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Mining News

Stabilising WTI price prompts oil sands companies to dust off deferred projects

By: Henry Lazenby     10th December 2016 A 17% rise in West Texas Intermediate pricing since the start of the year has prompted two Canadian oil sands companies to revive deferred projects. TSX- and NYSE-listed Cenovus Energy on Thursday announced that it will proceed in the first half of 2017 with the Phase G expansion of its Christina... 

Centerra suspends dividends as Kumtor cash flows dry up

By: Henry Lazenby     9th December 2016 The board of Canadian miner Centerra Gold has suspended its quarterly dividends considering reduced cash flows, as an order of the Bishkek interdistrict court prohibits its Kyrgystan subsidiary Kumtor Gold Company (KGC) to distribute cash from the cornerstone Kumtor mine. The TSX-listed company’s... 

Centerra suspends dividends as Kumtor cash flows dry up
Photo by Bloomberg
Centerra Gold's Kumtor mine, Kyrgyzstan

Vale gets 10yr operating licence for giant Brazilian iron-ore mine

By: Henry Lazenby     9th December 2016 Brazil-based iron-ore mining leader Vale has received a ten-year operating licence for its giant Carajás S11D project, the largest project in its history. Brazil’s federal environment agency Ibama said in a statement Friday that Vale had fulfilled 16 specific conditions to operate the... 

Petmin sees 2% sales increase, 3% production decline in Q3

By: Ilan Solomons     9th December 2016 Diversified miner Petmin on Friday reported that its production of metallurgical anthracite for the third quarter of the year decreased by 3% year-on-year to 342 536 t, from 352 179 t during the same period in 2015. However, sales volumes increased by 2% year-on-year to 363 982 t compared with... 

Petmin sees 2% sales increase, 3% production decline in Q3
Workers in discussion at Somkhele anthracite mine, KwaZulu-Natal

South Africa must wake up to fuel cell race or risk losing out 

By: Megan van Wyngaardt     9th December 2016 South Africa is in a global race in fuel cell development and should not consider itself “special”, as there are a number of other countries that could reap benefits from their fuel cell plans far sooner, an analyst warned on Friday. Speaking during a panel discussion on the impact of fuel cell... 

South Africa must wake up to fuel cell race or risk losing out
4th Energy Wave fuel cell analyst Kerry-Ann Adamson talks about South Africa in the race for fuel cell development. Cameraperson and editing: Nicholas Boyd 9/12/16

Stillwater deal runs deep

By: Martin Creamer     9th December 2016 The acquisition of America’s Stillwater Mining has the potential to put South Africa’s Sibanye on the inside track of low-cost mechanised primary mining as well as provide it with deep insight into secondary mining – the recycling of platinum-group metals (PGMs). Both these inputs will help... 

Stillwater deal runs deep
The US assets Sibanye is buying

Chinese firm hits Eastplats with civil claim

By: David Oliveira     9th December 2016 JOHANNESBURG (miningweekly.com) – China-based precious metals mining services provider Hebei Zhongheng Tianda Platinum (HZT) has filed a notice of civil claim against dual-listed Eastern Platinum (Eastplats) and several of its subsidiaries. The civil claim, filed in Canada’s British Columbia... 

Australian miners paid more than half of 2014/15 profits in tax

By: Esmarie Swanepoel     9th December 2016 The Australian minerals industry faced an effective tax rate of 54.3% in 2014/15 – the highest burden for nearly a decade, new research by advisory firm Deloitte Access Economics has shown. The Annual Tax Survey, commissioned by the Minerals Council of Australia (MCA), showed that more than half... 

QRC publishes research to quash ‘flawed’ TAI coal report

By: Esmarie Swanepoel     9th December 2016 The resources sector has countermanded think tank The Australian Institute’s (TAI’s) data on the importance of coal mining to the Queensland economy, saying the research is based on “unfounded assumptions” and that it “discounted critical economic impacts”. The TAI in September released a report... 

QRC publishes research to quash ‘flawed’ TAI coal report
Ian Macfarlane

Boost for Western Australia as Gorgon starts supplying first customers

By: Esmarie Swanepoel     9th December 2016 The $54-billion Gorgon liquefied natural gas (LNG) project, on Barrow Island off the coast of Western Australia, has started domestic gas supplies to the Western Australian market. US energy major Chevron on Friday reported that an initial 150 TJ/d of gas was being supplied to foundation... 

Boost for Western Australia as Gorgon starts supplying first customers

Tanlouka gets environmental permit

By: Esmarie Swanepoel     9th December 2016 ASX-listed West African Resources has been awarded an environmental permit for its Tanlouka gold project, in Burkina Faso. “The approval of the environmental and social impact assessment (ESIA) is a major achievement and brings us to the final stages of the permitting process for Tanlouka,” said... 

