to more than double diamond production at its Krone-Endora at Venetia project, in South Africa’s Limpopo province, and treat all material from 1 mm to 45 mm size fractions moving forward, after acquiring, installing and commissioning several... 

Diamcor to double near-term output as trial mining continues

Rockfall claims one life at Implats’ 20 shaft

By: Natasha Odendaal     18th January 2017 A rockfall at Impala Platinum’s (Implats’) 20 shaft, in Rustenburg, on Wednesday claimed the life of one mineworker and injured another. Implats spokesperson Johan Theron confirmed the incident to Mining Weekly Online, noting that the shaft has been shut down pending investigation. 

BlueRock set for February processing restart at Kareevlei

By: Natasha Odendaal     18th January 2017 Aim-listed BlueRock Diamonds expects to restart the processing of run-of-mine (RoM) material at its Kareevlei operations, in the Northern Cape, early in February, following a thorough overhaul of the main components of the processing plant. The upgrades, which will increase the capacity and... 

Ariana to explore Turkey’s ‘hot gold’ corridor

By: Anine Kilian     18th January 2017 Gold exploration and development company Ariana Resources is planning to conduct exploration along what it calls the “hot gold” corridor, in Turkey, throughout this year. Several well defined target areas at Ardala South East and South West, Hizarliyayla and Incesu South, besides others, will... 

Davos boosts platinum fuel cell outlook with hydrogen council launch

By: Martin Creamer     18th January 2017 Hydrogen-powered fuel cell electric vehicles (FCEVs) offer the most natural solution for emission-free vehicles, discharging only water and requiring negligible change to current driving and refuelling habits, which is why 13 leading energy, transport and industry companies this week chose Davos... 

Davos boosts platinum fuel cell outlook with hydrogen council launch
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Diamond lobby said to seek ten-fold jump in budget to spur demand

By: Bloomberg     18th January 2017 The diamond industry is looking to up the ante on its effort to win over younger consumers more interested in gadgets and gastronomy. The Diamond Producers Association lobby will ask its backers including top miners De Beers and Alrosa PJSC to raise its budget to as much as $60-million a year... 

Afarak to acquire remaining 10% of Afarak Mogale

By: Anine Kilian     18th January 2017 Speciality alloys producer Afarak Group’s Afarak Mogale subsidiary will buy the 10% stake in the subsidiary held by the Mogale Alloys Trust for R64.9-million. Afarak Group in 2009 bought a 90% stake in Afarak Mogale, with the balance held by the trust. The trust has, on several occasions,... 

Vedanta's Zambia mine to pay first instalment of $100m fine by month-end

By: Reuters     18th January 2017 Konkola Copper Mines (KCM), owned by global conglomerate Vedanta Resources, will pay the first tranche of a $100-million fine to the Zambian government by the end of month, the country's investment firm said on Tuesday. The claim relates to outstanding payments under a 2013 copper price... 

Mining Indaba secures empowerment fund sponsor for junior miners

By: Creamer Media Reporter      18th January 2017 A new empowerment fund, JSS Empowerment Mining Fund, has signed on as sponsor of the new Junior Miners Pavilion and the Investment Battlefield Competition at the 2017 Investing in African Mining Indaba. The newly-launched empowerment mining fund, a partnership between boutique corporate finance... 

Mining Indaba secures empowerment fund sponsor for junior miners
JSS executive director Gaurav Nair

Latest News  by  

more

Company Post

more

Latest Videos and Audio

Second judge chides DMR ineptitude

Ghana govt renews Goldplat licence

On-The-Air (16/12/2016)

Sibanye Gold’s tailings project launch likely 'in next six months'

Resources Watch

South Africa must wake up to fuel cell race or risk losing out

Glencore on nickel and zinc developments

Mintek reveals new tailings retreatment process

more

Services News

Consulting Engineers

Contract Mining

Crushing and Screening

Drilling and Tunnelling

Earthmoving

Energy Services

Explosives

Furnaces and Kilns

Materials Handling

Opencast/Quarries

Pumps

Valves

Company Announcements

more

Research Reports

Projects

Press Office

more

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Close