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Mining News

Woodside awards Scarborough contracts ahead of FID next year

By: Esmarie Iannucci     16th January 2019 Australian oil and gas major Woodside is pushing ahead with the development of its $11-billion Scarborough gas project, announcing four contract awards for front-end engineering design activities. CEO Peter Coleman said the award of the contracts would support the project schedule and Woodside’s... 

Ardmore on track for 2019

By: Esmarie Iannucci     16th January 2019 ASX-listed Centrex Metals on Wednesday told shareholders that the start-up operation at its Ardmore phosphate rock project, in Queensland, was on track to start production in 2019, with commissioning targeted for mid-2019. The start-up operation is targeted at producing some 30 000 t of... 

Golden Investments says Stanmore offer final

By: Esmarie Iannucci     16th January 2019 Suitor Golden Investments has told the shareholders of ASX-listed Stanmore Coal that it will not be increasing its offer price of 95c a share, and that it will not extend its offer date past January 22. Stanmore in December urged shareholders to reject the offer, saying the price was “materially... 

Golden Investments says Stanmore offer final

South African faith communities back Xolobeni community's resistance against mining exploration

By: African News Agency      16th January 2019 The Southern African Faith Communities Environment Institute (Safcei) on Tuesday came out in support of the Amadiba Crisis Committee (ACC) action group and called on Mineral Resources Minister Gwede Mantashe to stay away from Xolobeni. Mantashe is set to visit the volatile Xolobeni community in... 

Project Halo refutes allegations of favoritism in bid to acquire Optimum, Koornfontein mines 

By: African News Agency      16th January 2019 Project Halo – the consortium which came out as the preferred bidder in the highly-contested purchase of coal mine previously owned by the Gupta family – on Tuesday rejected allegations of impropriety in the way it secured the bid to acquire mine and other related assets.  Last year, Project Halo... 

Ford, IBM among quartet in Congo cobalt blockchain project

By: Reuters     16th January 2019 Carmaker Ford, technology giant IBM, South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. The pilot, overseen by responsible-sourcing group RCS Global, aims to help... 

Vale gets approval to buy 3 wind farms in northeast

By: Reuters     16th January 2019 Iron-ore miner Vale SA has won approval from Brazil's antitrust regulator to buy three wind farms in the northeast of the country from investment fund Salus, according to an announcement in the official gazette on Tuesday. In announcing its decision, the Administrative Council for Economic... 

Norsk Hydro says Alunorte production embargo lifted

By: Reuters     16th January 2019 Norwegian aluminium-maker Norsk Hydro said on Tuesday that Brazil's northern state of Para has lifted a production embargo on its Alunorte alumina refinery, but noted that full production will not resume until a federal court follows suit. The plant is operating at half capacity after admitting... 

Vedanta tells top English court pollution case should be heard in Zambia

By: Reuters     16th January 2019 Lawyers for Vedanta Resources told England's Supreme Court on Tuesday that a case raised against the mining company by nearly 2 000 Zambian villagers should be heard in Zambia not London. India-listed Vedanta, which delisted from London last year but maintains a legal base in Britain, is... 

NUM to lead protest march in Pretoria over unpaid colliery mineworkers’ salaries

By: Tasneem Bulbulia     15th January 2019 The National Union of Mineworkers (NUM) in the Highveld Region will lead a protest march on Wednesday, in Pretoria, to demand the immediate payment of salaries owed to hundreds of mineworkers at the Optimum and Koornfontein collieries, in Mpumalanga.   

November mining production down 5.6% y/y  

By: Tasneem Bulbulia     15th January 2019 South Africa’s mining production decreased by 5.6% year-on-year in November. Statistics South Africa on Tuesday reported that the largest contributors to the decrease had been the iron-ore, gold, diamonds and other non-metallic minerals sectors. 

Anglo American begins quest to unearth next CEO 

By: Reuters     15th January 2019 Anglo American has promoted a section head it considers to have CEO potential, focusing its attention on internal talent as it begins searching for a successor to the man who steered the mining company through the 2015/16 commodities price slump. CEO Mark Cutifani has won plaudits for his... 

Anglo American begins quest to unearth next CEO
Photo by Creamer Media
Mark Cutifani

Trapped Indian miners presumed dead

By: Ajoy K Das     15th January 2019 After more than a month, 15 illegal miners trapped in a coal mine in the north-eastern Indian state of Meghalaya are presumed to be dead even though the Supreme Court monitoring rescue operations said that “hunt must continue as miracles do happen”. On December 13, 15 miners were trapped 370 ft... 

