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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... 

Advisian engages with clients to create greater value

     22nd July 2016 The South African operation of WorleyParsons’ global consulting business, Advisian, has experienced notable growth since its launch less than a year ago with its initial office of five members expanding to close to 100 in an effort to service the needs of clients and deliver expert strategic and... 

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,... 

A GEA solution for Delta Beverages’ Sorghum Brewery in Zimbabwe

     22nd July 2016 Delta Beverages’ Fairbridge Brewery in Bulawayo has undergone an extensive upgrade to turn it into a modern facility with state of the art brewing and packaging technologies.  Delta wanted to offer their customers the new and improved type of Sorghum or Chibuku Beer called Chibuku Super, which... 

Property Point gives green innovators a chance

     22nd July 2016 Linking budding entrepreneurs with green building leaders at the 2016 Green Building Convention, Property Point is enhancing green innovation in South Africa while providing SMEs with an opportunity to further develop their own businesses. Property Point, a Growthpoint Properties initiative, has... 

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... 

Acacia could exceed FY output target following strong Q2

By: Creamer Media Reporter      22nd July 2016 Following a strong second-quarter performance, LSE-listed Acacia Mining expects its production for the full-year to reach or exceed guidance of 750 000 oz to 780 000 oz. It also expects its full-year all-in sustaining costs (AISC) to come in at the lower end of guidance of $950/oz to $980/oz. 

Mount Gibson cash pile swells to A$400m

By: Megan van Wyngaardt     22nd July 2016 Iron-ore miner Mount Gibson’s cash balance of A$400-million at the end of June has placed the company in a strong position to progress its Extension Hill project and to mull over redevelopment alternatives at Koolan Island, while continuing its pursuit of other resources investments. The cash... 

Santos half-year production hits record

By: Mariaan Webb     22nd July 2016 Oil and gas company Santos produced a record 31.1-million barrels of oil equivalent in the first half of 2016 and significantly boosted its sales volumes, but a 29% decrease in the average realised oil price has dented its revenue. Santos increased its production by 10% year-on-year in the first... 

Kootenay to proceed with 3 000 m drilling programme at La Cigarra

By: Samantha Herbst     22nd July 2016 With drill permits now in place, preparations for the 3 000 m drilling programme at Canadian explorer Kootenay’s 100%-owned La Cigarra silver project, in Chihuahua State, Mexico, are well under way, with expectations that drilling will commence on or by August 1. The TSX-V-listed company noted on... 

Enirgi Group and Lithium S to explore, develop in Argentina

By: Anine Kilian     22nd July 2016 Specialty chemicals company Enirgi Group Corporation and lithium exploration company Lithium S Corporation have entered into a Memorandum of Understanding (MoU) that details a strategic collaboration to explore and develop lithium projects in northern Argentina. Following a successful capital... 

Rosatom, partners to trial small hydropower plant at Lonmin site

By: Anine Kilian     22nd July 2016 Russian nuclear giant Rosatom will begin work on a $40-million 2 MW hydropower plant for South African platinum producer Lonmin in August. It will be the first time this type of technology is used in a mining application in South Africa. 

Prominent Hill bounces back, Oz Minerals to meet FY guidance

By: Mariaan Webb     22nd July 2016 South Australian copper and gold miner Oz Minerals has maintained its full-year production guidance, despite losing about 10% of its plant availability in the June quarter owing to unplanned repairs. The Prominent Hill mine produced 27 350 t of copper in concentrate and 30 099 oz of gold in... 

Dynasty workers resume activity at Zaruma

By: Megan van Wyngaardt     22nd July 2016 Workers at TSX-listed Dynasty Metals & Mining subsidiary Elipe’s Zaruma mine will return to work and continue mining activities, following an agreement reached this week. In April, an unexpected walkout by workers at the gold mine in Ecuador resulted in the temporary suspension of all activities... 

Bligh to raise funds for exploration, names new MD and CEO-elect

By: Megan van Wyngaardt     22nd July 2016 Gold developer Bligh Resources on Friday announced an underwritten capital raising of $1.7-million to fund exploration opportunities in the Leonora area of Western Australia. The Sydney-based company appointed Somers & Partners to underwrite the capital raising, the proceeds of which will be used... 

Lincoln keen to complete Kookaburra Gully PEPR by year-end

By: Megan van Wyngaardt     22nd July 2016 ASX-listed Lincoln Minerals is hoping to emerge next year as a supplier of graphite to global markets, with its flagship Kookaburra Gully graphite project, on South Australia’s Eyre Peninsula steaming ahead. The company recently received a mineral lease for the mine from the South Australian... 

Black Rock marketing graphite to new markets

By: Megan van Wyngaardt     22nd July 2016 Tanzania-focused graphite company Black Rock Mining has stepped up its offtake marketing activities, engaging potential offtake partners and presenting the company’s value proposition as a secure and reliable alternative source of high purity graphite for various applications. Marketing manager... 

