http://www.engineeringnews.co.za
R/€ = 16.63 Change: 0.01
R/$ = 14.35 Change: 0.02
Au 1227.29 $/oz Change: -0.40
Pt 843.50 $/oz Change: -0.04
 

Mining News

Fortescue launches A$500m share buy-back

By: Esmarie Iannucci     11th October 2018 Iron-ore major Fortescue Metals has launched a A$500-million share buy-back programme. CEO Elizabeth Gaines told shareholders on Thursday that the share buy-back was a natural extension of the company’s capital allocation focus, which has shifted from debt reduction following the rapid de-gearing... 

Pacton buys into more Pilbara land

By: Esmarie Iannucci     11th October 2018 Canadian miner Pacton Gold has entered into a binding letter of intent with ASX-listed Clancy Exploration over the Hong Kong project, in the Pilbara. Under the letter of intent, Pacton would acquire a 70% interest in the Hong Kong project for a total of C$1.7-million, comprising a C$25 000... 

Barrick Gold maintains 2018 gold and copper guidance

By: Mariaan Webb     11th October 2018 NYSE- and TSX-listed Barrick Gold has maintained its 2018 production guidance at 4.5-million to 5-million ounces and its copper guidance at 345-million to 410-million pounds, after reporting preliminary third-quarter production results. The miner, which recently agreed to buy London-listed... 

Barrick Gold maintains 2018 gold and copper guidance
The Lumwana copper mine in Zambia.

Rio Tinto to restart sale of Icelandic aluminium plant – sources

By: Reuters     10th October 2018 Rio Tinto is close to restarting a sale process for some of its aluminium assets, including a plant in Iceland, which have been valued at around $350-million, two sources familiar with the matter said. The assets include a 53% stake in a Dutch anode facility and 50% of the shares in a Swedish... 

Wolf in administration as it fails to secure funding

By: Mariaan Webb     10th October 2018 The owner of the Drakelands openpit mine in the UK has run out of money and has gone into voluntary administration. Speciality metals producer Wolf Minerals announced on Wednesday that it had failed to secure funding and that it was not in a position to meet its short-term working capital... 

Wolf in administration as it fails to secure funding
The Drakelands mine, in Devon.

DMR accepts Waterberg mining right application – PTM

By: Marleny Arnoldi     10th October 2018 The Department of Mineral Resources (DMR) has accepted TSX- and NYSE-listed Platinum Group Metals’ (PTM’s) mining right application for the large-scale Waterberg platinum group metals (PGMs) project. The application comprises a mining work programme, social and labour plan, and associated... 

Plea for govt to awaken to massive economic potential of mining  

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

Plea for govt to awaken to massive economic potential of mining
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer on South Africa’s massive mining opportunity loss. Video, Video Editing and Photographs: Christo Greyling.

Commission recommends tribunal approve RPM buyout of Mototolo

By: Marleny Arnoldi     10th October 2018 The Competition Commission has recommended to the Competition Tribunal that it approve Rustenburg Platinum Mines’ (RPM’s) acquisition of the Mototolo Joint Venture (Mototolo JV) and the movable assets of the Mototolo chrome recovery circuit. The commission found that the proposed transaction... 

Alaska's Graphite Creek is potentially key to US defence industrial base

By: Mariaan Webb     10th October 2018 The Graphite Creek graphite project that TSX-V-listed Graphite One Resources is studying in Alaska could be a key source of supply for the US defence industry, which has recommended that the country reduce its import reliance for critical equipment and material. Commenting on the White House/US... 

Avesoro on track to convert 1Moz from resources to reserves

By: Marleny Arnoldi     10th October 2018 TSX- and Aim-listed Avesoro Resources has reported positive drill results from its Ouaré and Gassore West deposits, and the discovery of two mineralised vein systems that are 1.5 km east of the company’s Youga gold processing plant, in Burkina Faso. Avesoro aims to convert 1-million ounces of... 

Atalaya ups guidance following record Q3

By: Mariaan Webb     10th October 2018 Copper production at the Proyecto Riotinto mine has exceeded Atalaya Mining’s expectations, prompting the Aim- and TSX-listed miner to increase its full-year guidance by 2 000 t. Proyecto Riotinto, in southwest Spain, delivered its highest-ever copper production of 11 055 t in the third quarter... 

Atalaya ups guidance following record Q3
The Proyecto Riotinto mine, in Spain, reported record third-quarter output.

Prognoz likely to succeed Dukat as one of world’s largest silver deposits – Polymetal

By: Creamer Media Reporter      10th October 2018 LSE-listed Polymetal has announced an updated mineral resource estimate for the Prognoz silver deposit, in Yakutia, Russia, which the company says has the potential to be one of the world’s largest primary silver deposits. Prognoz has resources of 256-million ounces of silver-equivalent at 789 g/t. 

