Au 1272.92 $/oz Change: -0.69
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Antofagasta copper output rises as China fears threaten demand

By: Reuters     Updated 3 hours ago Chile-focused copper miner Antofagasta posted a 22.6% jump in first-quarter copper production and maintained its full-year output outlook, despite the possibility that China may ease stimulus measures which could hurt prices. Antofagasta said on Wednesday production in the quarter was bolstered... 

Antofagasta copper output rises as China fears threaten demand
Antofagasta CEO Iván Arriagada

World's central banks want more gold as India joins spree

By: Bloomberg     Updated 2 hours 30 minutes ago India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves. The Reserve Bank of India’s purchases are part of a wider picture across... 

World's central banks want more gold as India joins spree

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Alrosa goes deeper at Aikhal underground mine

By: Creamer Media Reporter      23rd April 2019 Russian diamond major Alrosa has announced an investment of ten-billion ruble in a project that will extend the life of the Aikhal underground mine up to 2044, sustaining 500 jobs. The mining company has approved the stripping and mining of Aikhal pipe reserves at the levels of between 100 m and... 

Polyus reports strong first quarter

By: Creamer Media Reporter      23rd April 2019 Russian gold miner Polyus produced 600 700 oz of gold in the first quarter of 2019, which is 19% more than what the company produced in the same period a year earlier. Compared with the fourth quarter of 2018, total output was down 6%, and the London-listed gold miner explained on Tuesday that... 

Ferrexpo says charity could have 'misappropriated' funds

By: Reuters     23rd April 2019 Ukraine-focused iron-ore pellet producer Ferrexpo on Tuesday said that some funds of a charity it donates to could have been "misappropriated" as indicated by findings of an independent investigation. The company said although the Independent Review Committee's investigation into Blooming Land's... 

Anglo steps up defense to repel Agarwal's interest – Telegraph 

By: Bloomberg     23rd April 2019 Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he... 

Anglo stalwart appointed Pensana CEO  

By: Esmarie Iannucci     23rd April 2019 ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American’s operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed... 

De Beers COO Nancy Liu to lead Forevermark

By: Marleny Arnoldi     23rd April 2019 Diamond miner De Beers Group has appointed its COO Nancy Liu CEO of its Forevermark brand. She succeeds Stephen Lussier, who remains De Beers group executive for consumer, brands VP and now also Forevermark chairperson.  

De Beers COO Nancy Liu to lead Forevermark
Forevermark chairperson Stephen Lussier

IronRidge granted exploration licence for Côte d'Ivoire gold project

By: Tasneem Bulbulia     23rd April 2019 Aim-listed, Africa-focussed minerals exploration company IronRidge Resources has been granted an exploration licence for the Zaranou gold project, in Côte d'Ivoire. It has also secured an extension to the exclusive due diligence period for the project. 

Vast wraps up sale of Zim gold assets

By: Creamer Media Reporter      23rd April 2019 Shareholders in Vast Resources on Tuesday approved the sale of the company’s Zimbabwe gold assets, including the Pickstone Peerless and Eureka mines. Shareholder approval was the final condition precedent to the sale of Aim-listed Vast's 50.01% interest in Ronquil Enterprises, through which it... 

Centamin's Sukari exceeds first-quarter output target

By: Creamer Media Reporter      Updated 1 hour 52 minutes ago Dual-listed Centamin's Sukari gold mine, in Egypt, produced 116 183 oz of gold in the first quarter of this year, exceeding the targeted output of 105 000 oz to 115 000 oz. The TSX- and LSE-listed company said the openpit operation had performed broadly in line with plan, while the underground... 

India’s NMDC targets 63Mt by 2021/22

By: Ajoy K Das     Updated 3 hours ago Indian iron-ore miner NMDC Limited will ramp up its production capacity to 63-million tonnes a year by 2021/22, from 32-million tonnes achieved in 2018/19. The company is also planning to reduce logistics and transportation costs by 55% by constructing a slurry pipeline. 

Red Rock raises cash to advance DRC exploration

By: Creamer Media Reporter      Updated 3 hours ago Aim-listed Red Rock Resources has raised £323 750 through the placing of 63.48-million new ordinary shares at 0.51p. "The placing ensures the company can manage its cash flow prudently while driving an increased tempo of exploration in the [Democratic Republic of the Congo (DRC)] as the scale of... 

