R/€ = 16.14 Change: 0.06
R/$ = 14.42 Change: 0.06
Au 1281.10 $/oz Change: 6.41
Pt 806.42 $/oz Change: 5.52

Mining News

Savannah eager to benefit from France, Germany battery consortium

By: Marleny Arnoldi     14th May 2019 Aim-listed Savannah Resources has welcomed France and Germany’s establishment of a European cross-border battery cell consortium. The consortium aims to develop next-generation batteries for electric vehicles.  

Sierra Metals still expects to meet 2019 guidance despite strike

By: Marleny Arnoldi     14th May 2019 Despite losing 12 days of production to an illegal strike at the Yauricocha mine, in Peru, and reporting a slower-than-expected ramp up of throughput at its Mexico mines, Sierra Metals still expects to achieve its 2019 production guidance, CEO Igor Gonzales said on Tuesday. The TSX-listed miner... 

Higher export prices, weaker exchange rate to underpin Kumba’s interim financials

By: Simone Liedtke     14th May 2019 JSE-listed Kumba Iron Ore expects to deliver a stronger financial performance, underpinned by higher average iron-ore export prices and a weaker rand:dollar exchange rate for the six months ending June 30. Headline earnings and basic earnings for the period are expected to increase by 160%... 

Stornoway targets up to C$20m in cost reductions to preserve liquidity

By: Marleny Arnoldi     14th May 2019 Canadian miner Stornoway Diamond Corporation has initiated a series of actions to preserve its liquidity, including targeted cost reductions of C$18-million to C$20-million this year. The miner, which operates the Renard mine in Quebec, said on Monday that the continued downward pressure on the... 

BHP admits to ‘over-investing’ in Canada mine, but says Jansen remains attractive

By: Esmarie Iannucci     14th May 2019 Diversified miner BHP on Tuesday admitted to an overspend at the Jansen potash mine, in Canada, but CEO Andrew Mackenzie has argued that the project remains an attractive asset. The mining giant has already spent $2.7-billion on the potash project, east of Saskatoon, Saskatchwan, and will have... 

BHP admits to ‘over-investing’ in Canada mine, but says Jansen remains attractive
The Jansen mine shaft in Canada's Saskatchewan

Core Gold to vote on Titan merger

By: Esmarie Iannucci     14th May 2019 The shareholders of TSX-V-listed Core Gold are expected to vote on June 12 on the C$72-million merger proposed by ASX-listed Titan Minerals. Under the merger agreement struck earlier this year, each Core shareholder will receive 20 fully paid ordinary shares in Titan, for every one Core share... 

Green light for Rio Tinto’s West Angelas expansion in the Pilbara

By: Esmarie Iannucci     14th May 2019 The Western Australian Environmental Protection Authority has approved plans by mining major Rio Tinto to expand opencut mining at its West Angelas mine, in the Pilbara. Rio, and its joint venture partners Mitsui and Nippon Steel & Sumitomo Metal, in October last year approved a $579-million... 

Centrex signs another offtake agreement

By: Esmarie Iannucci     14th May 2019 ASX-listed Centrex Metals has inked a second offtake agreement for phosphate rock concentrate from its Ardmore project, in Queensland. Centrex has reached an agreement with New Zealand fertilizer group Ballance Agri-Nutrients to supply some 5 000 t of concentrate, which will be produced as part... 

Caledonia’s lower first-quarter production offset by FX gains, disposal

By: Marleny Arnoldi     14th May 2019 Gold miner Caledonia Mining, which owns 49% of the Blanket mine, in Zimbabwe, produced 11 948 oz of gold in the quarter ended March 31, an 8% year-on-year decrease as a result of lower grades but in line with expectations. Its consolidated operating profit before tax for the quarter, however,... 

Fortescue soars on new dividend payment

By: Esmarie Iannucci     14th May 2019 The share price of iron-ore miner Fortescue Metals jumped more than 7% on Tuesday after the company announced a fully franked dividend of 60c a share. The new dividend brought the total amount of dividends for the 2019 financial year to date to 90c a share, inclusive of the 19c a share interim... 

Oz Minerals to loan-carry Minotaur to production

By: Esmarie Iannucci     14th May 2019 Copper/gold miner Oz Minerals and fellow listed Minotaur Exploration have struck a number of agreements over Minotaur’s tenement holdings in Queensland. Following Oz Minerals obtaining a 70% interest in the Eloise copper/gold joint venture (JV), by investing A$10-million in the project, the two... 

Resolute gets nine new licenses at Ravenswood

By: Esmarie Iannucci     14th May 2019 Gold miner Resolute Mining has been awarded nine new mining leases over areas that will support its A$150-million Ravenswood expansion project, in Queensland. The miner said that the leases included areas within the operational footprint of the proposed Buck Reef West openpit and nearby land... 

