R/€ = 15.58 Change: 0.07
R/$ = 13.86 Change: 0.04
Au 1415.53 $/oz Change: 0.12
Pt 843.73 $/oz Change: 4.84

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Rio completes Rössing sale

By: Esmarie Iannucci     Updated 5 hours ago Diversified miner Rio Tinto has completed the sale of its interest in the Rössing uranium mine in Namibia to China National Uranium Corporation (CNUC). The two companies in November of last year struck an agreement under which Rio would divest of its 68.62% stake in the project in exchange for... 

Rio completes Rössing sale

Amplats’ interim earnings receive boost from higher prices

By: Nadine James     Updated 1 hour 20 minutes ago A higher rand platinum group metals (PGMs) basket price and a R1-billion stock count adjustment gain have pushed PGMs producer Anglo American Platinum’s (Amplats’) earnings and headline earnings for the six months ended June 30, higher. In a revised trading update published on Tuesday, the miner... 

Fuel cell electric vehicles set to make strong entry – visiting experts  

By: Martin Creamer     15th July 2019 There is simply no doubt that fuel cell electric vehicles (FCEVs), which use platinum group metal catalysts, will make a very strong global entry in the next decade, global experts said on Monday. Speaking to Mining Weekly Online on the eve of Nedbank’s FCEV conference in Cape Town, Professor Dr... 

Fuel cell experts talk to Mining Weekly Online’s Martin Creamer. Video: Creamer Media’s Nicholas Boyd. Photograph: Creamer Media’s Dylan Slater.

UCT doctoral student’s research seeks to address issues around municipal zoning

By: Nadine James     Updated 54 minutes ago University of Cape Town (UCT) PhD student, Louie van Schalkwyk, has spent the last three years investigating the zoning policy procedures of three municipalities –Umhlathuze, in KwaZulu-Natal; Sol Plaatje, in the Northern Cape; and the City of Cape Town, in the Western Cape –  to determine... 

UCT doctoral student’s research seeks to address issues around municipal zoning
Photo by Je’nine May/UCT
Dr Louie van Schalkwyk

Pure Gold bolsters financing with AngloGold raising

By: Creamer Media Reporter      Updated 1 hour 9 minutes ago TSX-V-listed Pure Gold Mining has enlarged its capital raising to $45.5-million, following additional nonbrokered financing of about $13.04-million from South Africa-headquartered gold major AngloGold Ashanti and an institutional investor. The issue of 23.7-million units at $0.55 each to... 

PGMs eyed to elevate battery tech to new heights 

By: Marleny Arnoldi     15th July 2019 JSE-listed Anglo American Platinum (Amplats) and TSX-listed Platinum Group Metals (PTM) have launched a joint venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium. Lion has subsequently entered into an agreement with... 

PGMs eyed to elevate battery tech to new heights
Photo by Creamer Media's Dylan Slater
Amplats market development head Benny Oeyen

Rio warns of Oyu Tolgoi blow-out amid slow quarter

By: Esmarie Iannucci     Updated 5 hours ago Mining giant Rio Tinto has warned of costs blow-outs and delays to its Oyu Tolgoi underground project, in Mongolia. The miner on Tuesday said that capital spend to bring the copper project into production is expected to range between $6.5-billion and $7.2-billion, an increase of between... 

Rio warns of Oyu Tolgoi blow-out amid slow quarter

MC secures funding for Makhado Phase 1 construction

By: Tasneem Bulbulia     15th July 2019 The Industrial Development Corporation of South Africa’s (IDC’s) credit committee has approved a R245-million loan facility for ASX-, Aim- and JSE-listed MC Mining for the construction of Phase 1 of its Makhado hard coking coal project, in South Africa’s Limpopo province. The term loan reaffirms... 

MC secures funding for Makhado Phase 1 construction
Photo by Creamer Media's Dylan Slater
MC CEO David Brown

Lucapa on track for profits in 2019

By: Esmarie Iannucci     15th July 2019 Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up. Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three... 

Eskom’s quickest fix is giving it cash now, swapping debt later

By: Bloomberg     15th July 2019 Ask Nedbank Group CEO Mike Brown how to save South Africa’s beleaguered State-owned power utility and his approach is simple: first give it cash and then consider a debt-to-equity swap later. Eskom Holdings is paying so much in interest on its debt – at the same time that its income is falling –... 

Avesoro reduces funding shortfall with contractor appointment at Youga

By: Marleny Arnoldi     15th July 2019 TSX- and Aim-listed gold miner Avesoro Resources’ subsidiaries, Burkina Mining and Netiana Mining, have entered into an openpit mining contract with Orkun Group, for the Youga gold mine, in Burkina Faso. The appointment of the contractor will help to reduce the company’s expected capital... 

Additional resources extend Shanta’s New Luika mine life to 2025

By: Tasneem Bulbulia     15th July 2019 The resource at Aim-listed Shanta Gold’s New Luika gold mine (NLGM), in Tanzania, has increased, extending the mine’s life to 2025. Drilling at Bauhinia Creek (BC) Central, conducted in April and May, resulted in the conversion of 126 787 oz of inferred resources, grading 3.15 g/t, into 83 543 oz... 

