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Mining News

Permitting advances at Black Butte

By: Esmarie Swanepoel     15th August 2017 The Montana State Authority has issued ASX-listed Sandfire Resources’ Black Butte copper project, with a draft mine operating permit (MOP), allowing the company to advance the project. The draft MOP is expected within the next 30 days, and marked the culmination of an extensive process... 

Alrosa says can't reach an area of 4 missing miners

By: Reuters     15th August 2017 Rescuers have been unable to reach the area of an underground mine in Siberia where four of eight missing miners might have been working during a partial flood this month, Russian diamond producer Alrosa said on Tuesday. State-controlled Alrosa has been searching for the eight missing miners... 

Katanga to restate certain historic results 

By: Henry Lazenby     15th August 2017 Canadian copper/cobalt producer Katanga Mining said on Monday it would restate some past financial statements to correct inaccuracies in its recorded amount of copper production during 2015 and 2014. The company's independent directors are conducting an ongoing review in cooperation with... 

Vale works to speed up listing in strictest Brazil market

By: Reuters     15th August 2017 Bigger-than-expected shareholder backing for Vale's stock conversion plan could lead the world's No 1 iron-ore producer to speed up the listing of common shares in Brazil's strictest market to lure a broader investor base. CEO Fabio Schvartsman told investors in a Monday conference call that the... 

Colombia's Grupo Argos sells port company to Goldman for $136m

By: Reuters     15th August 2017 Colombian holding company Grupo Argos has sold its 50% stake in a port operator to an investment fund administered by Goldman Sachs for about $136-million, Grupo Argos said in a statement on Monday. Compania de Puertos Asociados, called Compas, moves principally coal and cement through its ports... 

Mitsui to book $810m after-tax profit in Q2 on Vale's stock conversion plan

By: Reuters     15th August 2017 Japanese trading firm Mitsui & Co said on Tuesday it would book an after-tax profit of about $810-million in the July-September second quarter on Brazil's Vale's stock conversion plan. Mitsui said the profit was not included in its profit forecast for the year to March 2018 and it would revise... 

Atlatsa management subject to cease trade order on late Q2 results filing

By: Henry Lazenby     15th August 2017 The British Columbia Securities Commission will on Tuesday issue the management of Johannesburg-headquartered miner Atlatsa Resources with a cease trade order, rather than an issuer cease trade order, owing to the company’s inability to file its second-quarter financial and operational results.... 

TMAC again lowers guidance as mill ramp-up slows

By: Henry Lazenby     15th August 2017 Emerging gold producer TMAC Resources expects to produce even fewer ounces this year at its Dorris mine, in Canada’s Nunavut Territory, as a slower-than-expected ramp-up of the plant impacted on the operation’s most recent quarterly performance. TMAC poured first gold at Dorris – part of the Hope... 

Industry outlines major policy issues as Canada’s minerals ministers meet

By: Henry Lazenby     15th August 2017 The Canadian mineral and mining industry on Monday outlined six important policy areas it would like to see addressed during the seventy-fourth annual conference of federal and provincial ministers of energy and mining in Saint Andrews, New Brunswick, this week. A national coalition of mining... 

Industry outlines major policy issues as Canada’s minerals ministers meet

Impairment, silicosis claims provision lowers Harmony’s FY earnings a share

By: Creamer Media Reporter      14th August 2017 A R1.7-billion impairment recorded following the annual life-of-mine planning process and the provision of R917-million for a possible silicosis class action settlement will result in Harmony Gold’s earnings a share for the 2017 financial year being lower than that of the previous year. Earnings... 

Impairment, silicosis claims provision lowers Harmony’s FY earnings a share

Community organisation to march to DMR’s offices

By: Anine Kilian     14th August 2017 Civil society organisation, the Mining Affected Communities United in Action (Macua), will march to the offices of the Department of Mineral Resources (DMR) on Tuesday to hand over a memorandum of demands, including that the Mineral and Petroleum Resources Development Act (MPRDA) be scrapped. It... 

Connemara appoints new CEO

By: Samantha Herbst     14th August 2017 Aim-listed Irish exploration company Connemara Mining has appointed Patrick Cullen its new CEO, effective from Monday.   Cullen boasts over 20 years of experience in the mining and exploration sector, most recently as a director of UK-based mining and metals company Kodal Norway. He was also... 

Strong financials keep Polyus on track to meet production guidance

By: Samantha Herbst     14th August 2017 Following positive operational and financial progress during the first half of 2017, London- and Moscow-listed Polyus remains on track to meet its full-year production guidance of between 2.08-million ounces and 2.13-million ounces. 

