R/€ = 16.10 Change: -0.04
R/$ = 13.65 Change: 0.01
Au 1275.08 $/oz Change: 27.19
Pt 926.50 $/oz Change: 42.00

Mining News

Stratex invests more in Thani Stratex

By: Mariaan Webb     6th December 2017 London-listed Stratex International on Wednesday announced that it would invest another $200 000 in Thani Stratex Resources (TSR), which is exploring for gold in Africa and the Middle East. The investment will increase Stratex’s holding in TSR from 29.8% to 30.1% and forms part of TSR’s share... 

Atrum incorporates Elan project directly into portfolio, reverses decision to list

By: Dylan Slater     6th December 2017 ASX-listed coal miner Atrum Coal has reversed a decision to list its Canada-based Elan Coal properties on a stock exchange and, instead, will integrate the mining project directly into its portfolio 

European Lithium announces capital raising

By: Creamer Media Reporter      6th December 2017 The developer of the Wolfsberg project in Austria, European Lithium, on Wednesday announced that it would place shares to raise up to $4-million, with an option to raise an additional $1-million. The company would undertake the placement at an issue price of $0.225 a share, which represented a... 

Fortescue awards Port Hedland towage operator contract

By: Mariaan Webb     6th December 2017 Iron-ore mining company Fortescue Metals has appointed Kotug Australia as its towage services operator for the port of Port Hedland. The new contract, which was awarded following a competitive tender process, will see Kotug supply an additional three tug boats to complement Fortescue’s six new... 

SA government takes healthcare services to Kuruman mineworkers

By: African News Agency      6th December 2017 Mineworkers in the manganese-rich town of Kuruman, in the Northern Cape, are set to benefit from integrated healthcare and social services after government partnered with the mining industry and workers associations to launch a centre on Tuesday. The One Stop Health Service Centre is aimed at... 

Data workers prove a rare resource for Barrick, fellow miners

By: Reuters     6th December 2017 Barrick Gold, the world's biggest gold miner, is staking new ground in a dogged push to overhaul its operations, seeking scarce artificial intelligence experts to oversee projects using technology for everything from exploration to robot-run mining. But for an industry perceived as slow-moving... 

Sprott backs Kin with A$35m for Leonora gold project

By: Mariaan Webb     6th December 2017 Emerging gold development company Kin Mining has secured A$35-million from Canada’s Sprott Private Resource Lending for the construction of its Leonora gold project, in Western Australia. The three-year loan provides Kin with sufficient funding to carry out preproduction capital works, including... 

Harmony Gold spells out value of Moab investment

By: Martin Creamer     6th December 2017 The acquisition of the Moab Khotsong gold mine represents a significant list of advantages for Harmony Gold, the company outlined in an investor brief on Wednesday. The Johannesburg Stock Exchange-listed gold mining company calculates that inclusion of the Moab Khotsong operations the company... 

Harmony Gold spells out value of Moab investment
Photo by Duane Daws
Harmony Gold CEO Peter Steenkamp

Mining should prepare for future of technology and automation

By: Mariaan Webb     6th December 2017 Global mining major BHP CEO Andrew Mackenzie says the mining industry has to show leadership and prepare its workforce for a future in which technology will play an ever-important role. In a philosophical address at the Melbourne Mining Club this week that also delved into how the West and the... 

Mining should prepare for future of technology and automation
BHP CEO Andrew Mackenzie

Teck forecasts higher Q4 realised coal prices

By: Henry Lazenby     6th December 2017 Canadian diversified miner Teck Resources has increased its forecast realised prices for all tonnes of coal sold in the fourth quarter to a range $165/t to $170/t, the Vancouver-based miner said on Tuesday. The TSX- and NYSE-listed company advised that its realised price for the period is now... 

US challenges Tronox plan to buy Cristal's titanium dioxide business

By: Reuters     6th December 2017 The US government has filed a complaint aimed at stopping chemical maker Tronox from purchasing Cristal's titanium dioxide business, the Federal Trade Commission said. The companies are two of the three top suppliers of chloride process titanium dioxide, used to make paint, plastic, paper and... 

Newmont to earn up to 70% stake in Esperance gold discovery in French Guiana

By: Henry Lazenby     6th December 2017 US gold producer Newmont Mining has entered an agreement with French miner Compagnie Miniere Esperance (CME) to earn up to a 70% interest in the Esperance gold discovery, in French Guiana. Newmont will make multi-year investments in the property, which it believes has multi-million ounce potential. 

