R/€ = 16.25 Change: 0.12
R/$ = 14.27 Change: 0.09
Au 1429.89 $/oz Change: 27.37
Pt 815.27 $/oz Change: 4.79

Mining News

Drilling at Armadale’s Mahenge Liandu yields positive results

By: Marleny Arnoldi     Updated 13 minutes ago Aim-listed Armadale Capital has announced “exceptionally” high-grade results from a drilling programme at its Mahenge Liandu graphite project, in Tanzania. A definitive feasibility study on the project is on track to be completed during the fourth quarter of this year.  

IronRidge strengthens confidence in Ewoyaa as a spodumene-dominant deposit

By: Marleny Arnoldi     Updated 18 minutes ago Aim-listed IronRidge Resources has concluded additional X-ray diffraction (XRD) analysis of metallurgical composites from its Ewoyaa project surrounds, in Ghana, which reaffirmed spodumene as the dominant lithium mineral phase within the Cape Coast lithium portfolio. IronRidge said that, with... 

Galantas shifting up a gear at Omagh

By: Creamer Media Reporter      Updated 19 minutes ago Listed gold developer Galantas Gold has accelerated mine development at its Omagh mine, in Northern Ireland, with good progress on the main decline tunnel and increased concentrate production. The company reported on Tuesday that the main decline tunnel had reached the fourth (1 060 m) level and... 

Continental announces Sprott investment, assay results

By: Mariaan Webb     Updated 1 hour 7 minutes ago Gold developer Continental Gold’s stock on the Toronto exchange received a boost on Monday, after the company announced its latest assay results for four diamond drill holes at the Buritica project, in Colombia, and said that Eric Sprott had invested $25-million in the company. Sprott agreed to... 

Wescoal prioritises steady-state production after challenging financial year

By: Marleny Arnoldi     Updated 1 hour 17 minutes ago Despite a turbulent second half in coal miner Wescoal’s financial year ended March 31, the company remains positive about achieving its ten-million-tonne run-of-mine (RoM) production target from the 2021 financial year. Until then, CEO Reginald Demana aims to get the miner’s current projects up... 

Wescoal prioritises steady-state production after challenging financial year
Wescoal CEO Reginald Demana

Kirkland launches online deal room for new projects

By: Mariaan Webb     Updated 1 hour 38 minutes ago Canada-headquartered Kirkland Lake has partnered technology firm VRIFY to establish a gold deal room, which will help the company attract, assess and refine investment opportunities. Announcing the launch of the VRIFY-developed platform on Monday, the miner’s president and CEO, Tony Makuch, said... 

Kari Pump discovery offers significant upside at Endeavour's Houndé mine

By: Creamer Media Reporter      Updated 2 hours 7 minutes ago The reserves at gold miner Endeavour Mining's flagship Houndé mine, in Burkina Faso, have increased by 41% as a large portion of the Kari Pump discovery's maiden measured and indicated resource was converted to reserves. The Kari Pump's maiden reserve is 7.3-million tonnes, at a grade of 3.01 g/t... 

Ardea to spin-out NSW assets

By: Esmarie Iannucci     Updated 2 hours 18 minutes ago Junior Ardea Resources will spin-out its Lachlan Fold Belt gold and base metal tenements, in New South Wales, into a new vehicle named Godolphin Resources. In an initial public offering (IPO), existing Ardea shareholders will receive an in-specie distribution of 30-million Godolphin vendor... 

Sheffield finds funding while Thunderbird work continues

By: Esmarie Iannucci     Updated 2 hours 20 minutes ago Mineral sands developer Sheffield Resources has mandated Taurus Mining Finance to provide a $10-million bridging finance facility. Sheffield earlier this month announced plans to update the bankable feasibility (BFS) study for its Thunderbird project, in Western Australia, looking at increasing... 

Piedmont adds to resource estimate in the US

By: Esmarie Iannucci     Updated 2 hours 21 minutes ago Lithium developer Piedmont Lithium has reported a 47% increase in the mineral resource estimate of its namesake project in North Carolina. Piedmont on Tuesday reported that the mineral resource estimate for the Core property had increased by 55% to 25.1-million tonnes, at grades of 1.09% lithium... 

BC grants New Gold’s Blackwater enviro certificate

By: Mariaan Webb     Updated 2 hours 30 minutes ago The Blackwater gold project that TSX-listed New Gold is proposing in British Columbia has been issued an environmental certificate by the provincial government. According to a British Columbia government’s media statement, the responsible Ministers are confident that the openpit gold and silver... 

