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Kumba's interim dividend at 98% of HEPS

By: Marleny Arnoldi     Updated 24 minutes ago JSE-listed Kumba Iron Ore has declared a dividend of R30.70 a share for the six months ended June 30, which adds up to R9.9-billion in shareholder returns. CEO Themba Mkhwanazi on Tuesday said the payout represents a ratio of 98% of headline earnings per share (HEPS), above the company’s base... 

Kumba's interim dividend at 98% of HEPS
Photo by Creamer Media's Dylan Slater
Kumba CEO Themba Mkhwanazi

South African court grants urgent interdict halting disposal of Vedanta unit assets

By: Reuters     Updated 13 minutes ago South Africa's High Court on Tuesday granted an urgent interdict halting the wind-up proceedings by a provisional liquidator at Vedanta's Konkola Copper Mines (KCM). Vedanta has been locked in a dispute with the Zambian government, which accuses KCM, which is around 20% owned by Zambia's State... 

Guinea seeks developers for Simandou iron-ore deposit

By: Reuters     Updated 2 hours 10 minutes ago Guinea has launched an international tender for blocks 1 and 2 of Simandou, giving companies until August 2 to outline their bids, as the country seeks to revive interest in the world's largest undeveloped iron ore deposit. Guinea's aspirations to develop Simandou have foundered because of the... 

Guinea seeks developers for Simandou iron-ore deposit

Universal reports 19% rise in production

By: Esmarie Iannucci     Updated 2 hours 49 minutes ago Coal miner Universal Coal has reported a 19% increase in production during the three months to June, compared with the previous corresponding period, on the back of the integration of the North Block Complex, in South Africa. Run-of-mine production for the quarter reached 2.4-million tonnes,... 

Sanbrado mining convention falls into place

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed West African Resources has received a mining convention for its Sanbrado gold project from Burkina Faso’s Council of Ministers. MD Richard Hyde on Tuesday said that the finalisation of a mining convention marked a significant milestone for the development of Sanbrado, and sets the... 

Amplats targeting largest fuel cell truck, mulling renewable energy   

By: Martin Creamer     22nd July 2019 Platinum group metals mining and marketing company Anglo American Platinum, which recorded a spectacular 120% increase in half-year headline earnings per share, is screening the opportunities to use fuel cell trucks in its fleet. The cash-rich company has declared an interim dividend of... 

Anglo American Platinum first-half results presentation covered by Mining Weekly Online’s Martin Creamer. Video: Creamer Media’s Nicholas Boyd. Photographs: Creamer Media’s Dylan Slater

Petra delivers solid full-year performance in tough market  

By: Tasneem Bulbulia     22nd July 2019 Aim-listed Petra Diamonds delivered solid results for the financial year ended June 30, despite a difficult market environment, while it continues its transition from a period of high capital investment to a steady-state operational phase, CE Richard Duffy said on Monday. “The focus in the short... 

BHP to invest heavily in climate change research

By: Esmarie Iannucci     Updated 19 minutes ago Diversified major BHP will spend $400-million, over a five-year period, on a climate investment programme to develop technologies to reduce emissions from mining operations. “Over the next five years this program will scale-up low carbon technologies critical to the decarbonisation of our... 

BHP to invest heavily in climate change research
BHP CEO Andrew MacKenzie

Aspiring rare-earth producers should focus on niche products – F&S

By: Creamer Media Reporter      Updated 55 minutes ago Aspiring rare earth material producers aiming to compete with the likes of Australia’s Lynas Corporation and Iluka Resources will have to focus on manufacturing customised products for clients to break into the market. This is according to research and consulting firm Frost and Sullivan (F&S),... 

Canyon raises A$4m for bauxite PFS

By: Esmarie Iannucci     Updated 59 minutes ago Junior Canyon Resources has raised A$4-million through a share placement to sophisticated and professional investors to fund a prefeasibility study at its Minim Martap bauxite project, in Cameroon. The company placed 25-million shares, at a price of 16c each, to raise the capital, with the... 

Acacia investor Odey to back Barrick's final offer 

By: Reuters     22nd July 2019 British hedge fund Odey Asset Management said on Monday it intends to vote, on behalf of its clients, in favour of Barrick Gold's final offer to buy out its fellow shareholders in Acacia Mining. The approval comes after Odey said last month that it would reject any offer from Barrick for its... 

C$600m Pallinghurst backing for lithium junior Nemaska

By: Mariaan Webb     22nd July 2019 Junior miner Nemaska Lithium has potentially raised fresh capital to build the Whabouchi lithium mine and Shawinigan electrochemical, in Quebec, which faces cost overruns of about C$375-million. Global investor Pallinghurst Group is contemplating a C$200-million private placement, at C$0.25 a... 

C$600m Pallinghurst backing for lithium junior Nemaska
A June 2019 site photo of the Shawiginan plant that Nemaska Lithium is building in Quebec.

