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Muted Chinese stainless steel production, trade dispute results in nickel price dip

By: Marleny Arnoldi     24th May 2019 Fitch Solutions Macro Research has revised its nickel price forecast for this year down to $13 250/t, compared with its previous forecast of $14 500/t, as prices have headed lower in recent weeks. The nickel price has dropped by 9% to $12 010/t in mid-May, compared with $13 100 in mid-April.  

Muted Chinese stainless steel production, trade dispute results in nickel price dip

Barrick's offer for control of Acacia Mining reflects risk – CEO

By: Reuters     24th May 2019 Barrick Gold's offer to buy the rest of Acacia Mining reflects the risk the Canadian-listed mining company faces in increasing its exposure to Tanzania, its chief executive said on Friday. Barrick, which owns 63.9% in London-listed Acacia, on Tuesday proposed to buy out the minority shareholders... 

Peabody starts reventilating North Goonyella with aim of resuming production next year

By: Creamer Media Reporter      24th May 2019 Coal miner Peabody has taken the first step to resuming operations at the fire-hit North Goonyella mine in Queensland, Australia, with an announcement on Friday that it is proceeding with the ventilation of the first segment of the coal mine. This forms part of a phased reventilation and... 

Freeport-McMoran sells Finland cobalt refinery

By: Creamer Media Reporter      24th May 2019 Phoenix, Arizona-headquartered Freeport-McMoran (FCX) has announced an agreement to sell its Kokkola cobalt refinery and related cobalt cathode precursor business to Begium’s Umicore for about $150-million, plus working capital at the time of close. Toronto-listed Lundin Mining is a joint... 

Giyani receives EMP approvals for Botswana manganese prospects

By: Tasneem Bulbulia     24th May 2019 Giyani Metals on Friday announced that the Department of Environmental Affairs (DEA) in Botswana had approved the environmental management plans (EMP) for its K.Hill and Otse manganese prospects and requested the company to proceed to the public review stage. Giyani submitted three EMPs for its... 

Stoppage at Newmont Goldcorp mine costs Mexico millions daily - Minister

By: Reuters     24th May 2019 Ongoing stoppages at Newmont Goldcorp Corp's Penasquito gold mine in Mexico are costing "millions" every day to both public coffers and the company, a Mexican Minister said on Thursday, urging a solution that will restart operations. Speaking to reporters in Mexico City, Francisco Quiroga, the... 

B2Gold dismisses reports of Zim gold mine acquisition 

By: Marleny Arnoldi     24th May 2019 Canadian miner B2Gold CEO Clive Johnson has dismissed reports about the company acquiring a gold mine in Zimbabwe, stating on Friday that the company was “not pursuing material developments or production mergers or acquisitions”. He reiterated B2Gold’s long-term growth strategy. “In addition to... 

Zambia's mines minister orders regular audits at all mines

By: Reuters     24th May 2019 Zambia will carry out regular audits at all mines to avoid any repeat of the situation at Vedanta unit Konkola Copper Mines (KCM), which has breached the terms of its licence, the mining ministry said on Thursday. Zambian President Edgar Lungu said on Monday the government planned to strip KCM of... 

Zambia's mines minister orders regular audits at all mines

McEwen declares commercial production at Gold Bar, appoints new Nevada GM

By: Creamer Media Reporter      23rd May 2019 NYSE- and TSX-listed McEwen Mining has reached commercial production at its Gold Bar mine, which is under the supervision of its new Nevada general manager (GM), Jack Henris. Henris joined McEwen from Goldcorp, where he was VP of mining and geotechnical. His appointment is aimed at driving... 

McEwen declares commercial production at Gold Bar, appoints new Nevada GM

Taseko’s Gibraltar GM named MABC mining person of the year

By: Creamer Media Reporter      24th May 2019 The Mining Association of British Columbia (MABC) has named Richard Tremblay, VP and general manager at Taseko’s Gibraltar mine, as the 2018 Mining Person of the Year. The 2018 award honours Tremblay’s dedication and leadership within the industry, advancing research, management and community... 

Eskom CEO resigns for health reasons

By: Reuters     26th May 2019 The chief executive of South Africa’s struggling power utility Eskom, Phakamani Hadebe, said on Friday he was stepping down for health reasons after leading efforts to stabilise the highly indebted state firm. Eskom is regularly cited by ratings agencies as one of the main threats to the... 

Eskom CEO resigns for health reasons
Phakamani Hadebe

Nordgold recovers from fourth-quarter net loss

By: Marleny Arnoldi     24th May 2019 Aim-listed gold miner Nordgold has had a less productive first quarter and, on Friday, reported a 6% year-on-year decline in production to 211 700 gold-equivalent ounces (GEO), compared with the 225 100 GEOs produced in the first quarter of 2018. Production for the quarter was also 9% lower... 

