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Mining News

China's Jiangxi Copper has plans for M&A in Africa – chairperson

By: Reuters     19th October 2017 State-owned China metals firm Jiangxi Copper plans to make an acquisition in mineral-rich Africa, president and chairperson Long Ziping said, as the country's top integrated copper producer aims to step up overseas expansion. Long, appointed chairperson last month, didn't identify potential... 

RBPlat drops Gupta-linked contractor

By: Reuters     19th October 2017 South African platinum producer Royal Bafokeng Platinum said on Thursday it was dropping the services of contractor JIC Mining Services, majority owned by Oakbay Investments, the main company operated by the Gupta family. RBPlat, a black-owned midtier producer of the precious metal, is the latest... 

Galantas acquiring new equipment for Omagh

By: Mariaan Webb     19th October 2017 Aim- and TSX-V-listed Galantas Gold has made good progress with the development of an underground mine at Omagh, in county Tyrone, Northern Ireland, and is now looking at acquiring new equipment to speed up its development rate. The company reported on Thursday that development had been advanced... 

Lundin Gold ramping up Ecuador project

By: Anine Kilian     19th October 2017 Moving forward with the engineering and procurement of the process plant for its Fruta del Norte gold project, in Ecuado, TSX-listed Lundin Gold has ordered long-lead time process plant equipment, with process plant detailed engineering expected to be completed in the fourth quarter of 2018.... 

Outa accuses Eskom consultants of ‘gambling’ with public money

By: Kim Cloete     19th October 2017 The Organisation Undoing Tax Abuse (Outa) has alleged that Eskom consultants Trillian Capital Partners have been “dabbling” in derivatives and losing billions of rands in the process. “Trillian has been dabbling in derivatives with our public money, racking up losses of R27-billion,” Outa... 

Outa accuses Eskom consultants of ‘gambling’ with public money
Photo by Duane Daws
Ted Blom

Horizonte Minerals files mine construction licence for Araguaia project

By: Anine Kilian     19th October 2017 Aim- and TSX-listed Horizonte Minerals has completed and filed a mine construction licence application for its Brazil-based Araguaia nickel project, marking a major milestone for the project as it moves towards a decision on construction, said CEO Jeremy Martin in a statement released Thursday.... 

South African court revokes shale gas regulations – AgriSA

By: Reuters     19th October 2017 South Africa's High Court has quashed regulations governing proposed shale gas fracking, farmers lobby AgriSA said on Thursday after taking the government to court to stop fracking in the Eastern Cape province. The ruling marks the latest setback to South Africa's shale gas ambitions after a... 

AngloGold Ashanti sells Moab Khotsong to Harmony; Kopanang to Heaven-Sent

By: Natasha Odendaal     19th October 2017 JSE-listed AngloGold Ashanti has disposed of its various South African gold and uranium mining assets in the Vaal river region to Harmony Gold Mining for $300-million. The transaction comprised the Moab Khotsong mine, the Great Noligwa mine and related infrastructure; AngloGold Ashanti’s entire... 

AngloGold Ashanti sells Moab Khotsong to Harmony; Kopanang to Heaven-Sent
Moab Khotsong

Brazil miner Vale seals share conversion, elects new board members

By: Reuters     19th October 2017 The remaining preferred shareholders of Brazil's Vale SA on Wednesday voted to accept a plan obliging them to convert their shares into a single stock class, finalizing a process that is part of the miner's bid to improve corporate governance. The move was approved by the remaining preferential... 

Angola is not the next Venezuela, state oil firm says as it cuts debt

By: Reuters     19th October 2017 Angola is not the next Venezuela, the head of State oil firm Sonangol said on Wednesday while pledging to further cut debt, even if both oil-rich nations have relied heavily on loans from China. Venezuela, the Latin American oil behemoth, has found itself struggling to repay debts to China and... 

Chile's Cochilco boosts copper forecast to near $3/lb in 2018

By: Reuters     19th October 2017 Chile State copper commission Cochilco forecasted on Wednesday an average global copper price of $2.95/lb in 2018, a sharp upward revision from its mid-year estimate of $2.68, due to greater demand in China, a key market. For 2017, it predicted an average copper price of $2.77/lb, markedly higher... 

Chile's Cochilco boosts copper forecast to near $3/lb in 2018

Urgent need for exploration, junior culture in resources sector – Bristow  

     19th October 2017 Resources consultant Dr John Bristow recently warned that there was an urgent need to explore, develop and instil a junior culture in South Africa’s resources sector. Mining Weekly editor Martin Creamer recently spoke with Dr Bristow and sits down with Creamer Media's Sashnee Moodley to talk... 