Glencore bets big on car battery metals

By: Reuters     5th December 2017 Glencore has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards. The Anglo-Swiss company's output of cobalt and copper... 

Glencore bets big on car battery metals

Eurasia plans to operate at least two openpits at West Kytlim in 2018

By: Mariaan Webb     5th December 2017 London-listed Eurasia Mining is considering bringing on board mining contractors to operate more than one openpit at the West Kytlim platinum and gold mine in the Ural mountains to mitigate the risk of a single operator. This comes as the contractor, RegionMetall, discontinued operations in... 

Glencore-Canada venture hitched to low-carbon economy shift

By: Martin Creamer     5th December 2017 The joint venture partnership Glencore struck with a Canadian pension plan on Tuesday provides exposure to commodities that benefit from a low-carbon economy. BaseCore Metals, a 50:50 partnership centred on base metals streams and royalties, involves Glencore Canada Corporation contributing a... 

Glencore-Canada venture hitched to low-carbon economy shift
Glencore CEO Ivan Glasenberg

BlueRock surpasses monthly production target in Nov

By: Anine Kilian     5th December 2017 Aim-listed BlueRock Diamonds’ Kareevlei mine, in South Africa’s Northern Cape, surpassed its monthly target production of 25 000 t in November. Production increased by 56% month-on-month to 25 146 t. 

Russian Jan to Aug gold output at 193.58 t

By: Reuters     5th December 2017 Russia produced 193.58 t of gold in the first eight months of 2017, up from 179.73 t in the same period last year, the Finance Ministry said in a statement on Tuesday. Production for the period included 158.13 t of mined gold compared with 147.64 t a year ago. 

Rainbow ships first rare earths from Burundi mine

By: Anine Kilian     5th December 2017 LSE-listed exploration and development company Rainbow Rare Earths has exported its first shipment of rare earth concentrate from its Gakara project, in Burundi, making it Africa’s only rare earths producer. Gakara is one of the highest-grade rare earth element mining projects globally, with an... 

Diamond miner Alrosa refinances loan

By: Mariaan Webb     5th December 2017 Russian miner Alrosra has reduced its debt to $1.48-billion, following an early repayment of $120-million on its $720-million bank loan due in 2019. The diamond mining group has refinanced the balance of $600-million through two new loans of $350-million and $250-million issued by Raiffeisenbank... 

Record monthly output at Tembang

By: Creamer Media Reporter      5th December 2017 ASX-listed Sumatra Copper and Gold on Tuesday reported record monthly production from its Tembang gold/silver operation in Sumatra, Indonesia. Gold production for the month of November totalled 3 650 oz gold equivalent and is forecast to increase to 4 0000 oz gold equivalent in December. In 2018,... 

Kibaran to build battery-grade graphite producing pilot plant

By: Mia Breytenbach     5th December 2017 Following the successful completion of a feasibility study on downstream processing of graphite from its Epanko graphite project in Tanzania, ASX-listed Kibaran Resources will establish a pilot plant in Germany that will be expanded to commercial scale for the supply of  premium battery graphite... 

Allegiance takes full ownership of Canada’s Telkwa coal project

By: Mia Breytenbach     5th December 2017 ASX-listed Allegiance Coal has entered into an unconditional agreement with TSX-listed Altius Minerals to take full ownership of the Telkwa metallurgical coal project, in Canada, while the diversified royalty company will become a more significant shareholder in the miner. The company can now... 

Tanga to acquire Namibia zinc project, raises A$1.16m in placement

By: Mia Breytenbach     5th December 2017 ASX-listed Tanga Resources announced on Tuesday that it would acquire the high-grade Joumbira zinc project in Namibia and that it would raise A$1.16-million to fund the transaction and to start planned work programmes. The company entered into a binding option agreement to acquire 100% of the... 

44 projects selected in latest round of WA’s exploration programme

By: Creamer Media Reporter      5th December 2017 Western Australian Mines and Petroleum Minister Bill Johnston on Tuesday announced the 44 successful projects that would benefit from the state government's Exploration Incentive Scheme (EIS) cofounded drilling programme. The successful Round 16 applicants include lithium, gold, copper, base... 

Indonesia plans to acquire Rio Tinto interest in Freeport Indonesia mine

By: Reuters     5th December 2017 Indonesia plans to acquire Rio Tinto's 40% participating stake in the Grasberg copper mine operated by the local division of Freeport-McMoRan, part of government plans to control more of the country's resources. Under a joint venture formed in 1996, Rio has a 40% interest in Freeport's Grasberg... 

