R/€ = 15.54 Change: 0.00
R/$ = 13.94 Change: -0.01
Au 1417.53 $/oz Change: -2.15
Pt 856.14 $/oz Change: 9.29

Mining News

Nedbank’s Fuel Cell Electric Vehicle conference  

19th July 2019 Mining Weekly editor Martin Creamer attended Nedbank’s Fuel Cell Electric Vehicle conference in Cape Town this week and unpacks the highlights from the event. 

Lucara names 1 758 ct diamond ‘rare find’

By: Tasneem Bulbulia     19th July 2019 Canada-headquartered diamond miner Lucara Diamond has chosen the name Sewelô, meaning “rare find” in Setswana, for the 1 758 ct diamond recovered from its Karowe mine, in Botswana, in April. The name was selected from over 22 000 submissions in a contest that was open to all Botswana citizens. 

Selby resigns as RNC CEO

By: Creamer Media Reporter      19th July 2019 Mark Selby has resigned as president and CEO of gold miner RNC Minerals with immediate effect, the TSX-listed company announced on Thursday. Executive chairperson of the board, Paul Huet, had been appointed interim CEO. 

Khoemacau’s project funding package increases to $650m 

By: Simone Liedtke     19th July 2019 Khoemacau Copper Mines, owner of the Khoemacau copper/silver project in Botswana, has added an $85-million equity component to its project funding package, bringing total available funding to $650-million. All components of the package closed simultaneously earlier this week, and first draws are... 

Acacia agrees to buyout from parent Barrick 

By: Mariaan Webb     19th July 2019 Gold miners Acacia Mining and Barrick Gold have ended their two-month standoff, announcing on Friday that they have agreed on a takeover offer of 232p a share, valuing the London-listed company at about £343-million. Minority shareholders in Barrick will now receive 0.168 new Barrick shares for... 

Acacia agrees to buyout from parent Barrick

Zenith completes Jundee power expansion

By: Esmarie Iannucci     19th July 2019 ASX-listed independent power producer Zenith Energy has completed and fully commissioned a 6 MW build-own-operate power station expansion at gold miner Northern Star Resources’ Jundee project, in Western Australia. The capacity expansion adds to the existing 19.2 MW capacity. 

Angola to partially privatise diamonds parastatal

By: Rebecca Campbell     19th July 2019 Speaking in Lisbon, Portugal, early this month, Angolan Natural Resources Minister Diamantino Azevedo stated that his country’s State-owned diamond group Endiama was going to be partially privatised and have some of its equity listed on the stock exchange. He was speaking to the Portuguese news... 

Mining VP outlines capacity to intensify efficiencies, strengthen services through wider diversity of skills 

By: Martin Creamer     19th July 2019 Following the incorporation of Jacobs’ energy, chemicals and resources (ECR) business into the rebranded Worley, Creamer Media’s Mining Weekly interviewed Robert Hull, the new VP of the Worley mining, minerals and metals division for Africa, which provides advisory, project management and... 

Mining VP outlines capacity to intensify efficiencies, strengthen services through wider diversity of skills
Worley VP mining Robert Hull speaks to Mining Weekly's Martin Creamer about the company's new capacity and capability. Camerawork and Editing: Darlene Creamer.

Concerns remain around ‘much improved’ 2019 mine rehab financial provision regulations

By: Nadine James     19th July 2019 There has been significant debate among stakeholders regarding the extent to which mining companies should be held accountable for mine closure, including ways of generating funds for this purpose, to ensure that the State does not carry the cost for mines that close prematurely or become... 

Concerns remain around ‘much improved’ 2019 mine rehab financial provision regulations

Prospect ups its stake in Arcadia

By: Esmarie Iannucci     19th July 2019 The Reserve Bank of Zimbabwe has approved ASX-listed Prospect Resources’ acquisition of an additional 17% interest in the Arcadia lithium project. The transaction would increase Prospect’s stake in the project from 70% to 87%. 

MMG production declines in June quarter

By: Esmarie Iannucci     19th July 2019 Base metals miner MMG has reported production declines over nearly all of its commodities in the three months to June, apart from molybdenum. Copper production for the quarter ended June was down 15% on the previous corresponding period, to 84 695 t, while copper cathode production was down 20%... 

Western Areas inks MREP offtake

By: Esmarie Iannucci     19th July 2019 Nickel miner Western Areas has signed an offtake agreement with Japanese major Sumitomo Metal Mining for high-grade nickel sulphide precipitate (NSP) from the mill recovery enhancement project (MREP) at the Forrestania nickel operation. No set volume has been agreed upon, however, while not an... 

