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Glencore sees nickel shortage as electric vehicle demand burgeons

By: Martin Creamer     2nd December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising as a result of burgeoning demand from electric vehicle (EV) production. Batteries used in EVs are consuming about 100 000 t of nickel demand and if 10% of the world’s vehicle fleet transitions to electric power,... 

Glencore sees nickel shortage as electric vehicle demand burgeons
Glencore's Koniambo nickel project in New Caledonia, a French territory.

All systems go at Hernic as Jubilee eyes new projects

By: Natasha Odendaal     2nd December 2016 Mine-to-metals company Jubilee Platinum is days away from starting the commissioning of its new Hernic platinum group metals-bearing chrome tailings processing plant, in the North West. With some 90% of the budgeted capital spent to date, the group is nearing the full completion of the mechanical... 

Bloody diamonds entering the market now only 0.2% of global supply

By: Dylan Slater     2nd December 2016 The ban on diamond exports from conflict zones is proving successful in curbing so-called ‘conflict diamonds’ from being sold into official and black markets, thereby reducing their use as a potential source of finance for rebel groups. This is according to nonprofit diamond industry... 

Bloody diamonds entering the market now only 0.2% of global supply

Kumba expects higher FY earnings

By: Natasha Odendaal     2nd December 2016 JSE-listed Kumba Iron Ore expects an 20%-plus increase in earnings for the year to end December 31, owing to an increase in export iron-ore prices during the year and the weaker average rand:dollar exchange rate. The group, which will release its financial results on February 14, expects headline... 

Kibo, Opera Tanzania gold asset deal progressing well

By: Natasha Odendaal     2nd December 2016 The proposed sale of AltX- and Aim-listed Kibo Mining’s northern Tanzania-based gold assets to London-listed Opera Investment has now reached an advanced stage and is expected to conclude in due course. Kibo on Friday said that, while the spin-off of its Imweru and Lubando gold projects into a... 

Perseus settles Amara mining contractor dispute

By: Henry Lazenby     2nd December 2016 West African gold producer Perseus Mining has inked a settlement agreement with mining contractor BCM International and its subsidiaries over a dispute between BCM and various members of the Amara Mining group, which Perseus acquired earlier this year. The dispute with BCM related to outstanding... 

Nickel price forecast rises as market tightens into 2020

By: Henry Lazenby     2nd December 2016 The price of nickel is expected to continue its upward momentum over the next four years to 2020 as mine closures are expected to slow market growth, while ambitious US spending plans will potentially boost demand. Analysis by Fitch Group research arm BMI calls for a more bullish nickel price... 

Nickel price forecast rises as market tightens into 2020

Rare Earth Minerals acquires 7.7% stake in Auroch

By: Anine Kilian     2nd December 2016 London- and New York-listed Rare Earth Minerals (REM) has subscribed for 6.5-million new shares in ASX-listed Auroch Minerals through a A$650 000 share subscription, giving it a 7.7% interest in Auroch. “REM continues to deploy its expertise in identifying value investments in highly prospective... 

Botswana, Namibia expand scope of Trans-Kalahari railway project

By: African News Agency      2nd December 2016 The government of Botswana and Namibia have expanded the scope of the Trans-Kalahari Railway Line project from being a dedicated coal export route to a multisectoral project designed to unlock the potential of other economic sectors along the corridor. Addressing parliament in Gaborone on... 

India's Coal Minister says no value in splitting Coal India

By: Reuters     2nd December 2016 India's Power and Coal Minister Piyush Goyal said there was no value in splitting up India's biggest coal producer Coal India. Reuters reported on Wednesday that according to a presentation by senior government officials, a proposal has been mooted to break up of the country's Coal India... 

Anti-coal politics could harm Qld economy – Minister

By: Esmarie Swanepoel     2nd December 2016 Australia’s Minister for Resources and Northern Australia, Matt Canavan, has warned that attacks on the coal industry could threaten more than 180 000 jobs and A$30-billion in economic activity in Queensland. Canavan accused the Labor party of throwing its weight behind the Greens party, in... 

Anti-coal politics could harm Qld economy – Minister

Mining Weekly iPhone and Android Apps available for free download 

     2nd December 2016 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 MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Turquoise Hill stops shipments from Mongolian mine to China

By: Reuters     2nd December 2016 Canadian copper miner Turquoise Hill Resources Ltd said on Friday it had suspended shipments from its Oyu Tolgoi mine in Mongolia across the Chinese border, a day after the imposition of new fees on commodity shipments between the two countries. The fee was imposed following a diplomatic row... 

