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Mining News

AISC bans former mining magnate Tinkler from managing companies

By: Esmarie Swanepoel     Updated 6 minutes ago The Australian Securities and Investment Commission (ASIC) has banned former coal mining entrepreneur Nathan Tinkler and two of his associates from managing companies for up to four years, with the watchdog citing failures in their duties as directors. The former billionaire's three-years and... 

Coventry and Vista consolidate Alaska projects under new name

By: Esmarie Swanepoel     Updated 9 minutes ago ASX-listed Coventry Resources has announced plans to acquire Vista Minerals, with the combined entity to be renamed Polaris Minerals. Vista Minerals holds the Stellar copper/gold project, in Alaska, which is contiguous with Coventry’s own Caribou Dome project, with the company saying on... 

Coventry and Vista consolidate Alaska projects under new name

Graphex agrees to terms with Chinese partner

By: Esmarie Swanepoel     Updated 10 minutes ago Junior Graphex Mining has agreed to the terms of a joint venture (JV) and offtake agreement over its Chilalo graphite project, in Tanzania, with a Chinese syndicate led by CN Docking Joint Investment and Development Co. The syndicate would be required to make an equity investment of between... 

Iluka flags zircon price surge

By: Esmarie Swanepoel     Updated 11 minutes ago Mineral sands miner Iluka on Wednesday flagged an increase in its zircon reference price of $130/t, to $1 100/t, effective from July this year. The reference price is the benchmark against which a range of Iluka’s zircon products are priced, with the miner telling shareholders that its weighted... 

Vedanta hits production high spot at Black Mountain

By: Martin Creamer     Updated 21 minutes ago Diversified mining company Vedanta has achieved its highest quarterly production in four years at Black Mountain in South Africa, where the Gamsberg zinc project is on track to begin production towards the middle of next year. In addition, mobilisation on the Skorpion pit layback in neighbouring... 

Vedanta hits production high spot at Black Mountain
Photo by Bloomberg
Vedanta chairperson Anil Agarwal

NT govt extends Mt Todd agreement

By: Esmarie Swanepoel     Updated 22 minutes ago The Northern Territory government has extended its agreement with junior Vista Gold for the management of the Mt Todd gold mine. The mine, which ceased operations in 2000, is estimated to contain some 7.4-million ounces of gold. 

Appea welcoms gas umpire in Qld

By: Esmarie Swanepoel     Updated 23 minutes ago The Australian Petroleum Production & Exploration Association (Appea) has welcomed the establishment of the new Land Access Ombudsman in Queensland, after legislation was introduced to Parliament earlier this week. The government in December of last years announced that the independent ombudsman... 

Heron awards earthworks contract at Woodlawn

By: Esmarie Swanepoel     Updated 25 minutes ago Base metals developer Heron Resources has signed a A$12-million earthworks contract for its Woodlawn copper-zinc project, in New South Wales. The contract with Ertech includes the construction of the main road access from the sealed Collector road, process plant site leveling and foundation... 

Western Areas adds A$13m to botom-line

By: Esmarie Swanepoel     Updated 26 minutes ago Nickel miner Western Areas has reported a A$13.3-million increase in the post tax earnings for 2017, on the back of discontinuing to equity account its investment in Bluejay Mining. The company told shareholders that it had ceased to equity account its investment in Bluejay with the company’s... 

MCA calls for nuclear energy in Australia

     Updated 29 minutes ago The Minerals Council of Australia (MCA) has urged the Australian government to consider nuclear energy in the nation’s future. Speaking at the Paydirt South Australian Resources and Energy Investment conference, MCA’s executive director for uranium, Daniel Zavattiero, said that Australia’s... 

NUM to begin wage negotiations with Kumba Iron Ore

By: African News Agency      Updated 33 minutes ago The National Union of Mineworkers (NUM) said on Tuesday, will this week start wage negotiations with Kumba Iron Ore as the three-year agreement comes to an end on June 30. The NUM said it will table the demands of its members in Kumba Iron Ore operations in the Northern Cape, in Kolomela and... 

Alrosa secures stake in Angola's largest diamond deposit

By: Reuters     Updated 1 hour 4 minutes ago Russian miner Alrosa has bought a stake in Angola's Luaxe diamond deposit, it said on Tuesday, providing the company with access to a production base outside Russia. Alrosa and Endiama, the National Diamond Company of Angola, have signed a contract to secure 50.5% of what is Angola's largest... 