A$1bn Olive Downs coking coal mine cleared for development

By: Esmarie Iannucci     14th May 2019 The Queensland government has approved the proposed A$1-billion Olive Downs metallurgical coal mine being developed by Pembroke Resources. The Stage 1 project is expected to require a capital spend of A$450-million and will produce 4.5-million tonnes a year of steelmaking coal, which will be... 

A$1bn Olive Downs coking coal mine cleared for development

Global energy investment out of step with security of supply, climate needs  

By: Terence Creamer     14th May 2019 A new report on global energy investment in 2018 points to an ongoing misalignment between approved expenditure on new fuel and power projects and meeting the twin goals security of supply and decarbonisation. The International Energy Agency’s (IEA’s) ‘World Energy Investment 2019’ report,... 

Global energy investment out of step with security of supply, climate needs
IEA executive director Fatih Birol

Cairns’ exploratory drilling in southern India triggers political storm in election season

By: Ajoy K Das     14th May 2019 Cairns Oil & Gas, an arm of London-headquartered Vedanta, has been granted approval to conduct an environmental impact assessment (EIA) for oil and gas exploration in the southern states of Tamil Nadu and Puducherry, triggering a political storm in this election season. The Indian government gave... 

Rio Tinto partners with junior to explore Saskatchewan copper project

By: Creamer Media Reporter      13th May 2019 Diversified mining group Rio Tinto has been granted an option to acquire a majority interest in the Janice Lake copper project, in Canada’s Saskatchewan. Rio Tinto Exploration Canada (RTEC) has to commit to spending $3-million on exploration at the Janice Lake project over the next... 

Noront expects ‘lengthy’ enviro permitting phase for ferrochrome plant

By: Mariaan Webb     13th May 2019 Development company Noront Resources has settled on a site for the ferrochrome plant that it plans to build to treat ore from its chromite mines in the emerging Ring of Fire camp, but the junior is expecting “lengthy” environmental assessment phase and says commissioning of the facility is still... 

Gemfields warns about forced illegal mining ‘slavery’ in Mozambique

By: Marleny Arnoldi     13th May 2019 London-based Gemfields warned in a statement on Monday that illegal miners were putting their lives at risk and facing “modern slavery” in Mozambique, where the company owns 75% of Montepuez Ruby Mining (MRM). The coloured gemstones miner has observed increasing numbers of illegal miner pit... 

Copper production in Peru, Panama to offset lower output in Indonesia, Zambia

By: Marleny Arnoldi     13th May 2019 After having grown by 2.5% in 2018, global copper production is expected to remain essentially unchanged this year, but will grow by 1.9% in 2020, the International Copper Study Group (ICSG) said in its ‘Copper Market Forecast for 2019/20’, released on Monday. ICSG met with global copper... 

South Africa urged to use seasonal advantage to secure lower LNG prices from Mozambique 

By: Terence Creamer     13th May 2019 South Africa is failing to fully grasp the energy and economic significance of the impending development of the enormous gas reserves discovered in northern Mozambique since 2010, Standard Bank oil and gas specialist Paul Eardley-Taylor argues. Between 150- to 200-trillion cubic feet of gas has... 

South Africa urged to use seasonal advantage to secure lower LNG prices from Mozambique

ABM, Kalahari collaborate on Molopo Farms Complex exploration

By: Marleny Arnoldi     13th May 2019 Aim-listed African Battery Minerals (ABM) has entered into an earn-in agreement over a base metals and platinum group metals (PGMs) exploration opportunity in Botswana. ABM has acquired an 18.2% interest in Kalahari Key Mineral Exploration, which owns the Molopo Farms Complex project, for $194... 

Caledonia seeks clarity on gold support price in Zimbabwe

By: Marleny Arnoldi     13th May 2019 Caledonia Mining has requested clarity from Fidelity Printers & Refiners, in Zimbabwe, regarding a proposed new gold support price. Caledonia currently sells its gold production, through its Blanket Mine subsidiary, to Fidelity and is contractually entitled to receive a price that is derived... 

Platinum market set to move into deficit this year – Johnson Matthey 

By: Marleny Arnoldi     13th May 2019 The platinum market is expected to move into deficit this year, with a resurgence in investor activity to outweigh modest falls in industrial and jewellery demand, says Johnson Matthey in its latest platinum group metals market report. The science multinational company expects a tentative... 

Platinum market set to move into deficit this year – Johnson Matthey

Browns Range to benefit from WA infrastructure spend

By: Esmarie Iannucci     13th May 2019 Rare earths producer Northern Minerals is set to benefit from a A$51-million capital allocation by the Western Australian government to upgrade roads in the East Kimberley region. The miner on Monday said that the upgrades of the Duncan road and Gordon Downs road in the East Kimberley would... 

