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Mining News

Vale to use cash flow to pay dividends, reduce debt – CEO

By: Reuters     4th December 2017 Brazil's Vale, the world's top iron-ore producer, will use cash flow, which could reach $14-billion or $15-billion this year, to cut debt and pay dividends, CEO Fabio Schvartsman said on Monday. Speaking at an event in Rio de Janeiro, Schvartsman said the miner tended to generate $14-billion or... 

De Beers spearheading diamond traceability digital platform service

By: Anine Kilian     4th December 2017 Diamond giant De Beers is investing in a new digital platform service that provides a single, immutable record tracing a diamond’s individual journey through the value chain. This diamond traceability platform is underpinned by blockchain technology, which allows for a highly secure digital... 

SMB plans Guinea alumina refinery by 2022

By: Reuters     4th December 2017 A consortium of the Societe Miniere de Boke (SMB) and Singapore's Winning Shipping plans to build Guinea's first alumina refinery in a $3 billion effort to develop the West African country's bauxite industry, it said on Monday. Guinea has about a third of the world's bauxite reserves and expects... 

Red Metals, MMG Exploration ink joint venture agreement

By: Samantha Herbst     4th December 2017 ASX-listed minerals exploration company Red Metal has signed an option and joint venture (JV) agreement with MMG Exploration – a subsidiary of midtier global resources company MMG Limited – to advance the prospective Mallapunyah zinc project in the McArthur basin, in Australia’s Northern... 

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Syrah signs sales agreement with China-based battery manufacturer

By: Samantha Herbst     4th December 2017 ASX-listed graphite developer Syrah Resources has signed a binding sales agreement with China-based Zhanjiang Juxin New Energy materials for 20 000 t of natural graphite from Syrah’s Mozambique-based Balama operation, in 2018. “This contract represents another significant import of Balama... 

First doré gold poured at Polyus’ Natalka

By: Mariaan Webb     4th December 2017 Russian gold major Polyus has poured its first doré gold at the Natalka project as part of the hot commissioning process of the 10-million-tonne-a-year mill at the greenfield project in the Magadan region. The Natalka mill is expected to be fully ramped up by the end of next year, delivering... 

Alba aims to reopen Welsh gold mine

By: Mariaan Webb     4th December 2017 Aim-listed Alba Minerals has acquired a 49% interest in the Clogau gold mine, in Wales, which the company aims to bring back into production. The Clogau gold project, which comprises the mine and a number of gold targets over a 106.94 km2 area, is situated in the Dolgellau gold belt, which has... 

Atalaya board approves €80.4m expansion in Spain

By: Mariaan Webb     4th December 2017 European mining and development company Atalaya Mining on Monday announced its decision to proceed with the 15-million-tonne-a-year expansion of its Proyecto Riotinto mine, in Spain. The €80.4-million expansion would upgrade processing facilities, including the installation of a new primary... 

Atalaya board approves €80.4m expansion in Spain

Galileo starts 1 750 m drilling programme at Zambia zinc project

By: Creamer Media Reporter      4th December 2017 As part of plans to fast-track exploration at its 51%-owned Star Zinc project, in Zambia, Aim-listed Galileo Resources will this week embark on a 1 750 m drilling programme. The programme is aimed at both resource confirmation and resource expansion. 

Nersa shifts Eskom tariff decision to December 13

By: Terence Creamer     4th December 2017 The National Energy Regulator of South Africa (Nersa) confirmed on Monday that it would announce its decision on Eskom’s 2018/19 revenue application on December 13, instead of the December 7 date initially set for the determination. “The date has been changed due to more time being required to... 

Nersa shifts Eskom tariff decision to December 13

GBM scoping study shows economic viability of Mt Coolon project

By: Dylan Slater     4th December 2017 A recent scoping study conducted by junior GBM Resources for its Mt Coolon gold project has indicated that it may be economically viable to redevelop the project, which shows the potential to generate strong positive cash flow 

Fortescue appeals Aboriginal land rights case

By: Creamer Media Reporter      4th December 2017 Iron-ore miner Fortescue Metals has lodged an appeal against a Federal Court ruling in favour of an indigenous Aboriginal group’s claims over land that it uses to mine in the Pilbara. Fortescue CEO Nev Power said on Monday that the group welcomed the recognition of the Yindjibarndi native title,... 

