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Mining News

Qld govt increases support for mining equipment, services sector

By: Esmarie Swanepoel     Updated 34 minutes ago The Queensland government has announced plans for a new accelerated programme to benefit the state’s A$21-billion mining equipment, technology and services (Mets) sector. Minister for State Development Dr Anthony Lynham on Thursday said applications would soon open for the new accelerator... 

Carmichael to proceed despite new greens lobby – MCA

By: Esmarie Swanepoel     Updated 51 minutes ago The Minerals Council of Australia (MCA) has labeled the latest environmental resistance against the $16.5-billion Carmichael coal project, in Queensland, as “futile and cynical attention seeking”. The MCA was responding to an announcement by former Greens party leader Bob Brown, in which he said... 

Qld steps up support in battle against black lung

By: Esmarie Swanepoel     Updated 55 minutes ago Queensland coal miners have been promised additional support from the state government, to battle the ongoing coal workers pneumoconiosis (CWP), or black lung, epidemic. Industrial Relations Minister Grace Grace on Thursday said that since the reemergence of black lung, the Queensland state... 

Qld steps up support in battle against black lung

Lake Wells proves economic – Australian Potash

By: Esmarie Swanepoel     Updated 1 hour 9 minutes ago A scoping study into the Lake Wells potash project, in Western Australia, has confirmed project economics, owner Australian Potash said. The scoping study considered the development of a two-staged operation, with Stage 1 producing some 150 000 t/y sulphate of potash (SoP). Stage 2 will see... 

Harmony’s Kusasalethu workers embark on illegal strike action

By: Natasha Odendaal     Updated 1 hour 11 minutes ago No employees reported for their day shifts at Harmony Gold’s Kusasalethu mine, near Carletonville, on Thursday, with the gold miner saying this is in retaliation for the suspension of Association of Mineworkers and Construction Union (AMCU) branch leadership who had encouraged an earlier go-slow... 

Harmony’s Kusasalethu workers embark on illegal strike action
Harmony CEO Peter Steenkamp

Black Mountain sells into Southern Africa

By: Esmarie Swanepoel     Updated 1 hour 35 minutes ago Junior vermiculite miner Black Mountain Resources has completed its first sale to a new customer in Southern Africa. “This first sale is a pleasing development for Black Mountain,” said chairperson and CEO Julian Ford, adding that it demonstrated that there was a demand for the company’s... 

Ram raises funds for Irish exploration

By: Esmarie Swanepoel     Updated 1 hour 36 minutes ago ASX-listed junior Ram Resources is hoping to raise A$3.5-million through a share placement to advance its Keel zinc project, in Ireland. The company on Thursday said it would issue some 70-million shares, at a price of 5c each, to sophisticated and institutional investors. 

Alara gets offtake partner for Oman project

By: Esmarie Swanepoel     Updated 1 hour 39 minutes ago Metals miner Alara Resources has signed an offtake agreement for the supply of some 35 000 t of copper concentrate from its Al Hadeetha project, in Oman. The company said on Thursday that, under the terms of the agreement, the concentrate will be shipped at regular intervals from the Sohar port,... 

Minerals railway in Peru to take 2-3 wks to resume – govt

By: Reuters     Updated 7 hours ago A railway used by copper, zinc and silver mines to transport their concentrates from Peru's central Andes to port will not likely be operative for at least two to three weeks following "important" damages from floods and mudslides, the transportation minister said on Wednesday. Martin Vizcarra... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

By: Henry Lazenby     Updated 7 hours ago Canadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increased in gold-equivalent ounces... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

Colombia to produce 95Mt of coal in 2017 – vice-minister

By: Reuters     Updated 7 hours ago Colombia could produce at least 95-million tonnes of coal in 2017, below an initial target of 102-million tonnes, the mining vice-minister said on Wednesday. The Andean country is the world's fifth-largest producer of the fuel and recorded an output of 90.9 -million tonnes last year, the highest... 

Côte d'Ivoire govt agrees to sell 25% Ity stake to owner-operator Endeavour

By: Henry Lazenby     Updated 7 hours ago Côte d'Ivoire State-owned mining company Sodemi has agreed to sell its 25% stake in the Ity gold mine back to Canadian gold miner Endeavour Mining. President Alassane Ouattara approved the State miner’s sale of ownership in the mine in a Cabinet meeting on Wednesday morning. Following the... 

No talks planned to end 5-1/2-week Quebec zinc plant strike – union

By: Reuters     22nd March 2017 No meetings are planned between management and striking workers at Noranda Income Fund's zinc refinery in Quebec, the second biggest in North America, a union official said on Wednesday, as the work stoppage dragged through a sixth week. The two sides last met, along with a mediator, on March 3... 