Vital changes lanes into rare earths race

By: Esmarie Iannucci     Updated 2 hours 32 minutes ago ASX-listed Vital Metals on Tuesday unveiled plans to pursue rare earth oxide development through the acquisition of privately-held Cheetah Resources. Cheetah has agreements in place to acquire the Thor Lake and Wigu Hill rare earth oxide projects, in Canada and Tanzania respectively. 

Altura welcomes new investor

By: Esmarie Iannucci     Updated 2 hours 33 minutes ago Chinese firm Ningbo Shanshan Co has taken an 11.8% shareholding in ASX-listed lithium developer Altura Mining, after acquiring some 251-million shares in the company. Altura MD James Brown on Tuesday welcomed Shanshan to the registry, noting that the Chinese firm was one of the early movers in... 

Century expansion options outlined

By: Esmarie Iannucci     Updated 2 hours 34 minutes ago An expansion study at the Century zinc mine, in Queensland, has highlighted the potential for a mine life extension through to mid-2026, ASX-listed New Century Resources has reported. New Century is currently undertaking a tailings operation at the mine, which started in August last year, and is... 

MOD backs improved A$167m offer from Sandfire

By: Esmarie Iannucci     Updated 2 hours 37 minutes ago Copper miner Sandfire Resources has made an improved A$167-million takeover offer for Africa-focused copper developer MOD Resources. Under the offer agreement, each MOD shareholder could elect to receive either 45c in cash for each of their shares, capped at A$41.6-million or 25% of the overall... 

MOD backs improved A$167m offer from Sandfire

Omnia posts full-year loss on mix of negative drivers

By: Reuters     Updated 3 hours ago Omnia Holdings, a South African chemicals and fertiliser maker, reported a full-year loss on Tuesday as a volatile currency, droughts, changes in the mining industry and difficult global trading conditions dented its business. The company, which also produces explosives, posted a headline loss... 

Higher rand PGM basket price contributes to 80% jump in Amplats' interim headline earnings

By: Creamer Media Reporter      Updated 3 hours ago Platinum group metals (PGMs) miner Anglo American Platinum (Amplats) expects its headline earnings for the six months ended June 30 to be 80%, or R2.69-billion, higher year-on-year, mainly as a result of an increase in the rand PGM basket price. The company had reported headline earnings of... 

De Beers' rough diamond sales slow amid high diamond inventories

By: Creamer Media Reporter      Updated 3 hours ago A "more challenging" environment in China and higher than normal diamond inventories in the midstream contributed to more cautious diamond buying in De Beers' fifth sales cycle of the year, CEO Bruce Cleaver said on Tuesday. The value of De Beers' rough diamond sales decreased to $390-million in... 

Numsa underground strike at Lanxess in Rustenburg is 'illegal'

By: African News Agency      Updated 4 hours ago The ongoing underground strike by members of the National Union of Metalworkers of South Africa (Numsa) at Lanxess Chrome Mine (LCM) in Rustenburg was illegal, the mine said on Monday. "The strike has been declared illegal by a Johannesburg court but is ongoing. The main focus of LCM is currently... 

Solidarity says court's ruling against AMCU agency fee at Lonmin is victory for workers

By: African News Agency      Updated 4 hours ago Solidarity said in a statement on Thursday it was pleased that the courts had ruled against AMCU’s agency fee agreement with Lonmin at its Marikana operations. Solidarity said that a coalition between itself, UASA and the NUM succeeded to obtain an urgent interdict against AMCU’s agreement with... 

Ivanhoe progresses with road to airport from Kamoa project

By: Marleny Arnoldi     24th June 2019 Canada-headquartered Ivanhoe Mines says construction of the highway linking its Kamoa-Kakula copper project to the Kolwezi airport, in the Democratic Republic of Congo (DRC), is progressing rapidly with the onset of the country’s dry season. The 34-km-long east–west road is about 25% complete... 

Volt secures $1m working capital for Bunyu project’s development

By: Simone Liedtke     24th June 2019 Tanzania-focused flake graphite development company Volt Resources has secured $1-million in working capital funding for the development of its Bunyu graphite project, in Tanzania. The funding includes $300 000 raised through the placement of just over 20.8-million shares at 2.1c a share, and a... 

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     24th June 2019 Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

Pleasing Orion bankable points to fast project payback
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Rio Tinto starts drilling at Broadway’s Madison

By: Creamer Media Reporter      24th June 2019 Kennecott Exploration, part of the Rio Tinto Group, has started with a drilling campaign at TSX-V-listed Broadway Gold Mining’s Madison copper/gold project, in the Butte region of Montana, in the US. The initial drilling programme consists of three drill holes targeting an area displaying... 