Construction starts on Victorian hydrogen plant

By: Esmarie Iannucci     19th July 2019 Construction has started on a half-a-billion dollar pilot hydrogen plant in Victoria that would turn brown coal from the Latrobe Valley into hydrogen, which would then be liquefied for exported to Japan. Minister for Resources and Northern Australia Matt Canavan on Friday said that the pilot... 

Construction starts on Victorian hydrogen plant

Mining Weekly iPhone and Android Apps available for free download 

19th July 2019 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers a app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

High Court rules in favour of Vantage in mine sale dispute

By: Marleny Arnoldi     18th July 2019 The Mpumalanga High Court on Wednesday ruled in favour of Vantage Goldfields South Africa, in its dispute with Flaming Silver, a subsidiary of Siyakhula Sonke Empowerment Corporation (SSC), about the transfer of the Lily and Barbook mine assets. Vantage CEO Mike McChesney said in a statement... 

High Court rules in favour of Vantage in mine sale dispute
Lily Mine portal entrance

SilverCrest gains permit for Las Chispas

By: Mariaan Webb     18th July 2019 Canada-headquartered SilverCrest has been granted environmental approval for the development of the Las Chispas project, in Sonora, Mexico, which now positions the company to complete project finance and to begin construction activities in the second half of next year. The operating permit... 

Platinum-linked fuel cell business accelerating at rapid rate, say experts  

By: Martin Creamer     18th July 2019 South Africa is continuing to gather top-tier insight into fuel cell technology as it navigates the electric vehicle market’s growing links to this country’s globally unparalleled platinum group metals industry. Expert after expert at this week’s Nedbank CIB’s Market Research conference outlined... 

Platinum-linked fuel cell business accelerating at rapid rate, say experts
Nedbank CIB Market Research mining analyst Arnold van Graan

Barrick records solid second-quarter performance  

By: Tasneem Bulbulia     18th July 2019 Dual-listed Barrick Gold on Thursday reported a solid operating performance across its portfolio during the second quarter ended June 30, with production of 1.35-million ounces of gold and 97-million pounds of copper. It sold 1.37-million ounces of gold and 96-million pounds of copper during the... 

Barrick records solid second-quarter performance
Mark Bristow

Centamin says business outlook continues to improve

By: Rebecca Campbell     18th July 2019 Dual London- and Toronto Stock Exchange-listed gold miner Centamin, whose current main asset is the Sukari gold mine in Egypt, announced on Thursday that the amount of gold produced by the mine during the second quarter of this year (2Q19) was slightly (1%) higher than the production during the... 

Eric Sprott participates in Discovery's C$9m placement

By: Creamer Media Reporter      18th July 2019 Mexico-focused exploration company Discovery Metals has announced a C$9-miillion nonbrokered private placement of shares, in which investor Eric Sprott has agreed to participate. The TSX-V-listed firm will issue 23 216 174 common shares at C$0.23 a share and 15 935 000 subscription receipts at... 

Zambia first-half copper output down 4% – Mines Ministry

By: Reuters     18th July 2019 Zambia's copper production dropped 4% to 393 419 t in the first six months of the year, ministry of mines data showed on Thursday. Mines Permanent Secretary Paul Chanda attributed the decline to challenges such as declining ore grades but said full-year output is likely to exceed 2018 figures. 

Scotgold gives up Portugal licence

By: Creamer Media Reporter      18th July 2019 London-listed Scotgold announced on Thursday that it would not extend the Pomar exploration licence in Portugal, and that it had applied to terminate the licence. This follows the earlier falling through of an earn-in agreement that Scotgold had with South African exploration firm PanEx. 

Orca-Avant combination creates new West Africa explorer

By: Creamer Media Reporter      18th July 2019 A new private mineral exploration company focused on West Africa is to emerge from the combination of Avant Minerals and the Côte d'Ivoire assets of TSX-V-listed Orca Gold. The new company, Montage Gold, will initially be owned 60% by Orca and 40% by Avant, prior to the completion of a... 

Botswana Diamonds raises £250 000

By: Creamer Media Reporter      18th July 2019 Aim-listed Botswana Diamonds has raised £250 000, through the placing of 50-million shares with new and existing investors at 0.5p a share. This represents about 7.98% of the company's issued share capital. 

Shanta lifts first-half gold output by 11% y/y

By: Natasha Odendaal     18th July 2019 Aim-listed Shanta Gold on Thursday posted an 11% year-on-year increase in gold production to 42 230 oz for the first half of this year. The East Africa-focused gold producer, developer and explorer’s production for the second quarter, at 19 856 oz, was, however, lower than the 22 374 oz produced... 

