R/€ = 15.64 Change: 0.00
R/$ = 13.94 Change: 0.00
Au 1425.38 $/oz Change: -13.78
Pt 843.26 $/oz Change: -12.18

Latest News

Mineral resources budget prioritises exploration, beneficiation, licensing  

By: Nadine James     10th July 2019 Mineral Resources and Energy Minister Gwede Mantashe on Wednesday reiterated his belief that mining was a sunrise industry, while tabling the Department of Mineral Resources’ budget vote for 2019/20 in the National Assembly. The department has a R2-billion budget for the financial year. 

Deputy Minister hints at possible review of Mining Charter III 

By: Nadine James     10th July 2019 Mineral Resources and Energy Deputy Minister Bavelile Hlongwa on Wednesday said a discussion to review Mining Charter III “would be very relevant”, given the current iteration’s lack of an explicit provision for youth ownership. Speaking during the Department of Mineral Resources’ Budget Vote... 

Kefi targeting major milestones this year

By: Tasneem Bulbulia     10th July 2019 Aim-listed Kefi Minerals, with projects in Ethiopia and Saudi Arabia, is targeting a number of major milestones this year. Reporting on its activities for the quarter ended June 30, on Wednesday, the company highlighted that it was targeting an updated independent assessment of security and... 

Avesoro on track to achieve revised full-year guidance

By: Tasneem Bulbulia     10th July 2019 Dual-listed West African gold producer Avesoro Resources completed the operational aspects of the transition to contractor openpit mining at both the Youga and New Liberty mines, in Burkina Faso, during the second quarter, positioning it to achieve its revised production guidance of 180 000 oz to... 

Hair resigns as Hudbay CEO, Kukielski to lead in interim

By: Mariaan Webb     10th July 2019 The board of Toronto-based miner Hudbay Minerals has initiated a search for a new CEO, following the resignation of Alan Hair, who has been with the company for more than 20 years. The TSX-listed mining firm appointed Peter Kukielski, former Nevsun Resources CEO who recently joined the Hudbay... 

Hair resigns as Hudbay CEO, Kukielski to lead in interim
Alan Hair

Yamana adjusts FY guidance, reports strong second-quarter production

By: Mariaan Webb     10th July 2019 Canadian gold miner Yamana Gold on Wednesday reported strong preliminary second-quarter production results and updated its guidance for the year to reflect the completion of the sale of the Chapada mine, in Brazil, to Lundin Mining. The company produced 257 556 gold-equivalent ounces (GEOs) in... 

Yamana adjusts FY guidance, reports strong second-quarter production
The Canadian Malartic mine.

Consistent delivery from Central Asia’s Sasa and Kounrad

By: Creamer Media Reporter      10th July 2019 The Sasa and Kounrad operations that London-listed Central Asia Metals (CAML) own in Kazakhstan and north Macedonia, respectively, have achieved “another period of consistent delivery”, CEO Nigel Robinson said on Wednesday. The Kounrad solvent extraction and electrowinning copper plant produced... 

Corsa Coal CEO resigns

By: Creamer Media Reporter      10th July 2019 US metallurgical coal miner Corsa Coal announced on Tuesday that CEO George Dethlefsen would step down from his position on July 12, to pursue other opportunities. The company, which trades on the TSX-V, said in a media statement that Dethlefsen's departure was not the result of any dispute or... 

Eldorado Gold to meet production target

By: Mariaan Webb     10th July 2019 The share price of Canadian miner Eldorado Gold extended its recent gains on Tuesday, buoyed by election results in Greece and news that the company is on track to achieve its full-year production target. The miner, which owns mines in Turkey, Canada and Greece, produced 91 803 oz of gold in the... 

Eldorado Gold to meet production target
The Olympias mine, in Greece.

Higher ore reserve backs Sheffields' plans at Thunderbird

By: Esmarie Iannucci     10th July 2019 Mineral sands developer Sheffield Resources has reported a 10% increase in the ore reserve at its Thunderbird project, in Western Australia. Sheffield on Wednesday reported that some 68-million tonnes had been added to the Thunderbird reserve, bringing it to 748-million tonnes, grading at 11.2%... 

Coal India starts financial year with flat production growth

By: Ajoy K Das     10th July 2019 Coal India Limited (CIL) has recorded almost flat growth in production during April to June, putting under a cloud the government’s ambitious target for the miner to achieve an 8.5% growth for the current financial year. The State-run miner produced 137-million tons during the first three months... 

Leading Edge advances expandable graphite research from Woxna materials

By: Creamer Media Reporter      10th July 2019 European consultant ProGraphite has started research on producing expandable graphite using materials from the Woxna graphite mine, which Canadian firm Leading Edge Materials owns in Sweden. Leading Edge has previously produced expandable and expanded graphite products using Woxna graphite as a... 

