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Mining News

India considering incentives for foreign companies in hydrocarbon sector

By: Ajoy K Das     Updated 1 hour 2 minutes ago The Indian government is working on a draft proposal to offer upfront incentives, including a capital subsidy and liberal export rules, for foreign oil and gas companies that are expected to participate in the newly unveiled open acreage hydrocarbon bidding process. According to an official... 

Expansion tenure secured for Plymouth’s Spain project

By: Mariaan Webb     Updated 1 hour 18 minutes ago ASX-listed Plymouth Minerals and its Spanish partner Sacyr subsidiary Valoriza Mineria have secured an expansion tenure surrounding the San Jose project, in Spain, which they plan to develop as an openpit operation with an onsite treatment plant to produce lithium carbonate. The expansion tenure... 

UK firm acquires 10% of DRDGold

By: Anine Kilian     Updated 1 hour 44 minutes ago UK-based investment company Ruffer has acquired 10% of the total issued ordinary share capital of JSE-listed DRDGold. DRDGold, led by CEO Niel Pretorius, recovers gold from the retreatment of surface tailings. 

CoAL’s share price rises as Minister lifts Makhado water licence suspension

By: Anine Kilian     Updated 1 hour 54 minutes ago Triple-listed Coal of Africa Limited’s (CoAL’s) shares on the JSE rose by 8.51% on Monday morning after the company announced that Water and Sanitation Minister Nomvula Mokonyane had lifted the suspension of the integrated water use licence (IWUL) for the Limpopo-based Makhado project. The IWUL... 

CoAL’s share price rises as Minister lifts Makhado water licence suspension
CoAL CEO David Brown

Scoping study on Dakota’s Portugal project nearing completion

By: Mariaan Webb     Updated 1 hour 57 minutes ago Lithium explorer Dakota Minerals has received the results of metallurgical test work on material from its Sepeda petalite project, in Portugal, paving the way for the completion of a scoping study in the next two weeks. Dakota Minerals, which trades on the ASX and Frankfurt Stock Exchange,... 

Scoping study on Dakota’s Portugal project nearing completion

Oz vanadium explorer expands investor base with Frankfurt listing

By: Mariaan Webb     Updated 2 hours 17 minutes ago Western Australia-based Technology Metals Australia is pursuing a dual listing on the Frankfurt Stock Exchange to broaden its European investor base. The ASX-listed company, which is conducting drilling at the Gabanintha vanadium project, near Meekatharra in Western Australia, said on Monday that... 

WA Premier revives plan to scrap iron-ore levy as it seeks upfront cash

By: Esmarie Swanepoel     Updated 2 hours 52 minutes ago Western Australian Premier Mark McGowan has revived the possibility of scrapping a 25c/t levy on iron-ore produced from the state, in exchange for up-front payments. The Premier over the weekend admitted that the state government was weighing the option of a ‘buy-out’ of the lease rental fee in... 

WA Premier revives plan to scrap iron-ore levy as it seeks upfront cash

New Qld policy approach leaves no room for Carmichael ‘tax holiday’

By: Esmarie Swanepoel     Updated 2 hours 57 minutes ago The Queensland government has unveiled plans for a new policy to unlock the development of the Galilee and Surat basins, as well as the North West minerals province, with Premier Annastacia Palaszczuk saying that the state Cabinet had unanimously agreed upon the new policy approach. Treasurer... 

Kidman/Marindi tussle starts

By: Esmarie Swanepoel     Updated 3 hours ago The legal battle between ASX-listed Kidman Resources and fellow-listed Marindi Resources was launched in the Supreme Court on Monday. Marindi in November of last year started legal proceedings claiming that that Kidman had failed to comply with a binding agreement to sell lithium rights to Marindi. 

Sheffield gets another offtake bite

By: Esmarie Swanepoel     Updated 3 hours ago Mineral sands developer Sheffield Resources has inked a cornerstone ilmenite offtake memorandum of understanding (MoU) over its Thunderbird mineral sands project, in Western Australia. The MoU with Chinese manufacturer CNNC Huayuan Titanium Dioxide Company covers some 45% of the estimated total... 

MZI secures more funding from shareholder

By: Esmarie Swanepoel     Updated 3 hours ago Mineral sands miner MZI Resources has secured $5-million in funding to progress its land access programme at its Keysbrook project, in Western Australia. The debt financing, provided by the company’s major shareholder Resource Capital Fund, will enable MZI to pursue further arrangements with... 

Carbine gets heritage approval for Mt Morgan

By: Esmarie Swanepoel     Updated 3 hours ago The Queensland Minister of Natural Resources and Mines has granted final heritage approval to the Mt Morgan gold/copper project. ASX-listed Carbine Resources said on Monday that the grant of the heritage approval was another milestone for the project, and was the first of three major approvals... 