Turquoise Hill stops shipments from Mongolian mine to China
Oyu Tolgoi mine, Mongolia

Wollongong weighs appeal as court rejects bid

By: Esmarie Swanepoel     2nd December 2016 ASX-listed junior Wollongong Coal has said it is disappointed with the decision by the Land and Environment Court to set aside the company’s appeal on orders from the New South Wales Planning and Assessment Commission (PAC). The PAC in March this year released its review report in relation to... 

Woodmac gives warning on PRRT review

By: Esmarie Swanepoel     2nd December 2016 Some $20-billion worth of investment in the Australian liquefied natural gas (LNG) sector could be at risk if any major fiscal changes were implemented without proper consideration of their impact on the country’s competitive position, advisory firm Wood Mackenzie (Woodmac) has warned. The... 

Victoria jeopardising jobs and investment – MCA

By: Esmarie Swanepoel     2nd December 2016 The Minerals Council of Australia (MCA) has lashed out at the Victorian government, saying that much-needed new jobs and investment in the resource sector were being delayed or missed owing to antiquated approvals processes and uncertainty. MCA acting executive director for Victoria Gavin Lind on... 

Red Mountain opts out of the Philippines

By: Esmarie Swanepoel     2nd December 2016 ASX-listed Red Mountain Mining has struck a deal with its joint venture partner Bluebird Merchant Ventures over its 75% interest in the Batangas gold project, in the Philippines. Under the terms of the agreement, Bluebird will acquire Red Mountain’s share in the project in exchange for... 

Red River finds financing for Thalanga restart

By: Esmarie Swanepoel     2nd December 2016 The restart of the Thalanga zinc project, in Queensland, is now fully funded after ASX-listed Red River announced a A$30-million capital raise. The company told shareholders on Friday that it had received commitments to raise A$30-million through a two tranche placement of 162.1-million shares,... 

Power outage shuts potline at Alcoa’s Portland smelter

By: Esmarie Swanepoel     2nd December 2016 A power outage at the Portland aluminum smelter, in Victoria, has forced aluminium major Alcoa to halt production at one of two potlines. While the other potline is operating, Alcoa warned on Friday it could experience a significant instability in the short term. 

Power outage shuts potline at Alcoa’s Portland smelter

BP sanctions Mad Dog Phase 2 in Gulf of Mexico

By: Esmarie Swanepoel     2nd December 2016 Oil major British Petroleum (BP) has sanctioned the $9-billion Mad Dog Phase 2 project, in the US, which will include a new floating production platform with a 140 000 bbl/d capacity. Oil production is expected to begin in late 2021. 

China orders coal mines to conduct safety overhaul

By: Reuters     2nd December 2016 China has ordered all of the country's coal mines to conduct a safety overhaul in the past month, the official Xinhua news agency reported on Friday, citing the deputy director of the country's work safety watchdog. Mines should not be operating over capacity and miners should not be asked to... 

Kirkland Lake executive appointed CEO of Treasury Metals

By: Henry Lazenby     2nd December 2016 TSX-listed Treasury Metals has appointed former Kirkland Lake Gold executive Chris Stewart president and CEO, effective December 5, the company announced Thursday. Stewart, who has more than 24 years of diversified experience in the mining industry, will lead the company's transition through the... 

New twist in Kingsgate application to renew Thai licence

By: Esmarie Swanepoel     2nd December 2016 Gold miner Kingsgate Consolidated is “urgently” seeking clarity over a new twist in its application to renew its metallurgical processing licence at the Chatree gold mine, in Thailand. The miner in October submitted an application for a five-year renewal of the Chatree metallurgical licence, as... 

New twist in Kingsgate application to renew Thai licence

World’s LNG giant says everyone wins when buyers get their way

By: Bloomberg     2nd December 2016 The Japanese company poised to become one of the world’s largest LNG buyers says it shouldn’t need to pay producers to lift restrictions on where it can resell cargoes and that the removal would benefit the whole market, including sellers. Jera Co, a joint venture between Tokyo Electric Power... 

Enbridge closes $1.08bn sale of Prairie-based pipeline assets

By: Henry Lazenby     2nd December 2016 Dual-listed oil and gas logistics company Enbridge on Thursday announced that it has closed the $1.08-billion sale of liquids pipelines and related facilities in south-east Saskatchewan and south-west Manitoba to Tundra Energy Marketing. The assets include the Saskatchewan and Weyburn gathering... 

