R/€ = 16.47 Change: -0.13
R/$ = 13.89 Change: -0.06
Au 1292.50 $/oz Change: 1.30
Pt 941.50 $/oz Change: 7.50

Mining News

Marmota considering treating Aurora Tank ore at WPG’s Challenger plant

By: Creamer Media Reporter      Updated 4 minutes ago ASX-listed junior Marmota is considering various options to bring its Aurora Tank gold project, in South Australia, into production, one of which is to treat ore at fellow listed WPG Resources Challenger gold processing plant, 50 km to the north-east. Marmota and WPG have executed a memorandum of... 

Syrah moves into operations at Mozambique mine

By: Mariaan Webb     Updated 44 minutes ago Australia-based Syrah Resources has produced its first saleable flake graphite from the Balama project, in Mozambique, and is now targeting production of 160 000 t to 180 000 t next year. The first bagged saleable flake graphite production was produced within an expected grade range of more than... 

Asian and Australian investors back Kvanefjeld capital raising

By: Mariaan Webb     Updated 1 hour 3 minutes ago ASX-listed Greenland Minerals and Energy has received strong support from Asian and international institutional investors in a placement to raise A$10.25-million. The capital raising, in which Ashanti Capital acted as lead manager, was undertaken at an issue price of A$0.09 a share, representing... 

Asian and Australian investors back Kvanefjeld capital raising
Kvanefjeld in Greenland is one of the most significant rare earth projects outside China.

Alcoa Canada, union resume aluminum smelter contract talks

By: Reuters     Updated 1 hour 28 minutes ago Alcoa Corp and the United Steelworkers have agreed to resume contract talks with a government-appointed conciliator, the union said on Thursday, averting a potential strike at the Becancour, Quebec aluminium smelter. The collective agreement for 1 030 unionised workers expired late Wednesday... 

Union for striking workers reaches tentative labor deal at Quebec zinc refinery

By: Reuters     Updated 1 hour 30 minutes ago The United Steelworkers said on Thursday it reached a tentative agreement with Noranda Income Fund on a new labour deal for 371 striking workers at a zinc refinery in Salaberry-de-Valleyfield, Quebec. Zinc output at the plant, operated by a subsidiary of global mining giant and trader Glencore,... 

Semafo chairperson passes

By: Henry Lazenby     Updated 1 hour 31 minutes ago West Africa-focused gold miner and regional explorer Semafo announced the sudden passing of its chairperson Jean Lamarre on Wednesday, following a short illness. Lamarre joined the company’s board in 1997 and was appointed chairperson in 2000, a position he held until his demise. 

Maverix picks up royalty on Endeavour’s Karma mine

By: Henry Lazenby     Updated 1 hour 38 minutes ago Royalty vehicle Maverix Metals will acquire a previously existing 2% net smelter return (NSR) royalty from a third-party seller, on Endeavour Mining’s 90% interest in the Karma gold mine, in Burkina Faso, for $20-million in cash. The mine and surrounding tenements were acquired by Endeavour in... 

Silvercorp to repurchase 5% of outstanding equity

By: Henry Lazenby     Updated 2 hours 17 minutes ago China-focused precious metals miner Silvercorp Metals has announced a normal course issuer bid for up to 5% of its outstanding equity. The company will attempt to repurchase 8.4-million shares, of the total of 168.19-million outstanding shares, as at last Thursday. The programme will run for 12... 

Mining mid-market enterprises lead gross value-added metric in Canada – HSBC

By: Henry Lazenby     Updated 2 hours 35 minutes ago Mid-market enterprises (MMEs) focused on mining is the leading contributor to gross value added (GVA) to Canada’s economy, a new report by international banking group HSBC has found. Published on Thursday, and authored by HSBC in conjunction with Oxford Economics, the ‘Entrepreneurial heartland... 

Codelco reports strong Q3 profit as lower costs offset falling grades

By: Henry Lazenby     Updated 4 hours ago The world’s largest copper producer, Chilean State-owned miner Codelco, has reported a strong third-quarter net profit of $1.6-billion, more than three times the value when compared with a loss for the same period a year earlier. Executive president Nelson Pizarro ascribed the strong performance... 

Codelco reports strong Q3 profit as lower costs offset falling grades
Photo by Codelco
Codelco executive president Nelson Pizarro

LSC to acquire Alqa Lihtium, add 2 595 ha in the Salar de Salinas Grandes

By: Henry Lazenby     Updated 6 hours ago Lithium exploration junior LSC Lithium has entered a binding contract to acquire all of the outstanding equity of Alqa Lithium, which owns a 100% stake in the Mina Teresa project that comprises 2 595 ha in the Salar de Salinas Grandes, in Jujuy province, Argentina. Under terms of the acquisition... 