Rio Tinto aims for 'intelligent' Australian iron-ore mine

By: Reuters     4th December 2017 Rio Tinto next year will seek board approval to develop an "intelligent" iron ore mine at a cost of $2.2-billion, fully incorporating technologies such as robotics and driverless trains and trucks on a single site, the company's head of iron-ore said on Monday. A feasibility study was underway... 

Rio Tinto aims for 'intelligent' Australian iron-ore mine
Rio Tinto Iron Ore CEO Chris Salisbury

Greenfield exploration on the rise in Australia

By: Mariaan Webb     4th December 2017 The search for new mineral deposits in Australia is starting to recover, with greenfield exploration expenditure increasing by 16.9% and exploration drilling by 23.3% in the September quarter. In original terms, total mineral exploration expenditure rose 6.8% to A$475.2-million, the Australian... 

Bowen Coking Coal buys ‘small, but strategic’ Isaac River project

By: Mariaan Webb     4th December 2017 Queensland explorer Bowen Coking Coal has acquired a “small, but strategic” project, which positions the company among several large producing mines with well-established infrastructure. The ASX-listed company announced on Monday that it had entered into an asset sale agreement with Aquila Coal... 

Change of name for BCI to reflect broader strategy

By: Mariaan Webb     4th December 2017 BCI Iron has changed its name to BCI Minerals to reflect the broadening of the company’s strategy to increase its focus on additional commodities. The ASX-listed company has expanded its focus to also include a presence in gold and base metals and has set out to be an “influential Australian... 

Canada court backs need to consult aboriginals on projects

By: Reuters     2nd December 2017 Canada's top court on Friday unanimously ruled in favour of aboriginal bands seeking a say in a Yukon territorial government effort to develop coal and iron deposits in a wilderness region, in contravention of a treaty requiring the agreement of local native groups. The ruling, by the country's... 

Banro defers December interest payment

By: Henry Lazenby     2nd December 2017 Democratic Republic of Congo- (DRC-) focused miner Banro Corp has decided to defer an interest payment of $4.94-million that was due on Friday for up to 30 days. Under the terms of the indenture governing the 10% notes due 2021, no event of default will occur if the interest payment is made... 

Bear Creek wins C$30.4m award in international arbitration against Peru

By: Henry Lazenby     2nd December 2017 A tribunal of arbitrators at the International Centre for the Settlement of Investment Disputes (ICSID) has ordered an award of c$30.4-million to Canadian project developer Bear Creek Mining. The arbitrators agreed with the TSX-V-listed company that Peru had breached its obligations to the... 

Mountain Province prices $330m senior second-lien notes to settle construction debt

By: Henry Lazenby     2nd December 2017 Diamond producer Mountain Province Diamonds has launched a $330-million debt financing to settle its Gahcho Kué project construction loan facility and to repay previously sunk expenses by the mine’s majority owner and operator De Beers Canada. The Toronto-headquartered company is offering senior... 

Reunion’s profile bolstered as Barrick sinks C$9.12m to take 15% stake

By: Henry Lazenby     1st December 2017 The TSX-V-listed equity of Canadian exploration and development company Reunion Gold jumped more than 10% on Friday after announcing that the world’s largest gold producer by output, Barrick Gold, has taken a 15% stake. NYSE- and TSX-listed Barrick has acquired 48-million Reunion shares, through... 

McEwen secures $10m in Timmins exploration funding

By: Henry Lazenby     1st December 2017 Gold producer McEwen Mining has secured a $10-million financing to support a 2018 exploration programme on its newly acquired Black Fox mine and associated assets in Ontario’s Abitibi Gold Belt. The financing comprises a $10-million bought deal of four-million flow-through common shares priced at... 

Competition Amendment Bill moves to give teeth to market inquiry instrument

By: Terence Creamer     1st December 2017 Economic Development Minister Ebrahim Patel released the Competition Amendment Bill for public comment on Friday, indicating that he expects the proposed legislation to be placed before lawmakers during the first half of 2018. The amendments, which were drafted with the assistance of an expert... 

Competition Amendment Bill moves to give teeth to market inquiry instrument
Photo by Duane Daws
Economic Development Minister Ebrahim Patel

Firestone revises mine plan amid lower diamond values

By: Natasha Odendaal     1st December 2017 Aim-listed Firestone Diamonds has made a good start to mining at the Liqhobong mine, in Lesotho, with all operational targets within management's control having either been met or exceeded after the mine development project was completed within budget. However, lower-than-expected average diamond... 

