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Project Management News

Canada’s exploration, mining industries call for government collaboration on policy priorities

By: Henry Lazenby     21st July 2015 At the seventy-second yearly conference of Canada’s Energy and Mines Ministers, the country’s exploration and mining industries on Monday lobbied for increased government attention in several challenging sector areas during the current period of economic downturn and uncertainty. The Canadian... 

Fortune Minerals inks restructuring accord with secured creditors

By: Henry Lazenby     18th July 2015 Canadian miner Fortune Minerals has entered into a two-pronged restructuring agreement with former funding partner LRC-FRSM (Lascaux) and its other secured creditors to settle its secured debt obligations. The TSX-listed company earlier this month announced that its subsidiary Fortune Revenue... 

Argentinian elections heat up as resource sectors offer country platform for recovery

By: Simon Rees     17th July 2015 It is likely that the new administration of Argentina, which heads to the polls later this year, will be more business friendly and market orientated, with mining and other natural resource sectors playing an increasingly significant role. “The money will start to flow in again once Argentina... 

Argentinian elections heat up as resource sectors offer country platform for recovery

Rickford highlights fed commitment to supporting the mining sector

By: Henry Lazenby     15th July 2015 The Canadian government's enhanced support for the mining industry through its Economic Action Plan will help ensure a thriving, dynamic mining sector that will provide jobs and growth for Canadians, Natural Resources Minister and Minister for the Federal Economic Development Initiative for... 

Namibia Rare Earths starts EIA for Lofdal project

By: Henry Lazenby     13th July 2015 Heavy rare earth project developer Namibia Rare Earths has started work on an environmental-impact assessment (EIA) for the Lofdal project, after selecting SLR Environmental Consulting to lead the study. The TSX-listed company had focused its operations in Namibia on baseline environmental... 

Project financing focused on power related resources

By: Dylan Stewart     10th July 2015 Owing to robust demand and acceptable hard currency returns, there has been a swing towards private equity funds and banks providing project financing for power-related projects in Africa in the last two years, says multinational financial services provider Barclays Africa head of natural... 

Rare earths company hopeful despite political conflict in Burundi

By: Dylan Stewart     10th July 2015 Mining exploration and development company Rainbow Rare Earths is closely monitoring events in Burundi, hoping for a peaceful resolution to political upheaval, including a failed military coup last month. 

WICKUS BOTHA Although the drop in commodity prices has really impacted many governments’ ability to fund big projects, Africa has to work through these economic headwinds and continue to invest in infrastructure
WICKUS BOTHA Although the drop in commodity prices has really impacted many governments’ ability to fund big projects, Africa has to work through these economic headwinds and continue to invest in infrastructure

Switching to growth mode top priority for mining and metals companies – EY

By: Creamer Media Reporter      8th July 2015 Cyclical behaviour and short-term focused shareholders had pushed a ‘switch to growth mode’ to the top of professional services firm EY's yearly ranking of business risks in mining and metals companies globally. "A switch to growth mode, productivity improvement and access to capital are all... 

Switching to growth mode top priority for mining and metals companies – EY

Graphite price index falls 3 percentage points

By: Henry Lazenby     7th July 2015 Weak end-markets had caused finer mesh grades of graphite to slip further as summer sales failed to see a seasonal upswing, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. The Benchmark Graphite Index fell a further three percentage points in June, down... 

Fortune Minerals defaults on Colorado-based Revenue silver mine debt

By: Henry Lazenby     6th July 2015 Canadian miner Fortune Minerals has defaulted on a metals prepay agreement with its major financing partner, triggering all amounts and deliveries owing under the contract to become immediately due and payable. Fortune and its subsidiary Fortune Revenue Silver Mines (FRSMI), which owned the... 

Low-cost maintenance management system for smaller miners

By: Schalk Burger     26th June 2015 A low-cost equipment, plant and mobile asset management system uses the existing information available from machine sensors and programmable logic controllers (PLCs) to provide near real-time asset and maintenance management, says electronics engineering firm Keystone Electronic Solutions... 

IVAN POPOV
The system is scalable and initial costs are so low that companies can test the system and then expand it, if they get satisfactory results
IVAN POPOV The system is scalable and initial costs are so low that companies can test the system and then expand it, if they get satisfactory results

Flinders to shutter Swedish operation till graphite prices improve

By: Henry Lazenby     23rd June 2015 Ten months after starting production at its Woxna graphite mine and processing facility, in central Sweden, TSX-V-listed Flinders Resources will shutter the operation in anticipation of better prices. The company reported this week that despite Woxna producing graphite to grade and recovery... 