Russia's Alrosa expects 6% fall in first-quarter diamond sales

By: Reuters     22nd March 2017 Russian diamond miner Alrosa expects its first-quarter sales to be down 6% at $1.25-billion compared with a year ago, the state-controlled company said in a presentation for its investor day on Wednesday. Alrosa, the world's largest producer of rough diamonds, plans to increase diamond output to... 

RNC, private equity firm Waterton Global form nickel-focused partnership

By: Henry Lazenby     22nd March 2017 Canadian miner Royal Nickel Corp (RNC) has joined forces with private equity firm Waterton Global Resource Management (WGRM) to buy, develop and operate nickel assets. The companies on Wednesday announced that they had inked a joint venture (JV) accord that will result in Waterton buying a 50%... 

RNC, private equity firm Waterton Global form nickel-focused partnership

Kenmare swings to FY profit on the back of record production

By: Anine Kilian     22nd March 2017 London-listed Kenmare Resources recorded earnings before interest, taxes, depreciation and amortisation (Ebitda) of $5.2-million for the year ended December 31, a turnaround from the loss of $11.5-million recorded in the prior financial year. Heavy minerals concentrate production increased 28%... 

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria

By: Ilan Solomons     22nd March 2017 Dual-listed Harmony Gold is aiming to increase its yearly gold production from the current 1.1-million to 1.5-million ounces over the next three years. This would be achieved by undertaking expansions at its operations in South Africa, the rest of Africa and Papua New Guinea, while also... 

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria
Golpu gold project, in Papua New Guinea

Vast takes full ownership of Romania mine

By: Megan van Wyngaardt     22nd March 2017 Aim-listed miner Vast Resources now owns 100% of the Manaila polymetallic mine, in Romania, following the completion of the acquisition of the remaining 49.9% of Sinarom Mining Group from vendor Ni Jin Ming. This follows the settlement of $1.14-million in debts associated with the company's... 

EIUG supports Eskom plan for new pricing deals with power-intensive firms 

By: Terence Creamer     22nd March 2017 The Energy Intensive User Group of Southern Africa (EIUG) believes there is policy, legislative and regulatory space to introduce new electricity pricing arrangements to help restart of idle mining and process-industry activities, as well as encourage new investments to absorb Eskom’s surplus,... 

EIUG supports Eskom plan for new pricing deals with power-intensive firms

Tertiary finalises sale of Finnish gold assets

By: Anine Kilian     22nd March 2017 Aim-listed Tertiary Minerals has completed the sale of its noncore gold assets in Finland to Canadian precious metals miner Aurion Resources for £100 000 in cash and shares. The assets include Kaaresselkä and Kiekerömaa and Tertiary will retain a royalty interest in these two projects. 

Alecto prepares for first blast at Mowana project

By: Natasha Odendaal     22nd March 2017 Alecto Minerals is “moving at speed” towards delivering continuous production and first sales from the Mowana copper project, in Botswana, with the first blast expected to take place within days. With appointed drill and blast contractor Capital Drilling mobilising its equipment to site, an... 

Rainbow progresses Burundi rare earths project

By: Natasha Odendaal     22nd March 2017 Rare earth elements mining company Rainbow Rare Earths has started work on the now fully permitted Gakara rare earths project, in Burundi, ahead of trial mining. Following its $8-million fundraising and successful initial public offering (IPO) on the LSE in January, preparation for mining at... 

ICMM guide to ensure greater consistency in water use disclosure

By: Anine Kilian     22nd March 2017 The International Council on Mining and Metals (ICMM) has published a water reporting guide to help mining companies disclose their water use data in a consistent manner to allow for easier comparison. ‘A practical guide to consistent water reporting’, which was released on World Water Day,... 

ICMM guide to ensure greater consistency in water use disclosure
ICMM president and CEO Tom Butler

Australia's Pilbara Ports closes Dampier due to weather

By: Reuters     22nd March 2017 Pilbara Ports Authority, which operates Australia's largest iron ore export terminal, on Wednesday said it had closed its Dampier port due to bad weather, but the main port of Hedland remained open. The authority said it had activated a cyclone response procedure due to a weak tropical low... 

Mitsubishi says it may sell stakes in Australia thermal coal mines

By: Reuters     22nd March 2017 Japanese trading company Mitsubishi Corp may sell stakes in Australia thermal coal mines as it presses on with a switch to core assets such as coking coal after slumping to its first-ever annual loss last year, a spokesman said on Wednesday. The Nikkei business daily reported earlier on... 