Core Exploration enters maiden offtake, prepayment agreements

By: Natasha Odendaal     1st December 2017 ASX-listed Core Exploration has entered into a binding lithium offtake agreement and a conditional $20-million prepayment agreement with China-based lithium hydroxide and carbonate producer Ya Hua International Investment and Development for the Finniss lithium project, near Darwin, in the... 

PNX appoints study manager for Hayes Creek project DFS

By: Natasha Odendaal     1st December 2017 ASX-listed PNX Metals has appointed engineering, consulting and contracting company GR Engineering Services as the study manager for the definitive feasibility study (DFS) of the Hayes Creek zinc/gold/silver project, in the Northern Territory. GR Engineering will be tasked with the process design... 

Arrow and QCLNG announce major gas deal

By: Mariaan Webb     1st December 2017 Multinational oil and gas major Shell and its joint venture (JV) partner PetroChina have approved a major gas supply deal that will bring to market Arrow Energy’s significant gas reserves in the Surat basin of Queensland. The JV partners have approved a 27-year deal between Arrow and Queensland... 

Magnis signs 25 000 t/y graphite sales deal with World Group

By: Natasha Odendaal     1st December 2017 ASX-listed Magnis Resources has entered into a three-year flake graphite sales agreement with major European group World Plastik ve Petrokimya Sanayi ve Ticaret. Magnis will supply the World Group subsidiary with 15 000 t/y of super jumbo flake graphite and 10 000 t/y of jumbo flake graphite from... 

C$1.17m raised for Northern Ireland’s Omagh mine

By: Mariaan Webb     1st December 2017 The owner of Northern Ireland’s only producing gold mine has raised about C$1.17-million (or £682 859) in a private placement, which the company plans to use to accelerate underground development. TSX-V and Aim-listed Galantas Gold closed the private placement on Thursday for 16 655 099 common... 

Demand for battery metals will drive African exploration, investment

By: Nadine James     1st December 2017 Growth in the electric vehicle (EV) market will boost demand for battery metals exponentially, driving exploration and investment in Africa. This was discussed during a live-streamed Mining Indaba panel on energy metals in which Cobalt 27 chairperson Anthony Milewski, Montero president and CEO Dr... 

Queensland’s DMRM slaps Rockland with suspension directive

By: Creamer Media Reporter      1st December 2017 Queensland copper producer CuDeco has temporarily suspended processing plant operations at its Rocklands copper mine, after an investigation by the Department of Mineral Resources and Mines (DNRM) on Thursday identified a number of safety issues. The suspension would remain in place pending... 

Battery Minerals prepares for Montepuez development

By: Natasha Odendaal     1st December 2017 ASX-listed Battery Minerals is gearing up to start the development of its Montepuez graphite project, in Mozambique, following its $20-million over-subscribed capital raising, the appointment of the lead design engineer and ordering of the primary crusher. Battery Minerals is progressing its... 

No opencut mining at Drayton South, but underground allowed

By: Mariaan Webb     1st December 2017 The New South Wales government on Friday announced that it would amend policies to ban opencut coal mining in the Hunter Valley, where a heated battle between horse stud owners and major miner Anglo American has been raging over the Drayton South coal project. The New South Wales government,... 

No opencut mining at Drayton South, but underground allowed

Renewables-heavy mix is South Africa’s cheapest option, yet another study confirms

By: Terence Creamer     1st December 2017 A new, independently produced techno-economic model of South Africa’s cost-optimal power generation mix in 2040 outlines a system where 69% of the electrical energy is produced from onshore wind and solar photovoltaic (PV) generators, supported by batteries and gas-fired generators. Conducted by... 

Renewables-heavy mix is South Africa’s cheapest option, yet another study confirms

NUM reaches wage deal with Kangra Coal Mine, ends strike

By: African News Agency      1st December 2017 South Africa's National Union of Mineworkers (NUM) said on Friday it had signed a three-year wage agreement with Kangra Coal Mine, effectively ending a week-long strike. In a statement, NUM said the two parties agreed on a R600 wage increase for 2017, and 7% rises for the following two years... 

Cobalt’s dramatic demand bump gives rise to novel investment vehicle

By: Henry Lazenby     1st December 2017 Cobalt supply constraints, coupled with a never-before-seen boom in the adoption rate of electric vehicles (EV) across the globe, have conspired to create an ideal market in which a pure-play cobalt investment and participation vehicle's profits can outpace its peers. Cobalt, a critical ‘energy... 

Cobalt’s dramatic demand bump gives rise to novel investment vehicle

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