Arconic, Elliott settle proxy contest

By: Henry Lazenby     24th May 2017 Specialty alloys manufacturer Arconic has reached agreement with activist shareholder Elliott Management and its affiliates, who together hold about 13.2% of the company, to resolve the pending proxy contest regarding the company’s May 25 annual general meeting (AGM). NYSE-listed Arconic has... 

Brazil miner Samarco says resuming operations this year challenging

By: Reuters     24th May 2017 Brazilian iron ore miner Samarco Mineração believes resuming operations this year will be challenging, though there remains a small possibility, Roberto de Carvalho, CEO, told Reuters on Tuesday. The company, which halted operations in November 2015 after a dam burst, said talks are continuing... 

Geoscience BC launches third phase of govt-sponsored geologic survey

By: Henry Lazenby     24th May 2017 Non-profit organisation Geoscience BC has announced a third phase in a series of aerial surveys, with the aim to identify hidden mineral potential in north central and north-eastern British Columbia. Called Search Phase III, the survey will use helicopters fitted with magnetic sensors to build a... 

Despite production disruptions, copper saw February surplus of 150 000 t

By: Henry Lazenby     24th May 2017 Analysis of the latest data published by the International Copper Study Group (ICSG) showed global surplus copper output of 150 000 t in February, despite disruptions at massive key mines in Chile and Indonesia. The ICSG ascribed the surplus mainly to a sharp decline in Chinese apparent demand,... 

Despite production disruptions, copper saw February surplus of 150 000 t

Endeavour reports solid progress with Houndé construction 85% complete

By: Henry Lazenby     23rd May 2017 West Africa-focused miner Endeavour Gold has reached the 85%-complete mark in building the Houndé mine, in Burkina Faso, after receiving and starting installation of the longest lead time item, the semi-autogenous grinding mill. Endeavour, which expects to produce between 600 000 oz and 640 000... 

Asanko prioritises Akwasiso ahead of Dynamite Hill following fast Ghanaian approval

By: Henry Lazenby     23rd May 2017 The Ghanaian government has given the green light for TSX- and NYSE MKT-listed miner Asanko Gold to start mining operations at the Akwasiso deposit, in Ghana, ahead of the Dynamite Hill deposit, as previously planned. The Vancouver-based company will benefit from greater mining flexibility by... 

Petmin to delist by June as Bidco buyout becomes unconditional

By: Natasha Odendaal     23rd May 2017 JSE-listed Petmin on Tuesday announced that it was on track for a June delisting from the Johannesburg bourse as newly incorporated public company Bidco’s acquisition of all or a portion of its issued ordinary shares becomes unconditional. Petmin expected to terminate its listing of shares on the... 

Ivanhoe receives final instalment from Zijin for Kamoa stake

By: Creamer Media Reporter      23rd May 2017 TSX-listed Ivanhoe Mines has received the final installment of $41.2-million owing from a subsidiary of Zijin Mining Group as part of a strategic codevelopment agreement under which Zijin acquired 49.5% of Ivanhoe’s majority stake in Kamoa Holding for $412-million. Kamoa Holding has an indirect... 

Gold miners slowly shift focus to growth

By: Natasha Odendaal     23rd May 2017 Gold miners are gradually shifting their focus to growth and renewed investments after years of financial austerity measures and the prioritisation of cost competitiveness and core assets. While firms will remain committed to lowering costs to improve their competitiveness and reducing debt to... 

Company climate risk disclosure could become mandatory in a few years

By: Reuters     23rd May 2017 Companies' disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to disclose the... 

Katoro Gold starts trading on Aim

By: Megan van Wyngaardt     23rd May 2017 Katoro Gold, previously Opera Investments, through its reverse takeover of Kibo Gold’s Imweru and Lubando gold projects, has been relisted on the LSE. The Tanzania-focused gold exploration company said the admission of its ordinary shares to trading on the Aim-market started at 08:00 on Tuesday,... 

Thos Begbie’s global quality status boosted by on-the-spot Dekra 

By: Martin Creamer     23rd May 2017 The same-site working relationship that Thos Begbie has established with global quality inspectorate Dekra Industrial RSA is giving the prolific exporter of copper castings a commercial edge in its global dealings with mining and smelter-related customers worldwide. Thos Begbie now hosts the... 

Thos Begbie’s global quality status boosted by on-the-spot Dekra
Engineering News Online’s Martin Creamer talks to Thos Begbie’s Edwin Dreyer and Dekra’s Johan Gerber. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Lionel da Silva.

