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Africa entering phase of becoming factory of world – Menell

By: Martin Creamer Africa was entering a phase of becoming the factory of the world requiring the building of facilitating infrastructure, Credit Suisse Securities chairperson Rick Menell. Speaking  during a panel discussion at the 2016 Investing in African Mining Indaba, Menell outlined how Africa’s large resource... 

Africa entering phase of becoming factory of world – Menell
Photo by Duane Daws
Credit Suisse Securities chairperson Rick Menell

Platreef will be the largest PGM mine in the world, promises Friedland

By: Kim Cloete Africa-focused explorer and project developer Ivanhoe Mines is confident that its Limpopo-based Platreef mine, which is expected to produce 12-million tonnes a year, will be the largest platinum group metals (PGMs) mine in the world “by a massive margin”. Addressing conference delegates at the... 

Platreef will be the largest PGM mine in the world, promises Friedland
Ivanhoe Mines CEO Robert Friedland

PTM produces first concentrate at renamed Maseve mine

By: Henry Lazenby Vancouver-based Platinum Group Metals (PTM) has produced the first concentrate at its Maseve platinum mine (formerly known as the Western Bushveld Joint Venture Project 1), near Rustenburg, South Africa, after completing a 72-hour test during hot commissioning of its concentrator facility. The... 

PTM produces first concentrate at renamed Maseve mine
Photo by Platinum Group Metals
Maseve project, South Africa

Anglo engaging harshest critics, Indaba hears

By: Martin Creamer Anglo American is engaging with its harshest critics because they are often the best people to learn from, Anglo American CEO Mark Cutifani said during a panel discussion at the 2016 Investing in African Mining Indaba. Moderated by International Council on Mining and Metals (ICMM) CEO Tom... 

Anglo engaging harshest critics, Indaba hears
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Mining’s stressed state moving govts, investors closer – Bristow

By: Martin Creamer The current stressed state of the mining sector was prompting governments and investors to work together to sustain the industry and make it deliver real value for all stakeholders, Randgold Resources CEO Dr Mark Bristow said on Wednesday. Speaking at the 2016 Investing in African Mining Indaba,... 

Mining’s stressed state moving govts, investors closer – Bristow
Photo by Bloomberg
Randgold Resources CEO Dr Mark Bristow

AngloGold says Ghana manager killed in riot over illegal mining

By: Reuters AngloGold Ashanti said on Wednesday its head of corporate affairs in Ghana was killed on Saturday during a riot among illegal miners at its Obuasi mine, which is currently idle as the company waits for a partner for the operation. "We can confirm that John Owusu was killed on Saturday," AngloGold... 

Labour department pulls back from Highveld training layoff scheme after deal fails

By: Creamer Media Reporter Steel producer Evraz Highveld Steel and Vanadium announced on Wednesday that the Department of Labour had put a “pause” to Training Layoff Scheme (TLS) payments in response to confirmation that the proposed sale of the business to International Resources Limited (IRL), of China, had failed. The... 

Labour department pulls back from Highveld training layoff scheme after deal fails

With steel protection set to widen, focus turns to downstream risks

By: Terence Creamer With confirmation that government and the steel industry are close to finalising a package of measures designed to preserve the future of the embattled primary steel sector, there are concerns that domestic steel consuming industries could be squeezed between tariff-protected domestic steel... 

With steel protection set to widen, focus turns to downstream risks

China has ‘very serious’ structural problem – Broadman

By: Martin Creamer A very serious structural problem is playing itself out in China and not merely a reorienting to a consumption-led economy, says Council on Global Enterprise and Emerging Markets director Dr Harry Broadman. Broadman, who delivered the second keynote address at the 2016 Investing in African Mining... 

China has ‘very serious’ structural problem – Broadman

Caledonia heads into revised investment plan

By: Anine Kilian Southern Africa-focused exploration and development company Caledonia Mining Corporation has entered into a six-month cap and collar hedge with a financial counterparty over 15 000 oz of production, using a collar value of $1 050/oz and a cap value of $1 080/oz. The hedge would provide Caledonia... 

Danakali eyes new product stream at Colluli

By: Esmarie Swanepoel Potash developer Danakali would initiate a scoping study into potential sulphate of potash magnesia (SOP-M) production from its Colluli project, in Eritrea. The company said on Wednesday that it had produced high purity, chloride free SOP-M from the Colluli potash project using salts from the... 

