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Mining News

Mining sector unloved as investors find it hard to trust

By: Reuters     17th February 2018 Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took... 

Acacia Mining says valuing Tanzania mines for possible sale

By: Reuters     17th February 2018 Gold miner Acacia Mining confirmed on Friday it had begun to value its Tanzanian operations for a potential sale after expressions of interest from Chinese buyers. "The company is engaging with a small number of potential investors, the process remains at a very early stage and there can be no... 

US seeks to boost output of 35 minerals, reduce import reliance

By: Reuters     17th February 2018 The United States should boost domestic production of 35 critical minerals including uranium, cobalt and lithium, to reduce its reliance on foreign suppliers, the Interior Department said on Friday. Aluminium and potash are also on the draft list of 35 critical materials used in basic... 

US seeks to boost output of 35 minerals, reduce import reliance

Jobs summit announced as Ramaphosa delivers message of ‘hope and renewal’

By: Terence Creamer     16th February 2018 President Cyril Ramaphosa, who sought to align his nascent presidency as closely as possible with that of President Nelson Mandela in his inaugural State of the Nation (SoNa) address on Friday night, announced that a jobs summit would be convened in the coming months to allow social partners to... 

Jobs summit announced as Ramaphosa delivers message of ‘hope and renewal’
President Cyril Ramaphosa

South32 appoints chief technology officer

By: Simone Liedtke     16th February 2018 Vanessa Torres, who has over 25 years of experience in the mining and metals sector, has been appointed chief technology officer at diversified miner South32. "We see technology as a key enabler in driving safety and production improvements at our operations, and Vanessa's knowledge and... 

High Court to hear communities' arguments against Mining Charter on Monday

By: Simone Liedtke     16th February 2018 Mining community networks, which will represent over 150 activists and community-based organisations, will be in the Pretoria High Court from Monday next week to challenge the Mining Charter published by the Department of Mineral Resources in June last year. Mining Affected Communities United in... 

Yanfolila ramp-up on track - Hummingbird

By: Simone Liedtke     16th February 2018 Since first gold was poured at Aim-listed Hummingbird Resources' Yanfolila gold mine, in Mali, on December 19, the mine has steadily been ramping up towards full production, in line with the company's planned schedule. "I am pleased that activity on site is steadily progressing as per the ramp-up... 

Alrosa reviews submissions for Mir reopening

By: Simone Liedtke     16th February 2018 Diamond miner Alrosa has opened a contest with a 1.5-million-rouble reward for the best solution to resume underground mining at its Mir deposit, where operations were suspended in August last year owing to a flood that killed eight people. The company said this week that it had received and... 

Latin Resources secures lithium projects in San Luis, Argentina

By: Simone Liedtke     16th February 2018 ASX-listed mineral exploration company Latin Resources has secured 100% ownership of Condor lithium concessions in San Luis, Argentina, through the signing of a terms sheet with Kontrarian Resources Fund No 1. The concessions are in the vicinity of historic lithium mines. Smaller scale pegmatite... 

Mitsui to raise stake in Chile's Collahuasi copper mine

By: Reuters     16th February 2018 Japanese trading house Mitsui & Co said on Friday it will reshuffle its copper assets in Chile, increasing its stake in the Collahuasi mine and selling a small stake in the Los Pelambres mine, boosting its overall copper volumes. Mitsui said it would buy a 3.6% stake in Collahuasi from JX Nippon... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

Gold, platinum miners bolster business, operational plans 

     16th February 2018 It’s been an exciting week for some gold and platinum miners, with plans to improve business and operations. Mining Weekly editor Martin Creamer unpacks the headlines. 

Gold, platinum miners bolster business, operational plans
Gold, platinum miners bolster business, operational plans.

Test results support Cadoux project’s HPA flowsheet

By: Schalk Burger     16th February 2018 Metallurgical tests conducted as part of the prefeasibility study (PFS) at ASX-listed FYI Resources’ Cadoux Kaolin project, in Western Australia, have validated the high-purity alumina (HPA) flowsheet for the project. The outstanding metallurgical test results returned excellent leach extractions... 

Galantas planning appeal hearing concluded

By: Simone Liedtke     16th February 2018 An appeal brought by a third party against Aim- and TSX-V-listed gold producer and explorer Galantas Gold's planning consent for the Omagh gold mine development has completed the hearing stage. The Court of Appeal at the Royal Courts of Justice in Belfast, Northern Ireland, heard the appeal... 

