R/€ = 16.60 Change: 0.01
R/$ = 14.80 Change: 0.01
Au 1338.72 $/oz Change: -16.20
Pt 800.75 $/oz Change: -13.34

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AMCU seeks basic wage of R17 000 for members in platinum sector 

By: Simone Liedtke     14th June 2019 The Association of Mineworkers and Construction Union on Friday announced that it would seek a monthly basic wage of R17 000 for its members when platinum wage discussions get under way later this month. The union represents about 60 000 members in the South African platinum sector. 

AMCU seeks basic wage of R17 000 for members in platinum sector
Photo by Creamer Media's Dylan Slater
AMCU president Joseph Mathunjwa

S&P revises Sibanye’s outlook to negative owing to liquidity concerns 

By: Nadine James     14th June 2019 Ratings agency S&P Global has revised its outlook for JSE- and NYSE-listed Sibanye Gold to negative, over concern about the gold miner’s ability to absorb potential near-term liquidity events. The agency cites factors such as upcoming wage negotiations at its South African platinum operations,... 

Gold busts above $1 350 as Iran tension, fed outlook spur demand 

By: Bloomberg     14th June 2019 Gold smashed above $1 350/oz to a 14-month high as rising geopolitical tensions bolster haven demand ahead of next week’s Federal Reserve meeting, when policy makers may move closer to cutting rates. Bullion for immediate delivery rose as much as 1.2% to $1 358.26/oz. Prices are set for a fourth... 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA 

By: Terence Creamer     14th June 2019 Hydrogen and hydrogen-based fuels could help facilitate the decarbonisation of a range of sectors where the pathway for achieving meaningful emission reductions is currently uncertain or difficult, a new global study argues. Released by the International Energy Agency (IEA) at a meeting of G20... 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA

Corruption, maladministration of royalties leave mine-affected communities high and dry

By: Tracy Hancock     14th June 2019 Maladministration and misappropriation of funds continue to render South Africa’s mining royalties system mostly ineffective, with no one being brought to book. Established to deliver transformation in impoverished, mining-affected communities through the distribution of royalties paid by the... 

Corruption, maladministration of royalties leave mine-affected communities high and dry

Acacia investor Odey against any 'best and final' offer from Barrick

By: Reuters     14th June 2019 British hedge fund Odey Asset Management said on Thursday it would reject any offer from Barrick Gold for its stake in Acacia Mining that is framed as "best and final", becoming the second Acacia investor to publicly oppose the Canadian mining giant's buyout proposal. "Odey is not rejecting any... 

Acacia investor Odey against any 'best and final' offer from Barrick

Third-quarter ferrochrome price down 13% q/q

By: Nadine James     14th June 2019 JSE-listed Merafe Resources on Friday advised shareholders that the European benchmark ferrochrome price had been settled at $1.04/lb for the third quarter. This represents a 13.3% decrease on the ferrochrome price of $1.20/lb for the second quarter, and is the lowest level since the third... 

Kore sets sights on $13m capital raise

By: Esmarie Iannucci     14th June 2019 ASX- and Aim-listed Kore Potash is hoping to raise $13-million through a share placement to fund work at the Sintoukola potash project, in the Republic of Congo. Kore on Friday said that the placement will be conducted through an accelerated bookbuild, which will be launched immediately. 

Studies reveal numerous product opportunities for Giyani’s Botswana projects

By: Nadine James     14th June 2019 Metallurgical testing results of stockpile material from TSX-listed Giyani Metals’ K.Hill and Otse manganese deposits, in Botswana, indicate that a variety of lumpy and fine particle manganese products are possible, the company said on Friday. As an example, Giyani noted that a 36% manganese... 

BlueRock sells 24.98 ct diamond for $190 000

By: Nadine James     14th June 2019 Aim-listed BlueRock Diamonds, the owner and operator of the Kareevlei diamond mine, in Kimberley, has sold a 24.98 ct diamond recovered earlier this month for $190 000. Executive chairperson Mike Houston on Friday commented that the company was delighted with the sale of its largest diamond to... 

Innovative strategies boost platinum jewellery margin – PGI

By: Nadine James     14th June 2019 Platinum jewellery industries across key markets are becoming increasingly innovative to improve margins, Platinum Guild International’s (PGI’s) first quarter 2019 ‘Platinum Jewellery Business Review (PJBR)’ states. The PJBR, published on Friday, notes that India continues to be the fastest... 

Innovative strategies boost platinum jewellery margin – PGI

Rio Tinto’s AutoHaul brings freight rail into 21st century

By: Esmarie Iannucci     14th June 2019 Mining major Rio Tinto on Friday officially rolled out its $940-million AutoHaul rail technology programme, marking the world’s first automated heavy-haul long distance rail network. Rio’s 2.4 km-long trains, running a network of 1 700 km of track, has now safely travelled more than 4.5-milion... 

