R/€ = 14.45 Change: 0.14
R/$ = 13.45 Change: 0.17
Au 1215.32 $/oz Change: -2.63
Pt 981.00 $/oz Change: 4.00

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‘Very tough’ mining year ahead as ‘lawfare’ breaks out – Nedbank

By: Martin Creamer     23rd January 2017 South African mining has a “very tough” year ahead, with "lawfare" breaking out. While existing large, powerful mining companies will persist, growth through new entrants and foreign investment is highly unlikely this year, resulting in escalating opportunity loss. 

‘Very tough’ mining year ahead as ‘lawfare’ breaks out – Nedbank
Nedbank mining finance principal Paul Miller

Despite performance improvement, Randgold deals with challenges at Kibali

By: Henry Lazenby     Updated 5 hours ago Despite dealing with certain critical issues in the Democratic Republic of Congo (DRC), Africa-focused gold producer Randgold Resources has maintained all the Kibali mine capital projects on track, the company announced Monday. The mine has dealt with a tough first half of 2016, with the Kibali... 

PTM launches $25m bought deal financing

By: Henry Lazenby     Updated 5 hours ago South Africa-focused precious metals miner Platinum Group Metals (PTM) has reached an agreement with a syndicate of underwriters led by BMO Capital Markets to raise $25-million. The Vancouver-based company had recently advised that for it to achieve positive cash flow and to maintain its working... 

Petra Diamonds on track to reach full-year production target

By: Megan van Wyngaardt     23rd January 2017 Production at FTSE 250 miner Petra Diamonds’ operations increased 24% to 2.01-million carats in the first half of the year, ended December 31, owing to a higher contribution from undiluted run-of-mine (RoM) ore leading to improved grades, and additional tailings production from its Kimberley... 

Petra Diamonds on track to reach full-year production target
Petra Diamonds CEO Johan Dippenaar

Kibo completes MCPP integrated bankable feasibility study

By: Natasha Odendaal     23rd January 2017 The positive outcome of Aim- and AltX-listed Kibo Mining’s integrated bankable feasibility study (IBFS) for the Mbeya coal-to-power project (MCPP), in Tanzania, has placed the company in “a strong position” during the ongoing discussions and negotiations for the final power purchase agreement, as... 

Edenville, Sinohydro sign MoU to codevelop Rukwa project

By: Anine Kilian     23rd January 2017 Aim-listed Edenville Energy and Chinese State-owned hydropower engineering and construction company Sinohydro Corporation have signed a memorandum of understanding (MoU) for the codevelopment of Edenville’s integrated Rukwa coal-to-power project, in western Tanzania. The MoU, which is valid for... 

Resgen updates Boikarabelo coal resource estimates

By: Megan van Wyngaardt     23rd January 2017 A recent update to the reserves estimate for dual-listed Resource Generation’s (Resgen’s) Boikarabelo coal mine has increased its measured and indicated tonnes to 994.81-million tonnes, up from the previous 664.2-million tonnes. Its marketable coal reserves, however, decreased from 430.6-million... 

Resgen updates Boikarabelo coal resource estimates

Rehabilitation work begins to prepare Highveld structural mill for restart

By: Terence Creamer     23rd January 2017 Rehabilitation work at Highveld Steel’s heavy structural mill, located at the mothballed steel plant’s expansive site in Mpumalanga, is under way to prepare the facility for recommissioning, following the conclusion of a supply and marketing deal with ArcelorMittal South Africa (AMSA) in... 

Rehabilitation work begins to prepare Highveld structural mill for restart

Egypt risks no interest in gold tender as Centamin won’t bid

By: Bloomberg     23rd January 2017 Egypt is at risk of getting no participation in its first exploration tender in gold since 2009 after Centamin, which operates the nation’s only active gold mine, Sukari, and two other companies in the country said they won’t bid. Terms being offered “result in an effective tax rate that is by... 

Egypt risks no interest in gold tender as Centamin won’t bid

Endeavour expects production to rise, costs to fall in 2017

By: Megan van Wyngaardt     23rd January 2017 West-African gold miner Endeavour Mining produced a record 583 712 oz of gold in 2016, at a low all-in sustaining cost (AISC) of around $895/oz, achieving both its ambitious production guidance of 575 000 oz to 610 000 oz and its AISC guidance of $870/oz to $920/oz for the year. This was... 

Giyani moves to delist from AltX

By: Natasha Odendaal     23rd January 2017 Dual-listed Giyani Gold is preparing to delist its secondary listing on the JSE’s AltX. The listing will be removed on February 13, with trade suspension planned for February 10. 

DiamondCorp raises £1m through share placing

By: Megan van Wyngaardt     23rd January 2017 Dual-listed Southern African diamond mining company DiamondCorp has raised proceeds of about £1-million through the placing of 25.4-million new ordinary shares at 4p apiece. The company is also issuing about 3.14-million new ordinary shares with 3.14-million attached warrants as settlement for... 

