https://www.engineeringnews.co.za
R/€ = 16.08 Change: 0.02
R/$ = 14.41 Change: 0.02
Au 1277.10 $/oz Change: -8.78
Pt 815.90 $/oz Change: -10.92
 

Mining News

Economic opportunities, electricity generation, Tharisa Minerals make headlines 

16th May 2019 This week the CEO of Eunomix Claude Baissac paid Mining Weekly a visit and called on South Africans to act together to realise economic opportunities. In a time of energy uncertainty, the path is being paved for South Africans to generate their own electricity. And, Tharisa Minerals is sticking... 

Presidency slapped with hefty R29.9bn claim over Lesotho diamonds

By: News24Wire      16th May 2019 A diamond mining company has filed a R29.9-billion claim against President Cyril Ramaphosa and his government as a near three-decade-long dispute over expropriated diamond mining rights in Lesotho reaches South African courts again. Josias van Zyl, MD of Swissbourgh Diamond Mining, is arguing... 

Debmarine Namibia to invest $468m in its seventh diamond recovery vessel 

By: Simone Liedtke     16th May 2019 Debmarine Namibia, a joint venture between diamond miner De Beers and the Namibian government, has approved the construction of a new custom-built diamond recovery vessel, which will become the seventh such vessel in Debmarine’s fleet. The vessel, which will be built at a cost of $468-million,... 

Debmarine Namibia to invest $468m in its seventh diamond recovery vessel
De Beers CEO Bruce Cleaver

Northern Dynasty’s Pebble reaches second native right-of-way agreement

By: Mariaan Webb     16th May 2019 The Pebble Limited Partnership (PLP) – a subsidiary of Northern Dynasty – has finalised a right-of-way agreement with Iliamna Natives, securing the right to use defined portions of its lands for the construction and operation of transportation infrastructure associated with the Pebble project.... 

Northam Platinum plans to buy back preference shares 

By: Reuters     15th May 2019 Northam Platinum plans to buy back about 15-million preference shares out of 159-million currently in issue in the financial year ending June 2020, its chief executive said on Wednesday. The miner, one of the top platinum producers globally, wants to reward shareholders following a boost to... 

Lithium Americas names new CEO, quarterly loss shrinks

By: Reuters     15th May 2019 Lithium Americas, which is developing lithium projects in Argentina and Nevada, said on Wednesday that its quarterly loss shrank as costs fell and sales rose, and that its CEO would retire. The company is one of a handful of junior miners around the world working to develop mines for lithium, a... 

Codelco strikes labour deal with supervisors at Salvador mine

By: Reuters     15th May 2019 State miner Codelco, the world's top copper producer, said on Wednesday that it had agreed on a new labour contract with the union of supervisors at its small Salvador mine in northern Chile. The union and company had entered into a government mediated negotiation earlier this month after... 

Trump administration opens up Minnesota wilderness area to copper mining

By: Reuters     15th May 2019 The US Interior Department on Wednesday renewed two mineral leases near the Boundary Waters Wilderness area in Minnesota, a key step in opening the popular wilderness and recreation area up to copper mining despite heavy opposition from local and national conservation groups. The department's... 

Trump administration opens up Minnesota wilderness area to copper mining

Ivanhoe receives additional C$679m investment

By: Simone Liedtke     15th May 2019 Co-chairpersons of TSX-listed Ivanhoe Mines, Robert Friedland and Yufeng Sun, on Wednesday announced that Citic Metal, through a subsidiary, is investing an additional C$612-million in Ivanhoe at C$3.98 a share. Zijin Mining Group has now also fully exercised its antidilution rights, also at... 

Positive reaction to Radebe’s lifting of licence restraints on small-scale power plants 

By: Terence Creamer     15th May 2019 Industry has reacted positively to revelations that Energy Minister Jeff Radebe has written to the National Energy Regulator of South Africa (Nersa) indicating that it should begin to license small-scale embedded generation (SSEG) projects with capacities of above 1 MW. Business Day reported on... 

Positive reaction to Radebe’s lifting of licence restraints on small-scale power plants

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit 

By: Martin Creamer     15th May 2019 Platinum group metals and chrome mining company Tharisa Minerals has not allowed lower half-year production, profit and cash flow to get in the way of declaring an interim dividend. The Johannesburg- and London-listed company declared a $0.005-a-share payout on earnings a share of $0.4c, in... 

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit
Photo by Creamer Media
Tharisa Minerals CEO Phoevos Pouroulis.