Walkabout fast-tracks Tanzania project

By: Tasneem Bulbulia     24th May 2019 Graphite developer Walkabout Resources has started an integrated “early start” programme for the procurement, manufacturing and site works for the Lindi Jumbo project, in Tanzania. The “early start” programme is aimed at fast-tracking the project to production to allow the company to capitalise... 

African zinc production to rise to 5% of global share with Gamsberg development

By: Marleny Arnoldi     24th May 2019 Vedanta’s $400-million investment into the Gamsberg zinc mine, in South Africa’s Northern Cape, will result in Africa’s zinc production rising to 5% of global production, compared with the current 3.4%, CNN said on Friday. CNN Marketplace Africa will, on Friday evening, air a discussion by host... 

African zinc production to rise to 5% of global share with Gamsberg development
Photo by Creamer Media's Dylan Slater
Vedanta's Gamsberg mine, in the Northern Cape

Bank says Lonmin investors should reject Sibanye offer  

By: Bloomberg     24th May 2019 Africa’s biggest bank said Lonmin investors should reject Sibanye-Stillwater's takeover offer as it undervalues the platinum miner’s assets by as much as R6.64-billion. While Sibanye’s offer equates to R11.60 a share, Lonmin’s value at current metal prices is 45% higher, Leroy Mnguni, an analyst... 

Vedanta-Konkola liquidation case adjourned to June 4

By: Reuters     24th May 2019 A court hearing between Vedanta, its Konkola Copper Mines business (KCM) and the Zambian government over control of KCM, was adjourned on Friday until June 4, a lawyer said. Vedanta is fighting the government's attempt to seize KCM, which is one of the biggest employers in Zambia, Africa's second... 

Vedanta-Konkola liquidation case adjourned to June 4

Strandline raises cash for mineral sands work

By: Esmarie Iannucci     24th May 2019 Mineral sands miner Strandline Resources will raise A$5.5-million for project works in Western Australia and Tanzania. The company will issue 46-million shares, priced at 12c each, to institutional and sophisticated investors, with shareholder Tembo Capital set to take part in the placement. 

Tyranna has Eureka moment in WA

By: Esmarie Iannucci     24th May 2019 An independent study into the re-start of the Eureka gold project, in Western Australia, has proven that it could be a viable cash flow opportunity for owner Tyranna Resources. The restart study estimated that some 2 000 oz of gold could be recovered over a one-month mine life, generating free... 

NT sets fracking borders

By: Esmarie Iannucci     24th May 2019 The Northern Territory government on Friday released no-go zone boundaries that will remain free from hydraulic fracturing exploration or production. As part of recommendations from the Scientific Inquiry into Hydraulic Fracturing in the Northern Territory, areas exempt from petroleum activity... 

Bartons delays hits Millennium balance sheet, production forecast

By: Esmarie Iannucci     24th May 2019 Gold miner Millennium Minerals has reached an in-principle agreement with shareholder IMC Group for a A$20-million mezzanine debt facility to provide working capital as delays at the Bartons underground and the sulphide plant at Nullagine, in Western Australia, continued. The gold miner on... 

Myanmar raises A$20m

By: Esmarie Iannucci     24th May 2019 Metals developer Myanmar Metals will raise A$20.8-million through a share placement to institutional investors. The ASX-listed company on Friday reported that had received firm commitments for the placement of more than 319.9-million shares, at a price of 6.5c each from domestic and... 

Mincor raises cash for nickel restart

By: Esmarie Iannucci     24th May 2019 Nickel hopeful Mincor Resources will raise A$23-million through a share placement and share purchase plan (SPP) to fast track its plans to restart nickel sulphide mining in the Kambalda district, in Western Australia. Mincor earlier this week struck a A$9.5-mllion deal to acquire the Long... 

Palaszczuk gives June 13 deadline for Adani approvals

By: Esmarie Iannucci     24th May 2019 Queensland Premier Annastacia Palaszczuk on Friday said that Indian major Adani’s two outstanding management plans for its multi-billion dollar Carmichael project should be resolved by June 13. The deadline comes after the Premier earlier this week called a meeting between Adani, the... 

Palaszczuk gives June 13 deadline for Adani approvals

Canadian miner said to be in talks to buy Zimbabwe gold project

By: Bloomberg     24th May 2019 Canada-based B2Gold is considering buying an idled Zimbabwean gold mine – if it can be exempted from a law that requires producers to sell all the metal to the country’s central bank, people familiar with the situation said. Securing an exemption may open the way for further investment by gold... 

Mining Charter III provisions seen by some as too onerous for junior miners 

By: Nadine James     24th May 2019 There should be a new regulatory regime for juniors – one that adheres to the spirit of Mining Charter 3, but which introduces reasonable and achievable transformation and procurement targets relative to the size and financial constraints of junior and emerging miners, says Eversheds Sutherland... 

