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Latest News

From turbines to thermostats: Copper miners eye high-tech demand

By: Reuters     11th April 2019 Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity. That bodes well for the likes of... 

Zulti South, platinum jewellery and green hydrogen make headlines  

11th April 2019 This week Mining Weekly editor Martin Creamer unpacks Rio Tinto's $463-million Zulti South Project, platinum jewellery stimulating platinum demand and green hydrogen being used to ensure carbon-free driving in a time of increasing vehicle electrification.   

Zulti South, platinum jewellery and green hydrogen make headlines
Zulti South, platinum jewellery and green hydrogen make headlines.

Codelco 'perfectly well' financed for next two years - chairman

By: Reuters     11th April 2019 Chile's Codelco, the world's biggest copper producer, is "perfectly well financed" for the next two years as it pushes forward with its largest-ever drive to revitalize its aging mines, chairperson Juan Benavides said on Wednesday. State-owned Codelco, which produces nearly one-tenth of the... 

Good start to 2019 for Central Asia Metals

By: Creamer Media Reporter      10th April 2019 London-listed Central Asia Metals Limited (CAML) has had a good start to the year at its Kounrad and Sasa operations, with the company on Wednesday declaring that it was on track to meet its full-year guidance for copper, zinc and lead. The Kounrad dump leach, solvent extraction and... 

Good start to 2019 for Central Asia Metals

Zimbabwe's currency reforms aren't sufficient, miners say

By: Bloomberg     10th April 2019 Zimbabwe’s currency reforms have not gone far enough and complete liberalization is needed to end a critical shortage of foreign exchange that is hampering business, senior executives from the nation’s mining industry said. The southern African country began formal trading in February of what’s... 

Gold Fields declares maiden reserve at Salares Norte, targets first gold in 2023 

By: Marleny Arnoldi     10th April 2019 Gold Fields earlier this year completed a definitive feasibility study (DFS) on its Salares Norte project, in Chile, South America, which enabled the company to declare a maiden reserve for the project. The company started exploration on the prospect in March 2011, with drilling to date... 

Gold Fields declares maiden reserve at Salares Norte, targets first gold in 2023
Photo by Creamer Media
Gold Fields CEO Nick Holland

Zimbabwe pursuing favourable policies to attract more mining investment 

By: Tasneem Bulbulia     10th April 2019 To pursue meaningful and increased exploration, fully capitalise on economic benefits and increase investment in the mining sector, the Zimbabwean government has embarked on a number of policies to engender a favourable environment for investors. Deputy Mines and Mining Development Minister... 

Zimbabwe pursuing favourable policies to attract more mining investment

Zimbabwe, Russia finalise deal for $4bn platinum mine

By: Bloomberg     10th April 2019 Zimbabwe has signed an agreement with Russia to build a new platinum mine in the southern African country, finalising a deal that’s stalled since 2014. A deal to develop a new platinum-group metals mine on a prospect held by Great Dyke Investment, a company jointly owned by a Russian... 

Kalahari Metals to expand prospect in Kalahari copperbelt

By: Marleny Arnoldi     10th April 2019 Aim-listed Metal Tiger’s 50%-owned subsidiary Kalahari Metals has entered into a binding agreement with Resource Exploration and Development (RED) to acquire 100% of RED’s Kitlanya subsidiary. The acquisition will effectively reduce Metal Tiger’s interest in Kalahari Metals to about 43.9%.  

Copper producer KGHM may freeze more mines in Canada, US - CEO

By: Reuters     10th April 2019 Poland's KGHM, one of the world's biggest copper and silver producers, has no plan to sell its foreign assets but may freeze some in Canada or the United States if they require big investments, its chief executive said. State-run KGHM, which for many years had focused only on Poland, accessed... 

Copper producer KGHM may freeze more mines in Canada, US - CEO
Marcin Chludzinski

First Cobalt targets Canada plant restart within 2 years – CEO

By: Reuters     10th April 2019 First Cobalt aims to restart an idled cobalt refinery in Canada within two years and is in talks to supply the battery-grade product to four leading automakers, CEO Trent Mell said on Wednesday. The Toronto-based company is planning a $30-million revamp of the plant, located in the appropriately... 

First Cobalt targets Canada plant restart within 2 years – CEO
First Cobalt's refinery in Ontario.

Anglo Asian's Azerbaijan gold output rises 5%

By: Reuters     10th April 2019 Azerbaijan's leading gold mining company, Anglo Asian Mining, said on Wednesday its gold output rose 5% in the first quarter of 2019 to 17 245 oz. London-listed Anglo Asian produces gold at Gedabek and other Azeri mines in a joint venture with the Azeri state in which the company holds 51%. 