Montepuez proves up for Metals of Africa

By: Esmarie Swanepoel A concept study into ASX-listed Metals of Africa’s Motequez graphite project, in Mozambique, has estimated that the project could deliver up to 100 000 t/y of graphite concentrate, for a capital investment of $166-million. Based on a processing rate of 1.2-million tonnes a year, the project is... 

Rwanda signs tin and tantalum mining deal with Omani-owned Tri Metals

By: Reuters Rwanda has signed a five-year mining contract worth $39-million with a unit of Oman's Mawarid Mining to extract tin, tantalum and niobium, the mining ministry said on Tuesday. Mining, which the government says contributes about 1.5% of Rwanda's $7.9-billion gross domestic product, is the East... 

Innovation the key to success in troubled mining sector

By: Kim Cloete A study into innovation in Africa’s mining sector has shown that mining houses will need to innovate if they want to succeed in a sector marked by plunging commodity prices, deeper and more dangerous mines, greater geographical complexity and labour unrest. The ‘Innovation State of Play: Africa’... 

Innovation the key to success in troubled mining sector

Iamgold reports maiden resource at second West Africa greenfield discovery in 3 yrs

By: Henry Lazenby Canadian gold miner Iamgold has reported a National Instrument 43-101-compliant maiden resource for the Diakha deposit, located on the Siribaya joint-venture (JV) project, in western Mali, West Africa. The Siribaya exploration project is operated by Iamgold under a 50/50 JV with Merrex Gold. 

As pressure on BHP and Glencore grows, Australia cuts may signal nickel revival

By: Reuters Australian nickel miners are under increasing pressure to suspend or cut production, with investors eyeing key announcements in coming weeks after rival producers in New Caledonia won a pledge of support from France. Benchmark prices of the steel-making material have fallen more than 45 percent... 

Energy to define future Australia-India relations

By: Esmarie Swanepoel India was seeking an increased engagement with Australia on uranium and gas exports to fuel its demand for electricity generation, India’s Minister of State with Independent Charge of Power, Coal, and Renewable Energy, Piyush Goyal, said on Wednesday. Speaking ahead of the third Australia-India... 

Energy to define future Australia-India relations

India unlikely to grant demand for lower iron-ore export tax

By: Ajoy K Das The Indian government is unlikely to slash the export tax on high-grade iron-ore although it might prune the rate for low-grade ore, even as miners step up accusations that the government is killing the mining industry. The Steel and Mines Ministry was not keen to submit any proposal for a... 

Creamer Media publishes Construction 2016: A review of South Africa's construction industry research report

Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic empowerment; competition; the... 

Creamer Media publishes Construction 2016: A review of South Africa's construction industry research report

Gold miner Kinross forecasts brighter 2016 production, costs

By: Reuters     Updated 1 hour 9 minutes ago Kinross Gold, squeezed by slumping prices and production declines, expects to shake off a money-losing 2015 with record output and lower costs this year, the world's fifth-largest producer by output said on Wednesday. CEO Paul Rollinson said the Toronto-based miner is "running a tight ship" that... 

Franco-Nevada to buy Glencore precious metals stream for $500m

By: Reuters     Updated 1 hour 11 minutes ago Toronto-based Franco-Nevada has agreed to acquire a precious metal stream in southern Peru from Glencore for $500-million and arranged a $550-million financing to fund the deal, it said on Wednesday. Franco-Nevada's president and CEO David Harquail said the acquisition would further strengthen... 

Engineers Without Borders working towards establishing local procurement reporting standard

By: Henry Lazenby     Updated 5 hours ago The Mining Shared Value initiative of Engineers Without Borders Canada (EWB) has partnered with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to work with international mining companies in establishing a measurement and reporting standard for local procurement by the... 

Anaconda options two more Newfoundland and Labrador properties

By: Henry Lazenby     Updated 7 hours ago Junior gold producer Anaconda Mining has struck two option accords with explorer Spruce Ridge Resources to acquire a 100% interest in the Viking property and the next-door Kramer property, in the company’s first step out from its Point Rousse stronghold, located on the nearby Ming's Bight... 

Centerra lifts total reserves 9%

By: Henry Lazenby     Updated 7 hours ago Canadian miner Centerra Gold has increased its total reserve base by 9% to 8.4-million ounces of contained gold as at the end of December, up from 7.7-million ounces a year earlier. At the end of 2015, Centerra’s estimated proven and probable gold reserves increased by 666 000 contained ounces,... 