Mining Charter III provisions seen by some as too onerous for junior miners

Mining Weekly iPhone and Android Apps available for free download 

24th May 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

India’s SCCL developing greenfield underground coal mine

By: Ajoy K Das     23rd May 2019 Moving against a general trend among Indian miners of closing down underground mines, State-run Singareni Collieries Company Limited (SCCL) has started work on developing a new underground mine in the southern state of Telangana. SCCL will develop the Kalyani Khani-6 Incline block in Telangana... 

Afrimat’s diversification contributes to strong full-year results

By: Tasneem Bulbulia     23rd May 2019 Industrial minerals and construction materials group Afrimat has recorded a good overall performance for the year ended February 28, and achieved positive results for the period owing to its diversification strategy, Afrimat group CEO Andries van Heerden said in a statement on Thursday. The... 

Aura produces first uranium samples

By: Marleny Arnoldi     23rd May 2019 Aim- and ASX-listed Aura Energy has produced its first samples of yellowcake product, as part of its Tiris uranium project’s definitive feasibility study (DFS). The company said in an announcement on Thursday that the product was regarded as saleable, with impurity levels in the product within... 

NPA starts prosecution of Aurora directors 

By: Marleny Arnoldi     23rd May 2019 Organisation Undoing Tax Abuse (Outa) on Thursday announced that the National Prosecuting Authority (NPA) would start its prosecution of the former directors of Aurora Empowerment Systems on May 28. A summons had been issued in March related to environmental and water transgressions at the... 

Use remote machinery to mine at depth ­– Jourdan 

By: Martin Creamer     23rd May 2019 Independent consultant Dr Paul Jourdan on Thursday called on South Africa to cease sending people down dangerous deep-level mines and introduce remote machinery to mine at depth. He was speaking at the Southern African Mining Supply Chain Conference and Strategy Workshop, which was hosted by the... 

Use remote machinery to mine at depth ­– Jourdan
Photo by Creamer Media
Dr Paul Jourdan at the SA Mining Supply Chain Conference.

Ghana seeks investors to mine bauxite to fund infrastructure

By: Bloomberg     23rd May 2019 Ghana is inviting investors to submit plans on how to tap the nation’s bauxite deposits as the government seeks to leverage more of its mineral resources to fund infrastructure. The government will receive proposals from interested parties until the end of the year on how to expand production and... 

India to surpass China as largest importer of coking coal by 2025

By: Marleny Arnoldi     23rd May 2019 Fitch Solutions maintains its forecast for an average coking coal price of $195/t for this year, stating that prices will remain elevated, with strong demand from China’s steel sector, as US–China relations continue to deteriorate and the probability rises of further economic support from the... 

India to surpass China as largest importer of coking coal by 2025

Zambia's Chamber of Mines warns of 'drastic' fall in copper output

By: Reuters     23rd May 2019 Zambia's 2019 copper output could be as much as 100 000 t lower than last year as changes to mining tax drive miners to cut production, the Chamber of Mines said on Thursday. "Present forecasts are that copper production, both concentrate and finished copper, will now be drastically lower than... 

Tshipi mine on track to meet three-million-tonne sales target

By: Marleny Arnoldi     23rd May 2019 ASX-listed Jupiter Mines says its 49.9%-owned subsidiary Tshipi é Ntle Manganese Mining’s Tshipi Borwa mine in South Africa, is on track to deliver on its three-million-tonne sales target for the 2020 financial year. The company remains focused on cost control, with free-on-board production... 

Tshipi mine on track to meet three-million-tonne sales target
Tshipi Borwa manganese mine

Bushveld establishes dividend policy following ‘transitional’ 2018

By: Marleny Arnoldi     23rd May 2019 Aim-listed Bushveld Minerals’ financial results for the year ended December 31, 2018, reflect its transition from a junior mining company to a significant vanadium producer. The company’s flagship vanadium platform includes a 74% controlling interest in mining and processing company Bushveld... 

Bushveld establishes dividend policy following ‘transitional’ 2018
Bushveld's Vametco vanadium mine

C$3.5m project supports Newmont Goldcorp’s 4.0 vision in Quebec

By: Creamer Media Reporter      23rd May 2019 Gold major Newmont Goldcorp’s vision to create Quebec’s first interconnected “mine of the future” received a boost on Wednesday, when a C$3.5-million project to connect the Eleonore mine to a high-speed network was unveiled. The project, which is to be delivered by non-profit organisation Eeyou... 

Ora's recapitalisation plans progress apace

By: Esmarie Iannucci     23rd May 2019 ASX-listed Ora Banda Mining, previously known as Eastern Goldfields, will raise A$30-million as part of efforts to recapitalize the company. Eastern Goldfields went into administration in 2018 after a A$75-million recapitalization transaction fell through. 

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