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Significant changes to South African mining methods required – Hermanus

By: Ilan Solomons     Updated 26 minutes ago If there is no substantial change in the mining methods used in South Africa, gold and platinum mining could cease in 2033 and 2029, respectively, Council for Scientific and Industrial Research Natural Resources and Environment unit executive director Mavis Ann ‘May’ Hermanus warned on Wednesday.... 

Significant changes to South African mining methods required – Hermanus
Photo by Duane Daws
CSIR Natural Resources and Environment executive director May Hermanus

I am captured by the Constitution, not by the Guptas, says Molefe

By: Kim Cloete     Updated 35 minutes ago Eskom CEO Brian Molefe has strongly rejected allegations that he undermined and blocked a review by National Treasury into the utility's coal contracts with Gupta-linked company Tegeta Exploration and Resources. “I am captured by the Constitution, not by the Guptas,” said Molefe, fielding... 

I am captured by the Constitution, not by the Guptas, says Molefe
Eskom CEO Brian Molefe

Africa’s fastest-growing gold producer says more to come

By: Bloomberg     31st August 2016 Burkina Faso said it has more gold waiting to be discovered as the nation where output jumped more than 20 times in a decade reviews its geological records. The government wants to help companies that are already operating in the West African nation to lengthen the lives of their mines and make... 

Africa’s fastest-growing gold producer says more to come

KZN mining boss gunned down in an apparent hit

By: News24Wire      Updated 1 hour 19 minutes ago A Richards Bay mining boss has been gunned down in an apparent hit, KwaZulu-Natal police said on Wednesday. Richards Bay Minerals HR manager Ronny Nzimande was shot while sitting in his car outside his house on Tuesday night, Captain Nqobile Gwala said. 

Massive increase in the use of resources looms over the next decade

By: Kim Cloete     Updated 7 hours ago Stakeholders in the global minerals and metals industry, which uses 12% of global energy production, have been called to take responsibility in the quest for a more sustainable future. United Nations Environment Programme (UNEP) International Resource Panel member Dr Patrice Christmann said... 

South Africa’s biggest debt manager halts loans to State firms

By: Bloomberg     Updated 2 hours 39 minutes ago Africa’s biggest private fixed-income money manager will stop lending money to six of South Africa’s largest State companies because it’s concerned about how they are being run, government infighting and threats to the independence of the finance ministry. Futuregrowth Asset Management, which has... 

Despite ongoing dispute with Rand Refinery, Goldplat delivers 11 696 oz

By: Megan van Wyngaardt     Updated 1 hour 33 minutes ago Aim-listed Goldplat on Wednesday reported that its Africa-based projects delivered total gold and gold equivalent production of 11 969 oz in the three months to June 30. The quarter also delivered continued profitability and steady progress on priority capital projects in South Africa, Ghana and... 

Hummingbird study shows solid case for hydropower use at Liberia project

By: Megan van Wyngaardt     Updated 2 hours 2 minutes ago A recently completed prefeasibility study (PFS) at Liberia-focused miner Hummingbird Resources’ Dugbe gold project, has confirmed the viability of a range of options for hydroelectric power (HEP) plant use in supplying a sustainable source of power for Dugbe, as well as the south-east Liberian... 

AFC commits $3m to Ncondezi development

By: Megan van Wyngaardt     Updated 2 hours 29 minutes ago The Africa Finance Corporation (AFC) has committed an additional $3-million loan facility to Ncondezi Energy to fund ongoing project development costs at its 300 MW coal-fired power project in Tete, Mozambique. The loan, which will be paid in two tranches, will be used to cover costs not included... 

Kibaran testwork confirms quality of Tanzania project’s graphite

By: Megan van Wyngaardt     Updated 6 hours ago Commercial-scale testwork at ASX-listed Kibaran Resources’ Tanzania-based Epanko project continues to confirm the high quality of the graphite. The testwork results will assist in determining processing routes and sales prices, while also helping to underpin studies to expand Epanko’s planned... 

IGC attracts 4 000 delegates from 120 countries

By: Kim Cloete     31st August 2016 The International Geological Congress (IGC) in Cape Town has attracted more than 4 000 delegates from 120 countries and is anticipated to spark interest in all aspects of geology in Africa. “This conference is not for South Africa alone, but all of Africa,” thirty-fifth IGC co-president Professor... 

BHP CEO Mackenzie’s bonus axed after fatal Samarco dam failure

By: Bloomberg     31st August 2016 BHP Billiton CEO Andrew Mackenzie won’t get his 2016 bonus following last year’s fatal dam collapse at the Samarco iron-ore mine in Brazil. “The tailings dam failure at Samarco in November 2015 was a key consideration, along with the ongoing decline in commodity markets,” a BHP spokeswoman said... 

