https://www.miningweekly.com
R/€ = 16.03 Change: 0.07
R/$ = 14.35 Change: 0.08
Au 1277.15 $/oz Change: -8.73
Pt 811.99 $/oz Change: -14.83
 

Australasia News

First Cobalt to delist from ASX

By: Esmarie Iannucci     2nd May 2019 Multi-listed First Cobalt has applied for removal from the official list of the Australian Bourse, with the company’s CHESS depository interests (CDI’s) likely to cease trading by June 13, with delisting expected by June 20. First Cobalt told shareholders on Thursday that the company’s average... 

ABR raises A$3.1m for Fort Cady

By: Esmarie Iannucci     2nd May 2019 ASX-listed American Pacific Borate and Lithium (ABR) will raise A$3.1-million through a share placement to progress its Fort Cady borate project, in Southern California. The company will issue more than 17.22-million shares, at a price of 18c each, to institutional and sophisticated investors,... 

Sipa shareholder takes greater stake

By: Esmarie Iannucci     2nd May 2019 Junior Sipa Resources on Thursday announced htat shareholder Ervin Vidor had increased his stake in the company to 17.6%, following the acquisition of another 122-million shares. The A$819 840 in proceeds raised from the share placement will be used to support Sipa’s copper exploration campaign... 

Cape Lambert resumes trading as DRC issues are solved

By: Esmarie Iannucci     2nd May 2019 Resources investment firm Cape Lambert has resumed trading on the ASX after issues around its Kipushi cobalt/copper tailings project, in the Democratic Republic of Congo, was cleared. Cape Lambert holds a 50% interest in the Kipushi tailings project, along with local entity Paragon Mining,... 

FAR raises A$45m for Senegal exploration

By: Esmarie Iannucci     2nd May 2019 Africa-focused oil and gas explorer FAR will raise A$45-million through a share placement to sophisticated and institutional investors, to fund its ongoing interest in the SNE field development, offshore Senegal. The company would be placing more than 818.8-million shares, at a price of 5.5c... 

Rio Tinto’s Kennecott Utah copper mine switches to renewable energy

By: Esmarie Iannucci     2nd May 2019 Mining major Rio Tinto will be permanently shutting the coal power plant at its Kennecott Utah copper project, switching the operation to renewable energy and reducing its annual carbon footprint at the mine by nearly 65%. The company announced on Thursday that Kennecott’s electricity needs would... 

Wesfarmers eyes lithium with A$776m cash bid for Kidman

By: Esmarie Iannucci     2nd May 2019 ASX-listed Wesfarmers is trying its hand at lithium, having launched a non-binding and conditional A$776-million cash offer for fellow-listed Kidman Resources. Wesfarmers, which recently launched a A$1.5-billion cash bid for mineral sands miner Lynas, is offering Kidman shareholders A$1.90 in... 

Wesfarmers eyes lithium with A$776m cash bid for Kidman

Venture a step closer to Riley restart

By: Esmarie Iannucci     2nd May 2019 ASX-listed Venture Minerals has struck an offtake agreement with Singapore’s Prosperity Steel United Singapore over its Riley iron-ore mine, in Tasmania. Under the terms of a binding term sheet, Prosperity has agreed to purchase all of the product produced at the Riley mine over the first two... 

Anglo American a ‘fundamentally different’ business  

By: Natasha Odendaal     2nd May 2019 As dual-listed Anglo American looks back on what has been described as another “very successful year”, the mining giant can look back on what is a significantly contrasting position less than a decade ago. Since 2012, Anglo American has shifted from a 30% mining margin to a 42% mining margin by... 

Anglo American a ‘fundamentally different’ business
Photo by Bloomberg
Mark Cutifani

Tiger scratches at funding

By: Esmarie Iannucci     1st May 2019 Copper producer Tiger Resources has secured $13.2-million in funding from senior lender Taurus Mining Finance Fund. Tiger said on Wednesday that the new finance facility will provide interim funding support for its ongoing operations in the Democratic Republic of Congo, and would allow the... 

GFG to invest heavily in Havilah

By: Esmarie Iannucci     1st May 2019 South Australian metals developer Havilah Resources has secured up to A$100-million in funding from Sanjeev Gupta’s GFG Alliance, through one of its members SIMEC Mining. The funding will be provided through a series of equity placements in Havilah, at a premium of up to 35%, over a three-year... 

Senex secures more offtake at Project Atlas

By: Esmarie Iannucci     1st May 2019 ASX-listed Senex Energy has inked another offtake agreement at its Project Atlas development, in Queensland. Under an initial two-year agreement signed with packaging manufacturer Orora, Senex will supply 1.1 PJ of natural gas, starting in January 2020, and 2.2 PJ starting in January 2021.  