Rio Tinto’s AutoHaul brings freight rail into 21st century

Omnia flags full-year loss

By: Reuters     14th June 2019 South African chemicals and fertiliser maker Omnia Holdings said on Friday it expected to report a full-year loss as drought, a volatile currency, changes in the mining industry and difficult global trading conditions weighed on earnings. The firm said the headline loss per share, the main profit... 

AST declares maiden quartz resource, celebrates with inaugural blast

By: Nadine James     14th June 2019 AST Sand Mines’ Van Dykspruit quarry, on the border between Gauteng and Mpumalanga, on Friday declared its maiden quartzite-roadstone resource. AST management also oversaw the inaugral blast that would provide access to the underlying high-grade quartzite rock. 

AST declares maiden quartz resource, celebrates with inaugural blast
Van Dykspruit Quarry

Congo State miner's high-flying chief has his wings clipped

By: Bloomberg     14th June 2019 The head of the Democratic Republic of Congo’s State mining company will no longer exercise control over the business, despite being reappointed to the post, the president’s spokesperson has said. Albert Yuma, who was named president of Gecamines’s board in 2010, retained the position in a May 29... 

Oil set for weekly drop as tanker attacks can't dispel trade woes

By: Bloomberg     14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Mining Weekly iPhone and Android Apps available for free download 

14th June 2019 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

London Metal Exchange slaps alcohol ban on open outcry traders

By: Reuters     14th June 2019 The London Metal Exchange has banned open outcry traders from consuming alcohol during the day, it said on Friday, joining other London firms in halting a culture of boozy lunches. In the past, LME traders, along with many other financial service workers, had a culture of heading to the pub at... 

Taseko appoints new president, Hallbauer remains CEO

By: Creamer Media Reporter      14th June 2019 Copper miner Taseko Mines on Friday announced several senior management changes, including the appointment of current CFO Stuart McDonald as its new president – a position that Russell Hallbauer previously held. Hallbauer, who was president and CEO, would remain as CEO of the company. 

Blue Sky sees first-mover advantage in Argentina uranium, vanadium market

By: Nadine James     14th June 2019 TSX-listed Blue Sky Uranium CEO Niko Cacos tells Mining Weekly Online the uranium market is in the early stages of a longer-term rising price trend. Blue Sky, which owns the Amarillo Grande uranium/vanadium project (AGP), in Rio Negro, Argentina, expects to take advantage as uranium prices... 

Blue Sky sees first-mover advantage in Argentina uranium, vanadium market

Workers begin strike at Chile's sprawling Chuquicamata copper mine

By: Reuters     14th June 2019 More than 3 000 unionised workers at Codelco's sprawling Chuquicamata copper mine walked off the job early Friday morning after failing to reach a labour deal earlier this week with Codelco, the world's top producer of the metal. Chuquicamata unions 1, 2, and 3 rejected a contract offer from the... 

Public comment sought on proposed Ontario mine

14th June 2019 The Canadian Environmental Assessment Agency has concluded that TSX-listed Treasury Metals’ proposed Goliath gold project, in north-western Ontario, is not likely to cause significant adverse environmental effects. The agency has published its draft environmental assessment report for a 30-day... 

Russian miner partners with AI solutions provider to mine in the extreme north

By: Nadine James     14th June 2019 First Ore-Mining Company, which forms a part of ARMZ Uranium – the mining division of the Rosatom State Atomic Energy Corporation – has signed a memorandum of understanding with Finnish-Russian digital solutions provider ZYFRA to deploy artificial intelligence-based solutions in mining and... 

SolGold identifies ‘exciting new porphyry target’

By: Creamer Media Reporter      14th June 2019 Ecuador-focused explorer SolGold has identified a potential new porphyry copper/gold/molybdenum system in its 100%-owned Sharug concession, the company announced on Thursday. The new prospect, called Santa Martha, was identified after teams explored south of the recently discovered Quillosis... 

Vale says hopes to reach dam burst global settlements by year-end

By: Bloomberg     14th June 2019 Brazil's Vale said on Thursday that it expects to reach global settlements covering economic and environmental damages from the January collapse of its Brumadinho tailings dam by late this year or in 2020. Vale is scrambling to deal with the fallout from the disaster, which killed at least 246... 

Agnico Eagle bids C$26m for explorer Alexandria

By: Creamer Media Reporter      14th June 2019 Gold miner Agnico Eagle has moved to consolidate its holding in the Val d'Or mining camp, Quebec, with a C$26-million offer for Toronto-based exploration company Alexandria Minerals. The acquisition will allow Agnico Eagle to consolidate an additional 14 819 ha of mining claims that cover about... 

