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Europe News

More than 40m people work in artisanal mining – report

By: Reuters     25th April 2019 More than 40-million people around the world work in artisanal and small-scale mining where minerals including gold, diamonds and cobalt are dug up often by hand, a report by the World Bank and development organisation Pact said on Wednesday. Increasing demand for metals and rising prices have... 

Strong third-quarter sales make up for lower grades at Firestone’s Liqhobong

By: Marleny Arnoldi     25th April 2019 The most valuable stone recovered to date at Aim-listed Firestone Diamonds’ Liqhobong mine, in Lesotho, was sold in March, along with a number of other high-value diamonds. The company’s sales for the third financial quarter, ended March 31, included the record 70 ct white diamond and a 46 ct... 

Anglo’s first-quarter copper output rises, while met coal production disappoints

By: Marleny Arnoldi     25th April 2019 Two planned longwall moves at Anglo American’s metallurgical coal operations made the biggest contribution to the company’s 6% decrease in overall production for the quarter ended March 31. CE Mark Cutifani said in a statement on Thursday that isolated production issues at the Venetia diamond... 

Anglo’s first-quarter copper output rises, while met coal production disappoints
Mark Cutifani

South African mines drag down De Beers’ first-quarter output

By: Marleny Arnoldi     25th April 2019 Diamond miner De Beers’ rough diamond production for the quarter ended March 31 decreased by 8% year-on-year to 7.9-million carats, driven by lower output at its South African operations. De Beers Consolidated Mines, in South Africa, attributed its 65% year-on-year decrease in output to 400 000... 

South African mines drag down De Beers’ first-quarter output
Venetia underground project

Polymetal lists on Astana exchange

By: Creamer Media Reporter      25th April 2019 Gold producer Polymetal said on Thursday that trading in its shares on the Astana International Exchange (AIX) had started, with a total of 1 690 440 shares, amounting to $17-million, having been placed. "The results of the secondary sale have exceeded our expectations, with demand shown from... 

Kaz Minerals quarterly copper output rises, maintains full-year outlook

By: Reuters     25th April 2019 Kaz Minerals said on Thursday its first-quarter copper production rose 4%, boosted by robust volumes at its Aktogay mine in Kazakhstan, while the miner maintained its output forecast for the year. The company, which in February posted annual copper production of 295 000 t, kept its 2019 output... 

Kaz Minerals quarterly copper output rises, maintains full-year outlook

Lundin net earnings down 30%

By: Mariaan Webb     25th April 2019 The first-quarter earnings of TSX- and Nasdaq Stockholm-listed Lundin Mining fell by 30% to $60.9-million, the Canadian base metals miner reported on Wednesday. The first-quarter earnings include a loss on Lundin’s equity investment in Finnish business Freeport Cobalt of $11.9-million, which was... 

Deep-sea mining boss says new law could be adopted next year

By: Reuters     25th April 2019 China and a quest for battery minerals have injected momentum into a long UN process to agree a law on deep-sea mining, which could be adopted by the end of 2020, if the political will exists, the head of the International Seabed Authority (ISA) said. So far the UN body, headquartered in... 

Deep-sea mining boss says new law could be adopted next year

‘Land no one else wants’ gets solar as coal-and-nukes era fades

By: Bloomberg     25th April 2019 For two decades, coal has been pulled from a Bent Mountain mine in eastern Kentucky. But in a startling move in the heart of coal country, a rival –solar – is preparing to move on to the land. From Appalachia in the US to Queensland in Australia and Chernobyl in Ukraine, solar and wind farms are... 

‘Land no one else wants’ gets solar as coal-and-nukes era fades

ICMM to establish mine tailings storage facilities standard 

By: Schalk Burger     24th April 2019 International mining organisation, the International Council of Mining and Metals (ICMM) will conduct an independent review of mine tailings storage facilities to establish an international standard for the safe management of tailings storage facilities that can be applied to all tailings dams... 

