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Mining News

India’s Steel Ministry mulls capacity utilisation floor for iron-ore mines

By: Ajoy K Das     Updated 11 minutes ago Failing to muster support even within the government to cap the domestic price of iron-ore, India’s Steel Ministry is now mulling a proposal to set minimum capacity utilisation benchmarks for iron-ore mines across the country. Sources in the government say the Steel Ministry aims to focus on the... 

Mustang on track to sell 200 000 ct of rubies in October

By: Megan van Wyngaardt     Updated 21 minutes ago ASX-listed Mustang Resources’ ruby inventory has grown to 120 397 ct, paving the way for the company to meet its 200 000 ct target in time for its first closed bid tender, in October this year. The growing inventory reflects in part the successful commissioning of the upgraded processing plant at... 

India should revisit lofty coal output targets as demand weak – policy panel

By: Reuters     Updated 45 minutes ago India should rein in its lofty coal output target as power demand is growing at a slower pace than expected, a government policy think-tank said, even as state monopoly Coal India Ltd (CIL) struggles to sell already-mined coal. A turnaround in India's coal sector, from crippling shortages three... 

CME finds EPA decision on two new iron-ore mines disappointing

By: Megan van Wyngaardt     Updated 1 hour 56 minutes ago The Western Australian Environmental Protection Authority’s (EPA’s) recommendation against approval of two mid-west banded iron formation (BIF) mines is a disappointing decision, Western Australia Chamber of Minerals and Energy (CME) natural resources manager Kane Moyle said on Wednesday. The EPA... 

PTM seeks to raise $20m in working capital

By: Megan van Wyngaardt     Updated 2 hours 28 minutes ago Dual-listed Platinum Group Metals (PTM) has entered into purchase agreements with institutional investors to issue and sell $20-million aggregate principal amount of convertible senior subordinated notes due 2022. PTM will use the proceeds for working capital at its flagship Maseve mine, near... 

Tawana earns 50% interest in Bald Hill lithium rights

By: Megan van Wyngaardt     Updated 2 hours 31 minutes ago Western Australia-focused miner Tawana Resources’ subsidiary Lithco has spent the required $7.5-million to earn a 50% interest in all lithium rights at the Bald Hill mine tenements, south east of Kambalda. Tawana in February entered into a farm-in agreement with Bald Hill’s holding company Amal... 

Ardiden brings in Chinese partner for Canada lithium plant

By: Megan van Wyngaardt     Updated 2 hours 33 minutes ago Diversified minerals explorer and developer Ardiden has signed a conditional binding term sheet with Chinese mining equipment manufacturer Yantai Jinyuan Mining Machinery to fund, design and build a lithium processing facility at its majority-owned Seymour Lake deposit, in Ontario. ASX-listed... 

Debswana to extend Jwaneng diamond mine life beyond 2024

By: Reuters     Updated 2 hours 37 minutes ago Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024, a mines minister said. The project, known as Cut 9, follows a $3-billion expansion of Botswana's richest diamond mine in... 

Gemfields advises shareholders to reconsider Pallinghurst deal

By: Megan van Wyngaardt     Updated 2 hours 37 minutes ago Gemfields on Wednesday advised its independent shareholders to “seriously consider” whether to accept Pallinghurst’s all-share offer. Pallinghurst on Tuesday said it had received acceptances for the offer exceeding 75%. 

Former Horseshoe exec brings copper/gold explorer to ASX

By: Creamer Media Reporter      Updated 2 hours 41 minutes ago Former Horseshoe Metals executive Neil Marston is bringing a new listing to the ASX, focusing on 900 km2 of ground in the Bryah basin and Gabanintha in Western Australia. Marston, who oversaw the listing of copper explorer Horseshoe in 2010, said on Wednesday that copper/gold explorer Bryah... 

Petra still expecting record production, despite lowering FY guidance

By: Megan van Wyngaardt     Updated 3 hours ago A slower-than-anticipated build-up of its expansion programmes has prompted Petra Diamonds to lower its full-year production guidance by 8% to 9% from the 4.4-million previously targeted. This, the LSE-listed diamond miner said, would have a coinciding 8% to 9% impact on its revenue, which will... 

Australia joins lithium-ion battery 'gigafactory' race

By: Mariaan Webb     Updated 3 hours ago Plans to build lithium-ion battery plants in Australia are moving apace, with at least two proposals on the table for 'gigafactories' in Queensland and the Northern Territory. A consortium led by Boston Energy and Innovation announced on Wednesday that it had selected a site for a planned... 

Cadia East prohibition notice lifted, ore extraction test phase starts

By: Mariaan Webb     Updated 3 hours ago Gold miner Newcrest Mining is making progress with remedial and upgrade work at its Cadia East mine, where a seismic event in April halted operations, with the company on Wednesday starting a testing phase to resume normal operations from the mine’s Panel Cave 2 (PC2). The New South Wales... 

