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De Beers plans to keep South African diamond exploration spend at R30m a year

By: Martin Creamer     Updated 3 hours ago Diamond company De Beers plans to maintain its diamond exploration spend in South Africa at R30-million to R35-million a year. De Beers Consolidation Mines (DBCM) CEO Phillip Barton, who spoke to Mining Weekly Online in a video interview (see attached) on the sidelines of the Diamond Route... 

De Beers plans to keep South African diamond exploration spend at R30m a year
Photo by Creamer Media
Phillip Barton (right) and Martin Creamer

Newcrest to wrap up Wafi-Golpu study by year-end

By: Esmarie Swanepoel     Updated 7 hours ago Gold major Newcrest is hoping to complete an updated prefeasibility study (PFS) on its Wafi-Golpu joint venture, in Papua New Guinea, by the end of 2014, the Australian company reported on Tuesday. The project, which is being developed with South Africa’s Harmony Gold and comprises the Golpu and... 

Tiger ups production as SX-EW plant hits nameplate

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has reported a significant surge in production after its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reached nameplate capacity. First copper cathode was produced in May this year, and the... 

Diminishing gas continues to stifle PetroSA’s GTL output

By: Terence Creamer     Updated 3 hours ago South Africa’s national oil company PetroSA produced 14% less refined product in 2013/14 than budgeted, owing to diminishing gas feedstock. The State-owned group also warned that that inadequate feedstock would remain a constraint on its future performance. The company produces 5.8-million... 

Diminishing gas continues to stifle PetroSA’s GTL output

Brown outlines State company board costs

By: Creamer Media Reporter      Updated 1 hour 11 minutes ago Public Enterprises Minister Lynne Brown has released details of the remuneration of the chairpersons and nonexecutive directors of the various State-owned company boards falling under her Ministry. The remuneration figures, which are attached, are based on figures published by the companies as of... 

Brown outlines State company board costs
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Production restored at MDL’s Senegal mineral sands project

By: Natalie Greve     Updated 1 hour 16 minutes ago Mining operations are back in ramp-up mode at Australia-based Mineral Deposits Limited’s (MDL’s) Grande Côte mineral sands project, in Senegal, after being interrupted in August following impellor failures of the main dredge pump. The group said in a third-quarter operations review that mining... 

Randgold asks DRC to match local investment, maintain positive legal climate

By: Henry Lazenby While Randgold Resources’ Kibali gold mine, in the Democratic Republic of Congo (DRC), continued with its scheduled ramp-up, the company on Monday appealed to the local and national governments to match the nearly $600-million investment in the local economy and maintain an investor-friendly... 

Randgold asks DRC to match local investment, maintain positive legal climate

StratMin signs offtake deal for Madagascar graphite

By: Creamer Media Reporter      Updated 6 hours ago Aim-listed graphite producer StratMin Global Resources has started selling natural flake graphite from its Madagascar-based operations to an undisclosed independent graphite processor and merchant. This followed on the signing of an offtake agreement between the parties, which was effective... 

Sentula sells DRC-based drilling assets amid exploration crunch

By: Natalie Greve     Updated 2 hours 56 minutes ago Sentula Mining subsidiaries Sentula Mining Services and Senex have inked a deal to offload idle property, plant, equipment and associated inventory held in the Democratic Republic of the Congo (DRC) to Orezone Drilling Mauritius and its DRC-focused drilling subsidiary Orezone Drilling DRC for... 

Grindrod unveils new cost-effective shunting, short-haul locomotive

By: Natasha Odendaal     Updated 1 hour 34 minutes ago JSE-listed Grindrod’s rail division on Tuesday vowed to make rail operations more cost-effective in Africa, as Grindrod Locomotives unveiled its new, cost-effective fit-for-purpose shunting and short-haul locomotive. The new GS7, launched at Rovos Rail in Pretoria, boasted 80% local content and... 

Grindrod unveils new cost-effective shunting, short-haul locomotive
Photo by Duane Daws
Grindrod rail divisional CE James Holley

Stellar to start Baoulé diamond sales before year-end

By: Creamer Media Reporter      Updated 7 hours ago West Africa-focused diamond development company Stellar Diamonds expects to start selling diamonds from its Baoulé trial mining project, in Guinea, before the end of this year. The miner had completed the processing of the first kimberlite sample from the project, following the successful... 