Brits inland terminal moved 100 000 t of chrome in June

By: Marleny Arnoldi     22nd July 2019 State-owned Transnet Port Terminals’ (TPT’s) Pendoring inland terminal, in Brits, exceeded its monthly average throughput, moving 100 000 t of chrome, in June. TPT said in a statement on Monday the terminal generally moves about 90 000 t a month of chrome.  

Grindrod recovers locomotives from Sierra Leone

By: Tasneem Bulbulia     22nd July 2019 JSE-listed freight and financial services company Grindrod has, this month, taken delivery of 20 of its locomotives that had been recovered and transported from Sierra Leone to the Port of Durban. The locomotives had been contracted in 2012 for hauling iron-ore from the Tonkilili mine to Pepel... 

Grindrod recovers locomotives from Sierra Leone
Locomotives

Fission studies underground-only option at PLS

By: Mariaan Webb     Updated 10 minutes ago Mineral exploration company Fission Uranium is studying the merits of an underground-only approach at its flagship Patterson Lake South (PLS) project, in Saskatchewan, the Kelowna, British Columbia-based firm announced on Tuesday. Potential benefits of an underground-only approach include low... 

Bulletin buys Lake Rebecca

By: Esmarie Iannucci     Updated 38 minutes ago ASX-listed Bulletin Resources has reached an agreement with Matsa Resources to acquire an 80% stake in the Lake Rebecca gold project, in Western Australia. Bulletin will make a cash payment of A$125 000 to Matsa, and has agreed to a 1% net smelter royalty on all minerals produced at the... 

Shanshan takes greater stake in Altura

By: Esmarie Iannucci     Updated 57 minutes ago Chinese firm Ningbo Shanshan has increased its stake in ASX-listed Altura Mining from 11.8% to 19.4%, through a further A$22.4-million investment. Altura on Tuesday told shareholders that it will issue Shanshan 200-million fully paid ordinary shares at a price of 11.2c each, making the Chinese... 

SSR buys partner’s stake in Argentina mine

By: Creamer Media Reporter      Updated 2 hours 37 minutes ago Nasdaq- and TSX-listed silver miner SSR Mining will buy the remaining 25% shareholding in the Puna operation, in Argentina, from TSX-V-listed Golden Arrow Resources for $34-million. Upon closing of the transaction, SSR will own 100% of Puna – a joint venture that was formed through the... 

Oz on track with full-year plans

By: Esmarie Iannucci     Updated 2 hours 59 minutes ago Copper and gold miner Oz Minerals is on track to reach full year production, with its Carrapateena project scheduled for first concentrate delivery in the fourth quarter of this year. Oz Minerals on Tuesday reported that copper production for the second quarter ended June had reached 28 525 t,... 

Blackham sells Lake Way assets

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed gold miner Blackham Resources has struck a A$10-million deal with fellow-listed Salt Lake Potash to sell its Lake Way tenements, in Western Australia, cancel its brine royalty and provide certain water rights. The two companies have been cooperating on their respective projects in... 

Blackham sells Lake Way assets

Auris earns majority stake in Cheroona JV

By: Esmarie Iannucci     Updated 3 hours ago Junior base metals explorer Auris Minerals has earned a 70% stake in the Cheroona joint venture (JV), in Western Australia, with gold miner Northern Star Resources. The farm-in agreement was struck in 2013, with Auris sole funding an initial A$500 000 to earn a 51% interest. The company has now... 

Power Metal concludes field exploration at Cameroon project

By: Tasneem Bulbulia     22nd July 2019 Aim-listed battery metal exploration and development company Power Metal Resources (PMR) has concluded field activities for a pitting, mapping and sampling programme at its 100% owned cobalt/nickel project in Cameroon. PMR in 2018 acquired licence interests in south-eastern Cameroon, including... 

Coal to Newcastle: Residents say mine puts them in danger

By: News24Wire      22nd July 2019 Residents of Blaauwbosch village in Newcastle, who live near an old coal mine where informal mining takes place, say they are fed up with empty promises by the government and local politicians. They told GroundUp they want to be moved elsewhere. The residents say the walls of their houses are... 

Vale Q2 iron-ore output nosedives 33.8% following Brazil dam break

By: Reuters     22nd July 2019 Brazil's Vale said on Monday that its second-quarter iron ore production tumbled almost 34% from a year ago as many of its key dams remained all or partially shut down following a deadly dam burst in January. The drop to 64.057-million tonnes came as several major mines including Brucutu, its... 

Vale Q2 iron-ore output nosedives 33.8% following Brazil dam break

Governments, international stakeholders to drive sustainable practices in mining

By: Tasneem Bulbulia     22nd July 2019 Governments and other international stakeholders will drive environmental and socially sustainable practices across the mining industry from the top down over the coming years, in line with commitments to higher ethical standards and the Paris Agreement on climate change. This is according to... 

