R/€ = 15.79 Change: -0.08
R/$ = 14.36 Change: -0.04
Au 1320.00 $/oz Change: -0.20
Pt 1085.50 $/oz Change: 0.50

Mining News

Fuel cell thrust continuing – Anglo American Platinum 

By: Martin Creamer     25th July 2016 The momentum around fuel cell vehicles as one of the zero-emission technologies of the future is continuing to build as shown by launches and proposed launches of commercially available fuel cell electric vehicles by major car manufacturers. Pictures of fuel cell electric vehicles bearing... 

Debmarine Namibia acquires N$2.3bn diamond exploration vessel

By: Megan van Wyngaardt     25th July 2016 Namibia-based marine diamond mining giant Debmarine Namibia on Monday took ownership of the SS Nujoma, the sixth ship in its fleet of diamond mining and exploration vessels, from Norwegian shipbuilder Kleven Verft. The 113-m-long ship was built in Norway and will embark on its maiden voyage for... 

Debmarine Namibia acquires N$2.3bn diamond exploration vessel

Electromagnetic survey defines multiple drill targets at Tanzania project

By: Anine Kilian     25th July 2016  Multiple conductive targets have been identified at Aim-listed Armadale’s Mahenge Liandu graphite project, in south-east Tanzania. This followed electromagnetic (EM) surveys conducted at the project as part of the company’s preparations for drilling, which is expected to get under way in six to... 

Chamber disputes veracity of Unctad underinvoicing claim

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

Bushveld to acquire Vametco at lower price

By: Megan van Wyngaardt     25th July 2016 Aim-listed Bushveld Minerals and Evraz Group have agreed on amendments to the terms of the share purchase agreement for the acquisition by Bushveld Vametco of Evraz’s Strategic Minerals Corporation (SMC), resulting in the purchase price reducing from $17.2-million to $16.4-million. Bushveld and... 

Makhado gets EIA authorisation

By: Anine Kilian     25th July 2016 The Department of Mineral Resources (DMR) and the Limpopo Department of Economic Development, Environment and Tourism (LEDET) have granted triple-listed miner Coal of Africa (CoAL) environmental authorisation for its Makhado project, located in Limpopo’s Soutpansburg coalfield. The departments... 

Osisko disposes of shares in three companies

By: Megan van Wyngaardt     25th July 2016 TSX-listed precious metals company Osisko Mining has disposed of several million shares in fellow TSX-listed explorers, including 1.29-million common shares in Metals Creek Resources and 6.25-million common shares in IDM Mining, for the consideration of $133 891 and $1.37-million, respectively.... 

Falcon makes progress on Beetaloo well programme

By: Megan van Wyngaardt     25th July 2016 Triple-listed energy company Falcon Oil & Gas’s nine-well exploration and appraisal programme in Australia’s Beetaloo basin, running between 2015 and 2018, is progressing as planned, the company announced on Monday. The horizontal section of the Amungee NW-1H well was successfully cased and... 

Alacer’s Q2 performance in line with expectations

By: Natasha Odendaal     25th July 2016 Having produced 30 047 oz of gold and 24 038 oz attributable gold during the second quarter to June, ASX- and TSX-listed Alacer Gold plans to ramp up production during the second half of 2016. The second quarter of the year, which delivered in line with expectations, operated at a total cash cost... 

Rockcliff embarks on $1.7m raising

By: Creamer Media Reporter      25th July 2016 Canadian resource exploration company Rockcliff Copper is moving to raise $1.75-million to fund a significant drill programme at its Talbot and Rail properties, in Manitoba. The TSX-V-listed firm is offering 25-million units, comprising one common share and one-half of a common share purchase... 

India to unveil natural gas infrastructure policy

By: Ajoy K Das     25th July 2016 India’s Oil and Natural Gas Ministry will shortly unveil a national liquefied natural gas (LNG) infrastructure and logistic policy, laying down standards, benchmarks and conditions for domestic and foreign LNG project developers. Officials familiar with the framing of the new policy have said... 

Calibre, Centerra Siuna JV advances positive results

By: Natasha Odendaal     25th July 2016 Recent exploration at the newly added Siuna mineral concessions belonging to TSX-V-listed Calibre Mining’s 253 km2 silver-gold project, in north-east Nicaragua, is returning positive results. The company said last week that exploration activities at the Siuna project, which added some additional... 

Petra to reach five-million-carat target earlier than expected

By: Creamer Media Reporter      25th July 2016 Following a year of strong growth and record production, Petra Diamonds now expects to reach its five-million-carat-a-year production target in the 2018 financial year – a year sooner than previously anticipated. Petra produced 3.7-million carats in the year ended June 30, a 16% increase on the... 

