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Mining News

Kirkland Lake disposes of Australian Stawell assets

By: Henry Lazenby     11th December 2017 Triple-listed Kirkland Lake Gold has agreed to sell affiliate Stawell Gold Mines to private firm Arete Capital Partners. Stawell Gold Mines, which holds the Stawell gold mine, located in Victoria, Australia, will pay $6.25-million in cash for the assets, with Kirkland set to retain a 2.5% net... 

Cameco, Kazatomprom restructure JV Inkai

By: Henry Lazenby     11th December 2017 Canadian uranium producer Cameco and the National Atomic Company of the Republic of Kazakhstan (Kazatomprom) have agreed to restructure their joint venture over the Inkai in situ recovery uranium mine, in south Kazakhstan. Kazatomprom CEO Galymzhan Pirmatov and Cameco president and CEO Tim Gitzel... 

Rusoro wins $1.3bn judgment against Venezuela

By: Henry Lazenby     11th December 2017 Mining junior Rusoro Mining last week won a major victory in its international arbitration complaint against Venezuela, when the Superior Court of Justice in Ontario issued a default judgment owing to Venezuela’s failure to appear. TSX-V-listed Rusoro advised that the judgment was for more than... 

Trade union wins temporary random drug testing victory against Suncor

By: Henry Lazenby     11th December 2017 Unionised workers at Suncor’s Wood Buffalo operations, in northern Alberta, won an important victory last week regarding random drug testing by their employer, Suncor Energy. The Court of Queen's Bench of Alberta issued an injunction on Suncor on Thursday, prohibiting the employer from randomly... 

Trade union wins temporary random drug testing victory against Suncor

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Lead project engineers appointed for Waterberg JV project

By: Creamer Media Reporter      11th December 2017 A technical committee appointed by Waterberg JV Resources, which holds the Waterberg platinum project, in South Africa, has appointed Stantec Consulting International and DRA Projects South Africa as lead independent project engineers. Stantec will focus on underground mining engineering and... 

Cyril Ramaphosa calls for mining sector action

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Mkango receives conditional TSX-V approval for Talaxis transaction

By: Mia Breytenbach     11th December 2017 The TSX-V has conditionally accepted dual-listed Mkango Resources’ transaction with Noble Group subsidiary Talaxis, which will invest £12-million to fund a bankable feasibility study (BFS) at Mkango’s Songwe Hill rare-earth project in Malawi. "We are very pleased to announce conditional... 

India’s Mines Ministry seeks to make it easier to do business

By: Ajoy K Das     11th December 2017 India’s Mines Ministry is considering administrative changes to improve the “ease of doing business” in the resources industry. One of the changes under consideration is to put each mineral block to be auctioned under a special purpose vehicle (SPV) of the government, which will secure all... 

Weatherly’s losses more than triple on back of Tschudi operational challenges

By: Mia Breytenbach     11th December 2017 Despite a revenue increase to $75.1-million from $63.7-million for the year ended June 30, Aim-listed Weatherly International’s losses for the year ended June 30 have more than tripled to about $40.1-million from $10.6-million, the company reported on Monday. Losses a share widened to $3.64 from... 

Coal India faces fresh wage bill hike

By: Ajoy K Das     11th December 2017 Close on heels of finalising salaries and wage increases for employees and workers on its payroll, Coal India Limited (CIL) will face another jump in its wage bill as the miner starts negotiating wage agreements for its 200 000 to 300 000 contract workers. A high-power committee has been... 

Argentina acquisition marks start of strategic shift for Cadence

By: Mariaan Webb     11th December 2017 UK-based mining investment firm Cadence Minerals has marked the shift to a new focus of investing in early stage lithium assets with shorter development timelines than that of typical lithium carbonate producers, with the news on Monday of an Argentina acquisition. The company announced that it... 

Argentina acquisition marks start of strategic shift for Cadence

Tsodilo acquires sorter for final recovery at BK16

By: Natasha Odendaal     11th December 2017 TSX-V-listed Tsodilo Resources has finalised the final recovery circuit of the dense medium separation (DMS) plant at its BK16 kimberlite project, in Botswana, with the purchase of a Polus-M sorter from Russian X-ray sorter manufacturer Bourevestnik. The new sorter for the final recovery plant... 