Polyus production up 14% in June quarter

By: Creamer Media Reporter      22nd July 2019 Russian gold mining company Polyus on Monday reported gold production of 684 000 oz in the second quarter, which is a 14% improvement on both a quarter-on-quarter and a year-on-year basis. The performance, CEO Pavel Grachev reported, was supported by the Natalka mill operating at full capacity... 

Polyus production up 14% in June quarter
Polyus CEO Pavel Grachev

India may negate distinction between captive coal, commercial mining

By: Ajoy K Das     22nd July 2019 India’s Coal Ministry is working on a proposal to negate the legal distinction between captive coal mines operated by user industries and commercial mining by private merchant miners. The move to bring captive mines and commercial coal mining under the same legal framework has been prompted by... 

Serabi maintains production guidance

By: Creamer Media Reporter      22nd July 2019 Aim- and TSX-listed gold junior Serabi Gold has had a successful second quarter, reporting production of 9 527 oz, which is similar to its production in the same period last year, keeping the company on track to achieve its full-year guidance. For the first six months of the year, Serabi... 

South Africa allocates extra R59bn for cash-strapped Eskom 

By: Reuters     22nd July 2019 The South African government has made an extra R59-billion available to State-owned power utility Eskom over the next two years so it can meet its obligations, a Special Appropriation Bill seen by Reuters on Monday showed. Eskom, which supplies more than 90% of the country's electricity but has... 

South Africa allocates extra R59bn for cash-strapped Eskom

Europe's largest lithium project could be up and running mid-2022 -EMH

By: Reuters     22nd July 2019 European Metals Holdings could begin operations at its Cinovec lithium project in the Czech Republic by mid-2022, and is holding preliminary discussions with potential customers, it said on Monday. Czech utility CEZ, in which the state holds a 70% share, last week said it had conditionally... 

Eskom asks prospective CEOs to apply by August 2  

By: Marleny Arnoldi     22nd July 2019 State-owned Eskom is continuing its search for a group CE, following Phakamani Hadebe’s resignation in May, which becomes effective at the end of this month. Hadebe, at the time, said he was stepping down for health reasons after leading efforts to stabilise the highly indebted State firm since... 

Eskom asks prospective CEOs to apply by August 2
Photo by Creamer Media
Eskom head office, Megawatt Park

Barrick pursuing life-of-mine extension at Tongon

By: Tasneem Bulbulia     22nd July 2019 Dual-listed Barrick Gold Corporation is actively seeking to extend the life of its Tongon gold mine, in Côte d’Ivoire, while also exploring for new opportunities elsewhere in the country. In a release issued following a media briefing at the mine on Friday, president and CE Mark Bristow noted... 

Sienna back drilling at Sweden nickel/copper project

By: Creamer Media Reporter      22nd July 2019 Vancouver-headquartered Sienna Resources will start a new drilling programme at its flagship nickel, copper and cobalt project, in Sweden, next month, to test multiple high-priority drill targets. The 2019 programme at Slättberg followed initial drilling last year, which yielded encouraging... 

Galantas says Omagh development on target

By: Creamer Media Reporter      22nd July 2019 Development work at the Omagh underground gold mine, in Northern Ireland, is continuing on, or above, target, dual-listed Galantas Gold's CEO Roland Phelps, reported on Monday. In media statement updating development progess, he said that an access drive on the fourth level, or 1 060 m, had... 

Saracen posts record full year

By: Esmarie Iannucci     22nd July 2019 ASX-listed gold miner Saracen Mineral Holdings has reported a strong finish to the 2019 financial year, helping to deliver a record full year production. Gold production in the three months to June reached 88 096 oz, bringing full year production to a record 335 077 oz, which was in line with... 

South African firms invited to join exposure tour of Mozambique’s ‘game changing’ gas projects

By: Terence Creamer     22nd July 2019 Market and project intelligence firm Africa House will lead a group visit of South African companies to Mozambique in August to explore the business opportunities that will arise from the development of three multibillion-dollar gas projects in the far-flung northern provinces of the Southern... 

South African firms invited to join exposure tour of Mozambique’s ‘game changing’ gas projects

Anglo American says Chile Los Bronces mine project will not harm glaciers, biodiversity

By: Reuters     22nd July 2019 Anglo American said on Friday it had submitted an environmental impact study for a $3-billion project seeking to maintain output from its flagship Los Bronces copper mine in Chile. The overhaul proposes to move part of the mine underground where miners can access higher-grade copper and also,... 

Anglo American says Chile Los Bronces mine project will not harm glaciers, biodiversity

Abra costs estimated at A$170m

By: Esmarie Iannucci     22nd July 2019 A feasibility study into the Abra base metals project, in Western Australia, has estimated that it will produce some 95 000 t/y of lead and 805 000 oz of silver over a 16-year mine life. ASX-listed Galena Mining on Monday told shareholders that the 1.2-million-tonne-a-year Abra project would... 

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