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Mining News

Electric vehicles seen driving cobalt crunch by mid-2020s

By: Reuters     Updated 5 hours ago The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in... 

Vale sees key mine topping iron-ore output forecasts in 2018 – source

By: Reuters     Updated 5 hours ago Brazilian miner Vale expects iron-ore output at its premier S11D mine to reach 58-million tonnes this year, above an official forecast of 50-million to 55-million tonnes, a person familiar with the matter said. The expected increase is due mainly to selling more "canga," or iron-ore with a... 

Nautilus unveils spider-inspired sediment sampler

By: Henry Lazenby     Updated 5 hours ago Marine mining pioneer Nautilus Minerals has unveiled a new autonomous sediment sampler called the’ Nautilus Jumping Spider’ for use to sample deepsea deposits, that could cut down on exploration costs “by an order of magnitude”, the company reported on Thursday. Based in Toronto, Nautilus said... 

Fireweed tumbles following positive Macmillan Pass PEA

By: Henry Lazenby     Updated 6 hours ago Vancouver-based explorer Fireweed Zinc has reported strong economic indicators for its Macmillan Pass project, in Canada’s Yukon Territory, sending its TSX-V-listed stock up 6% on Thursday to open at a 52-week high, before closing down 11% by market close. Based on metal price assumptions of... 

EY’s Canadian Mining Eye Index falls in Q1

By: Henry Lazenby     Updated 6 hours ago The EY Canadian Mining Eye index has shown a decline in first-quarter performance, falling 8% from the fourth quarter of 2017, the professional services firm reported on Thursday. Based on the 2018 operating guidance released by the majority of Canadian gold mining companies, average production... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

By: Henry Lazenby     Updated 7 hours ago Only about one-third of the 15 largest copper producers with output of more than 40 000 t of copper per quarter reported positive production trends during the first quarter, driving quarter-over-quarter output 4.8% or 136 548 t lower, a new report by S&P Global has found. However, on an annual... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

Probe into influence peddling to start hearings in August

By: Reuters     24th May 2018 An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

Polyus sees 2018 production at upper end of guided range

By: Reuters     24th May 2018 Polyus, Russia's largest gold producer, said on Thursday its 2018 production was likely to be at the upper end of the forecast range of 2.375-million to 2.425-million troy ounces. Speaking on the sidelines of the St Petersburg economic forum, Polyus CEO Pavel Grachev also said the company's... 

Semafo signs mining services contract with AUMS

By: Creamer Media Reporter      24th May 2018 TSX-listed Semafo has signed a mining services contract with African Underground Mining Services (AUMS) for the Siou underground mine, in Burkina Faso. AUMS will be responsible for supplying the mining fleet and a skilled labour force for the Siou underground mine, in addition to providing... 

IronRidge appoints new chairperson

By: Anine Kilian     24th May 2018 Neil Herbert has been appointed nonexecutive chairperson of Aim-listed IronRidge Resources with immediate effect. He succeeds Nick Mather, who will remain on the board as a nonexecutive director. 

Signet joins De Beers' Tracr blockchain platform pilot

By: Anine Kilian     24th May 2018 Signet Jewelers will become the first retailer to join De Beers Group's end-to-end diamond blockchain pilot programme, known as Tracr. Tracr aims to complete the first digital link all the way from diamond production through to retail. 

Katoro reaffirms mining potential at Imweru

By: Anine Kilian     24th May 2018 Aim-listed Katoro Gold on Thursday confirmed that there was good upside potential for the further development of its Imweru gold project, in Tanzania. The company assessed the economic viability of the project, based on the results of a prefeasibility study and the new mining legislation and... 

Pan African completes commissioning of Barberton regrind mill, Elikhulu to pour first gold in August

By: Simone Liedtke     24th May 2018 The commissioning of Pan African Resources’ Barberton Mines Tailings Retreatment Plant (BTRP) regrind mill will be completed this week, on schedule and on budget. The gold producer on Thursday said BTRP is expected to reach an annualised gold production of 21 000 oz in the next month. 