Strong financials keep Polyus on track to meet production guidance
Polyus CEO Pavel Grachev

Major setback for Lily mineworkers after another takeover deal fails

By: Natasha Odendaal     14th August 2017 Trade union Solidarity on Monday said the cancellation of another proposed buyout of the troubled Lily and Barbrook mines was a major setback that reinstilled further uncertainty for the mines’ workers and the surrounding communities. TSX-listed Galane Gold and Lily mine owners Vantage Goldfields... 

Savannah kicks off Mutamba pilot plant construction

By: Natasha Odendaal     14th August 2017 Construction has started on the 20 t/h pilot plant for a bulk metallurgical testwork programme at Aim-listed Savannah Resources’ Mutamba project, in Mozambique. Mineral sands engineering company Anubis Mocambique Limitada (AML) has been appointed to undertake the work, with the pilot plant set to... 

Caledonia’s Blanket mine on track to deliver 80 000 oz/y by 2021

By: Anine Kilian     14th August 2017 Gold miner Caledonia Mining is confident its Blanket mine, in Zimbabwe, will meet its full year production guidance of 52 000 oz to 57 000 oz, as well as the longer-term output target of 80 000 oz by 2021. The mine produced just over 25 000 oz of gold in the first half of this year, at an all-in... 

Caledonia’s Blanket mine on track to deliver 80 000 oz/y by 2021

Highveld to pursue safeguard protection on heavy structural steel products 

By: Terence Creamer     14th August 2017 Highveld Steel, which recently reopened its heavy structural mill in Mpumalanga despite still being in business rescue, has welcomed the institution of 10% import-duty protection on certain heavy steel sections and shapes. However, CEO Johan Burger tells Engineering News Online that Highveld... 

Highveld to pursue safeguard protection on heavy structural steel products
Photo by Duane Daws
Highveld's recently reopened structural mill

Eastplats narrows H1 losses

By: Natasha Odendaal     14th August 2017 TSX- and JSE-listed Eastern Platinum (Eastplats) has narrowed its losses for the first half of this year. For the six months to June 30, Eastplats posted a net loss of $4.7-million, at a loss of $0.04 a share, a significant improvement on the net loss of $30.5-million and a loss of $0.29 apiece... 

European Lithium exploring several options for Wolfsberg offtake

By: Mariaan Webb     14th August 2017 ASX-listed European Lithium and Chinese lithium firm Shandong RuiFu Lithium have agreed to extend the timeframe for entering into a formal offtake agreement for spodumene concentrate production from the Wolfsberg project, in Austria. European Lithium chairperson Tony Sage said on Monday that... 

Anglo Asian says Ugur resource exceeds initial estimate

By: Mariaan Webb     14th August 2017 Gold, copper and silver miner Anglo Asian on Monday announced a Joint Ore Reserve Committee- (Jorc-) compliant resource estimate for its Ugur gold deposit, where production is set to start next month. Ugur – a new mineral deposit 3 km west of the Gedabek licence in western Azerbaijan – has a... 

Cornish Lithium project secures £1m for exploration

By: Reuters     14th August 2017 British mining company Cornish Lithium has secured £1-million to explore for lithium in Cornwall, southwest England, its CEO said, taking the country a step closer to a domestic source of the strategic mineral. Lithium plays an essential role in electric car batteries, and is produced by... 

Cornish Lithium project secures £1m for exploration

Stellar extends exclusivity period for due diligence of Guinea assets

By: Natasha Odendaal     14th August 2017 Aim-listed Stellar Diamonds has extended the exclusivity period with financial corporation BDG Capital to August 31 for the conclusion of the due diligence process for the disposal of Stellar’s Guinea assets. In June, the West Africa-focused diamond company entered into a conditional binding term... 

Alrosa says 2017 output target unchanged despite accident - Ifax

By: Reuters     14th August 2017 Russian state-controlled diamond miner Alrosa's 2017 production plans remain unchanged despite an accident at its Mir underground mine in eastern Siberia, it said on Monday. Rescue teams are still searching for eight workers in Alrosa's underground Mir mine in the remote Yakutia region of... 

India to import 25t gold from South Korea, avoiding duty - industry officials

By: Reuters     14th August 2017 Indian traders are likely to import 25 tonnes of gold from South Korea in July and August, taking advantage of a recent tax change that allows importers to ship in gold without paying a 10% customs duty, industry officials told Reuters. The cheap imports are putting pressure on local refiners... 

