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Europe News
Rio reveals $6.6bn tax bill for 2018
By: Esmarie Iannucci 9th April 2019 Mining major Rio Tinto on Tuesday revealed that it has paid some $6.6-billion in taxes and royalties during 2018, up from the $5.1-billion paid the year before. The miner paid some $4.8-billion in royalties and taxes in Australia during 2018, of which $3.17-billion was corporate income tax and... →
Euro Sun explains its ‘environmentally responsible’ Romania gold project
By: Mariaan Webb 9th April 2019 Canada-based Euro Sun Mining has explained its decision to design its Rovina Valley gold project, in Romania, as a so-called “green” gold project, without the use of wet tailings facilities and cyanide. In a statement addressing “many questions” from shareholders following the February release... →
De Beers lifts diamond sales amid stable demand
By: Creamer Media Reporter 9th April 2019 Diamond miner De Beers sold $575-million of diamonds in its third sales cycle of this year. This was higher than the $496-million of sales recorded in the second sales cycle of this year, as well as the $524-million of sales recorded in the third sales cycle of 2018. “As we move into the second... →
Rio Tinto approves $463m Zulti South project to extend RBM's life 
By: Creamer Media Reporter 8th April 2019 Diversified miner Rio Tinto on Monday approved the construction of the $463-million Zulti South project − the next stage in the development of mineral sands producer Richards Bay Minerals (RBM), in South Africa's KwaZulu-Natal province. The project will sustain RBM's current capacity, as well as... →
Rio Tinto CEO Jean-Sebastian Jacques
Anglo American vows to scrap $3bn copper plan if opposition soars
By: Bloomberg 8th April 2019 Anglo American will scrap its next big copper project if studies indicate the plan could harm nearby glaciers or there’s major opposition from local communities in Chile, a top executive says. The London-based company will file for environmental approval of the $3-billion project to increase... →
Amcu slams Lonmin-Sibanye merger over 'magnitude' of job losses at Appeal Court
By: News24Wire 8th April 2019 Thousands of jobs will be lost at Lonmin over a three-year period following its merger with Sibanye-Stillwater, the Association of Mineworkers and Construction Union has argued. The union has lodged an appeal before the Competition Appeal Court to set aside a 2018 decision by the Competition... →
ANS receives first project-equity instalment for Tulu Kapi
By: Simone Liedtke 8th April 2019 ANS Mining Share Company, which is funding Aim-listed Kefi Minerals’ Tulu Kapi gold project, has confirmed that it has received its first project-equity instalment commitments of $11.4-million from investors. The amount is higher than the previously anticipated $9-millon. →
Arc Minerals commissions Kalaba demonstration plant
By: Simone Liedtke 8th April 2019 Aim-listed Arc Minerals’ Kalaba demonstration pilot plant, in Zambia, has been completed and successfully commissioned with the initial production of copper/cobalt sulphide concentrate. The junior explorer is finalising detailed oxide resource tonnages, grades and mining plans in line with the... →
BHP Americas boss says miners must make copper greener
By: Reuters 8th April 2019 Copper producers must collectively raise their game to improve the metal's ethical and green credentials as ageing mines require more water and energy to produce the same amount of metal, one of BHP's most senior executives said on Friday. Many in the industry have emphasised the importance of... →
A million tons of copper is on the way, but it may not be enough
By: Bloomberg 8th April 2019 Giant mines currently under construction will churn out an additional one-million tons of copper through 2023, but that won’t be enough to fully close an expected gap between supply and demand in the next few years. Industry analysts and executives descending on Santiago this week for the Cesco... →
Norway wealth fund to tighten coal ban, add green infrastructure
By: Bloomberg 5th April 2019 Norway plans to tighten restrictions on coal investments for its $1-trillion sovereign wealth fund while opening it up for renewable-energy infrastructure assets. The government proposes to expand its coal ban by adding absolute caps on production of thermal coal, or its use in power generation,... →
Bushveld appoints new Vametco GM, group finance head
By: Marleny Arnoldi 5th April 2019 Aim-listed Bushveld Minerals has appointed Bertina Symonds GM of Bushveld Vametco and Hiten Ooka group finance head. Symonds’ appointment combines the roles of CEO and COO into GM for the company’s Bushveld Vametco business, which owns the company’s vanadium mine in South Africa’s North West... →
Berkeley appeals to Spain's Supreme Court over nuclear watchdog nominees