Anglo sees incremental gains as trading unit hits cruising speed

By: Reuters     23rd January 2017 Anglo American, which broke with tradition when it set up a focused commercial unit, sees modest improvements ahead after an early boost to profits, as it gets closer to clients, even offering shelter from volatile markets with fixed-price contracts. Anglo, like many miners, shied away from... 

Teck seeking infrastructure synergies with Anglo American in Chile

By: Henry Lazenby     Updated 4 hours ago Canada’s largest diversified miner Teck Resources has entered into negotiations with fellow diversified miner Anglo American about the potential of building a shared port, in Chile, where both miners are considering expansions at neighbouring copper mines. Teck is currently mulling an expansion... 

Teck seeking infrastructure synergies with Anglo American in Chile
Photo by Reuters
Teck Resources CEO Don Lindsay

Platinum price upside limited despite stronger structural demand in coming years 

By: Henry Lazenby     20th January 2017 Analysts at Bank of America Merrill Lynch (BofAML) Global Research forecast little upside for platinum despite strengthening structural demand, saying South African producers are putting more ounces on the market at a time when discipline is required. In a ‘Global Metals Weekly’ report,... 

Platinum price upside limited despite stronger structural demand in coming years

China Moly to help BHR acquire stake in Congo's Tenke copper mine

By: Reuters     23rd January 2017 China Molybdenum Co (CMOC) said on Sunday that it has signed an agreement with Chinese private equity firm BHR to support BHR's acquisition of a 24% stake in Democratic Republic of Congo's giant Tenke copper mine. CMOC says it is the majority owner of Tenke after completing a $2.65-billion... 

Jupiter prices share buyback at $0.40 a share

By: Anine Kilian     23rd January 2017 Australian mining company Jupiter Mines plans to redistribute $55-million to its shareholders through an equal-access share buyback. All Jupiter shareholders will be made an equal offer to buy back 6% of their shares at $0.40 a share. 

Birimian cancels Mali project sale to Chinese

By: Esmarie Swanepoel     23rd January 2017 Minerals explorer Birimian has terminated a A$107.5-million agreement with Shandong Mingrui Group for its Bougouni lithium project, in Mali. Birimian earlier this month signed a letter of intent with Shandong, under which the Chinese company would obtain the Bougouni project, subject to a number... 

Czech industry minister to propose buying OKD mines for symbolic price

By: Reuters     23rd January 2017 Czech Industry Minister Jan Mladek said on Monday he would propose state miner Diamo buy hard coal mining group OKD, the insolvent unit of New World Resources (NWR), for the symbolic price of 1 crown ($0.0397). Mladek added he would still prefer a private buyer take over the OKD mines, a major... 

Prairie says Poland mine’s maiden resource declaration imminent

By: Megan van Wyngaardt     23rd January 2017 Dual-listed Prairie Mining expects to declare a maiden Joint Ore Reserves Committee-compliant resource estimate at its Debiensko hard coking coal project, in Poland, in the coming weeks, after it received the results of preliminary coal quality analysis from a borehole drilled at the project. The... 

Northern Dynasty says it has Trump backing, seeking new partner

By: Bloomberg     Updated 47 minutes ago Northern Dynasty Minerals expects to resolve a dispute with the US environmental regulator by April to enable it to move ahead with permitting one of the world’s largest undeveloped copper and gold deposits. US President Donald Trump’s administration has “a desire to permit Pebble,” the company’s... 

Cimic continues on acquisition trail with Macmahon bid

By: Mariaan Webb     Updated 49 minutes ago Contracting group Cimic on Tuesday unveiled a planned takeover of Perth-based project house Macmahon, only months after it made a bid for engineering firm UGL. Cimic advised Macmahon shareholders that it intended to offer A$0.145 a share for all the shares that it did not already own in the... 

Exploration by proxy to feed Goldcorp’s project pipeline

By: Henry Lazenby     Updated 1 hour 59 minutes ago The reserves of the world’s top-producing gold miners have decreased by about one-third over the last five years, a situation that has to be reversed if the industry is to maintain its attractiveness to investors, Goldcorp president and CEO David Garofalo said Monday. Delivering a keynote address... 

Exploration by proxy to feed Goldcorp’s project pipeline
Photo by Bloomberg
Goldcorp president and CEO David Garofalo

‘Volatility is the new normal’ – Teck CEO's plan to create certainty

By: Henry Lazenby     Updated 3 hours ago Commodity price volatility is the new normal as the mining industry cautiously optimistically welcomes the start of a new progressive price cycle. “The fact that volatility is the new normal is unfortunate, but real, and we have to deal with that to create certainty. We are seeing higher highs... 

Atlas Iron in ‘stronger position’ – Lawrenson

By: Mariaan Webb     Updated 3 hours ago Western Australian iron-ore miner Atlas Iron is in a “significantly stronger position” and on track to be in a net cash position by mid-2017, new MD and CEO Cliff Lawrenson said on Tuesday, reporting on the company’s December quarter performance. Atlas, which earlier this month repaid... 

