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Gold miners must focus on returns, mergers to attract investment - Barrick CEO

By: Reuters     22nd May 2019 Gold miners must focus on maximising returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday. "The industry is in decline and we have put ourselves in a very a tight spot because we haven't... 

Minerals Council welcomes safety improvements, but warns of continuing policy concerns 

By: Nadine James     22nd May 2019 The Minerals Council South Africa will, later this year, launch a new health and safety initiative called Khumbela iKhaya, council chaiperson Mxolisi Mgojo revealed on Wednesday. Addressing the council's annual general meeting, he noted that appreciable improvements in the health and safety... 

Glencore and First Cobalt team up to restart refinery

By: Esmarie Iannucci     22nd May 2019 Diversified miner Glencore has thrown its support behind the restart of dual-listed First Cobalt’s refinery in Ontario. The two companies have signed a memorandum of understanding (MoU) to supply cobalt feedstock and financing to recommission the First Cobalt refinery, with First Cobalt and... 

Hudbay is said to prepare sale of Arizona copper mine stake

By: Bloomberg     22nd May 2019 Hudbay Minerals is preparing a sale of a stake in one of the largest copper mines under development in the US as an investor pushes the company to review its portfolio, people familiar with the matter said. The Toronto-based base metals miner has interviewed potential advisers about selling a... 

Minister publishes amendments to financial provisioning regulations for mine closure  

By: Nadine James     21st May 2019 Environmental Affairs Minster Nomvula Mokonyane has gazetted additional amendments to the Financial Provisioning Regulations for the rehabilitation and remediation of environmental damage caused by exploration and/or mining activity. The regulations stipulate the manner in which mining... 

Traka accelerates expansion into wider African markets

By: Creamer Media Reporter      20th May 2019 Leveraging on almost two decades of experience in South Africa, and a presence in a further six African countries, networked key and equipment management solutions company Traka Africa announces an acceleration in their growth strategy. It plans to open new operations or expand more widely in... 

Buoyed by mining recovery, Barloworld looks to Mongolia for growth 

By: Irma Venter     20th May 2019 Barloworld’s results on Monday reflected some of the biggest trends in the South African economy, with the company reporting a sharp drop in equipment sales to the troubled construction industry, as well as a decline in new-vehicle sales and car rental days, but with the mining industry seemingly... 

Indian electricity regulator revives compensatory facility for coal-importing power companies

By: Ajoy K Das     20th May 2019 The Indian electricity regulator has amended rules to revive an erstwhile window through which domestic thermal power generation companies were able to claim compensation for the additional costs of importing coal in the case that State-miner Coal India Limited’s (CIL’s) failed to meet supply... 

SolGold announces PEA results for Alpala

By: Mariaan Webb     20th May 2019 LSE- and TSX-listed SolGold on Monday published the results of a preliminary economic assessment (PEA) for the Alpala copper/gold/silver deposit at the Cascabel project, in northern Ecuador. The study estimated a “low” start-up capital expenditure of $2.4-billion to $2.8-billion and a “high” net... 

Gemfields reports signs of recovery in emerald sector

By: Tasneem Bulbulia     20th May 2019 JSE-listed Gemfields continues to see “encouraging” signs of a recovery in the emerald sector, product and sales MD Adrian Banks said in a statement on Monday. This follows Gemfields’ latest auction of higher-quality rough emeralds, in Singapore, which generated revenue of $22.4-million and... 

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