Australian gold production drops by 8%

     Updated 3 hours ago Wet weather has resulted in Australian gold production falling during the March quarter, mining consultant Subriton Associates has reported. The country's gold mines produced 71.5 t in the quarter, which is 6 t, or 8%, less than the 77.5 t produced in the December quarter. Nevertheless, gold... 

Havilah gets partner at Kalkaroo

By: Esmarie Swanepoel     Updated 3 hours ago Gold junior Havilah Resources has signed a memorandum of understanding (MoU) with Beijing-based Wanbao Mining to complete a prefeasibility study (PFS) on the Kalkaroo copper/gold project, in South Australia. The PFS, which will be undertaken by an independent mining consultancy, is expected to... 

Dartbrook sale completed – Anglo American

By: Esmarie Swanepoel     Updated 3 hours ago Diversified miner Anglo American has completed the sale of its 83.33% interest in the Dartbrook coal mine, in New South Wales to ASX-listed Australian Pacific Coal (APC). The two companies at the end of 2015 agreed to the A$50-million transaction, which included an upfront cash payment of... 

Limpopo illegal miners appear in court

By: African News Agency      Updated 3 hours ago Five people allegedly involved in massive illegal mining of chrome in Limpopo are expected to appear in Sekhukhune and Mecklenburg courts on Monday. Police spokesman Brigadier Motlafela Mojapelo said the suspects aged between 33 and 44 were arrested last week during an operation by the police and... 

At least eight illegal miners die after mine shaft collapses in Zimbabwe

By: News24Wire      Updated 4 hours ago At least eight illegal miners have been confirmed dead in Zimbabwe after a mine shaft they were working in collapsed. The state-run ZBC is reporting that at least four of the miners were above ground at Big Mine, but were sucked into the collapsing shaft. 

Moody's sees Glencore paying up to $6bn in possible Bunge deal

By: Reuters     27th May 2017 Miner and trader Glencore may pay up to $6-billion in cash in a possible tie-up with US grains trader Bunge based on current valuations, Moody's ratings agency said on Friday, but said it did not expect an outright acquisition. Glencore said this week it had made an informal approach to discuss... 

IDM completes Red Mountain acquisition from Seabridge Gold

By: Henry Lazenby     27th May 2017 Exploration and development company IDM Mining has completed the acquisition of the high-grade Red Mountain project, in British Columbia, from Seabridge Gold. TSX-V-listed IDM acquired the 100% interest, subject to certain underlying agreements and royalties, under an April 2014 option agreement. 

Canada publishes rules to reduce oil and gas sector methane emissions, air pollution

By: Henry Lazenby     26th May 2017 Canada has introduced new rules aimed at reducing methane emissions and cutting air pollution from its significant oil and gas industry, a move that met with mixed reaction from the industry itself. Minister of Environment and Climate Change Catherine McKenna introduced the new regulation on... 

Canada publishes rules to reduce oil and gas sector methane emissions, air pollution

Northern Vertex, Greenstone partner to accelerate Moss mine development; US gold consolidation

By: Henry Lazenby     26th May 2017 Canadian project developer Northern Vertex Mining and Guernsey-based private equity fund Greenstone Resources has formed a partnership that will strengthen Northern Vertex’s balance sheet and expedite construction, procurement and staffing initiatives as the company works up to declaring... 

Codelco's Q1 output falls, but higher copper price boosts profits

By: Reuters     26th May 2017 Chile's state-run Codelco said on Friday that its copper output in the first quarter slid 11% from a year ago, as ore grades decline at its ageing mines, but an incipient recovery in copper prices boosted its profits. Codelco, the world No 2 copper miner, said output in the three months to... 

Low platinum price boosting platinum jewellery demand

By: Martin Creamer     26th May 2017 The low platinum price incentivised manufacturers and retailers to stock and sell platinum, leading to an overall growth of 5.4% in the US last year, Platinum Guild International said on Friday, with lower-based retail sales in India soaring 11.4%. In its Platinum Jewellery Business Review, the... 

Low platinum price boosting platinum jewellery demand
Platinum jewellery sales up in US, India, Japan.

Vast draws down on SSA loan

By: Megan van Wyngaardt     26th May 2017 Aim-listed Vast Resources on Friday said it has drawn down $3-million of its $8-million financing arrangement with SSCG Africa Holdings (SSA), despite approval by the Reserve Bank of Zimbabwe (RBZ) still being outstanding. In January, the parties entered into an $8-million agreement, comprising a... 