Hydro CEO says focus on full output at Alunorte, no layoffs

By: Reuters     10th October 2018 Norway's Norsk Hydro is focused on a return to full output at its Alunorte alumina refinery in Brazil and is not contemplating layoffs there, CEO Svein Richard Brandtzaeg told Reuters on Wednesday. Hydro had said last week it would close down the world's largest alumina refinery and lay off 4... 

DRC, Tanzania resource nationalist measures more extreme – Leon 

By: Martin Creamer     10th October 2018 The resource nationalist measures being implemented in the Democratic Republic of Congo (DRC) and Tanzania are significantly more extreme than those being adopted and even considered in most other African countries. One likely reason for this is that the DRC and Tanzania both suffer from... 

DRC, Tanzania resource nationalist measures more extreme – Leon
Photo by Creamer Media
Peter Leon

Dollar shortage 'short-term problem' for miners in Zimbabwe – Minister

By: Reuters     10th October 2018 A dollar shortage that has sparked outrage from mining companies operating in Zimbabwe is a "short-term problem" that will be remedied by a stronger economy, the mines minister told Reuters. Zimbabwe is suffering acute shortages of US dollars, deterring foreign capital from helping the ailing... 

Tulu Kapi on track for 2019 construction start

By: Marleny Arnoldi     10th October 2018 Aim-listed Kefi Minerals made progress with preparations for the development of its Tulu Kapi project, in Ethiopia, in the third quarter ended September 30. Project development funding has been secured through the Ethiopian government, which committed $20-million over 2019 and 2020 to fund... 

New equipment to boost PE port’s manganese export capacity by 1.8 Mt/y

By: Marleny Arnoldi     10th October 2018 Transnet Port Terminals (TPT) has taken delivery of the first two of four RAM rotating spreaders that are set to create an additional 1.8-million tons a year of capacity for manganese exports at its Port Elizabeth (PE) terminal. A further two spreaders will arrive from China at the end of... 

New equipment to boost PE port’s manganese export capacity by 1.8 Mt/y
Port Elizabeth Port

Titan appoints former Arizona directors to its board

By: Mariaan Webb     10th October 2018 Zinc miner Titan Mining has appointed three new board members, all of whom served on the board of Arizona Mining, which was taken over by South32 in a $1.3bn deal. The TSX-listed company, which owns the Empire State Mine (ESM) in New York state, appointed former speaker John Boehner, former... 

Monarques to graduate to TSX

By: Creamer Media Reporter      10th October 2018 Emerging gold miner Monarques, which focuses its growth efforts in the Abitibi mining camp of Quebec, has received conditional approval to move its listing to the TSX. The listing is subject to compliance of all TSX requirements by December 30, the company, which is currently listed on the... 

BHP aims to restart Olympic Dam copper facility this month

By: Reuters     10th October 2018 BHP expects a plant at its Olympic Dam mine to restart this month following repairs and the company has found a way to deliver returns from the asset as part of a focus on maxmising productivity, its head of Australian operations said on Tuesday. "The expectation remains that we'll have that... 

Coeur maintains guidance despite lower Q3 output

By: Mariaan Webb     10th October 2018 NYSE-listed miner Coeur Mining has maintained its production guidance for the year, despite reporting lower third-quarter production results, at 8.5-million ounces of silver equivalent. The company, which owns mines in Mexico, the US and Canada, produced 2.9-million ounces of silver, 88 833 oz... 

Coeur maintains guidance despite lower Q3 output
Palmajero in Mexico

Platreef Shaft 1 intersects Flatreef deposit at 780 m below surface

By: Creamer Media Reporter      10th October 2018 Shaft 1 at Ivanplats’ Platreef project has reached the top of the high-grade Flatreef deposit at 780.2 m below surface. This is the first time that the Platreef – a strongly mineralised, polymetallic belt that extends northward from the town of Mokopane for more than 30 km – has been intercepted... 

Platreef Shaft 1 intersects Flatreef deposit at 780 m below surface

Shell to drill 250 new wells at Queensland venture

By: Esmarie Iannucci     10th October 2018 Energy major Shell has announced plans to produce more gas from its QGC joint venture, in the Western Downs region of Queensland. Under the Goog-a-binge project, Shell will progressively drill 250 new wells during 2019 and 2020, which will connect the existing QGC gas processing plants and bring... 

Shell to drill 250 new wells at Queensland venture

Universal forecasts higher outputs

By: Esmarie Iannucci     10th October 2018 South Africa-focused coal miner Universal Coal has forecast a 29% increase in the 2019 earnings before interest, tax, depreciation and amortization (Ebitda), on the back of a 28% increase in sales tonnage and based on the current international coal pricing and foreign exchange forecasts. Ebitda... 

