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$62m Zimbabwe smelter heeds local beneficiation call 
By: Martin Creamer 16th May 2019 The $62-million smelter at Unki Mine’s existing complex is a strategic investment, which meets local beneficiation commitments, Anglo American Platinum said on Thursday, when it opened the completed installation at a ceremony in Shurugwi, Zimbabwe. The smelter investment is indicative of the... →
Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit
By: Martin Creamer 15th May 2019 Platinum group metals and chrome mining company Tharisa Minerals has not allowed lower half-year production, profit and cash flow to get in the way of declaring an interim dividend. The Johannesburg- and London-listed company declared a $0.005-a-share payout on earnings a share of $0.4c, in... →
Tharisa Minerals CEO Phoevos Pouroulis.
Greenland optimises Kvanefjeld economics
By: Esmarie Iannucci 15th May 2019 An optimised feasibility study into the Kvanefjeld rare earths project, in Greenland, has estimated a $31-million increase in annual revenue, at current rare-earth prices. ASX-listed Greenland Minerals on Wednesday reported that the optimised study had estimated an 8% increase in rare-earth... →
Trade war spurs 'change in attitude' on gold for spooked markets
By: Bloomberg 15th May 2019 Donald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge. Gold open interest, a tally of outstanding futures contracts, surged the most since mid-2016 on Monday to the highest in more than seven weeks. Prices of the metal have advanced... →
Pure Gold to list on London main market next week
By: Creamer Media Reporter 15th May 2019 Canada-focused gold development company Pure Gold, which owns the Madsen gold project in Red Lake, Ontario, will be listing on the main market of the LSE next week. The London listing will be a dual listing, as Pure Gold already maintains a listing on the TSX-V. →
Polyus capex to accelerate in second and third quarters
By: Reuters 14th May 2019 Russia's largest gold producer Polyus said on Tuesday it plans to materially accelerate capital expenditure in the second and third quarters of the year, without exceeding the $725-million it expects to spend in the year as a whole. "We still expect to spend $725-million across all or business... →
President's correct, S Africans need to act together to realise economic opportunities – Baissac 
By: Martin Creamer 14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... →
Petra sells 424.89 ct diamond for nearly $15m
By: Creamer Media Reporter 14th May 2019 London-listed Petra Diamonds has sold the 424.89 ct Legacy of the Cullinan Diamond Mine diamond to Stargems Group/Choron for just under $15-million. The exceptional D-colour Type IIa diamond was mined from the Cullinan C-Cut and adds to the most famous diamonds to have originated from the... →
BHP to keep Nickel West, Rio looks to Serbian lithium deposit for battery boom
By: Reuters 14th May 2019 Global miner BHP will hold on to the Australian nickel operations it previously put up for sale, while Rio Tinto is working on copper and lithium projects as the mining industry bets on demand for electric vehicle (EV) batteries. The biggest mining companies say they are well positioned to... →
Ariana gets ready for 2 000 m drilling
By: Marleny Arnoldi 14th May 2019 Aim-listed Ariana Resources is gearing up for a 2 000 m drilling programme at its Salinbas gold project, where it was recently granted a ten-year renewal of its licence. The company has set up a reverse circulation drill rig to soon start the drilling programme, and MD Dr Kerim Sener says it... →
Savannah eager to benefit from France, Germany battery consortium
By: Marleny Arnoldi 14th May 2019 Aim-listed Savannah Resources has welcomed France and Germany’s establishment of a European cross-border battery cell consortium. The consortium aims to develop next-generation batteries for electric vehicles. →
Higher export prices, weaker exchange rate to underpin Kumba’s interim financials
By: Simone Liedtke 14th May 2019 JSE-listed Kumba Iron Ore expects to deliver a stronger financial performance, underpinned by higher average iron-ore export prices and a weaker rand:dollar exchange rate for the six months ending June 30. Headline earnings and basic earnings for the period are expected to increase by 160%... →
