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Mining News

Horizonte details economics of Araguaia expansion

By: Mariaan Webb     12th December 2018 An assessment of a second stage expansion of the planned Araguaia nickel project, in Brazil, has delivered compelling economic results, with a base case net present value (NPV) of $741-million and an internal rate of return (IRR) of 31.8%, Aim- and TSX-listed Horizonte Minerals reported on... 

Mkango granted extended prospecting licence in Malawi

By: Marleny Arnoldi     12th December 2018 TSX-V-listed and Aim-listed Mkango Resources has been granted a two-year renewal for the Phalombe licence, in Malawi, which contains the company’s flagship rare earths project – Songwe Hill. The Malawian government granted the extended licence from January 21, 2019, to January 21, 2021.  

Minerals Minister defends coal, complains about high electricity prices 

By: Rebecca Campbell     12th December 2018 Mineral Resources Minister Gwede Mantashe has defended the role of coal in the country's energy mix and complained about the harmful effect of high electricity prices on the local beneficiation of minerals. He was delivering the keynote address at the launch, in Pretoria, of a book – The Future... 

Minerals Minister defends coal, complains about high electricity prices

Kibo renews MoU with Mozambique utility

By: Marleny Arnoldi     12th December 2018 JSE- and Aim-listed Kibo Energy has renewed and expanded its memorandum of understanding with Mozambican State-owned electricity utility Electricidade de Mocambique (EDM), to advance the financing, construction and operation of the Benga coal independent power project, in Mozambique. Kibo CEO... 

Total to further expand oil exploration footprint in Mauritania

By: Marleny Arnoldi     12th December 2018 Global energy company Total and the Mauritanian Ministry of Petroleum, Energy and Mines have signed an agreement that awards Total two new exploration and production contracts for blocks C15 and C31, which are deep offshore Mauritania. The contracts cover an area of 14 175 km2 and will be 90%... 

Total to further expand oil exploration footprint in Mauritania
Total awarded two new exploration and production contracts in Mauritania

People the critical factor for mining – Minister 

By: Rebecca Campbell     12th December 2018 Mineral Resources Minister Gwede Mantashe stressed on Wednesday that the key factor in the future of South African mining was the human element. He was delivering the keynote address at a Mapungubwe Institute for Strategic Reflection function launching a book on the future of the country's mining... 

People the critical factor for mining – Minister
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

Kazatomprom says it has not initiated KASE listing

By: Reuters     12th December 2018 Kazakh uranium miner Kazatomprom has not initiated the admission of shares to the Kazakh Stock Exchange, the company said on Wednesday. The exchange said this week it has opened trading in Kazatomprom shares which had initially been listed on another Kazakh bourse, the Astana International... 

Ontario’s Harte to declare commercial production by year-end

By: Creamer Media Reporter      12th December 2018 The Harte gold mine – Ontario’s first new gold mine in a decade – is on track to achieve commercial production by the end of the year. Toronto- and Frankfurt-listed Harte Gold said on Tuesday that the Sugar Zone mill complex was achieving consistent throughput of 575 t/d. More than 24 000 t of... 

Xolobeni judgment to be appealed

By: Rebecca Campbell     12th December 2018 Mineral Resources Minister Gwede Mantashe confirmed on Wednesday that he was going to appeal the Xolobeni judgment of the Pretoria High Court. That judgment, in November, held that the Mineral Resources Minister could not award a mining right at Xolobeni (in the Wild Coast region of the Eastern... 

Xolobeni judgment to be appealed
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

Kirkland Lake's 1Moz/y target now in sight

By: Mariaan Webb     12th December 2018 Australia- and Canada-focused gold miner Kirkland Lake is set to hit the one-million-ounce mark by 2021, the company said this week, announcing its three-year production guidance. The miner is targeting consolidated production growth of 10% to 15% a year over the next three years, with... 

Kirkland Lake's 1Moz/y target now in sight
The Fosterville mine, in Australia.

Amplats finalises R1.8bn Bafokeng Rasimone JV interest sale to RBPlat

By: Marleny Arnoldi     12th December 2018 Anglo American Platinum’s (Amplats’) subsidiary Rustenburg Platinum Mines (RPM) has completed the disposal of its 33% interest in the Bafokeng Rasimone Platinum Mine joint venture (JV) to Royal Bafokeng Platinum (RBPlat) and Royal Bafokeng Resources (RBR). RBR took ownership of the operation on... 

Amplats finalises R1.8bn Bafokeng Rasimone JV interest sale to RBPlat
Photo by Creamer Media
Amplats CEO Chris Griffith

Australia plans deal with US on 'critical minerals', hopes to boost its exports

By: Reuters     12th December 2018 Australia is this week set to sign a preliminary deal with the United States to support joint research and development of minerals deemed critical to the US economy, a government minister said on Wednesday. That comes as Washington is looking to diversify its sources of supply for 35 minerals... 