ABM to buy 35% stake in Katoro's Haneti project

By: Creamer Media Reporter      15th May 2019 Aim-listed Katoro Gold has entered into an investment and option agreement with fellow Aim-listed African Battery Minerals (ABM) that will result in ABM acquiring up to 35% of Katoro's Haneti nickel project, in Tanzania, for £125 000. Under the terms of the agreement, ABM will acquire, in... 

Bushveld's Vametco achieves record monthly production

By: Creamer Media Reporter      15th May 2019 Diversified miner Bushveld Minerals' Vametco subsidiary produced 270 t of vanadium in March – the highest monthly production rate achieved by the operation in the past 21 months. This achievement comes on the back of improvements in mine production scheduling, vanadium grade in the kiln feed and... 

Zimbabwe platinum mines to ride out power cuts, gold output less secure 

By: Reuters     15th May 2019 Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts... 

Lonmin likely to cut fewer jobs due to revenue boost – CEO

By: Reuters     15th May 2019 Lonmin will delay or reduce the number of jobs it had planned to cut in South Africa as soaring palladium prices have boosted revenue, its chief executive said, ahead of a takeover by Sibanye-Stillwater. Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the... 

Avesoro's first-quarter Ebitda margin improves to 16%

By: Creamer Media Reporter      15th May 2019 West African gold producer Avesoro Resources achieved a 102% quarter-on-quarter increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $9.5-million for the first quarter of this year. Its Ebitda margin also improved to 16%, compared with the 8% margin achieved in... 

Not all deals at Transnet went through prescribed processes – acting CEO

By: African News Agency      15th May 2019 Not all transactions at State-owned logistics company Transnet were handled in compliance with stipulated processes, acting CEO Mohammed Mahomedy told the commission probing graft on Wednesday. "What we found was that certain transactions were approved through normal processes and some of the... 

Not all deals at Transnet went through prescribed processes – acting CEO
Photo by Creamer Media's Dylan Slater
Acting Transnet CEO Mohammed Mahomedy

Acacia concludes termination of earn-in agreement over Burkina Faso project

By: Creamer Media Reporter      15th May 2019 London-listed Acacia Mining has signed the definitive documentation required to terminate its earlier earn-in agreement with TSX-V- and FSE-listed Sarama Resources over the South Houndé project, in Burkina Faso. Acacia announced in November last year that it would divest of the project, following... 

Webber Wentzel provides overview of Medico-Legal Investigations of Mine Deaths guideline

By: Simone Liedtke     15th May 2019 Following the Chief Inspector of Mines’ publication of a guidance note on Medico-Legal Investigations of Mine Deaths, which aims to provide certainty about the processes to be followed in the event that the cause of a death at a mine is not immediately clear, law firm Webber Wentzel partner Kate... 

Webber Wentzel provides overview of Medico-Legal Investigations of Mine Deaths guideline
Webber Wentzel partner Kate Collier

Greenland optimises Kvanefjeld economics

By: Esmarie Iannucci     15th May 2019 An optimised feasibility study into the Kvanefjeld rare earths project, in Greenland, has estimated a $31-million increase in annual revenue, at current rare-earth prices. ASX-listed Greenland Minerals on Wednesday reported that the optimised study had estimated an 8% increase in rare-earth... 

Greenland optimises Kvanefjeld economics

Ramelius warns of further delays at Greenfinch

By: Esmarie Iannucci     15th May 2019 Gold miner Ramelius Resources has warned of further delays to the approval process for its Greenfinch openpit operation, in Western Australia, immediately adjacent to the Edna May operation. The Western Australian Department of Mines, Industry Regulation and Safety in November rejected the... 

Gulf's DSO operation gets final approval

By: Esmarie Iannucci     15th May 2019 ASX-listed Gulf Manganese has received final approval from the Indonesian Ministry of Trade for its direct shipping ore (DSO) licence. The approval from the Ministry of Trade follows an earlier approval from the Ministry of Energy and Mineral Resources, and marks the final ratification for the... 

Troy targeting growth at Karouni

By: Esmarie Iannucci     15th May 2019 Junior gold miner Troy Resources will continue to target growth opportunities at its Karouni gold project, in Guyana, with the miner hoping to extend its project holding through acquisitions or joint ventures. Speaking on the sidelines of the Paydirt Latin America Downunder conference, in... 

Pantoro buys half of Central Norseman gold project

By: Esmarie Iannucci     15th May 2019 ASX-listed Pantoro has inked a multi-million dollar deal to acquire a 50% interest in the Central Norseman gold project (CNGP), in Western Australia. Pantoro will form a joint venture (JV) with Central Norseman Gold Corporation and its subsidiary, and will take over management control of the... 