Petra to reach five-million-carat target earlier than expected
Photo by Duane Daws
Petra CEO Johan Dippenaar

Challenger achieves planned output rates

By: Mariaan Webb     25th July 2016 he Challenger gold mine, in South Australia, which was reopened in May, has achieved its targeted mining rate after a ramp-up period of about six weeks, new owners WPG Resources and Diversified Minerals reported on Monday. Challenger has a targeted mining rate of 360 000t/y, which is equivalent... 

Crater Gold upbeat about Queensland graphite project

By: Mariaan Webb     25th July 2016 An independent technical review of ASX-listed Crater Gold’s Golden Gate graphite project, in North Queensland, has presented a strong business case to support the development of the project. The independent review by N H Cole and Associates (NC) of the Golden Gate project concluded that the... 

Drone technology investment a ‘shot in the arm’ for resources sector

By: Mariaan Webb     25th July 2016 The Queensland government's A$1-million investment in drone technology has been hailed as a “shot in the arm” for the resources sector at large. Queensland Resources Council CEO Michael Roche on Monday described the funding announcement as a “welcome boost” to the adoption of remotely piloted... 

TNG seeks reapproval for NT base metals spin-off plan

By: Mariaan Webb     25th July 2016 Strategic metals company TNG plans to have a second go at the demerger of a portfolio of noncore zinc and copper assets in the Northern Territory. The ASX-listed company originally announced the demerger in April last year and gained shareholder approval for the spin-off the following month, but... 

Lithium Australia expands in WA with acquisition

By: Anine Kilian     25th July 2016 ASX-listed Lithium Australia has expanded its lithium holdings throughout Western Australia with the acquisition of additional acreage in the prospective Gascoyne region. The company reported on Monday that it had acquired three new prospects by taking over of private company, Lithophile. 

Wesfarmers lifts Curragh quarterly output, FY16 falls short

By: Anine Kilian     25th July 2016 ASX-listed Wesfarmers has significantly increased its fourth-quarter production at the Curragh mine, in Queensland, relative to the third quarter, but its full-year metallurgical coal production is down on last year’s, while steaming coal output increased only marginally. For the quarter ended... 

Regulatory uncertainty worries Queensland CEOs – survey

By: Megan van Wyngaardt     25th July 2016 Legislation stemming from the Queensland Parliament is a greater concern to resource company CEOs than global macroeconomic conditions, the Queensland Resources Council’s (QRC’s) quarterly ‘State of the Sector’ survey has found. The survey reveals, that for the second quarter in a row, concerns... 

Anglo American Platinum generates strong free cash flow, cuts debt

By: Martin Creamer     25th July 2016 Anglo American Platinum (Amplats) on Monday reported generating R3.2-billion free cash flow in the six months ended June 30, and cutting debt by R2.9-billion, despite the lower price environment. The leading platinum producer’s sales revenue increased by 3% to R30.7-billion, its earnings before... 

Anglo American Platinum generates strong free cash flow, cuts debt
Photo by Duane Daws
Anglo American Platinum CEO Chris Griffith

Creamer Media publishes Africa Mining Projects in Progress 2016 - First Edition

     25th July 2016 This edition of Creamer Media’s Africa Mining Projects in Progress 2016 (First Edition) reviews recently announced scoping, prefeasibility and definitive/bankable feasibility studies on projects across the continent, as well as the projects that are under way. 

Creamer Media publishes Africa Mining Projects in Progress 2016 - First Edition

Strike ends at Anglo's El Soldado copper mine in Chile

By: Reuters     25th July 2016 Workers at Anglo American's small El Soldado copper mine in Chile called off a strike on Friday after reaching an agreement with the company, a union official told Reuters. The union has been on strike since July 8 after initial discussions failed with the company during its contract talks. 

Guinea's SBDT bauxite project to begin mine construction this year

By: Reuters     25th July 2016 Guinea's Societe des Bauxites de Dabola-Tougue (SBDT) expects to begin construction on a mine by the end of this year that would allow it to exploit its large, untapped reserves of bauxite, the company's chief executive said on Friday. The state of Iran holds a 51% stake in SBDT, which owns... 

Randgold lowers Côte d'Ivoire output forecast on power cuts

By: Reuters     25th July 2016 Randgold Resources' Tongon mine in Côte d'Ivoire will have a slightly lower gold output this year than previously expected mainly owing to an erratic power supply, Chief Executive Mark Bristow told reporters late on Saturday. The mine, one of five operated by the London-listed company in three... 