Mt Cattlin has record month

By: Esmarie Iannucci     13th May 2019 Lithium miner Galaxy Resources has reported a record month of production at its Mt Cattlin operation, in Western Australia, with the project producing 21 910 t of lithium concentrate in April. The April production represented an annualised run rate of some 260 000 t/y. 

TNG ticks offtake box at Mt Peake

By: Esmarie Iannucci     13th May 2019 ASX-listed TNG has inked a binding life-of-mine offtake and marketing agreement for all of the titanium dioxide pigment to be produced at its Mt Peake vanadium/titanium/iron project, in the Northern Territory. “This is a really exciting milestone for TNG and marks the formalisation of our strong... 

Aus Tin gets approval for Taronga Stage 1

By: Esmarie Iannucci     13th May 2019 Junior Aus Tin Mining is planning to start initial mining at its Taronga Stage 1 operation, in New South Wales, before the end of June, after receiving approval of its mining operations plan from the state’s Department of Planning and Environment. The A$3-million Stage 1 project would trial mine... 

RNC pulls the trigger on Higginsville buy

By: Esmarie Iannucci     13th May 2019 TSX-listed RNC Minerals has exercised its option over the Higginsville gold operation, in Western Australia, in a A$50-million deal with ASX-listed Westgold Resources. Under a March agreement, RNC would acquire the Higginsville operation in exchange for A$25-million in cash and A$25-million in... 

Queensland holds up Adani mine with fresh groundwater review

By: Esmarie Iannucci     13th May 2019 The Queensland Department of Environment and Science (DES) has launched a further review of the groundwater management plan for Indian major Adani’s $16.5-billion Carmichael coal project. The federal government in April approved the groundwater plan based on an independent assessment from the... 

Queensland holds up Adani mine with fresh groundwater review

Zimbabwe starts rolling power cuts, hitting mines, industry

By: Reuters     13th May 2019 Zimbabwe has started rolling power cuts lasting up to eight hours that will also hit mines, a schedule from the State power utility showed on Monday, after reduced output at both the largest hydropower plant and ageing coal-fired generators. The power cuts will add to mounting public anger... 

Australian Vanadium finds commercial option for Coates

By: Esmarie Iannucci     13th May 2019 The share price of ASX-listed Australian Vanadium increased by nearly 17% on Monday after the company signed a joint venture agreement to develop the Coates vanadium project, in Western Australia. Under the terms of the agreement, privately held Ultra Power Systems (UPS) would be given exclusive... 

First-quarter platinum demand up 32% on surge in ETF holdings  

By: Nadine James     13th May 2019 Platinum demand increased by 32% year-on-year to 2.56-million ounces in the first quarter of this year, following a surge in investment demand, the World Platinum Investment Council noted in its latest ‘Platinum Quarterly’ report, released on Monday. Investment demand was high enough to offset... 

First-quarter platinum demand up 32% on surge in ETF holdings

Palladium's price gap over platinum needs to shrink – Nornickel 

By: Reuters     13th May 2019 The price gap between palladium and its sister metal platinum needs to shrink as number one platinum producer South Africa requires a higher price for the metal to keep investing in new supply, Russia's Norilsk Nickel said. Norilsk is the number one producer of palladium, accounting for more than... 

Indian mining industry seeks SPV route for speedier auction of new mineral blocks

By: Ajoy K Das     13th May 2019 Indian industry representative bodies have requested that states first secure all regulatory approvals, such as environmental, forest and surface rights, for mineral assets, put into special purpose vehicle (SPVs), that go up for auction. The industry bodies argue that such a process will shorten... 

Without US-China trade war, copper price would be higher – Antofagasta chair

By: Reuters     13th May 2019 A trade war between the US and China is depressing the price of copper and the red metal would be 5% to 15% higher without the dispute, the chairperson for Chile's Antofagasta told a Chilean newspaper on Sunday. "Without the commercial war, I am convinced that the price of copper would be... 

Vale CFO says hopes to restore lost output within two to three years

By: Reuters     13th May 2019 Brazilian miner Vale expects to restore capacity lost after the deadly Brumadinho tailings dam burst within two to three years, executives said on Friday, emphasizing that the company is not rushing to resume full output. The dam's collapse, which came a little over three years after a similar... 

Vale CFO says hopes to restore lost output within two to three years
Vale CFO Luciano Siani

Livent executives to exit after lithium forecast slashed

By: Reuters     13th May 2019 Philadelphia-based Livent said on Friday that two senior executives were leaving to pursue other opportunities, coming just days after the lithium producer cut its 2019 forecast and warned that demand was slipping for a version of the white metal it produces. Livent said chief growth officer... 

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