Fortescue's Aboriginal programme hits A$2bn mark

By: Simone Liedtke     16th February 2018 Iron-ore major Fortescue Minerals' 'billion opportunities programme' has reached the A$2-billion-mark, with 250 contracts and sub-contracts having been awarded to 110 Aboriginal businesses and joint ventures in the seven years since its inception. CEO Nev Power said on Friday that the programme... 

Beowulf is back drilling at Aitolampi, Finland

By: Creamer Media Reporter      16th February 2018 Aim-listed Beowulf has started drilling at its Aitolampi graphite project, which forms part of the Pitkäjärvi 1 exploration permit in Finland. The company has plans to drill about 2 000 m, up to 15 drill holes, with the drilling programme split into two phases. The drilling contract has been... 

Petropavlovsk announces CFO resignation

By: Creamer Media Reporter      16th February 2018 London-listed miner Petropavlovsk has initiated a search for a new CFO, following the resignation of Audrey Maruta, who will depart from the company on April 1. Maruta will leave after the 2017 audited accounts are approved and will also provide consultancy services to Petropavlovsk for several... 

Birimian settles tax issues through full disclosure

By: Schalk Burger     16th February 2018 ASX-listed lithium and gold exploration company Birimian has settled with the Australian Tax Office (ATO), which waived all penalties in relation to tax obligations after the Mali-focused company made voluntary disclosures of all its financial statements since August. The penalties were in... 

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 Gobal equity markets have been extremely volatile in recent weeks, extending a frantic sell-off of US stocks, which culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Rio Tinto considering power options for Oyu Tolgoi

By: Mariaan Webb     16th February 2018 Global miner Rio Tinto is considering its options for domestic power generation for the Oyu Tolgoi mine, including building an on-site power station, the company said on Friday, as it confirmed that the government of Mongolia had terminated a framework agreement for an energy plan for the South... 

Rio Tinto considering power options for Oyu Tolgoi
Rio Tinto has to find a domestic power source for Oyu Tolgoi within four years.

BHP Billiton expects drilling of first new Trion well to begin in October

By: Reuters     16th February 2018 Drilling of the first new exploration well in BHP Billiton's deepwater Trion project will begin in October, part of a plan approved by Mexican regulators on Thursday that also revised downward the project's estimated oil and gas resources. Australian mining and oil giant BHP Billiton won the... 

Top banks' 2017 commodities revenue drops 42% to lowest since 2006

By: Reuters     16th February 2018 Commodities-related revenue at the 12 biggest investment banks fell by 42% last year to its lowest since at least 2006, a report by financial industry analytics firm Coalition said on Friday. 

Tahoe lifts global gold reserves by 400 000 oz

By: Henry Lazenby     16th February 2018 Canadian precious metals miner Tahoe Resources has increased its global gold reserve base by about 12% or 399 000 oz in 2017, to about 3.7-million ounces of yellow metal, the company announced on Thursday. Vancouver-based Tahoe advised that, in 2017, it added 888 000 oz of new gold mineral... 

Canada's oil sands output to grow despite record-low investment, export bottlenecks

By: Henry Lazenby     16th February 2018 Canada's oil sands output is expected to continue on its upwards trajectory despite investment in the sector lagging behind historical levels, a recent report has found. Oil sands production in Canada's oil patch of Alberta is expected to grow through the next decade, albeit at a slower rate than... 

Volatility, improving supply erase year-to-date index gains

By: Henry Lazenby     16th February 2018 The Materials Price Index (MPI) from Global Insight by IHS Markit has fallen back to levels at which it started the New Year, as a return of volatility shook markets again last week, dampening appetites for risk and souring the exuberant mood that has prevailed this year. The MPI plunged 3% last... 

Nautilus completes production tools sea trials in PNG

By: Henry Lazenby     16th February 2018 Marine mining pioneer Nautilus Minerals has successfully completed submerged trials for its seafloor production tools (SPTs), in Papua New Guinea. "The overarching objective of the trials was to ensure that all three machines met the requirements of their respective functional design... 

