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Mining News

Cochilco holds 2019 copper forecast at $3.05/lb

By: Reuters 18th April 2019 Chile's Cochilco State copper commission on Thursday held its estimate for the price of copper at $3.05/lb, rising slightly to $3.08 for 2020 on improving prospects for growth in China. Cochilco said it saw production in Chile, the world´s top copper producer, at 5.96-million tonnes for 2019 and... →

Roxgold to start drilling at newly acquired Séguéla

By: Marleny Arnoldi 18th April 2019 TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth... →

Orion reawakening geological giant in Northern Cape

By: Martin Creamer 18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... →

Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

Petra recovers 209.9 ct diamond at Cullinan

By: Creamer Media Reporter 18th April 2019 Petra Diamonds on Friday recovered a 209.9 ct D-colour Type II gem-quality diamond at its Cullinan diamond mine, in South Africa. This is the third Type II D-colour gem-quality diamond weighing more than 100 ct recovered since March and the fourth such diamond recovered in the current financial... →

Barrick's quarterly performance in line with operating plan

By: Mariaan Webb 18th April 2019 Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating... →

TomaGold spin-out Monster Lake takes option over property

By: Creamer Media Reporter 18th April 2019 TSX-V-listed TomaGold’s proposed spin-out Monster Exploration has entered into a share purchase option agreement to acquire an option over the Philibert property, 10 km south-east of its Monster Lake property in Quebec's Chibougamau mining camp. Pursuant to the agreement, Monster has the right... →

Gen Mining interested in Sibanye’s Marathon PGMs deposit

By: Mariaan Webb 18th April 2019 Minerals exploration company Generation Mining has struck an agreement to potentially earn up to 80% in Sibanye-Stillwater’s Marathon platinum group metals deposit in northern Ontario. Gen Mining has signed a letter of intent with Sibanye to earn an initial 51% interest in the property, which... →

LME ready to address flaws in its metal storage rules

By: Reuters 18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... →

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke 18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... →

Sasol reports stabilisation in synfuels output

By: Terence Creamer 18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... →

Mantashe, Oliphant welcome end to Sibanye-Stillwater gold strike

By: Simone Liedtke 18th April 2019 Mineral Resources Minister Gwede Mantashe and Labour Minister Mildred Oliphant have welcomed the end of the Association of Mineworkers and Construction Union’s five-month strike at Sibanye-Stillwater’s gold operations. The parties announced the resolution of their differences on Wednesday. →

Polymetal reports big jump in production

By: Creamer Media Reporter 18th April 2019 Russian gold and silver producer Polymetal on Thursday reported a 27% year-on-year increase in first-quarter gold-equivalent (GE) production, on the back of a strong performance from its Kyzyl mine and steady operational performance at its other mines. GE production increased to 374 000 oz. Gold... →

Shanta achieves strong first-quarter performance

By: Tasneem Bulbulia 18th April 2019 East Africa-focused gold producer Shanta Gold had a strong start to 2019 – with the quarter ended March 31 having been its best opening quarter in three years in terms of production. Its costs were also well below guidance. →

Weednanna proves promising for Alliance

By: Esmarie Iannucci 18th April 2019 The Weednanna gold project, in South Australia, would likely require a capital investment of some A$44.4-million, a scoping study has found ASX-listed Alliance Resources on Thursday said that the scoping study, based on a 250 000 t/y gold processing plant and tailings storage facility, had... →

St Barbara books solid quarter

By: Esmarie Iannucci 18th April 2019 Gold miner St Barbara has revised its production forecast at both its Gwalia and Simberi operations, in Western Australia and Papua New Guinea respectively. The ASX-listed miner was now expecting Gwalia to produce between 235 000 oz and 240 000 oz in the full 2019, compared with the previous... →

Sandfire ups outlook for 2019

By: Esmarie Iannucci 18th April 2019 Copper/gold miner Sandfire Resources has reported another strong quarter at its DeGrussa mine, in Western Australia. Copper production in the three months to March reached 16 062 t, which was on par with the 16 888 t produced in the previous quarter, while gold production also remained stable at... →

Resolute inks new mining convention in Mali

By: Esmarie Iannucci 18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... →

Galaxy fails to find JV partner for Sal de Vida

By: Esmarie Iannucci 18th April 2019 The share price of lithium miner Galaxy Resources fell by nearly 12% on Thursday after the company announced that it would close the joint venture (JV) process for its Sal de Vida project, without a deal. Through the second half of 2018 and early 2019, Galaxy conducted an evaluation of strategic... →

Fortescue takes a hit from Veronica

By: Esmarie Iannucci 18th April 2019 Iron-ore major Fortescue Metals has tightened its full year export guidance following Tropical Cyclone Veronica, in late March. The company on Thursday reported that the wet weather conditions resulted in the loss of five days of shipments, equating to some 2.5-million tonnes during the three... →

