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Rockwell subsidiaries sale still on the table

By: Henry Lazenby     16th January 2018 A two-pronged purchase offer by Ascot Diamonds to acquire the three bankrupt South African subsidiaries, and later, a Cayman-based entity of Canadian miner Rockwell Diamonds is still a viable solution to achieve a sale transaction and therefore, a higher recovery value for creditors, Rockwell... 

Rockwell subsidiaries sale still on the table

DNI inks flake graphite offtake deal with Korea Graphite

By: Henry Lazenby     16th January 2018 Madagascar-focused graphite project developer DNI Metals has signed a binding supply agreement with ASX-listed Peninsula Mines’ subsidiary Korea Graphite to supply up to 24 000 t/y of flake graphite, the company announced on Monday. The deal is subject to Korea Graphite finalising offtake... 

Investors can't get enough of palladium as supply shortage looms

By: Bloomberg     Updated 1 hour 29 minutes ago Last year’s best-performing commodity hasn’t lost its touch. Spot palladium prices have soared above a record that stood for 17 years. That followed its best year since 2010 on growing demand from carmakers for the metal used to reduce vehicle pollution. While palladium’s supported by a lack of... 

Investors can't get enough of palladium as supply shortage looms

Only four diamonds are bigger than one just found at famed mine

By: Bloomberg     Updated 1 hour 14 minutes ago A small, embattled diamond miner just hit the jackpot. The 910-carat stone found by Gem Diamonds Ltd. high in the mountains of Lesotho in southern Africa is the fifth-largest in history. Here are the bigger ones: THE CULLINAN DIAMOND 

Only four diamonds are bigger than one just found at famed mine
Lucara Diamond Corp's 1 109 ct Lesedi la Rona diamond

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Gem discovers 910 ct diamond

By: Anine Kilian     15th January 2018 LSE-listed Gem Diamonds has recovered a 910 ct, D colour Type IIa diamond from its Lesotho-based Letšeng mine. The diamond, the largest recovered from the mine, is believed to be the fifth-largest gem-quality diamond ever recovered. 

Gem discovers 910 ct diamond
Clifford Elphick

Acacia’s Q4 gold production slumps on export ban

By: Mia Breytenbach     15th January 2018 While LSE-listed Acacia Mining’s gold production for the fourth quarter in 2017 was slightly ahead of expectations at 148 477 oz, it was 30% lower quarter-on-quarter as a result of its flagship Bulyanhulu gold mine in Tanzania having downscaled operations. The miner’s decision to reduce... 

Caledonia reaches record production at Blanket mine

By: Anine Kilian     15th January 2018 Aim-listed Caledonia Mining has reported record gold production from its Zimbabwe-based Blanket mine for the quarter ended December 31, 2017. Production for the period totalled 16 425 oz of gold, a 14% increase on the previous quarter, and 21% higher than a year ago. 

Base Resources’ Toliara Sands project now unconditional

By: Anine Kilian     15th January 2018 ASX- and Aim-listed mineral sands producer Base Resources on Monday reported that the acquisition agreement pertaining to the Madagascar-based Toliara Sands project is now unconditional.  The acquisition of Base’s initial 85% interest in the wholly owned Mauritian subsidiaries of World Titane... 

Jubilee acquires 29% stake in BMR

By: Creamer Media Reporter      15th January 2018 Alt-X- and Aim-listed Jubilee Metals Group has acquired a 29.01% interest in the enlarged issued share capital of BMR Group for £500 000 cash and the issue of 63-million new ordinary shares of Jubilee. The acquisition increases Jubilee’s effective interest in the Zambian Kabwe project to 57.41%,... 

Zimbabwe state diamond company to lift output 65% in 2018 – Minister

By: Reuters     15th January 2018 Zimbabwe’s state diamond company is expected to produce at least 3 million carats this year, up 65 percent from 1.8 million in 2017, the mines minister told parliament on Monday. Winston Chitando said the Zimbabwe Consolidated Diamond Company, which was formed in 2016 when the government banned... 

Zimbabwe state diamond company to lift output 65% in 2018 – Minister

Ian Harebottle appointed Kropz CEO

By: Anine Kilian     15th January 2018 South Africa-based plant nutrient company and miner of fertiliser feed materials Kropz has appointed Ian Harebottle as group CEO. Harebottle, who stepped down as CEO of Aim-listed Gemfields in July last year, will join Kropz on March 28, once his contract with the diamond miner has ended.   “I am... 

Ian Harebottle appointed Kropz CEO
Ian Harebottle

Palladium bulls rule as prices hit record on tight supply

By: Bloomberg     15th January 2018 Palladium bulls are having a party. The metal used to curb pollution from gasoline-fueled engines climbed to a record in the spot market amid signs of robust demand. In China, Honda Motor Co.’s vehicle sales climbed 16% to a record last year. General Motors Co.’s sales in the Asian nation, the... 