Xtract appointed as contractor at Zambian copper processing project

By: Tasneem Bulbulia     15th July 2019 Xtract Resources has concluded a memorandum of agreement with KPZ International (KPZ) for Xtract to act as contractor for the Kalengwa processing project on the large-scale copper mining licence number 24401-HQ-LEL located in the central part of the Republic of Zambia. The historic Kalengwa... 

Tsodilo planning surface bulk sampling programme at BK16

By: Tasneem Bulbulia     15th July 2019 TSX-listed Tsodilo Resources has submitted a renewal application for prospecting licence 369/2014 to the Botswana Department of Mines (DoM) within the Ministry of Mineral Resources, Green Technology and Energy Security. The renewal application is for a two-year period and the area includes the... 

Kavango acquires new licence at Ditau in Botswana

By: Tasneem Bulbulia     15th July 2019 Aim-listed Kavango Resources has acquired a new prospecting licence (PL) adjacent to its current Ditau PL, in Botswana. The new PL covers an area of 916.4 km2 to the south-west of the current PL. 

Newfield progresses underground decline development at Tongo mine

By: Marleny Arnoldi     15th July 2019 Newfield Resources has progressed with blasting to access an underground mine decline at its Tongo diamond mine, in Sierra Leone. The company has excavated 42 600 cubic metres of material, with three blasts conducted so far and two blasts remaining, to bring the boxcut to the desired elevation... 

Bass reports record quarter

By: Esmarie Iannucci     15th July 2019 Graphite miner Bass Metals has reported a record quarter during the three months to June from its Graphmada mine, in Mozambique. The company on Monday reported that a record 32 000 t of ore was processed during the quarter, with 1 005 t of graphite produced at a benchmark quality of more than... 

Uranium market activity seen returning to 'more normal' levels

By: Mariaan Webb     15th July 2019 London-listed uranium fund Yellow Cake said on Monday that activity in the uranium market should pick up in the near term, following US President Donald Trump’s decision at the weekend to steer clear from imposing import tariffs on uranium. The Section 232 investigation, which started early last... 

Canadian, Australian miners cheer Trump’s uranium import decision

By: Mariaan Webb     15th July 2019 US President Donald Trump’s decision to back away from implementing new trade restrictions on uranium imports into the US has won praise from Canadian and Australian producers, which argue that the uranium they supply is not a threat to US national security. Trump has rejected the recommendation... 

Canadian, Australian miners cheer Trump’s uranium import decision
US President Donald Trump

CEZ gives European Metals funding, may partner on lithium project

By: Reuters     Updated 1 hour 4 minutes ago Czech utility CEZ will provide a two-million euro convertible loan to European Metals Holding (EMH), the companies said on Tuesday, giving CEZ a potential majority stake in the company developing a large lithium deposit in the country. The loan will mature on December 31, 2019 and carries a 7.5%... 

Australia to overtake Qatar on LNG field by 2020 - EnergyQuest

By: Esmarie Iannucci     Updated 1 hour 45 minutes ago Australia exported an estimated 75.1-million tonnes of liquefied natural gas (LNG) in 2018-19, generating revenues of A$50.5-billion, new research from EnergyQuest has shown. The export volumes were an increase of 21.2% on the 61.7-million exported in the 2018 financial year, with the LNG... 

Nevada Sunrise, Albemarle reach agreement on Clayton Valley water rights

By: Creamer Media Reporter      Updated 1 hour 50 minutes ago Vancouver-headquartered junior Nevada Sunrise Gold has negotiated a settlement agreement with NYSE-listed Albemarle over a water right permit in the Clayton Valley, Nevada, bringing an end to three years of litigation. Permit 44411’s good standing status has been restored and Nevada Sunrise will... 

Diatreme finds buyer for Galalar product

By: Esmarie Iannucci     Updated 1 hour 58 minutes ago Junior Diatreme Resources has inked a memorandum of understanding (MoU) with China’s Fengsha Group to potentially supply 500 000 t/y of photovoltaic grade silica sand from the Galalar silica project, in North Queensland. Diatreme CEO Neil McIntyre said on Tuesday that the MoU was a significant... 

First-half improvements for Oil Search

By: Esmarie Iannucci     Updated 1 hour 59 minutes ago ASX-listed Oil Search has reported a 38% increase in production during the first half of 2019, as operations in Papua New Guinea recovered following an earthquake in 2018. Total oil production in the six months to June reached 14.1-million barrels of oil equivalent, compared with the... 

Fracking gets a lifeline in WA

By: Esmarie Iannucci     Updated 2 hours ago The Australian Petroleum Production and Exploration Association (Appea) has welcomed the Western Australian government’s release of its implementation plan outlining its response to an Independent Scientific Panel Inquiry into hydraulic fracture stimulation. An independent Scientific Inquiry was... 