Hudbay prices $1bn senior notes offering

By: Henry Lazenby     2nd December 2016 Canadian base metals producer HudBay Minerals has priced its offering of $1-billion of senior notes, which will be issued in two series, the company said on Thursday. These will comprise a series of 7.25% senior notes due in 2023 for $400-million and a series of 7.625% senior notes due in 2025... 

American Lithium discovers flaws in exploration results at Fish Lake, Nevada

By: Henry Lazenby     2nd December 2016 Explorer American Lithium has discovered, through its quality assurance and quality control processes, that recent assay results provided by a third party on samples from the Fish Lake property, in Nevada, were flawed and should not be relied upon. Florin Analytical Services of Reno, conducted... 

Chile to capitalise copper producer Codelco with $975m

By: Reuters     1st December 2016 Chile's government will give state-owned copper miner Codelco $975-million in capitalisation so the cash-strapped firm can finance its ambitious investment plans, Finance Minister Rodrigo Valdes said on Thursday. World No1 copper producer Codelco returns all its profits to the state and is... 

Vale says expects judge to approve Samarco settlement soon

By: Reuters     1st December 2016 Vale, the world's top iron-ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron-ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a presentation in London that it "should not take long"... 

Shareholders in Polish coal producer JSW agree to wind down troubled mine

By: Reuters     1st December 2016 Shareholders in Polish State-run coking coal producer JSW agreed on Thursday to transfer its most troubled mine Krupinski to the State mining restructuring company SRK, which will eventually wind it down, the State-run news agency Polska Agencja Prasowa (PAP) said. The decision is key to JSW's... 

Norilsk Nickel takes legal action against BCL over failed asset sale

By: Megan van Wyngaardt     1st December 2016 Norilsk Nickel Mauritius and Norilsk Nickel Africa have filed legal claims against Botswana's largest copper and nickel producer, BCL Mine, in the Botswana courts and in the London Court of International Arbitration to recover $271.3-million, plus damages and other costs, in relation to the... 

Kibo receives integrated draft financial model for MCPP

By: Anine Kilian     1st December 2016 Tanzania-focused mineral exploration and development company Kibo has received an advanced draft of the integrated financial model for the Mbeya coal-to-power project (MCPP) from its financial advisers, Absa/Barclays. The model will be the subject of extensive review and further adjustment, based... 

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Diligent Glencore delivers on debt promise, restarts dividend
Photo by Duane Daws
Ivan Glasenberg at last year's hand over by Glencore of a R75-million school in South Africa's coalfields to Basic Education Minister Angie Motshekga.

BHP Billiton suffers another power failure at Olympic Dam

By: Esmarie Swanepoel     1st December 2016 The Olympic Dam uranium/copper mine, in South Australia, has suffered another power failure, costing the mine more than four hours of production. Mining major BHP Billiton told Mining Weekly Online on Thursday that the overnight power outage had resulted from an interconnector failure and a lag... 

CSG commission gets new lifeline

By: Esmarie Swanepoel     1st December 2016 The Queensland government will appoint an independent ombudsman to work with landholders and gas companies on coal seam gas (CSG) industry issues. State Development and Natural Resources and Mines Minister Dr Anthony Lynham said on Thursday that the new land access ombudsman was a central element... 

Gemfields postpones emerald auction for Indian customers to adjust to new reforms

By: Natasha Odendaal     1st December 2016 Aim-listed Gemfields has postponed its emerald auction until February to allow its India-based customers time to adjust to that country’s newly implemented demonetisation programme, which removes high denomination banknotes from circulation. The two-month delay in auctioning the predominantly... 

SAIL to double iron-ore production of its Bolani mine

By: Ajoy K Das     1st December 2016 Steel Authority of India Limited (SAIL), the country’s largest integrated steel producer, will double the production capacity of its Bolani iron-ore mine in the eastern Indian province of Odisha. The capacity of the mine will be ramped up to ten-million tons a year over the next four years from... 

Pilbara completes Lynas Find buy

By: Esmarie Swanepoel     1st December 2016 Juniors Pilbara Minerals and Dakota Minerals have completed the Lynas Find lithium transaction, allowing Pilbara to increase its lithium footprint in Western Australia. The two companies in October agreed to the sale of the Lynas Find project, under which Pilbara acquired the Lynas Find granted... 

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