Vale says Brazil iron royalty hike could hurt high-cost mines

By: Reuters     Updated 7 hours ago Brazil's Vale, the world's largest iron ore producer, said on Thursday that a hike in the country's royalty rates for the mineral could compromise its ability to maintain high-cost mines and would hurt its ability to compete. Congress passed the higher royalties in votes on Wednesday with the... 

Chile lithium miner SQM says legal dispute could linger through 2018

By: Reuters     Updated 7 hours ago Chilean lithium and fertiliser producer Sociedad Quimica Y Minera (SQM) said on Thursday its ongoing legal dispute with Chilean authorities over royalty payments may not be resolved until the end of 2018. Talks to resolve the arbitration between SQM and Chilean government development agency... 

Way paved for PTM's disposal of platinum mine to Royal Bafokeng

By: Creamer Media Reporter      23rd November 2017 TSX-listed Platinum Group Metals (PTM) on Thursday announced that the due diligence and the execution of binding legal agreements to sell Maseve Investment to Royal Bafokeng Platinum (RBPlat) had been concluded. The $74-million deal will see RBPlat pay Maseve an initial $58-million in cash to... 

Rainbow Rare Earths output on track, discovers new prospects

By: Natasha Odendaal     23rd November 2017 LSE-listed Rainbow Rare Earths is on schedule for first production and sales of rare-earth concentrate from its Gakara rare-earth project, in Burundi, in the fourth quarter of this year. The first shipment is scheduled for the end of this year under a distribution and offtake agreement with... 

South32 intent on resolving Appin, Cannington challenges

By: Mia Breytenbach     23rd November 2017 Having acknowledged challenges at its Australia operations, particularly at the Appin metallurgical coal mine in Illawarra, New South Wales, diversified miner South32’s focus remains on resolving operational challenges and improving operational efficiency. “We had an unacceptable year as we... 

South32 bullish on aluminium, manganese, energy coal prospects

By: Mia Breytenbach     23rd November 2017 With the price of various commodities having improved during the 2017 financial year, diversified miner South32 remains optimistic about the aluminium, manganese and energy coal sectors for the year ahead. “Manganese led the way [in terms of price increases], and metallurgical coal, energy coal,... 

South32 bullish on aluminium, manganese, energy coal prospects
Photo by Bloomberg
South32 CEO Graham Kerr

Edenville eyes efficiency rally at Rukwa on rising demand

By: Natasha Odendaal     23rd November 2017 Aim-listed Edenville Energy is reviewing options to further optimise the efficiency and throughput of its wash plant at the recently commissioned Rukwa coal project, in Tanzania, on expectations of greater demand beyond its planned output of 10 000 t/m. The company started producing washed coal... 

Tharisa reviews dividend policy on improved performance

By: Natasha Odendaal     23rd November 2017 Dual-listed Tharisa is mulling an increase in dividends for the year ended September 30, as well as a change in the dividend policy guiding yearly payouts to shareholders, after reporting expectations of significantly improved earnings for the 2017 financial year. This comes a year after the... 

Gem unearths 202 ct diamond

By: Megan van Wyngaardt     23rd November 2017 LSE-listed Gem Diamonds has recovered a high-quality 202 ct, D-colour Type IIa diamond from its Letšeng mine, in Lesotho. This is the seventh diamond of over 100 ct to be recovered from Letšeng this year. Letšeng is believed to be the highest dollar per carat kimberlite diamond mine in the world. 

Four zama zamas dead, 15 others arrested after shootout with police

By: News24Wire      23rd November 2017 Four illegal miners have been shot and killed during a shootout with police on an open field in Boksburg, Ekurhuleni, early on Thursday morning. Police said fifteen illegal miners, also known as zama zamas, were arrested. 

Resources Watch 

     23rd November 2017 This week: Afritin targets Africa tin champion title, Namibia project upscaled to commercial production And, South Africa crucial to global chrome supply, Chromium 2017 hears 

Resources Watch
Resources Watch

Sibanye creates gold tailings deal with DRDGold 

     23rd November 2017 Precious metals company Sibanye-Stillwater and gold tailings retreatment company DRDGold are coming together to create an industry-leading surface mining partnership. Mining Weekly editor Martin Creamer speaks with Creamer Media's Sashnee Moodley about the proposed deal. 

Sibanye creates gold tailings deal with DRDGold
Sibanye creates gold tailings deal with DRDGold

Lemur secures State anchor offtaker for Madagascar project

By: Natasha Odendaal     23rd November 2017 Aim-listed Bushveld Minerals’ coal and energy subsidiary Lemur has secured a power purchase agreement (PPA) with Madagascar State-owned utility Jiro sy Rano Malagasy (Jirama). Lemur is developing the Imaloto power project, an integrated thermal coal mining and independent power producer (IPP)... 