Urgent need for exploration, junior culture in resources sector – Bristow
Urgent need for exploration, junior culture in resources sector – Bristow

Santos upgrades full-year expectations

By: Esmarie Swanepoel     19th October 2017 Oil and gas major Santos has increased its full-year production expectations following another stellar quarter of production. Santos on Thursday upgraded its 2017 sales volume guidance from between 77-million and 82-million barrels of oil equivalent, to between 79-million and 82-million barrels... 

Sandfire holds steady in September quarter

By: Esmarie Swanepoel     19th October 2017 Copper/gold miner Sandfire Resources has reported a slight decline in copper production for the three months to September, compared with the June quarter, following planned maintenance shutdowns at its DeGrussa mill, in Western Australia. Copper production for the quarter under review reached 15... 

Sheffield to spin-out gold and base metal assets

By: Esmarie Swanepoel     19th October 2017 Mineral sands developer Sheffield Resources has announced plans to demerge its gold and base metals assets into an ASX-listed company. The assets, which are currently held by subsidiary Carawine Resources, include the Jamieson gold-copper-silver-zinc project, in Victoria, and the Oakover and... 

Dugald River zinc project likely to come in 8% under budget – MMG

By: Esmarie Swanepoel     19th October 2017 Metals miner MMG on Thursday reported that its Dugald River zinc project, in Queensland, was likely to come in under budget. The company told shareholders that total capital costs to completion was now expected to be between $550-million to $570-million, compared with a previous guidance of... 

South32 bolsters net cash to $1.7bn, reports solid Q1 results

By: Esmarie Swanepoel     19th October 2017 Diversified miner South32 on Thursday reported its financial and operational results for the first quarter of the 2018 financial year, telling shareholders that stronger commodity markets had delivered a $33-million increase in its net cash position. “Our key commodity markets continue to... 

South32 bolsters net cash to $1.7bn, reports solid Q1 results
Photo by Bloomberg
South32 CEO Graham Kerr

Cu-River unveils A$800m Cairn Hill magnetite expansion

By: Esmarie Swanepoel     19th October 2017 Privately held Cu-River Mining Australia has announced an A$800-million expansion of the Cairn Hill magnetite mine, in South Australia. The investment would triple current magnetite production initially to three-million tonnes a year, and then up to 15-million tonnes a year by 2021, creating up... 

Cu-River unveils A$800m Cairn Hill magnetite expansion

Iron-ore, coking coal skid again in China as demand concerns emerge

By: Reuters     19th October 2017 Prices of steelmaking commodities iron ore and coking coal fell sharply on Thursday, pressured by worries over slower demand as Chinese mills curb output in line with Beijing's campaign to fight smog. Iron ore futures slid more than 4% and coking coal dropped more than 5%. Rebar steel futures... 

Woodside reports higher revenue in Sept quarter

By: Esmarie Swanepoel     19th October 2017 Australian oil and gas producer Woodside Petroleum has reported increases in sales volumes and revenues for the three months to September, compared with the previous quarter. Oil and gas production for the three months to September reached 20.3-million barrels of oil equivalent, which was down... 

India tightens gold import norms for export houses

By: Reuters     19th October 2017 ndia tightened gold import norms for export houses by restricting them from importing the yellow metal only for export purposes and not for selling in the domestic market, the government said in a circular on Wednesday. "...are permitted to import gold as input only for the purpose of... 

Northern Star on track to meet full-year guidance

By: Esmarie Swanepoel     19th October 2017 Gold miner Northern Star Resources is on target to meet its full-year production guidance of between 525 000 oz and 575 000 oz, despite reporting a 10% decline in production during the three months to September. Northern Star on Thursday reported gold production of 138 422 oz during the... 

Gascoyne picks miner at Dalgaranga

By: Esmarie Swanepoel     19th October 2017 Gold developer Gascoyne Resources has tapped fellow-listed NRW Holdings as the preferred mining contractor for a A$300-million contract at its flagship Dalgaranga project, in Western Australia. The openpit contract, which is subject to finalising of terms and conditions, will cover four pits... 

Glencore to swap Rusal stake for shares in Russia's En+

By: Reuters     19th October 2017 Glencore will swap its 8.75% stake in Russian aluminium giant Rusal for shares in En+ Group, an aluminium and hydropower group controlled by tycoon Oleg Deripaska, En+ said on Wednesday. En+ Group plans to raise $1.5-billion in an initial public share offering (IPO) in London and Moscow in... 

