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Europe News

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... 

Iron-ore thunders higher as mine dams closed, exports collapse

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... 

Jewellers must say whether diamonds are mined or synthetic – US FTC

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... 

Northam trying out tunnelling first at rhodium-rich Eland mine development
Photo by Creamer Media
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... 

Diamond ETF gets closer as UK approves gem pricing benchmark

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... 

Eldorado resumes Kisladag heap leaching
The Kisladag operation in Turkey.

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. 

Marginal recovery in gold price expected this year – Metals Focus  

By: Tasneem Bulbulia     1st April 2019 Last year was challenging for the gold price, precious metals consultancy Metals Focus’ ‘Gold Focus 2019’ report, which was published on Monday, shows. Against the backdrop of a healthy US economy, strong employment and signs of US inflation picking up, most analysts expected US policy rate... 

Marginal recovery in gold price expected this year – Metals Focus
Photo by Bloomberg
Gold Bars

Alrosa raises $11.8m in New York diamond sale

By: Reuters     1st April 2019 Russian State-controlled miner Alrosa, the world's biggest producer of rough diamonds in carat terms, raised $11.8-million in its first New York diamond auction of the year, as it seeks to increase its activity in the US. Rebecca Foerster, president of Alrosa, North America, said sanctions... 

Tirupati commissions Madagascar graphite production plant

By: Creamer Media Reporter      1st April 2019 Flake graphite producer Tirupati Graphite has commissioned a 3 000 t/y plant at its Sahamamy project, in Madagascar, which is expected to eventually produce 21 000 t/y of flake graphite. This is the first of six planned flake graphite production plant modules that will be built by the company in... 

Tirupati commissions Madagascar graphite production plant

Lonmin paid $16.78m in taxes, royalties during 2018 financial year

By: Marleny Arnoldi     1st April 2019 LSE- and JSE-listed Lonmin made $16.78-million in payments to the UK, South African and Kenyan governments during the financial year ended September 30, 2018. The group on Monday disclosed that this comprised $9.73-million in taxes and $7.06-million in royalties.  

Beowulf raises £750 000, ups investment in Kosovo explorer

By: Tasneem Bulbulia     1st April 2019 Nordic-focused mineral exploration and development company Beowulf Mining has £750 000 before expenses, part of which the Aim-listed junior will use for a further investment in a Kosovo-focused private explorer. Beowulf will exercise the option to increase its stake in Vardar Minerals from 14.1%... 

Polymetal teams up with a junior to explore in Russia

By: Tasneem Bulbulia     1st April 2019 Global gold and silver producer Polymetal on Monday announced its first strategic partnership with a junior for early-stage exploration in the Taimyr Peninsula, Russia. Polymetal will hold 70% in the Taimyr Joint Venture by way of an initial cash investment of $1.9-million towards an agreed field... 

Edenville considers additional funding measures after low uptake of open offer

By: Marleny Arnoldi     1st April 2019 Aim-listed Edenville Energy on Monday reported a low level of uptake of its open offer on the stock exchange and that, consequently, operations at its Rukwa coal project, in Tanzania, have been constrained. The company was implementing cost cutting measures to preserve working capital and,... 

Kibaran hunting for German funding

By: Esmarie Iannucci     1st April 2019 ASX-listed Kibaran Resources has mandated Germany’s KfW IPEX-Bank to provide debt funding to develop the Epanko graphite project, in Tanzania. KfW IPEX-Bank and Kibaran will now proceed with a lender credit review process and prepare an application for the German government untied loan guarantee... 

Pure Gold aims for London listing this quarter

By: Simone Liedtke     1st April 2019 TSX-V-listed Pure Gold, which owns a gold project in Ontario, on Monday announced that it would seek a dual listing of its shares on the LSE to raise its international profile. The listing is expected in the second quarter of 2019, and the company is not intending to raise capital in conjunction... 

Pure Gold aims for London listing this quarter
The Madsen project area in Ontario, Canada.

Ferrexpo delays results again as charity investigation continues

By: Reuters     1st April 2019 Ukraine-focused iron-ore pellet producer Ferrexpo on Monday again delayed the publication of full-year results to the end of April, while it awaits further progress in an independent investigation on possible misuse of charitable donations. Ferrexpo said last month it was delaying the results... 

Firestone puts Liqhobong Cut 3 expansion on ice

By: Marleny Arnoldi     29th March 2019 Aim-listed Firestone Diamonds has determined that the proposed Cut 3 life-of-mine expansion at its 75%-owned Liqhobong mine, in Lesotho, is not currently economically viable. The Cut 3 expansion project would have increased the life of the mine by three years and result in 40% more carats... 

Shanta to list its Singida project on Dar es Salaam exchange

By: Marleny Arnoldi     29th March 2019 Aim-listed Shanta Gold has proceeded with a targeted $20-million minimum equity offering through an initial public offering (IPO) for its Singida project on the Dar es Salaam Stock Exchange, in Tanzania. Shanta, which owns the gold project, will retain at least 51% ownership following the IPO.  

Afarak invests in clean energy at its Mogale Alloys plant

By: Tasneem Bulbulia     29th March 2019 Swedish cleantech company Ripasso Energy on Friday handed over a PWR BLOCK 400-F system, which converts industrial residual and flare gases into electricity, to vertically integrated speciality alloys producer Afarak at its Mogale Alloys processing plant, in Krugersdorp. This is the first such... 

