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Jul 28, 2014
Black-controlled mining company Exxaro is to acquire the South African coal mines of French petroleum giant Total to create 100% black-owned coal assets. The JSE-listed Exxaro, headed by CEO Sipho Nkosi, has entered into a binding sale and purchase agreement with...
Jul 28, 2014
The mining and metals industry has identified productivity as the top business risk facing the industry globally, advisory firm EY has found in its latest business risks report. EY global mining and metals leader Mike Elliott said on Monday that the decade-long...
Jul 28, 2014
LSE-listed Petra Diamonds increased its production for the 2014 financial year by 17% to 3.11-million carats – above market guidance of 3-million carats. The increase in production was mostly owing to production increases at its Finsch mine, in the Northern Cape,...
Jul 28, 2014
JSE-listed Northam Platinum’s Zondereinde mine No 1 shaft would be out of commission for up to six weeks, following an incident that occurred during routine maintenance work. The company explained that the incident occurred on Sunday, when a counterweight in one of...
Jul 28, 2014
Democratic Republic of Congo's President Joseph Kabila has fired the chief executive of the country's State mining company Gecamines for "gross negligence", according to a presidential decree read out on the state television channel. Government officials declined to...
Jul 28, 2014
A steady improvement in performance is expected at gold miner Randgold Resources’ Tongon mine, in Côte d'Ivoire, during the second half of the year, as the operation continues to make headway in its drive to overcome technical issues, Randgold CEO Mark Bristow has...
Jul 28, 2014
JSE-listed Merafe Resources on Monday said it expected its headline earnings per share (HEPS) for the six months ended June 30 to be between 126% and 142% higher year-on-year. This increase, which would bring the company’s half-year HEPS to between 8.6c and 9.2c,...
Jul 28, 2014
Construction, mining, development and engineering group Basil Read on Monday announced the appointment of Neville Nicolau as CEO and executive director of the company as from September 1. Nicolau, a former CEO of Anglo American Platinum and a former COO and executive...
Jul 28, 2014
Jul 28, 2014
Article contains comments
Jul 28, 2014
Jul 28, 2014
 
 
 
Jul 28, 2014
Africa-focused project developer Ivanhoe Mines last week said it had started construction on the box cut for the initial portal to planned decline ramps that will provide underground access to the proposed Kamoa copper mine, in the Democratic Republic of Congo's...
Jul 28, 2014
This four-page brief covers key developments in the coal industry over the past 12 months, including details of demand and logistics, as well as prospects for the sector.
Jul 29, 2014
Updated 1 hour 32 minutes ago A faster-than-expected increase in iron-ore production by the world's biggest miners in Australia and Brazil this year is pushing less efficient smaller suppliers of the steel-making raw material to the edge. From Europe to Australia to the Middle East, smaller...
Jul 29, 2014
Updated 1 hour 35 minutes ago Project developer Romarco Minerals on Monday said that following the Thursday posting of the final environmental impact statement for the Haile gold project, in South Carolina, on the US Army Corps of Engineers website, the Corps had now informed the company that it...
Jul 28, 2014
Updated 2 hours 11 minutes ago TORONTO (miningweekly.com) – ASX- and TSX-listed uranium producer Paladin Energy on Monday reported strong full-year 2014 and fourth-quarter output, meeting its guidance. Paladin, which produces yellow cake from operations in Africa, reported combined output of...
Jul 28, 2014
Updated 7 hours ago TORONTO (miningweekly.com) – ASX- and TSX-listed Gold producer Troy Resources on Monday reported positive results from an updated prefeasibility study considering only an openpit mining scenario for its Smarts and Hicks Deposits at its 100%-owned Karouni project,...
Jul 28, 2014
BHP Billiton plans to run a three-year trial of a potentially cheaper way of processing copper and uranium from its massive Olympic Dam mine in Australia from late 2016, it said on Monday. The proposal is BHP's first indication of expansion plans for Olympic Dam...
Jul 28, 2014
Gold miner Silver Lake Resources would acquire the outstanding 15% in the Mount Monger joint venture (JV) from partner Newcrest Operations for A$1.57-million. The Mount Monger JV, in Western Australia, included the Majestic and Imperial projects, which jointly host...
Jul 28, 2014
Copper developer Avanco Resources has executed a $12-million non-dilutive production royalty investment with BlackRock World Mining Trust, over the Antas mine in Brazil. Avanco told shareholders on Monday that a due diligence had been completed, and financing and tax...
Jul 28, 2014
ASX-listed Liquefied Natural Gas (LNG) would spend $11-million to acquire the Bear Head LNG project, in Canada, from a subsidiary of Anadarko Petroleum Corporation. The Bear Head project includes 225 acres comprising industrial-zoned land and deep-water acreage as...
 
 
 