Sandfire eyes growth as clears its debt ahead of schedule

By: Mariaan Webb     Updated 3 hours ago Copper and gold miner Sandfire Resources has elected to repay its debt nearly 12 months ahead of schedule, freeing up significant cash flow to pursue growth opportunities in Australia and North America. A strong cash position of A$10.7-million and rising copper prices have enabled Sandfire to... 

Sandfire eyes growth as clears its debt ahead of schedule
Sandfire CEO Karl Simich

London Metal Exchange CEO resigns after a difficult year

By: Reuters     23rd January 2017 Lower trading volumes and a lack of strategy created a crisis that led to the resignation of London Metal Exchange (LME) CEO Garry Jones after three years at the helm of the world's largest and oldest metals market, metal industry sources say. Parent company Hong Kong Exchanges and Clearing... 

Chile sees copper output rising 4.3% this year

By: Reuters     23rd January 2017 World top copper exporter Chile is seen producing 5.79-million tonnes in 2017, a 4.3% increase versus a year earlier, due to increased output at BHP Billiton's massive Escondida mine, state copper commission Cochilco said on Monday. Copper production in Chile is forecast to grow by an additional... 

State agreement signed for A$5.6bn Pilbara iron-ore export facility

By: Esmarie Swanepoel     23rd January 2017 The Western Australian government has committed to a state agreement with the Balla Balla Infrastructure Group (BBIG), which is planning a A$5.6-billion integrated iron-ore project in the Pilbara. The BBIG, which is 90% held by Todd Corporation, is planning to construct an export facility between... 

State agreement signed for A$5.6bn Pilbara iron-ore export facility

Gruyere gold project gains WA environmental approval

By: Esmarie Swanepoel     23rd January 2017 Western Australian Environment Minister Albert Jacob has approved the development of the Gruyere gold project, which is a joint venture (JV) between Australia’s Gold Road and South Africa’s Gold Fields, north-east of Laverton. “Achieving environmental approval is an important milestone and... 

Gold rises to two-month high on Trump policy uncertainty, dollar drop

By: Reuters     23rd January 2017 Gold prices rose on Monday to the highest in two months as investors sought safer assets amid uncertainty around the economic policies of new US President Donald Trump and as the dollar declined against other major currencies. Spot gold rose 0.7%, to $1 217.81/oz by 03:03 GMT. It earlier touched... 

India to ensure higher iron-ore availability for domestic steel producers

By: Ajoy K Das     23rd January 2017 The Indian government is planning several measures to alleviate raw material supply issues experienced by steel producers, including stepping up iron-ore mine auctions, earmarking a portion of domestic iron-ore production for local steel mills and reforming the ‘inverted import duty’ structure.... 

Blackham eyes expanded operations at Matilda

By: Esmarie Swanepoel     23rd January 2017 ASX-listed Blackham Resources is considering doubling the processing capacity at its Matilda/Wiluna gold project, in Western Australia, on the back of an increase in the operation's mineral resource. The resource at Matilda/Wiluna had grown to 6.4-million ounces, with some 3.1-million ounces... 

Tarcoola trucks first ore

By: Esmarie Swanepoel     23rd January 2017 ASX-listed WPG Resources has trucked its first ore from its Tarcoola gold mine, in South Australia, to the Challenger project, for treatment. The truck haulage was initially planned for mid-December, but was delayed by nearly a month, owing to the need for additional approvals unrelated to the... 

Havilah's plans to expand Portia approved

By: Esmarie Swanepoel     23rd January 2017 Gold junior Havilah Resources has received approval from the Department of State Development to mine the southern and northern extensions of its Portia gold mine, in South Australia. The approval will allow the 120 m southern cutback to immediately proceed, and will extend the Portia mine life by... 

Holiday on ice as coal mines get skates on to beat Beijing curbs

By: Reuters     23rd January 2017 Chinese coal miners are so determined to cash in on a window of high prices that many are slashing holiday leave for workers and raising pay through the Lunar New Year celebrations before government introduces limits on output again. Prices in China, the world's biggest coal user, have slipped... 

Trump aides said to prepare list of early energy changes

By: Bloomberg     21st January 2017 Donald Trump’s advisers have prepared a short list of energy and environmental policy changes he can take now that he has been sworn in as president, including steps to limit the role that climate change plays in government decisions and speed the review of cross-border pipelines. The list of... 

Trump aides said to prepare list of early energy changes
Photo by Reuters
US President Donald Trump being sworn in

PEA places Mariana’s Hot Maden in world-class league

By: Henry Lazenby     21st January 2017 Aim- and TSX-quoted exploration and development company Mariana Resources this week announced the positive results of a preliminary economic assessment (PEA) for its flagship Hot Maden project in Turkey, touting a net present value, at a 10% discount, of about $1.4-billion. "The potential value... 

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