R/€ = 14.60 Change: -0.05
R/$ = 12.47 Change: -0.05
Au 1304.29 $/oz Change: 8.59
Pt 913.00 $/oz Change: 4.60

Mining News

Australia’s energy sector should leverage automation and technology to boost competitiveness

Updated 21 minutes ago Australia’s energy resources sector could unlock a potential A$10-billion in value to the national economy if it pursues a number of transforms, a report by National Energy Resources Australia (Nera) has found. In its 2018 update to the ‘Sector Competitiveness Plan’, Nera identified... 

Paladin mothballs Namibia uranium mine

By: Esmarie Swanepoel     Updated 23 minutes ago Dual-listed Paladin Energy on Friday confirmed that its Langer Heinrich uranium mine, in Namibia, was being placed on care and maintenance, but said that the low-cost openpit operation would be one of the first to resume production when the uranium market normalised. Paladin in April said that... 

Myanmar fully funded to exercise Bawdwin option

By: Esmarie Swanepoel     Updated 30 minutes ago ASX-listed explorer Myanmar Metals has struck a A$14.9-million investment deal with base metals producer Perilya, which it would fund the company’s share of the option exercised over the Bawdwin lead/zinc/silver mine, in Myanmar. Myanmar earlier this week issued formal notice to Win Myint Mo... 

Five killed, including 2 Congolese security forces, in attack on Banro mine

By: Reuters     Updated 47 minutes ago Five people were killed, including two Congolese security forces, and several company workers wounded in an attack on Banro Corp's east Congo gold mine, a Banro official told Reuters. A Mai Mai militia attacked Banro Corp's east Congo Namoya gold mine on Thursday. 

Russian diamond producer Alrosa says H1 sales to exceed initial expectations

By: Reuters     Updated 59 minutes ago Russia's Alrosa, the world's largest producer of rough diamonds in carat terms, said on Thursday first-half sales would be significantly higher than it originally planned due to market strength. Speaking on the sidelines of the St Petersburg economic forum, Alrosa chief executive Sergey Ivanov... 

Sanctioned tycoon Deripaska resigns as director of his firm Rusal

By: Reuters     Updated 1 hour 2 minutes ago Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the US government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing... 

Copper Mountain sets aside cash for Cloncurry exploration

By: Esmarie Swanepoel     Updated 1 hour 5 minutes ago The board of ASX- and TSX-listed Copper Mountain Mining has approved a A$5-million budget for exploration work at the Cloncurry project, in Queensland. The company said on Friday that the planned work programmes would include follow-up drilling on discoveries made in 2017, as well as testing of... 

Fortescue repays more debt

By: Esmarie Swanepoel     Updated 1 hour 6 minutes ago Iron-ore miner Fortescue Metals has issued a voluntary redemption notice of $160-million for the remaining balance of the 9.75% senior secured notes due in 2022. CFO Ian Wells said on Friday that the repayment of the high cost notes left all of Fortescue’s remaining debt structured on investment... 

Manas withdraws from Tanzania buy

By: Esmarie Swanepoel     Updated 1 hour 10 minutes ago Explorer Manas Resources has abandoned its bid to acquire the Victoria gold project, in Tanzania, after a lack of progress to transfer the licence, as well as challenging conditions facing mining companies operating in the country. Manas in April last year struck a deal to acquire the Victoria... 

American Pacific buys into US projects

By: Esmarie Swanepoel     Updated 1 hour 11 minutes ago ASX-listed American Pacific Borate and Lithium will spend $3-million to acquire a 100% interest in the Salt Wells North and Salt Wells South borate and lithium exploration projects, in Nevada. In addition to the $3-million exploration spend over a five-year period, American Pacific will also be... 

Aton increases interest in M&R to 43.70%

By: Simone Liedtke     Updated 1 hour 23 minutes ago German-owned Aton has acquired a further 18.25-million shares in Murray & Roberts (M&R). Following the settlement of these shares’ acquisition, Aton will hold 194.35-million shares in M&R, representing about 43.70% of the entire issued share capital. 

Centamin lowers FY18 production guidance

By: Anine Kilian     Updated 1 hour 32 minutes ago Aim-listed Centamin's share price on the LSE fell by more than 15% on Friday after the miner lowered its production guidance for the full year to between 505 000 oz and 515 000 oz. It had previously expected to produce 580 000 oz of gold for the full year, however, it said in a statement on... 

