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Mining News

Santos reports a stellar first half

By: Esmarie Iannucci     18th July 2019 Oil and gas major Santos has reported record interim results for the six months to June, with production growing to 37-million barrels of oil equivalent, up 32% on the previous corresponding period. “Our disciplined operating model and approach to capital allocation has delivered a strong first... 

Stanmore posts record quarter

By: Esmarie Iannucci     18th July 2019 Coal miner Stanmore Coal has reported record saleable production for the three months to June, with a 130% increase in saleable coal production, compared with the previous corresponding period. Saleable coal production for the June quarter reached 721 000 t, up from the 314 000 t reported in... 

South32 reports strong end to FY2019

By: Esmarie Iannucci     18th July 2019 Diversified miner South32 has reported a strong finish to the 2019 financial year, with revenue equivalent production growing by 10% in the June quarter and by 3% in the full year, while record production was achieved at the Hillside aluminium operation, and metallurgical coal production from the... 

South32 reports strong end to FY2019
South32 CEO Graham Kerr

McEwen lowers production forecast on delays at new Nevada mine

By: Mariaan Webb     17th July 2019 Precious metals miner McEwen Mining on Wednesday lowered its gold production guidance by 6%, after its new Gold Bar and Black Fox mines, in Nevada and Ontario, respectively, performed weaker than expected in the second quarter. The gold guidance for the year is now to produce 152 000 oz, which... 

Sweden seeks lithium tie-ups in South America amid 'white gold' rush

By: Reuters     17th July 2019 Sweden is turning its gaze towards Peru and other South American countries for lithium tie-ups amid a global race to lock in supply of the "white gold" metal that is key for the batteries that power electric vehicles. A senior trade official from the Scandinavian nation told Reuters by phone... 

Sweden seeks lithium tie-ups in South America amid 'white gold' rush

Zululand Anthracite Colliery appoints first black GM

By: Nadine James     17th July 2019 Mining investment company Menar’s Zululand Anthracite Colliery (ZAC) subsidiary has appointed Siyabonga Mathonsi as its first black GM since mining operations began in 1987. His appointed is effective July 15. 

 Zululand Anthracite Colliery appoints first black GM
Siyabonga Mathonsi

South Africa positioning itself within platinum-rich hydrogen economy

By: Martin Creamer     17th July 2019 Nurturing new forms of economic activity brought about by the green economy was important, President Cyril Ramaphosa’s economic advisor Trudi Makhaya emphasised on Wednesday. Speaking at the fuel cell conference organised by Nedbank CIB Market Research, Makhaya said a point of rupture had been... 

South Africa positioning itself within platinum-rich hydrogen economy
Photo by Creamer Media's Veronica Creamer
Trudi Makhaya

Zim government prioritises RHA's tungsten project recommissioning

By: Nadine James     17th July 2019 The Zimbabwe Electricity Supply Authority has been requested to electrify London-listed Premier African Minerals’ RHA tungsten mine, with the project now considered a priority for the Zimbabwean government. Premier, which holds a 49% interest in RHA and is the operator, on Wednesday said... 

Zambia expects bids for KCM within weeks – Minister

By: Reuters     17th July 2019 Zambia's Minister of Mines Richard Musukwa said on Wednesday nine companies would submit bids for Konkola Copper Mines, which is at the centre of an ownership dispute with Mumbai-listed Vedanta, within weeks. "The bidding process will start once all the companies have conducted due diligence and... 

SCA president dismisses Atha-Africa’s appeal

By: Nadine James     17th July 2019 The judgment of the Pretoria High Court in favour of a civil society coalition defending an Mpumalanga Strategic Water Source Area has been upheld, despite mining company Atha-Africa Ventures’ third attempt to have it set aside. Supreme Court of Appeal president Mandisa Maya dismissed the appeal... 

Fixing Eskom will result in higher taxes, electricity prices – economist

By: Irma Venter     17th July 2019 There is little doubt that the taxpayer will be left footing the bill for the problems experienced at power supplier Eskom, and probably so through higher electricity prices and increased taxes. Over the last decade-plus, Eskom has seen generation capacity increase only slightly, with the amount... 

Fixing Eskom will result in higher taxes, electricity prices – economist
Photo by Creamer Media's Dylan Slater
Absa research head and chief economist Jeff Gable

AECI realignment projects offer long-term benefits

By: Marleny Arnoldi     17th July 2019 As a result of the strategic realignment projects completed by it in June, JSE-listed explosives and specialty chemicals group AECI expects to report a 22% year-on-year decrease in headline earnings per share (HEPS) for the six months ended June 30. HEPS were likely to be between 357c and 376c... 