India’s oil imports to surge on US actions

By: Ajoy K Das     Updated 3 hours ago The US administration’s decision to end sanction waivers for Iranian oil imports by India and seven other countries will trigger a surge in India’s oil import bill even as it scurries to secure new energy sources. The government’s preliminary estimates for 2018/19 estimate the Indian oil import... 

India’s Coal Ministry sets growth target for CIL

By: Ajoy K Das     Updated 3 hours ago India’s Coal Ministry has set a production target of 655-million tonnes for State-run miner Coal India Limited (CIL) for 2019/20. This compares with production of 607-million tonnes achieved by CIL during 2018/19, which is a shade below the 610-million-tonne target set by the Ministry for the year. 

Alufer shifts focus to expansion of Guinea bauxite mine

By: Creamer Media Reporter      Updated 3 hours ago Independent mineral exploration and development company Alufer Mining has started detailed engineering studies for the proposed expansion of production at its Bel Air bauxite mine, in Guinea, to ten-million tonnes a year. The company on Wednesday said operations were on track to produce the... 

Fortune finds potential new site for Nico refinery

By: Creamer Media Reporter      Updated 3 hours ago Cobalt project developer Fortune Minerals has entered into an option to buy an alternative site to construct the proposed hydrometallurgical refinery that will process metal concentrates from the planned Nico cobalt/gold/bismuth/copper mine, after the rural municipality of Corman Park last month... 

Metallica pushes back Urquhart start

By: Esmarie Iannucci     Updated 3 hours ago The share price of ASX-listed Metallica Minerals fell by nearly 18% on Wednesday on news that the company had failed to access export facilities for its Urquhart bauxite project, in the Cape York Peninsula, pushing back the start of mining. Metallica and its joint venture (JV) partner in... 

Mineral Resources completes note offering

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed Mineral Resources (MRL) has completed a $700-million senior unsecured note offering. “Over recent years, MRL’s business has grown and we now have established operations at mines with anticipated lives of between 10 and 30 years. The offering of the notes represents an important... 

Vanggatfontein coal deliveries to Eskom interrupted as striking miners dismissed

By: Simone Liedtke     Updated 3 hours ago Production at Wescoal’s Vanggatfontein mine, in Mpumalanga, will be suspended for six to eight weeks after the mining contractor dismissed its 274 employees at the mine following unlawful industrial action – that turned violent – earlier this month. The mining contractor and Wescoal have, on... 

Vanggatfontein coal deliveries to Eskom interrupted as striking miners dismissed

Mt Gibson gets ready to ship Koolan Island ore

By: Esmarie Iannucci     Updated 3 hours ago Junior Mount Gibson Iron has restarted high-grade iron-ore sales from its Koolan Island operation, in Western Australia. The ASX-listed miner on Wednesday said that some 72 000 t of high-grade hematite iron-ore, averaging 65% iron, is currently being loaded onto a bulk carrier scheduled to... 

Argyle delivers a white treasure

By: Esmarie Iannucci     Updated 3 hours ago Mining major Rio Tinto has recovered a 28.84 ct gem quality white diamond from its Argyle diamond mine, in Western Australia, marking one of the largest gem quality white diamonds in its 35-year history. Named Argyle Octavia™ in recognition of its octahedral shape, this rough diamond will be... 

Gindalbie/Ansteel deal gets FIRB backing

By: Esmarie Iannucci     Updated 4 hours ago The Foreign Investment Review Board has approved Hong Kong-based Ansteel’s takeover of ASX-listed Gindalbie Metals. Gindalbie in March announced a 2.6c a share takeover offer from Ansteel, which currently holds a 35.71% interest in Gindalbie and is a 52.16% shareholder in the Karara project. 

Aurelia faces tough quarter

By: Esmarie Iannucci     Updated 4 hours ago Junior gold miner Aurelia Metals has reported a weaker quarter in the three months to March, as gold grades at the Peak mine, in New South Wales, underperformed. Group gold production in the March quarter declined to 23 323 oz, down from the 35 834 oz reported in the previous quarter, with gold... 

Alaska mine expected to lead Northern Star production recovery

By: Esmarie Iannucci     Updated 4 hours ago Gold miner Northern Star Resources is poised for a record quarter of production during the three months to June, as the Pogo mine, in Alaska, gears up to increase its output. Northern Star on Wednesday reported that gold production in the March quarter reached 186 255 oz, down slightly from the... 