Randgold lowers Côte d'Ivoire output forecast on power cuts
Randgold Resources CEO Mark Bristow

World heading for shortage of physical gold – DRDGold  

By: Martin Creamer     25th July 2016 Confidence in the world order and the ability of governments to manipulate the value of fiat currency is seen to be diminishing, as is confidence in governments as credible sources of capital. What the world does in such circumstances is buy gold but there may not be enough gold to buy because of... 

World heading for shortage of physical gold – DRDGold
DRDGold CEO Niël Pretorius spells out upcoming gold supply constraints to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer. 24.7.2016

Newcrest meets FY16 production guidance, cuts debt to $2.1bn

By: Mariaan Webb     25th July 2016 Australia’s largest gold producer Newcrest has met its production target for a third year, producing 2.4-million ounces of gold in the 12 months to June 30. The group increased its production by 0.7% year-on-year in 2016, but its fourth quarter production slid by 6% quarter-on-quarter to 598 037... 

Newcrest meets FY16 production guidance, cuts debt to $2.1bn
A strong performance at the Lihir mine, in Papua New Guinea, has helped to offset production disruptions elsewhere in the group.

Kibo reaches net smelter royalty agreement with Acacia

By: Megan van Wyngaardt     22nd July 2016 Dual-listed Kibo Mining has reached an agreement with Acacia Mining to convert Acacia's residual equity interests in the Imweru and Lubando projects, in Tanzania, to a 2% net smelter royalty. The agreement was signed between Reef Miners, Kibo's wholly-owned Tanzanian subsidiary, which holds the... 

CRG concludes JV tolling agreement with gold-bearing ore supplier

By: Megan van Wyngaardt     22nd July 2016 Dual-listed gold miner Central Rand Gold (CRG) has completed and executed the definitive documents that will govern its joint venture (JV) tolling agreement with an unnamed third-party supplier of gold-bearing ore. CRG announced in June that it had entered into an agreement with the supplier,... 

Drilling programme under way at Independence’s Boulevard project

By: Anine Kilian     22nd July 2016 TSX-V-listed Independence Gold has started a reverse circulation (RC) drilling programme at its 100%-owned Boulevard project, 135 km south of Dawson City, Canada, and will also be undertaking a rotary air blast (RAB) drilling programme at its recently optioned Rosebute property, 58 km south of... 

Gold Fields appoints two more directors

By: Megan van Wyngaardt     22nd July 2016 Gold Fields has appointed Alhassan Andani and Peter Bacchus as independent nonexecutive directors, effective August 1 and September 1, respectively. Gold Fields earlier this month announced that former KPMG Africa chairperson Yunus Suleman would join the board in September, while outgoing Impala... 

Bauba to recover R15m debt through resale

By: Natasha Odendaal     22nd July 2016 JSE-listed Bauba Platinum on Friday said an agreement had been reached that will see the company recoup R15-million of debt previously thought to be unrecoverable through the resale of recovered product. The debt owed by an undisclosed party had followed the delivery of 20 000 t of chrome ore... 

Weatherly Q4 output drops on higher-than-expected groundwater inflows

By: Natasha Odendaal     22nd July 2016 Increased groundwater inflow rates have hampered production at the Tschudi openpit copper mine, in Namibia, in the quarter ended June 30. Aim-listed Weatherly International on Friday said the groundwater inflow rates had surpassed the levels forecast in the operation’s bankable feasibility study,... 

Arctic Star acquires Athabasca-based diamond project

By: Anine Kilian     22nd July 2016 TSX-V-listed diamond exploration company Arctic Star has wholly acquired the Diamond Dune project in the Saskatchewan province’s Athabasca Basin, the company announced on Friday. The new exploration project consists of two separate claim blocks totalling 40 832 ha located south-west and... 

Regis to step up gold production in FY17

By: Megan van Wyngaardt     22nd July 2016 Australian gold producer and explorer Regis Resources has increased its production guidance for the 2017 financial year to between 305 000 oz and 330 000 oz, after a strong operational performance in 2016. The company produced 78 741 oz in the three months ended June, from its Duketon gold mine,... 

Former mineworkers owed billions of rands

By: Natasha Odendaal     22nd July 2016 A substantial sum – between R7-billion and R10-billion – of an estimated R30-billion in unclaimed benefits is believed to be due to South Africa’s former mineworkers. The Department of Mineral Resources (DMR) is working to deliver a single compensation legislation by March and an integrated... 

Suspected Zama Zamas shot and arrested in Benoni

By: African News Agency      22nd July 2016 One man died and six others were wounded during a shootout between illegal miners and members of the police’s National Intervention Unit (NIU) in Benoni, east of Johannesburg, police said on Friday. Police spokesman Vishnu Naidoo said the unit, acting on information on the possible proliferation... 

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