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Sierra Metals reports flat Q4 Ebitda, production increases

By: Marleny Arnoldi     15th February 2019 TSX- and Peru-listed Sierra Metals reported adjusted earnings before interest, taxes, depreciation and amortisation of $17.4-million for the fourth quarter of 2018, compared with $17.5-million in the fourth quarter of 2017. The company processed 268 363 t, compared with 254 993 t processed in... 

Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Centamin announces significant resource increase at Côte d'Ivoire projects

By: Simone Liedtke     15th February 2019 A 120 000 m drill programme in 2018 across dual-listed Centamin’s wholly-owned landholdings in Côte d'Ivoire, has resulted in an increase of more than 100% in mineral resources, the company announced on Friday. A maiden resource has been declared at the ABC project, on the west side of the... 

Premier agrees to amended terms for KME acquisition, welcomes Ministry’s financial assistance

By: Simone Liedtke     14th February 2019 The board of Aim-listed Premier African Minerals has agreed to amended terms with KME Holdings for the proposed acquisition of KME’s assets and has, in addition, agreed to terms for the acquisition of 50% of the equity in the Zimbabwe-based near-term gold producer Honey Badger Resources (HBR).... 

Resources Watch  

14th February 2019 Working together can deliver mining’s massive benefits; De Beers to spend R30m on diamond exploration this year; and, Ramaphosa challenges mining to take ten value-adding steps 

India hands over national oil company assets to private investors

By: Ajoy K Das     14th February 2019 Finally overruling strident opposition, the Indian government has approved taking away smaller discovered oil and natural gas blocks of its national oil exploration and production (E&P) majors and allocating them to private investors through auctions. The move, criticised by a section in... 

Jan Steenkamp appointed MD of Kropz’s Elandsfontein phosphate mine

By: Marleny Arnoldi     14th February 2019 Aim-listed emerging phosphate producer Kropz has appointed Jan Steenkamp MD of the company’s 74%-owned Elandsfontein project, in South Africa’s Western Cape province. Steenkamp is a South African mining industry veteran and has managed mining operations across a number of commodities. He also... 

Bristow snaps into fast action wearing Barrick crown 

By: Martin Creamer     13th February 2019 Dr Mark Bristow has snapped into fast action wearing the Barrick crown. His Randgold Resources, which now falls under the Barrick Gold umbrella, on Wednesday bowed out with panache when it declared a 35% dividend increase to $2.69 a share, buoyed by record production of 807 000 oz of gold at the... 

Total Announces Ground-breaking Oil Discovery 175km Off the Southern Coast of South Africa

By: Creamer Media Reporter      13th February 2019 The recent gas condensate discovery by Total South Africa, 175km off the southern coast of South Africa, has set the stage for a significant contribution to the nation’s economic development as it will assist in reducing dependency on imports of oil and gas, notwithstanding the considerable... 

Federal govt flags funding for critical minerals

By: Esmarie Iannucci     13th February 2019 The resources sector has welcomed the federal government’s decision to prioritise Cooperative Research Center Project (CRC-P) grants for critical minerals such as lithium, cobalt and titanium. Industry, Science and Technology Minister Karen Andrews said on Wednesday that for the first time,... 

Bacanora sees busy six months ahead with Zinnwald study, Sonora financing

By: Mariaan Webb     13th February 2019 London-listed lithium exploration and development company Bacanora Lithium CEO Peter Secker said on Wednesday that the company is in for a busy six months, as it works to finalise the funding package for its Sonora project, in Mexico, and complete a feasibility study for the Zinnwald project, in... 

BHP approves $696m for Gulf of Mexico expansion

By: Esmarie Iannucci     13th February 2019 Mining major BHP on Wednesday approved $696-million in funding to develop the Atlantis Phase 3 project, in the Gulf of Mexico, after project partner BP in January approved a $1.3-billion expansion of the project. The Atlantis Phase 3 development will include the construction of a new subsea... 

Jemena wins licence for 40 TJ/d gas plant

By: Esmarie Iannucci     13th February 2019 The Queensland government has issued infrastructure provider Jemena a licence to start construction of a domestic-only gas processing plant. The plant is part of Jemena’s A$140-million Atlas gas pipeline project, which will create 150 jobs and connect Project Atlas to the Wallumbilla Gas Hub in... 