Dacian soars on LoM plan for Mt Morgans

By: Esmarie Iannucci     10th July 2019 The share price of ASX-listed gold miner Dacian Gold increased by nearly 22% on Wednesday following an updated life-of-mine (LOM) review for its Mt Morgans project, which underpinned a more than one-million ounce production profile. The updated LOM plan estimated an average annual production of... 

Committee worried about budget size for safety, health in mines

By: African News Agency      10th July 2019 Parliament's committee on land reform, environment, mineral resources and energy said on Wednesday it was concerned at the budget allocated to safety and health in South Africa's mines, given ongoing fatalities. "The size of the allocation gives the impression that the department does not take... 

Czech PPF Group sells 4.5% stake in Russia's Polymetal

By: Reuters     10th July 2019 PPF Group, owned by the Czech Republic's richest businessman Petr Kellner, has sold a 4.5% stake in Russian gold and silver producer Polymetal, a bookrunner for the deal said on Wednesday. PPF Group, which now owns 6.5% in the Russian company, sold about 21-million shares in Polymetal at a... 

Brazil court convicts Vale for damages caused by deadly dam rupture

By: Reuters     10th July 2019 A Brazilian state judge on Tuesday convicted mining company Vale for damages caused by the deadly rupture of a tailings dam in January that killed at least 240 people. Judge Elton Pupo Nogueira ruled that Vale is responsible for fixing all the damages, although he did not set a monetary value... 

Giant copper project unblocked as Peru awards Tia Maria licence

By: Bloomberg     10th July 2019 Latin America’s second-largest copper producer got the green light to build a giant mine that’s key to plans to become one of the world’s top three producers of the metal. The Peruvian government awarded Southern Copper the license to start building its $1.4-billion Tia Maria project, which has... 

Giant copper project unblocked as Peru awards Tia Maria licence

Platinum firms kick off wage talks

By: Reuters     10th July 2019 The world's top platinum miners kicked off talks with South Africa's unions on Tuesday in what is expected to be a tough round of wage talks, as a rise in profits is likely to provoke higher wage demands. The majority union in the platinum sector, the Association of Mineworkers and Construction... 

Klein disappointed with Evolution's costs

By: Esmarie Iannucci     10th July 2019 Gold miner Evolution Mining has failed to hit its costs guidance for the 2019 financial year, with executive chairperson Jake Klein saying that the company was determined to remain focused on margins and operating efficiencies. Gold production in the June quarter reached 194 866 oz, bringing... 

Klein disappointed with Evolution's costs
Photo by Bloomberg
Evolution executive chairperson Jake Klein

Eskom has yet another headache – an $813m a year carbon tax bill

By: Bloomberg     10th July 2019 South Africa’s troubled state-owned power utility has yet another thing to worry about – a big carbon tax bill expected to kick in from 2023. Eskom Holdings, which has been forced to turn to the government for bailouts to meet its obligations, mostly burns coal to generate power and is one of the... 

Ramelius delivers sold June quarter

By: Esmarie Iannucci     10th July 2019 Gold miner Ramelius Resources has delivered another solid quarter of production for the three months to June, with the ASX-listed miner producing 47 342 oz during the quarter. The June quarterly production was well within the guidance of between 45 000 oz and 50 000 oz. 

Marindi raises cash for WA exploration

By: Esmarie Iannucci     10th July 2019 Explorer Marindi Metals will raise A$2.5-million through a share placement, convertible note deed and an entitlement offer to fund exploration programmes at its Forrestania gold and lithium projects, in Western Australia. The initial fundraising will consist of the placement of 116-million... 

Hendrix adds to Mt Hardy resources

By: Esmarie Iannucci     10th July 2019 ASX-listed Todd River Resources has reported a maiden mineral resource estimate of 2.6-million tonnes, grading 10.5% zinc equivalent at the Hendrix deposit, within its greater Mt Hardy copper/zinc project, in the Northern Territory. The mineral resource contains some 175 000 t of zinc, 22 500 t... 

OceanaGold's injunction delayed

By: Esmarie Iannucci     10th July 2019 Dual-listed gold miner OceanaGold on Wednesday told shareholders that there has been a delay in its application for an injunction against the unauthorised restraint of its Didipio operations, in the Philippines. The ASX- and TSX-listed miner last week filed for an injunction against the local... 

Acacia says it's worth far more than Barrick offered

By: Bloomberg     9th July 2019 Acacia Mining said it’s worth a lot more than the takeover offer proposed by Barrick Gold, showing the African gold miner is digging in its heels in a long dispute with its top shareholder. The company released a report by a consultant that put its “preferred value” at 271p a share. That’s 38%... 

