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Bavaria seeks fast-track German coal exit in snub to Merkel plan

By: Bloomberg     Updated 4 hours ago Bavaria, Germany’s industrial powerhouse, wants the nation to stop burning coal by 2030, eight years before Chancellor Angela Merkel’s deadline. Germany’s plan to exit the fossil fuel is unrealistic and won’t work unless a more aggressive target is set, Bavaria’s Prime Minister Markus Soeder... 

Bavaria seeks fast-track German coal exit in snub to Merkel plan

Fosun mulls takeover of $1bn Russian miner GV Gold

By: Bloomberg     Updated 3 hours ago A consortium led by Fosun International is in talks to acquire a majority stake in GV Gold, a Russian gold miner backed by BlackRock, according to people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry for a joint offer, the people said,... 

Eramet needs €1bn Gabon expansion, Argentina lithium mine

By: Mariaan Webb     Updated 7 hours ago French multinational mining and metals firm Eramet is searching for more than €1-billion in financing to fund an expansion of its manganese mine in Gabon, and to build a new lithium mine in Argentina. The company plans to raise its manganese ore production capacity from 4.3-million tons a year... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal 

By: Simone Liedtke     Updated 7 hours ago LSE-listed Acacia Mining says it “strongly disagrees” with a number of matters set out in a recent announcement by parent company Barrick Gold, adding that the announcement “appears to have ignored the value of [Acacia’s] portfolio of exploration and development assets, and the strategic value of... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal
Photo by Bloomberg
Barrick Gold CEO Mark Bristow

Gold gains to near highest since 2013 as bulls ‘back in control’

By: Bloomberg     24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

Gold gains to near highest since 2013 as bulls ‘back in control’

Galileo increases stake in Star Zinc project

By: Simone Liedtke     Updated 7 hours ago Aim-listed Galileo Resources has acquired the remaining Kabwe residual rights, including the Kashitu zinc willemite exploration prospect, as well as exercised its right to acquire a further 15% interest in Enviro Zambia from BMR Group for 9.6-million Galileo shares. Enviro Zambia owns 95% of... 

RWE reviews mine protest damage, says power plants not at risk

By: Bloomberg     23rd June 2019 erman utility RWE AG is reviewing damage done by environmental campaigners who accessed the company’s Garzweiler openpit mine in Germany’s Rhineland on Saturday. There were five arson attacks on pump stations and electricity transformers amid the protests, company spokeswoman Stephanie Schunck... 

Kibo mulls renewables cogeneration opportunities 

By: Simone Liedtke     Updated 3 hours ago In line with its strategy of incorporating long-term renewable energy solutions into its existing coal power projects, Africa-focused Kibo Energy has signed a collaboration agreement with ESS Tech to develop suitable baseload electricity storage solutions. Having recognised the increasing need to... 

Ivanhoe progresses with road to airport from Kamoa project

By: Marleny Arnoldi     Updated 2 hours 29 minutes ago Canada-headquartered Ivanhoe Mines says construction of the highway linking its Kamoa-Kakula copper project to the Kolwezi airport, in the Democratic Republic of Congo (DRC), is progressing rapidly with the onset of the country’s dry season. The 34-km-long east–west road is about 25% complete... 

Volt secures $1m working capital for Bunyu project’s development

By: Simone Liedtke     Updated 2 hours 36 minutes ago Tanzania-focused flake graphite development company Volt Resources has secured $1-million in working capital funding for the development of its Bunyu graphite project, in Tanzania. The funding includes $300 000 raised through the placement of just over 20.8-million shares at 2.1c a share, and a... 

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     Updated 2 hours 49 minutes ago Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

Pleasing Orion bankable points to fast project payback
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Rio Tinto starts drilling at Broadway’s Madison

By: Creamer Media Reporter      Updated 2 hours 55 minutes ago Kennecott Exploration, part of the Rio Tinto Group, has started with a drilling campaign at TSX-V-listed Broadway Gold Mining’s Madison copper/gold project, in the Butte region of Montana, in the US. The initial drilling programme consists of three drill holes targeting an area displaying... 

Detour says COO Bourchier tenders resignation

By: Mariaan Webb     Updated 3 hours ago Canadian miner Detour Gold on Monday announced that its COO, Frazer Bourchier, and its VP for investor relations, Laurie Gaborit, had resigned their positions and that they would leave the company at the end of the month. The resignations would cost the gold mining company about C$4.5-million and... 