Iron Hill gets enviro nod

By: Esmarie Swanepoel     9th December 2016 The Western Australian Environment Minister has approved ASX-listed Mount Gibson’s Iron Hill project. “We welcome this important environmental approval of the Iron Hill mine, which takes us one step closer to commencing mine development in early 2017,” Mount Gibson CEO Jim Beyer said on Friday. 

Iron Hill gets enviro nod

Carrapateena drilling proves the point

By: Esmarie Swanepoel     9th December 2016 A 2016 drilling programme at the Carrapateena copper/gold project, in Western Australia, has increased Oz Minerals’ confidence in the project. The drilling programme resulted in an updated mineral resource estimate of 134-million tonnes, grading 1.5% copper, 0.6 g/t gold and 6.5 g/t silver, with... 

Waitsia FID due by end of 2017

By: Esmarie Swanepoel     9th December 2016 The joint venture (JV) partners in the Waitsia gas project, in Western Australia, are expected to make a final development decision on the Stage 2 development by the end of 2017. The Stage 2 development could supply 10% of Western Australia’s domestic gas demand, some 100 Tj/d, for a period of... 

Nagivator buys gold project

By: Esmarie Swanepoel     9th December 2016 Junior explorer Navigator has acquired the Violet gold project in the Kookynie goldfield, in Western Australia, for A$22 500 in cash. The project comprises a single prospecting license within the North Coolgardie mineral field, which historically produced more than 600 000 oz of gold from the... 

Implats selling chrome interest

     9th December 2016 Platinum mining company Impala Platinum (Implats) is disposing of its 65% interest in Impala Chrome, a chrome beneficiation operation that produces 200 000 t of chrome concentrate a year by processing four-million tonnes of tailings a year. As announced in a newspaper advertisement, Implats’... 

Peninsula raises cash for streamlined strategy

By: Esmarie Swanepoel     9th December 2016 Uranium producer Peninsula Energy has raised A$8.5-million through a share placement, and flagged a possible A$5-million raising through a share purchase plan (SPP), to fund its streamlined strategy for the Lance project, in the US. Peninsula told shareholders this week that 17-million ordinary... 

Sibanye to acquire US platinum miner for R30bn

By: Martin Creamer     9th December 2016 Precious metals mining company Sibanye Gold has entered into a definitive agreement to acquire all of the outstanding common stock of Stillwater Mining Company of the US for R30-billion ($2.2-billion). The $18-a-share offer represents a premium of 23% to Stillwater’s prior day closing share... 

Sibanye to acquire US platinum miner for R30bn
Photo by Duane Daws
Sibanye CEO Neal Froneman

Botswana diamond mine to retrench 450 workers

By: African News Agency      9th December 2016 At least 450 miners will be retrenched next week at Karowe Diamond miner following a decision by owners Lucara Diamonds to prematurely terminate a mining services contract with South African company Eqstra. The dispute between Lucara Diamond and Eqstra, which has been simmering for months, is... 

Desalination helps South32’s KZN aluminium smelter beat water woes

By: David Oliveira     9th December 2016 To ensure sustainable operations in drought-stricken Richards Bay, KwaZulu-Natal, diversified miner South32 has invested R74-million in a seawater desalination plant that uses membrane technology to produce cooling process water for its Hillside aluminium smelter. The diversified miner appointed... 

Desalination helps South32’s KZN aluminium smelter beat water woes

Lucara tops $1bn in sales since 2012 production start

By: Henry Lazenby     9th December 2016 Southern African diamond miner Lucara Diamond Corp has breached the $1-billion revenue mark for the first time since production at the Boteti Karowe mine, in Botswana, started in June 2012. "Achieving sales of $1-billion is a significant milestone for the company and is a recognition of our... 

Lucara tops $1bn in sales since 2012 production start

Dalradian development stope produces 35% more gold than foreseen in resource model

By: Henry Lazenby     9th December 2016 TSX- and Aim-listed Dalradian Resources has produced 35% more gold from the third test stope at its Curraghinalt gold project in Northern Ireland, than predicted in the June resource estimate. Toronto-based Dalradian explained that the third stope is located on the V-75 vein, complementing two... 

Manitok hits new production record

By: Henry Lazenby     9th December 2016 TSX-V-listed Manitok Energy has reached a new production record of 7 100 barrels of oil equivalent a day (boe/d), based on field estimates, surpassing the previous record of 6 500 boe/d achieved in October. Calgary-based Manitok, which focuses on Lithic Glauc (LG) oil reservoirs in south-east... 