Breaker raises funds for Bombora discovery

By: Esmarie Iannucci     15th May 2019 Junior Breaker Resources will raise A$6.3-million through a share placement to fund a prefeasibility study of its Bombora gold discovery, in Western Australia. The company on Wednesday reported that it would place some 21-million shares, at a price of 30c each, to institutional and sophisticated... 

Australia’s St Barbara to buy Atlantic Gold for C$802m

By: Esmarie Iannucci     15th May 2019 Australian gold miner St Barbara has struck a C$802-million takeover deal of TSX-V-listed Atlantic Gold. St Barbara on Wednesday announced plans to acquire all of the outstanding shares in Atlantic for C$2.90 a share, implying an enterprise value of C$802-million. 

Australia’s St Barbara to buy Atlantic Gold for C$802m
Moose River

Pure Gold to list on London main market next week

By: Creamer Media Reporter      15th May 2019 Canada-focused gold development company Pure Gold, which owns the Madsen gold project in Red Lake, Ontario, will be listing on the main market of the LSE next week. The London listing will be a dual listing, as Pure Gold already maintains a listing on the TSX-V. 

Team behind Kaminak launches new minerals explorer

By: Creamer Media Reporter      15th May 2019 The team behind Kaminak Gold – the company that discovered the multi-million-ounce Coffee gold project and sold it to Goldcorp for C$520-million in 2016 – has regrouped and formed a new minerals exploration company. Tectonic Metals was founded nearly two years ago by Eira Thomas, Tony Reda and... 

Over 40% of minority shareholders of Turquoise Hill oppose independent directors

By: Reuters     14th May 2019 A large proportion of the minority shareholders in Rio Tinto Plc-controlled Turquoise Hill Resources voted against the re-election of the company's independent directors on Tuesday. While all seven directors were re-elected to the board, according to a Turquoise Hill filing, over 40% of... 

Barrick Gold prepping sale of Zambian copper mine in H2 – sources

By: Reuters     14th May 2019 Barrick Gold, the world's second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Fresh from two major deals in recent months, Barrick has said it plans to... 

Barrick Gold prepping sale of Zambian copper mine in H2 – sources

Finding fossil fuel investors is becoming harder, says Hadebe 

By: Kim Cloete     14th May 2019 With a crackdown on carbon emissions, it is becoming increasingly difficult to find investors that support fossil fuels, says Eskom CEO Phakamani Hadebe. “The truth is, how will we fund fossil fuels if we remain on them? The trend in financial markets is that you see fewer and fewer investors... 

Finding fossil fuel investors is becoming harder, says Hadebe
Photo by Creamer Media's Dylan Slater
Eskom CEO Phakamani Hadebe

Polyus capex to accelerate in second and third quarters

By: Reuters     14th May 2019 Russia's largest gold producer Polyus said on Tuesday it plans to materially accelerate capital expenditure in the second and third quarters of the year, without exceeding the $725-million it expects to spend in the year as a whole. "We still expect to spend $725-million across all or business... 

Vale says may expand Carajas Serra Sul mine, doubling output

By: Reuters     14th May 2019 Brazilian miner Valesaid on Tuesday it is considering doubling the output of its Carajas Serra Sul iron-ore mine in the northern part of the country after 2020, saying the move would allow it to cut the use of tailings dams. One such dam, used to store the muddy, toxic mining debris, collapsed... 

Edenville restarts activities at Rukwa after securing funding

By: Tasneem Bulbulia     14th May 2019 Aim-listed Edenville Energy has recently received the proceeds of £100 000 from a share placement and expects to receive the net proceeds from a conditional offer to raise a further £410 000 shortly and has, therefore, restarted a number of activities at its Rukwa coal project, in south-west... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

Release of updated IRP imminent, says Radebe, as he allays coal producers' fears  

By: Kim Cloete     14th May 2019 Energy Minister Jeff Radebe has promised that the update of the Integrated Resource Plan, which reflects the government’s policy blueprint for the power sector, will be concluded "very shortly". He told delegates attending the African Utility Week and PowerGEN Africa forum, in Cape Town, on... 

Release of updated IRP imminent, says Radebe, as he allays coal producers' fears
Photo by Bloomberg
Energy Minister Jeff Radebe

Fatality at McEwen’s Gold Bar

By: Creamer Media Reporter      14th May 2019 A haul truck driver has died at the Gold Bar mine in Nevada, owner McEwen Mining reported on Monday. The driver was a contractor employee. The individual was fatally injured when the haul truck overturned while operating at the site. 

Company Post

more

Latest News

more

Latest Videos

more

Company Announcements

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close