Caledonia’s lower first-quarter production offset by FX gains, disposal
By: Marleny Arnoldi 14th May 2019 Gold miner Caledonia Mining, which owns 49% of the Blanket mine, in Zimbabwe, produced 11 948 oz of gold in the quarter ended March 31, an 8% year-on-year decrease as a result of lower grades but in line with expectations. Its consolidated operating profit before tax for the quarter, however,... →
Cairns’ exploratory drilling in southern India triggers political storm in election season
By: Ajoy K Das 14th May 2019 Cairns Oil & Gas, an arm of London-headquartered Vedanta, has been granted approval to conduct an environmental impact assessment (EIA) for oil and gas exploration in the southern states of Tamil Nadu and Puducherry, triggering a political storm in this election season. The Indian government gave... →
Copper production in Peru, Panama to offset lower output in Indonesia, Zambia
By: Marleny Arnoldi 13th May 2019 After having grown by 2.5% in 2018, global copper production is expected to remain essentially unchanged this year, but will grow by 1.9% in 2020, the International Copper Study Group (ICSG) said in its ‘Copper Market Forecast for 2019/20’, released on Monday. ICSG met with global copper... →
ABM, Kalahari collaborate on Molopo Farms Complex exploration
By: Marleny Arnoldi 13th May 2019 Aim-listed African Battery Minerals (ABM) has entered into an earn-in agreement over a base metals and platinum group metals (PGMs) exploration opportunity in Botswana. ABM has acquired an 18.2% interest in Kalahari Key Mineral Exploration, which owns the Molopo Farms Complex project, for $194... →
Platinum market set to move into deficit this year – Johnson Matthey
By: Marleny Arnoldi 13th May 2019 The platinum market is expected to move into deficit this year, with a resurgence in investor activity to outweigh modest falls in industrial and jewellery demand, says Johnson Matthey in its latest platinum group metals market report. The science multinational company expects a tentative... →
First-quarter platinum demand up 32% on surge in ETF holdings
By: Nadine James 13th May 2019 Platinum demand increased by 32% year-on-year to 2.56-million ounces in the first quarter of this year, following a surge in investment demand, the World Platinum Investment Council noted in its latest ‘Platinum Quarterly’ report, released on Monday. Investment demand was high enough to offset... →
Palladium's price gap over platinum needs to shrink – Nornickel
By: Reuters 13th May 2019 The price gap between palladium and its sister metal platinum needs to shrink as number one platinum producer South Africa requires a higher price for the metal to keep investing in new supply, Russia's Norilsk Nickel said. Norilsk is the number one producer of palladium, accounting for more than... →
Without US-China trade war, copper price would be higher – Antofagasta chair
By: Reuters 13th May 2019 A trade war between the US and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, the chairperson for Chile's Antofagasta told a Chilean newspaper on Sunday. "Without the commercial war, I am convinced that the price of copper would be... →
Zambia tells Glencore to surrender copper shafts set for closure
By: Bloomberg 13th May 2019 Zambia will order Glencore to hand local contractors control of two copper shafts that the company’s local unit has earmarked for closure. Glencore’s Mopani Copper Mines announced early on Friday that it will cease operations at the Mindola North Shaft and Central Shaft because “they have reached... →
World's coal miners may be digging themselves into another glut
By: Bloomberg 13th May 2019 A global push to dig new mines for steelmaking coal is drawing warnings that a supply glut could push the industry from a boom to a bust, mirroring the brutal 5-year price slump that ended in 2016. Coal’s use to generate electricity has declined precipitously in the US despite a revival push by... →
Lonmin/Sibanye merger judgment set for Friday
By: Martin Creamer 10th May 2019 The Competition Appeal Court judgment on the merging of Lonmin with Sibanye-Stillwater is expected to be handed down in the Cape High Court on May 17 at 10h00, Mining Weekly Online can today report. The appeal against the merger was brought by the Association of Mineworkers and Construction... →
Lonmin-Sibanye merger seen as a perfect job-saving fit.