Nautilus completes production tools sea trials in PNG
Photo by Nautilus Minerals
One of the SPTs under evaluation in Papua New Guinea

Mining Weekly iPhone and Android Apps available for free download 

     16th February 2018 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 MiningWeekly.com app for iPhone and Android users.  These apps offer... 

Mining Weekly iPhone and Android Apps available for free download

Contract duration key to hybrid-power-for-mines investment case

By: Terence Creamer     15th February 2018 Alignment between a mine’s life and the tenor of a power purchase agreement (PPA) has been held up as the main consideration for those mining operations considering investments into hybrid power solutions, which combine renewable energy and battery storage with gas or diesel generators. Speaking... 

Contract duration key to hybrid-power-for-mines investment case
The hybrid installation at the DeGrussa copper-gold mine in Western Australia

Botswana Diamonds undertakes scoping study at Thorny River

By: Megan van Wyngaardt     15th February 2018 Aim-listed Botswana Diamonds has started a scoping study to determine the commercial potential of the Thorny River diamond project, which is a consolidation of the Frischgewaagt, Hartbeesfontein and Doornrivier properties, in Limpopo. The six-month study will further refine the volumes of... 

Polyus sold more gold last year to bailed-out bank Otkritie

By: Reuters     15th February 2018 Russia's largest gold producer Polyus sold more gold last year to Otkritie bank, which was rescued last August by the country's central bank, Polyus's 2017 management report showed on Thursday. Russian gold producers usually sell their product to Russian banks which then sell it on to the... 

DRDGold lifts H1 profit on higher production

By: Megan van Wyngaardt     15th February 2018 Dual-listed gold recovery company DRDGold on Thursday posted a 27% year-on-year increase in operating profit to R219.9-million for the six months ended December  31, on the back of an 11% year-on-year increase in gold production to 75 267 oz. The company, which is working to add... 

DRDGold lifts H1 profit on higher production

Pretorius sees WRTRP transaction as an investment

By: Megan van Wyngaardt     15th February 2018 Johannesburg-focused gold processor DRDGold is hoping that the addition of the West Rand tailings retreatment project (WRTRP), currently the subject of a R13-billion deal with Neal Froneman-led Sibanye-Stillwater, will attract longer-term investors, which might still be deterred by "extreme... 

Pretorius sees WRTRP transaction as an investment
Photo by Duane Daws
DRDGold CEO Niël Pretorius

South32 announces special dividend after stronger-than-expected H1

By: Simone Liedtke     15th February 2018 Diversified miner South32 will return more money to shareholders, after reporting a stronger-than-expected $543-million underlying profit for the first half of the 2018 financial year. This meant that dividends to shareholders would be doubled. 

South32 announces special dividend after stronger-than-expected H1
Photo by Duane Daws
South32 CEO Graham Kerr

Pembridge buys producing copper mine from Capstone

By: Mariaan Webb     15th February 2018 LSE-listed Pembridge Resources is set to be transformed into a cash flow generating copper producer with the acquisition of the Minto openpit copper/gold/silver mine in Yukon, Canada. Pembridge, which August last year moved from the Aim to LSE main board, on Thursday announced that it had signed... 

Pembridge buys producing copper mine from Capstone
Photo by Capstone Mining
A 2015 photo of the Minto mine, in Yukon.

Zambia's President Lungu appoints new finance, mining ministers

By: Reuters     15th February 2018 Zambian President Edgar Lungu appointed new finance and mining ministers in a reshuffle on Wednesday that included changes in numerous other departments as well. Margaret Mwanakatwe was appointed finance minister while Richard Musukwa was named minister of mining, the government said in a... 

Stratex strikes exploration deal in Turkey

By: Mariaan Webb     15th February 2018 Aim-quoted Stratex has signed an exploration agreement with a local Turkish company TET Madencilik (TET), which has committed to spend up to $1.5-million on exploration and drilling at the Hasançelebi and Doğala projects in the next two years. The projects have been noncore to Stratex’s portfolio... 

ABM, Thunderbird JV to accelerate potential for discovery North Arunta

By: Anine Kilian     15th February 2018 ASX-listed ABM Resources has agreed to extend the period for Thunderbird Metals raising a minimum of $0.5-million to March 31, for the joint venture (JV) exploration agreement of the North Arunta project, in the Northern Territory. Thunderbird will earn a 51% interest in the project by spending... 

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