Alaska mine expected to lead Northern Star production recovery
Photo by Bloomberg
Northern Star CEO Bill Beament

Agnico bets on high grade gold as it digs in Canada's remote north

By: Reuters     Updated 4 hours ago Agnico Eagle Mines is doubling down this year on Nunavut, Canada’s least developed territory, betting that the high-grade gold ores and slim competition there will offset the risks of digging in the remote location in the far north. For miners desperate to shore up reserves, the choice is often... 

Agnico bets on high grade gold as it digs in Canada's remote north

Teck starts 'quiet dialogue' on selling some copper projects

By: Bloomberg     Updated 4 hours ago Teck Resources, focusing on its massive expansion of the Quebrada Blanca mine in Chile, expects to sell some or all of its stakes in two smaller Latin American copper projects by next year, CEO Don Lindsay says. The Zafranal and San Nicolas projects could be sold by early 2020, Lindsay said... 

BMW to buy cobalt direct from Australia, Morocco for EV batteries

By: Reuters     Updated 5 hours ago German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative... 

China's Tsingshan expands plans for Zimbabwe steel plant

By: Reuters     Updated 5 hours ago China's Tsingshan Holding Group has expanded its plans for a steel plant in Zimbabwe to include a power plant and a lithium concession, Zimbabwe's Mines Minister Winston Chitando said on Tuesday. President Emmerson Mnangagwa's government is trying to woo foreign investors, especially in mining,... 

Guinea transfers oversight of State mining company to Presidency

By: Bloomberg     23rd April 2019 The office of Guinean President Alpha Conde is assuming oversight of the West African nation’s State-owned mining company in a move that will hand him more authority over the country’s holdings in some of world’s biggest bauxite deposits. The Presidency will take command of Societe Guinneenne du... 

IMF slates unpredictable policies in report Tanzania blocked

By: Bloomberg     23rd April 2019 The International Monetary Fund said that Tanzania’s economy is being harmed by the government’s “unpredictable and interventionist policies” in a report whose release the East African country has blocked. Tanzania refused to authorize the publication of the report, the IMF said Wednesday in a... 

Xolobeni community asks Ramaphosa to stop Mantashe's upcoming visit

By: African News Agency      23rd April 2019 The Amadiba Crisis Committee on Monday asked President Cyril Ramaphosa and "democratic institutions" to stop Mines Minister Gwede Mantashe from visiting Xolobeni, where there is a raging dispute over keeping the area pristine versus allowing mining activities to go ahead. Mantashe's last visit to... 

Red 5 reports a solid March quarter

By: Esmarie Iannucci     23rd April 2019 Junior gold miner Red 5 has reported a steady production quarter in the three months to March, with gold production reaching 24 187 oz, compared with the 26 118 oz produced in the previous quarter. Gold sales for the March quarter declined slightly from 27 149 oz in the previous quarter, to 23... 

Laneway pours first gold in Qld

By: Esmarie Iannucci     23rd April 2019 First gold has been poured from the Agate Creek gold project, in North Queensland, ASX-listed Laneway Resources reported on Tuesday. The first gold pour was achieved within ten weeks of the grant of a mining lease, and three dore bars collectively weighing 22 kg of gold and silver bullion have... 

Apollo raises A$6m for exploration

By: Esmarie Iannucci     23rd April 2019 ASX-listed Apollo Consolidated is hoping to raise A$6-million through a share placement to accelerate drilling at its Lake Rebecca gold project, in Western Australia. The junior on Tuesday said that it had agreed to place 30-million new fully paid ordinary shares, at a price of 20c each, to... 

Echo updates Yandal BFS

By: Esmarie Iannucci     23rd April 2019 A revised bankable feasibility study into the Yandal gold project, in Western Australia, has estimated that a capital injection of A$42-million would be required to bring the project into production. The BFS is based in the refurbishment of ASX-listed Echo Resources’ Bronzewing processing plant... 

Northern Minerals lines the coffers with another A$15m

By: Esmarie Iannucci     23rd April 2019 Rare earths miner Northern Minerals will undertake a further A$15-million capital raise to repay its R&D financier. The new capital raise comes just a month after Northern Minerals undertook a A$20-million share placement to fund working capital expenditure and exploration. 

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