LME appoints first female chairperson in its history
By: Reuters 10th May 2019 The London Metal Exchange (LME) has appointed Standard Chartered and ConocoPhillips board member Gay Huey Evans – the first female chairperson in its 142-year history. Evans, who is also on the board of Itau BBA International and has previously worked at Citi, Barclays Capital and the UK's... →
Lower chrome price, higher costs drag down Tharisa’s interim earnings
By: Marleny Arnoldi 10th May 2019 JSE- and LSE-listed platinum-group metals (PGMs) and chrome producer Tharisa expects to report basic earnings per share (EPS) and headline earnings per share (HEPS) of $0.04 apiece for the six months ended March 31. This is a decrease of 60% compared with the EPS and HEPS of $0.10 apiece... →
Low morale, management turnover hit Lonmin output
By: Martin Creamer 10th May 2019 Low morale and high management turnover hit the operational performance of Lonmin heavily in the six months to March 31. In reporting a 4%-reduced workforce to 29 812, Lonmin CEO Ben Magara reiterated his conviction that the consolidation of the company through the all-share Sibanye-Stillwater... →
Lonmin CEO Ben Magara
Study shows job potential of Bluejay’s Dundas mine
By: Mariaan Webb 10th May 2019 The Dundas ilmenite project that Bluejay Mining is advancing will bring significant employment opportunities and economic development to the region and Greenland in general, the Aim- and FSE-listed company reported on Friday. Announcing the completion and submission of the social impact... →
Norsk Hydro's new CEO takes the helm pledging deeper cost cuts
By: Bloomberg 10th May 2019 Norsk Hydro needs to extend its cost cutting after a production halt in Brazil erased the benefits of previous cuts, according to its new CEO. “We’ve been heavily affected by the Brazil situation,” Hilde Merete Aasheim, who started as CEO on Wednesday, said in an interview in Oslo. “The effect... →
Acacia hits back at parent Barrick in Tanzania row
By: Reuters 10th May 2019 Acacia Mining on Thursday hit back at parent company Barrick Gold's allegation the miner was an obstacle to solving a long-running tax row in Tanzania. Barrick CEO Mark Bristow said in a results presentation on Wednesday that Acacia was not cooperating, prompting Acacia to demand clarification... →
Barrick excited about the DRC
By: Martin Creamer 10th May 2019 Gold-mining company Barrick is excited about ongoing opportunities in the Democratic Republic of Congo (DRC), where it is making progress with the new mining code, Barrick president and CEO Dr Mark Bristow told Mining Weekly Online on Thursday. Bristow, whose Randgold Resources is now fully... →
Barrick president and CEO Dr Mark Bristow
Mining industry’s image in tatters following deadly Brazilian tailings dam collapse
By: Rebecca Campbell 10th May 2019 At 1.00 PM, local time, on January 25 this year, the deactivated Tailings Dam 1 of the Córrego do Feijão (“Bean Stream”) iron ore mine, owned by Brazil’s world-renowned mining group Vale and located near the small town of Brumadinho in the Brazilian State of Minas Gerais, suddenly collapsed. The... →
'Require, not ask' for women in mining, urges ex-Anglo chief
By: Reuters 9th May 2019 Mining is not only for men. Companies have to do more to push gender diversity, according to Cynthia Carroll, former CEO of Anglo American. “Companies should require, not ask that executives promote, recruit and include women,” Carroll said in an interview on the sidelines of a conference in... →
Jubilee to maintain growth momentum with PlatCro coming into production
By: Simone Liedtke 9th May 2019 AltX- and Aim-listed Jubilee Metals on Thursday reported that the strong performance of the first quarter is expected to be maintained in the second quarter, as the PlatCro platinum group metals (PGMs) project is being brought into production at a targeted processing rate of 60 000 t/m. The... →
W receives advance on €5.3m Extremadura grant
By: Tasneem Bulbulia 9th May 2019 Aim-listed W Resources has secured a €3-million loan facility with Caja Rural de Extremadura that provides an advance of funding against the €5.3-million grant awarded by the Junta de Extremadura government, which is expected to be paid to the company in the fourth quarter of 2019. The €3-million... →
Exxaro sells Tronox shares for R2.9bn
By: Creamer Media Reporter 9th May 2019 NYSE-listed Tronox Holdings has bought back 14-million of its shares from South African coal miner Exxaro Resources for $200-million, or R2.9-billion, the companies confirmed on Thursday. Tronox repurchased the shares at $14.32 a share. →
Acacia gold production rebounds at start of second quarter
By: Simone Liedtke 9th May 2019 London-listed Acacia Mining on Thursday reported a rebound in its production performance at the start of the second quarter, with the Tanzania-focused gold miner having produced 47 805 oz in April, which is 37% higher than the monthly average during the first quarter ended March. The improvement... →
AngloGold embarking on process to dispose of South African assets
By: Martin Creamer 9th May 2019 Iconic South African gold-mining company AngloGold Ashanti said on Thursday that it was embarking on a process to review divestment options for its remaining South African assets. The company, headed by CEO Kelvin Dushnisky, said the process would consider all ownership options, with a view to... →
AngloGold Ashanti CEO Kelvin Dushnisky
Barrick may 'force' resolution to Acacia troubles, CEO says
By: Bloomberg 9th May 2019 Barrick Gold’s Mark Bristow said the company may have to “force” an end to stalled talks with Tanzania over the fate of its subsidiary Acacia Mining – but not yet. Shares of the unit pared gains. Acacia has been at odds with Tanzania’s government since July 2017, when the state handed the... →
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