Metals power higher as sickly dollar spurs copper-to-gold rally

By: Bloomberg     15th January 2018 Copper jumped by the most in two months and zinc hit a fresh decade-high as base metals rallied on a potent combination of a softer dollar and continued robust outlook for demand. Gold and palladium also climbed. Copper surged as much as 2.1%, the most since November 13, to $7 259 a metric ton... 

Metals power higher as sickly dollar spurs copper-to-gold rally

Glencore shrinks job of billionaire copper head amid Congo probe

By: Bloomberg     15th January 2018 Glencore reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management. Mistakidis, one of Glencore’s largest shareholders and a key lieutenant of CEO Ivan... 

Perseus set for first gold pour at Sissingué ahead of schedule

By: Natasha Odendaal     15th January 2018 First gold from dual-listed Perseus Mining’s Sissingué gold mine, in Côte d’Ivoire, is now expected by the end of January, ahead of schedule, with ramp up to full-scale commercial production expected to be achieved by March 31. This followed the introduction of crushed ore to the mill and the... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

By: Henry Lazenby     13th January 2018 Canadian gemstone-focused miner Fura Gems is setting up a single-stop destination in Dubai, where rubies and emeralds produced from its Mozambique and Colombian assets will be graded and sold at the Almas Tower. “The Almas Tower is arguably one of the most secure spaces in the world, from where... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

Bernard Olivier appointed as Mustang MD

By: Megan van Wyngaardt     15th January 2018 ASX-listed Mustang Resources has appointed' Dr Bernard Olivier to its board as MD, and has created a new position of COO, which is filled by Cobus van Wyk. Olivier has stepped into the position that Christiaan Jordaan vacated in November. 

Search for space water heats up with Planetary’s Arkyd-6 satellite launch

By: Henry Lazenby     12th January 2018 Space mining hopeful Planetary Resources has successfully launched its latest satellite, the Arkyd-6 – a 6U CubeSat – containing a demonstration of technology designed to detect water resources in space. Planetary reported that the team has already started receiving telemetry from the spacecraft,... 

Australia’s Vimy maintains positive view on uranium

By: Mariaan Webb     Updated 11 minutes ago Perth-based uranium mining hopeful Vimy Resources is maintaining a positive view on the uranium market and will “actively and energetically” engage in contract negotiations this year, to underpin financing for a new mine in the Great Victoria desert of Western Australia. The company, which is... 

Australian LNG exports surge on strong Chinese demand

By: Megan van Wyngaardt     Updated 1 hour 28 minutes ago Australian liquefied natural gas (LNG) exports hit 56.8-million tonnes last year, jumping 26.3% from 44.9-million in 2016, owing to a watershed year of exports to China. Combined with higher oil prices, the increase in volumes pushed up Australia’s 2017 LNG export revenue by 44.1% to... 

Australian LNG exports surge on strong Chinese demand
The Pluto LNG plant, in Western Australia.

Thor welcomes new investment into US Lithium

By: Natasha Odendaal     Updated 1 hour 31 minutes ago Dual-listed Thor Mining’s 25% stake in soon-to-be-ASX-listed US Lithium has been diluted to 20.83% on the back of a capital raise at a substantial premium. Thor in June last year acquired 2.5-million shares in the company, which held lithium exploration interests in Arizona and New Mexico, in the... 

Rio Tinto 2017 iron-ore exports up 1%, maintains 2018 guidance

By: Reuters     16th January 2018 Global miner Rio Tinto, on Tuesday reported a 1% rise in iron-ore shipments for 2017 to 330.1-million tonnes, meeting its guidance. The world's No 2 miner of iron-ore, a raw material in steelmaking, also stuck to a target of 330-million to 340-million tonnes for this year, but cautioned the... 

Rio Tinto 2017 iron-ore exports up 1%, maintains 2018 guidance

Brazilian miner Vale ordered to repair environmental damage

By: Reuters     16th January 2018 A Brazilian court on Monday ordered the world's largest iron-ore miner Vale to repair environmental damages its operations caused in land belonging to a community of descendants of escaped slaves in northern Brazil. Federal prosecutors announced the ruling in a statement that said the electricity... 

Orefinders PEA reports positive economics for Ontario’s Mirado gold mine

By: Henry Lazenby     15th January 2018 Canadian Stock Exchange-listed junior project developer Orefinders Resources has released strong economic results contained in a preliminary economic assessment (PEA) for the South Zone openpit, which is part of the Mirado gold mine, located to the southeast of Kirkland Lake, Ontario. Nestled... 