Yaoure 2014 drilling programme confirms presence of high-grade areas

By: Leandi Kolver     Updated 1 hour 22 minutes ago The 2014 drilling programme at West Africa-focused gold mining company Amara Mining’s Yaoure gold project, in Côte d'Ivoire, has confirmed the presence of high-grade areas in the Yaoure central zone and demonstrated strong continuity in the high-grade CMA zone. Amara chairperson and CEO John... 

Drilling at Cameroon iron-ore play reveals upside potential

By: Natalie Greve     Updated 58 minutes ago A reconnaissance drilling programme at West African Minerals’ South Sanaga iron-ore license, in Cameroon, has intersected multiple coarse-grained magnetite gneiss packages with grades and thicknesses sufficient to initiate a follow-up drill programme designed to deliver a maiden mineral resource... 

Second drill hole at Lac Dinga confirms potash mineralisation

By: Natalie Greve     Updated 2 hours 27 minutes ago Sub-Saharan Africa-focused African Potash has intersected multiple potash seams at the second exploration drill hole at its Lac Dinga potash project, in the Republic of Congo. The latest drill hole, which was completed at one of two delineated target locations, intersected a 112-m-thick salt... 

Global supply glut increases iron-ore downside risks – Moody’s

By: Henry Lazenby A growing oversupply in the iron-ore market was damaging the credit quality of producers and posed risks to the downside, Moody's Investors Service noted last week in a sector comment - ‘Iron-ore supply increases pose risk to market fundamentals’. Owing to an aggressive supply push by the major... 

Global supply glut increases iron-ore downside risks – Moody’s

India takes baby steps towards open coal sector

By: Ajoy K Das     Updated 7 hours ago The Indian government has given the first hints of legislative changes designed to usher in the de-nationalisation of the country’s coal sector. While no timeframe for the dramatic reform of the sector had been given, the government has indicated that de-nationalisation was the path it would... 

Balamara consolidates Mariola ownership in A$13m deal

By: Esmarie Swanepoel     Updated 7 hours ago ASX-listed junior Balamara Resources on Tuesday announced a A$13-million all-scrip deal to consolidate the ownership of the Mariola thermal coal project, in Poland. Under the terms of the transaction, Balamara would issue 200-million of its own shares, or similar, to acquire the remaining 85% of... 

Creamer Media publishes Defence 2014: A review of South Africa's defence industry research report

Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand strategic defence procurement... 

Creamer Media publishes Defence 2014: A review of South Africa's defence industry research report

Iron-ore flood leaves little wriggle room for minnow Atlas

By: Reuters     Updated 7 hours ago A flood of low-cost iron ore is driving tiny Australian miner Atlas Iron to its break-even point, underscoring the pain inflicted by a ramp-up in output by mega-producers Rio Tinto and BHP Billiton. Atlas, which raced into production half a decade ago when iron ore prices were booming on the... 

WA enviro approval clears rare earths project for development

By: Esmarie Swanepoel     Updated 7 hours ago he Western Australian government has given environmental approval for ASX-listed Northern Minerals to develop its Browns Range heavy rare earths project. The environmental clearance marked the completion of the Browns Range project’s primary environmental assessment process. 

Australian horse breeders halt Anglo American coal expansion plans

By: Esmarie Swanepoel The New South Wales Planning Assessment Commission (PAC) has refused diversified major Anglo American’s application to develop the Drayton South mine, claiming it would negatively affect the Coolmore and Dudley horse breeding studs. The Drayton mine has been in operation since 1983 and produces... 

Australian horse breeders halt Anglo American coal expansion plans

Havilah gets go-ahead for Portia development

By: Esmarie Swanepoel Junior Havilah Resources has been granted approval by the South Australian government to start mining at its Portia gold project. ASX-listed Havilah told shareholders on Tuesday that the Department of State Development had approved the programme for environmental protection and rehabilitation... 

Andy Well delivers strong quarter for Doray

By: Esmarie Swanepoel Gold production from the Andy Well operation, in Western Australia, has remained steady during the three months to September, with the project operating to expectations, owner Doray Minerals reported on Tuesday. During the first quarter under review, gold production at Andy Well reached 18 265... 

Maintenance issues hinder St Barbara output

By: Esmarie Swanepoel A planned two-week maintenance period at the Leonora operation, in Western Australia, has resulted in ASX-listed St Barbara reporting a significant decline in gold production during the September quarter. During the three months under review, group gold production reached 68 823 oz, compared... 