Blackham's founding MD exits

By: Esmarie Iannucci     1st May 2019 Gold miner Blackham Resources has announced the ousting of its founding MD and CEO Bryan Dixon just a day after downgrading its production expectations for the 2019 financial year. Blackham told shareholders on Wednesday that Dixon and the company’s board had mutually agreed to terminate his... 

North Dune offers mine extension for Base

By: Esmarie Iannucci     1st May 2019 Mineral sands miner Base Resources has reported a mineral resource estimate of 171-million tonnes, grading an average of 1.5% heavy minera,s for 2.6-million tonnes of heavy minerals at the Kwale North Dune, at its Kwale operations, in Kenya. Mining at the Kwale operation is currently being... 

Fortescue hands out Eliwana contract

By: Esmarie Iannucci     1st May 2019 Iron-ore major Fortescue Metals has awarded a A$10-million electrical, communications and dry fire system contract to ASX-listed WestStar for its Eliwana mine, in the Pilbara. The scope of work will see WestStar subsidiary Simpec design, supply, construct, test and commission the electrical,... 

Nifty reset plan priced at A$162m

By: Esmarie Iannucci     1st May 2019 ASX-listed Metals X on Wednesday revealed the reset plan for its Nifty copper mine, in Western Australia, where it is targeting a production rate of around 28 000 t/y from the Phase 1 plan, by the March 2020 quarter. Metals X told shareholders that the Phase 1 plan, which is already under way,... 

Nifty reset plan priced at A$162m

Mineral Resources's Ebitda on the up

By: Esmarie Iannucci     1st May 2019 ASX-listed Mineral Resources on Wednesday has increased its earnings before interest, tax, depreciation and amortization (Ebitda) of between A$360-million and A$390-million, for the 2019 financial year. This was up from the previous guidance of between A$280-million and A$320-million estimated... 

Alacer on track to meet full-year guidance after strong first quarter

By: Creamer Media Reporter      30th April 2019 TSX- and ASX-listed Alacer Gold, which operates the Çöpler gold mine, in Turkey, produced 89 354 oz of gold in the quarter ended March 31, keeping it on track to meet its full-year guidance of producing 320 000 oz to 380 000 oz of gold. The company on Tuesday reported that the ramp-up of the... 

Glencore lowers full-year copper output guidance  

By: Tasneem Bulbulia     30th April 2019 Diversified miner Glencore has lowered its full-year production guidance for copper to 1.46-million tonnes, compared with the previously guided 1.54-million tonnes. The group, led by CEO Ivan Glasenberg, on Tuesday reported that its own sourced copper production for the first quarter of this year... 

Glencore lowers full-year copper output guidance
Photo by Creamer Media
Ivan Glasenberg

Societe Generale resigns as London gold and silver market maker

By: Reuters     30th April 2019 The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business. SocGen said this month it would cut 1 600 jobs to boost profits after poor performance... 

Cameby Downs expansion plans approved

By: Esmarie Iannucci     30th April 2019 The Queensland government has approved plans by coal miner Yancoal to expand its Cameby Downs mine, increasing production and expanding the mine life. Mines Minister Dr Anthony Lynham noted that Cameby Downs has been producing thermal coal for export since mid-2010, at the current run-of-mine... 

Newcrest maintains outlook despite dip in production

By: Esmarie Iannucci     30th April 2019 Australian gold major Newcrest Mining has maintained its full year production guidance, despite reporting a slight drop in production for the three months to March. Newcrest on Tuesday reported that gold production for the quarter was down 5% on the December quarter, from 654 849 oz to 623 124... 

Newcrest maintains outlook despite dip in production

Resolute's costs fall in March quarter

By: Esmarie Iannucci     30th April 2019 Gold miner Resolute Mining has reported a near quarter drop in all-in sustaining costs for the period ending March, on the back of a record quarter at its Syama operation, in Mali. The ASX-listed miner previously reported 98 105 oz of production for the three months to March, with the Syama... 

Origin's revenue soars on higher oil price

By: Esmarie Iannucci     30th April 2019 Energy major Origin Energy has seen a 53% jump in its liquefied natural gas (LNG) revenues in the three months to March, compared with the previous corresponding period, driven by higher oil prices. Origin reported production of 63.3 PJ of LNG from its 37.5% share in the Australia Pacific LNG... 

Nova delivers record quarter for Independence

By: Esmarie Iannucci     30th April 2019 Diversified miner Independence Group has reported record production from its Nova nickel/copper operation, in Western Australia, for the three months to March. Nickel production reached 8 375 t during the quarter, compared with the 7 574 t in the previous quarter, while copper production... 