Chantrell has until Thursday to match Agnico’s offer for Alexandria

By: Creamer Media Reporter      Updated 3 hours ago Toronto-headquartered Chantrell Ventures has until 23:59 on Thursday to amend its offer for junior gold miner and explorer Alexandria Minerals to match that of NYSE- and TSX-listed Agnico Eagle Mines. The board of directors of Alexandria has determined that the Agnico offer – announced nearly two... 

Capstone restarts Pinto Valley ops

By: Creamer Media Reporter      Updated 4 hours ago The Pinto Valley copper mine, 125 km from Phoenix, Arizona, has been safety restarted, following last week’s fire that led to a curtailment of operations. The mine site did not sustain any physical damage during the Woodbury fire, which by Sunday morning had ballooned to more than 96 000 acres... 

China's CNMC agrees to work on Madagascar rare earth project

By: Reuters     Updated 4 hours ago A unit of China Nonferrous Metal Mining Group (CNMC) said on Monday it had signed a non-binding memorandum with Singapore-listed ISR Capital that could see the Chinese firm work as a contractor on a rare earths project in Madagascar with rights to purchase products. China Nonferrous Metal... 

Eskom's gain South Africa's pain as investors balk at debt 

By: Bloomberg     Updated 5 hours ago President Cyril Ramaphosa’s latest pledge to support Eskom Holdings is good news for the cash-strapped electricity company -- but some investors are balking at the prospect of increased sovereign-bond issuance to pay for the bailout. Ramaphosa told lawmakers last week South Africa would bring... 

Eskom's gain South Africa's pain as investors balk at debt

Nigerian court adjourns Oando case against securities regulator to 22 July

By: Reuters     Updated 5 hours ago A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial... 

Resgen says final member confirms participation in lending syndicate for Boikarabelo

By: African News Agency      Updated 6 hours ago Energy resources firm Resource Generation (Resgen), which is listed on the ASX and the JSE, on Monday said the third and final member of the proposed lending syndicate for the construction of its Boikarabelo mine in South Africa had confirmed its participation in writing. It said the combined... 

India plans incentives for oil, natural gas E&P investors

By: Ajoy K Das     24th June 2019 The Indian government is planning to frame an incentive policy for oil and natural gas exploration and production (E&P) companies. The new policy will incorporate some of the financial incentives discontinued earlier, and the sops extended to E&P companies, even if they fail to bring exploratory... 

ONGC to outsource discovered small oil, gas fields while retaining ownership

By: Ajoy K Das     24th June 2019 In a bid to circumvent government plans to take away its discovered small fields (DSFs), national oil and natural gas exploration and production (E&P) major ONGC has decided to auction such assets under production enhancement contracts, while retaining ownership with itself. Company sources said... 

AVZ increases Manono stake

By: Esmarie Iannucci     24th June 2019 ASX-listed AVZ Minerals has struck a $5.5-million deal to acquire an additional 5% interest in the Manono lithium and tin project, in the Democratic Republic of Congo (DRC). AVZ on Monday announced that it would acquire an additional 5% interest in Manono from joint venture partner Dathomir... 

Indian power producers want more coal on rail to lower costs

By: Ajoy K Das     24th June 2019 Indian private thermal power companies are seeking to shift more coal from roads to State-run Indian Railways (IR) to bring down logistical costs. Private thermal power utilities reckon that higher dispatches of coal by State miner Coal India Limited (CIL) through IR will reduce the cost of... 

Northern Minerals completes debt agreement

By: Esmarie Iannucci     24th June 2019 Rare earths miner Northern Minerals has completed a A$7.5-million convertible debt agreement, with the funds earmarked to progress enhancement initiatives at the Browns Range project, n Western Australia. The convertible debt formed part of a greater A$15-million placement and convertible debt... 

Barminco wins A$800m Botswana contract

By: Esmarie Iannucci     24th June 2019 Mining services provider Ausdrill’s subsidiary Barminco has been awarded an A$800-million underground mining services contract at the Zone 5 mine, in Botswana. The five-year contract will include mine development, the establishment of underground mine infrastructure, diamond drilling and mine... 

Salt Lake starts commercial-scale SoP works

By: Esmarie Iannucci     24th June 2019 ASX-listed Salt Lake Potash has completed the construction of a commercial-scale sulphate of potash (SOP) brine evaporation pond at its Lake Way operation, in Western Australia, and has started the evaporation process. The evaporation ponds have been designed to receive the 1.2 GL of high-grade... 