Sweden's Sandvik to cut 2 000 jobs as demand turns weaker

By: Reuters     17th July 2019 Swedish engineering group Sandvik reported quarterly operating earnings below market expectations on Wednesday and said it would cut around 2 000 jobs to buttress profitability in the face of early signs of slowing market demand. Sandvik said it had seen weaker demand in its parts of its... 

Asiamet gets enviro permit for Indonesia project

By: Creamer Media Reporter      17th July 2019 London-listed Asiamet has been given the environmental go-ahead for the BKM copper project, in Central Kalimantan, Indonesia, allowing the company to proceed with the development of the project, mine and infrastructure. The company hailed the provincial environmental permit as a “significant... 

Send in the troops – Congo raises the stakes on illegal mining

By: Reuters     17th July 2019 A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya,... 

Ariana reports strong quarterly performance

By: Creamer Media Reporter      17th July 2019 Turkey’s Kiziltepe mine, which forms part of the Red Rabbit joint venture between Ariana Resources and Proccea Construction, had a strong second quarter, with gold production exceeding the annualised quarterly guidance. The mine produced 6 438 oz in the three months ended June, which although... 

Fuel cell developments poised to transform PGM, manufacturing sectors 

By: Martin Creamer     17th July 2019 Global developments in the fuel cell sector, which have begun to move at a far faster pace than expected after decades of build-up, are poised to transform South Africa’s platinum group metals and manufacturing sectors, a well-attended fuel cell conference heard on Wednesday. Speakers at the... 

Fuel cell developments poised to transform PGM, manufacturing sectors
Photo by Creamer Media's Veronica Creamer
Dr Ferdinand Panik

Fresnillo says 2019 is challenging, cuts guidance

By: Mariaan Webb     17th July 2019 Mexico-based precious metals miner Fresnillo on Wednesday lowered its production guidance for 2019, citing lower-than-expected ore grades and ore throughput at the Fresnillo mine, a delay in the construction of a leaching pad at Herradura and the lower ore throughput at the dynamic leaching... 

Red 5 hits record quarter

By: Esmarie Iannucci     17th July 2019 Gold miner Red 5 has reported a record quarter from its Western Australian operations during the three months to June, producing 30 098 oz of gold, compared with the 24 187 oz delivered in the March quarter. Gold sales for the June quarter reached 27 406 oz, compared with the 23 444 oz sold in... 

Minerals dept issues Section 11 approval for BRPM stake transfer 

By: Nadine James     17th July 2019 The Department of Mineral Resources has granted a Section 11 approval for the transfer of Rustenburg Platinum Mine’s (RPM’s) 33% undivided interest in the mining rights attributable to the Bafokeng Rasimone Platinum Mine (BRPM) joint venture to Royal Bafokeng Platinum (RBPlat). RPM, a wholly... 

Warrawoona PFS proves positive for Calidus

By: Esmarie Iannucci     17th July 2019 A prefeasibility study (PFS) into the Warrawoona gold project, in the Pilbara region of Western Australia, has estimated that some 580 490 oz could be recovered over an initial six year mine life. ASX-listed Calidus Resource on Wednesday told shareholders that Warrawoona could be developed at a... 

Acacia seeks stay of intl arbitration; ordered to halt use of North Mara TSF 

By: Nadine James     17th July 2019 LSE-listed Acacia Mining’s Tanzanian operating subsidiaries, Bulyanhulu Gold Mine and Pangea Minerals, plans to seek a stay of their international arbitration with the government of Tanzania. If the Tanzanian government agrees to the stay, Acacia expects the arbitration hearing to be postponed to... 

Acacia seeks stay of intl arbitration; ordered to halt use of North Mara TSF

Ontario’s First Cobalt refinery moves closer to restarting

By: Mariaan Webb     17th July 2019 The recommissioning of the First Cobalt refinery in Ontario edged forward this week, with the conclusion of a term sheet between TSX-V-listed company and global miner Glencore, detailing the framework for a fully funded, phased restart of the refinery. The term sheet follows on a memorandum of... 

Ontario’s First Cobalt refinery moves closer to restarting

Implats strengthening balance sheet through early conversion of bonds

By: Creamer Media Reporter      17th July 2019 Platinum group metals (PGMs) producer Impala Platinum (Implats) is inviting holders of its $250-million 3.25% convertible bonds due in 2022 (USD bonds) to exercise their conversion rights. Bondholders will receive a cash payment and shares in Implats in accordance with the terms of the USD bonds. 

How lithium-rich Chile botched a plan to attract battery makers

By: Reuters     17th July 2019 In March 2018, the Chilean government unveiled big news: Corporate investors, including South Korean electronics giant Samsung, would build three factories in Chile to produce battery parts for electric vehicles. Chile had lured the companies with an enticing offer. In exchange for helping the... 

