R/€ = 16.20 Change: -0.12
R/$ = 14.35 Change: -0.03
Au 1388.30 $/oz Change: 44.82
Pt 807.16 $/oz Change: 5.47

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Minergy appoints CEO-designate 

By: Martin Creamer     20th June 2019 The Botswana Stock Exchange-listed Minergy on Thursday announced that its CFO Morne du Plessis had been appointed CEO-designate and would take over the reins of the coal mining and coal trading company on August 1. This follows last month’s announcement that current Minergy CEO Andre Bojé, 63,... 

Minergy appoints CEO-designate
Minergy CEO-designate Morne du Plessis

Mercuria, South African firms place bids for South32's SAEC coal mines 

By: Reuters     Updated 6 hours ago Seriti Resources and a consortium backed by global energy trader Mercuria are among up to six groups to have submitted final bids for the South African coal assets of South32, four sources familiar with the matter told Reuters. A consortium backed by South African miner Exxaro Resources dropped... 

Mercuria, South African firms place bids for South32's SAEC coal mines

Pro Civil to buy Gem’s Ghaghoo mine 

By: Simone Liedtke     20th June 2019 LSE-listed Gem Diamonds has entered into a binding agreement with Pro Civil for the sale of 100% of the share capital of Gem Diamonds Botswana (GDB), which holds the Ghaghoo diamond mine, which has been on care and maintenance since March 2017. Under the share sale agreement, Pro Civil will make... 

Pro Civil to buy Gem’s Ghaghoo mine
Gem Diamonds CEO Clifford Elphick

Gold spikes to more than 5-year high as Fed signals ready to cut 

By: Bloomberg     20th June 2019 Gold jumped to the highest in more than five years after the US Federal Reserve indicated a readiness to cut interest rates and the dollar tumbled. Gold had a lackluster start to the year but gained momentum this month as investors sought havens amid slowing global growth due to the fallout from... 

Gold spikes to more than 5-year high as Fed signals ready to cut

Zambian court rejects Vedanta bid to join liquidation case

By: Reuters     20th June 2019 Vedanta Resources said it would take urgent steps to protect its Zambian assets and pursue international arbitration if necessary after a Lusaka court on Thursday rejected its request to be included in liquidation proceedings. A Lusaka judge on Thursday ruled Vedanta Resources could not take part... 

Resolute Mining determined to grow as adds London listing

By: Reuters     20th June 2019 Australian-listed gold miner Resolute Mining lists on the London Stock Exchange on Thursday to broaden its investor base and pursue its ambition to be a high-tech, pan-African gold producer, partly through acquisitions. New listings have been scant in London, where uncertainty over Britain's... 

VGSA, Flaming Silver court case postponed until next month

By: Simone Liedtke     20th June 2019 A court case between Flaming Silver and Vantage Goldfields South Africa (VGSA) has been postponed until July 9 on request of Flaming Silver subsequent to an application for leave to amend the intervention application brought by former Flaming Silver director Ferdi Dippenaar. The postponement,... 

Ignored by big banks, smaller gold miners are paying more to expand

By: Bloomberg     20th June 2019 The cost of money is rising for small and mid-sized gold miners. Newmont Goldcorp and Barrick Gold, the biggest producers, have grown even bigger by buying up peers, shaping themselves as strong candidates for commercial bank lending. Meanwhile, smaller companies struggling to meet deadlines and... 

Endeavour Mining has a new CFO

By: Creamer Media Reporter      20th June 2019 Intermediate gold miner Endeavour Mining has appointed Anglo American base metals executive Louis Irvine as CFO, succeeding Vincent Benoit, who is rejoining Endeavour’s main shareholder, La Mancha Group, on August 1. Immediately prior to joining Endeavour, Irvine was executive head of strategy... 

Cyanide-free leaching technology launches

By: Esmarie Iannucci     20th June 2019 The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has licensed Perth-based Clean Mining to sell and distribute a new cyanide-free gold processing technology. The technology was developed over more than a decade by the CSIRO and replaces cyanide with a safer, less hazardous... 

Rio Tinto renews work on giant Guinea iron-ore deposit

By: Bloomberg     20th June 2019 Rio Tinto Group is looking at new ways to develop the giant Simandou iron-ore deposit in Guinea that it almost sold last year, according to people familiar with the matter. Simandou is one of the world’s biggest untapped mineral deposits, but has a controversial past. For more than a decade, it... 

Bauhinia Creek Phase 2 drilling intersects high-grade mineralisation

By: Tasneem Bulbulia     Updated 7 hours ago East Africa-focused gold producer Shanta Gold has intersected high-grade mineralisation over significant widths during the second phase of its Bauhinia Creek (BC) drilling campaign at the New Luika gold mine (NLGM) in Tanzania. This provided further evidence of the continuity of the orebody to... 

