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Mining News

Zimplats, hydrogen storage and a local borehole logging system make headlines 

9th October 2018 This week, Zimplats is held as a safety benchmark, CSIR researches hydrogen storage technologies and a local borehole logging system is going global. Mining Weekly editor Martin Creamer unpacks the headlines. 

Kirkland Lake output exceeds targeted levels

By: Mariaan Webb     9th October 2018 Triple-listed Kirkland Lake Gold has exceeded its production target for the third quarter, driven by record quarterly output from the Fosterville mine, in Australia, as well as a strong contribution from its Canadian operations – Macassa, Holt and Taylor. Third-quarter production increased to... 

Kirkland Lake output exceeds targeted levels
Kirkland Lake's Macassa mine, in Canada.

Scotgold raises cash for Grampian exploration

By: Creamer Media Reporter      9th October 2018 Aim-listed Scotgold has raised £750 000 by way of a direct subscription for 2 727 274 new ordinary at 27.5p each, to fund the further exploration of licences adjacent to its Cononish mine, in Scotland. The funds were raised from nonexecutive director William Styslinger and Jane Styslinger, who... 

Brucejack Q3 gold output up 13%

By: Mariaan Webb     9th October 2018 TSX- and NYSE-listed Pretium Resources increased its gold production at the Brucejack mine, in British Columbia, by nearly 13% in the third quarter, standing the company in good stead to meet its second-half production guidance. The mine produced 92 641 oz of gold in the third quarter, which... 

MGX prepares for drilling programme at new Chile projects

By: Mariaan Webb     9th October 2018 Canadian firm MGX Minerals is set to hit the road running in Chile, announcing on Tuesday that it had made its option agreement to acquire an interest in three lithium projects definitive and that it would start a drilling programme this week. MGX, which in August announced an option to buy into... 

Kibo completes acquisition of 60% interest in MED

By: Tasneem Bulbulia     9th October 2018 Africa-focused energy company Kibo Energy has completed the acquisition of a 60% equity interest in Mast Energy Developments (MED), a private UK registered company targeting the development and operation of flexible power plants to service the reserve power generation market. MED’s business... 

Avesoro’s Q3 production in line with expectations

By: Tasneem Bulbulia     9th October 2018 West African gold producer Avesoro Resources produced 47 177 oz of gold from its New Liberty mine, in Liberia, and its Youga gold mine, in Burkina Faso, in the quarter ended September 30, bringing year-to-date gold production to 175 496 oz. Ore mining rates increased at both New Liberty and Youga... 

RioZim to sue central bank over dollar payments

By: Reuters     9th October 2018 Zimbabwe's gold miner RioZim on Tuesday said it would take legal action to force the central bank to pay it in US dollars for part of its output, signalling impatience by mining companies over acute dollar shortages afflicting the economy. The shortages have worsened since 2016 and are the... 

Kin raises more cash for Leonora

By: Esmarie Iannucci     9th October 2018 ASX-listed Kin Mining is hoping to raise a further A$10.4-million for its Leonora gold project, in Western Australia. Kin on Tuesday announced a two-for-five pro-rata non-renounceable entitlement offer priced at 8c a share. The offer price represented an 11% discount to the last trading price of... 

Hancock's offer for Atlas about to close

By: Esmarie Iannucci     9th October 2018 Hancock Prospecting’s takeover offer for iron-ore miner Atlas will close on October 12, with the suitor gaining more than a 90% interest in Atlas to date. Hancock said that the shareholding would allow the company to start the compulsory acquisition of the remaining shares in Atlas under the... 

Ardmore to cost A$77m to develop - Centrex

By: Esmarie Iannucci     9th October 2018 A definitive feasibility study (DFS) into the Ardmore phosphate rock project, in Queensland, has confirmed that the project could deliver 800 000 t/y of phosphate rock concentrate over a minimum ten-year mine life. ASX-listed Centrex Metals this week reported that the project would require a... 

Lithium-rich WA bids to host battery research centre

By: Esmarie Iannucci     9th October 2018 The Western Australian government on Tuesday confirmed that the application for the Future Battery Industries Cooperative Research Centre (FBI CRC) was one of six to be shortlisted to the next round by the Cooperative Research Centres (CRC) programme. The state government has included a... 

Las Lagunas facing steep power costs

By: Esmarie Iannucci     9th October 2018 ASX-listed PanTerra Gold has warned that operating costs at its Las Lagunas gold tailings retreatment project, in the Dominican Republic, would increase by some $200 000 a month for up to the next six months. The announcement comes after the company received advice from its contracted power... 