Newcrest agrees lower power tariff for Cadia, eyes renewable supply as long-term solution

By: Creamer Media Reporter      5th December 2017 Gold miner Newcrest has negotiated a lower electricity tariff for its Cadia operation, in New South Wales, which will assist in bringing down the New South Wales-based mine’s all-in sustaining costs to the lower-end of its $255-million to $295-million guidance range for the 2018 financial year.... 

South32 says Illawarra output to fall to 4.5Mt in FY18

By: Mariaan Webb     5th December 2017 Diversified miner South32 has given a production guidance for its Illawarra metallurgical coal operation, where the Appin colliery was suspended for about four months this year owing to concerns about a potential gas breach. The New South Wales-based Illawarra operation, which comprises the Appin... 

South32 says Illawarra output to fall to 4.5Mt in FY18

Govt directs CIL to improve productivity as wage bill swells

By: Ajoy K Das     5th December 2017 With Coal India Limited (CIL) missing production target in the April to November period, the Coal Ministry has reiterated that the miner will have to “focus on productivity and production growth” as the recent increase in wage bill could not be allowed to impact on the profitability of the... 

India likely to tweak iron ore fines grades to lower incidence of export tax

By: Ajoy K Das     5th December 2017 The Indian government is considering more gradations in iron-ore fines, based on ferrous content that will offer partial relief from incidence of export tax. The Mines Ministry has constituted a committee to review the existing export duty structure on iron-ore fines and to reconcile conflicting... 

B2Gold achieves commercial production at Fekola, ups mine guidance

By: Henry Lazenby     5th December 2017 Canadian gold producer B2Gold has declared commercial production at its Fekola mine, in Mali, last Thursday, achieving the feat four months ahead of the original schedule, and one month ahead of the revised schedule. Vancouver-based B2Gold advised that Fekola remains ahead of schedule, with gold... 

Nemaska delivers first lithium hydroxide made from own Whabouchi spodumene

By: Henry Lazenby     5th December 2017 The TSX-listed stock of lithium development company Nemaska Lithium jumped to a new 52-week high of C$2.24 apiece on Monday, after the company confirmed that it had delivered 1.5 t of lithium hydroxide produced from its Wabouchi spodumene mine, in Quebec. "This is the first time a new entrant to... 

Cleveland-Cliffs launches two debt offerings to fund first hot briquetted iron plant

By: Henry Lazenby     5th December 2017 US iron-ore producer Cleveland-Cliffs has launched two debt offerings totalling $716-million to help fund its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Based in Cleveland, Ohio,... 

One of world's largest diamonds fetches $6.5m to aid Sierra Leone

By: Reuters     5th December 2017 One of the world's largest diamonds was sold for $6.5-million by Sierra Leone on Monday to fund local development projects, dealing a blow to smugglers in the West African nation. The egg-sized, 709-ct diamond found by a Christian pastor was bought at auction in New York by Laurence Graff, a... 

Santander keeps on giving as Trevali traces mineralisation at depth

By: Henry Lazenby     5th December 2017 Zinc miner Trevali Mining has published encouraging results from its 2017 exploration programme, where directional diamond drilling continues to intersect multiple zones of high-grade zinc mineralisation within and below the Santander Pipe target, at its Santander zinc mine, in Peru. Highlights... 

Nevsun expands strongly mineralised trend at Timok

By: Henry Lazenby     5th December 2017 Ongoing exploration drilling on the Lower Zone at Canadian base metals miner Nevsun Resources’ Timok copper/gold project, in Serbia, has expanded the footprint by about 350 m by 750 m and continues to confirm the high grade, continuity and thickness of the mineralisation, the company announced on... 

Chile cenbank maintains growth forecast for 2018

By: Reuters     4th December 2017 Chile's central bank held its 2018 economic growth forecast of 2.5% to 3.5% on Monday, while revising downward slightly its forecast for inflation and leaving open the possibility for lowering interest rates.In its end-of-year IPoM economic report, the bank also predicted 2017 gross domestic... 

Uranium companies jump on another round of Kazatomprom production cuts

By: Henry Lazenby     4th December 2017 An announcement Monday by the world’s largest uranium producer, the National Atomic Company of the Republic of Kazakhstan (Kazatomprom), that it would curtail another 20% of output for three years, starting from January, sent most TSX-listed uranium companies’ equities soaring. The national miner... 

Uranium companies jump on another round of Kazatomprom production cuts

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