Queensland’s ‘game changer’ exploration grant welcomed

By: Esmarie Swanepoel     14th August 2017 The Queensland government has opened its coffers for explorers looking for mineral discoveries in the North West region of the state. Natural Resources and Mines Minister Dr Anthony Lynham said on Monday that explorers wanting to work in the North West minerals province had until September 29 to... 

Higher prices lift Newcrest revenue as FY gold output dips

By: Esmarie Swanepoel     14th August 2017 Gold miner Newcrest Mining on Monday reported a 6% increase in revenue for the 2017 financial year, despite slightly lower gold production. Revenue for the 12 months to June 30 increased from A$3.2-million to A$3.4-million, as the company benefited from an 8% higher realised gold price and a 10%... 

Santos to redirect gas to Pelican Point power station

By: Esmarie Swanepoel     14th August 2017 Oil and gas producer Santos reported on Monday that it had signed an agreement to redirect gas to the Pelican Point power station, to support South Australia’s energy needs. Starting in January next year, Santos will supply 15 PJ of electricity to the power station, through a mix of gas from the... 

Santos to redirect gas to Pelican Point power station

Spitfire and Aphrodite to merge

By: Esmarie Swanepoel     14th August 2017 ASX-listed juniors Aphrodite Gold and Spitfire Materials on Monday announced a merger to create a diversified Australian gold development company with a combined resource of some 1.3-million ounces. Under the terms of the agreement, Spitfire has agreed to acquire all of the outstanding capital... 

Dateline raises cash

By: Esmarie Swanepoel     14th August 2017 ASX-listed Dateline Resources has raised some A$2.1-million through a non-renounceable rights issue. The junior in July this year launched the one-for-two non-renounceable rights issue, priced at 2c a share, with the aim of raising up to A$4-million to fund working capital, and the pursuit of... 

Australian Potash raises A$5m for Lake Wells

By: Esmarie Swanepoel     14th August 2017 Potash developer Australian Potash will raise A$5-million to advance work on its Lake Wells sulphate of potash (SOP) project, in Western Australia. The company on Monday said that a bookbuild had been completed for the placement of some30-million shares, at 10c each, to sophisticated and... 

Woodlawn equipment orders placed - Heron

By: Esmarie Swanepoel     14th August 2017 Dual-listed Heron Resources has advanced the development of its Woodlawn zinc/copper project, in New South Wales, placing initial orders for a number of long-lead, critical path equipment. The ASX- and TSX-listed company on Monday said that it had procured a $4.4-million fine grinding mill,... 

EZA takes up Challa offer

By: Esmarie Swanepoel     14th August 2017 Mining hopeful EZA Corporation has exercised its rights over the Challa gold and base metals project, in Western Australia, following a due diligence exercise. The company last month secured an exclusive right over the Challa project, which covers some 1 750 km2. 

Ghana's gold, diamond output to drop as govt curbs small-scale mining

By: Reuters     14th August 2017 Ghana's gold output is likely to drop sharply in 2017 because of curbs on the small-scale mining that lifted production last year but was causing damage to the environment, a government official said on Saturday. Total gold output from Africa's second largest producer was 4.1-million ounces in... 

Congo reinstates VAT on imports for mining companies

By: Reuters     14th August 2017 Congo has reinstated a value added tax (VAT) on mining company imports, the chamber of mines said on Saturday, part of what miners say is a deteriorating business climate in the country. Democratic Republic of Congo's government agreed to suspend the tax in July 2016 to help companies during a... 

Zambia's CEC confirms reduced power supply to Glencore's copper miner

By: Reuters     14th August 2017 Copperbelt Energy Corp (CEC), Zambia's main supplier of power for its mines, confirmed on Sunday that it has restricted the amount of electricity it supplies to Glencore unit Mopani Copper Mines (MCM) because of a dispute over tariffs. Mopani said on Saturday that it has suspended operations in... 

Zambia's CEC confirms reduced power supply to Glencore's copper miner

Trevali lowers guidance as Santander water ingress delays development

By: Henry Lazenby     12th August 2017 Pure-play zinc producer Trevali Mining expects to produce less metal from the Peru-based Santander mine this year, after extreme rainfall during the recent mountain wet season delayed high-grade stope development by a quarter. The company announced on Thursday that the excessive rainfall during... 

Trevali lowers guidance as Santander water ingress delays development

Canada's MGX Minerals sets out to lead way from oil to petrolithium

By: Reuters     12th August 2017 A small Canadian miner has set out to lead the way into petrolithium production, combining oil for conventional vehicles with lithium for electric vehicles (EV) produced from oilfield waste water. Shares in MGX Minerals have doubled this year as investors seek exposure to the predicted electric... 

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