http://www.miningweekly.com
R/€ = 14.37 Change: -0.03
R/$ = 11.66 Change: 0.02
Au 1328.56 $/oz Change: 0.17
Pt 996.00 $/oz Change: -0.51
 
Close

Email me free daily news

Email address

Froneman calls for collective action towards zero harm in fatality-plagued mining business

By: Martin Creamer     Updated 3 hours ago A strong call to action was made by Sibanye-Stillwater CEO Neal Froneman on Thursday for a common purpose towards zero harm in South Africa's mining industry, where rising fatality numbers are causing great concern. Froneman said a point had been reached where management on its own could not make... 

Froneman calls for collective action towards zero harm in fatality-plagued mining business
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

Restructured Anglo American reaps benefits, posts solid FY17 results

By: Simone Liedtke     Updated 3 hours ago After an extensive restructuring, diversified miner Anglo American raised its dividend for the 2017 financial year to $1.02 a share - its highest dividend in nearly a decade. The "fundamentally different business" nearly halved its debt to $4.5-billion and doubled its free cash flow by 93% to... 

Restructured Anglo American reaps benefits, posts solid FY17 results
Diversified miner Anglo American

De Beers sets higher output target for 2018

By: Simone Liedtke     Updated 2 hours 25 minutes ago Global diamond miner De Beers has set a production target of as high as 36-million carats for 2018. In its 2017 results announcement the Anglo American subsidiary reported a production guidance of 34-million carats to 36-million carats, which compares with 33.45-million carats produced in 2017. 

Goldplat reaches final settlement in Rand Refinery dispute

By: Schalk Burger     Updated 3 hours ago Aim-listed gold producer Goldplat on Thursday said Rand Refinery would pay it an undisclosed amount as a final settlement of the dispute between the two parties. “By agreeing on a settlement, we have averted further costs and risks involved in the legal process, as well as put an end to the... 

Solidarity still seeking payment for former Aurora employees from liquidators

By: Megan van Wyngaardt     Updated 2 hours 32 minutes ago Trade union Solidarity on Thursday raked up old grievances when it directed a letter to the joint liquidators of Aurora Empowerment Systems expressing its dissatisfaction with the delays in payment to its members and other former Aurora gold mineworkers. General secretary Gideon du Plessis noted... 

Striking Gupta mineworkers demand answers about their future

By: News24Wire      Updated 3 hours ago Striking mineworkers at Gupta-owned Optimum Coal Mine have demanded to know the "truth of the sale" of the mine. Workers downed tools on Wednesday morning, saying there was uncertainty over their jobs and the future of the mine. 

Striking Gupta mineworkers demand answers about their future
Ajay Gupta

Resolute’s $38m net profit in line with expectations

By: Nadine James     22nd February 2018 Australia-based gold miner Resolute Mining has posted a 40% fall in first-half net profit of A$38-million, which CEO John Welborn said on Thursday was in line with expectations as the company remained in an investment phase. Revenue for the six-month period ended December 2017 was A$203-million,... 

Finnish authority obliges Koncar to launch takeover bid for Afarak

By: Anine Kilian     Updated 2 hours 44 minutes ago The Finnish Financial Supervisory Authority (FIN-FSA) has obliged Afarak CEO Danko Koncar to launch a takeover bid for Afarak Group shares, and imposed a running conditional fine to enforce the obligation.   LSE- and Nasdaq-listed Afarak on Thursday published a statement issued by the FIN-FSA,... 

Burkina Faso seeks new partner for $1bn manganese project

By: Bloomberg     Updated 6 hours ago Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1-billion project. Pan African Minerals, a unit of Timis Mining, was told to stop production at the Tambao mine in 2015 following a change in... 

Lucara's FY17 profit dips 8% on lower sales

By: Henry Lazenby     22nd February 2018 Southern Africa-focused miner Lucara Diamond Corp has reported an 8% drop in full-year profit as lower production and the sale of fewer special diamonds weighed on the bottom line. The Vancouver-based miner, which operates its flagship Karowe mine, in Botswana, reported net income of... 

Avesoro set to acquire $10.3m in heavy mining equipment

By: Natasha Odendaal     Updated 2 hours 40 minutes ago TSX- and Aim-listed Avesoro Resources’ Bea Mountain Mining subsidiary has entered into equipment finance agreements to acquire $10.3-million in heavy mining and additional auxiliary equipment for the New Liberty gold mine, in Liberia. The equipment finance facility agreements with Mapa İnşaat ve... 

Former Old Mutual CEO joins board of mineral sands miner Base

By: Creamer Media Reporter      Updated 3 hours ago The former CEO of asset manager Old Mutual Investment Group, Diane Radley, has been appointed to the board of ASX- and Aim-listed Base Resources. Radley, whose independent nonexecutive director appointment was effective from February 1, brings significant and diverse African experience to the... 

Families of slain Marikana miners call on Ramaphosa to turn his promises into action

By: News24Wire      Updated 2 hours 18 minutes ago Following President Cyril Ramaphosa’s promise of atonement for the Marikana massacre, 36 families of the striking miners who were killed have said that reparations should include a formal apology from the police minister and criminal charges against the police officers involved. During... 