By: Reuters 5th April 2019 Berkeley Energia has appealed to Spain's Supreme Court against the nomination of new members to the country's nuclear safety council (CSN), which is due to assess the Australian company's uranium mine project near Salamanca. The court, in a document released on Thursday, said it had rejected a... →
Norsk Hydro has April 12 court hearing on partly shut Brazil plant
By: Reuters 5th April 2019 A Brazilian federal court has scheduled an April 12 hearing on the year-long production embargo at Norsk Hydro's Alunorte alumina refinery in Brazil, the Norwegian company said on Friday. The plant has operated at half of its capacity since February 2018 after a spill that led regulators and... →
Anglo taking tailings dam monitoring to next level
By: Martin Creamer 4th April 2019 Diversified mining company Anglo American is implementing new techniques that give the company far more control over tailings dams, which have been thrown into the spotlight after the tragic loss of life at Brumadinho, in Brazil, where an iron-ore tailings dam collapsed at Vale’s Corrego do... →
How Anglo American is reducing tailings dam risk
Atalaya profit jumps 89%
By: Creamer Media Reporter 4th April 2019 Aim- and TSX-listed Atalaya Mining on Thursday reported profit of €34.44-million for 2018 – an 89% increase on that of 2017. The company, which operates the Proyecto Riotinto mine, in Spain, posted revenue of €189.5-million as a result of 183 368 t of concentrates sold in 2018. This compares... →
Global gold-backed ETF holdings grew incrementally in March – WGC
By: Simone Liedtke 4th April 2019 Holdings in global gold-backed exchange-traded funds and similar products rose by 3 t in March, to 2 483 t, equivalent to about $183-million in inflows, the World Gold Council (WGC) reported on Thursday. The WGC said global assets under management fell by 1.6% in dollar terms to $103-billion over... →
How countries are getting tougher with mining companies
By: Reuters 4th April 2019 A mix of political populism, higher commodity prices and the expectation electrification will spur demand for some raw materials has led resource-holding governments to change the rules for miners operating in their countries. In most cases, governments are seeking to increase their share of... →
Antofagasta secures debt financing for Chile expansion
By: Creamer Media Reporter 4th April 2019 The expansion of the Los Pelambres copper mine, in Chile, is fully financed, London-listed Antofagasta announced on Thursday. The entire $1.3-billion cost of the expansion would be debt financed by Los Pelambres. →
ERG joins UN Global Compact
By: Creamer Media Reporter 4th April 2019 Diversified natural resources group Eurasian Resources Group (ERG) has joined the United Nations Global Compact – the world’s largest voluntary corporate citizenship initiative. ERG has also undertaken to implement the compact's ten principles in the areas of human rights, labour the environment... →
Saudi Arabia's gold miner plans to be a global top-20 supplier
By: Bloomberg 4th April 2019 Saudi Arabian Mining Co wants to more than double gold output within five years. Maaden, as the State-backed company is known, plans to boost gold output from about 415 000 oz this year to one-million by 2025, CEO Darren Davis said in an interview. That would catapult the oil-rich kingdom from a... →
Investors from Britain buy 50% of shares sold by Polyus shareholder
By: Reuters 4th April 2019 Investors from Britain bought almost 50 percent of Polyus shares sold by the gold producer's controlling shareholder, according to deal bookrunner VTB Capital. Polyus said on Thursday that its controlling shareholder, Polyus Gold International Ltd (PGIL), had sold a 3.84% stake in the company... →
Botswana Diamonds completes Thorny River drilling programme
By: Simone Liedtke 4th April 2019 Aim-listed Botswana Diamonds has completed the intensification drilling programme on the Frischgewaagt and Hartbeesfontein farms, which form part of its Thorny River diamond dyke project, in South Africa. The intensification drilling programme comprised 33 holes and 1 282 m of drilling which,... →
MMG joins Glencore, ERG in reviewing Congo plans after tax hike
By: Bloomberg 4th April 2019 Yet another foreign miner in the Democratic Republic of Congo is reviewing its future production plans after the government increased taxes and removed investor safeguards despite industry protests. MMG, the Chinese-owned copper producer, is considering whether to invest in more expensive methods... →
Anglo hopes to run truck on hydrogen in 12 months – O’Neill
By: Martin Creamer 3rd April 2019 Diversified mining company Anglo American hopes to have a truck running on hydrogen in the next 12 months, Anglo American technical director Tony O’Neill said on Wednesday, when he spoke of foreseeing the company’s installed diesel fleet one day being replaced by an electrical alternative. To... →
Graphic showing how sun can provide electricity to produce hydrogen that powers mine fleets.