Titan readies for Vista commissioning

By: Esmarie Iannucci     12th December 2018 ASX-listed Titan Minerals has completed the construction of its plant and mill at its Vista gold project, in Southern Peru, on schedule and budget. The company is currently receiving ore at the plant to establish stockpiles for initial testing and dry commissioning of the plant over the coming... 

Alcoa signs up more gas in WA

By: Esmarie Iannucci     12th December 2018 Aluminium major Alcoa has secured three new gas supply agreements that would supply 25% of the company’s Western Australian gas requirements from 2020. Alcoa has struck agreements with providers BHP, Woodside and Chevron, and coupled with existing supply contracts with Santos and Quadrant... 

Battery Minerals tables feasibility study for Balama

By: Esmarie Iannucci     12th December 2018 A feasibility study into Balama graphite project, in Mozambique, has estimated a capital cost of $69.4-million to support production of 58 000 t/y over a mine life of 27 years. ASX-listed Battery Minerals said on Wednesday that Balama would generate earnings before interest, tax, depreciation... 

Indonesian investor secured for Awak Mas

By: Esmarie Iannucci     12th December 2018 The Awak Mas gold project, in Indonesia, is one step closer to development after owner Nusantara Resources secured a local cornerstone investor. ASX-listed Nusantara told shareholders that on completion of a A$10.25-million capital raising, integrated energy and resources company PT Indika... 

Indonesian investor secured for Awak Mas

CanAlaska and Cameco team up on West McArthur uranium project

By: Creamer Media Reporter      12th December 2018 Vancouver-based junior CanAlaska and uranium major Cameco have formed a joint venture (JV) on the West McArthur project, 6 km north-west of the McArthur River uranium mine. CanAlaska is the operator and 70% owner of the West McArthur JV, which is located in the Athabasca basin region, dubbed the... 

Crater eyes A$23m raising

By: Esmarie Iannucci     12th December 2018 ASX-listed junior Crater Gold Mining was hoping tor raise some A$23-million through an 11-for-2 renounceable rights issue, priced at 1.5c a share. Crater on Wednesday said that the issue price of 1.5c a share represented a discount of some 25% to the last closing price on December 11, and a... 

Universal nearly doubles NBC reserves

By: Esmarie Iannucci     12th December 2018 South Africa-focused coal miner Universal Coal has reported 98% increase in the ore reserve at its North Block Complex (NBC). The ASX-listed company on Wednesday said that the ore reserve at the NBC was now estimated at 55.5-million tonnes, compared with the previous estimate of 27.96-million... 

Universal nearly doubles NBC reserves

Higher commodity prices driving royalties - QRC

12th December 2018 The Queensland Resources Council (QRC) has estimated an additional A$500-million will be paid by the state’s mining and petroleum sectors in royalty taxes QRC CEO Ian Macfarlane said since the state Budget in May, strong metallurgical and thermal coal prices have boosted royalty tax returns to... 

Botswana’s Mowana copper mine suspends operations over working capital

By: Reuters     12th December 2018 Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday. Mowana had a conditional $4-million working capital facility from Fujax Minerals and Energy Limited,... 

Canadian junior miner sector's market cap up 6%

By: Creamer Media Reporter      11th December 2018 After several years of financial turmoil, followed by a gradual recovery, the Canadian junior mining sector has experienced a relatively quiet year in 2018, but advisory group PwC believes the sector is coming out of the bottom of the cycle and that optimism has returned. According to PwC... 

Amplats lowers production guidance for next three years

By: Marleny Arnoldi     11th December 2018 Anglo American Platinum (Amplats) on Tuesday said its production guidance would change from January 1, 2019, as Sibanye-Stillwater’s platinum group metals material would no longer be bought as concentrate, but toll treated, with the refined metal returned to Sibanye. Resultantly, metal in... 

Sibanye condemns violent protest at its South African gold mines 

By: Simone Liedtke     11th December 2018 Dual-listed Sibanye-Stillwater on Tuesday said the situation at its Beatrix gold operations, in the Free State, were tense amid continuing violent actions by groups allegedly affiliated to the Association of Mineworkers and Construction Union (AMCU). “In the early hours of December 11, various... 

Anglo anticipates continual production growth to 2022 

By: Marleny Arnoldi     11th December 2018 Diversified miner Anglo American is targeting incremental yearly earnings before interest, taxes, depreciation and amortisation (Ebitda) of between $3-billion and $4-billion by 2022. CE Mark Cutifani on Tuesday said the group had completely transformed the quality of its asset portfolio and its... 

