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Latest News

Nickel Mines raises A$55m in placement

By: Creamer Media Reporter      5th June 2019 ASX-listed Nickel Mines has raise A$55-million in a share placement as the first tranche of a multi-component financing package to increase its stake in the Ranger project from 17% to 60%. The placement will see the issuance of 137.5-million new shares at a price of A$0.40 a share, which is a... 

Sibanye halves job losses at its South African gold operations 

By: Schalk Burger     5th June 2019 A consultation process with stakeholders regarding the restructuring of Sibanye-Stillwater’s gold operations, in South Africa, has resulted in expected job losses being nearly halved to 3 450. When it embarked on the Section 189A process in February, the precious metals producer had expected 5... 

Sibanye halves job losses at its South African gold operations
Sibanye CEO Neal Froneman

Alkane to beat production guidance, expects first underground ore shortly

By: Creamer Media Reporter      5th June 2019 As work on the underground operation at the Tomingley mine continue, listed miner Alkane Resources reported on Wednesday that it expected production from the processing of stockpiles at the New South Wales-based mine to beat its previous forecast. Gold production from processing medium-grade... 

St Barbara partners with Alice Queen on Horn Island

By: Creamer Media Reporter      5th June 2019 Gold explorer Alice Queen on Wednesday announced that mid-tier miner St Barbara had entered into an earn-in and joint venture (JV) agreement over the Horn Island gold project, in the Torres Strait of Queensland. In terms of the agreement with Alice Queen’s 84.5%-owned Kauraru Gold subsidiary, St... 

Azure to start trial mining at Mexico project

By: Creamer Media Reporter      5th June 2019 Australia-based emerging miner Azure Minerals on Wednesday announced that its board had approved the start of trial mining and processing of high-grade mineralisation from its Oposura zinc/lead project in Sonara, Mexico. Operations would start in the September quarter and would be funded through... 

Altura closes in on nameplate after record month

By: Creamer Media Reporter      5th June 2019 Lithium miner Altura Mining is closing in on its nameplate capacity at its namesake project in Pilgangoora, Western Australia, following a month of record production in May. The project has achieved multiple daily record production levels at or above the nameplate capacity of 220 000 t/y of 6%... 

Toro’s Mako mine exceeds expectations

By: Simone Liedtke     5th June 2019 Gold miner Toro Gold’s Mako mine, in Senegal, continues to outperform production and cost forecasts, while maintaining a strong safety record, CEO Martin Horgan says. The mine had maintained its performance momentum from 2018 over the first quarter of this year, with operations, gold production,... 

Dacian Gold share price plunges 67%

By: Mariaan Webb     5th June 2019 Gold miner Dacian Gold’s share price was hammered on Wednesday as the company revised its production guidance and announced the start of a “strategic review to consider corporate approaches”. The operator of the Mt Morgans mine, in Western Australia, lowered its production guidance for the June... 

Thor Explorations Nigeria project now 89% funded

By: Creamer Media Reporter      5th June 2019 Canadian junior Thor Explorations is making steady progress with its Segilola gold project, in Nigeria, announcing on Tuesday that it had signed an engineering, procurement and construction contract and that the $97.6-million project was now 89% funded. Chinese-headquartered Norinco... 

Anglo American Coal study shows ecological value of mining sites

By: Creamer Media Reporter      5th June 2019 Anglo American Coal’s Isibonelo Colliery is emerging as a noteworthy case study for how rehabilitated landscapes can play an important role in conservation and biodiversity, including a ground-breaking study on the population of serval in the Mpumalanga coalfields. Isibonelo is home to a large... 

Anglo American Coal study shows ecological value of mining sites

World Bank cuts global outlook as trade tumbles to decade low

By: Bloomberg     5th June 2019 The World Bank cut its 2019 global growth forecast, citing a slowdown in trade growth to the weakest since the financial crisis a decade ago and a drop in global investment. The bank forecast that the world economy will expand 2.6% this year, compared with a projection of 2.9% it made in January... 

Australia mining investment recovery, exports to add to GDP growth – RBA

By: Reuters     5th June 2019 A gradual pick-up in mining investment in Australia combined with solid export demand for the country's commodities will likely contribute to broader economic growth over the next year, a senior central bank economist said on Wednesday. The resource sector accounts for 20% of Australia's... 

Australia mining investment recovery, exports to add to GDP growth – RBA

US report urges steps to reduce reliance on foreign critical minerals

By: Reuters     5th June 2019 The US Commerce Department on Tuesday recommended urgent steps to boost domestic production of rare earths and other critical minerals, warning that a halt in Chinese or Russian exports could cause "significant shocks" in global supply chains. The report includes 61 specific recommendations -... 

US report urges steps to reduce reliance on foreign critical minerals

China to consider strengthening controls on rare earth exports – NDRC

By: Reuters     5th June 2019 China will consider strengthening controls on exports of rare earths, 17 chemical elements used in high-tech consumer electronics and military equipment, to protect and better use such "strategic resource", the State planner said on Tuesday. Rising tensions between the United States and China... 