Bushveld subsidiary advances Imaloto project towards financial close

By: Marleny Arnoldi     10th April 2019 Aim-listed Bushveld Minerals’ coal and energy subsidiary Lemur Holdings has signed a project preparation finance facility agreement with the Development Bank of Southern Africa for $1-million, which will be used for the development of the Imaloto project, in Madagascar. The loan will enable Lemur... 

McEwen exploring potential sale of Mexican assets 

By: Mariaan Webb     10th April 2019 Toronto-headquartered McEwen Mining is considering selling its Mexican assets, which include the El Gallo mine in Sinaloa state. The proceeds of a potential sale would be used to advance development projects and the balance would be used to retire a portion of its debt, the company said in a... 

McEwen exploring potential sale of Mexican assets

Nearly 2 000 Zambian villagers can sue Vedanta in English courts – Supreme Court

By: Reuters     10th April 2019 Nearly 2 000 Zambian villagers have the right to sue mining company Vedanta in the English courts, London's Supreme Court said on Wednesday, raising the prospect other companies could face legal action in England related to their activities abroad. India-listed Vedanta, which delisted from London... 

Sibanye raises R1.7bn in share placement  

By: Marleny Arnoldi     10th April 2019 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has placed 108.93-million new ordinary shares at R15.50 apiece with existing and new institutional investors, raising gross proceeds of about R1.7-billion, or $120-million. The shares represent around 5% of the company’s issued... 

Sibanye raises R1.7bn in share placement
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Australia's Wollongong Coal shuts down last operating mine

By: Reuters     10th April 2019 Wollongong Coal Ltd said on Wednesday it was suspending its last operational mine after putting its Wongawilli colliery under "care and maintenance," likely increasing the financial challenges the company faces. Wollongong made the decision to suspend Wongawilli, located in New South Wales,... 

Australia's Lynas Corp says Wesfarmers bid undervalues its IP, rejects offer

By: Reuters     10th April 2019 Rare earths miner Lynas Corp said on Wednesday its board had concluded it would not engage with conglomerate Wesfarmers, stating its takeover offer undervalues the company's intellectual property. "Lynas has developed significant intellectual property (IP) in engineering, processing and product... 

Australia establishes a battery research centre in Perth

By: Esmarie Iannucci     10th April 2019 The federal government is providing a A$25-million grant to an industry-led cooperative research centre aimed at developing battery manufacturing in Western Australia. The A$135-million Future Battery Industries Cooperative Research Centre will help tackle industry identified gaps in the battery... 

Australia establishes a battery research centre in Perth

Base lowers expectations for 2020

By: Esmarie Iannucci     10th April 2019 Mineral sands miner Base Resources has flagged lower production expectations for the 2020 financial year as operations at the Kwale mineral sands project, in Kenya, moved from the Central Dune orebody to the South Dune orebody. For the full 2019, Base is expecting to produce between 88 000 t to... 

Spectrum raises funds for Penny West exploration

By: Esmarie Iannucci     10th April 2019 Gold explorer Spectrum Metals will raise A$5-million to fund exploration at its Penny West project, in Western Australia. Spectrum will place more than 208.3-million shares at a price of 2.4c each to raise the capital, offering institutional and sophisticated buyers a 14% discount to its closing... 

Orinoco Gold chairperson quits

By: Esmarie Iannucci     10th April 2019 Embattled gold miner Orinoco Gold has reported the resignation of nonexecutive chairperson Adrian Byass and nonexecutive director Andrew Allan, only days after administrators were appointed. Orinoco at the end of last week appointed administrators after the ASX suspended share trading of Orinoco... 

Rox joins Venus on Youanmi hunt

By: Esmarie Iannucci     10th April 2019 Junior Rox Resources has signed a binding term sheet with fellow listed Venus Metals to acquire a majority stake in the Youanmi gold mine, in Western Australia. Under the terms of the agreement, Rox would acquire an initial 50% stake in the joint venture by providing Venus A$2.8-million to... 

ERA production slides during March quarter

By: Esmarie Iannucci     10th April 2019 Uranium miner Energy Resources of Australia (ERA) has reported a 14% drop in production during the three months to March, compared with the previous corresponding period. Uranium production during the first quarter reached 526 t, with ERA reporting a 9% decline in the tonnes of ore milled. 

Queensland miners spending more with local businesses

By: Esmarie Iannucci     10th April 2019 Queensland’s small- and medium-sized businesses are benefitting from the resource sector’s redirection of spending away from overseas and interstate suppliers. New data by the Queensland Resources Council has shown that spending by the resources sector on local small and medium-sized businesses... 

Middle Island lowers threshold for Alto deal

By: Esmarie Iannucci     10th April 2019 Junior Middle Island Resources has varied the minimum acceptance condition for its takeover offer of fellow-listed Alto Metals from 90% to 50.1%. The ASX-listed Middle Island on Wednesday said that all other conditions for the offer remained unchanged. 

