R/€ = 15.51 Change: -0.04
R/$ = 13.17 Change: 0.05
Au 1282.80 $/oz Change: 8.41
Pt 981.50 $/oz Change: 9.50

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Technology set to unleash mining innovation – Anglo’s O’Neill

By: Martin Creamer     16th August 2017 In the next ten years, technology is set to unleash a wave of mining innovation, with the sweet spot centred on changing the thinking around orebodies and processing plants rather than much-spoken-about automation. “Our focus has changed from hunting technologies to hunting value,” Anglo American... 

Technology set to unleash mining innovation – Anglo’s O’Neill
Anglo American technical director Tony O’Neill

Krugerrand demand resurgence anticipated to result in record sales  

By: Ilan Solomons     Updated 5 hours ago Increased demand for gold has supported sales of the gold bullion Krugerrands and this year is predicted to yield the highest sales since the 1980s, with an expected 15% to 20% increase on the 1.1-million ounces of the coins sold in 2016. This is according to precious metal smelting and refining... 

Rand Refinery marketing executive head Richard Collocott discusses the significance of the fiftieth anniversary of the launch of the gold bullion Krugerrand

Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand

By: Mia Breytenbach     16th August 2017 There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid markets, with demand to peak in 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy subsidiary... 

Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand
Photo by Duane Daws
Bushveld Minerals CEO Fortune Mojapelo

EMR Capital to take 80% stake in Zambia copper mine

By: Reuters     16th August 2017 Private equity house EMR Capital has purchased an 80% stake in a Zambian copper mine from African Rainbow Minerals (ARM) and its partner for $97.10-million, ARM said on Tuesday. The 80% indirect interest in Lubambe Mine, held equally by ARM and Vale International includes the equity holding in... 

Electricity intensive firms to approach Nersa for new job-saving tariff deal

By: Terence Creamer     16th August 2017 The Energy Intensive Users Group (EIUG) will approach the National Energy Regulator of South Africa (Nersa) before the end of September with a proposal for structural changes to Eskom’s tariff for large power users by removing existing cross-subsidies to assist businesses whose future... 

Electricity intensive firms to approach Nersa for new job-saving tariff deal
EIUG chairperson Dr Tsakani Mthombeni

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

By: Terence Creamer     Updated 7 hours ago Trade union Solidarity has confirmed receipt of a Section 189A retrenchment notice from steel producer ArcelorMittal South Africa (AMSA) and has indicated that it will enter negotiations with the company to ensure alternatives to retrenchments are considered. On Tuesday, AMSA announced that it... 

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

Mining contractors progressing work at Xtract’s Mozambique gold project, alluvial mining to start soon

By: Mia Breytenbach     Updated 7 hours ago The mining contractor activity at Aim-listed Xtract Resources’ Manica concession area, in Mozambique, is progressing “favourably”, with initial mining of the alluvial gold deposits expected to start at the end of this month, the company reported on Wednesday. Xtract’s Mozambique subsidiary... 

Sierra Rutile bribery scandal unlikely to affect Iluka operations

By: Esmarie Swanepoel     16th August 2017 ASX-listed mineral sands miner Iluka said on Wednesday that a bribery scandal at its recently acquired Sierra Rutile operations, in Sierra Leone, was unlikely to have a material impact on the company. Reports emerged this week that Iluka had uncovered suspected bribe payments made by... 

Sierra Rutile bribery scandal unlikely to affect Iluka operations

Mustang ruby inventory grows to 147 000 ct

By: Creamer Media Reporter      Updated 6 hours ago ASX-listed Mustang Resources’ ruby inventory at the Montepuez project, in Mozambique, has grown to 147 052 ct, on track for reaching the targeted 200 000 ct to be sold at the company’s inaugural auction in October. The growing inventory is, in part, the result of work to increase water supply to... 

Triton tips possible partner for Ancuabe

By: Esmarie Swanepoel     16th August 2017 Graphite developer Triton Minerals has signed a memorandum of understanding (MoU) with China’s Sinoma Overseas Development Company providing terms for offtake, engineering, procurement and construction (EPC) services, debt financing and project investment at the Ancuabe project, in Mozambique.... 

Mauritania issues 30-yr mine licence for Algold’s Tijirit project

By: Henry Lazenby     16th August 2017 West Africa-focused junior project developer Algold Resources has received a formal decree by the Mauritania government granting a 30-year mining licence for the Tijirit project. Montreal, Quebec-based Algold in June announced that the Mauritania government intends to issue the mining licence,... 

Shortage of Chinese rare earths spot material bodes well for Mkango – report

By: Henry Lazenby     15th August 2017 Structural changes in China’s rare earths supply chain bodes well for companies outside of that country that are developing new rare earths projects. A new report published by respected industry observer Adamas Intelligence of Sudbury, Ontario, highlights a 50% increase in the price of certain... 

