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Mining News

Gold Fields raises $1bn in two new bonds

By: Creamer Media Reporter      9th May 2019 South Africa-headquartered Gold Fields has concluded the raising of two new bonds totalling $1-billion. The new bonds comprise a $500-million, five-year bond with a coupon of 5.12% and a $500-million, ten-year bond with a coupon of 6.125%. The average coupon was 5.625%. 

Rio Tinto shipping more aluminium to Europe as US demand slows

By: Reuters     9th May 2019 Rio Tinto has begun shipping more aluminium to markets like Europe to offset slowing demand from the US partly caused by the trade dispute between China and the US, CEO Jean-Sébastien Jacques said on Thursday. Jacques said that demand for Rio Tinto's products had not been impacted by the... 

Miners delivered 23% of WA's revenues

By: Esmarie Iannucci     9th May 2019 The Western Australian resources sector has contributed more than A$7.23-billion in royalties and grants, contributing to the state government declaring an operating surplus of A$553-million for 2018-19. Western Australian Treasurer Ben Wyatt has predicted an operating surplus of A$1.5-billion... 

Miners delivered 23% of WA's revenues

Kidman/Wesfarmers talks going for 'some time'

By: Esmarie Iannucci     9th May 2019 The chairperson of takeover target Kidman Resources, John Pizzey, on Thursday revealed to shareholders that the company had been in discussions with suitor Wesfarmers ‘for some time’ regarding a possible takeover offer. Wesfarmers earlier this month launched a non-binding and conditional... 

King River produces HPA at Speewah

By: Esmarie Iannucci     9th May 2019 The share price of ASX-listed King River Resources increased by nearly 14% on Thursday as the company announced plans to broaden its product offering from the Speewah speciality metals project, in Western Australia. The announcement comes after the successful production of high purity alumina... 

GBM weighs options after Minjar termination

By: Esmarie Iannucci     9th May 2019 ASX-listed junior GBM Resources on Thursday told shareholders that it was ‘considering its position’ after gold junior Minjar Gold terminated a sales agreement over the Twin Hills gold project, in Western Australia. Minjar and GBM in September of last year struck a sales agreement over the Twin... 

Rio awards landmark contract

By: Esmarie Iannucci     9th May 2019 Mining major Rio Tinto has awarded a A$20-million, five-year contract with Yurra Pty Ltd to provide civil maintenance services around the company’s Pilbara rail network. Yurra is majority owned by the Yindjibarndi Aboriginal Corporation (YAC), the appointed representative of the Yindjibarndi... 

Santos inks more Narrabri supply MoUs

By: Esmarie Iannucci     9th May 2019 Australian oil and gas major Santos has inked additional nonbinding memoranda of understanding (MoU) for gas supply from its proposed Narrabri gas project, in New South Wales. Under the proposed transactions, Santos would supply building material manufacturer Brickworks with up to 3 PJ/y of... 

Resources Watch  

9th May 2019 Mandela Mining Precinct enhancing collaboration And, Orion reawakening geological giant in Northern Cape 

Resources Watch
Resources Watch

Kinross evaluating Chile comeback, options for Mauritania expansion

By: Mariaan Webb     9th May 2019 Canada-based Kinross Gold is evaluating the potential for a return to long-term production in Chile and has completed the scoping study for the Lobo-Marte project, in the Maricunga district, about 80 km from its La Coipa mine. The scoping study results indicates that Lobo-Marte could produce... 

Job creation, energy and a new fluorspar mine make headlines  

9th May 2019 Mining Weekly Editor Martin Creamer joins me this week to unpack South Africa’s opportunities in job creation, energy transition and a new fluorspar mine.   

Job creation, energy and a new fluorspar mine make headlines
Job creation, energy and a new fluorspar mine make headlines

Nersa sets May 24 deadline for comment on overhauled SSEG exemption rules

By: Terence Creamer     9th May 2019 The National Energy Regulator of South Africa has finally released a consultation paper for an updated Licensing Exemption and Registration Notice for certain categories of small-scale embedded generators, which was submitted to the regulator for its concurrency by Energy Minister Jeff Radebe... 

Nersa sets May 24 deadline for comment on overhauled SSEG exemption rules

Nevada Copper finances Pumpkin Hollow underground project

By: Creamer Media Reporter      9th May 2019 TSX-listed copper developer Nevada Copper on Wednesday announced a range of financing agreements for the construction of its underground mine at Pumpkin Hollow, in the US, including a $115-million credit agreement from Germany’s KfW IPEX-Bank. Other financing includes a $35-million working... 