Morrisson vows to remove investment hurdles

By: Esmarie Iannucci     24th June 2019 The resources sector has welcomed commitments by Prime Minister Scott Morrison to remove regulatory and bureaucratic barriers to business investment, with the Minerals Council of Australia (MCA) saying it could unlock up to A$170-billion of potential resource investment across Australia.... 

Morrisson vows to remove investment hurdles
Photo by Bloomberg
Australian MP Scott Morrison

Paladin sells idled Malawi mine to Hylea

By: Esmarie Iannucci     24th June 2019 Uranium miner Paladin Energy has struck a deal with ASX-listed Hylea Metals to divest of its shareholding in the Kayelekera mine, in Malawi, for A$5-million. Paladin owns 65% of the Kayelekera project, joint venture partner Chichewa holds a 20% interest and the Malawi government a 15% stake. 

Ribbon cut at Iluka's Cataby

By: Esmarie Iannucci     24th June 2019 Western Australian Premier Mark McGowan has official opened the A$270-million Cataby mineral sands mine, owned by ASX-listed Iluka Resources. Cataby is expected to average a a production of 200 000 t/y of synthetic rutile from 370 000 t/y of ilmenite, 50 000 t/y of zircon and 30 000 t/y of... 

EPA gives thumbs up to new A$1.27bn Fortescue mine

By: Esmarie Iannucci     24th June 2019 The Western Australian Environmental Protection Authority (EPA) has recommended environmental approval for iron-ore major Fortescue’s Eliwana iron-ore mine, in the Pilbara. The Fortescue board in May last year approved the $1.27-billion Eliwana mine and rail project, which will entail a new... 

South Korea's Posco drops plans for Chilean battery material plant

By: Reuters     24th June 2019 outh Korea's Posco has pulled out of a project to build battery parts in Chile, the Asian steelmaker said, little more than a year after winning guaranteed access to cheap lithium from top producer Albemarle. POSCO, together with partner Samsung SDI, won a 2018 Chilean government tender to build... 

Workers at Chile's Chuquicamata copper mine vote to continue strike

By: Reuters     24th June 2019 Labour unions at Chile's Chuquicamata copper mine voted on Saturday to reject the latest contract offer of government-controlled mining company Codelco, and to continue the week-long strike at the sprawling production site. The unions went on strike eight days earlier after initial negotiations... 

Orion education initiative ‘well received’, says COO

By: Simone Liedtke     21st June 2019 JSE- and ASX-listed Orion Minerals’ introductory mining familiarisation short courses within the Siyathemba municipality, in the Northern Cape, have raised public awareness of the mining industry and the opportunities it offers, the company reports. The five-day short courses have been offered... 

Rio and ArcelorMittal tell different sides of iron-ore story

By: Bloomberg     21st June 2019 In the world of metals and mining, sometimes it’s better to sell the raw product rather than the finished one. This seems to be a lesson for investors who chose to hold shares in ArcelorMittal rather than Rio Tinto Group this year. Despite nagging trade tensions and fears about global growth,... 

Rio and ArcelorMittal tell different sides of iron-ore story

Silver Mines’ enviro study confirms minimal impact, to be submitted soon

By: Marleny Arnoldi     21st June 2019 ASX-listed Silver Mines confirmed on Friday that the environmental impact statement (EIS) for its Bowdens silver project, in New South Wales, was in the final stages before being submitted for development consent to the New South Wales Department of Planning and Environment. The EIS affirms... 

Insimbi to acquire metals trading firm Treppo

By: Tasneem Bulbulia     21st June 2019 JSE-listed Insimbi Industrial Holdings will see ISB acquire Treppo, which is involved in the sourcing, trading and buying of recycled metals – mainly ferrous metals or steel – in the greater Gauteng area. Through this transaction, Insimbi will expand its ferrous business and its client base,... 

Venus Metals, Rox to collaborate on four projects

By: Marleny Arnoldi     21st June 2019 ASX-listed Venus Metals has successfully formed four joint ventures in Western Australia with ASX-listed Rox Resources, with Venus receiving $2.5-million and 25-million shares from Rox. The Youanmi Gold Mine Joint Venture (OYG JV) is 50%-owned by each company, with Rox having the obligation to... 

Kefi starts fieldwork at Saudi Arabia project

By: Simone Liedtke     21st June 2019 Aim-listed Kefi Minerals on Friday reported that fieldwork had started at its Hawiah exploration licence, in Saudi Arabia. The fieldwork began with a modest cost but a potentially high-impact induced polarisation and resistivity geophysical survey aimed at better defining the large volcanogenic... 

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