IDM wins environmental approval for Red Mountain

By: Creamer Media Reporter      15th January 2019 Canada’s Environment and Climate Change Minister Catherine McKenna has announced an environmental decision for the underground gold and silver mine that IDM Mining is proposing near Stewart, British Columbia. The Minister said that the proposed mine was not likely to cause significant adverse... 

Newfield Resources marks progress at Tongo project

By: Tasneem Bulbulia     15th January 2019 ASX-listed Newfield Resources is, along with its technical partners PPM, SRK Consulting and Datamine, nearing completion of the front-end engineering design study for its Tongo diamond project, in Sierra Leone. The outcome of the study is expected to be released in the first quarter of this year. 

McEwen output tops guidance

By: Mariaan Webb     15th January 2019 NYSE- and TSX-listed gold miner McEwen Mining reported on Tuesday that its 2018 production had topped its guidance, with gold equivalent output (GE) rising to 175 561 oz, comprising 135 124 oz of gold and 3.03-million ounces of silver. The production compares with 152 329 oz of GE in 2017, and... 

Atalaya beats FY guidance, sees 2019 as ‘transitional’ year

By: Mariaan Webb     15th January 2019 European copper miner Atalaya Mining has set a production guidance range of 45 000 t to 46 500 t for 2019, which is seen as a transitional year, given the commissioning of the plant expansion in mid-2019, which will increase production in 2020. The miner, which is implementing a... 

Yamana Gold production hits 1Moz

By: Mariaan Webb     15th January 2019 Canadian miner Yamana Gold’s production has hit one-million ounces on a gold-equivalent (GE) basis, the company, which operates six mines, announced on Monday. In its preliminary fourth-quarter and 2018 operational results announcement, Yamana reported GE production 1.04-million ounces for the... 

We have never invited Mantashe to Xolobeni – Amadiba Crisis Committee

By: African News Agency      15th January 2019 The Amadiba Crisis Committee (ACC) action group on Tuesday contradicted the statement by Mineral Resources Minister Gwede Mantashe that he would be visiting the volatile Xolobeni community in the Eastern Cape once again on the invitation of the ACC. This comes as the situation continues to... 

We have never invited Mantashe to Xolobeni – Amadiba Crisis Committee
Mineral Resources Minister Gwede Mantashe

Packed work programme ahead for Emmerson’s Morocco potash project

By: Marleny Arnoldi     15th January 2019 LSE-listed mine developer Emmerson CEO Hayden Locke has confirmed that numerous workstreams are under way or due to start throughout this year, including drilling, testing, prefeasibility and discussions with partners and offtakers, at the Khemisset potash project, in Morocco. The company... 

Packed work programme ahead for Emmerson’s Morocco potash project
Photo by Bloomberg
Potash ore

Alamos lifts FY18 output by 18% y/y

By: Tasneem Bulbulia     15th January 2019 Alamos Gold produced 505 000 oz of gold in 2018, meeting its guidance and marking an 18% year-on-year increase. “This was driven by strong performances from Mulatos [,in Mexico] and Island Gold [,in Canada], the latter setting a new record for production and continuing to demonstrate strong... 

Stokes offloads shares in Saracen

By: Esmarie Iannucci     15th January 2019 Australian billionaire Kerry Stokes has offloaded about A$30-million worth of shares in ASX-listed gold miner Saracen Mineral Holdings. Prior to the on-market share sale, Stokes, through his privately held financial firm Wroxby, had held a 6% interest in Saracen, which currently has more than... 

Recommissioned Savannah to ship first concentrates early next month

By: Esmarie Iannucci     15th January 2019 The first concentrate shipment from the recommissioned Savannah nickel/copper/cobalt project, in Western Australia, is expected in early February, ASX-listed Panoramic Resources said on Tuesday. The company told shareholders that mining ramp-up to full production was continuing, with the... 

Recommissioned Savannah to ship first concentrates early next month

Fischer steps down as GoldQuest CEO

By: Creamer Media Reporter      15th January 2019 Exploration junior GoldQuest has appointed VP for corporate development, Dave Massola, as its CEO, succeeding Bill Fischer, who is continuing as nonexecutive chairperson of the board. The purpose of the management change, the TSX-V-listed junior explains, is to conserve capital, while licencing... 

Talga finds possible buyer for graphite

By: Esmarie Iannucci     15th January 2019 ASX-listed Talga Resources has inked a letter of intent (LoI) with a subsidiary of Germany’s Schunk Group to cooperate on the exploration and incorporation of Talga graphene into a Schunk product with applications in the automotive sector. Schunk is a globally operating technology company with... 

