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Gold rally narrows Acacia Mining, Barrick Gold offer gap ahead of deadline

By: Reuters     Updated 1 hour 21 minutes ago Ahead of Tuesday's deadline for Barrick Gold Corp to make a firm buyout bid for its Acacia Mining unit, a gold rally has eroded, but not eliminated, a discount and big Acacia shareholders say they still oppose the offer. Barrick must either firm up its proposal to acquire the 36.1% of Acacia it... 

Gold rally narrows Acacia Mining, Barrick Gold offer gap ahead of deadline

Non-disclosure of dam safety risks could prompt big investors to pull out

By: Reuters     Updated 1 hour 23 minutes ago Investors with a combined $12.5-trillion in assets, including the Swedish National Pension Funds and the Church of England, could review their stakes in resource companies that use storage dams if they do not release information to assess safety risks. The safety of dams used to store mining... 

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 MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Newmont Goldcorp resumes operations at Peñasquito

By: Reuters     Updated 1 hour 17 minutes ago Newmont Goldcorp said on Monday it had resumed shipping concentrate from the Peñasquito gold mine in Mexico after a blockade by a trucking contractor and some members of the Cedros community was lifted. Operations at the mine were temporarily suspended since April 29. 

Chuquicamata copper mine operations halved amid strike - Codelco

By: Reuters     Updated 1 hour 25 minutes ago Chile's Codelco said on Monday that its Chuquicamata copper mine, one of the world´s largest, had maintained output at 50% of capacity as it faced its fourth full day of a union strike. More than 3 000 unionised workers at the world's top copper producer's sprawling Chuquicamata copper mine... 

Virginia uranium-mining ban upheld by US Supreme Court

By: Bloomberg     Updated 1 hour 31 minutes ago The US Supreme Court upheld a Virginia law that bans mining at the nation’s largest known uranium deposit, rejecting a challenge pressed by the owners of the property with help from the Trump administration. Voting 6-3, the justices said Virginia’s uranium-mining ban is in accord with a 1954... 

Virginia uranium-mining ban upheld by US Supreme Court

Australian rare earth miners push development deals to counter China grip

By: Reuters     17th 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... 

Tando soars on SPD plans

By: Esmarie Iannucci     17th June 2019 The share price of ASX-listed Tando Resources closed nearly 18% higher on Monday after the company announced plans to implement parallel development strategies for its SPD vanadium project, in South Africa. The company said that following the results of the May scoping study, the company has... 

QRC warns of higher gas prices

By: Esmarie Iannucci     17th June 2019 The Queensland Resources Council (QRC) has warned that the 2.5% increase in gas royalties would likely be passed on to consumers, as Premier Annastacia Palaszczuk fended off calls to delay the royalty hike. “It was a Labor government that set up the liquefied natural gas (LNG) industry in this... 

Pilbara stunts output at Pilgangoora

By: Esmarie Iannucci     17th June 2019 Lithium miner Pilbara Minerals on Monday said that it would cut back on production form its Pilgangoora project, in Western Australia, during June and July this year, on the back of constrained sales during the June quarter. Pilbara told shareholders that the Pilgangoora lithium/tantalum project... 

Ramelius unveils million ounce plan

By: Esmarie Iannucci     17th June 2019 Gold miner Ramelius Resources has unveiled a one-million ounce life-of-mine plan for its Western Australian operations, with its newly acquired Tampia project to play a significant role in the future production. Ramelius on Monday said that the new mine plan confirmed the company’s ability to... 

Atlantic Gold to meet on St Barbara offer

By: Esmarie Iannucci     17th June 2019 The shareholders of TSX-V-listed Atlantic Gold will meet on July 15 to vote on a A$768-million takeover offer from Australian gold miner St Barbara. St Barbara in May announced plans to acquire all of the outstanding shares in Atlantic for C$2.90 a share, implying an enterprise value of... 

Senex signs A$50m deal over Roma North

By: Esmarie Iannucci     17th June 2019 Gas developer Senex Energy has struck a A$50-million infrastructure deal with energy infrastructure operator Jemena under which it will divest of its Roma North processing facility and pipeline. Under the terms of the agreement, Jemena will take ownership of the facility and pipeline on the... 

Senex signs A$50m deal over Roma North

South32 reports maiden resource at Taylor

By: Esmarie Iannucci     17th June 2019 Diversified miner South32 has reported a Joint Ore Reserves Committee (Jorc) compliant mineral resource estimate for the Taylor zinc/lead/silver deposit, within its Hermosa project area, in Arizona. The deposit is estimate to host some 155-million tonnes, grading 3.39% zinc, 3.67% lead, 69 g/t... 

Protesters agree to lift Newmont Goldcorp blockade in Mexico

By: Reuters     17th June 2019 Mexican protesters agreed to lift a blockade at Newmont Goldcorp's Penasquito mine on Friday, according to a government document seen by Reuters, ending a standoff that led to the mine stopping production for more than a month. An official at the Interior Ministry, which issued the document... 

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... 

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