Flinders tanks delisting plans

By: Esmarie Iannucci     10th April 2019 The share price of ASX-listed Flinders Mines rose by nearly 13% on Wednesday after the company scrapped plans to de-list from the ASX. Flinders said that the decision to withdraw its revised de-listing application from the ASX followed after shareholder consultation. 

BSG ordered to pay Vale $1.2bn over Simandou

By: Creamer Media Reporter      10th April 2019 An arbitral tribunal in London has ordered BSG Resources (BSGR) to pay Brazilian miner Vale $1.25-billion plus costs and interest in a case relating to the Simandou iron-ore concessions in Guinea. The award is for fraud and breaches of warranty by BSGR  – the mining arm of billionaire Beny... 

Mnuchin says Deripaska and family are minority Rusal owners

By: Bloomberg     10th April 2019 Treasury Secretary Steven Mnuchin said that Russian billionaire Oleg Deripaska and his family together own less than a majority of shares in United Co. Rusal, the world’s second-largest aluminum producer, after a settlement to get the company out from under US sanctions. The deal left Deripaska... 

Freeport plans no dividend hikes, M&A for 2 years to focus on Grasberg - CEO

By: Reuters     9th April 2019 Freeport-McMoRan plans no dividend raises, acquisitions or debt buybacks over the next two years as it focuses on expanding Indonesia's Grasberg copper and gold mine underground, its chief executive said in an interview on Tuesday. "For two years, we're going to be focused on this transition,"... 

Antofagasta to stay put on dividend policy but will return cash to shareholders

By: Reuters     9th April 2019 Chilean miner Antofagasta will retain its dividend policy of paying out at least 35% of underlying net earnings but will pay out excess funds from the proceeds of sales to shareholders, its chief executive said. "If you look at the last three or four years, we have been distributing close to... 

Antofagasta to stay put on dividend policy but will return cash to shareholders
Antofagasta CEO Iván Arriagada

Collahuasi copper mine expects to match 2018 record output this year -CEO

By: Reuters     9th April 2019 Chilean miner Collahuasi this year expects to match its 2018 production of copper, an all-time high for the company, its top executive said on Tuesday. Collahuasi, majority owned by Anglo American and Glencore, is a copper mine located in northern Chile and among the world´s largest. Last year... 

Block on competing licences at Prairie's Jan Karski lifted

By: Creamer Media Reporter      9th April 2019 An Appeals Court in Warsaw has overturned a Civil Court injunction that prevented the Polish Ministry of Environment (MoE) from granting competing licences over the Jan Karski project of Prairie Mining. The dual-listed company is in the midst of an ongoing civil law claim against the MoE, owing... 

South African PGMs industry risks upsetting global market dynamics

By: Simone Liedtke     9th April 2019 To ensure a sustainable platinum group metals (PGMs) market will require South Africa to balance its market in line with global supply, Sibanye-Stillwater business development executive VP Richard Stewart told delegates at the PGMs Industry Day, held in Johannesburg, on Tuesday. Dubbing the... 

Rio Tinto to join World Bank's green mining programme

By: Reuters     9th April 2019 Rio Tinto said on Tuesday it will join a World Bank initiative intended to help developing countries sustainably mine lithium, cobalt and other minerals critical to the global electrification trend. Rio's participation in the program, known as Climate-Smart Mining and set to launch in May, comes... 

South African platinum industry needs continuing collaboration – panel  

By: Simone Liedtke     9th April 2019 Despite cautious optimism among industry stakeholders about the platinum group metals (PGMs) industry’s forward momentum, Northam Platinum CEO Paul Dunne on Tuesday warned delegates at the PGMs Industry Day, in Johannesburg, that the industry was “not out of the woods yet”. Dunne lamented that... 

South African platinum industry needs continuing collaboration – panel
Impala Platinum mining executive Thabile Makgala discusses current trends in the platinum mining industry. Video and editing: Nicholas Boyd.

Cost of decarbonising global energy system falls sharply, new report shows 

By: Terence Creamer     9th April 2019 Rapidly falling renewable-energy costs, together with emerging opportunities to electrify other energy end-uses such as transportation and heating, are continuing to reduce the investment premium associated with placing the world on a more climate-friendly path, a new international report... 

Cost of decarbonising global energy system falls sharply, new report shows

Sibanye's first-quarter gold production falls on strike impact

By: Creamer Media Reporter      9th April 2019 Dual-listed Sibanye-Stillwater expects to report gold production of 104 000 oz for the first quarter of this year. That equates to about 90% of what was planned for under the strike conditions and 36% of the gold produced in the first quarter of 2018. Sibanye on Tuesday warned that unit operating... 

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