Palladium sees wildest price swings since 2015 as investors exit

By: Bloomberg     30th April 2019 Palladium futures tumbled, spurring the wildest price swings since late 2015 as investors turned sour on the precious metal. The commodity used mostly in auto catalysts has been a profitable trade as supply shortages boosted prices of near-term contracts. That gave investors the incentive to sell... 

OceanaGold produces gold in line with guidance, despite weather trouble at US mine

By: Marleny Arnoldi     29th April 2019 TSX- and ASX-listed OceanaGold Corporation reported solid operating and financial performance from its Didipio and Macraes operations in the quarter ended March 31, while advancing organic growth initiatives at Waihi; however, the company reported continued mining challenges at Haile. The miner... 

OceanaGold produces gold in line with guidance, despite weather trouble at US mine

Nordgold increases Lefa mine investment

By: Simone Liedtke     29th April 2019 Diversified gold producer Nordgold has completed a significant investment programme at its Guinea-based Lefa mine. Capital expenditure in 2018, which was designed to both improve efficiencies at Lefa, while also extending its life-of-mine, increased to more than $70-million, from $48-million in... 

Zimplats reports 2% increase in third-quarter mined ore 

By: Simone Liedtke     29th April 2019 Improved fleet productivity resulted in a 2% quarter-on-quarter increase in ore mined by platinum group metals miner Zimplats in its third fiscal quarter, ended March 31. Tonnes milled, however, decreased by 2%, in line with a 2% decrease in the number of operating days from 92 days in the... 

Australia's Mt Isa zinc railway reopens to freight after February floods

By: Reuters     29th April 2019 A railway that carries zinc from major producers such as Glencore across Australia's outback has reopened to freight trains, the line's owner Queensland Rail said on Monday. The 1, 00-km (620-mile) rail line was cut by floods in February and is used by miners including Glencore, MMG Ltd and... 

Lower ore grades tip scales at Kwale

By: Esmarie Iannucci     29th April 2019 Mineral sands miner Base Resources has reported lower production in the March quarter as the ore grades from the Kwale operation lowered, as expected. Base on Monday reported that ilmenite production from Kwale, in Kenya, declined from the 108 465 t produced in the December quarter, to 87 179 t,... 

Co-O delivers stellar quarter

By: Esmarie Iannucci     29th April 2019 Higher grades at the Co-O gold mine, in the Philippines, has seen ASX-listed Medusa reporting higher production in the three months to March, compared with the previous quarter. Medusa on Monday reported that production during the three months to March reached 29 858 oz, compared with the 23... 

Pilbara increases output in March quarter

By: Esmarie Iannucci     29th April 2019 ASX-listed Pilbara Minerals has upped production in the three months to March, producing 52 196 t of spodumene concentrate, compared with the 47 857 t produced in the previous quarter. Spodumene concentrate sales for the quarter were down from the 46 598 t reported in the second quarter, to 38... 

MC Mining says revenue per saleable tonne down 14% in third quarter

By: African News Agency      29th April 2019 MC Mining said on Monday its revenue per saleable tonne declined by 14% to $75/t in the three months to March 31, the third quarter of its financial year. MC Mining said its Uitkomst Colliery reported run-of-mine coal production of 113 190 t, down 2.2% from the same period last year. 

First coal from Poplar Grove shipped

By: Esmarie Iannucci     29th April 2019 Coal miner Paringa Resources has shipped its first 1 500 t of washed coal from its Poplar Grove operation, in Western Kentucky. The maiden shipment was loaded into barges on the Green River, bound for cornerstone customer Louisville Gas and Electric Company and Kentucky Utilities Company. 

Troy keeps digging

By: Esmarie Iannucci     29th April 2019 Gold miner Troy Resources has reported another solid quarter in the three months to March, producing 13 333 oz, compared with the 14 227 oz produced in the previous quarter. Gold sales for the same period declined from 17 712 oz to 14 124 oz, with cash costs declining from $891/oz to $822/oz.... 

Political promises start ahead of election

By: Esmarie Iannucci     29th April 2019 The Australian resources sector has welcomed promises by the Federal Opposition to invest A$75-million into Geoscience Australia’s Exploring the Future initiative. Ahead of the federal election on May 18, Opposition leader Bill Shorten has vowed to invest A$75-million into exploration, saying... 

NSW backs A$250m Port Kembla LNG project

By: Esmarie Iannucci     29th April 2019 The New South Wales government has backed plans for the development of the A$250-million Port Kembla gas terminal being developed by the Australian Industrial Energy (AIE) consortium. The proposed terminal will have the ability to supply more than 100 PJ/y of liquefied natural gas (LNG),... 

NSW backs A$250m Port Kembla LNG project

Latest News

more

Latest Videos

more

Latest News: Africa and Europe

Latest News: Americas

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close