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Young HDSA diamond beneficiators doing well – De Beers 

By: Martin Creamer     17th October 2017 The model launched last year by De Beers for the development of young historically disadvantaged South Africans (HDSAs) as diamond beneficiators is proving highly successful, De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala said on Tuesday. Speaking to Mining Weekly Online on the... 

De Beers Senior VP Sightholder Sales South Africa Mpumi Zikalala talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd and Lionel de Silva.

De Beers’ eighth sales cycle nets $370m

By: Anine Kilian     17th October 2017 Diamond miner De Beers reported revenue of $370-million for its eighth rough diamond sales cycle of this year. This was lower than the $494-million in revenue earned in the eighth sales cycle of 2016. 

Kibali on track as it prepares for completion of underground mine

By: Anine Kilian     17th October 2017 Randgold Resources’ Democratic Republic of Congo- (DRC-) based Kibali gold mine remains on track to achieve its production target of 610 000 oz this year as its underground operations and the integration and automation of the vertical shaft enters the final commissioning and automation stage, CEO... 

Kibali on track as it prepares for completion of underground mine
Photo by Duane Daws
Randgold Resources CEO Mark Bristow

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates

By: Henry Lazenby     17th October 2017 Canadian alluvial diamond miner Rockwell Diamonds, which had its origins within Vancouver-based mining house Hunter Dickenson, has reported a noncash comprehensive income of C$23.2-million for the second quarter ended August 31. The result is based almost entirely on the reversal of foreign... 

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates
Photo by Rockwell Diamonds
Rockwell Diamonds' Niewejaarskraal operation in better days

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

By: Kim Cloete     17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has started its keenly awaited inquiry into allegations of State capture, with a warning that key witnesses will not be allowed to shy away from appearing before Parliament. “We have a right to subpoena a witness if we think that witness has... 

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

McKinsey 'embarrassed' by failings in South Africa scandal

By: Reuters     17th October 2017 McKinsey said on Tuesday it was embarrassed by errors it made while working with South African utility Eskom on a R1.6-billion contract that is being investigated by Parliament and police over allegations of fraud. Privately-held McKinsey, the world's largest management consultancy, said it had... 

McKinsey 'embarrassed' by failings in South Africa scandal

Rio Tinto produces more iron-ore and coal, but cuts copper guidance

By: Esmarie Swanepoel     17th October 2017 Diversified major Rio Tinto has reported increased production across its iron-ore and coal assets, but has adjusted its copper output expectations for the full year on the back of delays at the Escondida operation. “The business performed very well in the September quarter, with a strong... 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Cora Gold appoints drilling contractor for Mali discovery

By: Anine Kilian     17th October 2017 West Africa-focused gold exploration company Cora Gold’s wholly owned subsidiary Cora Gold Mali has entered into a contract with Target Drilling for the supply of aircore (AC), reverse circulation (RC) and diamond core drilling services at its flagship Sanankoro gold discovery in South Mali.  The... 

Stratex sells stake in Goldstone

By: Anine Kilian     17th October 2017 Aim-listed gold exploration and development company Stratex has sold its 13.7% stake in Goldstone Resources to institutional investors at a price of 1.6p a share for a total cash consideration of £0.55-million. “Following the dilution of Stratex's shareholding in Goldstone, resulting from a... 

Baobab expansion to cost $53.4m

By: Esmarie Swanepoel     17th October 2017 Initial studies into an expanded plant at the Baobab phosphate project, in Senegal, has estimated that the project would require a capital investment of $53.4-million to increase nameplate capacity from the current 500 000 t/y to one-million tonnes a year of high-grade phosphate rock... 

Gately to step down as Resgen chair

By: Creamer Media Reporter      17th October 2017 Denis Gately will resign as chairperson and director of coal development company Resource Generation, known as Resgen, with effect from November 22. The company’s other directors have proposed to elect Lulamile Xate to succeed him as chairperson. 

Rio Tinto declares force majeure on copper from US mine

By: Reuters     Updated 3 hours ago Global miner Rio Tinto declared force majeure last Friday on shipments of refined copper from its Kennecott mine, in the US, following the death of a worker, a spokesperson said on Tuesday. There was no timeline for when the force majeure would be lifted, spokesperson Kyle Bennett said. A force... 

Miners beware growing cyber risk

By: Henry Lazenby     Updated 5 hours ago Cyber risk has increased in prominence on professional services firm EY’s annual ‘Top 10 business risks facing mining and metals’ report released on Tuesday, jumping to third position from nine in 2016. According to EY, cyber risk is an ever-growing issue — an outcome of increased digital... 

