https://www.miningweekly.com
R/€ = 20.62 Change: -0.03
R/$ = 17.41 Change: 0.02
Au 1939.92 $/oz Change: 8.61
Pt 944.34 $/oz Change: 5.22
 
Close

Email me free daily news

Email address

Proposed mining tax amendments could have far reaching, unintended consequences, says firm  

By: Simone Liedtke     Updated 5 hours ago In line with announcements made by National Treasury in the 2020 Budget Review in February, the 2020 Draft Taxation Laws Amendment Bill (DTLAB) proposes amendments to the Income Tax Act (ITA) with the aim of limiting the entitlement to the favourable mining capital expenditure (capex) allowance... 

Renmere director Neethling van Heerden discusses the proposed amendments to the 2020 Draft Taxation Laws Amendment Bill (DTLAB) in respect of the mining capital expenditure (capex) allowance. Video: Recorded via Zoom. Editing: Creamer Media’s Nicholas Boyd.

Sibanye's interim earnings boosted by higher prices, weaker dollar  

By: Marleny Arnoldi     14th August 2020 JSE- and NYSE-listed platinum group metals (PGMs) and gold miner Sibanye-Stillwater has advised it expects a 3.7% increase year-on-year in basic earnings to R9.3-billion, or $563-million, for the six months ended June 30. Basic earnings a share should be about 351c, or $0.21, apiece.  

Sibanye's interim earnings boosted by higher prices, weaker dollar
Sibanye's Driefontein gold mine

Sibanye hosts Marikana memorial lecture  

By: Marleny Arnoldi     Updated 3 hours ago JSE-listed precious metal miner Sibanye-Stillwater on August 14 hosted a memorial lecture honouring the 44 people who were killed in the Marikana shooting tragedy in August 2012. Sibanye CEO Neal Froneman says the shadow cast by the Marikana tragedy remains to this day and adds that the... 

Eskom force majeure notification withdrawn with immediate effect, says Exxaro

By: Tasneem Bulbulia     Updated 3 hours ago JSE-listed Exxaro Resources has received a notice from State-owned power utility Eskom advising that the force majeure event on the agreements for the supply of coal from Exxaro Coal to the Medupi and Matimba power stations has been withdrawn with immediate effect. As Eskom has been taking coal... 

Lucapa defers debt repayments

By: Esmarie Iannucci     14th August 2020 Diamond miner Lucapa has struck an agreement with its major financiers and shareholders Equigold and New Azilian, as well as the external financier for the Mothae project, the Industrial Development Corporation of South Africa, to defer some $13-million in loan repayments from 2020 and 2021, to... 

Contango signs letter of intent towards 30 000 t coal offtake

By: Marleny Arnoldi     14th August 2020 London-listed Contango Holdings has signed a letter of intent (LoI) with South Mining relating to an offtake agreement for coal products produced at the company’s Lubu coalfield project, in Zimbabwe. The LoI establishes the framework for formal offtake documentation to be advanced between... 

West Wits raises funds for South African project

By: Esmarie Iannucci     14th August 2020 Junior West Wits Mining will raise A$3.4-million from a share placement to sophisticated and professional investors to fund feasibility studies and drilling at its Witwatersrand Basin gold project, in South Africa. The company on Friday announced that it would issue more than 161.94-million new... 

Metals showing signs of recovery, says S&P Global Market Intelligence 

By: Tasneem Bulbulia     Updated 4 hours ago It has been a volatile time for the metals market, as a result of the dire state of the global economy amid the Covid-19 pandemic; however, the performance of metals in the second quarter points to signs of some recovery, speakers indicated during S&P Global Market Intelligence’s state of the... 

WFDB, IDMA announce pioneer virtual World Diamond Congress

By: Tasneem Bulbulia     Updated 3 hours ago   The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have announced that the next World Diamond Congress will be held in a virtual format on September 14 and 15. 

Master Drilling expects to report lower earnings

By: Simone Liedtke     Updated 4 hours ago Drilling contractor Master Drilling expects its headline earnings per share (HEPS) for the six months ended June 30  to be between 49.5c and 57.2c a share, which will be between 25.5% and 35.5% lower year-on-year. Earnings per share (EPS) for the six months are expected to be between 46.2c and... 

Jervois set to resume drilling activities at Ugandan project

By: Simone Liedtke     Updated 7 hours ago ASX- and TSX-V-listed Jervois Mining will restart drilling activities at its Kilembe area properties, in western Uganda, following a hiatus as a result of Covid-19-related restrictions. Jervois said on August 14 that it had received word from the government of Uganda that it would shortly receive... 

Iluka reports tough first half

By: Esmarie Iannucci     14th August 2020 Mineral sands miner Iluka has seen revenues and profits decline in the six months ending June, as sales volumes for the interim period were impacted by the Covid-19 pandemic. “Iluka has reported a solid first half result given the impact of Covid-19 on zircon and titanium markets, and the global... 