Mining Weekly iPhone and Android Apps available for free download 

     9th December 2016 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

MGX inks lithium brine accord with Sturgeon Lake oil & gas operator

By: Henry Lazenby     8th December 2016 Western Canada-focused project developer MGX Minerals has acquired rights to sample and analyse brine waters emitted from the Sturgeon Lake oilfield, in north-western Alberta for metallic mineralisation, the company reported Thursday. Under the agreement, MGX will be able to undertake water... 

Local mining industry still in doldrums – economists

By: Megan van Wyngaardt     8th December 2016 South African mining production growth slipped back into negative territory in October, falling 2.9% year-on-year after growing by an upwardly revised 4.7%. This, BNP Paribas Securities economist Jeffrey Schultz explained in a note released Thursday, was evidence that mining activity continued to... 

Local mining industry still in doldrums – economists
Chamber of Mines chief economist Henk Langenhoven

Glencore shares rise as Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Glencore shares rise as Rosneft deal wins analyst thumbs-up
Photo by Reuters
Russia's president Vladimir Putin with Rosneft CEO Igor Sechin

Armadale declares maiden resource estimate at Tanzania graphite project

By: Megan van Wyngaardt     8th December 2016 Aim-listed Armadale has declared a maiden Joint Ore Reserves Committee-compliant inferred mineral resource estimate of 40.9-million tonnes – graded at 9.41% total graphitic content (TGC) – for its 100%-owned Mahenge Liandu graphite project, in Tanzania. At least 32-million tonnes of this resource... 

Sula historic drill core offers encouraging results for Sierra Leone project

By: Megan van Wyngaardt     8th December 2016 Additional samples taken from an historic drill core at Aim-listed Sula’s Ferensola gold project, in Sierra Leone, have yielded further positive results, with one oxide sample returning an assay of 28.9 g/t gold. In early November 2016, samples were collected from an historic drill core remaining... 

Iron-ore export duty takes centre stage ahead of India’s national Budget

By: Ajoy K Das     8th December 2016 The iron-ore export duty has moved back to the centre stage in India, with iron-ore miners calling on government to announce a lower export tax when the national Budget is unveiled on February 1. In response to the federal Finance Ministry’s invitation for input from all sectors, iron-ore miners... 

Glencore on nickel and zinc developments  

     8th December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising, on the other hand, the company is producing zinc at negative cost. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Glencore on nickel and zinc developments
Glencore on nickel and zinc developments

Coordinated planning approach ‘imperative’ to Australia’s energy future - AEMO

By: Esmarie Swanepoel     8th December 2016 The Australian Energy Market Operator (AEMO) has again highlighted the need for urgent policy reform to secure the nation’s energy future. In its latest National Gas Forecasting Report (NGFR), the AEMO warned of uncertainties and challenges, which will complicate gas demand forecasts for eastern... 

Work starts on Exploring for the Future programme

By: Esmarie Swanepoel     8th December 2016 The Association of Mining and Exploration Companies (AMEC) has welcomed the federal government’s implementation of the A$100-million Exploring for the Future programme, which seeks to boost the productivity and competitiveness of the minerals sector. Resources and Northern Australia Minister... 

Work starts on Exploring for the Future programme

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

By: Esmarie Swanepoel     8th December 2016 Oil and gas major Santos has revealed plans to spin off its noncore assets into a standalone low-cost business as it targets a $1.5-billion debt reduction by the end of 2019. The assets to be spun out include those in Indonesia, Vietnam, Malaysia and Bangladesh, as well as in the Narrabri and... 

Santos unveils plan to rid itself of noncore assets, slash debt by $1.5bn

Continued gas development needed to keep WA market well supplied

By: Esmarie Swanepoel     8th December 2016 Western Australia’s domestic gas market is expected to be well supplied over the next ten years, if gas reserves continue to be developed. “Growth in domestic gas demand is forecast to be a marginal 0.1% over the outlook period, as there are only a handful of large gas consumers that are expected... 

Kingsgate reduces debt ahead of Chatree stop

By: Esmarie Swanepoel     8th December 2016 ASX-listed gold miner Kingsgate Consolidated expects to reduce its total debt position to about A$13-million by the end of the month. The miner said on Thursday that a discretionary payment of $5.2-million had been made against the Chatree loan facility, and a further discretionary payment of... 

Mt Morgan to cost A$85m

By: Esmarie Swanepoel     8th December 2016 The Mount Morgan gold/copper project, in Queensland, will require a capital investment of A$85-million, ASX-listed Carbine Resources has reported. The company on Thursday revealed the results of a feasibility study into the Mt Morgan project. Based on a 1.1-million-tonne throughput rate, the... 

Mt Morgan to cost A$85m
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