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Asia News

Lynas revenues fall in H1

By: Esmarie Iannucci     28th February 2019 The share price of ASX-listed Lynas tumbled more than 7% on Thursday after the company reported a less-than-stellar interim results. Despite a 9% increase in production volumes during the six months ended December, Lynas reported a fall in revenues from A$200.9-million reported in the previous... 

Implats pumps cash, slashes debt in laudable turnaround 

By: Martin Creamer     28th February 2019 A higher platinum group metals (PGMs) rand basket price boosted by increases in palladium, rhodium and nickel resulted in an laudable operational and financial turnaround by Impala Platinum (Implats) in the six months to end December, when earnings before interest tax depreciation and... 

Implats pumps cash, slashes debt in laudable turnaround
Photo by Creamer Media
Implats CEO Nico Muller

ONGC Videsh, partners sign deal to sell LNG from Mozambique’s Rovuma offshore

By: Ajoy K Das     27th February 2019 India’s national oil, gas exploration and production major, ONGC Limited, has concluded long-term sale and purchase agreements for a total of 9.5-million tons a year from future production from its Rovuma Offshore Area I, in Mozambique, the company announced this week. “The project is progressing... 

India’s Assocham wants to put stop to ‘resource hoarding’

By: Ajoy K Das     27th February 2019 The mining industry in India has requested that the Mines Ministry include a provision in auction rules that will prevent successful bidders hoarding resources. The industry has pointed out that a large number of bidders at mineral block auctions aggressively put in bids and secure mineral assets... 

Freight rates drop as more ships become available – Assore 

By: Martin Creamer     27th February 2019 Freight rates have dropped quite substantially since the iron-ore tailings dam tragedy in Brazil ,with more vessels becoming available, Assore CEO Charles Walters reports. Since the Brumadinho dam disaster, some 30-million tonnes of iron-ore supply have been withdrawn from the market. 

Freight rates drop as more ships become available – Assore
Photo by Creamer Media
Assore CEO Charles Walters

Nzuri receives takeover bid from Chinese trader

By: Esmarie Iannucci     27th February 2019 Copper junior Nzuri Copper has received a takeover offer from a subsidiary of Chinese metals trader Chengtun Mining Group, which is offering shareholders 37c a share in cash for their holding in Nzuri. The directors of Nzuri have urged shareholders to accept the offer, which values the company... 

Assore earnings up, dividend maintained 

By: Martin Creamer     26th February 2019 Mining and marketing company Assore on Tuesday reported 20% higher headline earnings to R2.92-billion in the six months to December 31, buoyed by an improved price basket and weaker exchange rate. Assore's jointly controlled Assmang recorded headline earnings of R4.29-billion, an increase of 23%... 

Assore earnings up, dividend maintained
Assore image on latest presentation booklet.

Mick Davis’ Niron believes Zogota can unlock Guinea’s rich potential 

By: Martin Creamer     25th February 2019 Mining luminary Mick Davis’s new company Niron Metals on Monday expressed the belief that the development of the Zogota iron-ore endowment in Guinea had the potential to unlock the country’s rich resources for the benefit of all stakeholders.  Davis, who is well known for his impressive record in... 

Mick Davis’ Niron believes Zogota can unlock Guinea’s rich potential
Photo by Creamer Media
A flashback to Mick Davis' Xstrata days with South Africa's former Mineral Resources Minister Phumzile Mlambo-Ngcuka.

Barrick sees Newmont merger as unprecedented value creator 

By: Martin Creamer     25th February 2019 Gold mining company Barrick on Monday announced that it had made a proposal to the Newmont board of directors to merge with Newmont in an all-share transaction, saying a combination of the two companies would form the world’s best gold company with unprecedented potential for value creation.... 

Barrick sees Newmont merger as unprecedented value creator
Barrick president and CEO Dr Mark Bristow

India offers fresh incentives to oil, gas E&P companies

By: Ajoy K Das     25th February 2019 n a bid to increase domestic output and fuel investments in the sector, the Indian government has approved offering marketing and pricing freedom to oil and natural gas exploration and production (E&P) companies for their yet-to-be developed assets. In addition, the government has offered a... 

India bans private firms from mining beach sand

By: Ajoy K Das     25th February 2019 The Indian government has banned beach sand mining by private companies in a bid to check illegal sand mining and coastal erosion from rampant violations of mining rules across coastal states. “Coastal areas in Kerala, Tamil Nadu, Odisha and Andhra Pradesh where beach sand is laced with rare... 

CIL coal washery project delays attract Coal Ministry flak

By: Ajoy K Das     25th February 2019 tate-run Coal India Limited’s (CIL’s) ambitious plans of ramping up coal washing capacity has been hit by time overruns. The delays in operationalising various coal washery projects has attracted criticism from the Coal Ministry at a recently held review meeting, during which the Coal Secretary... 