Petropavlovsk on target for 2019 guidance

By: Creamer Media Reporter      24th April 2019 Russia-focused gold company Petropavlovsk remains on target to meet its sales guidance of 450 000 oz to 500 000 oz for 2019, with an increasing contribution from the processing refractory concentrates expected. The company produced 422 300 oz of gold in 2018, a decrease from 439 600 oz in 2017,... 

Ethical artisanal diamond mining pilot scaling up operations in Sierra Leone

By: Schalk Burger     24th April 2019 A pilot project that creates a secure and transparent route to market for ethically sourced artisanal and small-scale mined (ASM) diamonds is scaling up its operations in Sierra Leone to give more miners the opportunity to benefit from the programme, diamond multinational De Beers Group, which is... 

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

By: Bloomberg     24th April 2019 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

Antofagasta copper output rises as China fears threaten demand

By: Reuters     24th April 2019 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

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

By: Reuters     24th April 2019 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... 

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... 

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... 

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... 

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... 

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

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

Cornerstone and Newcrest in definitive Ecuador option agreement

By: Creamer Media Reporter      23rd April 2019 Australian major Newcrest has signed a binding option and farm-in agreement with exploration company Cornerstone Capital Resources over the Caña Brava and Tioloma properties in Ecuador, targeting epithermal gold/silver and porphyry gold/copper deposits. The agreement replaces the heads of... 

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... 

Russian, Angolan diamond groups sign MoU

By: Rebecca Campbell     19th April 2019 Russia’s predominantly State-owned global diamond mining major Alrosa and Angola’s State-owned national diamond mining company Endiama signed a Memorandum of Understanding (MoU) early this month. This marks the latest stage in the development of the relationship between the two entities, which... 

Orion reawakening geological giant in Northern Cape  

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Orion reawakening geological giant in Northern Cape
Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Polymetal reports big jump in production

By: Creamer Media Reporter      18th April 2019 Russian gold and silver producer Polymetal on Thursday reported a 27% year-on-year increase in first-quarter gold-equivalent (GE) production, on the back of a strong performance from its Kyzyl mine and steady operational performance at its other mines. GE production increased to 374 000 oz. Gold... 

Shanta achieves strong first-quarter performance

By: Tasneem Bulbulia     18th April 2019 East Africa-focused gold producer Shanta Gold had a strong start to 2019 – with the quarter ended March 31 having been its best opening quarter in three years in terms of production. Its costs were also well below guidance. 

Glencore’s Jeff Gerard appointed Katanga CEO

By: Simone Liedtke     18th April 2019 TSX-listed Katanga Mining, a unit of Glencore, on Thursday announced that Glencore International’s Jeff Gerard would succeed Danny Callow as CEO of the company, effective May 2. Gerard’s appointment follows the signing of a management services agreement between Katanga and Glencore in January.... 

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke     18th April 2019 Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. 

Green economy good news for copper producers – Antofagasta chairman

By: Reuters     18th April 2019 The global fight against climate change will boost demand for copper, a key metal used in the production of electric vehicles, Antofagasta chairperson Jean-Paul Luksic said on Wednesday. Luksic, speaking to reporters at Antofagasta's Los Pelambres mine in north-central Chile, said the global... 

Mick Davis moves closer to iron-ore mining with Liberian deal  

By: Bloomberg     18th April 2019 Mining dealmaker Mick Davis has won permission to export iron-ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback. Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron-ore... 

Mick Davis moves closer to iron-ore mining with Liberian deal
Photo by Bloomberg
Mick Davis

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia     17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

Royal Bafokeng boosts production despite setbacks 

By: Martin Creamer     17th April 2019 Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t.... 

Altus defines further prospect at Mali gold project

By: Marleny Arnoldi     17th April 2019 Aim- and TSX-V-listed Altus Strategies has defined a further significant prospect at its Diba gold project, in Mali. "Our detailed review of Diba's historical data, as reported on February 4, identified multiple priority drill targets including a 1.85-km-long anomalous zone adjacent to the... 

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