Master Drilling boasts strong order book 

By: Megan van Wyngaardt     22nd March 2017 The launch of new projects in the Democratic Republic of Congo, Sierra Leone and Tanzania, paired with increased investment in human resources, has resulted in a 12.1% drop in JSE-listed Master Drilling’s gross profit to $23.5-million for the 2016 financial year. However, the company noted that... 

Master Drilling boasts strong order book
Master Drilling CEO Danie Pretorius speaks on the company's prospects. Video and editing: Nicholas Boyd. 22/03/2017

S&P affirms Eskom rating on ‘extremely high’ likelihood of govt support as liquidity weakens

By: Terence Creamer     22nd March 2017 S&P Global Ratings has sustained a negative outlook on Eskom after affirming its 'BB-' sub-investment-grade rating this week, pointing to the State-owned electricity utility’s weakening liquidity position as a result of a “lower-than-expected” tariff increase for 2017/18. On February 23, the... 

S&P affirms Eskom rating on ‘extremely high’ likelihood of govt support as liquidity weakens

BHP buys back $2.5bn in bonds

By: Esmarie Swanepoel     22nd March 2017 Mining major BHP Billiton has repurchased $2.5-billion worth of bonds, allowing the miner to extend its average debt maturity profile and enhancing its capital structure. BHP this week announced the expiration of its tender offers for its $1.25-billion, 3.25% senior notes due in 2021, its... 

BHP buys back $2.5bn in bonds

Metro hits fundraising targets

By: Esmarie Swanepoel     22nd March 2017 Bauxite developer Metro Mining has raised its targeted A$36.5-million through an entitlement offer, priced at 12.5c a share. The entitlement offer formed part of a larger A$52-million capital raise to fund the development of the Bauxite Hills mine, in Queensland. 

Cassini hopes to cash in on cobalt highs

By: Esmarie Swanepoel     22nd March 2017 Junior Cassini Resources has told shareholders that an updated scoping study on its West Musgrave joint venture (JV), in Western Australia, will take the rising cobalt prices into consideration. Responding to shareholder queries, Cassini on Wednesday said the company had initiated a review of the... 

Pharmanet's transformation starts

By: Esmarie Swanepoel     22nd March 2017 ASX-listed Pharmanet Group has started its evolution into Calidus Resources with the acquisition of unlisted Keras Gold Australia, in exchange for 225-million shares and 525-million performance shares. Keras Australia holds the Warrawoona gold project, in the Pilbara goldfields, which has a 410... 

Gascoyne completes capital raise

By: Esmarie Swanepoel     22nd March 2017 Gold developer Gascoyne Resources has successfully raised A$55-million to fund the development of its Western Australian gold project. The capital raise was launched in February and was completed over two tranches. 

Davyhurst crushing circuit commissioning to start shortly

By: Esmarie Swanepoel     22nd March 2017 Commissioning of the newly refurbished crushing circuit at the Davyhurst mill, in Western Australia, is poised to start next week, with the balance of the circuits expected to be commissioned in April, owner Eastern Goldfields said. The refurbishment of the 1.2-million-tonne-a-year mill is some... 

Intermin increases Teal resource

By: Esmarie Swanepoel     22nd March 2017 Gold developer Intermin Resources has reported a 120% increase in its mineral resource estimate at the Teal project, in Western Australia. The gold project’s mineral resource now stands at 2.27-million tonnes, at 2.18 g/t gold for 159 389 oz of gold, with the total mineral resource growing to... 

Pioneer reports caesium resource at Dome

By: Esmarie Swanepoel     22nd March 2017 The Sinclair caesium zone, within the Dome lithium-caesium-tantalum project, in Western Australia, has been estimated to host some 10 500 t of caesium ore with a grade of 17.1% caesium oxide. Owner Pioneer Resources has told shareholders that the mineral resource was defined following 22 reverse... 

India, Iran gas deal not expected before third quarter

By: Ajoy K Das     22nd March 2017 Any definitive agreement between India and Iran on the development of the Farzad B offshore gasfields, in the Persian Gulf, seems unlikely before the third quarter of this year. Despite India’s ONGC Videsh having submitted a curtailed $3-billion development plan to the Iranian national oil... 

Silver Wheaton board recommends name change as it rakes in record precious metals revenues

By: Henry Lazenby     22nd March 2017 The pioneer of the metals streaming mine financing model Silver Wheaton has proposed a name change to Wheaton Precious Metals, to better reflect the fact that an increasing proportion of its revenue is derived from gold. The Vancouver-based company on Tuesday said that, since 2013, it had seen a... 

Silver Wheaton board recommends name change as it rakes in record precious metals revenues
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