Genesis adds to Ulysses resource

By: Esmarie Iannucci     9th October 2018 Gold developer Genesis Minerals has reported a 137% increase in the total mineral resource at its Ulysses gold project, in Western Australia. The project is now estimated to host some 760 000 oz of gold, up from the previous estimate of 321 000 oz.  

Technology cost assumptions used to produce IRP explained 

By: Terence Creamer     9th October 2018 An experienced electricity system modeller has corrected a suggestion that the draft 2018 Integrated Resource Plan (IRP 2018) uses levelised cost assumptions for the various generation technologies tested, explaining that overnight capital cost assumptions for each technology are key inputs. The... 

Technology cost assumptions used to produce IRP explained

UMMC mining firm draws first €100m syndicated loan

By: Reuters     9th October 2018 Russia's Urals Mining and Metals Co (UMMC) said on Tuesday it had drawn a three-year €100-million syndicated loan from a group of banks to refinance loans and increase its working capital. The syndicated loan, the first drawn by UMMC, was structured in the form of pre-export financing secured... 

Clock ticking for Wolf to find money

By: Mariaan Webb     9th October 2018 The stock of specialty metals producer Wolf Minerals plunged on London’s Aim on Tuesday, as the company said that it had only two days to finalise funding negotiations, or it would fail to meet its short-term working capital requirements. Wolf, which owns a tungsten and tin mine in Devon,... 

Altura ships first lithium

By: Esmarie Iannucci     9th October 2018 Lithium miner Altura Mining has shipped its first cargo of spodumene concentrate from Port Hedland to its offtake partner in China. The company on Tuesday said that some 5 000 t of spodumene concentrate was loaded onto the vessel MV Clipper Tenacious, which was shared with two other exporters. 

Hancock and Rio Tinto open new Pilbara mine

By: Esmarie Iannucci     9th October 2018 Miners Rio Tinto and Hancock Prospecting have opened the Baby Hope mine, marking the fourth mine to be developed at the Hope Downs operation, since the miners formed their Pilbara joint venture (JV) in mid-2005. The JV partners said that the development of the Baby Hope deposit would assist in... 

Hancock and Rio Tinto open new Pilbara mine

Gold nudges up on risk aversion amid China worries

By: Reuters     9th October 2018 Gold prices edged higher on Tuesday as risk appetite fell, with Asian stocks slipping to 17-month lows amid concerns over a potential slowdown in China's economic growth. Spot gold was up 0.2% at $1 189.58/oz at 07:15 GMT. On Monday, it fell 1.2%, its biggest one-day percentage fall since August... 

Bacanora grows Germany resource, funding talks for Mexico project ongoing

By: Mariaan Webb     9th October 2018 London-listed Bacanora Lithium has grown the measured and indicated resource at its 50%-owned Zinnwald project, in southern Saxony, Germany, by 30% to 124 974 t of contained lithium. The total resource estimate for the project, including measured, indicated and inferred, is now 142 240 t of... 

Bacanora grows Germany resource, funding talks for Mexico project ongoing

Dladla steps down as CEO of Eskom Rotek Industries

By: Creamer Media Reporter      9th October 2018 Eskom Rotek Industries CEO Johnny Dladla, who served a short stint as the group's CEO in 2017, has resigned and will leave Eskom at the end of October to "pursue private business interests".   The State-owned utility said in a statement that Dladla's successor would be announced in due course.... 

Dladla steps down as CEO of Eskom Rotek Industries
Photo by Creamer Media
Johnny Dladla

Albemarle shares drop after media report on Chile lithium quota

By: Reuters     9th October 2018 Shares of Albemarle Corp fell more than 2% on Monday after a newspaper reported that Chile's nuclear regulator has refused to increase the company's lithium production quota. The report, which has yet to be confirmed by officials, would be a blow to the world's largest lithium producer's aim to... 

Chile eyes new copper markets to shield economy from trade war

By: Reuters     9th October 2018 Chile aims to find new copper markets and expand its lithium industry as it seeks to shield its economy from a US.China trade war, the mining minister of the world's biggest copper producer said on Monday. Baldo Prokurica also told Reuters the South American nation was considering further... 

Chile eyes new copper markets to shield economy from trade war

Cradle Arc subsidiary secures loan facility for Mowana processing plant

By: Tasneem Bulbulia     8th October 2018 Cradle Arc’s 60%-owned subsidiary, Leboam, the holding company of the Mowana copper mine, in Botswana, has conditionally obtained a loan facility of $2-million from Cradle Arc's largest shareholder PenMin Botswana. Proceeds from the facility will be applied to dealing with the intermittent... 