African Battery Metals increases shareholding in Katoro Gold

By: Simone Liedtke     20th June 2019 Aim-listed African Battery Metals (ABM) has confirmed the completion of its investment and option agreement with fellow Aim-listed Katoro Gold. ABM in May exercised an option to acquire shares and warrants in Katoro and a direct project holding in the Haneti nickel project in Tanzania. 

Syrah to raise A$111m, signs new offtake

By: Esmarie Iannucci     20th June 2019 Graphite miner Syrah Resources will raise some A$111.6-million though a convertible note and underwritten entitlement offer to ramp-up production at its Balama project, in Mozambique. Syrah has struck an agreement with its largest shareholder AustralianSuper to issue a five-year unsecured... 

Responsible sourcing of gemstones to receive more attention – Gemfields

By: Tasneem Bulbulia     20th June 2019 Responsible sourcing of coloured gemstones will receive ever-increasing attention and become progressively more important to consumers, predicts Gemfields and Kagem Mining CEO Sean Gilbertson. The observation comes as Gemfields recently contributed new data and insights to independent global... 

BHP and Mitsubishi to pursue emission reductions

By: Esmarie Iannucci     20th June 2019 Mining major BHP and Japan’s Mitsubishi Development have inked a memorandum of understanding (MoU) to jointly pursue emissions reductions. BHP CEO Andrew Mackenzie on Thursday said that the MoU marked the start of an important collaboration with one of the company’s essential long-term industry... 

Capstone curtails Pinto Valley activities owing to wildfire

By: Creamer Media Reporter      Updated 1 hour 5 minutes ago A wildfire that is burning near the westernmost property boundary of the Pinto Valley mine has led to owner Capstone Mining curtailing nonessential activities at the mine. The TSX-listed miner said, at the time of sending out its news release at 15:30 EST, that the wildfire had no physical... 

Court dismisses Ecuador mining referendum petition

By: Mariaan Webb     Updated 1 hour 22 minutes ago The share prices of SolGold and Cornerstone Capital Resources rose sharply in Canada on Thursday afternoon, following an announcement that the Ecuador mining referendum petition had been dismissed. TSX-V-listed Cornerstone, which is a partner in the significant Cascabel copper/gold project with... 

Court dismisses Ecuador mining referendum petition

Trump weighs limits on uranium imports after Commerce cites security risk

By: Bloomberg     Updated 2 hours 30 minutes ago The US Commerce Department has recommended the White House take steps to protect the domestic production of uranium after finding the nation’s reliance on imports was a national security risk, said three people briefed on the matter. Among the trade remedies recommended is to require nuclear... 

China National Gold studies bid for Canadian miner Iamgold

By: Bloomberg     Updated 2 hours 33 minutes ago China National Gold Group, the nation’s second-biggest miner of the metal, is studying a bid for a stake in Canada’s Iamgold, people familiar with the matter said. Iamgold shares jumped the most in more than four years. The state-owned gold miner is working with financial advisers on the... 

Group sues Trump administration for withholding information on mining decision

By: Reuters     Updated 2 hours 40 minutes ago A conservation group on Thursday sued the Trump administration for withholding documents related to its decision to cancel a 20-year ban on mining in a Minnesota wilderness area and open it up to copper production. The Wilderness Society filed the lawsuit in a Washington, DC, federal court to... 

Taseko getting its Florence ducks in a row

By: Mariaan Webb     Updated 2 hours 59 minutes ago Vancouver-headquartered Taseko Mines have the three key initiatives – technical, permitting and financing – all aligned for its Florence copper project, in the US state of Arizona, to be construction-ready in the first half of next year, president Stuart McDonald reported on Thursday. On the... 

Taseko getting its Florence ducks in a row

Ramaphosa confirms R230bn support for Eskom to be front-loaded

By: Terence Creamer     Updated 4 hours ago President Cyril Ramaphosa announced on Thursday that the R230-billion in fiscal support being directed to debt-laden power utility Eskom over the coming ten years would be structured in a way that ensures a significant portion is provided in the early years. A Special Appropriation Bill would be... 

Ramaphosa confirms R230bn support for Eskom to be front-loaded
President Cyril Ramaphosa

Savannah now has full ownership of Portugal lithium project

By: Mariaan Webb     Updated 7 hours ago Aim-listed Savannah Resources has full ownership of the Mina do Barroso project, following the $11.9-million buyout of minority shareholders in the Portugal lithium project. The remaining 25% interest was acquired from minority shareholders, including resource investment specialist Slipstream... 

Savannah now has full ownership of Portugal lithium project

Petropavlovsk reports strong interest in bond offering

By: Creamer Media Reporter      20th June 2019 Russian gold mining company Petropavlovsk on Thursday announced a new $125-million convertible bond to refinance an existing short-term $100-million bond with a coupon of 9%, using a long-dated instrument at a lower cost. CEO Pavel Maslovskiy said in a statement that the new bond offering had... 