ERA reports 36% increase in production

By: Esmarie Iannucci     10th October 2018 Uranium miner Energy Resources of Australia (ERA) has reported a 36% increase in production during the three months to September, with production reaching 544 t of uranium oxide, up from the 400 t produced in the June quarter. ERA said on Wednesday that the increased production resulted from... 

Venturex eyes A$169m copper/zinc mine in Pilbara

By: Esmarie Iannucci     10th October 2018 The definitive feasibility study (DFS) into the enlarged Sulphur Springs copper/zinc project, in the Pilbara, has estimated a capital requirement of A$169-million, to develop a 1.25-million-tonne-a-year operation. Based on the base-case scenario, Sulphur Springs would produce some 65 000 t/y of... 

Higher nickel prices sees Rox relook at Fishers East

By: Esmarie Iannucci     10th October 2018 An updated scoping study into the Fishers East nickel project, in Western Australia, has proved the project to be financially robust, and technically low risk, ASX-listed Rox Resources said. The updated study is based on a mining rate of 500 000 t/y, resulting in the recovery of some 7 300 t/y... 

Superior Lake restart feasible

By: Esmarie Iannucci     10th October 2018 ASX-listed Superior Lake will undertake a definitive feasibility study on its namesake project, which will be completed by mid-2019, after the restart study demonstrated that the project, in Canada, proved positive. The study estimated that some $75-million would be required to restart the... 

Poland's KGHM focused on balance sheet, not dividends

By: Reuters     10th October 2018 Polish miner KGHM, one of the world's leading copper producers, is focusing on shoring up its balance sheet rather than any early return to dividends, its new CEO said. Marcin Chludzinski, who was named CEO in June, said he will deliver an updated strategy for the company by the end of the year. 

Fertoz buys stockpiled ore in Montana

By: Esmarie Iannucci     10th October 2018 ASX-listed Fertoz has inked a marketing agreement over 100 000 t of additional phosphate ore resource close to its operations in Montana. Fertoz said on Wednesday that the stockpiled material provided sufficient supply to meet the company’s sales target of between 30 000 t and 50 000 t of... 

Codelco plans to raise $1bn in 2019

By: Reuters     10th October 2018 Chile's State-owned miner Codelco, the world's largest copper producer, plans to raise up to $1-billion next year to help finance the overhaul of its existing mines, chairperson Juan Benavides said on Tuesday. Benavides also said the company was looking at exploration projects in Brazil, Ecuador... 

Indian State miners to form JV for power projects

By: Ajoy K Das     10th October 2018 Two of India’s largest State-run miners, Coal India Limited (CIL) and NLC Limited (formerly Neyveli Lignite Corporation Limited), have announced a joint venture (JV) to combine their respective strengths to implement thermal and renewable energy projects. According to mandatory filing with the... 

Govt urged to include IRP adjustment that steers renewables jobs the way of coal regions 

By: Creamer Media Reporter      10th October 2018 South Africa should consider including a policy adjustment in its upcoming Integrated Resource Plan (IRP) directing developers of new renewable-energy infrastructure to build projects in regions currently geared towards coal mining and coal-fired electricity production. University of Johannesburg... 

Govt urged to include IRP adjustment that steers renewables jobs the way of coal regions
Photo by Creamer Media
Dr Tobias Bischof-Niemz

Tribunal to consider Sibanye, Lonmin merger at Oct 18 hearing

By: Tasneem Bulbulia     9th October 2018 The Competition Tribunal will hold hearings into the proposed merger between Sibanye-Stillwater and Lonmin on October 18 and 19. Precious metals miner Sibanye in December made an all-share offer to acquire platinum group metals producer Lonmin, with the offer valuing Lonmin at about R5.15-billion. 

Tribunal to consider Sibanye, Lonmin merger at Oct 18 hearing
Lonmin CEO Ben Magara

China aluminium exports to surge on trade war - CRU

By: Reuters     9th October 2018 Chinese aluminium exports are expected to surge in coming months and next year after Beijing boosted tax rebates as part of a package to soften the impact of a trade war with the United States, according to industry consultancy CRU. High Chinese exports of metals such as aluminium and steel in... 

Edenville secures its largest coal order yet

By: Tasneem Bulbulia     9th October 2018 Edenville Energy has signed a “significant” two-year contract with an industrial group operating in East Africa for the supply of a specialised coal product. The contract is for the supply of 3 500 t a month of coal, with an option for the customer to increase this to up to 6 000 t a month. 

ERG bets on cobalt from Congo in quest for growth

By: Reuters     9th October 2018 Eurasian Resources Group (ERG) plans to ramp up cobalt output at its Democratic Republic of Congo (DRC) facility as it expects the electric car industry to boost demand for the metal, ERG CE Benedikt Sobotka told Reuters. ERG, a global mining and metals group with Kazakh roots, aims to raise... 

Company Post

more

Latest News

more

Latest Videos

more

Company Announcements

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close