Alaska mine boosts Northern Star financials

By: Esmarie Iannucci     13th February 2019 Gold miner Northern Star has reported increased revenue and profit for the half-year ended December on the back of the acquisition of the Pogo gold mine, in Alaska. Revenue for the six months under review was reported at A$633.5-million, up 43% on the previous corresponding period, while... 

Noncash items brings down Evolution H1 profit

By: Esmarie Iannucci     13th February 2019 Gold miner Evolution Mining is expecting a stronger financial result in the second half of the 2019 financial year, after reporting a 26% fall in after-tax net profit during the six months to December. Evolution on Wednesday reported a net profit of A$91.1-million, compared with the... 

Harmony exploring Target North, Kalgold 

By: Martin Creamer     12th February 2019 Harmony Gold is currently adjudicating a tender for the drilling of the Target North greenfield exploration project in the Free State and is engaged in near mine brownfield exploration at Kalgold in the North West. Harmony Gold CEO Peter Steenkamp on Tuesday described the Target North prospect as... 

Probe drilling confirms Val-d’Or expansion, new discoveries

By: Simone Liedtke     12th February 2019 Canadian gold exploration company Probe Metals on Tuesday reported new results from the 2018 drill programme on the Val-d’Or East Courvan property area, in Quebec, which identified both new discoveries, as well as confirmed significant expansion of previous discoveries north and west of the... 

Harmony cuts energy consumption, ushering in solar, mulling biofuels  

By: Martin Creamer     12th February 2019 Gold mining and exploration company Harmony Gold is intensifying its efforts to cut electricity consumption to a minimum while also looking at introducing solar power and biofuel energy. CEO Peter Steenkamp said on Tuesday when the company issued its half-year results that Eskom’s problems could... 

Harmony’s Steenkamp rising to President Ramaphosa’s ten-point challenge  

By: Martin Creamer     12th February 2019 Harmony Gold CEO Peter Steenkamp is rising to President Cyril Ramaphosa’s ten point mining challenge by striving to pay meaningful social dividends across a broad front and answering the call to beneficiate, which is no mean feat when it comes to gold. The executive head of the million-ounce-plus... 

Roxgold snaps up Newcrest’s Séguéla project

By: Esmarie Iannucci     12th February 2019 Gold miner Newcrest Mining has struck a deal with TSX-listed Roxgold to divest of its Séguéla project and regional exploration tenements, in Cote d’Ivoire, in a deal valued at $30-million. “Following a strategic review, we are pleased to announce the sale of the Séguéla project to Roxgold. This... 

Rothsay expected to deliver more gold

By: Esmarie Iannucci     12th February 2019 An updated definitive feasibility study (DFS) on the Rothsay gold project, in Western Australia, has increased the project’s projected gold production from 250 000 oz to 289 000 oz. ASX-listed EganStreet Resources on Tuesday told shareholders that the forecast increase in production, which came... 

Great Panther shareholders OK Beadell acquisition

By: Mariaan Webb     11th February 2019 The $105-million all-scrip acquisition of Beadell Resources by Great Panther ticked a key box on Monday, as shareholders of the TSX-listed miner approved the transaction. Shareholders in Beadell, which has a listing on the ASX, will meet in Perth on Tuesday and should they approve the... 

Altus vends Cameroon bauxite JV to Canyon

By: Tasneem Bulbulia     11th February 2019 Dual-listed, Africa-focused Altus Strategies has signed a joint venture (JV) termination agreement and a sale and purchase agreement with its JV partner in Cameroon, ASX-listed Canyon Resources. Under the terms of the agreements, Canyon will take ownership of Altus’ Aucam Resources subsidiary,... 

Xtract concludes MoA to explore for copper/gold resource in Zambia

By: Tasneem Bulbulia     11th February 2019 Xtract Resources on Monday concluded a memorandum of agreement (MoA) with an unnamed consortium to jointly undertake exploration works on a small-scale copper/gold mining licence, in Zambia. The parties hope to identify a copper/gold resource at the licence within 24 months. 

Semafo mulls Savary Gold shares purchase

By: Simone Liedtke     11th February 2019 TSX-listed gold miner Semafo and TSX-V-listed Savary Gold have entered into a nonbinding letter of intent (LoI) contemplating the acquisition by Semafo of all the outstanding common shares of Savary. Under the terms of the LoI, all the issued and outstanding Savary shares will be exchanged on the... 

