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Mining News

Pakistan ordered to pay Antofagasta-Barrick venture $5.84bn in damages

By: Creamer Media Reporter 15th July 2019 The World Bank’s International Centre for Settlement of Investment Disputes has awarded a joint venture between London-listed Antofagasta and Toronto-listed Barrick Gold $5.84-billion in damages. The joint venture, Tethyan Copper Company (TCC), has filed for damages against the government of... →

Canada's Belo Sun touts procedural win but Brazil gold mine still on hold

By: Reuters 15th July 2019 Belo Sun Mining said on Friday it had won a legal victory in its push to mine the country's largest undeveloped gold deposit in the Amazon rainforest, which has drawn criticism from environmentalists and indigenous advocates. But the public prosecutor's office that is seeking to block the mine... →

Uranium market activity seen returning to 'more normal' levels

By: Mariaan Webb 15th July 2019 London-listed uranium fund Yellow Cake said on Monday that activity in the uranium market should pick up in the near term, following US President Donald Trump’s decision at the weekend to steer clear from imposing import tariffs on uranium. The Section 232 investigation, which started early last... →

MC secures funding for Makhado Phase 1 construction

By: Tasneem Bulbulia 15th July 2019 The Industrial Development Corporation of South Africa’s (IDC’s) credit committee has approved a R245-million loan facility for ASX-, Aim- and JSE-listed MC Mining for the construction of Phase 1 of its Makhado hard coking coal project, in South Africa’s Limpopo province. The term loan reaffirms... →

Photo by Creamer Media's Dylan Slater
MC CEO David Brown

PGMs eyed to elevate battery tech to new heights

By: Marleny Arnoldi 15th July 2019 JSE-listed Anglo American Platinum (Amplats) and TSX-listed Platinum Group Metals (PTM) have launched a joint venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium. Lion has subsequently entered into an agreement with... →

Photo by Creamer Media's Dylan Slater
Amplats market development head Benny Oeyen

Canadian, Australian miners cheer Trump’s uranium import decision

By: Mariaan Webb 15th July 2019 US President Donald Trump’s decision to back away from implementing new trade restrictions on uranium imports into the US has won praise from Canadian and Australian producers, which argue that the uranium they supply is not a threat to US national security. Trump has rejected the recommendation... →

US President Donald Trump

Oz Minerals signs up for Maslins exploration

By: Esmarie Iannucci 15th July 2019 Copper and gold miner Oz Minerals will spend up to A$10-million at the Maslins iron-oxide copper gold (IOCG) project, in South Australia, to earn a 70% stake. The agreement with ASX-listed Investigator Resources would require Oz Minerals to commit to a A$1.4-million minimum spend on the project... →

MCA welcomes US uranium decision

By: Esmarie Iannucci 15th July 2019 The Minerals Council of Australia has welcomed US President Donald Trump’s decision not to impose quotas on uranium imports, following an investigation by the US Department of Commerce into foreign imports of uranium. Trump rejected findings by the Commerce Secretary that foreign uranium posed... →

Troy ticks the box in full year

By: Esmarie Iannucci 15th July 2019 Gold miner Troy Resources on Monday reported that despite missing its quarterly production targets, the Karouni mine, in Guyana, had reached its full-year potential. The ASX-listed Troy reported that gold production during the three months to June had reached 11 567 oz, slightly below the... →

Lucapa on track for profits in 2019

By: Esmarie Iannucci 15th July 2019 Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up. Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three... →

Bass reports record quarter

By: Esmarie Iannucci 15th July 2019 Graphite miner Bass Metals has reported a record quarter during the three months to June from its Graphmada mine, in Mozambique. The company on Monday reported that a record 32 000 t of ore was processed during the quarter, with 1 005 t of graphite produced at a benchmark quality of more than... →

Adani wins native title battle

By: Esmarie Iannucci 15th July 2019 The Federal Court of Australia has dismissed a native title challenge to Indian major Adani’s Carmichael coal project, in Queensland. The Wangan and Jagalingou (W&J) People in 2016 voted 294 to 1 in favour of an indigenous land use agreement for the Carmichael project, with the agreement inked... →

Fading US utility demand for coal to hit Powder River Basin hardest

By: Mariaan Webb 12th July 2019 While the outlook for the US coal industry over the next 12 to 18 months is stable, fading utility demand in the 2020-to-2030 decade will drive the ongoing contraction of the domestic coal industry, presenting a significant challenge for US coal miners. Last year, utilities consumed about 84% of... →