Miners halt dividend payouts, stay-in-business capex as price languishes in the doldrums

By: Natasha Odendaal     Updated 2 hours 43 minutes ago The once burgeoning platinum industry that in the recent past benefited from a years-long upswing in commodity demand and prices is now failing to recover from the global economic depression that heralded the end of its glory days and shut many smaller operators down. In the wake of the 2008... 

Miners halt dividend payouts, stay-in-business capex as price languishes in the doldrums

Electric vehicles seen driving cobalt crunch by mid-2020s

By: Reuters     25th May 2018 The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in... 

Vale sees key mine topping iron-ore output forecasts in 2018 – source

By: Reuters     25th May 2018 Brazilian miner Vale expects iron-ore output at its premier S11D mine to reach 58-million tonnes this year, above an official forecast of 50-million to 55-million tonnes, a person familiar with the matter said. The expected increase is due mainly to selling more "canga," or iron-ore with a... 

Nautilus unveils spider-inspired sediment sampler

By: Henry Lazenby     25th May 2018 Marine mining pioneer Nautilus Minerals has unveiled a new autonomous sediment sampler called the 'Nautilus Jumping Spider’ for use in sampling deep-sea deposits, that could cut exploration costs “by an order of magnitude”, the company reported on Thursday. Nautilus said it has successfully... 

Fireweed tumbles following positive Macmillan Pass PEA

By: Henry Lazenby     25th May 2018 Vancouver-based explorer Fireweed Zinc has reported strong economic indicators for its Macmillan Pass project, in Canada’s Yukon Territory, sending its TSX-V-listed stock up 6% on Thursday to open at a 52-week high, before closing down 11% by market close. Based on metal price assumptions of... 

EY’s Canadian Mining Eye Index falls in Q1

By: Henry Lazenby     25th May 2018 The EY Canadian Mining Eye Index has shown a decline in first-quarter performance, falling 8% from the fourth quarter of 2017, the professional services firm reported on Thursday. Based on the 2018 operating guidance released by the majority of Canadian gold mining companies, average production... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

By: Henry Lazenby     25th May 2018 Only about one-third of the 15 largest copper producers with output of more than 40 000 t of copper per quarter reported positive production trends during the first quarter of this year, driving quarter-on-quarter output 4.8% or 136 548 t lower, a new report by S&P Global has found. However, on... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

Probe into influence peddling to start hearings in August

By: Reuters     24th May 2018 An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

Polyus sees 2018 production at upper end of guided range

By: Reuters     24th May 2018 Polyus, Russia's largest gold producer, said on Thursday its 2018 production was likely to be at the upper end of the forecast range of 2.375-million to 2.425-million troy ounces. CEO Pavel Grachev said on the sidelines of the St Petersburg economic forum that 2018 capital expenditure would be... 

Semafo signs mining services contract with AUMS

By: Creamer Media Reporter      24th May 2018 TSX-listed Semafo has signed a mining services contract with African Underground Mining Services (AUMS) for the Siou underground mine, in Burkina Faso. AUMS will be responsible for supplying the mining fleet and a skilled labour force for the Siou underground mine, in addition to providing... 

IronRidge appoints new chairperson

By: Anine Kilian     24th May 2018 Neil Herbert has been appointed nonexecutive chairperson of Aim-listed IronRidge Resources with immediate effect. He succeeds Nick Mather, who will remain on the board as a nonexecutive director. 

Signet joins De Beers' Tracr blockchain platform pilot

By: Anine Kilian     24th May 2018 Signet Jewelers will become the first retailer to join De Beers Group's end-to-end diamond blockchain pilot programme, known as Tracr. Tracr aims to complete the first digital link all the way from diamond production through to retail. 

Katoro reaffirms mining potential at Imweru

By: Anine Kilian     24th May 2018 Aim-listed Katoro Gold on Thursday confirmed that there was good upside potential for the further development of its Imweru gold project, in Tanzania. The company assessed the economic viability of the project, based on the results of a prefeasibility study and the new mining legislation and... 