Tahoe fires 25% of Escobal workforce as Guatemala court process dawdles

By: Henry Lazenby     15th January 2018 TSX- and NYSE-listed Tahoe Resources, whose flagship Escobal mine, in Guatemala, continues to languish in care and maintenance following a court-ordered suspension of its mining permit in July 2017, has moved to reduce the mine’s workforce by 25%, the miner announced on Monday. The... 

RNC in talks with financiers, market participants for Dumond construction decision by 2019

By: Henry Lazenby     15th January 2018 Diversified Canadian miner RNC Minerals is engaging a number of potential strategic investors, offtake partners and financiers who could provide the $1.3-billion capital financing required to start construction of the shovel-ready Dumont nickel/cobalt project, in the Abitibi region of Quebec. The... 

RNC in talks with financiers, market participants for Dumond construction decision by 2019
Photo by RNC Minerals
Dumont nickel buttons

Harvest to expand Arapua fertiliser capacity

By: Henry Lazenby     15th January 2018 Brazil-focused fertiliser producer Harvest Minerals is planning a significant expansion at its Arapua fertiliser project, with the addition of four knife mills and associated infrastructure that will push production capacity above the 320 000 t/y level. The LSE Aim-listed company announced on... 

Condor assumes trading on TSX main board

By: Henry Lazenby     15th January 2018 Nicaragua-focused project developer Condor Gold has taken up a dual listing on the TSX starting on Monday morning, signifying a significant milestone for the company to provide a local trading platform for the company’s Canadian investors. Dovetailing with Condor’s existing LSE Aim and OTCQX... 

CAML's copper output at top-end of guidance

By: Mariaan Webb     15th January 2018 The Kounrad copper operation, in Kazakhstan, has delivered at the top-end of its guidance and production from the Sasa zinc/lead mine, in Macedonia, was also in line with expectations, Aim-listed Central Asia Metals (CAML) reported on Monday. The Kounrad dump leach, solvent extraction and... 

China's State-owned coal firms target 12.65Mt of capacity cuts – Xinhua

By: Reuters     15th January 2018 China's central government-owned enterprises will target coal capacity cuts of 12.65-million tonnes in 2018, the official Xinhua news agency reported on Monday. The Xinhua report, which followed a meeting of the heads of companies controlled by China's State-owned Assets Supervision and... 

Greatland shares in free fall on Newmont's exit from Australia project

By: Mariaan Webb     15th January 2018 Shares in Aim-listed junior Greatland Gold fell sharply on Monday, as the precious and base metals firm announced that Newmont Mining had pulled out of the Ernest Giles project, in Western Australia. Greatland said in a market announcement that Newmont would not be proceeding with the Ernest... 

Polyus says $887m deal with China’s Fosun dropped

By: Mariaan Webb     15th January 2018 Russia's Polyus said on Monday that an agreement to sell a 10% stake in the company to a consortium led by China’s Fosun International had been terminated. A condition precedent to the transaction was not met, following which the agreement to sell 12 561 686 of the ordinary shares in Polyus for... 

Polyus says $887m deal with China’s Fosun dropped

Blackham secures $14.3m loan from key mining contractor Maca

By: Natasha Odendaal     15th January 2018 ASX-listed Maca on Monday provided a secured $14.3-million loan, on commercial terms, to support the recapitalisation of Blackham Resources. The proceeds of the loan have been applied by Blackham to repay the Orion mine finance term loan, which was due to mature on December 31, and subsequently... 

India’s draft national mineral policy proposes exploration incentives

By: Ajoy K Das     15th January 2018 India’s Mines Ministry has unveiled the draft National Mineral Policy (NMP) 2018, which proposes to offer mineral exploration companies the right of first refusal at the auction of any area explored by them. The draft NMP, which is now open for feedback from industry and stakeholders, maintains... 

GMEL looking to simplify refining at Kvanefjeld rare earths project

By: Megan van Wyngaardt     15th January 2018 A technical optimisation programme, currently being undertaken at the Kvanefjeld project, in Greenland, has identified significant improvements at the project, Greenland Minerals and Energy (GMEL) reported on Monday. The optimisation programme, which is being carried out in collaboration with... 

Triton starts due diligence on WA lithium asset acquisition

By: Natasha Odendaal     15th January 2018 ASX-listed Triton Minerals on Monday said it had started due diligence on the Western Australia lithium assets and royalties that it planned to acquire from Westgold Resources. The Australian company in December entered into an option agreement with Westgold for a package of lithium assets in the... 

Centrex says Ardmore phosphate study shows strong returns

By: Natasha Odendaal     15th January 2018 A scoping study for the Ardmore phosphate project, in north-west Queensland, has revealed strong potential returns and further cemented conceptual economics, ASX-listed Centrex Metals said on Monday. The company, which acquired the project in June 2017, has been focused on developing a phosphate... 

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