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Europe News

Indiana granted due diligence deadline extension on Mali projects

By: Marleny Arnoldi     3rd May 2019 Aim- and TSX-V-listed Altus Strategies has granted ASX-listed Indiana Resources an extension to the exclusivity period for completing due diligence on the Lakanfla and Tabakorole gold projects, in Mali, to June 14. Indiana requested the extension owing to the time required to process... 

Kyrgyzstan bans uranium mining after protests

By: Reuters     3rd May 2019 Kyrgyzstan's Parliament voted on Thursday to ban uranium exploration and mining in the Central Asian nation despite previously issuing licenses to foreign companies such as Canada's Azarga Uranium. The move, which may expose the Bishkek government to compensation claims from foreign investors,... 

Kyrgyzstan bans uranium mining after protests

Struggling junior miners woo investors to fund exploration projects

By: Reuters     3rd May 2019 Junior miners, struggling to fund exploration as institutions seek lower risk and better returns from larger rivals and newer industries, sought to sell potential investors on projects on Thursday, with mixed success. The proliferation of index funds, sluggish gold price growth and a shift into... 

Mining body releases autonomous systems guideline

By: Nadine James     3rd May 2019 The Global Mining Guidelines Group (GMG) published the Guideline for the Implementation of Autonomous Systems in Mining last month, in an effort to assist in the implementation of these systems, which are being used more and more frequently owing to their potential for making the mining industry... 

Mining body releases autonomous systems guideline
LEADING THE WAY Rio Tinto, one of the pioneers in implementing autonomous mining systems, including autonomous trucks, assisted in the guideline's publication

First-quarter gold demand lifted by central banks, ETFs 

By: Simone Liedtke     2nd May 2019 Continued growth in central bank buying and growth in gold-backed exchange-traded funds contributed to a 7% year-on-year increase in global gold demand to 1 053.3 t for the first quarter of this year, the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report shows. Gold demand... 

First-quarter gold demand lifted by central banks, ETFs

Mine versus lab: how green is your diamond?

By: Reuters     2nd May 2019 Mined diamonds are less carbon-intensive than man-made, but their producers should use more green energy, according to a study commissioned by the natural diamond industry, highlighting tensions between the mined and lab-grown sectors. The US Federal Trade Commission, which investigates... 

Alamos reports solid start to 2019

By: Mariaan Webb     2nd May 2019 TSX- and NYSE-listed Alamos Gold has had a solid start to 2019, with strong performances at its four North America mines, including a record quarter at the Island Gold mine, in northern Ontario. The company produced 125 300 oz of gold at a cash cost of $732/oz in the three months ended March.... 

NASA says aluminum fraud caused $700m satellite failures

By: Bloomberg     1st May 2019 Faulty materials supplied by a unit of Norsk Hydro ASA, one of the world’s top aluminum producers, led to more than $700 million of losses in two failed NASA satellite launch missions, according to an investigation by the space agency. NASA’s Orbiting Carbon Observatory mission in 2009 and Glory... 

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... 

Hochschild on track to meet full-year output, cost guidance

By: Creamer Media Reporter      30th April 2019 London-listed Hochschild achived a strong start to this year, with attributable production of 121 367 gold-equivalent ounces or 9.8-million silver-equivalent ounces for the quarter ended March 31. This was mostly as a result of "another solid quarter" from its Inmaculada mine, in Peru, and a... 

Ma'aden awards Outotec consortium multimillion-euro EPC contract

By: Creamer Media Reporter      30th April 2019 Saudi Arabian mining company Ma'aden has awarded a consortium comprising Outotec and Larsen & Toubro an engineering, procurement and construction contract to build a greenfield mineral concentrator and gold processing plant in Saudi Arabia. Outotec's share of the project is valued at more than... 

Polymetal's Amursk POX plant certified under International Cyanide Management Code

By: Creamer Media Reporter      30th April 2019 London-listed precious metals miner Polymetal's Amursk pressure oxidation (POX) plant, has become the second gold production operation in Russia to be certified as being in full compliance with the International Cyanide Management Code (Cyanide Code) as both a gold mining company and, separately,... 

Chaarat appoints new COO

By: Creamer Media Reporter      30th April 2019 Aim-listed Chaarat Gold has appointed Darin Cooper COO, effective June 1. Cooper has more than 30 years' experience in the metals and mining industry spanning operations, projects, restructuring and culture change. 