Families of slain Marikana miners call on Ramaphosa to turn his promises into action
President Cyril Ramaphosa

Walkabout negotiates additional JV in Northern Ireland

By: Creamer Media Reporter      Updated 3 hours ago Australia’s Walkabout Resources has negotiated additional joint ventures (JVs) with partner Koza UK, whereby the company could earn into at least 75% in each of the Slieve Gallion and Antrim Metals JVs. The addition of these earn-in JVs will expand Walkabout’s Northern Ireland exploration... 

KAZ eyes up to 16% production growth in 2018

By: Mariaan Webb     Updated 3 hours ago London-, Kazakhstan- and Hong Kong-listed KAZ Minerals is expecting copper production growth of up to 16% in 2018, as the new Aktogay mine, in Kazakhstan, ramped up production. The company, which on Thursday reported a big jump in full-year profit, has set a production guidance of 270 000 t to... 

KAZ eyes up to 16% production growth in 2018

Carbine shares plunge on Mt Morgan warning

By: Mariaan Webb     Updated 6 hours ago Australian junior Carbine Resources said on Thursday that it would hold discussions with key stakeholders in a final attempt to improve agreement terms and operating conditions for the Mount Morgan gold project, after an economic review determined that the Queensland-based project would not... 

Preferred hydraulic mining contractors selected for Century tailings

By: Creamer Media Reporter      Updated 6 hours ago ASX-listed New Century Resources has selected Australia-based National Pump and Energy (NPE) and South Africa-based Paragon Tailings as the preferred contractors for hydraulic mining service works for the Century tailings deposit, in north-west Queensland. NPE and Paragon have proposed a... 

Beacon buys surplus process plant equipment from Kin Mining

By: Mariaan Webb     Updated 6 hours ago Gold development company Beacon Minerals on Thursday announced that it would buy several items of the mothballed Lawlers processing plant from Kin Mining to use in its Jaurdi gold project, north-west of Coolgardie, Western Australia. Beacon has executed a purchase agreement to acquire the... 

Resources Watch  

     Updated 7 hours ago This week: Gold Fields going all out to put South Deep gold mine into black And, South African foundry aims to expand footprint in North America 

Resources Watch

Strong copper price sees OZ Minerals double net profit

By: Dylan Slater     22nd February 2018 South Australia-focused miner OZ Minerals has delivered a strong operational performance in 2017, which enabled the miner to exploit improved copper prices and deliver a 114% net profit after tax increase to $231-million 

Strong copper price sees OZ Minerals double net profit
OZ Minerals CEO Andrew Cole

Kirkland Lake net earnings surge on production growth

By: Nadine James     22nd February 2018 Gold miner Kirkland Lake Gold has released strong financial and operating full year results for 2017, including a 90% increase in production and improved cash flow. The Toronto-headquartered company produced 596 405 oz in 2017, an increase of 90% from 2016, largely owing to the full-year... 

Kirkland Lake net earnings surge on production growth
FOSTERVILLE The Australian mine's mineral reserve now totals 1.7-million ounces at an average grade of 23.1 g/t

Adani may sell stake in Carmichael coal mine amid funding delay

By: Bloomberg     22nd February 2018 The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises conceded it would fail to meet a March deadline to arrange A$3-billion in financing for the project. The December decision by the Queensland government to veto Adani’s A$900-million... 

Adani may sell stake in Carmichael coal mine amid funding delay

What happens when China's steel curbs end? Here's BHP's take

By: Bloomberg     22nd February 2018 Steelmakers in China are about to get back to business full-time. When unprecedented winter supply curbs lapse in the coming weeks, BHP Billiton forecasts mills in the top producer will step up output, boosting run rates through the second quarter to make up for curtailments. The resumption will... 

What happens when China's steel curbs end? Here's BHP's take

Southern Copper says to put about $2.5bn into Michiquillay mine

By: Reuters     22nd February 2018 Southern Copper will invest about $2.5-billion in Peruvian copper project Michiquillay, with production of 225 000 t of copper per year expected to start in 2025, the company said in a statement on Wednesday. Southern Copper won a tender to develop the mine on Tuesday, in an auction that... 

BHP won't move Singapore marketing hub even if Australia cuts tax – CEO

By: Reuters     22nd February 2018 BHP Billiton will not move its low tax-paying Singapore marketing hub even if Australia goes ahead with plans to cut corporate taxes, CE Andrew Mackenzie said on Thursday. BHP's Singapore office is the focus of a long-running fight with Australia's tax office, which argues the company is... 

BHP won't move Singapore marketing hub even if Australia cuts tax – CEO
BHP CEO Andrew Mackenzie

Newmont maintains steady reserve base as resources grow

By: Henry Lazenby     22nd February 2018 NYSE-listed US gold major Newmont Mining has replaced all the gold reserves it unearthed in 2017 and managed to grow its global resource base too, it announced on Wednesday. Gold reserves now total 68.5-million ounces for 2017, unchanged from 2016 as additions and revisions fully replaced... 