Sibanye, Lonmin extend merger longstop date to June

By: Marleny Arnoldi     15th January 2019 Precious metals miner Sibanye-Stillwater and platinum group metals miner Lonmin have agreed to extend the longstop date for the transaction in which Sibanye will acquire all of Lonmin’s issued share capital from February 28 to June 30. This follows after the Association of Mineworkers and... 

Metals X ups the output at Nifty and Renison

By: Esmarie Iannucci     15th January 2019 Base metals producer Metals X has reported increased production from both its Nifty copper and Renison tin projects, in Western Australia and Tasmania, respectively. The ASX-listed company on Tuesday reported that copper production from Nifty increased by 11% during the quarter ended December,... 

Boonanarring delivers first revenue

By: Esmarie Iannucci     15th January 2019 ASX-listed Image Resources has received the first revenue from its Boonanarring mineral sands project, in Western Australia, after loading its first bulk shipment of 10 000 t of heavy mineral concentrate. The concentrate will be shipped to China s part of an offtake agreement with Shantou... 

Prieska resource standing at 30Mt - Orion

By: Esmarie Iannucci     15th January 2019 The mineral resource at the Prieska zinc/copper project, in South Africa, has been estimated at more than 30-million tonnes, grading 3.7% zinc and 1.2% copper, base metals developer Orion Minerals has reported. The dual-listed company noted that the new resource estimate included an updated... 

Sibanye banks on US mines, high palladium price as South African strike spreads 

By: Marleny Arnoldi     15th January 2019 In response to the Association of Mineworkers and Construction Union’s (AMCU’s) secondary strike action announcement, Sibanye-Stillwater CEO Neal Froneman on Tuesday said the company had been preparing its local platinum operations for this outcome and had contingency plans in place. AMCU on... 

Sibanye banks on US mines, high palladium price as South African strike spreads
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Goldman models risk of 1 000 basis point Eskom blowout for South Africa  

By: Reuters     15th January 2019 Investment bank Goldman Sachs said South Africa's rand could tumble 3.5% if State-run power utility Eskom suffers a major sell-off in its bonds, but it could also jump 4.5% if the firm's troubles improve. Goldman's analysts said an Eskom risk gauge used by the bank was now close to its most... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa

Investec lifts shareholding in Sibanye above 5%

By: Marleny Arnoldi     15th January 2019 Financial services company Investec has acquired a further interest in the ordinary shares of Sibanye-Stillwater, taking its overall shareholding to 5.0393% of the company’s issued shares.  

Argentina set to join global mining transparency initiative

By: Reuters     15th January 2019 Resource-rich Argentina is expected to join the international transparency standard for managing oil, gas and mineral resources, the Extractive Industries Transparency Initiative (EITI) said on Monday, which could make it more attractive for investors. The global initiative, launched by... 

Organisations criticise ‘untransparent’ and ‘inefficient’ Eskom

By: Kim Cloete     14th January 2019 The Organisation Undoing Tax Abuse (Outa) has suggested that Eskom should be granted an electricity tariff increase of only 5% over the next three years and pushed for a radical overhaul of the utility. “We recommend a consumer price index tariff increase of 5% a year for the multiyear price... 

Russia's Alrosa returns to diamond exploration in Zimbabwe

By: Reuters     14th January 2019 Russian diamond giant Alrosa has set up a subsidiary in Zimbabwe to begin mining operations there, it said on Monday, more than two years after it shelved plans to expand into the southern African country. Alrosa, the world's largest diamond producer by output, started conducting geological... 

Goldcorp achieves 2018 production guidance

By: Tasneem Bulbulia     14th January 2019 Vancouver-headquartered Goldcorp, which on Monday announced a $10-billion merger with gold major Newmont, produced 630 000 oz of gold in the fourth quarter of 2018, a 25% increase from the third quarter of 2018, and exceeding its previously stated guidance. Production for the year ended 2018 was... 

Eskom warns of 'debt trap' as it pleads for 15% hike  

By: Kim Cloete     14th January 2019 Eskom CEO Phakamani Hadebe has apologised for the severe predicament Eskom is in, but has pleaded for an electricity tariff increase of 15% over the next three years.   Hadebe made the call at the opening of public hearings into electricity tariffs held by the National Energy Regulator of South... 

Eskom warns of 'debt trap' as it pleads for 15% hike
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

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