Afarak invests in clean energy at its Mogale Alloys plant

Platinum ETFs hit record high, palladium seen as over-bought 

By: Martin Creamer     29th March 2019 Platinum-backed exchange traded fund (ETF) holdings increased for the ninth consecutive day yesterday reaching 2.96-million ounces, the highest level on record, the BMO Metals Brief noted on Friday. The report put out by BMO Global Commodities Research addedthat ETF inflows had been strong in the... 

Platinum ETFs hit record high, palladium seen as over-bought
Photo by Bloomberg
Platinum bar.

Petra recovers 425 ct diamond at Cullinan

By: Creamer Media Reporter      29th March 2019 London-listed Petra Diamonds has recovered a 425.10 ct D-colour Type II gem-quality diamond at its Cullinan mine, in South Africa. "The recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody, as well as the ability of the mine's plant to recover the full... 

Told-you-so rout hammers palladium after slew of bubble warnings

By: Bloomberg     29th March 2019 Palladium is heading for the biggest weekly decline in more than three years as investors’ focus turned to demand amid concerns over slowing global growth, with the slump following repeated warnings that the metal’s recent surge to record highs had propelled it into bubble territory. The metal... 

Told-you-so rout hammers palladium after slew of bubble warnings

Russia is stocking up on gold as Putin ditches US dollars

By: Bloomberg     29th March 2019 Vladimir Putin’s quest to break Russia’s reliance on the US dollar has set off a literal gold rush. Within the span of a decade, the country quadrupled its bullion reserves and 2018 marked the most ambitious year yet. And the pace is keeping up so far this year. Data from the central bank show... 

Chalco leapfrogs Rusal as second-biggest listed aluminium producer

By: Reuters     29th March 2019 China's Chalco said on Friday it boosted annual aluminium output by 16% in 2018, putting it ahead of Russia's Rusal as the world's second-biggest publicly traded producer of the metal. The increase underscores China's growing dominance of the global aluminium market, as the world's biggest... 

Nornickel to spend $1.4bn on two expansion projects

By: Reuters     28th March 2019 Russian nickel and palladium producer Norilsk Nickel (Nornickel) said it will invest up to 90-billion roubles ($1.4-billion) over four years in two major projects in Russia. The projects - expansion and reconstruction of the Talnakh ore concentrator and development of the South Cluster mine -... 

Nornickel to spend $1.4bn on two expansion projects

Palladium 'bubble has burst' in metal’s biggest drop since 2010

By: Bloomberg     28th March 2019 Palladium fell for a third day, heading for the biggest drop in almost nine years and fueling concern that the metal’s multi-month rally has run out of steam. The commodity used in pollution-reducing auto catalysts, which surged to a record last week on the outlook for tightening supplies, fell... 

Mkango receives £7m for Songwe Hill feasibility study

By: Creamer Media Reporter      28th March 2019 Aim- and TSX-V-listed Mkango Resources on Thursday said Talaxis has, as planned, invested an additional £7-million into Mkango subsidiary Lancaster Exploration, which holds the licence for the Songwe Hill rare earths project, in Malawi. This will increase Talaxis' stake in Lancaster to 49%, from... 

Exxaro unveils new ultramodern headquarters  

By: Martin Creamer     28th March 2019 South Africa’s largest coal producer and black-empowered coal company Exxaro has unveiled its new ultramodern headquarters. The conneXXion, in Centurion, has e-parking bays for employees to charge their electric or hybrid vehicles while they work, and attractive central staircases to encourage... 

Exxaro unveils new ultramodern headquarters
New Exxaro headquarters

Nordgold to maintain capex at Burkina Faso mines at about $145m

By: Creamer Media Reporter      28th March 2019 Gold miner Nordgold will, this year, maintain its investment in its Burkina Faso mines at similar levels to the $145-million in capital expenditure (capex) invested during 2018. The company, which operates the Bissa, Bouly and Taparko mines in the country, on Thursday said the capex included... 

Tronox now domiciled in the UK, expands board

By: Creamer Media Reporter      28th March 2019 Global mining and inorganic chemicals company Tronox Holdings has expanded its board to ten people, following the completion of its re-domiciliation to the UK, from Australia. The company’s new board appointments include Australian businesswoman, Vanessa Guthrie, currently the chairperson of the... 

Kazakh vanadium miner is first 2019 London listing in sector

By: Reuters     28th March 2019 Ferro-Alloy Resources Group, which is producing vanadium in Kazakhstan, lists on the London stock market on Thursday, marking the first junior flotation in the sector this year. Vanadium has traditionally been used for strengthening steel, but its price has risen 450% in three years on... 

Kazakh vanadium miner is first 2019 London listing in sector

Jubilee achieves positive results in interim period

By: Natasha Odendaal     28th March 2019 AltX- and Aim-listed Jubilee Metals Group on Thursday posted a lift in earnings for the six months ended December 31, as the Hernic operations, in Limpopo, continued to deliver strong operational and financial results. The group achieved earnings a share of 0.06p during the half-year under... 

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