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Latest News

IMF slates unpredictable policies in report Tanzania blocked

By: Bloomberg     23rd April 2019 The International Monetary Fund said that Tanzania’s economy is being harmed by the government’s “unpredictable and interventionist policies” in a report whose release the East African country has blocked. Tanzania refused to authorize the publication of the report, the IMF said Wednesday in a... 

Xolobeni community asks Ramaphosa to stop Mantashe's upcoming visit

By: African News Agency      23rd April 2019 The Amadiba Crisis Committee on Monday asked President Cyril Ramaphosa and "democratic institutions" to stop Mines Minister Gwede Mantashe from visiting Xolobeni, where there is a raging dispute over keeping the area pristine versus allowing mining activities to go ahead. Mantashe's last visit to... 

Anglo stalwart appointed Pensana CEO  

By: Esmarie Iannucci     23rd April 2019 ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American’s operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed... 

Red 5 reports a solid March quarter

By: Esmarie Iannucci     23rd April 2019 Junior gold miner Red 5 has reported a steady production quarter in the three months to March, with gold production reaching 24 187 oz, compared with the 26 118 oz produced in the previous quarter. Gold sales for the March quarter declined slightly from 27 149 oz in the previous quarter, to 23... 

Laneway pours first gold in Qld

By: Esmarie Iannucci     23rd April 2019 First gold has been poured from the Agate Creek gold project, in North Queensland, ASX-listed Laneway Resources reported on Tuesday. The first gold pour was achieved within ten weeks of the grant of a mining lease, and three dore bars collectively weighing 22 kg of gold and silver bullion have... 

Apollo raises A$6m for exploration

By: Esmarie Iannucci     23rd April 2019 ASX-listed Apollo Consolidated is hoping to raise A$6-million through a share placement to accelerate drilling at its Lake Rebecca gold project, in Western Australia. The junior on Tuesday said that it had agreed to place 30-million new fully paid ordinary shares, at a price of 20c each, to... 

Echo updates Yandal BFS

By: Esmarie Iannucci     23rd April 2019 A revised bankable feasibility study into the Yandal gold project, in Western Australia, has estimated that a capital injection of A$42-million would be required to bring the project into production. The BFS is based in the refurbishment of ASX-listed Echo Resources’ Bronzewing processing plant... 

Northern Minerals lines the coffers with another A$15m

By: Esmarie Iannucci     23rd April 2019 Rare earths miner Northern Minerals will undertake a further A$15-million capital raise to repay its R&D financier. The new capital raise comes just a month after Northern Minerals undertook a A$20-million share placement to fund working capital expenditure and exploration. 

Bryah ups its game with OM Holdings JV

By: Esmarie Iannucci     23rd April 2019 ASX-listed junior Bryah Resources has struck a farm-in and joint venture (JV) agreement with fellow-listed OM Holdings to hunt for manganese on the Bryah Basin project. Under the terms of the agreement, OM will spend up to A$7.3-million to earn a 70% interest in the manganese mineral rights of... 

Australia’s minerals council calls for repeal of ‘discriminatory’ nuclear energy ban

By: Esmarie Iannucci     23rd April 2019 The Minerals Council of Australia (MCA) has called on the federal government to repeal a ban on nuclear energy. The call comes after Prime Minister Scott Morrison last week said in a radio interview that while nuclear energy was “not on the agenda”, he noted that nuclear energy had to pay its... 

Australia’s minerals council calls for repeal of ‘discriminatory’ nuclear energy ban

Ma’aden to acquire Phatisa’s controlling shareholding in Meridian Group

By: Marleny Arnoldi     23rd April 2019 Private equity fund manager Phatisa has reached an agreement with mining and metals company Ma’aden on the sale of its controlling shareholding in Meridian Group. Meridian is a prominent African agricultural inputs business, which distributes about 500 000 t/y of fertiliser across Malawi,... 

Teck Resources beats profit estimates on energy business

By: Reuters     23rd April 2019 Canadian miner Teck Resources, the world's second-biggest exporter of steelmaking coal, reported a better-than-expected quarterly profit on Monday, boosted by its energy business and a slight increase in commodity prices. The miner said even though commodity prices were lower than a year ago,... 

Teck Resources beats profit estimates on energy business
Teck CEO Don Lindsay

Congo-Brazzaville ships first iron-ore ahead of expected production boom

By: Reuters     23rd April 2019 Congo-Brazzaville shipped its first iron-ore exports on Friday ahead of an expected boom in production from mines owned by Congolese billionaire Paul Obambi's Sapro and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko... 

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

South Africa brings forward Eskom bailout to avert default

By: Reuters     23rd April 2019 South Africa's government has had to bring forward the bailout of state power firm Eskom, after it rushed R5-billion to the struggling utility earlier this month to avert a default and said more cash could be needed soon. Eskom supplies more than 90% of electricity in Africa's most advanced... 

South Africa brings forward Eskom bailout to avert default

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... 