Shortage of Chinese rare earths spot material bodes well for Mkango – report

China's Chalco plans $500m investment in Guinea bauxite project

By: Reuters     Updated 5 hours ago Aluminium Corp of China (Chalco) plans to invest $500 million in a project to produce bauxite, used to make aluminium, in Guinea starting next year, the mines ministry said. The deal comes after a trip by the Guinean mines minister, Abdoulaye Magassouba, to China and follows other major Chinese... 

Zinc breaks through $3 000 barrier as metals rally gathers pace

By: Bloomberg     Updated 6 hours ago Zinc surged above $3 000 a metric ton amid persistent global deficits, and aluminium climbed as China reined in illegal capacity, adding fresh impetus to the rally even as some investors expressed concerns. Zinc jumped as much as 2.6% to $3 037/t on the London Metal Exchange, the highest level... 

Nornickel delivering coal to remote settlements in Russian Arctic

By: Creamer Media Reporter      Updated 6 hours ago The Polar transport division of nickel and palladium miner Nornickel said on Wednesday it had shipped about a third of the 72 000 t of coal it planned to deliver to remote settlements in the Russian Arctic this year.  Nornickel, which is a key participant of the Northern Supply Haul programme,... 

Davenport extends landholding in German potash basin

By: Mariaan Webb     Updated 7 hours ago Melbourne-registered Davenport Resources has signed an agreement with a German government agency to buy three potash mining licences in the South Harz region for €1.2-million. Davenport, which is listed on the ASX, will acquire the licences from Bodenverwertungs-und-verwaltungs – the agency... 

Parliamentary State capture probe hits first hurdle

By: African News Agency      16th August 2017 The investigation into State capture by Parliament’s portfolio committee on public enterprises on Wednesday hit its first hurdle as it was confirmed to members that the legislature would not pay for an independent evidence leader. Acting chairperson Zukiswa Rantho told MPs she had asked the chair... 

Parliamentary State capture probe hits first hurdle

China to ban primary mercury mining by 2032 as convention comes into force

By: Reuters     16th August 2017 China will ban the production and trade of a range of products containing mercury by 2020, including thermometers and blood pressure monitors, and ban primary mercury mining by 2032, as a global pact to cut pollution from the metal comes into effect. China - the world's biggest miner and... 

Miners drive strong European share gains as investors await GDP figures

By: Reuters     16th August 2017 Miners and oil stocks helped Europe's major share index make robust gains on Wednesday as higher metals prices lent a hand and investors awaited eurozone GDP figures expected to confirm the bloc's economic growth was on track. The pan-European STOXX 600 rose 0.7%, its third day of gains after a... 

European Metals bolsters Cinovec team to deliver DFS next year

By: Mariaan Webb     16th August 2017 ASX- and Aim-listed European Metals has appointed Craig Reimer to head the definitive feasibility study (DFS) of the Cinovec lithium/tin project in the Czech Republic. The appointment is aimed at strengthening the Cinovec team, as European Metals works towards delivering a DFS for the project in... 

India, Iran talks on Farzad B gasfields near breaking point 

By: Ajoy K Das     16th August 2017 The protracted negotiations between India and Iran on the Farzad B gasfields have come to a halt following a hardening of stance by both countries. No top level talks between officials of India and Iran have been held since the expiry of the last deadline of February, but official written... 

Freeport Indonesia says flash floods damage mine power plant

By: Reuters     16th August 2017 Flash floods have left one worker missing and caused extensive damage to a power plant at US-owned miner Freeport Indonesia's operations in the eastern-most province of Papua, company officials said on Wednesday. Mining operations were continuing as normal, but power and water outages were... 

BC Iron swings back to black

By: Esmarie Swanepoel     16th August 2017 Junior miner BC Iron has swung back into black during the full year ended June, as the company’s Iron Valley operation delivered strong results. BC Iron on Wednesday reported after tax profit of A$7.1-million from continuing operations, compared with a loss of A$43.9-million in the previous... 

ONGC Videsh earmarks $1bn for oil production growth

By: Ajoy K Das     16th August 2017 ONGC Videsh, the overseas arm of Indian exploration and production (E&P) major ONGC, is aiming to complete a $1-billion capital expenditure programme during the 2017/18 financial year. This investment spread across exploration, development and production will enable ONGC Videsh to achieve oil... 

Revenues rise for MinRes

By: Esmarie Swanepoel     16th August 2017 ASX-listed Mineral Resources has reported a 24% increase in revenue for the 2017 financial year, as its Mount Marion spodumene operation, in Western Australia, ramped up to full capacity. Revenue increased from A$1.1-billion in 2016 to A$1.4-billion, while earnings before interest, tax,... 