Coal India steps up logistics to ease short-term shortages

By: Ajoy K Das     23rd November 2017 Faced with dips in production growth and dwindling stocks to bank on, Coal India Limited (CIL) is hoping that a beefed up logistics and distribution solution will ease the clamour for dry fuel among various end-user industries. The miner reckons that increasing volumes transported by road and... 

Bass gears up for first production from Madagascar mine

By: Mariaan Webb     23rd November 2017 ASX-listed Bass Metals is nearing the completion of Stage 1 of the optimisation programme for its Graphmada large flake graphite mine, in Madagascar, and expects its first production next month. In an operational update, Bass CEO Tim McManus reported on Thursday that first production would come... 

Exploration supports expanded production at Nullagine

By: Creamer Media Reporter      23rd November 2017 Recent drilling at Millennium Minerals’ Nullagine gold project, in the Pilbara, has returned positive results and supports the company’s plans to deliver a “step-change” in the operation’s production. The ASX-listed company announced on Thursday that drilling had returned positive intercepts... 

MetalsTech cobalt spinout to list next year

By: Mariaan Webb     23rd November 2017 Lithium-focused MetalsTech on Thursday announced the potential spin-out of its cobalt business and said that its subsidiary had secured an option to buy a high-grade cobalt/silver mine in Ontario. MetalsTech, which is headquartered in Western Australia, but has projects in Quebec and Ontario,... 

Pilgangoora on track for commissioning next year

By: Mariaan Webb     23rd November 2017 In the year that has passed between the 2016 and 2017 annual general meetings (AGMs), the market capitalisation of lithium project developer Pilbara Minerals has more than doubled – a feat chairperson Tony Kiernan attributes to the quality of the Pilgangoora project, which is set to start... 

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver

By: Terence Creamer     23rd November 2017 Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between... 

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver
Photo by Duane Daws
Sasol joint CEOs Bongani Nqwababa and Stephen Cornell

Panoramic hopeful of return to producer status in near future

By: Mariaan Webb     23rd November 2017 The stronger nickel market and a weaker Australian dollar are working in Western Australian firm Panoramic Resources’ favour as it works towards a decision about restarting the Savannah nickel mine, in the East Kimberley. The Savannah mine has been on care and maintenance for a year-and-a-half,... 

NUM signs three-year wage agreement with coal producers

By: Reuters     23rd November 2017 The National Union of Mineworkers (NUM) has agreed a three-year wage agreement with coal producers, averting a sector-wide strike, the union said on Thursday. The union reached the agreement, which varies for each coal producer, after saying last month it would call a strike if wage demands were... 

Evolution’s Klein expresses concern as young Australians shun mining as career option

By: Mariaan Webb     23rd November 2017 The mining industry has to pull together to make it an attractive career option for young people if the industry is to sustain itself, Evolution Mining chairperson Jake Klein said on Thursday, expressing concern about the low number of mining engineering enrolments and graduates at two Australian... 

Evolution’s Klein expresses concern as young Australians shun mining as career option
Evolution chairperson Jake Klein

Santacruz restarts Veta Grande mill

By: Henry Lazenby     23rd November 2017 TSX-V-listed Santacruz Silver Mining has restarted operations at its Veta Grande mill, located in Zacatecas state, Mexico. The mill had been standing idle since November 3, when the Mexican Environmental Protection Agency halted operations until certain licencing documentation related to the... 

Northern Vertex files PEA on expanded Moss mine plan

By: Henry Lazenby     23rd November 2017 Canadian project developer Northern Vertex has filed a preliminary economic assessment (PEA) with securities regulators examining the merit of building an expanded operation at its 100%-owned Moss gold/silver mine, in Arizona. First published in October, the PEA sets out the technical and... 

Altiplano earns half of Comet JV; starts bulk sample

By: Henry Lazenby     23rd November 2017 Exploration junior Altiplano Minerals has earned a 50% stake in the Comet Joint Venture (CJV) with Comet Exploration, which is conducting exploration on the Farellon and Maria Luisa copper/gold development projects, in Chile. Headed by John Williamson, co-founder of Kaminak Gold, which discovered... 

Altiplano earns half of Comet JV; starts bulk sample
Photo by Altiplano Minerals
Farellon mineralisation, Chile

Mountain Province records higher revenues from 9th diamond tender

By: Henry Lazenby     23rd November 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones strengthen, despite a cautious market. The Toronto-headquartered company, which has a 49% stake in the Gahcho Kué mine, in... 

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