Pan African completes commissioning of Barberton regrind mill, Elikhulu to pour first gold in August

By: Simone Liedtke     24th May 2018 The commissioning of Pan African Resources’ Barberton Mines Tailings Retreatment Plant (BTRP) regrind mill will be completed this week, on schedule and on budget. The gold producer on Thursday said BTRP is expected to reach an annualised gold production of 21 000 oz in the next month. 

Resources Watch  

24th May 2018 Learning opportunity on mining training’s competitive edge And, consolidation needed to save jobs 

Resources Watch
Resources Watch

Petra’s shares fall on $178m proposed rights issue

By: Simone Liedtke     24th May 2018 Petra Diamonds’ share price on the LSE fell by more than 20% on Thursday after it announced plans to raise $178-milion, or about £133-million, through a fully underwritten 5 for 8 rights issue. The diamond miner, which has operations in South Africa and Tanzania, said its cash flow generation... 

Petra’s shares fall on $178m proposed rights issue
Photo by Creamer Media
Petra Diamonds CEO Johan Dippenaar

Jet engines help power cobalt to 10-year highs

By: Reuters     24th May 2018 The spotlight in the cobalt market has been fixed on electric vehicles but shrinking supply and robust demand from traditional sectors such as jet engine makers are helping fuel a price rally that shows no signs of fading. Cobalt in recent years has become synonymous with electric vehicles as it... 

Northam ups funding capacity as stockpile monetisation ensues

By: Martin Creamer     24th May 2018 Platinum mining company Northam has increased its funding capacity to tide it over a capital intensive development period. A new R1-billion two-year unsecured revolving credit facility to April 2020 is augmenting a previous R2-billion unsecured revolving credit facility to November 2021, taking... 

Northam ups funding capacity as stockpile monetisation ensues
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Anglo Asian copper, gold, silver miner moots maiden dividend

By: Reuters     24th May 2018 Anglo Asian Mining, which focuses on copper, gold and silver mining in Azerbaijan, said on Thursday it was considering paying its first dividend now that it had reported a profit, cut debt and built up cash. A dividend would set Anglo Asian apart from many London-listed junior miners, which... 

Copper miner Atalaya's Q1 profit jumps 54%

By: Mariaan Webb     24th May 2018 Copper miner Atalaya Mining has posted a 54% increase in its first-quarter profit, on the back of stronger copper prices and an increase in concentrate volumes sold. After-tax profit increased from €5.7-million, or 4.8c a share, in the first quarter of 2017, to €8.8-million, 6.5c a share, in... 

Copper miner Atalaya's Q1 profit jumps 54%
Proyecto Riotinto

Indian thermal power plants reeling from coal shortages

By: Ajoy K Das     24th May 2018 Private and public thermal power plants across India are facing an acute shortage of coal, at a time when rising electricity demand during summer months has sent the spot price of electricity skyrocketing. According to data sourced from industry policy advisory body, the Central Electricity... 

Western Australia to formulate lithium and energy materials strategy

By: Esmarie Swanepoel     24th May 2018 The Western Australian government has announced the formation of a taskforce to capitalise on the region’s lithium and energy material potential. The taskforce will oversee development of a Lithium and Energy Materials Strategy to build on Western Australia's competitive advantages, and to... 

ABx separates Alcore into own entity, lowers capex forecast

By: Esmarie Swanepoel     24th May 2018 Bauxite producer Australian Bauxite (ABx) on Thursday announced that it would develop its Stage 1 Alcore pilot plant project, in New South Wales, through a new wholly owned subsidiary Alcore. A previous engineering and cost study on the Stage 1 project estimated that a capital investment of... 

EU starts new investigation into steel imports from China

By: Reuters     24th May 2018 The European Commission has opened an investigation into hot-rolled steel sheet piles imported from China to determine whether they are being dumped in Europe, according to a notice in the EU Official Journal on Thursday. The investigation into a form of steel used in construction was launched... 

Mining’s share of total project work in Queensland falling

By: Esmarie Swanepoel     24th May 2018 While the Queensland Major Projects Pipeline Report has shown a 58% increase in major project work during 2017/18, private sector investment, particularly in the mining sector, is falling. The report, compiled by the Queensland Major Contractors Association, Construction Skills Queensland and... 

Mining’s share of total project work in Queensland falling
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