Strategic Minerals encouraged by Cornwall tin/tungsten drilling results

By: Creamer Media Reporter      11th December 2017 Aim-listed explorer Strategic Minerals and its joint venture (JV) partner are considering methods of expediting the Redmoor tin/tungsten project in south-west England, following better-than-expected drilling results. Phase 2 of the 2017 drilling programme at the project, held in a JV with New Age... 

Resgen signs coal offtake agreement with Noble

By: Dylan Slater     11th December 2017 Coal miner Resource Generation’s (Resgen’s) Ledjadja Coal Limited (LCL) subsidiary has signed an offtake agreement with energy products company Noble Resources International for the supply of additional uncontracted coal to be produced at the Boikarabelo mine, in South Africa’s Waterberg region 

Goldplat, Rand Refinery agree to arbitration

By: Natasha Odendaal     11th December 2017 Tangible progress is being made towards the settlement of Aim-listed Goldplat’s dispute with Rand Refinery, with both parties having agreed to arbitration after a protracted period of negotiations. Goldplat on Monday said the parties formally agreed on an arbitration process for the recovery of... 

Goldplat, Rand Refinery agree to arbitration

Novo Litio changes European lithium plans

By: Mariaan Webb     11th December 2017 Shares in ASX-listed Novo Litio fell 15% on Monday as the company announced an update to its European lithium strategy. The company said its focus would shift to generating new lithium drill targets on its landholding in the northern Portugal lithium belt, although it would continue to pursue... 

Richland halts operations at Queensland sapphire mine

By: Mariaan Webb     11th December 2017 Aim-listed Richland Resources has temporarily suspended mining activities at its Capricorn sapphire mine, in Queensland, citing extreme weather conditions and a weak market environment. The company said on Monday that it had decided to halt operations to conserve cash resources, as heavy rainfall... 

Sayona embarks on DFS for Canada lithium project

By: Natasha Odendaal     11th December 2017 ASX-listed Sayona Mining has started a definitive feasibility study (DFS) for the Authier lithium project, in Canada, after an optimised prefeasibility study (PFS) reiterated “excellent returns”. The PFS, incorporating an updated ore reserve and mineral resource, estimated low start-up capital... 

Barrick approves exploration funding for Guyana earn-in

By: Creamer Media Reporter      11th December 2017 US gold major Barrick Gold has elected to continue funding the Arakaka gold project, in Guyana, in which it could earn up to 65% by spending $10-million. ASX-listed junior Alicanto Minerals, which is the operator of the Arakaka project, said on Monday that Barrick had agreed to fund the third... 

India gov't favours petcoke import ban, US would be biggest loser

By: Reuters     11th December 2017 India's government is in favour of banning imports of petroleum coke to curb air pollution, according to a government affidavit filed with its top court, which could be a big blow to US refiners who export heavily to the country. The Supreme Court, which in October banned the use of petroleum... 

Hannans raises A$3.6m for WA exploration

By: Mariaan Webb     11th December 2017 ASX-listed junior Hannans has raised A$3.6-million in an oversubscribed capital raising to fund continued exploration for lithium at the Forrestania project, in Western Australia. The project is near the Earl Grey lithium project being developed by NYSE-listed SQM and Australian miner Kidman... 

Southern Gold in advanced talks for Cannon underground

By: Natasha Odendaal     11th December 2017 ASX-listed Southern Gold has advanced discussions with multiple parties over the financing and commercial arrangements for the development of the underground mine at the Cannon project, in Western Australia. The gold explorer and producer expected to conclude the talks and align the arrangements... 

Doray reports record production at Deflector

By: Creamer Media Reporter      11th December 2017 The Deflector underground mine, in Western Australia, has delivered record gold production last month. The Deflector mine produced 5 895 oz of gold in November, compared with the precious record of 5 050 oz in October, ASX-listed Doray Minerals reported on Monday. 

ArcelorMittal's coal miners stage sit-in at four mines in Kazakhstan

By: Reuters     11th December 2017 About 200 coal miners in Kazakhstan refused to leave four mines operated by a unit of ArcelorMittal at the end of their shift on Monday and staged a sit-in, the company said in a statement. ArcelorMittal Temirtau said it was in talks with the miners' trade union, without providing any further... 

