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Mining News

TSX dips as energy stocks retreat ahead of OPEC meeting

By: Reuters     Updated 7 hours ago Canada's main stock index edged lower on Monday as energy stocks retreated ahead of a meeting of oil producers later in the week, while mining stocks and financials also fell in a low-volume session with US markets closed for Memorial Day. The index has rallied 22% from an almost 3-1/2-year low... 

RNC’s Beta Hunt ramp-up ahead of schedule

By: Henry Lazenby     30th May 2016 Canadian gold producer Royal Nickel Corporation (RNC) is ahead of the ramp-up schedule for its Beta Hunt mine during May, hitting about 65% of the year-end mining rate target, which is ahead of the ramp-up schedule planned in the Beta Hunt preliminary economic assessment, the company reported on... 

Chile's copper output drops in April due to heavy rains

By: Reuters     30th May 2016 Copper output in world No 1 producer Chile fell in April as some mines in the central part of the country were hit by heavy rains and ore grades continued to decline, the government said on Monday. Chile, which produces one-third of the world's copper, is struggling with dwindling ore grades in... 

Mining ‘most transparent’ – Corruption Watch

By: Martin Creamer     30th May 2016 The Chamber of Mines of South Africa on Monday welcomed the Corruption Watch report on transparency in corporate reporting, which found that South Africa’s most transparent companies came from the mining sector. Gold Fields, BHP Billiton and Anglo American Platinum come out tops in the report,... 

Mining ‘most transparent’ – Corruption Watch
Chamber CEO Roger Baxter

Four killed in Botswana mining accident

By: Reuters     30th May 2016 Four mine workers were killed and six others critically injured in an accident at Botswana's State-owned BCL copper mine, the Minister of Energy and Minerals said on Monday. The ten employees were travelling underground in a mine shaft elevator on Sunday evening when the accident happened,... 

Suncor partially restarts Fort McMurray ops as Alberta wildfire grows to cover 579 946 ha

By: Henry Lazenby     30th May 2016 Even as the Alberta wildfires continued to rage out of control, oil sands major Suncor Energy over the weekend announced that it has started the safe and staged restart of in the Regional Municipality of Wood Buffalo (RMWB), with initial production from its Firebag in situ facility early last... 

Suncor partially restarts Fort McMurray ops as Alberta wildfire grows to cover 579 946 ha
Photo by Air Canada
About 300 South African firefighters have arrived in Edmonton to assist combating the Alberta wildfires

$60m boost to Zambia power grid

By: Martin Creamer     30th May 2016 Mining is poised to receive a spinoff benefit from Monday’s announcement that the power grid in Zambia is to be boosted by a $60-million investment. In this latest transaction, Standard Chartered bank has partnered with the United States Agency for International Development (USAID) to provide a... 

$60m boost to Zambia power grid
Zesco CEO Victor Mundende, Standard Chartered Bank Zambia CEO Andrew Okai and Zambia’s Deputy Energy Minister Charles Zulu

Droxford’s acquisition of Atlantic gains FIRB approval

By: Mariaan Webb     30th May 2016 The Foreign Investment Review Board (FIRB) has approved Singapore-based Droxford International’s acquisition of Australian junior Atlantic. The FIRB approval was one of the key conditions of the scheme of arrangement, which the companies announced last month. 

Venturex, Macarthur ink farm-in and JV agreement on Sulphur Springs

By: Samantha Herbst     30th May 2016 ASX-listed junior Venturex Resources has signed a memorandum of understanding (MoU) with TSX-V-listed lithium-focused explorer Macarthur Minerals to enter into a farm-in and joint-venture agreement (FJVA) for the lithium rights at Venturex’s 100%-owned Sulphur Springs copper-zinc project, in... 

Kin Mining raises $1.68m through share placement

By: Samantha Herbst     30th May 2016 Promoting its growth and development strategy for the advancement of its Leonora gold project, in Western Australia, ASX-listed junior Kin Mining on Monday completed an oversubscribed share placement to raise $1.68-million for the project. About 12-million shares would be issued by June 3 at 14c... 

Platfields continues settlement negotiations in liquidation case

     30th May 2016 Embattled precious metals exploration company Platfields remains in settlement negotiations with another party that had implemented liquidation proceedings against it. Platfields was advised in October last year that an order for its provisional liquidation was granted by the Gauteng High Court,... 

India faces iron-ore glut despite mine closures

By: Ajoy K Das     30th May 2016 India is facing an oversupply of iron-ore fines and lumps, despite half of the country’s iron-ore mines having been closed. Out of the country’s 518 iron-ore mines, 267 were not operational on May 1, information from the Mines Ministry showed. 