Australia lithium miner Altura says former top investor Shaanxi J&R sells entire stake

By: Reuters     20th June 2019 Australia's Altura Mining said on Thursday its former biggest investor and one-time suitor, China's Shaanxi J&R Optimum Energy, has sold its entire remaining 11.8% stake in the lithium miner. At Altura's latest closing price, the stake would have been worth A$24.1-million ($16.60-million). It... 

Higher production expected from Aeris

By: Esmarie Iannucci     20th June 2019 ASX-listed Aeris Resources has tipped a 4% increase in full year production expectations on the back of strong production performances at its Tritton and Murrawombie underground mines, along with higher copper grades in New South Wales. The miner on Thursday advised that its copper production... 

Commissioning starts at Juardi

By: Esmarie Iannucci     20th June 2019 Commissioning has started at the Juardi gold project, in Western Australia, with full production targeted for the fourth quarter of this year. ASX-listed Beacon Minerals on Thursday said that the A$21.4-million project was expected to recover some 126 000 oz of gold over a five-year mine life,... 

MACA supports Blackham expansion plans

By: Esmarie Iannucci     20th June 2019 Integrated service contractor MACA will provide gold miner Blackham Resources with a A$12-million working capital facility to progress its transition to the Stage 1 expansion sulphide development at its Western Australian operations. Under the agreement, MACA will provide Blackham with working... 

St George raises A$4m under JMEI

By: Esmarie Iannucci     20th June 2019 Junior nickel developer St George Mining will raise A$4-million through a share placement, making use of the Junior Mineral Exploration Incentive (JMEI), which will expire at the end of the month. The JMEI is a tax credit arrangement, which allows mineral exploration companies that have no... 

Construction starts at Carmichael

By: Esmarie Iannucci     20th June 2019 Construction of the much-maligned Carmichael coal project, in Queensland, has started. Indian major Adani on Thursday said that some 60 workers were currently on site for surveying and clearing purposes to allow access onto the mine site, while also working on geotechnical and water management... 

Construction starts at Carmichael

Hydrogen Council, dam safety and climate change make headlines  

By: Creamer Media Reporter      20th June 2019 This week, new members join the Hydrogen Council; dam safety risks could scare investors and coal companies fighting climate change are on the right path. Mining Weekly editor Martin Creamer unpacks the headlines.   

Hydrogen Council, dam safety and climate change make headlines

China iron-ore soars as Rio Tinto cuts shipments forecast

By: Reuters     20th June 2019 China's iron-ore surged to a record on Thursday after Rio Tinto lowered its Pilbara shipment guidance, suggesting that supply could remain tight even as Vale is set to resume full operations at its Brucutu mine. Mining giant Rio Tinto on Thursday lowered its guidance on volumes of iron-ore it... 

Afrimat Construction Index shows marginal improvement year-on-year

By: Simone Liedtke     20th June 2019 JSE-listed Afrimat’s Construction Index (ACI) for the first quarter broadly followed the same “disappointing trend” evident in overall economic activity during the quarter, with gross domestic product (GDP) having contracted by more than 3% quarter-on-quarter. Economist Dr Roelof Botha, who... 

Afrimat Construction Index shows marginal improvement year-on-year
Photo by Creamer Media's Dylan Slater
Afrimat CEO Andries van Heerden

NGEx shareholders approve Helados spin-out

By: Creamer Media Reporter      20th June 2019 Shareholders and optionholders of Vancouver-based copper/gold explorer and developer NGEx Resources have approved the spin-out of the company’s Los Helados project and other exploration properties into a wholly-owned subsidiary NGEx Minerals. The arrangement will include a transfer of the Los... 

Bankrupt Cambrian Coal explores sale process

By: Creamer Media Reporter      20th June 2019 Kentucky- and Virginia-focused Cambrian Coal said on Wednesday that its mining operations and customer shipments would continue during a court-supervised sale process. The coking and thermal coal miner, which at the weekend filed for relief under Chapter 11 of the Bankruptcy Code in Kentucky,... 

Unions call for new standard to protect US miners from silica dust

By: Creamer Media Reporter      20th June 2019 With cases of coal workers’ pneumoconiosis (black lung disease) and progressive massive fibrosis spiking, two unions have called on the Mine Safety and Health Administration to step up standards to protect miners from silica dust. The United Mine Workers of America and United Steelworkers said in... 

Trump makes his biggest move yet to try to save coal plants

By: Bloomberg     20th June 2019 President Donald Trump is scaling back sweeping Obama-era curbs on greenhouse gas emissions from power plants burning coal, his biggest step yet to fulfill his campaign promise to stop a “war” on the fossil fuel. Yet the Environmental Protection Agency’s rewrite of the Clean Power Plan, which... 

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