Argentine court denies challenge to law against mining on glaciers

By: Reuters     5th June 2019 Argentina's Supreme Court on Tuesday shot down a challenge to an environmental law banning mining in glacial areas that had been brought by Canadian miner Barrick Gold. "The challenge posed by Barrick is ruled inadmissible," according to the ruling. 

Zambia's Lungu resolved to 'evict' Vedanta as hearing postponed

By: Bloomberg     5th June 2019 Zambia will press ahead with the legal process to liquidate Vedanta Resources' local copper unit, President Edgar Lungu said, as a ruling about the matter was postponed to June 11. “We are resolved, we are determined to proceed with the liquidation process,” Lungu said Tuesday in comments... 

Steinmetz's BSGR bankruptcy fends off Vale's $2bn award

By: Bloomberg     5th June 2019 Billionaire Beny Steinmetz’s mining company sought bankruptcy protection in the US, two months after losing a $2-billion arbitration award to Brazilian mining giant Vale SA. The court filing by BSG Resources on Monday could stymie Vale’s effort to enforce the award, which stems from an ill-fated... 

Steinmetz's BSGR bankruptcy fends off Vale's $2bn award

Top miners doing well, but not getting credit for it – PwC 

By: Simone Liedtke     4th June 2019 The world’s top 40 mining companies continued to consolidate their performance of the past several years by delivering steady growth in 2018, PwC’s ‘Mine 2019’ report, published on Tuesday, states. Combined, these companies’ revenue had increased by 8% year-on-year, which PwC says was buoyed by... 

Top miners doing well, but not getting credit for it – PwC
Photo by Creamer Media's Dylan Slater
(Left to Right) PwC assurance partner Andries Rossouw, PwC director Sizwe Mtetwa and PwC Africa energy utilities and resources leader Michal Kotzé

Arianne Phosphate in MoU with Chinese firm for Quebec project

By: Creamer Media Reporter      4th June 2019 Development-stage phosphate mining company Arianne Phosphate has entered into a nonbinding memorandum of understanding (MoU) with Chinese State-owned enterprise Sinoconst relating to the development of the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region. The parties have agreed to... 

Junior Indaba panel finds sentiment in Charter towards juniors still lacks  

By: Marleny Arnoldi     4th June 2019 Opening the Junior Indaba, in Auckland Park, on Tuesday, chairperson Bernard Swanepoel questioned whether Mining Charter III had helped to kickstart exploration activity in South Africa’s mining sector. Swanepoel mentioned that the prevailing sentiment seemed to be that, while the gazetted... 

Junior Indaba panel finds sentiment in Charter towards juniors still lacks
Photo by Creamer Media's Dylan Slater
A Junior Indaba panel discussion

Junior mining badly in need of kickstart – Swanepoel   

By: Martin Creamer     4th June 2019 Junior mining is badly in need of a policy framework that will kickstart activity, mining luminary Bernard Swanepoel said on Tuesday. Speaking to a packed 2019 Junior Indaba conference for explorers, developers and investors in junior mining, Swanepoel outlined how he had boldly stepped into the... 

Junior mining badly in need of kickstart – Swanepoel
Junior Indaba opening addresses covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Creamer Media’s Dylan Slater.

Vedanta's Zambia court hearing adjourned for a week

By: Reuters     4th June 2019 A court hearing following Zambia's decision to name a provisional liquidator to run Vedanta Resources' Konkola Copper Mines (KCM) business was adjourned for a week on Tuesday without tackling Vedanta's demands to be involved, the company said. Vedanta Resources, part-owner of the Mumbai-listed... 

Tulkubash gold reserves increase by nearly 40%

By: Creamer Media Reporter      4th June 2019 Aim-quoted Chaarat has updated the feasibility study for its majority-owned Tulkubash oxide gold project, in Kyrgyzstan, following a 39% increase in reserve to 22.2-million tonnes for 358 000 oz of gold. The updated study estimates that Tulkubash would produce an average of 94 000 oz/y of gold... 

Unfolding environmental disaster

By: African News Agency      4th June 2019 A security company responsible for safeguarding a gold treatment plant belonging to Mintails on the West Rand withdrew last week, citing “financial constraints”. The evacuation, which follows the liquidation of the embattled mining company and its subsidiaries, has left the door wide open to... 

Po Valley eyeing dual listing on Aim

By: Creamer Media Reporter      4th June 2019 Oil and gas explorer Po Valley Energy is considering a dual listing on the Aim market of the London Stock Exchange, the ASX-listed company reported on Tuesday. “The London market is more knowledgeable and focused on European gas and energy assets and we expect a dual listing could result in... 