New Gold beats Q4 earnings forecast as it records record output

By: Henry Lazenby     22nd February 2018 TSX- and NYSE American-listed Canadian gold producer New Gold has reported a headline profit of $32.5-million, or $0.06 a share for the three months ended December 31, as record gold output boosted the bottom line. This was a marked improvement on the miner's performance in the comparable quarter... 

Pipeline delays 'impose demonstrable, substantial economic costs on the Canadian economy' – Scotiabank

By: Henry Lazenby     22nd February 2018 The price received for Western Canadian oil will remain vulnerable to service disruptions in current transportation channels, given the excess of production over takeaway capacity up to about 2020, a new report by the Bank of Nova Scotia (Scotiabank) has found. In a report published on Tuesday,... 

Pipeline delays 'impose demonstrable, substantial economic costs on the Canadian economy' – Scotiabank

Rainbow puts focus on Gakara ramp-up, exploration

By: Simone Liedtke     21st February 2018 London-listed Rainbow Rare Earths has set the ramp-up of production at its Gakara mine, in Burundi, and the completion of the first phase drilling programme, as its priorities for the next six months. The company on Wednesday described the six months ended December 31, as "a busy and highly... 

Volumes, dollar prices keep rand at bay for divi-hoisting Assore

By: Martin Creamer     21st February 2018 Improved volumes and better dollar prices proved sufficient for mining holding company Assore to keep rand strength at bay in posting strong headline earnings growth and a sharp interim dividend increase. The company's half-year results were highlighted by a 12% rise in headline earnings, a... 

Volumes, dollar prices keep rand at bay for divi-hoisting Assore
Photo by Duane Daws
Assore CEO Charles Walters

Miners rich in cash are aiming for fat dividends, debt payments

By: Bloomberg     21st February 2018 The mining industry is awash with cash, and so far it’s got two main uses - pay down debt and reward investors. Three of the big four London-listed miners have released earnings this month, and it’s clear the companies are doing what shareholders have demanded of them.  

Alexander Mining forms partnership with Turkish firm

By: Creamer Media Reporter      21st February 2018 Aim-listed mining and mineral processing technology company Alexander Mining has executed a commercial and technical partnership agreement with Turkey’s Proses Mühendislik, Danışmanlık, İnşaat ve Tasarım (Proses), which may result in the use of the company’s proprietary processing technologies... 

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa

By: Martin Creamer     21st February 2018 Diversified mining and marketing company Glencore shot the lights out with a superlative set of 2017 results that coincided with a leap in its share price in Johannesburg, the reaffirmation of South Africa as an even more positive investment destination, and the mulling of a dividend "top up"... 

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa
Photo by Duane Daws
Flashback to Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.

Govt to fast-track finalisation of outstanding mining policy

By: Megan van Wyngaardt     21st February 2018 To take advantage of the cyclical upturn in the mining sector and improved investor sentiment to boost economic growth, government needs to finalise outstanding policy and administrative reforms. The proposed implementation of the revised Mining Charter, contested by industry and the Chamber of... 

Govt to fast-track finalisation of outstanding mining policy
Photo by Bloomberg
Finance Minister Malusi Gigaba

Gold, silver miner Hochschild eyes move into copper and zinc

By: Reuters     21st February 2018 Gold and silver miner Hochschild Mining, which has been scouting for early-stage mining projects, is interested in moving into other metals including copper and zinc, the company's chief executive said on Wednesday. Miners around the world have been looking to take advantage of demand for... 

Polymetal secures offtake for Kyzyl concentrate

By: Creamer Media Reporter      21st February 2018 LSE-listed Polymetal has secured an offtake agreement with one of its established trading partners for 50% of the forecast high-carbon concentrate production from the Kyzyl project, in north-eastern Kazakhstan, with an option to increase this to 100% of its yearly concentrate output. Polymetal... 

Amplats modernises, studies growth, advances fuel cell 

     21st February 2018 Anglo American Platinum’s Mogalakwena Platinum mine has gushed R4-billion worth of free, unfettered operating cash flow. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Amplats modernises, studies growth, advances fuel cell

Tribunal conditionally approves Timrite’s acquisition of mining support bag manufacturer

     21st February 2018 The Competition Tribunal has approved, with conditions, mining support product supplier Timrite’s acquisition of Tufbag’s Mining Bag division. Tufbag’s Mining Bag division and Timrite design and manufacture polypropylene-based mining support (PBMS) bags.   Concerns were raised by the Competition... 

Latest News  by  

more

Latest Videos and Audio

Resources Watch

Amplats modernises, studies growth, advances fuel cell

South Africa falls to small percentage of AngloGold output

Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell

Gold, platinum miners bolster business, operational plans

On-The-Air (16/02/2018)

Pipe for tailings system supplied on schedule

S African foundry aims to expand footprint in North America

more

Services News

Consulting Engineers

Contract mining

Crushing and Screening

Drilling and Tunnelling

Earthmoving

Energy Services

Explosives

Furnaces and Kilns

Material Handling

Opencast/Quarries

Pumps

Valves

Company Announcements

more

Research Reports

Projects

Press Office

more

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close