Kibo mulls renewables cogeneration opportunities 

By: Simone Liedtke     24th June 2019 In line with its strategy of incorporating long-term renewable energy solutions into its existing coal power projects, Africa-focused Kibo Energy has signed a collaboration agreement with ESS Tech to develop suitable baseload electricity storage solutions. Having recognised the increasing need to... 

Detour says COO Bourchier tenders resignation

By: Mariaan Webb     24th June 2019 Canadian miner Detour Gold on Monday announced that its COO, Frazer Bourchier, and its VP for investor relations, Laurie Gaborit, had resigned their positions and that they would leave the company at the end of the month. The resignations would cost the gold mining company about C$4.5-million and... 

Chantrell has until Thursday to match Agnico’s offer for Alexandria

By: Creamer Media Reporter      24th June 2019 Toronto-headquartered Chantrell Ventures has until 23:59 on Thursday to amend its offer for junior gold miner and explorer Alexandria Minerals to match that of NYSE- and TSX-listed Agnico Eagle Mines. The board of directors of Alexandria has determined that the Agnico offer – announced nearly two... 

Capstone restarts Pinto Valley ops

By: Creamer Media Reporter      24th June 2019 The Pinto Valley copper mine, 125 km from Phoenix, Arizona, has been safety restarted, following last week’s fire that led to a curtailment of operations. The mine site did not sustain any physical damage during the Woodbury fire, which by Sunday morning had ballooned to more than 96 000 acres... 

China's CNMC agrees to work on Madagascar rare earth project

By: Reuters     24th June 2019 A unit of China Nonferrous Metal Mining Group (CNMC) said on Monday it had signed a non-binding memorandum with Singapore-listed ISR Capital that could see the Chinese firm work as a contractor on a rare earths project in Madagascar with rights to purchase products. China Nonferrous Metal... 

Nigerian court adjourns Oando case against securities regulator to 22 July

By: Reuters     24th June 2019 A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial... 

Resgen says final member confirms participation in lending syndicate for Boikarabelo

By: African News Agency      24th June 2019 Energy resources firm Resource Generation (Resgen), which is listed on the ASX and the JSE, on Monday said the third and final member of the proposed lending syndicate for the construction of its Boikarabelo mine in South Africa had confirmed its participation in writing. It said the combined... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal 

By: Simone Liedtke     24th June 2019 LSE-listed Acacia Mining says it “strongly disagrees” with a number of matters set out in a recent announcement by parent company Barrick Gold, adding that the announcement “appears to have ignored the value of [Acacia’s] portfolio of exploration and development assets, and the strategic value of... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal
Photo by Bloomberg
Barrick Gold CEO Mark Bristow

Eramet needs €1bn Gabon expansion, Argentina lithium mine

By: Mariaan Webb     24th June 2019 French multinational mining and metals firm Eramet is searching for more than €1-billion in financing to fund an expansion of its manganese mine in Gabon, and to build a new lithium mine in Argentina. The company plans to raise its manganese ore production capacity from 4.3-million tons a year... 

Galileo increases stake in Star Zinc project

By: Simone Liedtke     24th June 2019 Aim-listed Galileo Resources has acquired the remaining Kabwe residual rights, including the Kashitu zinc willemite exploration prospect, as well as exercised its right to acquire a further 15% interest in Enviro Zambia from BMR Group for 9.6-million Galileo shares. Enviro Zambia owns 95% of... 

India plans incentives for oil, natural gas E&P investors

By: Ajoy K Das     24th June 2019 The Indian government is planning to frame an incentive policy for oil and natural gas exploration and production (E&P) companies. The new policy will incorporate some of the financial incentives discontinued earlier, and the sops extended to E&P companies, even if they fail to bring exploratory... 

ONGC to outsource discovered small oil, gas fields while retaining ownership

By: Ajoy K Das     24th June 2019 In a bid to circumvent government plans to take away its discovered small fields (DSFs), national oil and natural gas exploration and production (E&P) major ONGC has decided to auction such assets under production enhancement contracts, while retaining ownership with itself. Company sources said... 

AVZ increases Manono stake

By: Esmarie Iannucci     24th June 2019 ASX-listed AVZ Minerals has struck a $5.5-million deal to acquire an additional 5% interest in the Manono lithium and tin project, in the Democratic Republic of Congo (DRC). AVZ on Monday announced that it would acquire an additional 5% interest in Manono from joint venture partner Dathomir... 

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