Resources Watch  

24th May 2018 Learning opportunity on mining training’s competitive edge And, consolidation needed to save jobs 

Resources Watch
Resources Watch

Petra’s shares fall on $178m proposed rights issue

By: Simone Liedtke     24th May 2018 Petra Diamonds’ share price on the LSE fell by more than 20% on Thursday after it announced plans to raise $178-milion, or about £133-million, through a fully underwritten 5 for 8 rights issue. The diamond miner, which has operations in South Africa and Tanzania, said its cash flow generation... 

Petra’s shares fall on $178m proposed rights issue
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Jet engines help power cobalt to 10-year highs

By: Reuters     24th May 2018 The spotlight in the cobalt market has been fixed on electric vehicles but shrinking supply and robust demand from traditional sectors such as jet engine makers are helping fuel a price rally that shows no signs of fading. Cobalt in recent years has become synonymous with electric vehicles as it... 

Northam ups funding capacity as stockpile monetisation ensues

By: Martin Creamer     24th May 2018 Platinum mining company Northam has increased its funding capacity to tide it over a capital intensive development period. A new R1-billion two-year unsecured revolving credit facility to April 2020 is augmenting a previous R2-billion unsecured revolving credit facility to November 2021, taking... 

Northam ups funding capacity as stockpile monetisation ensues
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Anglo Asian copper, gold, silver miner moots maiden dividend

By: Reuters     24th May 2018 Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash. A dividend would set Anglo Asian apart from many London-listed junior miners, which... 

Copper miner Atalaya's Q1 profit jumps 54%

By: Mariaan Webb     24th May 2018 Copper miner Atalaya Mining has posted a 54% increase in its first-quarter profit, on the back of stronger copper prices and an increase in concentrate volumes sold. After-tax profit increased from €5.7-million, or 4.8c a share, in the first quarter of 2017, to €8.8-million, 6.5c a share, in... 

Copper miner Atalaya's Q1 profit jumps 54%
Proyecto Riotinto

Indian thermal power plants reeling from coal shortages

By: Ajoy K Das     24th May 2018 Private and public thermal power plants across India are facing an acute shortage of coal, at a time when rising electricity demand during summer months has sent the spot price of electricity skyrocketing. According to data sourced from industry policy advisory body, the Central Electricity... 

Western Australia to formulate lithium and energy materials strategy

By: Esmarie Swanepoel     24th May 2018 The Western Australian government has announced the formation of a taskforce to capitalise on the region’s lithium and energy material potential. The taskforce will oversee development of a Lithium and Energy Materials Strategy to build on Western Australia's competitive advantages, and to... 

ABx separates Alcore into own entity, lowers capex forecast

By: Esmarie Swanepoel     24th May 2018 Bauxite producer Australian Bauxite (ABx) on Thursday announced that it would develop its Stage 1 Alcore pilot plant project, in New South Wales, through a new wholly owned subsidiary Alcore. A previous engineering and cost study on the Stage 1 project estimated that a capital investment of... 

EU starts new investigation into steel imports from China

By: Reuters     24th May 2018 The European Commission has opened an investigation into hot-rolled steel sheet piles imported from China to determine whether they are being dumped in Europe, according to a notice in the EU Official Journal on Thursday. The investigation into a form of steel used in construction was launched... 

Mining’s share of total project work in Queensland falling

By: Esmarie Swanepoel     24th May 2018 While the Queensland Major Projects Pipeline Report has shown a 58% increase in major project work during 2017/18, private sector investment, particularly in the mining sector, is falling. The report, compiled by the Queensland Major Contractors Association, Construction Skills Queensland and... 

Mining’s share of total project work in Queensland falling

Mantashe vows to finalise mining charter in June

By: African News Agency      24th May 2018 South African minister of mineral resources Gwede Mantashe said on Thursday his department plans to finalise the revamped mining charter, the government's regulation tool for transformation, by the end of next month. "We aim to finalise and gazette the mining charter in June, having taken onboard... 