Kalahari Metals receives EMP for Ngami copper project
By: Simone Liedtke 3rd April 2019 Kalahari Metals (KML), in which Aim-listed Metal Tiger owns 50%, has received notification that the environmental management plan (EMP) for KML’s Ngami copper project has been reviewed and approved by the Botswana Department of Environmental Affairs. The EMP authorisation is, however, subject to... →
Rare earths firm Pensana eyes London listing
By: Creamer Media Reporter 3rd April 2019 ASX-listed Pensana Metals, which is developing a rare earths project in Angola, is considering a listing on the LSE by the end of the year, the company has reported. Pensana stated that it would undertake an investor road show next week, ahead of a planned listing on the main board towards the... →
Perseus’ UK depositary interest facility extended to July 18
By: Tasneem Bulbulia 3rd April 2019 ASX-listed Perseus Mining’s UK depositary interest facility has been extended for three months to July 18 to allow warrant holders to exercise their warrants and consolidate their holdings. On April 18, 2016, a scheme of arrangement between Perseus and Amara Mining and its shareholders became... →
Iron-ore thunders higher as mine dams closed, exports collapse
By: Bloomberg 3rd April 2019 Iron-ore’s supply-driven rally picked up pace on Wednesday, with futures topping $90 a ton, amid increasing concern the crisis at Brazil’s Vale will be drawn out as regulators ordered dozens of dams to be shut. Futures for benchmark material rallied as much as 4.1% in Singapore, while spot ore... →
Rio Tinto and Alcoa plan R&D facility in Quebec
By: Esmarie Iannucci 3rd April 2019 An aluminium joint venture (JV) between majors Rio Tinto and Alcoa has flagged a site for a new research and development facility in the Saguenay–Lac-Saint-Jean region in Québec. The Elysis JV is working to commercialise a breakthrough technology that eliminates all direct greenhouse gases from... →
Jewellers must say whether diamonds are mined or synthetic – US FTC
By: Reuters 3rd April 2019 The US Federal Trade Commission, which investigates allegations of deceptive advertising, said on Tuesday that it has sent warning letters to eight companies to insist that they distinguish in advertisements between diamonds that come from mines and those made in laboratories. The FTC said that... →
Northam trying out tunnelling first at rhodium-rich Eland mine development
By: Martin Creamer 2nd April 2019 Platinum group metals mining company Northam is preparing to deploy innovative tunnel boring technology at its Eland mine as part of a R93-million shared risk-and-reward contract with Master Drilling. Eland, on the southeastern limit of the western limb of the Bushveld Complex, has a 19.3-million... →
Paul Dunne (right) and Martin Creamer
Hydro's Norwegian aluminium plant faces months to fully restore output
By: Reuters 2nd April 2019 Norsk Hydro may take months to return its Karmoey aluminium plant in western Norway to full capacity following a power outage that cut production by about 10%, the company said on Tuesday. Hydro on Monday switched off 45 of the 288 aluminium cells at the plant's main production line,... →
Diamond ETF gets closer as UK approves gem pricing benchmark
By: Bloomberg 2nd April 2019 The UK’s financial regulator added a small diamond pricing firm to its roster of companies managing market benchmarks, opening the way to making the precious stones a more investable asset. The Financial Conduct Authority has authorized U2 Diamond Prices as a benchmark administrator, joining... →
BlueRock reports 12% first-quarter production increase
By: Simone Liedtke 2nd April 2019 Aim-listed BlueRock Diamonds on Tuesday reported a 12% year-on-year increase in mined tonnage at its Kareevlei mine, in Kimberley, to 42 409 t for the first quarter of this year. This was achieved despite a temporary eight-day suspension in mining operations in February. →
Eldorado resumes Kisladag heap leaching
By: Mariaan Webb 2nd April 2019 Canada-headquartered Eldorado Gold has resumed operations at Kisladag in line with an announcement earlier this year that it will drop a milling project at the Turkey-based mine in favour of heap leaching. The decision, communicated in January, followed improved heap leach recoveries and a... →
Tariff war will hammer global trade growth this year, WTO says
By: Bloomberg 2nd April 2019 The World Trade Organization (WTO) slashed its global trade growth projection for 2019 to the lowest level in three years, citing the impact of rising commercial tensions and tariffs. World merchandise trade growth will slow to 2.6% this year and 3% next year, after notching 3% in 2018, the WTO... →
Jervois gains US project with eCobalt merger
By: Esmarie Iannucci 2nd April 2019 ASX-listed Jervois Mining has struck a friendly merger agreement with TSX-listed eCobalt. Under the terms of the agreement, each eCobalt share will be exchanged for 1.65 common shares in Jervois, representing an implied offer price of C$0.36 a eCobalt share. →
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