South32 coking coal output down 37%, energy coal hit by community protests

By: Esmarie Iannucci 18th April 2019 Diversified miner South32 has lowered its energy coal and alumina production expectations for the full year, following a tough March quarter. Energy coal production for the quarter declined by 1% on the previous quarter, to 6.3-million tonnes, while metallurgical coal production was down 37% to... →

South32 CEO Graham Kerr

A$1bn Winchester South coal project to boost Queensland jobs

By: Esmarie Iannucci 18th April 2019 The A$1-billion Winchester South metallurgical coal project has been declared a Coordinated Project by the Queensland government’s independent Coordinator-General. The opencut mine, which will have a targeted run-of-mine production rate of 15-million tonnes a year of high-quality metallurgical... →

Woodside holds firm in the March quarter

By: Esmarie Iannucci 18th April 2019 Oil and gas major Woodside has reported steady production in the three months to March, compared with the previous corresponding period, with revenues rising 4%. Woodside on Thursday reported a production of 21.7-million barrels of oil equivalent, compared with the 22.1-million barrels in the... →

Majority of B2Gold’s mines outperform guidance in strong first quarter

By: Nadine James 18th April 2019 TSX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold. The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines,... →

Capital Drilling poised to meet growing demand for drilling services

By: Tasneem Bulbulia 18th April 2019 Africa-focused Capital Drilling continues to be well positioned for an anticipated uplift in demand, especially in West Africa. “At this early stage of the year, we have already seen some encouraging signs in the market, with robust metals prices, particularly gold, and improving capital markets. →

Wray to succeed Sam Coetzer as Golden Star CEO

By: Simone Liedtke 18th April 2019 TSX- and NYSE-listed Golden Star Resources on Thursday announced that Sam Coetzer will be leaving the company on April 30, and that Andrew Wray has been appointed as president and CEO, effective May 1. Golden Star chairperson Tim Baker said Wray “combines significant experience in the sector with... →

Glencore’s Jeff Gerard appointed Katanga CEO

By: Simone Liedtke 18th April 2019 TSX-listed Katanga Mining, a unit of Glencore, on Thursday announced that Glencore International’s Jeff Gerard would succeed Danny Callow as CEO of the company, effective May 2. Gerard’s appointment follows the signing of a management services agreement between Katanga and Glencore in January.... →

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke 18th April 2019 Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. →

Sherritt sees no impact as Trump lifts ban on lawsuits against foreign firms in Cuba

By: Reuters 18th April 2019 Canadian miner Sherritt International will not be materially impacted by the Trump administration's decision to allow lawsuits in US courts against foreign firms in Cuba, the Canadian mining firm said on Wednesday. The Trump administration will allow lawsuits in US courts for the first time... →

US President Donald Trump

Green economy good news for copper producers – Antofagasta chairman

By: Reuters 18th April 2019 The global fight against climate change will boost demand for copper, a key metal used in the production of electric vehicles, Antofagasta chairperson Jean-Paul Luksic said on Wednesday. Luksic, speaking to reporters at Antofagasta's Los Pelambres mine in north-central Chile, said the global... →

NGEx to separate Argentina and Chile projects with spin-out

By: Mariaan Webb 18th April 2019 Vancouver-based copper/gold explorer and developer NGEx Resources has announced that it will spin out its Los Helados project, in Chile, into a wholly-owned subsidiary, Spinco, to allow it to focus on the more advanced Josemaría project, in Argentina, which is now advancing to the feasibility... →

Hudbay says largest shareholder to vote for its nominees

By: Mariaan Webb 18th April 2019 TSX- and NYSE-listed Hudbay Minerals said on Wednesday that its largest shareholder, Letko, Brosseau & Associates, had confirmed that it would vote for the company's director nominees at the upcoming shareholders meeting. Letko, Brosseau & Associates exercises investment control or direction... →

Stornoway names new CFO

By: Creamer Media Reporter 18th April 2019 TSX-listed Stornoway Diamond Corporation has a new CFO. Dino Rambidis, who Stornoway describes as a seasoned leader with extensive financial experience, has replaced Orin Baranowsky with immediate effect. →

Goldcorp and Newmont successfully create gold behemoth

By: Creamer Media Reporter 18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... →

Mining sector’s pursuit of ‘zero harm’ continues

By: Simone Liedtke 18th April 2019 The South African mining industry has continuously recommitted to the shared aspiration of zero harm, which aims to ensure that mineworkers return home from work unharmed every day. While there was an 86% decline in the number of fatalities from 1994 to 2016, the death of 90 mineworkers marked a... →

Five-month gold strike is over

By: Martin Creamer 17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... →

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia 17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... →

Zimbabwe attracts two new investors to develop platinum mining projects

By: Reuters 17th April 2019 Zimbabwe will in coming weeks name two new investors who will develop separate platinum mining projects west of the capital as the country ramps up mining output in an attempt to ease a severe dollar shortage, the mines minister said on Wednesday The southern African nation has the second largest... →

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