Indian crude oil import dependency surges to 84%

By: Ajoy K Das     9th May 2019 Rising consumption and falling domestic production has increased India’s crude oil import dependency to 83.7% during 2018/19, compared with 82.9% during previous financial year, data from Petroleum and Natural Gas Ministry has showed. Despite Prime Minister Narendra Modi’s ostensible target to... 

Vale iron-ore output, sales slump after deadly Brazil dam burst

By: Reuters     8th May 2019 Brazil's Vale said on Wednesday that its iron ore production and sales slumped in the first quarter from a year earlier, reflecting the impact of the deadly collapse of a tailings dam at Brumadinho in late January. Iron ore output fell 11% to 72.87-million tonnes while sales of the commodity... 

Barrick quarterly profit misses analysts' expectations

By: Reuters     8th May 2019 Barrick Gold, the world's second-largest gold producer, reported first-quarter profit on Wednesday that missed analysts' expectations. In Barrick's first quarter of operations since its acquisition of Randgold Resources, the company posted net income of $111-million, or 6c a share, compared with... 

Big Four miners languish amid demand, ESG, capex concerns

By: Reuters     8th May 2019 The world's biggest diversified miners have yet to see their share prices reflect their role as providers of the minerals needed for a shift to a low-carbon economy. Mining companies provide minerals such as cobalt used in electric vehicle batteries and copper for increased electrification, and... 

Big Four miners languish amid demand, ESG, capex concerns

Waterton agrees not to increase stake Hudbay to more than 15%

By: Reuters     8th May 2019 Private equity firm Waterton Global Resource Management on Tuesday said it agreed to not increase its stake in Hudbay Minerals to more than 15% after the private equity firm settled its drawn out proxy contest with the Canadian miner. Hudbay last week settled a board battle with its second... 

Australia's Pilbara Ports throughput drops 1% in April

By: Reuters     8th May 2019 Australia's Pilbara Ports Authority (PPA) said on Wednesday that throughput slipped 1% in April from year earlier. April's throughput was 58.8-million tonnes, the PPA said in a statement. 

DRC Minister backs Nzuri deal

By: Esmarie Iannucci     8th May 2019 The Minister of Mines for the Democratic Republic of Congo (DRC) has approved Chinese metals trader Chengtun Mining Group’s A$109.5-million cash offer for copper junior Nzuri Copper. Chengtun Mining is offering Nzuri shareholders 37c a share for their holding in the ASX-listed company, which... 

Gulf gets approval for DSO exports from Indonesia

By: Esmarie Iannucci     8th May 2019 The share price of ASX-listed Gulf Manganese soared by 20% on Wednesday on news that the Indonesian Ministry of Energy and Mineral Resources had approved the company’s plans to export direct shipping ore (DSO) from its manganese operations in the region. The approval covered 103 162 t/y of DSO. 

Processing operations start at Woodlawn

By: Esmarie Iannucci     8th May 2019 Ore processing at the Woodlawn zinc/copper mine, in New South Wales, has started, with the operation expected to progressively ramp up to an estimated throughput capacity of 1.5-million tonnes a year. ASX-listed Heron Resources on Wednesday told shareholders reclaimed tailings from hydraulic... 

Coal exports continue to drive Qld economy

By: Esmarie Iannucci     8th May 2019 Coal has continued to drive exports in Queensland, with the state government this week reporting an increase of 18.4% in the value of exports, which reached A$84.3-billion in the 12 months to March. “Yet again the value of Queensland’s merchandise exports over the year are larger than NSW and... 

Bardoc consolidated landholding near Kalgoorlie

By: Esmarie Iannucci     8th May 2019 Gold junior Bardoc Gold has moved to consolidated tenements in Western Australia, striking a deal with fellow listed Torian Resources to acquire a package of 40 tenements covering 49 km2 in and around its own 2.6-million ounce Bardoc gold project. The deal gives Bardoc full ownership of a... 

Pursuit sharpens focus on Swedish vanadium

By: Esmarie Iannucci     8th May 2019 Scoping studies into the Airijoki and Koitelainen vanadium projects, in Sweden and Finland respectively, have proven both projects to be financially robust, ASX-listed Pursuit Minerals said on Wednesday. The scoping studies assessed the potential for both Airijoki and Koitelainen to be developed... 