Miners beware growing cyber risk

Six miners killed, one wounded in coal mine collapse in Turkey - aid agency

By: Reuters     17th October 2017 Six miners were killed and another was wounded after part of a coal mine in Turkey's southeastern province of Sirnak collapsed on Tuesday, Turkey's AFAD aid agency said. AFAD said search and rescue teams were searching for another worker who was trapped at the site. 

Brexit takes bureaucracy to the atomic level for UK industry

By: Bloomberg     17th October 2017 To understand the implications of Brexit, it helps to go nuclear. Of all the international regulatory challenges created by the UK’s impending departure from the European Union, the atomic-energy industry may best encapsulate the decision’s bottom-line effect: more bureaucracy and costs for a... 

KGHM plays down recent breakdown impact

By: Reuters     17th October 2017 Polish copper producer KGHM Polska Miedz said on Tuesday it expects no big negative impact on sales or core earnings from the recent breakdown of a smelter in the city of Glogow. "We hope that we will be able to recoup some losses," CEO Radoslaw Domagalski-Labedzki told reporters. 

Petropavlovsk Q3 output up 1.6%

By: Mariaan Webb     17th October 2017 LSE-listed miner Petropavlovsk has reported a marginal increase in its gold production in the September quarter. The company, which operates the Pioneer, Pokrovskiy, Malomir and Albyn mines in Russia, produced 104 000 oz of gold in dore, compared with 102 400 oz in the third quarter of 2016. 

Explorer Ferrum Crescent adopts revised strategy

By: Creamer Media Reporter      17th October 2017 Exploration firm Ferrum Crescent has announced a revised exploration strategy for the Toral base metals project, in Spain, including the appointment of expert geological advisers to better understand the project economics. The revised strategy will be led by newly appointed executive director... 

Independence unveils nickel exploration budget for 2018

By: Esmarie Swanepoel     17th October 2017 ASX-listed diversified miner Independence Group will spend nearly 60% of its A$50-million exploration budget in 2018 on the Nova and Fraser Range project area. Independence MD and CEO Peter Bradford told delegates at the Paydirt nickel conference in Perth, on Tuesday, that A$9-million would be... 

WA’s exploration incentive in the firing line as gold royalty leaves A$100m hole

By: Esmarie Swanepoel     17th October 2017 Western Australia’s Exploration Incentive Scheme (EIS) could be in the firing line as the state government scrambles to make up the A$100-million a year hole left by the tanking of the proposed gold royalty. Speaking on the sidelines of the Paydirt nickel conference, Mines and Petroleum Minister... 

Stanmore sets new sales record

By: Esmarie Swanepoel     17th October 2017 ASX-listed coal miner Stanmore Coal has reported record coal sales for the September quarter, despite output declining by 20% compared with the previous quarter. Coal sales for the quarter were up 55% on the June quarter to 411 000 t, reducing coal stocks from 258 000 t to 164 000 t. 

Metals X revisits Wingellina on higher cobalt price

By: Esmarie Swanepoel     17th October 2017 An increase in the cobalt price has prompted ASX-listed Metals X to revisit its Wingellina nickel/cobalt/scandium project, in Western Australia. A previous feasibility study into the Wingellina project estimated that the project could deliver about 40 000 t/y of nickel and 3 000 t/y of cobalt... 

Coolgardie could deliver 65 000 oz for Primary Gold

By: Esmarie Swanepoel     17th October 2017 The Coolgardie gold project, in Western Australia, could yield about 65 000 oz of gold over an initial 28-month mine life, ASX-listed Primary Gold reported on Tuesday. A prefeasibility study (PFS) found that the project would require a capital investment of A$850 000 to develop a 480 000 t/y... 

WA govt to clear red tape for miners

By: Esmarie Swanepoel     17th October 2017 The Western Australian government has committed to a number of reforms to support the state’s nickel industry. Speaking at the Paydirt nickel conference, in Perth, Mines and Petroleum Minister Bill Johnston said that the government was committed to reducing red tape and regulatory duplications... 

BHP’s entry into nickel sulphate ‘well timed’, cobalt sulphate may be next

By: Esmarie Swanepoel     17th October 2017 Mining major BHP is reviewing the timing of its Stage 2 nickel sulphate plant at the Kwinana refinery, in Western Australia, on the back of high demand. BHP Nickel West asset president Eduard Haegel said on Tuesday that potential customer visits had confirmed that the company’s entry into the... 

