R/€ = 15.54 Change: 0.00
R/$ = 13.88 Change: -0.02
Au 1419.08 $/oz Change: -8.62
Pt 845.32 $/oz Change: -5.16

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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... 

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

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

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

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

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... 

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... 

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... 

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... 

Jervois Mining takes over Canada's Ecobalt, shares jump

By: Reuters     22nd July 2019 Australian cobalt developer Jervois Mining will take over eCobalt Solutions after shareholders of the Canadian company voted in favour of the deal, Jervois said on Monday. Jervois will acquire eCobalt in a plan of arrangement that values the deal at C$57.6-million, and will become the owner of... 

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

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

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... 

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... 

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... 

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... 

Ravenswood resource and reserves jump

By: Esmarie Iannucci     22nd July 2019 Gold miner Resolute Mining has reported a 24% increase in the mineral resource, and a 58% increase in the ore reserve at its Ravenswood project, in Queensland. The mineral resource at Ravenswood has increased from 4.8-million ounces to 5.9-million ounces, while the ore reserve increased by... 

Amplats declares R3bn interim dividend as earnings soar 82%

By: Martin Creamer     22nd July 2019 Platinum group metals (PGM) mining and marketing company Anglo American Platinum (Amplats) on Monday declared an interim dividend after achieving another strong financial performance in the first half of the year on back of robust market fundamentals and an 82% surge in earnings before interest... 

Amplats declares R3bn interim dividend as earnings soar 82%
Photo by Creamer Media
Amplats CEO Chris Griffith

Kingsrose restarts Way Linggo mining

By: Esmarie Iannucci     22nd July 2019 Junior Kingsrose Mining has resumed mining operations at its Way Linggo openpit mine, in Indonesia, following a wall failure late last month. The company at the end of June reported a fault had been identified in the north-east pit wall was being closely monitored by the site geotechnical team... 

Timeline extended at Marillana

By: Esmarie Iannucci     22nd July 2019 The joint venture (JV) between juniors Brockman Mining and Mineral Resources has been amended to extend the delivery of some development targets at the Marillana project, in Western Australia, by one year. To acquire a 50% interest in the Marillana project, Mineral Resources will spend A$250 000... 

Sheffield secures additional zircon offtake

By: Esmarie Iannucci     22nd July 2019 ASX-listed Sheffield Resources has inked additional binding offtake agreements for zircon concentrate at its Thunderbird mineral sands project, in Western Australia. The company on Monday told shareholders that an agreement with China’s Hainan Wensheng High-Tech Materials Company would see the... 

Arafura completes A$23.2m raising

By: Esmarie Iannucci     22nd July 2019 ASX-listed Arafura Resources has completed a A$23.2-million fully underwritten pro-rata non-renounceable entitlement offer to progress its Nolans neodymium-praseodymium (NdPr) project, in the Northern Territory. The entitlement offer was priced at 8.5c a share and fully underwritten by Patersons... 

Northern Minerals raises A$30m for Browns expansions

By: Esmarie Iannucci     22nd July 2019 Rare earths miner Northern Minerals on Monday announced plans to raise A$30-million to ramp-up ore sorting, product separation and exploration initiatives at its Browns Range project, in Western Australia. Northern Minerals will issue more than 483.8-million shares, at a price of 6.2c each, to... 

St Barbara completes Atlantic buy

By: Esmarie Iannucci     22nd July 2019 Gold miner St Barbara has completed the acquisition of TSX-V listed Atlantic Gold, acquiring the outstanding common shares in the Canadian miner for A$780-million. The two companies in May this year struck a takeover deal under which St Barbara acquired all the outstanding shares in Atlantic for... 

St Barbara completes Atlantic buy

Iron-ore market looks to top miner for clues on end to shortages

By: Bloomberg     22nd July 2019 Vale’s second-quarter production due next week may offer clues on whether the world’s largest iron-ore producer could provide some relief to a market reeling from shortages that sent prices to a five-year high. Analysts, on average, expect the Rio de Janeiro-based miner to report that output of... 

Blackhawk files Chapter 11, joins list of bankrupt coal miners

By: Bloomberg     22nd July 2019 Blackhawk Mining filed for Chapter 11 court protection in Delaware, adding to a growing list of bankrupt coal miners. The Lexington, Kentucky-based company in court documents listed more than $1-billion in debt, compared to $165-million in Ebitda last year. Details of the filing were reported... 

Mexico environmental authority suspends Grupo Mexico facility after sulphuric acid spill

By: Reuters     22nd July 2019 Mexico's environmental prosecutor Profepa said on Saturday it ordered the partial and temporary closure of mining and transport firm Grupo Mexico's Guaymas facility after it spilled sulfuric acid in the Gulf of California. Grupo Mexico last week said it had quickly controlled the July 9 spill,... 

Gold rally energised Canadian stocks even before Dalio’s essay

By: Bloomberg     19th July 2019 Billionaire investor Ray Dalio made headlines this week by asserting in a 6 000-word essay that gold should become a key part of every portfolio. Investors in Canadian gold stocks are way ahead of him. Gold producers have been on a tear in Canada, keeping the benchmark S&P/TSX Composite Index... 

Yamana unveils ‘impressive’ NPV for integrated Argentina project

By: Mariaan Webb     19th July 2019 Dual-listed gold miner Yamana Gold on Friday announced positive results of the prefeasibility study (PFS) for its Agua Rica copper/gold project, including an “impressive and increased” net present value of $1.9-billion and an increased after-tax internal rate of return of 19.7%. The positive PFS... 

Rustenburg communities want ConCourt to set aside Sibanye's Lonmin takeover 

By: African News Agency      19th July 2019 The Greater Lonmin Community (GLC) have approached the Constitutional Court seeking leave to appeal and set aside the acquisition of platinum mining company, Lonmin by Sibanye-Stillwater.  The GLC is a not-for-profit organisation representing various affected communities of Rustenburg, such as... 

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