Panoramic considering IPO for Gum Creek

By: Mariaan Webb     30th May 2016 Western Australian mining company Panoramic Resources said on Monday that it had decided to run a dual initial public offering (IPO) and sales process for its Gum Creek gold project, near Wiluna, to unlock the project’s full value in the currently-buoyant gold sector. A March scoping study... 

AMCU says ending strike at Sibanye's Kroondal mine

By: Reuters     30th May 2016 Workers at South Africa's Sibanye platinum mine in Rustenburg will return to work this evening following a wildcat strike on Friday, the Association of Mineworkers and Construction Union (AMCU) said on Monday. After a mass meeting at the Rustenburg mine, AMCU general secretary Jeffrey Mphahlele... 

Heron enters farm-in agreement with Alchemy

By: Samantha Herbst     30th May 2016 Remaining focused on the development of its high-grade Woodland zinc-copper project in New South Wales (NSW), minerals developer Heron Resources has inked a farm-in agreement with fellow ASX-listed Alchemy Resources, covering a portfolio of Heron’s NSW exploration tenements. Under the headline... 

Mantle advances strategy to become Australia’s newest gold producer

By: Mariaan Webb     30th May 2016 ASX-listed junior Mantle Mining has developed a detailed plan to bring the historic Morning Star gold mine, in Victoria, into production, MD Ian Kraemer reported on Monday. The mine, which Mantle recently bought, was once the country’s most prolific gold producer and formed a key part of the... 

Botswana's economy to return to growth this year – central bank

By: Reuters     30th May 2016 Botswana's economy will return to growth this year after contracting in 2015 as water and electricity supply stabilise, the central bank said on Monday. Consumer prices in the southern African country will remain within the bank's target of between 3% and 6%, the Bank of Botswana's Kealeboga... 

Highfield signs first MoUs for Muga mine offtake

By: Samantha Herbst     30th May 2016 ASX-listed potash developer Highfield Resources has signed its first memorandums of understanding (MoUs) with three large European fertiliser companies for up to 320 000 t/y of K60 muriate of potash (MoP) in offtake from the company’s Muga mine, in Spain’s Navarra province. Highfield MD Anthony... 

Hawsons attracts international interest – Carpentaria

By: Mariaan Webb     30th May 2016 ASX-listed Carpentaria has signed a nonbinding letter of intent (LOI) with global commodities trading group Gunvor for the purchase of up to one-million tonnes a year from its flagship Hawson iron-ore project in New South Wales. The company said on Monday that the latest LOI meant that half of... 

Ansys records FY surge on Parsec acquisition

By: Natasha Odendaal     30th May 2016 JSE-listed Ansys on Monday reported across-the-board double-digit growth for the 12 months to February 29, bolstered by the nine-month inclusion of technology investment group Parsec, which it bought in 2015. Group headline earnings a share increased 11.5% from 4.44c in 2015 to 4.95c in the 2016... 

Fortescue earmarks $200m for Port Hedland tug services

By: Mariaan Webb     30th May 2016 Western Australian iron-ore producer Fortescue Metals would spend $200-million on developing tug facilities at Port Hedland, where it had secured a towage licence. Announcing the award of a licence to become the port's second towage operator, CEO Nev Power said Fortescue subsidiary Pilbara... 

Alcoa's spin-off plan sparks dispute with Australian partner Alumina

By: Reuters     30th May 2016 ustralia's Alumina has "serious concerns" about the impact of a demerger plan of US partner Alcoa on the pair's bauxite and alumina production joint venture, the Australian company said on Monday. Alumina said in a statement that it was concerned the plan would "result in a material adverse... 

Alcoa's spin-off plan sparks dispute with Australian partner Alumina
Alumina from the Alcoa Worldwide Alumina and Chemicals JV being loaded onto a ship for transport.

Galaxy and General Mining shares surge on merger deal

By: Mariaan Webb     30th May 2016 Lithium miners Galaxy Resources and General Mining on Monday announced they would merge, creating a diversified lithium company with assets in Australia, Argentina and Canada. The companies said in a joint announcement that the merger would be implemented by way of Galaxy acquiring General... 

New online floor plan launched for Electra Mining Africa 2016

     30th May 2016 For the first time, this year Creamer Media introduced an interactive floor plan and exhibitor listing for Electra Mining Africa 2016, taking pace from 12 to 16 September. The floor plan and exhibitor listing will be hosted on MiningWeekly.com.  