Kibali on track to meet full-year guidance

By: Creamer Media Reporter      17th July 2019 The Kibali gold mine, in the Democratic Republic of the Congo (DRC), remains on track to produce the guided 750 000 oz of gold for this year, Barrick Gold CEO Mark Bristow says. Randgold Resources, which was bought out by Barrick last year, bought the Moto project, which has since been developed... 

Kibali on track to meet full-year guidance
Photo by Reuters
Barrick CEO Mark Bristow

Syrah hits production bump at Balama

By: Esmarie Iannucci     17th July 2019 Minor equipment issues at the Balama graphite operation, in Mozambique, has seen ASX-listed Syrah Resources’ production fall by 8% in the second quarter ended June. The company on Wednesday said that 44 000 t of natural flake graphite was produced at Balama during the three months to June, down... 

Mt Cattlin breaks records for Galaxy

By: Esmarie Iannucci     17th July 2019 Lithium miner Galaxy Resources has reported a record quarter from its Mt Cattlin mine, in Western Australia, during the three months to June. The Mt Cattlin operation exceeded the production guidance of between 45 000 t and 50 000 t, producing 56 460 t of 6% lithium oxide during the quarter under... 

Vango exercises Ned's Creek option

By: Esmarie Iannucci     17th July 2019 ASX-listed Vango Mining has exercised its option to gain a 51% interest in the Ned’s Creek gold project, in Western Australia, by spending A$5-million within a three year period. Vango and fellow-listed Lodestar Minerals in May struck a binding term sheet under which Vango secured an exclusive... 

Force finds offtake for prospective Tshimpala

By: Esmarie Iannucci     17th July 2019 ASX-listed Force Commodities has signed a binding offtake agreement with Swiss-based Transamine Trading SA over the lead and silver production from its Tshimpala project, in Malawi. Under the terms of the agreement, Transamine would purchase all of the high-grade lead and silver produced from... 

BHP reports solid FY19

By: Esmarie Iannucci     17th July 2019 Diversified giant BHP has exceeded its full-year production guidance for petroleum, while hitting its revised targets for both iron-ore and copper output in the year ended June. CEO Andrew Mackenzie told shareholders on Wednesday that BHP finished the 2019 financial year with an 11% increase in... 

BHP reports solid FY19
BHP CEO Andrew Mackenzie

Oyu Tolgoi troubles hit Turquoise Hill share price

By: Mariaan Webb     16th July 2019 The share price of Vancouver-based Turquoise Hill tanked to a new one-year low on the TSX and NYSE exchanges on Tuesday, following news of a cost overrun and delays at its major mine project in Mongolia. The stock closed 43% down at C$0.79 a share in Toronto and at $0.60 a share in New York,... 

Platinum helping California’s fuel cell cars to fill up with hydrogen 

By: Martin Creamer     16th July 2019 Thousands of fuel cell electric vehicles (FCEVs) in California obtain their hydrogen with the help of platinum from a growing number of hydrogen refuelling stations that have been established with effective government help. Independent hydrogen consultant Dr Jose Lopez Gallego, who is in South... 

Platinum helping California’s fuel cell cars to fill up with hydrogen
Dr Jose Lopez Gallego (left) talking to Martin Creamer

Alrosa signs JV agreement with Zimbabwean miner

By: Creamer Media Reporter      16th July 2019 Russian diamond miner Alrosa has entered into a joint venture (JV) agreement with Zimbabwe national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) to develop diamond deposits in the Southern African country. The agreement was signed by Alrosa deputy CEO Vladimir Marchenko and ZCDC... 

Palmietkuilen nears final approval, company liaising with community

By: Tasneem Bulbulia     16th July 2019 Exploration and mining company Canyon Coal’s proposed Palmietkuilen openpit coal mine, in Springs, Gauteng, is in the final stages of regulatory approval and the company hopes to begin mining before the end of the year. Canyon Coal is a subsidiary of mining investment company Menar. 

SRK to review Waterberg platinum project DFS, planning progresses

By: Marleny Arnoldi     16th July 2019 TSX- and NYSE-listed Platinum Group Metals (PTM) will, during this month, submit its definitive feasibility study for the Waterberg project for a peer review by engineering firm SRK Consulting, before publishing it before the end of the third quarter. The company has also filed a mining right... 

Avocet seeks last-chance opportunities before considering voluntary liquidation

By: Marleny Arnoldi     16th July 2019 Embattled Avocet Mining has temporarily withdrawn a resolution that was to be put to shareholders at an upcoming general meeting for the proposed voluntary liquidation of the company. Avocet on Tuesday said it would discuss possible outcomes for the company, including being broken up in an... 

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