Cadia East prohibition notice lifted, ore extraction test phase starts

Black junior Wescoal set to soar 

By: Martin Creamer     Updated 4 hours ago Stripping out Wescoal’s once-off nonrecurring costs paints a pretty picture of the performance of this black-controlled coal-mining and coal-marketing junior, which has declared a dividend payout of R22-million compared with R10-million last year The once-off costs of R90-million arose from the... 

Black junior Wescoal set to soar
Mining Weekly Online’s Martin Creamer talks to Wescoal CEO Waheed Sulaiman on the company’s results in the 12 months to March 31. Video and Video Editing: Lionel da Silva

Côte d'Ivoire's Shiloh Manganese aims for output of 120 000 t/y

By: Reuters     Updated 4 hours ago Côte d'Ivoire's Shiloh Manganese, a subsidiary of India's Shiloh Industries, aims to produce 120 000 t/y of manganese at its new mining operation, boosting national output to at least 350 000 t, a top company official told Reuters on Tuesday. Côte d'Ivoire is the world's top cocoa grower and is... 

New Gold’s Rainy River progresses on schedule, budget

By: Henry Lazenby     28th June 2017 Canadian miner New Gold on Tuesday reported that construction of its $1-billion-plus Rainy River project, in Ontario, remains on track to start operations in September, with commercial production expected to follow in November. “Through the second quarter, our team has both successfully commenced... 

IDM reports feasible mine plan for Red Mountain gold project

By: Henry Lazenby     28th June 2017 Exploration and development company IDM Mining has released the positive results of a feasibility study on the Red Mountain gold project, located near the town of Stewart, in north-western British Columbia. The 2017 study confirms the positive economics for a near-term, high-grade, bulk mineable... 

Seabridge gets federal law amendment to use fish-bearing streams for KSM tailings storage

By: Henry Lazenby     28th June 2017 The Canadian federal government has passed a regulatory amendment authorising project developer Seabridge Gold to use fish-bearing streams in the tailings management facility (TMF) for its Kerr-Sulphurets-Mitchell (KSM) project, in north-western British Columbia. The company announced on Tuesday... 

Gahcho Kué prices fetch new high at $95/ct

By: Henry Lazenby     28th June 2017 Mountain Province Diamonds has recorded its highest average price to date for diamonds produced at its 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, as it collected $21.1-million at its June tender sale. The company on Tuesday reported that the fifth tender of rough diamonds from... 

Gahcho Kué prices fetch new high at $95/ct
Photo by Reuters
Mountain Province Diamonds' Gahcho Kué mine has recorded its highest average price to date at $95/ct

Consolidation key to Sarama’s success in Burkina Faso’s best gold belt

By: Henry Lazenby     27th June 2017 Asset consolidation in the southern Houndé gold belt, in Burkina Faso, is critical to Perth, Western Australia-based project developer Sarama Resources successfully establishing “a mine or two” in the region. The company, which is incorporated in Canada’s province of British Columbia and has its... 

Consolidation key to Sarama’s success in Burkina Faso’s best gold belt

Brazil's Vale shareholders approve corporate reorganisation

By: Reuters     27th June 2017 Shareholders of Vale on Tuesday approved a share conversion plan, its press office said, in a bid to boost transparency, give equal votes to all shares and limit the possibility of government meddling in the world's No 1 iron-ore producer. Shareholders approved all seven items on the corporate... 

Libya's oil production rises above 900 000 bbl/d – sources

By: Reuters     27th June 2017 Libya's oil production stands at about 935 000 bbl/d this week after touching as high as 950 000 bbl/d late last week, Libyan oil sources said on Tuesday. The National Oil Corporation (NOC), which is targeting one-million barrels a day by the end of July, received a boost this month when it... 

Miners to tighten their belts for the remainder of the year – BMI

By: Megan van Wyngaardt     27th June 2017 Despite the modest recovery in global commodity prices, miners will remain focused on capital and supply discipline in the year ahead, through debt reduction and efficiency enhancements, research firm BMI said on Tuesday. In its ‘Mining Mid-Year Update: Key Themes For 2017’ report, it noted that... 

Miners to tighten their belts for the remainder of the year – BMI

Busa outlines vision for deracialised economy as it makes transformation mea culpa

By: Terence Creamer     27th June 2017 Business Unity South Africa (Busa) released its vision on Tuesday for accelerating the deracialisation of the South African economy, acknowledging that the pace and depth of transformation had been insufficient, to date, and that business needed to be more proactive in driving a “culture” of... 

Busa outlines vision for deracialised economy as it makes transformation mea culpa
Photo by Duane Daws
Busa president Jabu Mabuza

Stronger rand to affect Amplats’ H1 earnings

By: Megan van Wyngaardt     27th June 2017 The stronger rand is expected to have negatively impacted on Anglo American Platinum’s (Amplats’) headline earnings and headline earnings per share (HEPS) for the six months to June 30. Headline earnings are expected to be at least R329-million, or 126c a share, lower than in the six months to... 