Jubilee completes Sable Zinc refinery acquisition

By: Nadine James 12th July 2019 Aim-listed metals processing company Jubilee Metals Group on Thursday confirmed the completion of its acquisition of the Sable Zinc Kabwe refinery, in Zambia. “I am delighted that we have successfully achieved all conditions precedent for the implementation of the Sable Zinc Kabwe acquisition,... →

WearCheck acquires reliability testing company, boosts services

By: Simone Liedtke 12th July 2019 Durban-based condition monitoring specialist WearCheck has bought Anglo Field Services (AFS), adding three new established divisions to the company’s reliability solutions portfolio, including nondestructive testing (NDT), technical compliance (TC) and rope condition assessment (RCA). The fourth... →

WearCheck MD Neil Robinson

Caledonia on track to achieve full-year guidance

By: Tasneem Bulbulia 12th July 2019 Caledonia Mining’s Blanket mine, in Zimbabwe, produced 12 712 oz of gold in the second quarter ended June 30. While this was slightly below target, it was ahead of the 12 657 oz produced in the second quarter of 2018 and was also still at a level at which Caledonia was comfortable that it could... →

De Beers reports successful second translocation of elephants

By: Simone Liedtke 12th July 2019 The second translocation of elephants from diamond miner De Beers’ Venetia Limpopo Nature Reserve (VLNR), in South Africa, to Zinave National Parks, in Mozambique, has been completed. The first herds of elephants were corralled at the VLNR on June 25, before being transported by road for about 1... →

Pan African exceeds full-year production guidance

By: Simone Liedtke 12th July 2019 Africa-focused metals producer Pan African Resources has exceeded its full-year production guidance of 170 000 oz, with output up 7.5% year-on-year to 172 442 oz. This has seen Pan African emerging as a “safe, low-cost and long-life gold producer”, CEO Cobus Loots said on Friday. →

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Pan African Resources CEO Cobus Loots

IEA sees oil market oversupplied in 2019 on US production

By: Reuters 12th July 2019 Surging US oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said on Friday. The forecasts appear to predict the need for producer club Opec and its allies to reduce production to balance... →

Lepidico settles Desert Lion buy

By: Esmarie Iannucci 12th July 2019 ASX-listed Lepidico has settled its plans to acquire TSXV-listed Desert Lion Energy, after shareholders in the Canadian company approved the share offer. Lepidico in May this year launched a takeover offer for Desert Lion, offering 5.4 of is own shares for every one Desert Lion share held to... →

Cornish Lithium gets crowdfunding behind Cornwall project

By: Mariaan Webb 12th July 2019 British mining company Cornish Lithium has turned to crowdfunding to raise £1-million for drilling at its lithium project in Cornwall, south-west England, further advancing its strategy of opening a domestic source of the strategic mineral. This is the first UK crowdfunding in the mining sector... →

Pan African condemns protest action affecting Barberton Mines

By: Simone Liedtke 12th July 2019 Africa-focused Pan African Resources’ Barberton Mines has lost a number of production days as a result of protest action, which the miner says is unrelated to normal industrial action. In a statement issued on Friday, Pan African said it would take the appropriate action to protect its employees... →

Protest action at Barberton sees mine property being destroyed, including the burning of mine vehicles and ore concentrate trucks

Marquee pulls trigger on Argentina investment

By: Esmarie Iannucci 12th July 2019 The shareholders of ASX-listed junior Marquee Resources will meet on August 15 to vote on the acquisition of lithium hopeful Centenario Lithium, after the company took the decision to complete the acquisition agreement. Marquee in June this year announced plans to enter into the lithium triangle... →

Rio unveils pink diamond tender

By: Esmarie Iannucci 12th July 2019 Diversified miner Rio Tinto has unveiled its latest tender from the Argyle diamond mine, in the Kimberley region of Western Australia, as the operation nears the end of its life cycle. The 64-diamond collection includes three Fancy Red diamonds and weighs a combined 56.28 ct. →

African govts’ mining policies perpetuating boom-and-bust cycle

By: Nadine James 12th July 2019 After a protracted period of consolidation, cost reduction initiatives and suspended dividends, the global mining sector is today in far better shape than it was during the years that followed the 2008/9 financial crisis and the subsequent commodities crash, notes Herbert Smith Freehills South... →