Anglo American appoints Ian Ashby to board

By: Megan van Wyngaardt     23rd May 2017 Anglo American has appointed Ian Ashby as a nonexecutive director, effective July 25. With 37 years of experience in the mining industry, including 25 years in a variety of roles with BHP Billiton, ultimately leading the company’s iron-ore business, Anglo American chairperson John Parker noted... 

CML welcomes Rockwell Diamonds’ business rescue process

By: Megan van Wyngaardt     23rd May 2017 C-Rock Mining Limited (CML), the company that brought a provisional liquidation application against three subsidiaries of Aim-listed Rockwell Diamonds, has welcomed the court’s decision to place the subsidiaries under business rescue. CML had previously applied to have the three subsidiaries –... 

Gem Diamonds recovers 98 ct diamond at Letšeng

By: Megan van Wyngaardt     23rd May 2017 LSE-listed Gem Diamonds on Tuesday reported recovering a 98.42 ct high-quality D-colour Type II diamond at its 70%-owned Letšeng mine, in Lesotho. CEO Clifford Elphick commented that it had recovered 25 479 ct of diamonds at Letšeng at a grade of 1.53 carats per hundred tonnes (cpht), against an... 

Gem Diamonds recovers 98 ct diamond at Letšeng

Georgian Mining raises $7m for copper/gold exploration

By: Mariaan Webb     23rd May 2017 Aim-listed copper and gold developer Georgian Mining has raised $7-million in an oversubscribed placing to expand the resource at its Kvemo Bonisi (KB) project in Georgia. The project, located on the Tethyan belt, which is host to multiple high grade copper/gold deposits and producing mines in... 

Georgian Mining raises $7m for copper/gold exploration

Queensland coal mining jobs growing again

By: Esmarie Swanepoel     23rd May 2017 Stronger commodity prices have resulted in an increase in the number of jobs in the coal exploration sector, with new data from the Queensland government revealing that employment in the sector had grown by more than 3 000 in the six months to November. “Coal mining jobs are up 9% to 22 000 and... 

Queensland coal mining jobs growing again

Base approves capital for KP2 mine plan

By: Esmarie Swanepoel     23rd May 2017 The board of mineral sands developer Base Resources has approved the $32.6-million capital spend to implement the Kwale Phase 2 (KP2) project, in Kenya. The objective of the KP2 project is to maximise the overall Kwale operation’s economic returns by implementing a solution to maintain maximum... 

Woodside to grow from own portfolio - Coleman

By: Esmarie Swanepoel     23rd May 2017 Oil and gas major Woodside has told investors that the company will generate increased cash flows and returns from its existing business and committed projects, focusing on low-cost brownfield developments. “Our portfolio offers exciting prospects for growing shareholder value that will coincide... 

Minister says S Australia plans magnetite strategy

By: Esmarie Swanepoel     23rd May 2017 The South Australian government has unveiled plans for a magnetite strategy, similar to its copper strategy, to unlock the 14-billion tonnes of ore present in the state. Minister for Mineral Resources and Energy Tom Koutsantonis said in Adelaide on Tuesday that the soon-to-be released magnetite... 

Siviour proves up for Renascor

By: Esmarie Swanepoel     23rd May 2017 A scoping study on the Siviour graphite deposit, in South Australia, has estimated that the project could produce some 123 000 t/y of graphite concentrate over a 20-year mine life. ASX-listed Renascor Resources on Tuesday noted that the project would require a capital investment of some... 

Chevron turns to High Court over ATO bill

By: Esmarie Swanepoel     23rd May 2017 US oil and gas major Chevron was seeking special leave to appeal a A$340-million tax bill in the Australian High Court. The Full Federal Court in April dismissed the company’s appeal of the Australian Taxation Office (ATO) bill, ruling that the US-based company had used an intra-company loan as... 

Volt secures Chinese partner for Tanzanian ore

By: Esmarie Swanepoel     23rd May 2017 Graphite developer Volt Resources has entered into a cooperation agreement with Chinese graphite group Aoyu Graphite Group, paving the way for the company to produce industrial size samples from its Namangale project, in Tanzania. Aoyu will process up to 100 t of Namangale ore in the third... 

Glencore predicts Opec insulated from electric vehicle impact

By: Reuters     23rd May 2017 Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet... 

Glencore predicts Opec insulated from electric vehicle impact
Glencore chairperson Tony Hayward

Avocet completes first closing on Tri-K project

By: Anine Kilian     22nd May 2017 West Africa-focused Avocet Mining completed the first closing of its Guinea-based Tri-K project. The company received a Presidential decree this month, formalising a mining convention for the project, paving the way for a partial sale to Morocco-based Managem. 

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