 
Jul 28, 2014
ASX-listed Independence Group has reported an increase in gold, zinc and copper production during the three months to June, as the Tropicana gold project continued to ramp up and its Jaguar operation increased grades. Independence on Monday reported that gold...
Jul 28, 2014
Iron-ore miner BC Iron has reported record full-year production at its Nullagine joint venture (JV) operation, in Western Australia, during the year ended June. The miner said on Monday that a 10% increase in ore mined during the three months to June, which reached...
Jul 28, 2014
Metals miner MacPhersons Resources on Monday announced that it would raise up to A$10.4-million in a share placement to fund the bankable feasibility study (BFS) of its Nimbus silver-gold-zinc project, in Western Australia. The ASX-listed miner said that a share...
Jul 28, 2014
Federal Environment Minister Greg Hunt has approved the A$16.5-billion Carmichael coal mine and rail project, in Queensland. India’s Adani Mining would develop an opencut and underground mine, which is expected to produce about 60-million tonnes a year of thermal...
Jul 28, 2014
ASX-listed miner Orinoco Gold and Cleveland Mining have teamed up to fast-track the development of Orinoco’s Cascavel gold project, in Brazil. Under the terms of the agreement, Cleveland would assist Orinoco in mining, extracting, processing and selling gold ore...
Jul 28, 2014
India’s Coal Ministry has set a captive coal production target of 68-million tonnes during 2014/15 from all blocks allocated to various companies for own fuel use. According to a Coal Ministry circular, “the production target has been set and all allocated coal...
Jul 25, 2014
Freeport-McMoRan clinched a deal with the Indonesian government on Friday allowing the miner to resume copper concentrate exports from the country, effectively ending a six-month tax dispute and paving the way for more miners to follow suit. Freeport, which is...
Jul 25, 2014
The US Department of Commerce on Friday confirmed final import duties on ferrosilicon from Venezuela and found no dumping of products from Russia, upholding an earlier decision. Final dumping margins on ferrosilicon, used as an alloying agent in the production of...
Jul 25, 2014
Canadian drilling equipment and services provider Major Drilling this week announced its entry into the underground percussive/long-hole drilling sector with an agreement to buy Taurus Drilling Services for C$27.7-million. The Moncton, New Brunswick-based driller on...
Jul 25, 2014
The TSX-V-listed stock of junior exploration firm NioGold Mining on Friday soared by as much as two-thirds after announcing a C$4.9-million private-placement financing with Osisko Gold Royalties. Vancouver-based NioGold said Osisko would buy 14-million flow-through...
 
 
 
 
Jul 25, 2014
Gold producer Veris Gold was this week granted provisional relief under Section 1519 of the US Bankruptcy Code. As of  Wednesday, the ruling recognised the Canadian proceeding of the Companies' Creditors Arrangement Act (CCAA) and, as a result, protected Veris...
Jul 25, 2014
TSX-listed Fortune Minerals this week reported attractive financial indicators resulting from a preliminary economic assessment (PEA) undertaken on its recently acquired Revenue silver mine, in south-west Colorado. The London, Ontario-based company on Thursday...
Jul 25, 2014
Miners will need to radically transform their business models if they wanted to reverse the decade-long decline in productivity, a new report by professional services firm EY has found. ‘Productivity in mining: A case for broad transformation’ described the...
Jul 25, 2014
Two employees of platinum miner Royal Bafokeng Platinum’s (RBPlat’s) Styldrift mine, in the North West, have been injured as a result of an acetylene gas cylinder explosion at the mine on Friday morning. RBPlat spokesperson Lindiwe Montshiwagae told Mining Weekly...
Jul 25, 2014
Gold producer AngloGold Ashanti’s closure of its Yatela mine, in Mali, and the ongoing restructuring at its Obuasi mine, in Ghana, would likely drag down earnings for the second quarter. AngloGold embarked on the implementation of a range of interventions to deal...
Jul 25, 2014
Gold miner DRDGold on Friday announced that its 74%-owned subsidiary Ergo Mining Operations would sell the underground mining and prospecting rights held by East Rand Proprietary Mines (ERPM), as well as certain other assets on relating mining areas, to ERPM South...
Jul 25, 2014
Canadian fertiliser producer Potash Corp of Saskatchewan (PotashCorp) this week reported a near 27% drop in second-quarter profit at $472-million, or $0.56 a share, as lower potash prices dragged revenue down. However, the results for the period ended June 30 beat...
Jul 25, 2014
Rand Refinery has secured a “precautionary” R1.2-billion irrevocable, subordinated loan facility from its shareholders. The gold refiner on Friday revealed that this had followed implementation difficulties after it, last year, adopted a new enterprise resource...
Jul 25, 2014
Article contains comments
The introduction of a strike ballot process as suggested by Deputy President Cyril Ramaphosa would be a great step forward for industrial relations in South Africa, Anglo American CEO Mark Cutifani said on Friday. Cutifani was responding to a question Rothschild...
Jul 25, 2014
Gold miner Sibanye Gold on Friday said its earnings per share (EPS) for the six months ended June 30, were expected to be between 65c and 75c, while headline earnings per share (HEPS) was expected to be between 75c and 85c, based on an estimated 772.7-million...
 
 
 
 
Jul 25, 2014
London-listed gold producer African Barrick Gold (ABG) reported a net profit of $41-million for the six months ended June 30, driven by increased production and continued cost discipline. ABG CEO Brad Gordon pointed out that the company had now achieved its seventh...
Jul 25, 2014
The company operating the gold price 'fix' has appointed a supervisory committee to oversee the century-old system of benchmarking gold prices ahead of the implementation of stricter regulations, its website showed on Friday. The London Gold Market Fixing Ltd's new...
Jul 25, 2014
Article contains comments
Eskom’s appointment of former mining executive Mike Rossouw on a one-year, extendable assignment appears to be closely associated with Public Enterprises Minister Lynne Brown’s appeal for “extraordinary” steps to be taken to deal with the “unsatisfactory”...
Jul 25, 2014
Platinum miner Lonmin, which is currently producing at 30% of normal monthly capacity following the end of the five-month-long strike by members of the Association of Mineworkers and Construction Union (AMCU), expects to increase output to 80% of normal capacity by...
Jul 25, 2014
Diversified mining major Anglo American has reached a binding agreement for the £885-million sale of its 50% interest in the Lafarge Tarmac joint venture (JV) to cement producer Lafarge. Lafarge Tarmac, formed in January 2013, is a 50:50 JV between Lafarge and Anglo...
 
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