Imperial field crews discover new areas of scandium at Crater Lake

By: Mariaan Webb     Updated 3 hours ago TSX-V-listed Imperial Mining is mobilising drill crews to the Crater Lake project, in Quebec, after field crews conducting mapping and sampling discovered several new areas of scandium mineralisation on the Crater Lake project. These new showings lie within the same 14-km arcuate magnetic trend... 

China approves coal merger to create new mining giant

By: Bloomberg     Updated 4 hours ago China has approved a merger of two coal miners to create a new giant in the world’s top producer and consumer of the fuel. Yankuang Group’s merger with fellow miner Shandong Energy Group, which was announced in July, has been approved by authorities, a Hong Kong-listed unit of Yankuang said... 

Relief measures for Nunavut mineral leases announced

By: Creamer Media Reporter      Updated 4 hours ago The government of Canada is giving mineral lease holders in Nunavut an extra six months to pay rent on leases that became due during the Covid-19 pandemic. This applies to mineral leases on Crown lands that fall under the Nunavut Mining Regulations and become due between March 13, 2020 and... 

Orla receives key permit for Mexico project

By: Creamer Media Reporter      Updated 4 hours ago The Mexican federal environmental department has approved Toronto-listed Orla Mining’s environmental impact statement, or MIA, which is required for the development of the Camino Rojo oxide gold project. The receipt of the MIA also satisfies one of the key conditions precedent to the drawdown of... 

Condor continues to progress Nicaragua project

By: Tasneem Bulbulia     Updated 4 hours ago Dual-listed Condor Gold recorded considerable progress towards advancing its La India project, in Nicaragua, towards a construction decision, chairperson and CEO Mark Child said on Friday. He said that company’s focus during the first six months of the year had been two-fold – fulfilling... 

Bridgewater hedge fund boosts gold ETF investment to over $1bn

By: Reuters     Updated 7 hours ago Hedge fund Bridgewater Associates raised its investment in gold-backed exchange-traded funds by a third in the second quarter, buying the equivalent of 170 000 ounces of gold worth $340-million at current prices, a regulatory filing showed. The move is part of a wider rush among investors to buy... 

Philippine nickel miners see 2020 back on track after virus hit H1 sales

By: Reuters     Updated 7 hours ago The two biggest nickel miners in the Philippines do not expect further major disruptions to their operations this year, after posting lower first-half ore sales due to lockdown measures aimed at containing the coronavirus. Since neighbouring Indonesia banned nickel ore shipments at the start of... 

Coronavirus pushes Q2 net profit of Russian diamond miner Alrosa down 98%

By: Reuters     14th August 2020 Russian State-controlled diamond producer Alrosa said on Friday that its second-quarter net profit fell by 98% year on year to 300-million roubles ($4-million) as the novel coronavirus outbreak hit demand for precious stones. The global diamond supply chain has been convulsed by the pandemic,... 

Coronavirus pushes Q2 net profit of Russian diamond miner Alrosa down 98%

Berkeley one permit away from building uranium mine in Spain

By: Creamer Media Reporter      14th August 2020 Australia-listed Berkeley Energia is one permit away from starting full construction of the four-million-pound-a-year Salamanca uranium mine, in Spain. The company this week announced that the Municipality of Retortillo had granted its urbanism licence (UL), which is the land use permit needed... 

Codelco CEO sees copper price steady at $2.80/lb through 2020

By: Reuters     14th August 2020 Codelco CEO Octavio Araneda said on Thursday he expects the copper price to hold at around $2.80/lb through 2020. Araneda, who has led Codelco through the coronavirus crisis in Chile, told reporters on a tour of the El Teniente mine that uncertainty still reigned. The copper price "depends on... 

Atico inks power agreement in Ecuador

By: Creamer Media Reporter      14th August 2020 Latin America-focused Atico Mining has sealed a power agreement with Ecuadorian national electricity company CNEL, which CEO Alain Bureau describes as a major milestone for the La Plata project. The power agreement confirms the collaboration between Compañía Minera La Plata, the local subsidiary... 

Australian mining M&A dropped in the June quarter

14th August 2020 Merger and acquisition (M&A) transactions in the Australian metals and mining industry reached $681.76-million in the second quarter of 2020, new analysis from GlobalData has shown. The value marked an increase of 1.6% over the previous quarter and a drop of 51.5% when compared with the last... 

Kirkland Lake sells shares in Osisko and Novo

By: Creamer Media Reporter      14th August 2020 Gold mining company Kirkland Lake on Thursday announced that it had disposed of its shareholding in Osisko Mining and that it had reduced its interest in Novo Resources. The company, which trades in the Toronto, New York and Sydney, sold 32 627 632 common shares of Osisko through the facilities... 

Vale board approves $1.5bn iron-ore expansion project

By: Mariaan Webb     14th August 2020 The board of iron-ore major Vale on Thursday approved the Serra Sul 120 project, which will increase the S11D mine-plant capacity by 20-million tonnes to 120-million tonnes a year. The project, located in the municipality of Canaã dos Carajás, would require $1.5-billion in investments over... 