Zenith sells Mt Alexander to focus on lithium project

By: Creamer Media Reporter      4th June 2019 ASX-listed Zenith Minerals has accepted a A$2.75-million offer from a private Australian company for its Mt Alexander magnetite iron project in Western Australia. Zenith will receive from Mt Alexander Iron Ore an up-front cash payment of A$250 000, as well as ten yearly payments of A$250 000... 

Constantine publishes Alaska zinc/copper project PEA

By: Creamer Media Reporter      4th June 2019 TSX-V-listed Constantine Metal Resources has announced the results of a preliminary economic assessment (PEA) for its 51%-owned Palmer zinc/copper/gold/silver project, in south-east Alaska, demonstrating a “high-quality project with strong economics”. CEO Garfield MacVeigh said on Wednesday that... 

Tirupati to raise £3m for growth projects

By: Creamer Media Reporter      4th June 2019 Flake graphite producer Tirupati Graphite plans to raise up to £3-million through the placement of convertible loan notes to fund its growth projects. The company wants to expand its existing production capabilities to become a significant producer of primary high-quality flake graphite in... 

Gold Fields sells down stake in Maverix Metals

By: Creamer Media Reporter      4th June 2019 Gold miner Gold Fields, through its Gold Fields Netherlands Services (GF Netherlands) subsidiary, has sold down its stake in Vancouver-based precious metals royalty and streaming company Maverix Metals to 11.65%, the company reported on Tuesday. The sale was made on May 31 in a private... 

Barrick’s Bristow discusses Porgera lease extension with new PNG leader

By: Creamer Media Reporter      4th June 2019 Gold mining major Barrick CEO Mark Bristow on Monday met with the new leader of Papua New Guinea, Prime Minister James Marape, over the extension of the Porgera joint venture’s special mining lease, which expires in two months’ time. Barrick said in a statement that Bristow and Zijin Mining... 

Kenmare growth plans on track as WCP B relocation is approved

By: Simone Liedtke     4th June 2019 LSE-listed Kenmare Resources’ board has approved the $106-million relocation of wet concentrator plant (WCP) B to the Pilivili ore zone at Moma titanium minerals mine, in northern Mozambique. This follows the completion of a definitive feasibility study, which confirmed the technical and economic... 

Parsons warns of possible ‘technical recession’ after first-quarter GDP contraction   

By: Tasneem Bulbulia     4th June 2019 South Africa’s gross domestic product (GDP) is unlikely to grow by more than about 1% this year, North West University Business School economist Professor Raymond Parsons said on Tuesday, following the announcement by Statistics South Africa (Stats SA) that GDP had contracted by 3.2% in the first... 

Parsons warns of possible ‘technical recession’ after first-quarter GDP contraction

Pensana raises $5m for Longonjo PFS

By: Creamer Media Reporter      4th June 2019 ASX-listed Pensana Metals has raised $5-million through the private placement of 250-million shares at $0.02 a share. The funds will be spent on the prefeasibility study (PFS) into the development of its Longonjo neodymium/praseodymium (NdPr) project, in Angola. 

Lithium mining superpowers seek riches as battery makers

By: Bloomberg     4th June 2019 The race by Tesla, Samsung SDI and other technology giants to secure supplies of lithium — a key ingredient in batteries for electric vehicles and smartphones — is creating a unique chance for two global mining superpowers to reap more value from their natural resources. Australia and Chile are... 

Lithium mining superpowers seek riches as battery makers
The Talison lithium mine, in Australia.

Australia, Malaysia to meet over rare earths on June 20

By: Reuters     4th June 2019 Australian and Malaysian government officials are due to meet later this month, a state mining spokeswoman confirmed and the plan for Lynas Corp's controversial rare earths waste storage in the country is likely to be at the top of the agenda. Bill Johnston, Western Australia's Minister for... 

Minto to reopen as mine is sold for $20m

By: Mariaan Webb     4th June 2019 LSE-listed Pembridge Resources has closed a transaction to buy the Minto mine in Canada’s Yukon from Capstone Mining – nearly a year-and-a-half after the deal was first announced. Pembridge initially offered to buy Minto for $37.5-million, but then struggled to close the equity financing element... 

Minto to reopen as mine is sold for $20m
The Minto mine in the Yukon.

South Australia puts A$10m in minerals discovery fund

By: Creamer Media Reporter      4th June 2019 South Australia has earmarked A$10-million for the accelerated exploration of the state’s yet-to-be identified mineral resources, Energy and Mining Minister Dan van Holst Pellekaan announced on Tuesday. The Accelerated Discovery Fund (ADF) would not be limiting the benefit of cofounding to only... 

South Australia puts A$10m in minerals discovery fund

PolarX gains Lundin Mining backing for Alaska project

By: Creamer Media Reporter      4th June 2019 Canadian base metals miner Lundin Mining has thrown its weight behind the Stellar copper/gold project in Alaska, with a A$4.3-million investment in PolarX, affording the company a 14.3% shareholding in the ASX-listed junior. The share subscription will make Lundin PolarX’s largest shareholder... 

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