Omnia FY17 results pinched by tough economy

By: Megan van Wyngaardt     27th June 2017 Chemicals producer Omnia on Tuesday reported a drop in headline earnings a share to 881c for the year ended March 31, from 944c in the prior financial year, owing to a tough economic environment. This resulted in an 8% drop in its profit before tax, to R856-million. 

Omnia FY17 results pinched by tough economy
Photo by Duane Daws
Omnia chairperson Rod Humphris

India targets advanced exploration of 73 mineral blocks in current financial year

By: Ajoy K Das     27th June 2017 India has targeted the completion of advanced exploration across 73 mineral blocks during 2017/18 in order for these blocks to be ready for the next phase of provincial government auctions. This is according to a Mines Ministry document on a review meeting of provinces’ mining preparedness. The... 

Zwane confident courts will find in favour of new Mining Charter

By: African News Agency      27th June 2017 Minister of Mineral Resources Mosebenzi Zwane said on Tuesday that he had noted the actions taken by the Chamber of Mines in applying for an urgent interdict on the 2017 Mining Charter, adding that he had confidence in the courts to rule in his department’s favour. This comes after the Chamber of... 

Zwane confident courts will find in favour of new Mining Charter
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Richland appoints sightholders for Australian sapphires

By: Megan van Wyngaardt     27th June 2017 Aim-listed gemstone producer Richland Resources’ Capricorn Sapphire subsidiary has entered into an exclusivity and supply agreement with jewellery manufacturer Royal Touch, which will buy all its heated green sapphires on an exclusive basis for the majority of the size fractions. The sapphires,... 

BHP investing in S Australia copper future with Olympic Dam expansion

By: Esmarie Swanepoel     27th June 2017 Mining major BHP has spent some A$250-million over the last four years to expand underground operations at its Olympic Dam copper project, in South Australia. The miner previously abandoned plans to expand its openpit operations at Olympic Dam, opting rather for an underground development... 

Pallinghurst secures 75% acceptances for Gemfields takeover

By: Megan van Wyngaardt     27th June 2017 JSE-listed Pallinghurst has now garnered acceptances for 75.18% of shares in takeover target, Aim-listed miner Gemfields. Pallinghurst CEO Arne Frandsen noted that the company was “delighted” to have received more than 75% support from Gemfields’ shareholders, including the majority of Gemfields’... 

Pallinghurst secures 75% acceptances for Gemfields takeover
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen

Santos seals strategic investment deal with ENN and Hony

By: Esmarie Swanepoel     27th June 2017 Oil and gas major Santos has struck a strategic investment deal with shareholders ENN Group and Hony Capital, which jointly own a 15.1% interest in the company. The strategic agreement is based on mutual cooperation and assistance to support the growth of Santos, and will see ENN and Hony use... 

Juniors welcome WA port decisions

By: Esmarie Swanepoel     27th June 2017 ASX-listed juniors Atlas Iron and Mineral Resources on Tuesday welcomed the Western Australian government’s decision to keep export costs from the Utah Point Bulk Handling Facility (UPBHF) unchanged. Atlas and Mineral Resources are the only two remaining junior miners that export Pilbara product... 

Australia’s CEFC invests A$20m in lithium/tantalum mine

By: Esmarie Swanepoel     27th June 2017 The federal government will invest around A$20-million into the Pilgangoora lithium tantalum project, in Western Australia. The investment will be done through the Clean Energy Finance Corporation (CEFC), and is the current government’s first investment in a mining project of this kind in... 

Australia’s CEFC invests A$20m in lithium/tantalum mine
Photo by Bloomberg
Pilbara Minerals CEO Ken Brinsden

Alkane ups gold expectations

By: Esmarie Swanepoel     27th June 2017 ASX-listed Alkane Resources has increased its production expectations for the second half of 2017 on the back of continued strong production from its Tomingley gold project, in New South Wales. The company expects to produce between 43 000 oz and 45 000 oz, instead of the previous guidance of... 

Aphrodite to cost A$123m

By: Esmarie Swanepoel     27th June 2017 A prefeasibility study into the Aphrodite gold project, in Western Australia, has estimated that a capital injection of A$81-million would be required for a one-million-tonne-a-year carbon-in-leach (CIL) operation, growing to A$123-million if a pressure oxidation process (POX) is incorporated.... 

Dartbrook resource estimated at 2.5-billion tonnes

By: Esmarie Swanepoel     27th June 2017 An independent assessment has estimated that the Dartbrook project, in New South Wales, contained some 2.5-billion tonnes of coal resource. ASX-listed Australian Pacific Coal on Tuesday said that some 588-million tonnes were classified as measured with a further 850-million tonnes classified as... 

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