Public comment sought on Mount Polley restart application

By: Henry Lazenby     23rd June 2015 The British Columbia provincial government is seeking public input to help ensure that Imperial Metals has a modern long-term remediation and restoration plan for the ill-fated Mount Polley mine in place by early next year, as the government considers allowing a temporary restart of the... 

Royal Nickel chooses Swedbank to advise on $600m bond financing

By: Henry Lazenby     22nd June 2015 Base metals project developer Royal Nickel Corporation (RNC) has appointed Swedbank Norway (Swedbank) as adviser for a senior bond financing of about $600-million, with a five-year maturity, to develop its Dumont nickel project, in Quebec. Swedbank would work closely with RNC to arrange the... 

Royal Nickel chooses Swedbank to advise on $600m bond financing

Mining industry to refocus metrics and methodologies on long-term efficiency

By: Simon Rees     22nd June 2015 Among analysts, fund managers and investors, questions surrounding liquidity, cash generation and squeezing out productivity gains dominated the conversation on how to best avoid the downcycle’s worst shoals. Many a management had tailored their project and operational metrics in response to... 

Dust from abandoned Cliffs' mine casts pall over eastern Canadian town

By: Reuters     19th June 2015 Heavy dust clouds blowing from Cliffs Natural Resources' abandoned Wabush iron-ore mine into a small township in the eastern Canadian province of Newfoundland and Labrador is putting a focus on the liability of miners that seek creditor protection and walk away from assets. Iron-ore and coal... 

Federal project supports women in mining

By: Henry Lazenby     17th June 2015 The federal government of Canada has announced support for a new project to help women advance within the country’s mining industry. Canada's Minister of Labour and Minister of Status of Women Dr K Kellie Leitch said on Wednesday that the Mining Industry Human Resources Council (MiHR) would... 

Tight mining labour market could compromise Canada’s competitiveness

By: Henry Lazenby     16th June 2015 The recent downturn in the mining industry had taken pressure off immediate hiring requirements, but several indicators pointed to what could only be termed as a malfunctioning labour market, which would only become more acute as the market recovered and entered a new phase of growth, a new... 

Tight mining labour market could compromise Canada’s competitiveness

Graphite price pressure remains despite Chinese output slowdown

By: Henry Lazenby     15th June 2015 Flake graphite prices continued to come under pressure in May, as Chinese efforts to reduce stockpiles saw prices for lower-value grades slip further, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. Benchmark analyst and MD Simon Moores advised in a... 

Molycorp defers second interest payment in 2 weeks

By: Henry Lazenby     15th June 2015 US rare earths producer Molycorp on Monday deferred making a second interest payment in two weeks. The Greenwood Village, Colorado-based miner said that it would take advantage of a 30-day grace period on a $3.36-million semi-annual interest payment related to its 3.25% senior unsecured... 

Molycorp defers second interest payment in 2 weeks

Prioritising short-term objectives over long-term strategy to haunt project developers

By: Simon Rees     11th June 2015 With short-term objectives taking precedence over long-term planning and strategy, the shortcomings of senior management and poor CEO performances often exacerbate and sometimes introduce many of the difficulties dealt with by mining companies. That was what mining industry veteran Larry Smith... 

North American Nickel gains strong foothold in Greenland nickel camp

By: Henry Lazenby     10th June 2015 Greenland-focused explorer North American Nickel (NAN) is in negotiations with a subsidiary of Swedish Iron producer LKAB Minerals to acquire the strategically important Seqi port, on the south-west coast of Greenland, that would give it a strategic geographic advantage in the emerging mining... 

Maniitsoq, Greenland.
Photo by North American Nickel
Maniitsoq, Greenland.

Maracas Menchen vanadium mine gathers momentum

By: Henry Lazenby     10th June 2015 Brazil-focused vanadium producer Largo Resources’ Maracas Menchen mine has recorded record output during May. The Bahia-state project produced 487 t of vanadium pentoxide last month, the highest since production started in August last year, and also set a new daily production record of 23 t. 

Madagascar nickel project suffers another setback

By: Henry Lazenby     4th June 2015 Diversified Canadian resource company Sherritt International has suffered another setback at the Ambatovy nickel/cobalt project, in Madagascar. Strikes at both the mine and plant, and a transformer failure had choked the operation’s ability to ramp up to the coveted 90% of design capacity for 90... 

Mergers and acquisitions drop 46% q/q – KPMG

By: Henry Lazenby     4th June 2015 During the three months ended March 31, the global mining industry has recorded the lowest number of mergers and acquisitions (M&A) transactions in years, recording only 14 transactions worldwide. This represented a drop of 46% quarter-over-quarter, professional services firm PwC said in its... 