Middle Island issues a warning to Alto

By: Esmarie Iannucci     8th May 2019 Suitor Middle Island Resources has warned that a defeating condition has been triggered for its takeover offer of fellow-listed Alto Metals, after Alto announced a capital raise earlier this month. Alto has previously said that it would raise A$600 000 through a share placement to Alto... 

Hancock proves successful in Riversdale bid

By: Esmarie Iannucci     8th May 2019 Australian iron-ore major Hancock Prospecting has gained a shareholding of more than 85% in Canadian takeover target Riversdale Resources, triggering an increased offer price. Hancock earlier this week increased its cash offer for the unlisted Canadian coal company from A$2.20 a share to A$2.70... 

Hancock proves successful in Riversdale bid
Hancock chairperson Gina Rinehart

South Africa’s energy transition won’t be ‘just’ in absence of inclusive social dialogue  

By: Terence Creamer     7th May 2019 South African Federation of Trade Unions general-secretary Zwelinzima Vavi has called for urgent social dialogue on South Africa’s “inevitable” energy transition from coal to renewable energy, warning that the country’s current framework will fail to deliver a just outcome for workers and poor... 

South Africa’s energy transition won’t be ‘just’ in absence of inclusive social dialogue
Photo by Creamer Media
Saftu general-secretary Zwelinzima Vavi

Harte Gold receives permit for 800 t/d operation

By: Tasneem Bulbulia     7th May 2019 TSX-listed Harte Gold on Monday announced a total refinancing of its existing debt and receipt of approval to increase operational throughput from 540 t/d to 800 t/d at its Sugar Zone mine, in White River, Ontario. The senior debt financing package for $72.5-million would be provided by BNP... 

Global gold-backed ETF holdings register net outflows in year to date

By: Tasneem Bulbulia     7th May 2019 Holdings in global gold-backed exchange-traded funds and similar products fell across all regions by 57 t to 2 424 t, equivalent to $2.2-billion in outflows, in April, the World Gold Council said in a statement on Tuesday. Global assets under management in dollars fell by 3% to $100-billion, as... 

Pensana appoints RFC Ambrian as broker ahead of LSE listing

By: Marleny Arnoldi     7th May 2019 ASX-listed Pensana Metals has appointed RFC Ambrian as its broker and agent ahead of its planned listing on the LSE later this year. Ambrian’s role will be to provide ongoing support and guidance to the company regarding marketing of the company’s shares in the UK and Europe.  

Worley creating a force for the future of resources and energy 

By: Martin Creamer     7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... 

Worley creating a force for the future of resources and energy
Photo by Creamer Media Chief Photographer Dylan Slater
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.

ArcelorMittal to cut iron-ore output, slash jobs in Bosnia

By: Reuters     7th May 2019 ArcelorMittal will reduce output and cut 300 out of 800 jobs at its iron ore mines in Bosnia, the world's largest steelmaker said on Tuesday. Output will be reduced by a third to one-million tonnes and the job cuts will be carried out from September, it said in a statement. 

Kirkland Lake raises bottom-end of production guidance

By: Tasneem Bulbulia     7th May 2019 Dual-listed Kirkland Lake Gold has raised the lower end of its production guidance for the year, on the back of strong first-quarter results at the Macassa mine, in Canada, and Fosterville mine, in Australia. The miner now expects to produce at least 950 000 oz, Kirkland president and CEO Tony... 

Kirkland Lake raises bottom-end of production guidance
The Macassa mine, in Ontario.

US sinks Arctic accord due to climate change differences

By: Reuters     7th May 2019 The United States has refused to sign an agreement on challenges in the Arctic due to discrepancies over climate change wording, diplomats said on Tuesday, jeopardising cooperation in the polar region at the sharp edge of global warming. Temperatures in the Arctic are rising at twice the rate of... 

BHP faces $5bn claim over 2015 Brazil dam failure

By: Reuters     7th May 2019 Anglo-Australian mining giant BHP is facing a landmark, $5-billion damages claim in England for being "woefully negligent" in the run-up to a 2015 dam failure that led to Brazil's worst environmental disaster, a lawsuit alleges. The claim, which will be largest group action to be heard in... 

Drilling results indicate possible extension to New Luika's mine life

By: Tasneem Bulbulia     7th May 2019 The results of the first phase of a drilling campaign at the Bauhinia Creek deposit at Aim-listed Shanta Gold’s New Luika gold mine (NLGM) in Tanzania, identify positive intersections below the existing reserves that indicate that the existing underground decline may be continued and mine life... 

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