Mpumi Zikalala to head De Beers managed operations 

By: Martin Creamer     25th February 2019 De Beers Group has announced an initiative to consolidate its mining assets in South Africa and Canada into one business called De Beers Group Managed Operations. The new business will streamline operational management and identify synergies to create a more sustainable business in the two... 

Mpumi Zikalala to head De Beers managed operations
MD De Beers Broup Managed Operations Nompumelelo (Mpumi) Zikalala

Too much zinc has miners begging for smelters as new mines open

By: Bloomberg     25th February 2019 A likely rebound in the amount of raw zinc produced this year could have miners "begging smelters” to refine the metal used to galvanize steel, potentially boosting their fees to the highest in two years. Supplies of the refined metal have been tight following smelter disruptions in China. This... 

Australia Minister denies report of China coal ban

By: Esmarie Iannucci     22nd February 2019 The Australian government has moved to allay shareholder fears after the share prices of Australian coal miners tumbled on news that China’s northern port of Dalian had banned coal imports from Australia, and placed an overall cap of 12-million tonnes for coal imports during 2019. Trade,... 

Australia Minister denies report of China coal ban

De Beers says laboratory-grown diamond wholesale prices fall by up to 60%

By: Reuters     22nd February 2019 Wholesale prices for laboratory-grown diamonds have fallen by up to 60% since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall. De Beers, part of mining group Anglo American, shocked the... 

UG2 outperforms as Sibanye positions for new world ­  

By: Martin Creamer     21st February 2019 The soaring prices of rhodium and palladium have put new focus on the upper group two (UG2) reef, for long the poor cousin of Merensky reef in the hierarchy of platinum group metals (PGMs) mining. Merensky's predominant platinum content has made it the preferred reef for decades but UG2 is... 

UG2 outperforms as Sibanye positions for new world ­
Sibanye-Stillwater CEO Neal Froneman's results presentation reported on by Mining Weekly Online's Martin Creamer. Photograph: Creamer Media's Dylan Slater. Video: Creamer Media's Darlene Creamer.

Is Anglo finally getting ready to join mining's buyback club?

By: Bloomberg     21st February 2019 Anglo American remains the only giant miner not buying back shares, but that doesn’t mean it’s not thinking about it. The world’s biggest producers, shunning growth and reluctant to launch a major new deal spree, have been handing record amounts of money back to shareholders in the recent years.... 

India's Adani could win Carmichael mine approval within 2 years - Queensland resources official

By: Reuters     21st February 2019 India's Adani Enterprises could theoretically win environmental approval for construction of the Carmichael coal mine in Australia in the next two years, a Queensland state resources official said, despite opposition from activists concerned about its impact on the Great Barrier Reef. The firm,... 

Strike-hit but upbeat Sibanye confident of value uplift as precious metals shine 

By: Martin Creamer     21st February 2019 Precious metals company Sibanye-Stillwater expressed confidence on Thursday that the global precious metals surge would enable it to deliver value despite the prolonged strike challenge that the company is contending with. The company reported 8%-lower earnings before interest, taxes,... 

Strike-hit but upbeat Sibanye confident of value uplift as precious metals shine
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Glencore auditing 140 slimes dams 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore is auditing 140 slimes dams, 65 of them active and 75 of them closed. The company has been undertaking detailed assessments and audits of all material tailings storage facilities (TSFs) over the past three years, after accumulating a TSF... 

Glencore auditing 140 slimes dams
Photo by Glencore
Fifty-one percent of Glencore's tailings storage faciities are upstream dams.

Argentina to share lithium geological information with India, promote JVs for projects

By: Ajoy K Das     20th February 2019 Argentina has offered to share lithium geological information for exploration with India as it aims to promote government-backed joint venture (JV) mining projects in the Latin American nation. The Geological and Mining Survey of Argentina would share geological information with its Indian... 

Coal capped at 150 Mt/y – Glencore 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore has capped its coal capacity at 150-million tonnes of coal a year, a figure that it is close to and which it will not exceed. The company has been working on the cap with its investors since 2016 in the interests of the transitioning to a low... 

Coal capped at 150 Mt/y – Glencore
Photo by Glencore
Glencore is using wind turbine generated energy in Canada and Australia

Glencore ups low carbon transition, limits coal output

By: Martin Creamer     20th February 2019 Diversified mining company Glencore said on Wednesday that it was furthering its commitment a low carbon transition, following engagement with the investor signatories of the Climate Action 100+ initiative. As one of the world’s largest diversified mining companies, Glencore sees itself as... 

Glencore ups low carbon transition, limits coal output
Glencore CEO Ivan Glasenberg

Iamgold adds 3.4Moz to mineral reserves

By: Creamer Media Reporter      20th February 2019 Canada-headquartered gold miner Iamgold has increased its attributable proven and probable gold reserves by 23% to 17.9-million ounces at the end of 2018, from 14.5 million ounces of gold at the end of 2017. The addition of 3.4-million ounces was primarily owing to the conversion of resources to... 