New online floor plan launched for Electra Mining Africa 2016

Australian gold output declines as producers cut grades

     30th May 2016 Although Australian gold output declined slightly in the first three months of 2016, the country’s gold sector is benefiting from higher prices, Melbourne mining consultants Surbiton Associates said in its latest quarterly gold survey, published on Sunday. Australian gold production totalled 71 t... 

Australian gold output declines as producers cut grades

Indonesia says coal output will fall next year

By: Reuters     30th May 2016 Indonesia expects its coal production to edge down in 2017, as smaller miners cut output due to lower prices for the commodity, a government official said on Monday. "It's natural selection. The small mines that are not efficient will not be strong and will die," Bambang Gatot, director-general... 

Despite negative fundamentals for US coal, some flickers of hope to be found

By: Henry Lazenby     28th May 2016 One would be hard-pressed to find optimism in today’s US coal industry, but even as the country’s exports fall and the fossil fuel’s importance in the energy mix diminishes, there are some flickers of hope for the industry, which seems to be facing ever-darkening fundamentals. Doyle Trading... 

Despite negative fundamentals for US coal, some flickers of hope to be found

Sibanye secures interdict against illegal strike at Kroondal ops

By: Henry Lazenby     27th May 2016 NYSE- and JSE-listed precious metals miner Sibanye Gold has been granted an interdict against a strike called at its Kroondal platinum operations, in South Africa, by the Association of Mineworkers and Construction Union (AMCU). The South African Labour Court on Friday declared any strike action... 

Commodity price indices rally as oil picks up where metals left off

By: Henry Lazenby     27th May 2016 Commodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-on-month in April as energy gains more than offset metals weakness. 

Commodity price indices rally as oil picks up where metals left off

Nautilus lifts Central Pacific underwater resource by 67%

By: Henry Lazenby     27th May 2016 Marine mining pioneer Nautilus Minerals this week reported an upgraded and improved mineral resource at its Clarion-Clipperton Fracture Zone (CCZ) project in the Central Pacific, which it held through its 100%-owned subsidiary Tonga Offshore Mining.  Toronto-based Nautilus advised on Thursday... 

Claim against Vedanta, KCM given the green light to proceed in court

By: Samantha Herbst     27th May 2016 A legal claim on behalf of 1 826 Zambian villagers against global diversified metals and mining company Vedanta Resources and its Zambian subsidiary Konkola Copper Mines (KCM) has been given the go-ahead by a High Court judge to proceed in the UK courts. The ruling, handed down on Friday, follows... 

Russia's Alrosa to hold US, UK investor meetings ahead of stake sale

By: Reuters     27th May 2016 Russian diamond miner Alrosa will hold investor meetings in the United States and the United Kingdom in June ahead of a stake sale, a Sberbank executive said on Friday. The Russian government aims to make more than 60-billion roubles ($909-million) from selling a 10.9% stake in Alrosa, with the... 

Canadian gold producer invests $11m in embattled Vantage Goldfields

By: Samantha Herbst     27th May 2016 Canadian gold producer AfroCan Resources Gold will invest $11-million over the next two months into South African gold miner Vantage Goldfields, effective June 1, following an agreement signed Friday, Vantage confirmed to Mining Weekly Online. The companies noted in a join statement that AfroCan,... 

Edenville establishes subsidiary to advance Rukwa power plant

By: Anine Kilian     27th May 2016 Aim-listed Edenville Energy has established a new company Edenville Power Tanzania to advance the power plant project that forms part of its Rukwa coal-to-power project. The 100% owned subsidiary company would be the principal vehicle to advance the power plant along its path to development,... 

Kroondal operations suspended amid AMCU strike

By: Anine Kilian     27th May 2016 Workers affiliated with the Association of Mineworkers and Construction Union (AMCU) have embarked on a strike at the Kroondal mine in Rustenburg, reportedly in protest over the appointment of a bus contractor. The Kroondal mine is owned by Sibanye Gold, which acquired the asset through its... 

India’s mining industry turning a corner

By: Ajoy K Das     27th May 2016 After several years of contraction, the Indian mining industry has turned the corner, marking a highlight of Prime Minister Narendra Modi’s two-years in office. According to official data, the mining industry notched an 8.2% growth during the first eleven months of the 2015/16 financial year,... 

Construction of Paringa’s Buck Creek No 2 mine due to start in 2017

By: Samantha Herbst     27th May 2016 With the permitting process now under way for Buck Creek No 2 mine, located in the Western Kentucky region of the Illinois basin, owner Paringa Resources expects construction of the mine to begin by the second quarter of 2017, with production due to get under way by mid-2018. “We are very pleased... 

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