Anglo anticipates continual production growth to 2022
Anglo American CEO Mark Cutifani

South Africa’s mining production increases 0.5% y/y – Stats SA

By: Tasneem Bulbulia     11th December 2018 Mining production lifted marginally, by 0.5% year-on-year, in October, primarily on the back of strong growth in platinum group metals (PGMs), diamonds and manganese ore output, according to Statistics South Africa (Stats SA). Production of PGMs, which occupy the second-highest weighting in the... 

Steenkampskraal to progress BFS following court case conclusion

By: Marleny Arnoldi     11th December 2018 Steenkampskraal Holdings (SHL) will now proceed with a bankable feasibility study (BFS) at its Steenkampskraal rare earths mine, in the Western Cape, following the conclusion of a court case between SHL and contractor ERES Engineering Projects. The High Court last week rescinded the contracts... 

Zambia Chamber of Mines welcomes new president

By: Simone Liedtke     11th December 2018 The Zambia Chamber of Mines has appointed Goodwell Mateyo as its new president. He succeeds Nathan Chishimba, who is retiring after two consecutive terms. Seasoned industry veteran Nicolas Bowen will serve as VP. 

New Mining Indaba competition draws attention to young talent in mining

By: Marleny Arnoldi     11th December 2018 Mining Indaba, which will be held at the Cape Town International Convention Centre from February 4 to 7, will introduce a new feature for 2019 – the Leaders of Tomorrow competition. The competition is part of the event’s young leaders programme, which is being produced in partnership with... 

Newcrest moves on two Chile gold projects

By: Mariaan Webb     11th December 2018 Australia-based gold major Newcrest Mining has expressed an interest in farming into the Gorbea projects, in Chile, which fellow major Yamana Gold previously explored in a joint venture with Mirasol Mining. Newcrest, which is already participating in other JVs with Mirasol, has signed a heads of... 

Harmony, Newcrest sign Wafi-Golpu gold mining project MoU with PNG govt  

By: Tasneem Bulbulia     11th December 2018 Harmony Gold and its Wafi-Golpu Joint Venture (WGJV) partner Newcrest Mining on Tuesday signed a memorandum of understanding (MoU) with the Independent State of Papua New Guinea, as an affirmation of the parties’ intent to proceed with the Wafi- Golpu gold mining project in Papua New Guinea. 

Kibo again extends development agreement deadline with Sepco III

By: Tasneem Bulbulia     11th December 2018 Dual-listed Kibo Energy’s board has elected to extend the deadline for the final confirmation of the strategic development agreement (SDA) with Sepco III for the Mbeya coal-to-power project (MCPP), in Tanzania, for a further four months to March 30, 2019. It has been agreed that this is a period... 

MC secures mining right for Chapudi project

By: Tasneem Bulbulia     11th December 2018 South Africa’s Department of Mineral Resources (DMR) has granted MC Mining a mining right for its 74%-owned Chapudi coking and thermal coal project, in the Limpopo province. The Chapudi project, together with the Mopane and Generaal projects, comprise the company’s longer-term Greater... 

MC secures mining right for Chapudi project
Photo by Creamer Media
MC Mining CEO David Brown

Capstone to debottleneck Cozamin

By: Mariaan Webb     11th December 2018 The Cozamin mine, the foundation upon which Canadian base metals miner Capstone Mining has been built, is set for a 30% production increase by the end of 2020, at an investment of less than $5-million. Production is currently constrained by the mine’s ability to deliver ore to the surface, but... 

Rio Tinto partner says yet to make big copper find at Western Australia site

By: Reuters     11th December 2018 Exploration by Rio Tinto at one of its sites in a part of Western Australia that has been touted as potentially rich in copper has so far failed to find any economically viable veins of ore, the miner's partner in the project said on Tuesday. Antipa Minerals lodged a series of exploration... 

Oil Search secures $300m in revolving credit

By: Esmarie Iannucci     11th December 2018 ASX-listed Oil Search has established $300-million corporate bilateral revolving credit facilities, providing the company with more financial flexibility. The company has entered into three separate $100-million bilateral revolving credit facilities with three major banks, Commonwealth Bank of... 

Alacer gains nearly 300 000 oz from Ardich

By: Esmarie Iannucci     11th December 2018 Gold miner Alacer Gold has reported a maiden mineral resource of 294 000 oz of gold at an average grade of 1.32 g/t gold for its Ardich oxide gold deposit, some 6km from its Çöpler gold mine. The project also hosts an inferred mineral resource of 85 000 oz, at an average grade of 1.2 g/t gold. 

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