Acacia says it's worth far more than Barrick offered
Photo by Reuters
Barrick CEO Mark Bristow

Indian State-run companies drop investment plans in Adani’s LNG terminal project

By: Ajoy K Das     9th July 2019 Indian State-run oil refiner-marketer Indian Oil Corporation (IOC) and gas infrastructure and logistics major GAIL India have passed up the option to pick up a 50% stake in a liquefied natural gas (LNG) terminal project proposed by the Adani Group in the eastern coastal state of Odisha. Indian... 

Mining stocks could rebound with help from Trump and China

By: Bloomberg     9th July 2019 The backdrop for miners is ready to brighten in the second half of this year. They just need a resolution of the trade war between the US and China to light a fire under their stocks. Metal prices and mining equities have been at the mercy of trade headlines all year, and business fundamentals... 

‘Weak’ carbon tax to be significantly strengthened from 2023 – Treasury official 

By: Terence Creamer     9th July 2019 A leading National Treasury official has warned industry to prepare for a significant strengthening of South Africa’s carbon tax during the second phase of implementation, which will begin in January 2023, describing the first phase, which came into force on June 1, as “weak”. South Africa’s... 

‘Weak’ carbon tax to be significantly strengthened from 2023 – Treasury official
Photo by Creamer Media
National Treasury deputy director-general Ismail Momoniat

Kibo changes MCPP mining licence application approach

By: Creamer Media Reporter      9th July 2019 Aim- and JSE-listed Kibo Energy has decided to convert its application for a special mining licence (SML) for the Mbeya coal-to-power project (MCPP), in Tanzania, to seven mining licences. It said on Tuesday that the decision had been taken in the interest of a "better economic outcome for all... 

Katoro to assess Haneti's lithium potential

By: Creamer Media Reporter      9th July 2019 Aim-listed Katoro Gold will investigate the potential of lithium and rare earth element mineralisation that has been identified at its 75%-owned Haneti nickel project, in Tanzania. The company, which has focused on the exploration of nickel sulphides at the project, on Tuesday reported that its... 

Wyoming honours reclamation efforts at Arch Coal’s Black Thunder

By: Creamer Media Reporter      9th July 2019 US coal miner Arch Coal’s Black Thunder mine has been awarded the Wyoming Department of Environmental Quality (DEQ) reclamation award, an accolade that president and COO Paul Lang said on Tuesday was a “great honour for the men and women at the mine”. "We applaud the exceptional efforts of the... 

Congo's Jan to May copper output slides 16%, cobalt down 21%

By: Reuters     9th July 2019 Copper production in Democratic Republic of Congo, Africa's top producer, fell by 16.2% year-on-year in the January to May period, while cobalt output slid 21.5%, the central bank said on Tuesday. Copper output for the first five months of 2019 stood at 416 067 t compared with 496 468 t in the... 

Medallion considering US, Canada for rare-earth plant

By: Mariaan Webb     9th July 2019 TSX-V-listed junior Medallion Resources, which is pursuing production of magnet metals, believes the time is right to start selecting potential sites for a rare earth plant as part of a strategy of rebuilding a North American rare earth value chain. The company is seeking third-party proposals... 

Medallion considering US, Canada for rare-earth plant

Base Resources’ Kenya mine resumes full production

By: Marleny Arnoldi     9th July 2019 ASX- and Aim-listed Base Resources has returned its mining rates to nameplate capacity, after having transitioned activity at its Kwale mineral sands operation, in Kenya, to the South Dune orebody. The company on Tuesday said that while the transition of mining operations had been under way,... 

Exciting new stimulus for hydrogen power, fuel cells, platinum economy 

By: Martin Creamer     9th July 2019 The emerging world of hydrogen power, fuel cells, platinum and climate change mitigation received another stimulus on Tuesday with the announcement of new high-level investment backing for a fund that promotes technologies dependent on the high-performance characteristics of platinum group metals... 

Exciting new stimulus for hydrogen power, fuel cells, platinum economy
Photo by Creamer Media
AP Ventures managing partner Andrew Hinkly

Phoenix lines up lead adviser for Empire feasibility and construction funding

By: Creamer Media Reporter      9th July 2019 North America-focused base and precious metals exploration and development company Phoenix Copper has appointed mining finance advisory firm Medea Natural Resources as lead financial adviser to arrange up to $70-million for the construction of the Empire Mine openpit project, in Idaho, US. The... 

Nyrstar extends stoppage at Port Pirie smelter until late July

By: Reuters     9th July 2019 Metals and mining company Nyrstar said on Tuesday that it was extending force majeure at its Port Pirie lead and zinc smelter in Australia until the last week of July. The Belgium-based company now expects both the TSL and the blast furnace to restart by the end of July. 

Century has record quarter as production ramps up

By: Esmarie Iannucci     9th July 2019 Base metals miner New Century Resources has reported record quarterly zinc production in the three months to June, as production at its namesake project in Queensland, continued to ramp-up. Overall zinc metal output during the three months to June increased by 12%, to 20 450 t of zinc metal... 

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