Mining Indaba is more relevant in bust than in boom – MD

By: News24Wire The mining crisis and subsequent job losses in the industry might have had an impact on the number of delegates at the Investing in African Mining Indaba in 2016, but the dialogue between key leaders at the event meant this year’s event carried greater weight than other years. That is according... 

Indonesia allows Freeport to resume copper exports for another six months

By: Reuters Indonesia on Wednesday granted Freeport-McMoRan a new six-month export permit for shipments from one of the world's largest copper mines, ending a near two-week stoppage due to a dispute over payment for a new metal smelter. The deal is a relief for both sides as a lengthy halt in exports would... 

Lily Mine rescue team moves 550 t of rock

By: News24Wire At 08:40 on Wednesday morning it was exactly five full days since disaster struck at Lily Mine in Louisville, near Barberton in Mpumalanga. For the past 120-plus hours, rescue teams have been working non-stop to get to the last three mineworkers that remain trapped in a metal container which the... 

Oz Minerals’ 2015 profit surges on record output

By: Esmarie Swanepoel Copper/gold miner Oz Minerals reported a 168% increase in its after-tax net profit for the year ended December 31, on the back of record copper production of 130 305 t. After-tax net profit surged to A$130.2-million during the 2015 financial year, compared with A$30.3-million reported in the... 

Mincor widens loss to nearly A$35m

By: Esmarie Swanepoel The decision to mothball its Western Australian mines amid a nickel price slump has resulted in Mincor Resources widening its half-year loss from A$1.89-million in the first half of 2015 to A$34.69-million in the six months to December. Mincor on Wednesday reported asset impairments of about... 

Tinkler steps aside as APC boss

By: Esmarie Swanepoel Mining personality Nathan Tinkler has resigned as MD and CEO of ASX-listed Australian Pacific Coal (APC) after he was declared bankrupt by the Federal Court. The Federal Court judgment related to a dispute over money owed from the 2013 sale of a luxury jet, with court documents indicating that... 

Ardiden to invest in second lithium project

By: Esmarie Swanepoel ASX-listed Ardiden has entered into an option agreement for a second Canadian lithium project. The company announced on Wednesday that it had signed an option agreement to acquire the Root Lake lithium project, in Ontario, to complement its recent option over the Seymour Lake... 

Guptas get interdict against EFF

By: News24Wire The Gupta brothers on Tuesday obtained an urgent interdict to stop the EFF from threatening them. Judge Johan Louw granted an order in the High Court in Pretoria, interdicting the party, its leader Julius Malema and its Gauteng spokesperson Ntobeng Ntobeng from making threats of violence against... 

Guptas get interdict against EFF

Newcrest makes contact with trapped miner

By: Esmarie Swanepoel Contact has been established with the miner trapped underground at the Gosowong operation, in Indonesia, gold miner Newcrest Mining reported on Wednesday. Newcrest MD and CEO Sandeep Biswas said that contact with the miner was established through a small diameter hole drilled through 54 m of... 

Unity revenue declines as takeover close draws near

By: Esmarie Swanepoel Takeover target Unity Mining has reported a 42% decline in revenue for the six month ending December, compared with the previous corresponding period, as mining ceased at the Henty mine, in Tasmania. Unity also reported a net loss after tax of A$9.6-million, which was on par with the net loss of... 

Senior lenders back Glencore's loan refinancing

By: Reuters Global diversified natural resource company Glencore is expected to wrap up senior syndication of a one-year revolving credit that refinances existing debt by the end of next week after a strong market response, bankers said on Tuesday. Glencore is refinancing a $8.45-billion loan that supports... 

Anglo American sees no output impact from Los Bronces mine leak

By: Reuters Anglo American said on Tuesday that a milling plant at its Los Bronces copper mine, in Chile, remained closed after a leak was detected over the weekend, but that it did not foresee any impact on production from the stoppage. The leak was found on farmland close to the capital Santiago during a... 

Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

By: Henry Lazenby Agricultural products producer Agrium Inc has reported positive headline earnings for the three months ended December 31, beating market expectations convincingly. However, its earnings forecast for the full-year 2016 came in below expectations and weighed on its share price performance on... 

Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

Taseko expects to benefit from BC’s power cost deferral programme

By: Henry Lazenby Base metals producer Taseko Mines expects to benefit from recently announced planned support for struggling mining companies in British Columbia. Premier Christy Clark recently revealed that government was working on a plan to enable struggling mining companies to defer some of their “very... 

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