Peninsula merges South Korean assets

By: Esmarie Iannucci 12th July 2019 ASX-listed Peninsula Mines has struck an agreement with Korea’s Battery Minerals Resources to merge all of their respective South Korean tenements into one company that would be dubbed Korea Graphite Company. On completion of the merger, Battery Mineral Resources will hold a 55% interest in the... →

Another domestic gas deal struck on east coast

By: Esmarie Iannucci 12th July 2019 ASX-listed Cooper Energy has signed a new gas supply agreement for 6.7 PJ of gas from its Sole project over a three year period, starting in January next year. The agreement with packaging and resource recovery company Visy, can be extended for a further three years. →

WA govt backs BHP's long-term iron-ore expansion plans

By: Esmarie Iannucci 12th July 2019 The Western Australian government has approved mining major BHP’s long-term plans for its Pilbara iron-ore operations, which includes a potential 11 more iron-ore projects over the next 50 to 100 years. BHP's 'Pilbara Expansion Strategic Proposal' details a cumulative picture of the miner's... →

Gran Colombia hikes 2019 production target

By: Creamer Media Reporter 11th July 2019 Colombia’s largest underground gold and silver producer, TSX-listed Gran Colombia, has increased its guidance for 2019 to between 225 000 oz and 240 000 oz. The new guidance compares with a previous range of 210 000 oz to 225 000 oz, and follows a strong six-month period. →

Investment, central bank demand to remain robust – WGC

By: Nadine James 11th July 2019 The World Gold Council (WGC) expects consumer demand to trend lower for the remainder of this year, but investment demand is likely to remain robust, while central banks continue their net purchasing trend. In its ‘Mid-Year Outlook’ report, released on Thursday, the WGC noted that financial... →

Gordhan says draft Eskom unbundling White Paper to be finalised soon

By: Terence Creamer 11th July 2019 Public Enterprises Minister Pravin Gordhan says a draft White Paper outlining government’s approach to the unbundling of State-owned power utility Eskom, as well as how its “unsustainable” debt burden will be managed, is being prepared and should be finalised within weeks. Gordhan made the... →

Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

South Africa's manufacturing, mining subdued as growth burden shifts to central bank

By: Reuters 11th July 2019 South Africa's manufacturing output grew only slightly in May while the slump in mining continued, albeit more moderately, shifting attention back onto the central bank to stimulate growth in an economy bleeding jobs. Factory output rose 1% year-on-year in May while mining production fell 1.5%... →

IRP will serve before Cabinet only in September as Nedlac process drags on

By: Terence Creamer 11th July 2019 The long-awaited update to the Integrated Resource Plan for electricity is only likely to serve before Cabinet in September, Mineral Resources and Energy Minister Gwede Mantashe reported on Thursday. The minister said that the draft IRP was still being considered by the social partners at the... →

Mineral Resources and Energy Minister Gwede Mantashe

SSR Mining on track for higher yearly gold production

By: Creamer Media Reporter 11th July 2019 Precious metals miner SSR Mining, which operates mines in the US, Canada and Argentina, expects to meet or exceed its yearly production guidance for the eighth consecutive year, following a strong first half of 2019. The company is on track for higher yearly gold production, having produced more... →

New Gold reports in-line quarterly results

By: Creamer Media Reporter 11th July 2019 Intermediate gold miner New Gold produced 132 556 gold-equivalent (GEO) ounces in the second quarter, comprising 82 516 oz of gold and 21.6-million pounds of copper, from its two mines in Canada. The quarter marked the third consecutive quarter that the company achieved in-line results, CEO... →

Fuel cells presenting mining, manufacturing with compelling opportunity – Isondo

By: Martin Creamer 11th July 2019 If South Africans make use of their superior sunlight and their prime wind, they can generate a lot of carbon-free electricity at a cost potentially cheaper than when Eskom burns coal and pollutes the air. That, in itself, is in line with the world’s decarbonisation demands. But there is more.... →

Photo by Creamer Media's Dylan Slater
Isondo Precious Metals COO Dr Sakib Khan

Africa adds risk to Barrick portfolio, but Bristow is positive – Fitch

By: Mariaan Webb 11th July 2019 The acquisition of mines in Africa through a merger with Randgold Resources early this year, has raised the overall risk of Toronto-headquartered Barrick Gold’s mining portfolio, but analysts at Fitch Solutions believe that South African geologist Mark Bristow, who has a track record of operating... →

Barrick Gold CEO Mark Bristow

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