Alrosa finds 28.59ct yellow diamond

By: Creamer Media Reporter      8th October 2018 Russian diamond miner Alrosa subsidiary AlmazyAnabara has extracted a large 28.59-ct rough diamond of deep greenish-yellow hue – its largest yellow rough diamond for the year. The diamond was discovered at Ebelyakh placer deposit in July. 

Mali approves Randgold’s Morila mine to agribusiness conversion

By: Marleny Arnoldi     8th October 2018 Gold miner Randgold Resources’ Morila gold mine’s ambitious agribusiness project has been approved by the Malian government. The project is designed to replace mining with a sustainable economic activity in the local community after the operation’s closure in two years’ time. 

Mali approves Randgold’s Morila mine to agribusiness conversion
Photo by Bloomberg
Randgold Resources CE Mark Bristow

Chinese delegation to witness proudly South African logging system 

By: Martin Creamer     8th October 2018 The high-ranking delegation from China, which is due to arrive in South Africa next Monday to undertake a three-week study of South Africa’s globally recognised mineral reporting codes, will be given insight during their visit into a South African borehole logging system that is poised to go... 

Chinese delegation to witness proudly South African logging system
Samcodes Standards Committee chairperson Matt Mullins interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Kefi gets Ethiopian government go-ahead for community resettlement plan

By: Marleny Arnoldi     8th October 2018 Aim-listed Kefi Minerals has received approval from Ethiopian authorities to proceed with the resettlement of the Tulu Kapi community, surrounding the company’s Tulu Kapi mine. Preparatory activities for the resettlement will now turn to an exhaustive community communication and consultation... 

BlueRock seeks to improve Kareevlei profitability with proposed upgrades

By: Creamer Media Reporter      8th October 2018 Aim-listed BlueRock Diamonds will, subject to funding, invest in further improvements at its mining operation, plant and necessary personnel at the Kareevlei diamond mine, in the Northern Cape, to increase the capacity and efficiency of the operation. The proposed investment is expected to... 

Weatherly restarts process to review strategic options

By: Creamer Media Reporter      8th October 2018 Namibian base metals miner Weatherly International has restarted the process of reviewing its strategic options, including the possible sale of some of its subsidiaries or assets. The process will be led by Numis Securities and Treadstone Resource Partners. 

Edenville secures another offtake deal

By: Creamer Media Reporter      8th October 2018 Aim-listed Edenville Energy has signed an offtake deal to supply an industrial customer in East Africa with 300 t a month to 500 t a month of coal for two years. Edenville has been working with the customer throughout this year to create a product specifically suited to the customer's operations... 

North Mara mine drives Acacia’s increased FY guidance to more than 500 000 oz

By: Marleny Arnoldi     8th October 2018 Africa-focused gold miner Acacia Mining has increased its full-year production guidance to more than 500 000 oz, from between 435 000 oz and 475 000 oz previously, owing to strong production of 391 000 oz gold in the nine months ended September 30. Acacia interim CEO Peter Geleta stated on... 

North Mara mine drives Acacia’s increased FY guidance to more than 500 000 oz

India to auction 102 mineral blocks in next six months

By: Ajoy K Das     8th October 2018 In one of the most aggressive moves yet to monetise natural resources, India’s Mines Ministry is pushing to auction 102 mineral blocks in the next six months of current financial year. The Ministry’s new thrust to complete the auctions by March 31, 2019 can be gauged from the fact that since... 

Strongbow appoints Osisko’s Njegovan to its board

By: Creamer Media Reporter      8th October 2018 Vancouver-based Strongbow Exploration has appointed Osisko Mining VP for new business development, Don Njegovan, to its board of directors to replace John Burzynski, who stepped down on Friday. Burzynski will join the company’s technical advisory committee. 

Harmony agrees to pay R30m to settle FCSA dispute

By: Marleny Arnoldi     8th October 2018 JSE- and NYSE-listed Harmony Gold has reached a settlement with the Financial Sector Conduct Authority of South Africa (FCSA), related to the company’s financial results for the quarter ended March 31, 2007. Harmony states that the results for that quarter, at that stage unbeknownst to the... 

Tharisa on track to meet 2020 targets after record FY18 production

By: Marleny Arnoldi     8th October 2018 The financial year ended September 30 bode well for JSE- and LSE-listed platinum group metals (PGMs) and chrome miner Tharisa Minerals, with record production from its Tharisa mine, in South Africa’s Bushveld Complex, record high recovery rates and a best-in-class safety accolade. “The... 

Tharisa on track to meet 2020 targets after record FY18 production
Tharisa CEO Phoevos Pouroulis

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