Anglo Pacific’s H1 sales beat previously guided range by about 20%

By: Samantha Herbst     22nd July 2016 Half-year sales from dual-listed royalty company Anglo Pacific Group’s private royalty lands are expected to be in the range of 35% to 40%, the group announced earlier this week, after receiving notification from British-Australian multinational Rio Tinto of the invoiced payable tons for the... 

Centerra closes C$195-million bought deal offering

By: Creamer Media Reporter      22nd July 2016 Canadian gold miner Centerra Gold has closed its previously announced C$195-million bought deal offering of subscription receipts, the net proceeds of which will be used to partially fund the redemption of the secured and unsecured notes of the Thompson Creek Metals Company, in connection with... 

Australia’s corporate watchdog continues Continental Coal probe

By: Mariaan Webb     22nd July 2016 The investigation of the Australian Securities and Investment Commission (Asic) into the affairs of Western Australia-based, but former South Africa-focused developer Continental Coal, is continuing, with the corporate watchdog announcing that it has secured further asset-freezing orders. Asic... 

AngloGold swings to H1 profit amid higher gold price, weaker currencies

By: Creamer Media Reporter      22nd July 2016 A higher gold price and weaker currencies have contributed to AngloGold Ashanti swinging back into profit for the six months ended June 30. The gold miner, led by CEO Srinivasan Venkatakrishnan, expects to report headline earnings of between $87-million and $99-million and headline earnings a... 

Edenville holds ‘constructive’ meetings with Tanzanian authorities

By: Creamer Media Reporter      22nd July 2016 Aim-listed Edenville Energy this week held “constructive” meetings with senior representatives of the Tanzania Ministry of Energy and Minerals (MEM) and the Tanzania Electric Supply Company (Tanesco) to discuss the next steps for Edenville to progress its Rukwa coal-to-power project. The meetings... 

Arrium iron-ore mines get A$49m loan for machinery

By: Mariaan Webb     22nd July 2016 The Australian government will provide a loan to collapsed South Australian company Arrium to support its iron-ore business and give its cash flow a boost. Prime Minister Malcolm Turnbull on Friday confirmed that the Export Finance and Insurance Corporation would provide a A$49.2-million loan,... 

‘New class of gold investor’ may emerge amid global uncertainties

By: Dylan Slater     22nd July 2016 The World Gold Council (WGC) believes that an “entirely new class of gold investor” could emerge because of the significant global increase in the interest in gold stocks, following the Brexit vote – the British exit from the European Union (EU). “As a high-quality, liquid asset, we believe gold... 

South Africa waking up to entrepreneurship, but coordinated strategy still lacking

By: Mia Breytenbach     22nd July 2016 Amid fiscal constraints, political uncertainties and extremely weak economic growth, South Africa is finally placing increasing emphasis on enterprise development and cultivating an entrepreneurship culture. Epitomising this shift in emphasis, Small Business Development Minister Lindiwe Zulu said... 

Africa’s brightest youth brainstorm solutions to socioeconomic challenges 

By: David Oliveira     22nd July 2016 One hundred of Africa’s most innovative youth gathered at the Brightest Young Minds (BYM) 2016 summit, held in Johannesburg last month, to discuss and find innovative solutions for Africa’s socioeconomic challenges. “BYM is a nonprofit public-benefit organisation aimed at providing a platform for... 

ANC should lose August elections – but will it? 

By: Aubrey Matshiqi     22nd July 2016 The local government elections are upon us. And if things go according to the predictions of political commentators such as yours truly, as well as the number of violent protests we have seen around the country over the past few months, the African National congress (ANC) is in deep trouble. It... 

Greenpeace International executive director visits Africa for the first time

By: David Oliveira     22nd July 2016 Greenpeace International executive director Bunny McDiarmid visited the Greenpeace Africa office in Johannesburg, earlier this month, to show solidarity and gain further insight into the key issues. The visit was McDiarmid’s first to Africa since taking office in April. 

South Africa waking up to entrepreneurship, but coordinated strategy still lacking

By: Mia Breytenbach     22nd July 2016 Amid fiscal constraints political uncertainties and extremely weak economic growth, South Africa is finally placing increasing emphasis on enterprise development and cultivating an entrepreneurship culture. Epitomising this shift in emphasis, Small Business Development Minister Lindiwe Zulu has... 

Training courses improve engineering skills, businesses and future stability

By: Sascha Solomons     22nd July 2016 South African Energy and Water Skills Education Training Authority-accredited training provider Terra Firma Academy believes that South Africa’s commitment to reducing carbon emissions and its intention to provide a sustainable energy and water supply can be supported through appropriate short... 

Hochschild ups guidance on back of strong quarter

By: Megan van Wyngaardt     21st July 2016 LSE-listed precious metals miner Hochschild Mining is raising its full-year production guidance by 6% to 34-million silver equivalent ounces, owing to attributable production in the second quarter exceeding expectations. The company’s operations produced 4.5-million ounces of silver and 67 000 oz... 

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