Bonterra moves HQ to Val D’Or

By: Creamer Media Reporter      11th February 2019 Gold explorer Bonterra Resources has announced that its corporate headquarters will move from Vancouver, British Columbia, to Val D’Or, Quebec, to bring its management closer to its main projects in the Urban Barry Camp. Chairperson and interim CEO Greg Gibson said on Monday that combining... 

Metal Tiger raises funds to support exploration in Botswana

By: Tasneem Bulbulia     11th February 2019 Aim-listed Metal Tiger on Monday announced the placing of 70.01-million shares, at a price of 1.45p each, with new and existing investors to raise gross proceeds of about £1-million. In addition to the placing, Metal Tiger also announced that it has signed a nonbinding term sheet with Sprott... 

Semafo forecasts 68% production increase for 2019

By: Nadine James     8th February 2019 TSX-listed West Africa-focused gold miner Semafo produced 244 600 oz of gold at its Boungou and Mana mines, in Burkina Faso, in 2018 – in line with its guidance of producing 235 000 oz to 265 000 oz. The company achieved a consolidated all-in sustaining cost (AISC) of $951/oz for the year. 

Katoro issues shares to settle fees, creates option for management

By: Nadine James     8th February 2019 Aim-listed Tanzania-focused gold exploration company Katoro Gold on Friday announced the issue of options to its board of directors and the company’s management, as well as the settlement of certain fees through the issue of new ordinary shares. The board has resolved to issue 14.94-million new... 

On-The-Air (08/02/2019) 

By: Martin Creamer     8th February 2019 The Mining Indaba has become a budding United Nations of Africa that is singing off the same hymn sheet to build a better continent. De Beers stole the Mining Indaba show by announcing a R30-million investment in diamond exploration in South Africa. Gold mining companies that destroy Africa’s... 

Wallbridge reports positive results from Fenelon bulk sample

By: Creamer Media Reporter      8th February 2019 TSX-listed Wallbridge Mining reported on Thursday that it has produced and sold more than 13 300 oz of gold from the 35 000 t bulk sample under way at its Fenelon gold project, in Quebec. To date, about 25 000 t of ore with a reconciled average grade of 17.34 g/t gold containing more than 14 000... 

Indiana looks at Mali JV with Altus

By: Esmarie Iannucci     8th February 2019 Junior Indiana Resources has signed a nonbinding term sheet to form a joint venture (JV) with Aim- and TSX-listed Altus Strategies for exploration licences in the Mali gold belt. Under the terms of the agreement, Indiana could earn an 85% interest in the Lakanfla and Tabakarole gold projects, in... 

Indiana Resources enters into JV with Altus for majority stake in Mali gold projects

By: Nadine James     7th February 2019 Aim-listed exploration company Altus Strategies on Thursday announced that it has signed a nonbinding term sheet for a joint venture (JV) with ASX-listed Indiana Resources. Subject to entering into a definitive agreement with Altus, Indiana will have the option to earn up to an 85% interest in... 

Total makes significant discovery off South Africa’s southern coast

By: Nadine James     7th February 2019 Petroleum company Total has made a significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, the company announced on Thursday. Located 175 km off the southern coast of South Africa, the Brulpadda well encountered 57 m of net gas condensate... 

Trilogy, South32 up exploration budget for Alaska projects

By: Creamer Media Reporter      7th February 2019 Vancouver-based explorer Trilogy Metals has increased the exploration budget for its Upper Kobuk Mineral Projects (UKMP), after its partner South32 agreed to equally fund an exploration programme along the Ambler volcanogenic massive sulphide (VMS) belt in north-west Alaska. The partners have... 

Total Makes Significant Discovery And Opens A New Petroleum Province Offshore South Africa

7th February 2019 Total has made a significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. The Brulpadda well encountered 57 meters of net gas condensate pay in Lower Cretaceous reservoirs. Following... 

Namibia Critical Metals signs deal for Kunene small-scale mining initiative

By: Natasha Odendaal     7th February 2019 TSX-V-listed Namibia Critical Metals has signed a deal with a private, undisclosed Namibia-based group for the development of a small-scale manganese mine at its wholly-owned subsidiary Kunene Resources Namibia’s operations. The agreement allows the local Namibian group to produce manganese... 

Intermin gains back Menzies and Goongarrie

By: Esmarie Iannucci     7th February 2019 ASX-listed Intermin Resources has struck a settlement agreement with the administrators of Eastern Goldfields over the Menzies and Goongarrie farm-in joint venture projects in Western Australia. The settlement would see both the Menzies and Goongarrie projects return to the full ownership of... 

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