Resolute signs heritage agreements over Ravenswood

By: Esmarie Swanepoel     16th August 2017 Gold miner Resolute Mining has inked two heritage agreements with the Queensland government over its Ravenswood expansion project. ASX-listed Resolute said on Wednesday that the agreements were an important component of the approvals required to start mining at the Buck Reef West openpit, which... 

Woodside profits surge in H1

By: Esmarie Swanepoel     16th August 2017 ASX-listed Woodside Energy has reported a 49% increase in half-year net profit after tax to $507-million, as production reached 42.2-million barrels of oil equivalent. Production for the first half of 2017 was slightly lower than the 45.9-million barrels of oil equivalent reported in the... 

Origin widens losses in FY17

By: Esmarie Swanepoel     16th August 2017 Oil and gas producer Origin Energy has widened its statutory loss for the 2017 financial year, from A$628-million reported at the end of 2016, to A$2.22-billion. The company earlier warned of a A$1.2-billion post tax impairment on the second half of the 2017 financial year, driven by a... 

Work stops at Nifty

By: Esmarie Swanepoel     16th August 2017 Underground operations at the Nifty copper mine, in Western Australia, have been temporarily suspended as owner Metals X undertook remedial repairs to the secondary escapeway. The ASX-listed company said on Wednesday that the repairs would take around seven days to complete, with the mine to... 

Miner Hochschild's H1 pretax profit falls 33.8% on higher costs

By: Reuters     16th August 2017 Precious metals miner Hochschild Mining's pretax profit fell 33.8% in the first half of the year, hurt by higher costs. Attributable silver production rose 8.9% to 8.9-million ounces in the six months ended June 30, and the company said it was on track to deliver attributable production of... 

WA court orders winding up of Eastern Goldfields

By: Esmarie Swanepoel     16th August 2017 The ASX suspended shares of Eastern Goldfields from being traded on Wednesday after the Western Australian Supreme Court ordered that the company be wound up and a liquidator be appointed. Assay provider Genalysis Laboratory Services lodged the winding up case, which was heard on Tuesday. 

Pullback in US fracking sand use pressures producers

By: Reuters     16th August 2017 US shale oil companies are pulling back on the amount of sand they use to hydraulically fracture new wells, responding to rising prices of the material that are driving up costs. Investors worry a slowdown in sand use, combined with new mining capacity coming online, could lead to a glut of the... 

Marikana massacre to be commemorated at hillside where massacre occurred

By: News24Wire      16th August 2017 The deaths of 34 miners during the Marikana massacre in 2012 will be commemorated by the Association of Mineworkers and Construction Union (Amcu) on Wednesday at the hillside where the massacre occurred. Police shot and killed the miners on August 16, 2012, in an apparent attempt to disperse... 

Marikana massacre to be commemorated at hillside where massacre occurred

Elliott Management raises stake in BHP to 5%

By: Reuters     16th August 2017 Hedge fund Elliott Management has raised its stake in BHP Billiton to 5%, stepping up a campaign to make the top global miner quit all or part of its petroleum business, boost returns and ditch its dual listing. New York-based Elliott launched its effort in April, at which point it held a 4.1%... 

Prize Mining exploration hits highest gold-in-soil sample ever at Silver King shear system

By: Henry Lazenby     16th August 2017 Junior explorer Prize Mining has intersected the highest gold-in-soil sample in recorded history along the Silver King shear system at its Kena-Daylight gold project, in south-eastern British Columbia. The Calgary, Alberta-based company on Tuesday reported the initial batch of soil assay results... 

Imperial running low on cash as debt payments loom, production dwindles

By: Henry Lazenby     16th August 2017 Base metals producer Imperial Metals is reviewing its mine plans and its capital requirements because of lower-than-expected metal output in the first half of this year, the company said late on Monday. To tide it over, the Vancouver-based company, which operates the Red Chris and Mount Polley... 

Despite ongoing diamond breakage, Stornoway reports higher prices for its gems

By: Henry Lazenby     16th August 2017 Quebec-based miner Stornoway Diamond Corp has reported higher prices for rough diamonds produced at its flagship Renard mine, the Francophone province’s first diamond mine. For the three months ended June 30, Stornoway earned revenues of C$42.6-million, as rising rough diamond prices at Renard... 

Despite ongoing diamond breakage, Stornoway reports higher prices for its gems

Cliffs Natural Resources reverts to original Cleveland-Cliffs name

By: Henry Lazenby     15th August 2017 US iron-ore specialist Cliffs Natural Resources has renamed the company to its historical name Cleveland-Cliffs, as part of celebrating its 170th anniversary, the company announced on Tuesday. Under the name Cleveland-Cliffs, the company has been operating for decades as an important part of the... 

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