Atlantic shareholders approve St Barbara offer

By: Esmarie Iannucci     Updated 2 hours 1 minute ago The shareholders of TSXV-listed takeover target Atlantic Gold Corporation have voted in favour of an acquisition by gold miner St Barbara The two companies in May this year struck a C$802-million takeover deal, under which St Barbara would acquire all of the outstanding shares in Atlantic for... 

Venezuela defies sanctions to sell $40m in gold reserves

By: Bloomberg     Updated 3 hours ago Venezuela sold about $40-million worth of gold last week, defying numerous US sanctions that threaten to cut off Nicolas Maduro’s autocratic regime, according to people with knowledge of the matter. The central bank sold nearly one ton of gold July 12, lowering Venezuela’s dollar reserves to a... 

BHP tenders for LNG-fuelled transport for its iron-ore

By: Esmarie Iannucci     Updated 5 hours ago Major BHP has moved to reduce its CO2 emissions, releasing the world’s first bulk carrier tender for liquefied natural gas (LNG)-fueled transport for up to 27-million tonnes of its iron-ore. The miner said that introducing LNG-fuelled ships into BHP’s maritime supply chain will eliminate... 

BHP and Luminex make Ecuador earn-in binding

By: Creamer Media Reporter      15th July 2019 Canadian junior Luminex Resources on Monday announced the signing of a formal earn-in and joint venture (JV) agreement with a wholly-owned subsidiary of BHP, which would earn into two mining concessions in Ecuador. Ultimately, the major will have the right to earn a 70% interest in a JV company... 

Karelian raises £100k from new investor

By: Creamer Media Reporter      15th July 2019 Finland-focused diamond exploration company Karelian Diamonds on Monday announced that it had conditionally raised £100 000 from a new investor, Martello Holdings. Martello subscribed for 2.5-million new ordinary shares at 4p each – a premium of about 31% to the closing mid-market price of 3.05p... 

Teck and Liberty Gold sell Turkey project

By: Creamer Media Reporter      15th July 2019 Canadian companies Teck Resources and Liberty Gold have agreed to sell the Halilağa copper/gold porphyry deposit in north-western Turkey to Cengiz Holdings for $55-million in cash. The Turkish construction, mining and energy group will pay Teck and Liberty in three stages, over a two-year period. 

Metgasco fields offer from Melbana

By: Esmarie Iannucci     15th July 2019 ASX-listed Metgasco on Monday urged shareholders not to take any action around an unsolicited conditional takeover offer from fellow-listed Melbana Energy. Melbana has announced plans to make an all-script conditional takeover offer for Metgasco, under which it would offer four of its own... 

Cameco awarded $40m in Tepco dispute

By: Creamer Media Reporter      15th July 2019 A tribunal of international arbitrators has ordered Japan’s Tokyo Electric Power Company (Tepco) to pay Canadian miner Cameco $40.3-million in damages, following the termination of a multibillion-dollar supply agreement in 2017. Saskatoon, Saskatchewan-based Cameco’s claim was for damages of... 

Strike reports maiden resource at Paulsens East

By: Esmarie Iannucci     15th July 2019 Iron-ore hopeful Strike Resources has reported a maiden Joint Ore Reserves Committee (Jorc) compliant resource of 9.1-million tones, at 63.4% iron, at its Paulsens East iron-ore project, in the Pilbara. The ASX-listed company told shareholders that the mineral resource estimated a near 3-km long... 

Pakistan ordered to pay Antofagasta-Barrick venture $5.84bn in damages

By: Creamer Media Reporter      15th July 2019 The World Bank’s International Centre for Settlement of Investment Disputes has awarded a joint venture between London-listed Antofagasta and Toronto-listed Barrick Gold $5.84-billion in damages. The joint venture, Tethyan Copper Company (TCC), has filed for damages against the government of... 

Canada's Belo Sun touts procedural win but Brazil gold mine still on hold

By: Reuters     15th July 2019 Belo Sun Mining said on Friday it had won a legal victory in its push to mine the country's largest undeveloped gold deposit in the Amazon rainforest, which has drawn criticism from environmentalists and indigenous advocates. But the public prosecutor's office that is seeking to block the mine... 

Oz Minerals signs up for Maslins exploration

By: Esmarie Iannucci     15th July 2019 Copper and gold miner Oz Minerals will spend up to A$10-million at the Maslins iron-oxide copper gold (IOCG) project, in South Australia, to earn a 70% stake. The agreement with ASX-listed Investigator Resources would require Oz Minerals to commit to a A$1.4-million minimum spend on the project... 

MCA welcomes US uranium decision

By: Esmarie Iannucci     15th July 2019 The Minerals Council of Australia has welcomed US President Donald Trump’s decision not to impose quotas on uranium imports, following an investigation by the US Department of Commerce into foreign imports of uranium. Trump rejected findings by the Commerce Secretary that foreign uranium posed... 

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