India relooks revenue sharing contracts for auction of oil, gas blocks

By: Ajoy K Das     19th February 2019 The Indian government is having second thoughts over continuing with revenue sharing agreements in contracts with successful bidders at auction of oil and natural gas fields. While no decision has been taken yet, a section within the government is backing reverting to an earlier regime... 

India puts private coal mining on the backburner

By: Ajoy K Das     19th February 2019 Opening up of the Indian coal sector for commercial mining by private miners has officially been put on the backburner. The move to open up commercial mining and auction off coal blocks to private miners for production without any end-use restrictions and a free pricing regime has been hanging... 

Brazil iron-ore tragedy brings home reality of mining risk – Kumba  

By: Martin Creamer     19th February 2019 Following 58 mineworkers suffering fatal occupational accidents in South Africa in 2018, Kumba Iron Ore CE Themba Mkhwanazi on Tuesday drew attention to 2019 beginning globally with the tragic loss of life at Brumadinho, in Brazil, as a result of an iron-ore tailings dam collapse that killed 170... 

Brazil iron-ore tragedy brings home reality of mining risk – Kumba
Mining Weekly Online’s Martin Creamer reports on Kumba Iron Ore. Video: Creamer Media’s Nicholas Boyd.

Price premiums boosting quality-focused Kumba Iron Ore  

By: Martin Creamer     19th February 2019 South Africa’s Kumba Iron Ore, which stands head and shoulders above its peers when it comes to iron-ore quality, is achieving major price premiums well above historical heights. Structural change and strong growth in particularly the China steel market has placed the Anglo American group company... 

Price premiums boosting quality-focused Kumba Iron Ore
Mining Weekly Online’s Martin Creamer reports on Kumba Iron Ore. Video: Creamer Media’s Nicholas Boyd.

Kumba pays dividend, boosts safety, explores, creates local jobs

By: Martin Creamer     19th February 2019 Product-improving  Kumba Iron Ore generated hefty operational cash flow, paid a competent final 2018 cash dividend, pressed on with exploration in a new area and supported the creation of 2 600 new jobs in the local community, during a fatality-free, safety-boosted year, characterised by higher... 

Kumba pays dividend, boosts safety, explores, creates local jobs
Kumba Iron Ore CE Themba Mkhwanazi

Intensification drilling under way at Botswana Diamonds’ Thorny River

By: Tasneem Bulbulia     18th February 2019 Aim- and BSE-listed exploration company Botswana Diamonds has started with the planned intensification drilling on its Thorny River prospect in South Africa, with the first four holes having intersected diamonds at predicted thicknesses and depths.  The programme, which comprises the drilling of... 

Constitutional Court upholds Aquila’s Gravenhage manganese mining right

By: Tasneem Bulbulia     18th February 2019 The Constitutional Court has upheld a High Court judgment granting China-based Baowu Group subsidiary, Aquila Steel, a mining right over its Gravenhage manganese deposit, located in South Africa’s Northern Cape province. Aquila’s planned development of Gravenhage has been delayed for several... 

Cash-flush Amplats ups dividend, studies 100 MW solar possibility

By: Martin Creamer     18th February 2019 The deaths of two mineworkers at the Amandelbult mine marred an outstanding performance by Anglo American Platinum (Amplats), which has paid out a total of R3-billion cash in dividends for the 12 months to end December, recorded record production from the Mogalakwena, Unki and Kroondal mines,... 

Cash-flush Amplats ups dividend, studies 100 MW solar possibility
Photo by Creamer Media
Anglo American Platinum CEO Chris Griffith

Miner Vale says fire to halt operations at Malaysia distribution center

By: Reuters     15th February 2019 Brazilian miner Vale SA said a fire broke out on Friday in its distribution center in Malaysia, temporarily affecting shipments, according to a securities filing. Vale added that the fire caused "only material damages" and that operations are likely to resume in 10 to 15 days. 

Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Nevada like Witwatersrand of 1970s – Bristow
Barrick Gold CEO Dr Mark Bristow

Petropavlovsk says IRC facility refinanced

By: Simone Liedtke     15th February 2019 Russian miner Petropavlovsk announced on Friday that it had reached an important step in concluding the refinancing of a $240-million facility that Hong Kong-based IRC, in which it is a large shareholder, has with the Industrial and Commercial Bank of China (ICBC). Petropavlovsk is the guarantor... 

Weaker prices hit Silvercorp Q3 performance

By: Nadine James     15th February 2019 TSX-listed Silvercorp Metals, which owns and operates mines in China, on Thursday reported a net income of $8.7-million for the third quarter ended December 31 – representing a 31% year-on-year decline with the company achieving a net income of  $12.7-million in the third quarter of 2018. The... 

Tin use in batteries may rise to 60 000 t by 2030 – industry group

By: Reuters     15th February 2019 Tin could see a surge of new demand from lithium-ion batteries for electric vehicles and energy storage of up to 60 000 t a year by 2030, the International Tin Association (ITA) said on Thursday. Investors have been excited about the prospects for increased consumption of other metals, such as... 

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