Samarco extends temporary suspension of 800 employees for 5 months

By: Reuters     19th October 2017 Miner Samarco, a joint venture between Vale SA and BHP Billiton, said on Wednesday it has decided along with unions to extend the temporary suspension of 800 employees for five months to March 31, 2018. The layoff period began on June 1 and was to end on November 1. 

Diamond exploration intensifying close to mine that paid for itself in 3.5 days 

By: Martin Creamer     18th October 2017 London- and Botswana-listed Botswana Diamonds, which is funding diamond exploration on three sites in South Africa, expects to declare an inferred resource by year-end at its Thorny River project in Limpopo, which is located very close to the Marsfontein mine that had an astonishing... 

Diamond exploration intensifying close to mine that paid for itself in 3.5 days
Botswana Diamonds MD James Campbell talks to Mining Weekly Online's Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Lionel da Silva

Sibanye Platinum’s favourable wage agreement creates certainty – Solidarity 

     18th October 2017 Trade union Solidarity says it has reached a favourable three-year wage agreement on behalf of its members at Sibanye Platinum’s Kroondal mine.  The agreement is effective from July 1, and will be valid until June 30, 2020. 

Vast making progress on Baita Plai licence

By: Mariaan Webb     18th October 2017 Aim-listed Vast Resources said on Wednesday that it had made “significant progress” with the finalisation of the Baita Plai association licence, which forms a key part of its expansion plans in Romania. Vast said that the Baita SA board had held a meeting this week, where it had requested its... 

Altus secures new exploration licence in Ethiopia

By: Creamer Media Reporter      18th October 2017 Aim-listed Altus Strategies has been granted an exploration licence for the Daro copper/gold project, in northern Ethiopia. The licence covers an area of about 412 km2 and is valid for three years. 

Chamber files for review of 'disastrous' Mining Charter

By: News24Wire      18th October 2017 The Chamber of Mines filed an application in the North Gauteng High court on Tuesday to have a judicial review and setting aside of the Mining Charter. According to the founding affidavit, the Charter released by Mineral Resources Minister Mosebenzi Zwane on June 15 had, and continues to have, a... 

Chamber files for review of 'disastrous' Mining Charter
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter

South African mining industry must modernise – Chamber of Mines

By: Dylan Slater     18th October 2017 The South African mining industry has to modernise as a matter of urgency in order to halt job cuts in the industry, as well as to create more jobs, says Chamber of Mines modernisation and safety head Sietse van der Woude. Delivering a keynote address at diversified engineering solutions company... 

Ncondezi raises £750 000

By: Anine Kilian     18th October 2017 Aim-listed Ncondezi Energy has raised £750 000, before expenses, through an oversubscribed placing of 15-million ordinary shares at a price of 5p a share. The company will use the funds raised by the placing to cover nonproject corporate costs until the end of August 2018, before the maturity of... 

Zwane to Parliament – Am I being investigated?

By: News24Wire      18th October 2017 "Am I being investigated? I need to know so that we can start dealing with facts and not allegations that are in the media." Those were the introductory remarks from Mineral Resources Minister Mosebenzi Zwane who is currently appearing before Parliament's portfolio committee on mineral resources... 

Miraflores to cost $71.8m - Metminco

By: Esmarie Swanepoel     18th October 2017 A feasibility study (FS) into Aim- and ASX-listed Metminco’s Miraflores gold project, in Colombia, has found that the project could deliver average production of 45 000 oz/y of gold and 22 600 oz/y of silver. Metminco reported that the project was expected to cost about $71.8-million to develop,... 

Pan African concludes wage agreement at Barberton Mines

By: Anine Kilian     18th October 2017 Pan African Resources’ Mpumalanga-based Barberton Mines has successfully concluded a one-year wage agreement with the National Union of Mineworkers (NUM) and Uasa. The average wage increase for all Barberton Mines employees will be about 8%, effective from July. 

Sheffield taps Taurus for Thunderbird debt funding

By: Esmarie Swanepoel     18th October 2017 Mineral sands developer Sheffield Resources has mandated Taurus Mining Finance Fund to arrange for a $200-million debt facility to support the development of the Thunderbird project, in Western Australia. The ASX-listed company said on Wednesday that Taurus had agreed to arrange and underwrite a... 

Newcrest announces A$93m Telfer investment as royalty hike is dropped

By: Esmarie Swanepoel     18th October 2017 Australian gold miner Newcrest Mining has approved a A$93-million capital investment into its Telfer mine, in Western Australia, which will extend the openpit mine life by four years, until 2023. The company on Wednesday said that the capital would be spent on expanding the West Dome openpit,... 

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