Anglo American’s production rises 2% in second quarter

By: Tasneem Bulbulia     18th July 2019 Diversified miner Anglo American’s copper-equivalent production for the second quarter ended June 30, increased by 2% year-on-year, on the back of the successful ramp-up at the Minas-Rio iron-ore mine, in Brazil, and a strong performance at its metallurgical coal operations following the longwall... 

Anglo American’s production rises 2% in second quarter
Anglo American CEO Mark Cutifani

Kavango receives assay results from Ditau Camp prospect

By: Tasneem Bulbulia     18th July 2019 Aim-listed Kavango Resources has received assay results from the two holes drilled at the Ditau Camp prospect, in Botswana, from Genalysis Laboratories in Australia. A total of 489 core samples were prepared by Intertek Laboratories in Johannesburg and assayed for 65 elements by Genalysis using... 

Edenville expects to be cash positive within next nine months

By: Simone Liedtke     18th July 2019 Coal mining has now started in the new northern mining area of Aim-listed Edenville Energy’s flagship Rukwa coal project, in Tanzania. CEO Rufus Short on Thursday said that, as the project was developed further, the company expected significant quantities of coal could be extracted from the area. 

Tight global supply puts low grade Indian iron-ore fines back on international buyers’ shopping lists

By: Ajoy K Das     18th July 2019 Tightening of supplies of iron-ore from global resource majors has triggered a spike in outward shipments of the steelmaking raw material through Indian ports and also put low grade fines back in favour with global steel mills. According to data sourced from the Indian Ports Association, outward... 

South Arturo's El Nino underground mine ahead of schedule

By: Mariaan Webb     18th July 2019 The El Nino underground mine under construction at South Arturo – a joint venture (JV) operated by Barrick Gold and Newmont Goldcorp’s newly formed Nevada Gold Mines – is progressing ahead of schedule. This is according to 40% owner in South Arturo, TSX-listed Premier Mines, which on Wednesday... 

Amplats maintains full-year guidance

By: Tasneem Bulbulia     18th July 2019 Anglo American Platinum still expects to achieve its full-year metal-in-concentrate production guidance of 4.2-million to 4.5-million platinum group metal (PGM) ounces. For the second quarter, its PGM output increased by 1% to 1.12-million ounces. 

De Beers lowers full-year output expectations on weaker demand 

By: Simone Liedtke     18th July 2019 Diamond miner De Beers has revised its full-year production guidance downward to about 31-million carats, leaning towards the lower end of the previous range of between 31-million and 33-million carats, in response to weaker trading conditions experienced during the second quarter. De Beers is... 

De Beers lowers full-year output expectations on weaker demand

Kumba’s first-half sales increase reflective of improved rail performance

By: Simone Liedtke     18th July 2019 JSE-listed Kumba Iron Ore’s sales for the six months ended June 30, increased by 1% to 21.3-million tonnes, while export sales increased by 2% to 19.9-million tonnes, ultimately reflecting an improvement in rail performance which allowed the miner to meet sustained demand. During the second... 

Three French soldiers killed by toxic fumes in Guyana illegal mine operation

By: Reuters     18th July 2019 Three French soldiers died from toxic fumes during an operation targeting illegal gold miners in French Guyana, the Defence Ministry said on Thursday. The Ministry said the soldiers were preparing to place explosive charges to destroy the underground facilities used by the miners when eight of... 

Court reserves judgment in Vedanta application against winding up Zambia operations

By: African News Agency      18th July 2019 Johannesburg's high court has reserved judgment in Vedanta Resources' application for an urgent interim interdict against the Zambian government's appointment of a provisional liquidator to wind up Konkola Copper Mine (KCM) operations. The Indian-owned mining company is challenging Lusaka's... 

Does renewables pioneer Germany risk running out of power?

By: Reuters     18th July 2019 Germany, a poster child for responsible energy, is renouncing nuclear and coal. The problem is, say many power producers and grid operators, it may struggle to keep the lights on. The country, the biggest electricity market in the European Union, is abandoning nuclear power by 2022 due to safety... 

Does renewables pioneer Germany risk running out of power?

Alacer gains on sale of Gediktepe project

By: Mariaan Webb     18th July 2019 Gold miner Alacer Gold’s stock closed nearly 6% up on Wednesday in Toronto, following the sale of its 50% nonoperating interest in the Gediktepe project, in Turkey, to its joint venture (JV) partner. Alacer, which also maintains a secondary listing on the ASX, said that it retain a 10% net... 

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