Downer, Ausenco awarded $312m Carrapateena contract

By: Mariaan Webb     11th December 2017 South Australian copper and gold miner Oz Minerals has awarded engineering groups Downer EDI and Ausenco a $312-million contract at the Carrapateena mine. The companies have been contracted for the engineering, procurement and construction of a new minerals processing plant, including non-process... 

Congolese lower house adopts new mining code that increases taxes

By: Reuters     11th December 2017 The Congolese lower house of parliament has adopted a new mining code that will increase taxes and royalties, two members of parliament and an aide to the speaker said. The code had originally been proposed in 2015, but was shelved because of fierce objections from mining companies, which... 

Thor’s ASX shares surge on Pilbara option

By: Mariaan Webb     11th December 2017 Shares in dual listed Thor Mining gained by 55% on the ASX on Monday, after the company announced to the Australian market that it had entered into an option agreement to acquire a project with potential for conglomerate gold in the Pilbara. UK-headquartered Thor, which made the initial... 

WA EPA recommends BHP’s Southern Flank for approval

By: Mariaan Webb     11th December 2017 Western Australia’s Environmental Protection Authority (EPA) has recommended diversified major BHP’s proposal to expand its Mining Area C iron-ore operations for environmental approval. The Southern Flank operation, about 100 km from Newman, will expand the existing Mining Area C hub and is BHP’s... 

Mineral Resources trumps Chinese bid for Australian gas producer AWE

By: Reuters     11th December 2017 Australia's Mineral Resources has offered A$484-million for domestic gas producer AWE, topping a sweetened bid from State-owned China Energy Reserve and Chemicals Group (CERCG). The two suitors are targeting AWE's stake in a gas project in Western Australia, Waitsia, which the company has called... 

Mineral Resources trumps Chinese bid for Australian gas producer AWE

Cobalt 27 adds more than 700 t cobalt metal to stockpile at $36/lb

By: Henry Lazenby     9th December 2017 Cobalt direct investment vehicle Cobalt 27 has announced that it plans to add about 720 metric tonnes of physical cobalt metal to its current stockpile of just under 2 200 t. The Toronto-headquartered company said on Thursday it has entered an agreement with a syndicate of underwriters co-led by... 

Condor Gold focused on resource expansion as permitting delay weighs

By: Henry Lazenby     9th December 2017 Despite permit delays, it’s been a good year for Condor Gold as it continues work on proving up a large commercial reserve on its 100%-owned La India project, in Nicaragua. Chairperson and CEO Mark Child is currently on a three-week visit to Nicaragua to smooth over relations with the government... 

First mover Noront shifts RoF focus to Cu/Zn exploration

By: Henry Lazenby     8th December 2017 With the first commitments in place to build roads into Northern Ontario’s emerging Ring of Fire (RoF) mining camp, regional first mover Noront Resources is taking the opportunity to continue to build out its inventory of polymetallic resources by prioritising copper/zinc targets for exploration... 

First mover Noront shifts RoF focus to Cu/Zn exploration

Brazil's Vale says to slash debt to $10bn by 2019

By: Reuters     8th December 2017 Brazilian miner Vale will likely reduce its $21-billion debt load to $10-billion by 2019, and will dedicate cash flow from then on to paying out dividends, the CFO of the world's top iron-ore producer said on Friday. "The message is very clear here, which is that beyond the achievement of the... 

Alta Zinc says updated resource estimate supports growth strategy

By: Creamer Media Reporter      8th December 2017 ASX-listed Alta Zinc, formerly Energia Minerals, has updated the mineral resource estimate for the Colonna Zorzone deposit at its Gorno zinc project, in northern Italy.The resource estimation revision, which was commissioned to include all drilling results obtained to date, primarily focused on... 

Tanzania-Zambia railway authority resumes transportation of copper

By: Reuters     8th December 2017 The Tanzania-Zambia Railway Authority (TAZARA) said on Friday it had resumed transportation of copper which it halted on Tuesday after unionised workers went on strike. TAZARA suspended all train services, including the transportation of copper following a strike by workers in Africa's... 

Omnia files contempt of court case at Foskor over contentious phosphoric acid pricing

By: Dylan Slater     8th December 2017 Diversified chemicals producer Omnia has filed a contempt of court case against phosphates and phosphoric acid producer Foskor over the alleged breaching of a court order by the Competition Tribunal 

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