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... 

Russia's Rusal first-quarter value-added product sales down 44% on US sanctions

By: Reuters     30th April 2019 Russian aluminium producer United Company Rusal has reduced its first-quarter sales of value added products (VAP) by 44% from a year ago and by 22% from the last quarter of 2018 because of sanctions by the US. Washington imposed the sanctions on Rusal, the world's largest aluminium producer... 

Epiroc shares drop as mining gear orders disappoint

By: Reuters     30th April 2019 Sweden's Epiroc said on Tuesday it expected current levels of demand to prevail in the near term after it reported lower than expected quarterly mining equipment orders, sending its shares lower. Epiroc, which competes against Sweden's Sandvik and Finland's Metso, said its order intake inched up... 

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... 

Vast receives draft term sheet for $10m loan from Swiss bank

By: Tasneem Bulbulia     29th April 2019 Aim-listed Vast Resources has received a draft indicative term sheet containing the material indicative terms from a Swiss bank for loan financing of up to $10-million to be applied to the company’s Romanian projects, including the full repayment of the $4-million plus accrued interest in debt... 

Oracle’s Chinese partners commit to changing equity holdings in Pakistan project

By: Simone Liedtke     29th April 2019 As part of the China Belt and Road Summit, held in Beijing on April 27 and 28, Beijing Jingneng Power Company (BJPC) and PowerChina International, have ceremonially signed a memorandum of understanding that will result in a change in the equity shareholding in the Thar Block V1 lignite coal mine... 

Oriole Resources receives £522 000 VAT refund

By: Tasneem Bulbulia     29th April 2019 Aim-listed exploration company Oriole Resources has received a repayment of £522 000 from Her Majesty’s Revenue and Customs (HMRC), in the UK, following the positive resolution of a value-added tax (VAT) dispute. “We are delighted to be able to report the receipt of this money and the end of this... 

Anglesey to raise cash to fund Parys Mountain project optimisation study

By: Simone Liedtke     29th April 2019 Anglesey Mining on Monday confirmed that it had placed more than 9.3-million new ordinary shares, representing about 5.3% of the company’s current issued share capital, at 2.135p a share to raise about £200 000 gross and £180 000 net of capital. The placing price represents a discount of about... 

Keras appoints COO to help build manganese portfolio

By: Simone Liedtke     29th April 2019 Aim-listed Keras Resources has concluded the bulk sample agreement for its flagship Nayega manganese project, in northern Togo, which confirms all the technical, financial and logistical assumptions of Keras’ internal feasibility study. The agreement, which concludes six months of work by Keras... 

Alrosa’s Vladivostok diamond auction brings in $9.65m

By: Simone Liedtke     29th April 2019 Diamond miner Alrosa on Monday said the revenue from the sale of special size diamonds at an auction in Vladivostok, exceeded $9.65-million. The auction took place from April 8 to 19, with 105 diamonds with a combined weight of 2 481.9 ct put on offer and 2 030.32 ct sold. 

Sylvania delivers ‘significantly better’ third quarter, despite challenges 

By: Simone Liedtke     29th April 2019 After a challenging second fiscal quarter, Aim-listed Sylvania Platinum’s Sylvania Dump Operations performed “significantly better” and delivered 16 256 oz of platinum group metals (PGMs) – a 9% quarter-on-quarter increase – in the quarter ended March 31. The increased production was owing to a... 

Trans-Siberian lifts first-quarter gold, silver output

By: Simone Liedtke     29th April 2019 Russian miner Trans-Siberian Gold achieved a 52% year-on-year increase in gold production to 12 345 oz at its Asacha gold mine for the three months ended March 31. The increase was driven by higher grades and better recoveries, the company said, adding that it remains on track to meet its... 

Tanesco gives Kibo green light to develop MCPP

By: Marleny Arnoldi     29th April 2019 Aim- and JSE-listed Kibo Energy has received formal notice from the Tanzania Electric Supply Company to develop the Mbeya coal-to-power project for the export market. This enables the company to engage with African power pools regarding offtake agreements.  

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. 