Peru says over 20 companies interested in $2bn copper project

By: Reuters     17th October 2017 More than 20 companies have expressed an interest in bidding on the $2-billion Peruvian copper project Michiquillay in an auction due to take place on December 20, the Peruvian government said on Monday. The auction date had been pushed back from the originally scheduled November 15, state... 

Talks between SQM, Chile authorities end with no deal

By: Reuters     17th October 2017 Talks to resolve a legal dispute between Chilean authorities and Sociedad Quimica Y Minera (SQM) have ended at an impasse, leaving the fate of the company's lease of lithium reserves to a judge, the government said on Monday. Chile's state-run development agency Corfo has alleged that the... 

Leagold lifts Bermejal Underground measured, indicated resources 94%

By: Henry Lazenby     17th October 2017 Gold producer Leagold Mining has updated the compliant indicated and measured Bermejal Underground resource by 94% to 1.97-million ounces, the company reported on Monday. The measured and indicated Bermejal Underground resource, located at the company’s flagship Los Filos operation, in Mexico,... 

Four mining legends to be inducted in Canada’s Mining Hall of Fame

By: Henry Lazenby     17th October 2017 The Canadian Mining Hall of Fame (CMHF) has revealed that it will induct four mining legends to its ranks early in the new year, the organisation announced on Monday. Ross Beaty, Bob Gannicott, Terry MacGibbon and Ed Thompson will be added to the group of 177 hall of famers during a ceremony to... 

Atlatsa retreats into hibernation

By: Henry Lazenby     16th October 2017 Black economic empowered platinum group metals (PGMs) company Atlatsa Resources has confirmed that its 51%-owned Bokoni platinum mine, in South Africa, has been placed on care and maintenance on October 1, as part of an Anglo American Platinum- (Amplats-) backed restructuring agreement. The TSX-... 

AMCU calls for commission into mine safety

By: Anine Kilian     16th October 2017 In addition to regular inquiries in terms of the Mine Health and Safety Act, the Association of Mineworkers and Construction Union (AMCU) has called for a commission to be set up by the Department of Mineral Resources to determine the real causes of several mining accidents over the past few... 

Iraqi forces capture North Oil Co. from Kurdish forces; no disruption to oil production

By: Reuters     16th October 2017 Iraqi on Monday forces captured the headquarters for the North Oil Company, northwest of Kirkuk, and a nearby refinery from Kurdish forces, without fighting, an Iraqi oil official said. Iraq forces moved into the premises of Iraqi state-owned North Oil after taking the nearby K1 airbase, the... 

Shanghai rebar extends rally to one-month high, lifts iron-ore

By: Reuters     16th October 2017 Chinese rebar steel futures advanced for a third straight day to hit a one-month peak on Monday, supported by output cuts in the world's top producer as part of the government's battle against smog. The gains in steel prices lifted iron-ore, although traders were not convinced the increase in... 

Implats buys 15% stake in Waterberg project

By: Anine Kilian     16th October 2017 JSE-listed Impala Platinum (Implats) will buy a combined 15% interest in the Waterberg platinum group metals (PGMs) project from TSX- and NYSE-listed Platinum Group Metals (PTM) and the Japan Oil, Gas and Metals National Corporation (Jogmec) for $30-million. Implats has also secured an option to... 

Implats buys 15% stake in Waterberg project
Photo by Duane Daws
Implats CEO Nico Muller

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Sibanye-Stillwater avoids closure of certain South African PGM business units

By: Anine Kilian     16th October 2017 The closure of Sibanye-Stillwater conventional business units has been averted. Sibanye-Stillwater previously indicated that between 200 000 oz/y and 300 000 oz/y of platinum, palladium, rhodium and gold, or 4E platinum group metals (PGMs), capacity could be cut, should some conventional shafts... 

Sibanye-Stillwater avoids closure of certain South African PGM business units
Photo by Duane Daws
Neal Froneman

Stellar agrees to sell Guinea assets for $1.25m

By: Anine Kilian     16th October 2017 West Africa-focused Stellar Diamonds and BDG Capital have agreed on a final purchase price of $1.25-million for Stellar’s Guinea assets. This follows the completion of a due diligence by BDG. 

Vast Resources reports higher output

By: Creamer Media Reporter      16th October 2017 UK-headquartered Vast Resources on Monday reported stronger operational results from its mines in Romania and Zimbabwe, with third-quarter tonnes mined, milled and copper and gold production outperforming the previous quarter. The Manaila polymetallic mine, in Romania, delivered an “exceptional... 

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