Vale board approves $1.5bn iron-ore expansion project

Heron launches review of Woodlawn

By: Esmarie Iannucci     14th August 2020 ASX-listed Heron Resources has started a strategic process for its Woodlawn zinc/copper project, in New South Wales, to explore various options for the mine, including refinancing, joint venture and either a partial or complete divestment. Operations at Woodlawn were suspended in March this year... 

Australian billionaire woos Canadians, hoping to build big coal mine in Rocky Mountains

By: Reuters     14th August 2020 Australian mining magnate Gina Rinehart's Hancock Prospecting is hoping a charm offensive, from annual fundraising parties to local refurbishments at a golf course, will help overcome opposition to a massive new coal mine in Canada’s Rocky Mountains. Hancock unit Riversdale Resources’ Grassy... 

Australian billionaire woos Canadians, hoping to build big coal mine in Rocky Mountains
Gina Rinehart

Pebble owners support call for IG review of Army Corps permitting

By: Mariaan Webb     14th August 2020 Toronto-listed Northern Dynasty is supporting calls for an Inspector General (IG) review of the US Army Corps of Engineers’ (USACE’s) conduct in the Pebble project permitting process. “Bring it on – we have everything to gain and absolutely nothing to lose,” said Northern Dynasty president and... 

Pebble owners support call for IG review of Army Corps permitting
The proposed mine will be located within two watersheds that feed fish-spawning rivers.

Bauxite Hills shutting earlier than anticipated

By: Esmarie Iannucci     14th August 2020 Bauxite miner Metro Mining on Friday announced that it would bring forward its wet-season shutdown at the Bauxite Hills mine, in Cape York, as the company failed to secure offtake for the remainder of the year. Mining is starting to wind down and shipping will cease around September 15, the... 

Calibre buys 70% of Eastern Borosi from Iamgold

By: Mariaan Webb     14th August 2020 Canada-listed gold mining and exploration company Calibre has announced that it will buy joint venture (JV) partner Iamgold’s 70% interest in the Eastern Borosi gold/silver property, which it sees as the next potential “spoke” in its “hub-and-spoke” operating philosophy. Calibre, which operates... 

Calibre buys 70% of Eastern Borosi from Iamgold

Export volumes, ferrochrome, Mponeng Mine make headlines  

14th August 2020 Mining Weekly Editor Martin Creamer unpacks the country’s mine export values and volumes; ferrochrome doing well with worldwide demand; and the transfer of the Mponeng Gold Mine to Harmony Gold, which is in the hands of the Department of Mineral Resources and Energy. 

Export volumes, ferrochrome, Mponeng Mine make headlines

Newcrest sees profits rise on higher gold price

By: Esmarie Iannucci     14th August 2020 Higher realised gold prices has seen major Newcrest Mining report a 5% increase in revenue for the full year ended June, despite a 13% drop in gold production. The miner on Friday reported that gold production for the full year reached 2.1-million ounces, down from the 2.4-million delivered in... 

Newcrest sees profits rise on higher gold price

DMRE says Mantashe's withdrawal of appeal paves the way for certainty

By: Tasneem Bulbulia     13th August 2020 The decision by Mineral Resources and Energy Minister Gwede Mantashe to withdraw his appeal to the Supreme Court of Appeal against an April 2018 ruling by the High Court in relation to the (now repealed) Broad-Based Socio-Economic Empowerment Charter for the South African Mining and Minerals... 

Armadale begins assessment of Mahenge natural flake graphite for battery applications

By: Tasneem Bulbulia     13th August 2020 Aim-listed Armadale Capital has started testing, in collaboration with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), the natural flake graphite produced at Armadale's 100%-owned Mahenge graphite project, in south-east Tanzania, for battery applications. This... 

SRK's Roger Dixon receives Brigadier Stokes award

By: Marleny Arnoldi     13th August 2020 Well-respected mining figure and consultant Roger Dixon has been honoured with the 2020 Brigadier Stokes award by the Southern African Institute of Mining and Metallurgy. He received the award during an online annual general meeting of the institute on August 13.  

SRK's Roger Dixon receives Brigadier Stokes award
Well-respected mining figure and consultant Roger Dixon

SANEDI, MDA work together to support South African mineworkers

By: Simone Liedtke     13th August 2020 The South African National Energy Development Institute (SANEDI) and the Mineworkers Development Agency (MDA) have signed a partnership agreement that will result in them collaborating to bring relief to the country’s former mineworkers and their communities in the wake of mine closures and the... 

South Africa's mining output down 28.2% in June

By: Marleny Arnoldi     13th August 2020 Statistics South Africa has reported that mining production decreased by 28.2% year-on-year in June. The largest negative contributors were platinum-group metals, with output down 42.5% and contributing -10.6 percentage points; and iron-ore, with output down 54.2% and contributing -6.7... 

Latest News  by  

more

Company Post

more

Latest Videos and Audio

Proposed mining tax amendments could have far reaching, unintended consequences, says firm

On-The-Air (14/08/2020)

Export volumes, ferrochrome, Mponeng Mine make headlines

South Africans must work together on an accelerated economic recovery plan – Exxaro

Awesome new proudly South African face mask kindling international interest

Resources Watch

On-The-Air (07/08/2020)

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

 

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
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Close