Ferrexpo plunges as auditor, directors resign amid charity probe

By: Bloomberg     29th April 2019 Ukrainian iron-ore producer Ferrexpo plunged the most in three years as its auditor and two directors resigned amid a money laundering investigation at a charity supported by the company. Ferrexpo announced on Friday morning that Deloitte had resigned without providing any details about the... 

Ferrexpo plunges as auditor, directors resign amid charity probe

Diamond trading goes online as Lucara takes on industry goliaths  

By: Bloomberg     29th April 2019 he opaque diamond trade may be ripe for disruption. Lucara Diamond, which recently found the second-largest diamond in history in Botswana, is taking on industry giants such as De Beers and Alrosa PJSC with an online platform to replace the current physical auctions. The service allows Lucara... 

Diamond trading goes online as Lucara takes on industry goliaths

Atalaya’s Riotinto operations continue amid mining permit dispute

By: Marleny Arnoldi     26th April 2019 Aim- and TSX-listed copper and silver producer Atalaya on Friday provided an update with regard to a mining permit dispute at its Riotinto mine, in Spain. In November 2016, environmental group Ecologistas en Acción filed a claim, additional to the lawsuit filed in July 2014 related to the... 

Implats maintains 2019 guidance despite challenging third quarter 

By: Simone Liedtke     26th April 2019 Against a backdrop of challenges in the third quarter, ended March 31, for platinum miner Impala Platinum, the miner has maintained its market guidance for the full-year. The full‐year refined production for Implats is estimated at between 1.5-million and 1.6-million platinum ounces and, given... 

Alrosa earns $8.91m in Dubai diamond auction

By: Creamer Media Reporter      26th April 2019 Diamond major Alrosa earned $8.91-million in revenue from the sale of special size diamonds – diamonds larger than 10.8 ct – at its second auction in Dubai, this year. Fifty-six companies from Belgium, India, Israel, the United Arab Emirates, the US, Hong Kong and Russia participated in the... 

Ferrexpo auditor Deloitte quits as queries remain around charity funds

By: Reuters     26th April 2019 Ferrexpo said on Friday Deloitte had resigned as its auditor with immediate effect, days after the iron-ore miner said some funds of a charity it donates to in the Ukraine could have been "misappropriated". Blooming Land, the charity which coordinates Ferrexpo's Corporate Social Responsibility... 

Glencore faces new corruption investigation with CFTC probe

By: Bloomberg     26th April 2019 Glencore said it’s under investigation by the US Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world’s biggest commodity trader. The probe comes after the London-listed company was subpoenaed last year by the US Justice department for... 

Glencore faces new corruption investigation with CFTC probe

Sibanye increases offer for Lonmin 

By: Nadine James     25th April 2019 Dual-listed Sibanye-Stillwater and platinum miner Lonmin on Thursday announced that their boards have reached an agreement on the terms of an increased recommended all-share offer for Lonmin’s entire share capital. The boards believe the higher offer reflects the recent recovery in the platinum... 

Jewellery gives platinum biggest bang for marketing buck by far  

By: Martin Creamer     25th April 2019 Marketing investment in the jewellery sector provides platinum with its biggest, best and quickest return by a long shot, with platinum jewellery accounting for 30% of overall platinum demand and at least half of that demand coming from China. Marketing spend on physical platinum investment... 

Jewellery gives platinum biggest bang for marketing buck by far
Photo by Creamer Media Chief Photographer Dylan Slater
Anglo American Platinum CEO Chris Griffith (right) interviewed by Mining Weekly Online's Martin Creamer

Sirius announces 10-year European distribution agreement

By: Creamer Media Reporter      25th April 2019 UK-based Sirius Minerals has inked a ten-year supply and distribution agreement with a European agribusiness group for the polyhalite – a form of potash used in fertilisers – that its Woodsmith mine, in north Yorkshire, will produce. BayWa Agri Supply & Trade, a wholly owned subsidiary of... 

Sirius announces 10-year European distribution agreement
A July 2018 photo of the Woodsmith mine site.

Acacia swings to first-quarter loss on operational challenges, lower production

By: Nadine James     25th April 2019 London-listed Acacia Mining, which has various operations in Tanzania, has posted an adjusted net loss of $7-million for the quarter ended March 31, compared with adjusted net earnings of $7-million in the first quarter of 2018. It produced 104 899 oz of gold at an all-in sustaining cost (AISC)... 

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