BHP CEO Mackenzie’s bonus axed after fatal Samarco dam failure
BHP Billiton CEO Andrew Mackenzie

Barrick appoints first chief investment officer

By: Henry Lazenby     30th August 2016 While the world’s largest gold producer Barrick Gold makes headway in reducing its excessive debt and atoning for its vagaries of the past, it has appointed Mark Hill as its first chief investment officer, effective September 12, to oversee all capital allocation decisions at the company. Barrick... 

Iron-ore dubbed ‘least favourite’ by Clarksons as miners sink

By: Bloomberg     31st August 2016 Iron-ore faces renewed pressure and prices may sink back below $50 a metric ton before the year-end as rising supply offsets an improvement in Chinese demand, according to Clarksons Platou Securities., which dubbed the raw material its least favourite commodity. There’s been a pickup in exports... 

Iron-ore dubbed ‘least favourite’ by Clarksons as miners sink

Brazil, Petrobras to revise subsalt oil contract terms this year

By: Reuters     Updated 26 minutes ago The Brazilian government and state-controlled oil company Petróleo Brasileiro could finalise a thorough revision of contractual terms for the exploration of a vast offshore oil region before year-end, a senior official said on Wednesday. The revision of a clause granting Petrobras the right to... 

Colombia's Cerrejon coal mine resumes exports

By: Reuters     Updated 32 minutes ago Colombia's largest coal mine, Cerrejon has restarted loading and exporting from its Bolivar port after a suspension last week due to suspected contamination, the company said on Wednesday. Work at the port began again on Tuesday, Cerrejon said in a statement. 

Victoria premier moves to ban unconventional gas development in the state

By: Samantha Herbst     Updated 5 hours ago Spearheaded by Victoria state premier David Andrews, the Labour government on Tuesday put forward a permanent ban on the exploration and development of all onshore unconventional gas in the state, including hydraulic fracturing (fracking) and coal seam gas. The proposed permanent legislative ban,... 

Friedland increases stake in Australian junior Clean TeQ

By: Megan van Wyngaardt     Updated 6 hours ago Clean TeQ’s largest shareholder and mining personality Robert Friedland has increased his holding in the Australian junior to 19.9% through a series of recent on market purchases, the ASX-listed company reported on Wednesday. Friedland, who is a well-known investor in international mining... 

Doray reports strong earnings despite lower product

By: Megan van Wyngaardt     Updated 6 hours ago ASX-listed Doray Minerals ended the 2016 financial year in June with strong earnings and record cash flow, despite lower production, compared with the previous year. The company, which owns the Andy Well mine and is ramping up production at its second Western Australia mine, Deflector, reported... 

Independence Group not deterred by lower pricing outlook

By: Megan van Wyngaardt     Updated 6 hours ago Although ASX-listed Independence Group (IGO) anticipates continuing commodity price volatility in the coming year and potential margin pressure on some of its producing assets, the company will increase its focus on bringing its Nova nickel project on line, while unlocking value at its Tropicana... 

Independence Group not deterred by lower pricing outlook
The Tropicana joint venture in Western Australia is a key asset for Independence Group.

Archer enters joint venture to explore noncore assets

By: Megan van Wyngaardt     31st August 2016 Magnesite and graphite developer Archer Exploration has executed a legally binding farm-in and joint venture agreement (JV) with Cobalt Bull, covering Archer’s noncore exploration assets in South Australia’s mid-north region. Under the terms of the JV agreement, Cobalt Bull will pay Archer A$200... 

Base widens loss on lower average prices

By: Megan van Wyngaardt     31st August 2016 ASX- and Aim-listed Base Resources reached the top end of its guidance range in the full year ended June 30, producing sales volumes of 480 538 t of ilmenite, 85 536 t of rutile and 33 062 t of zircon. This led to sales revenue growth of 16% to $169-million, achieving an average price of product... 

Coal India workers' one-day strike to have negligible impact

By: Ajoy K Das     31st August 2016 Coal India Limited’s (CIL) almost 400 000 employees will go on a one-day strike at all mines across the country on Friday, but the industrial action is expected to have minimal impact, owing to large stockpiles. Major trade unions have called for a strike across the country to protest the... 

Atlas matches price decline with cost savings, narrows loss

By: Mariaan Webb     31st August 2016 Despite record shipments, Perth-based iron-ore miner Atlas Iron remained in the red in the 2016 financial year, owing to low iron-ore prices. However, the miner narrowed its full-year loss to A$159-million, from A$1.38-billion in 2015, as cost reductions offset price declines. Atlas increased its... 

Gold set for rare losses this month as metal’s popularity dims

By: Bloomberg     31st August 2016 For the first time in seven years, gold has fared poorly in August. Futures have dropped 3% this month as the Federal Reserve moved closer to raising interest rates and bullion purchases for exchange-traded funds slowed.  

Lithium X files first compliant resource estimate for Argentina-based Sal de los Angeles

By: Henry Lazenby     31st August 2016 Vancouver-based lithium upstart Lithium X has filed a maiden Canadian National Instrument 43-101-compliant resource estimate for its flagship Sal de los Angeles project, in Argentina, establishing it as a large and high-grade project. Prepared by Chile-based FloSolutions, the technical report... 