Mantashe vows to finalise mining charter in June
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

PanTerra pursues $25m damages claim against Dominican govt

By: Esmarie Swanepoel     24th May 2018 ASX-listed PanTerra Gold on Thursday told shareholders that it would pursue up to $25-million in damages from the Dominican government, over allegations that the government failed to meet its contractual obligations at the Las Lagunas tailings dam project. The Las Lagunas project involves the... 

Hillgrove restarts Kanmantoo plant

By: Esmarie Swanepoel     24th May 2018 Copper/gold miner Hillgrove Resources has resumed processing at its Kanmantoo operation, after a mechanical failure earlier in the month resulted in a temporary stoppage in production. Hillgrove undertook work to replace a failed bearing, with the company telling shareholders on Thursday that... 

DGO raises cash to fund De Grey deal

By: Esmarie Swanepoel     24th May 2018 ASX-listed DGO Gold will raise between A$4.4-million and A$5.9-million through a one-for-two entitlement offer. The offer will be priced at 75c a share, which represented a 3.5% discount to DGO’s closing price for the five days prior to May 23. 

Origin sells metering business

By: Esmarie Swanepoel     24th May 2018 Integrated energy company Origin Energy will sell its metering business, Acumen, for A$267-million to intelliHub. ASX-listed Origin said on Thursday that it has also committed to a competitive long-term agreement with Acumen for the ongoing deployment and management of digital meters for its... 

Australian gold miners to benefit from new technology

By: Esmarie Swanepoel     24th May 2018 Australian gold miners are set to benefit from new technology being deployed by mining services company Ausdrill, in Western Australia. Ausdrill, through its subsidiary MinAnalytical, has installed a Chrysos photon assay machine at its facility, which will reduce the time to analyse a drilling... 

Spitfire takes hold of Mulwarrie

By: Esmarie Swanepoel     24th May 2018 ASX-listed Spitfire Materials will acquire the remaining 49% interest in the Mulwarrie gold project, in Western Australia, taking full ownership of the operation. Spitfire will issue the vendors some 10-million fully paid ordinary shares, which will be voluntarily escrowed for 12 months, as... 

Vital finds visible gold in Niger

By: Esmarie Swanepoel     24th May 2018 The share price of ASX-listed explorer Vital Metals increased by nearly 13% on Thursday, after the company reported visible gold at its Bella Tondi prospect, at the Bouli gold project in Niger. MD Mark Strizek told shareholders that visible gold was delivered from one of the drill holes at the... 

Oz extends Avanco takeover

By: Esmarie Swanepoel     24th May 2018 Copper/gold miner Oz Minerals has extended its takeover offer period for fellow-listed Avanco Resources until June 14. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Chile high court declines to weigh in on lithium spat at Maricunga

By: Reuters     24th May 2018 Chile's constitutional court said it would not get involved in a dispute between a foreign-backed miner and state-run copper miner Codelco over adjoining lithium deposits in the Maricunga salt flat, according to a court document seen by Reuters on Wednesday. Salar Blanco, 50%-owned by... 

Global copper surplus falls 12.8% to 110 000 t

By: Henry Lazenby     24th May 2018 The global refined copper balance for the first two months of this year indicates a surplus of about 110 000 t, a 12.8% drop year-on-year, the International Copper Study Group has found. The Lisbon, Portugal-based think tank said apparent refined demand increased 3.9% year-on-year to 3.77-million... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

By: Henry Lazenby     24th May 2018 Absent any significant global economic disturbances disrupting consumer diamond demand, incremental year-on-year diamond production declines are forecast to drive real diamond prices up by about 10% cumulatively from 2018 through 2021, or 17% in nominal terms, a new report by independent analyst... 

Optimistic diamond price outlook could underpin a return to profit, dividends – Zimnisky

Copper shortfall expected – Antofagasta CEO

By: Henry Lazenby     24th May 2018 London-based base metals company Antofagasta said on Wednesday it expects a shortfall of copper to emerge because of the slow rate at which new mines are permitted and built. Antofagasta chairperson Jean-Paul Luksic said at the company's annual general meeting that the emergence of new sources of... 

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