Flinders adds to Pilbara resource

By: Esmarie Swanepoel Iron-ore hopeful Flinders Mine has increased the resource at its flagship Pilbara iron-ore project, after nearly doubling the resource at the Blackjack deposit. Based on a recent drilling campaign at Blackjack, the deposit was now estimated to host some 86.2-million tonnes of resource, grading... 

Buenaventura scales back plans for Chucapaca gold project

By: Reuters Peruvian miner Buenaventura has scaled back plans for its Chucapaca gold project since taking full control of the deposit from Gold Fields earlier this year, the company told Reuters on Monday. Buenaventura will now invest $700-million in the project instead of an earlier estimate of $2-billion,... 

On back of strong Q3 output growth, Klondex lifts full-year outlook

By: Henry Lazenby Nevada-focused gold producer Klondex Mines on Monday reported a 73% quarter-on-quarter rise in precious metals produced during the three months ended September 30, as production benefitted from increased mill throughput and higher gold grades. The company, which this year transformed from a... 

Monument Mining obtains Malaysia federal stay order pending hearing

By: Henry Lazenby Malaysia-focused gold producer Monument Mining has obtained a stay from the Federal Court against the Court of Appeal's order forcing it to deposit $9.4-million into a joint account maintained by legal counsels of the respective parties to a lawsuit regarding a claimed interest in the Selinsing... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

By: Henry Lazenby US coal producer Peabody Energy’s NYSE-listed stock was on Monday trending lower despite the company reporting a much narrower loss than what Wall Street analysts were expecting, mainly owing to lower costs at its Australian operations. For the three months ended September 30, the St Louis,... 

Peabody beats Street Q3 forecast as Australian cost savings lift results

Niko Resources’ stock tumbles after Indian govt announces new gas price

By: Henry Lazenby Calgary-based Niko Resources, which has oil and gas exploration operations across Southeast Asia, on Monday said it was currently evaluating the impact of the Indian government’s new domestic gas pricing policy on its assets in the country. The company’s TSX-listed stock on Monday fell by more... 

Shanta delivers record gold output, hikes New Luika resource

By: Natasha Odendaal London-listed Shanta Gold on Monday reported record gold output for the third quarter of the year. The East Africa-focused gold production and exploration company delivered 22 720 oz of gold during the three months to September, up 4% from the 21 940 oz delivered during the second quarter of the... 

Gold Fields on track to reach full-year production target, cost estimates revised downwards

By: Leandi Kolver Gold miner Gold Fields on Monday announced that its attributable gold equivalent production for the three months ended September as expected to be about 559 000 oz. All-in sustaining costs (AISC) and all-in costs (AIC) for the third quarter were expected to be about $1 074/oz and $1 096/oz... 

Fraser Alexander appoints interim CEO

By: Chantelle Kotze Jaap Nel has stepped down as CEO and as a member of the board of directors of mining solutions company Fraser Alexander, which is a subsidiary of Royal Bafokeng Holdings. His resignation is effective October 13. 

Fraser Alexander appoints interim CEO
Photo by Duane Daws
Fraser Alexander interim CEO Velile Nhlapo

Nordgold completes acquisition of Burkina Faso project

By: Leandi Kolver London-listed Nordgold has completed the acquisition of Canadan mineral exploration company Goldrush Resources’ Ronguen gold project, 10 km from Nordgold’s Bissa mine, in Burkina Faso. Nordgold had, in June this year, entered into a share purchase agreement with Goldrush to acquire all the shares... 

Davis Tax Committee mulls ways to 'detect and deter' corporate tax avoidance 

By: Terence Creamer The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted on Monday that recommendations were being considered to “detect and deter” tax-avoiding financial... 

Davis Tax Committee mulls ways to 'detect and deter' corporate tax avoidance
Photo by Duane Daws
Judge Dennis Davis

Tiger closes deal to fully acquire Kipoi copper play

By: Natalie Greve ASX-listed Tiger Resources has completed the acquisition of the remaining 40% shareholding in Société d’Exploitation de Kipoi (SEK), the owner of the Kipoi copper project, in the Democratic Republic of Congo (DRC). SEK was now a wholly-owned subsidiary of Tiger, with the deal having followed the... 

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