JXTG declines to comment on Caserones copper mine sale report

By: Reuters     23rd April 2019 JXTG Holdings, a Japanese oil refiner and miner, on Monday declined to comment on a media report that it is exploring the sale of its majority-owned Caserones copper mine in Chile. The Wall Street Journal said on Friday that JXTG is exploring the sale of Caserones, which could gain the company... 

World's No 1 gold complex taking shape – Barrick

By: Mariaan Webb     23rd April 2019 The creation of the world’s largest gold producing complex, the yet-to-be-named joint venture (JV) of Barrick Gold and Newmont Goldcorp in Nevada, has cleared all regulatory conditions required for its completion, Canadian miner Barrick reported on Monday. This comes as the US Federal Trade... 

World's No 1 gold complex taking shape – Barrick
Newmont's Gary Goldberg and Barrick's Mark Bristow pictured together in March.

Cochilco holds 2019 copper forecast at $3.05/lb

By: Reuters     18th April 2019 Chile's Cochilco State copper commission on Thursday held its estimate for the price of copper at $3.05/lb, rising slightly to $3.08 for 2020 on improving prospects for growth in China. Cochilco said it saw production in Chile, the world´s top copper producer, at 5.96-million tonnes for 2019 and... 

Roxgold to start drilling at newly acquired Séguéla

By: Marleny Arnoldi     18th April 2019 TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth... 

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.

Petra recovers 209.9 ct diamond at Cullinan

By: Creamer Media Reporter      18th April 2019 Petra Diamonds on Friday recovered a 209.9 ct D-colour Type II gem-quality diamond at its Cullinan diamond mine, in South Africa. This is the third Type II D-colour gem-quality diamond weighing more than 100 ct recovered since March and the fourth such diamond recovered in the current financial... 

Barrick's quarterly performance in line with operating plan

By: Mariaan Webb     18th April 2019 Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating... 

Barrick's quarterly performance in line with operating plan

TomaGold spin-out Monster Lake takes option over property

By: Creamer Media Reporter      18th April 2019 TSX-V-listed TomaGold’s proposed spin-out Monster Exploration has entered into a share purchase option agreement to acquire an option over the Philibert property, 10 km south-east of its Monster Lake property in Quebec's Chibougamau mining camp. Pursuant to the agreement, Monster has the right... 

Gen Mining interested in Sibanye’s Marathon PGMs deposit

By: Mariaan Webb     18th April 2019 Minerals exploration company Generation Mining has struck an agreement to potentially earn up to 80% in Sibanye-Stillwater’s Marathon platinum group metals deposit in northern Ontario. Gen Mining has signed a letter of intent with Sibanye to earn an initial 51% interest in the property, which... 

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... 

Venezuela unrest may hurt Crystallex bid to reclaim $1.2bn

By: Bloomberg     18th April 2019 Confusion over who’s in charge in Venezuela may keep Crystallex International from collecting a $1.2-billion arbitration award. Crystallex, a bankrupt gold producer, is trying to seize shares of the US unit of Venezuela’s State-owned energy company that controls Citgo Holding . An appellate... 

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... 

Sasol reports stabilisation in synfuels output  

By: Terence Creamer     18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... 

Sasol reports stabilisation in synfuels output

Mantashe, Oliphant welcome end to Sibanye-Stillwater gold strike

By: Simone Liedtke     18th April 2019 Mineral Resources Minister Gwede Mantashe and Labour Minister Mildred Oliphant have welcomed the end of the Association of Mineworkers and Construction Union’s five-month strike at Sibanye-Stillwater’s gold operations. The parties announced the resolution of their differences on Wednesday. 

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. 

Weednanna proves promising for Alliance

By: Esmarie Iannucci     18th April 2019 The Weednanna gold project, in South Australia, would likely require a capital investment of some A$44.4-million, a scoping study has found ASX-listed Alliance Resources on Thursday said that the scoping study, based on a 250 000 t/y gold processing plant and tailings storage facility, had... 

St Barbara books solid quarter

By: Esmarie Iannucci     18th April 2019 Gold miner St Barbara has revised its production forecast at both its Gwalia and Simberi operations, in Western Australia and Papua New Guinea respectively. The ASX-listed miner was now expecting Gwalia to produce between 235 000 oz and 240 000 oz in the full 2019, compared with the previous... 

Sandfire ups outlook for 2019

By: Esmarie Iannucci     18th April 2019 Copper/gold miner Sandfire Resources has reported another strong quarter at its DeGrussa mine, in Western Australia. Copper production in the three months to March reached 16 062 t, which was on par with the 16 888 t produced in the previous quarter, while gold production also remained stable at... 

Resolute inks new mining convention in Mali

By: Esmarie Iannucci     18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... 

Galaxy fails to find JV partner for Sal de Vida

By: Esmarie Iannucci     18th April 2019 The share price of lithium miner Galaxy Resources fell by nearly 12% on Thursday after the company announced that it would close the joint venture (JV) process for its Sal de Vida project, without a deal. Through the second half of 2018 and early 2019, Galaxy conducted an evaluation of strategic... 

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