Canada’s highest court clears way for Taseko’s New Prosperity

By: Mariaan Webb     14th June 2019 Efforts to move the New Prosperity mine project near Williams Lake, British Columbia, forward have gained traction this week, when the Supreme Court of Canada (SCC) cleared the way for Taseko Mines to undertake geotechnical work at the project. The SCC on Thursday dismissed the Tsilhqot'in First... 

Canada’s highest court clears way for Taseko’s New Prosperity

Australian rare earth miners push development deals to counter China grip

By: Reuters     14th June 2019 Rare earth developers in Australia say they are edging closer to signing deals with new customers that would drive forward their projects amid mounting global supply concerns over the minerals that are crucial to high-tech industries. Australia contains only 2.8% of the world's rare earth... 

Allegiance raises funds for Tenas

By: Esmarie Iannucci     14th June 2019 ASX-listed Allegiance Coal will raise A$2.6-million through a share placement priced at 7.5c a share. The company on Friday said that it would place more than 35.3-million shares to institutional investors, to fund its working capital requirements at its Tenas metallurgical coal project, in Canada. 

QRC hoping for a stay on gas tax

By: Esmarie Iannucci     14th June 2019 The Queensland Resources Council (QRC) has called on the Queensland government to delay the 2.5% increase in gas royalties until January 2020. During the state Budget earlier this week, the government revealed a surprise hike in the petroleum royalty rake, taking it from 10% to 12.5% with the... 

Higher prices drive BCI earnings

By: Esmarie Iannucci     14th June 2019 Higher iron-ore prices and lower exchange rates have seen ASX-listed junior BCI Minerals update its earning expectations for its Iron Valley mine, in the Pilbara. BCI Minerals had previously estimated that earnings before interest, taxes, depreciation and amortization (Ebitda) from the mine would... 

Saracen makes another play for Bligh with A$38m offer

By: Esmarie Iannucci     14th June 2019 Gold miner Saracen Mineral Holdings on Friday made a A$38.2-million all-scrip takeover offer for fellow-listed Bligh Resources, prompting the takeover target to withdraw an entitlement offer to raise up to A$2.8-million. Saracen is offering Bligh 0.0369 of its own shares for every Bligh share... 

Fortescue ventures into South Australian copper

By: Esmarie Iannucci     14th June 2019 Iron-ore major Fortescue Metals has struck farm-in and joint venture (JV) agreements with two ASX-listed juniors in South Australia, as it hunts for copper and gold in the region. Tasman Resources on Friday announced a farm-in and JV agreement over its Vulcan exploration licence, which adjoins... 

European lithium projects gain attention amid push toward EVs

By: Reuters     14th June 2019 European lithium projects are making a fresh push for capital, eager to supply the white metal to a burgeoning network of battery manufacturers and electric vehicle makers across the continent, the world's second-largest EV market after China. A regional EV supply chain would help achieve... 

European lithium projects gain attention amid push toward EVs

Defence blasts Ipid for shoddy investigation after Marikana shooting in 2012

By: African News Agency      14th June 2019 The police watchdog, Independent Police Investigative Directorate (Ipid) did not properly followed its mandate in its investigations of the Marikana 2012 massacre, the North West High Court heard on Thursday.  "I put to you that Ipid did not do its job as prescribed in the act, if you did your... 

Defence blasts Ipid for shoddy investigation after Marikana shooting in 2012

Iron-ore, gold surge propel South African miners to 11-year high

By: Bloomberg     13th June 2019 The twin tailwinds of rallying iron-ore prices and gold’s haven appeal have driven South African mining stocks to an almost 11-year high. Johannesburg’s FTSE/JSE Africa Mining Index gained as much as 2% Thursday to the highest since July 2008. Anglo American, BHP Group and AngloGold Ashanti have... 

Majority of planned upgrades at Edenville’s Tanzania project completed

By: Simone Liedtke     13th June 2019 The majority of the planned plant upgrades at Aim-listed Edenville Energy’s flagship Rukwa coal project, in Tanzania, have been completed, the company reported on Thursday. One of the key upgrades was further modifications to the pre-screen, which had been installed in January 2019. 

Zambian President threatens to fine miners who break law

By: Reuters     13th June 2019 Zambia will fine and break ties with mining firms that fail to operate according to the southern African country's laws, President Edgar Lungu said on Thursday, escalating a dispute with India-listed Vedanta. Vedanta is fighting Zambia's decision last month to name a provisional liquidator to run... 

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