Chile orders two copper mines suspended after fatal accidents

By: Reuters     31st August 2016 Chile's mining regulator on Tuesday ordered a halt to all operations at two major copper mines, State-owned Codelco's Chuquicamata mine and Freeport-McMoran's El Abra mine, to investigate separate fatal accidents. "We are concerned that today, August 30, we had two accidents with three lost... 

Advantage closes option to acquire stakes in Nevada lithium projects, water rights

By: Henry Lazenby     30th August 2016 TSX-V-listed explorer Advantage Lithium on Monday reported that it had successfully closed the acquisition of options to acquire a 70% interest in three Nevada lithium projects, a 50% interest in two Nevada lithium projects and a 100% stake in certain water rights in the Clayton Valley from... 

Workers at Chile Codelco's Salvador copper mine vote on strike

By: Reuters     30th August 2016 Workers at Chilean state-owned miner Codelco's smallest copper mine began voting on Tuesday whether to accept a wage offer or go on strike, a potential headache for the company as it finds itself in a delicate financial position. Union leaders at the Salvador mine in Chile's arid north say they... 

Codelco says Chuquicamata mine halted after fatal accident

By: Reuters     30th August 2016 Two workers died in an accident on Tuesday at Chilean state-owned miner Codelco's massive Chuquicamata mine, the company said, prompting the world's No 1 copper producer to halt mining activities there. At around 1 pm local time on Tuesday, two workers were involved in a fatal accident while... 

PotashCorp, Agrium confirm in talks for 'potential merger of equals'

By: Henry Lazenby     30th August 2016 Two of the world’s largest crop nutrients companies, Potash Corporation of Saskatchewan and Argrium Inc, on Tuesday confirmed that they were engaged in discussions regarding a “potential merger of equals”. Bloomberg News, citing unnamed sources, first reported Tuesday that the merger, which could... 

PotashCorp, Agrium confirm in talks for 'potential merger of equals'

Worker dies at Freeport El Abra copper mine; some operations halted

By: Reuters     30th August 2016 Chile's El Abra copper mine, controlled by Freeport-McMoran, said on Tuesday that a worker died after an accident at its acid unloading terminal, forcing a halt to some operations. "The deceased worker was carrying out his job at the acid unloading terminal, and for reasons under investigation,... 

Educate the next generation of mine water specialists, says Council for Geoscience

By: Kim Cloete     30th August 2016 More medium-term and long-term solutions, including desalination, are needed to combat the water quality and treatment challenges on the old Witwatersrand gold mines, says the Council for Geoscience's Henk Coetzee. In an address to the thirty-fifth International Geological Congress, Coetzee... 

Roodepoort Rocket back as DRDGold pays off-charts dividend 

By: Martin Creamer     30th August 2016 It will be tough for dump retreatment company DRDGold to beat this year’s results. The Johannesburg- and New York-listed company’s market capitalisation has rocketed from R700-million to more than R3-billion, reminding investors of its Roodepoort Rocket nickname of old, because of the way it... 

DRDGold CEO Niël Pretorius talks to Mining Weekly Online’s Martin Creamer about DRDGold’s incredible dividend year. Video and Video editing: Darlene Creamer 30.8.2016

Nordgold reports y/y profit loss, lowers production guidance

By: Anine Kilian     30th August 2016 Diversified low-cost gold producer Nordgold’s net profit for the six months ended June 30 was down 30% year-on-year to $94.1-million, compared with the corresponding period in 2015, while half-year revenue decreased by 19% to $520.4-million for the year ended June 30. This could be attributed to... 

Nordgold reports y/y profit loss, lowers production guidance

Waterberg Coal Company continues financing talks

By: Megan van Wyngaardt     30th August 2016 The Waterberg Coal Company (WCC) is in ongoing discussions with an existing stakeholder to conclude a short-term bridging loan of up to A$1.8-million, until its recapitalisation is completed. Despite the coal market having suffered “serious degradation” in pricing over the last few years, the... 

New initiative launched to boost geoscientific skills in Africa

By: Kim Cloete     30th August 2016 An initiative to strengthen geoscientific knowledge and skills in Africa has been launched at the thirty-fifth International Geological Congress (IGC), in Cape Town. The PanAfGeo initiative is a collaboration between the Organisation of African Geological Surveys (OAGS) and EuroGeoSurveys. 

Panoramic suffers severe loss amid plummeting nickel price

By: Samantha Herbst     30th August 2016 Nickel-focused Panoramic Resources’ 2016 financial year results have been severely impacted by the falling nickel price, which reached a decade low in February, pushing the company into an after-tax loss of A$144.4-million, against a loss of A$28.8-million reported in the previous year. Further,... 

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Roodepoort Rocket back as DRDGold pays off-charts dividend

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