Remote mining operations should spread more grassroots benefits

By: Simon Rees     3rd June 2015 As the mining industry is increasingly looking for world-class deposits in more remote jurisdictions, issues surrounding risk and engagement have become more pressing, seeing as local demands and often-shifting regulatory goal posts are complicating many a project developer's plans. Former... 

Remote mining operations should spread more grassroots benefits

Molycorp expected to file for bankruptcy after missing payment

By: Henry Lazenby     1st June 2015 US rare earths producer Molycorp’s NYSE-listed stock fell by as much as 21% after the embattled company announced that it would miss a $32.5-million twice-yearly interest payment owed on Monday on its 10% senior secured notes due 2020. The nonpayment triggered a 30-day grace period, which certain... 

Molycorp expected to file for bankruptcy after missing payment

Canadian Extractive Sector Transparency Measures Act comes into force

By: Henry Lazenby     1st June 2015 Canada’s new rules governing extractive sector transparency came into effect on Monday, forcing all extractive companies subject to the Act to report payments including taxes, royalties, fees and production entitlements of $100 000 or more to all levels of government in Canada and abroad. The... 

Canadian Extractive Sector Transparency Measures Act comes into force

Companies partner to deliver excellence in bulk

By: Dylan Stewart     29th May 2015 Supply chain solutions provider Barloworld Logistics and bulk commodities shipping and logistics company LBH Africa formed a strategic partnership in March to offer dry bulk commodity supply chain solutions into and out of Southern Africa. 

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby     28th May 2015 Professional services firm EY’s Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed midtier... 

Platinum project partners consolidate Waterberg JV, Extension projects

By: Henry Lazenby     26th May 2015 The joint venture (JV) partners of the South Africa-based Waterberg JV and the Waterberg Extension have agreed to consolidate the platinum projects into a unitised project area, following a firm $20-million funding commitment from JV partner Japan Oil, Gas and Metals National Corporation... 

New mineral development strategy seeks to maintain Ontario’s pole position 

By: Simon Rees     20th May 2015 Ontario’s Ministry of Northern Development and Mines (MNDM) executive adviser Rob Merwin recently stressed the importance of attracting back investment, especially in exploration, to the province, which currently had other jurisdictions champing at its heels for the title of Canada's best mining... 

New mineral development strategy seeks to maintain Ontario’s pole position

Rickford opens TSX in honour of National Mining Week

By: Henry Lazenby     14th May 2015 Canada’s Natural Resources Minister and Minister for the Federal Economic Development Initiative for Northern Ontario Greg Rickford opened the market at the TSX on Thursday in honour of National Mining Week, a yearly celebration of Canada's international leadership and expertise in mining.... 

Western Lithium named top over-the-counter securities performer

By: Henry Lazenby     14th May 2015 TSX- and OTC Markets Group-listed project developer Western Lithium USA has been named the number-one performer on the first ever ‘2015 OTCQX Best 50’, a ranking of 50 top performing companies, including companies such as Heineken and Zurich Insurance, that traded on the OTCQX Best Marketplace... 

High demand prompts Largo Resources to lift C$50m financing by C$20m

By: Henry Lazenby     13th May 2015 Vanadium producer Largo Resources has increased the C$50-million financing announced earlier this month by a further C$20-million on the back of strong demand from its existing shareholders. The company expected that funds managed by Arias Resource Capital Management would buy up to... 

Fed Mining Minister Rickford celebrates 19th National Mining Week

By: Henry Lazenby     11th May 2015 Canada’s Minister of Mining Greg Rickford on Monday celebrated the 19th National Mining Week that would run to Friday, touting the country’s international leadership and innovation in the sector and underscoring the importance of mining to communities across Canada. "Quite simply, mining matters... 

Fed Mining Minister Rickford celebrates 19th National Mining Week

Canadian major, midtier miners urged to prepare for transparency act compliance

By: Simon Rees     8th May 2015 The introduction of the Extractive Sector Transparency Act (ESTMA) would represent a sea change in the reporting of payments to government for Canadian seniors and midtiers, Borden Ladner Gervais partner Andrew Powers told an audience at the Canadian Institute of Mining’s management and economic... 

Canadian major, midtier miners urged to prepare for transparency act compliance

Molycorp stocks slide following wider Q1 loss, further financing needs

By: Henry Lazenby     8th May 2015 US integrated rare earths producer Molycorp’s NYSE-listed stock on Thursday slid 12.5% after the company reported a wider-than-expected first-quarter loss and confirmed that it would require further financing this year to meet its business plan and obligations as they became due. NYSE-listed... 

Molycorp stocks slide following wider Q1 loss, further financing needs
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