Coal India likely to rejig pricing

By: Ajoy K Das     26th May 2017 Coal miner Coal India Limited (CIL) is likely to adjust its pricing in the current financial year. A price adjustment will need to factor in the re-gradation of the quality of coal from CIL’s 386 mines and the impact of the Goods and Services Tax (GST), a company official said. 

Adani must pay royalties on Carmichael mine, Queensland says

By: Reuters     26th May 2017 India’s Adani Group will be required to pay full royalties on its $16.5-billion Carmichael coal project in Australia’s Queensland, according to the state’s premier. The Carmichael mine “will pay every cent of royalties in full” under a new policy unanimously agreed to by the state’s cabinet for... 

Kazakhstan to produce nuclear fuel for China

By: Reuters     26th May 2017 Kazakhstan, the world's biggest uranium producer, will start producing nuclear fuel for Chinese power plants in 2019 through a joint venture set up by the two countries, a senior official at the Ulba Metallurgical Plant told Reuters. The joint venture, Ulba-FA, is now building on land at the Ulba... 

Beowulf not giving up on Kallak despite continued permit delays

By: Anine Kilian     26th May 2017 Mineral and exploration development company Beowulf is not giving up on its planned Kallak magnetite iron-ore project near Jokkmokk, in Swedish Lapland, despite delays in being granted an exploitation concession, the company’s CEO said on Friday. Kurt Budge said he found it “impossible to... 

Russian State fund could invest in miner Polyus with China's Fosun – source

By: Reuters     26th May 2017 The State-backed Russian Direct Investment Fund (RDIF) and China's Fosun International could announce an investment in Russia's top gold producer Polyus in early June, a source familiar with the talks told Reuters. A consortium led by Fosun, one of China's most acquisitive conglomerates, has... 

Acacia says committee’s findings on its Tanzanian gold exports inaccurate

By: Megan van Wyngaardt     26th May 2017 Tanzania-focused Acacia Mining on Friday said it could not agree with the findings of a report, compiled by a Presidential Committee tasked with investigating the export of gold and copper concentrates. President John Magufuli on Wednesday released the findings of the report and announced that... 

Angola continues diversification into minerals to curb oil deficits, but progress slow

By: Megan van Wyngaardt     26th May 2017 Angola's continued reliance on the oil sector will result in limited development of its mining sector between now and 2021. However, the country is expected to continue diversifying into minerals in the longer term, as a decline in domestic oil production speeds up government plans to invest in... 

Mining Resilience Research Centre launch to help sector survive Industrial Revolution 4.0

By: David Oliveira     26th May 2017 The University of Pretoria’s (UP’s) Department of Mining Engineering has launched its Mining Resilience Research Centre (MRRC) at the Hatfield, Pretoria, campus. The centre will take a multidisciplinary and holistic research approach to address the challenges facing the South African mining... 

Alba to embark on Amitsoq work programme in June

By: Megan van Wyngaardt     26th May 2017 Greenland-focused graphite miner Alba Mineral Resources has completed its consultation phase with the country’s Mineral and Licensing Safety Authority, allowing it to embark on a work programme at its Amitsoq project. The programme, to take place over June and July, is designed to verify the... 

BMI lowers DRC gold production outlook

By: Megan van Wyngaardt     26th May 2017 Lower-than-expected output from the Democratic Republic of Congo’s (DRC's) gold industry during 2016, paired with a weak project pipeline in the coming years, has resulted in research firm BMI revising its gold production forecast for the country up to 2021, downwards. The research firm put the... 

Implats finalises terms on dual bond offering

By: Natasha Odendaal     26th May 2017 JSE-listed Impala Platinum (Implats) on Friday concluded the final terms of its dual offering of R3.25-billion unsecured convertible bonds and $250-million unsecured convertible bonds, both due 2022. The platinum miner’s rand-denominated bonds will hold a 6.375% yearly interest rate, while the... 

Ncondezi calls off joint development agreement with SEP

By: Megan van Wyngaardt     26th May 2017 Mozambique-focused coal miner and energy developer Ncondezi Energy will engage with new strategic partners who have expressed an interest in helping to develop its integrated thermal coal mine and 300 MW power plant in the country’s Tete province. This comes after the company on Friday suspended... 

Ncondezi calls off joint development agreement with SEP

Lucapa secures A$19m to pay for Lesotho mine, advance Phase 1 development

By: Esmarie Swanepoel     26th May 2017 Diamond miner Lucapa Diamond Company has secured A$19-million in capital to fund the acquisition and development of the Mothae kimberlite diamond project, in Lesotho. The ASX-listed miner said on Friday that the funding package included a A$9.2-million underwriting agreement with Westar Capital... 

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