R/€ = 16.07 Change: -0.06
R/$ = 13.65 Change: -0.13
Au 1280.70 $/oz Change: -0.10
Pt 923.50 $/oz Change: 0.00

Mining News

Peru says over 20 companies interested in $2bn copper project

By: Reuters     17th October 2017 More than 20 companies have expressed an interest in bidding on the $2-billion Peruvian copper project Michiquillay in an auction due to take place on December 20, the Peruvian government said on Monday. The auction date had been pushed back from the originally scheduled November 15, state... 

Talks between SQM, Chile authorities end with no deal

By: Reuters     17th October 2017 Talks to resolve a legal dispute between Chilean authorities and Sociedad Quimica Y Minera (SQM) have ended at an impasse, leaving the fate of the company's lease of lithium reserves to a judge, the government said on Monday. Chile's state-run development agency Corfo has alleged that the... 

Leagold lifts Bermejal Underground measured, indicated resources 94%

By: Henry Lazenby     17th October 2017 Gold producer Leagold Mining has updated the compliant indicated and measured Bermejal Underground resource by 94% to 1.97-million ounces, the company reported on Monday. The measured and indicated Bermejal Underground resource, located at the company’s flagship Los Filos operation, in Mexico,... 

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates

By: Henry Lazenby     17th October 2017 Canadian alluvial diamond miner Rockwell Diamonds, which had its origins within Vancouver-based mining house Hunter Dickenson, has reported a noncash comprehensive income of C$23.2-million for the second quarter ended August 31. The result is based almost entirely on the reversal of foreign... 

Rockwell reports Q2 2018 results, excludes breakeven-but-bankrupt South African affiliates
Photo by Rockwell Diamonds
Rockwell Diamonds' Niewejaarskraal operation in better days

Four mining legends to be inducted in Canada’s Mining Hall of Fame

By: Henry Lazenby     17th October 2017 The Canadian Mining Hall of Fame (CMHF) has revealed that it will induct four mining legends to its ranks early in the new year, the organisation announced on Monday. Ross Beaty, Bob Gannicott, Terry MacGibbon and Ed Thompson will be added to the group of 177 hall of famers during a ceremony to... 

Atlatsa retreats into hibernation

By: Henry Lazenby     16th October 2017 Black economic empowered platinum group metals (PGMs) company Atlatsa Resources has confirmed that its 51%-owned Bokoni platinum mine, in South Africa, has been placed on care and maintenance on October 1, as part of an Anglo American Platinum- (Amplats-) backed restructuring agreement. The TSX-... 

AMCU calls for commission into mine safety

By: Anine Kilian     16th October 2017 In addition to regular inquiries in terms of the Mine Health and Safety Act, the Association of Mineworkers and Construction Union (AMCU) has called for a commission to be set up by the Department of Mineral Resources to determine the real causes of several mining accidents over the past few... 

Iraqi forces capture North Oil Co. from Kurdish forces; no disruption to oil production

By: Reuters     16th October 2017 Iraqi on Monday forces captured the headquarters for the North Oil Company, northwest of Kirkuk, and a nearby refinery from Kurdish forces, without fighting, an Iraqi oil official said. Iraq forces moved into the premises of Iraqi state-owned North Oil after taking the nearby K1 airbase, the... 

Shanghai rebar extends rally to one-month high, lifts iron-ore

By: Reuters     16th October 2017 Chinese rebar steel futures advanced for a third straight day to hit a one-month peak on Monday, supported by output cuts in the world's top producer as part of the government's battle against smog. The gains in steel prices lifted iron-ore, although traders were not convinced the increase in... 

Implats buys 15% stake in Waterberg project

By: Anine Kilian     16th October 2017 JSE-listed Impala Platinum (Implats) will buy a combined 15% interest in the Waterberg platinum group metals (PGMs) project from TSX- and NYSE-listed Platinum Group Metals (PTM) and the Japan Oil, Gas and Metals National Corporation (Jogmec) for $30-million. Implats has also secured an option to... 

Implats buys 15% stake in Waterberg project
Photo by Duane Daws
Implats CEO Nico Muller

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Exploration, junior culture needed to save mining – Bristow
Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Sibanye-Stillwater avoids closure of certain South African PGM business units

By: Anine Kilian     16th October 2017 The closure of Sibanye-Stillwater conventional business units has been averted. Sibanye-Stillwater previously indicated that between 200 000 oz/y and 300 000 oz/y of platinum, palladium, rhodium and gold, or 4E platinum group metals (PGMs), capacity could be cut, should some conventional shafts... 

Sibanye-Stillwater avoids closure of certain South African PGM business units
Photo by Duane Daws
Neal Froneman

Stellar agrees to sell Guinea assets for $1.25m

By: Anine Kilian     16th October 2017 West Africa-focused Stellar Diamonds and BDG Capital have agreed on a final purchase price of $1.25-million for Stellar’s Guinea assets. This follows the completion of a due diligence by BDG. 

Vast Resources reports higher output

By: Creamer Media Reporter      16th October 2017 UK-headquartered Vast Resources on Monday reported stronger operational results from its mines in Romania and Zimbabwe, with third-quarter tonnes mined, milled and copper and gold production outperforming the previous quarter. The Manaila polymetallic mine, in Romania, delivered an “exceptional... 

Prairie Mining says near deal with Chinese banks to fund Polish mine

By: Reuters     16th October 2017 London-listed Prairie Mining is in advanced talks with Chinese lenders to finance its coking coal mine project in Poland, its CEO said. Prairie, which is also listed in Australia, is developing the Jan Karski mine in south eastern Poland and bought the Debiensko mine last year with a view to... 

Avesoro expands New Liberty mining equipment fleet

By: Anine Kilian     16th October 2017 TSX-and Aim-listed Avesoro Resources’ wholly owned subsidiary Bea Mountain Mining Corporation (BMMC) has entered into equipment finance facility agreements with Mapa Insaat ve Ticaret, a related party of the company, to facilitate the purchase of heavy mining equipment for $6.1-million. The... 

Italy grants Energia exploration licence for historic Salafossa mine

By: Creamer Media Reporter      16th October 2017 ASX-listed Energia has been awarded an exploration licence covering the historic Salafossa mine area, in northern Italy near the border of Austria, the company reported on Monday. Salafossa, which was operational between 1964 and 1986, comprised a single sub-horizontal Mississippi Valley Style... 

Polymetal hikes Q3 output by 26%, confirms FY guidance

By: Mariaan Webb     16th October 2017 Russian gold and silver producer Polymetal on Monday reported a 26% increase in its third-quarter gold-equivalent production of 470 000 oz, which is in line with its production plan of 1.4-million ounces for 2017. The third-quarter output included of 370 000 oz of gold, a 38% year-on-year... 

Polymetal hikes Q3 output by 26%, confirms FY guidance
Stockpiles at the Varvara mine.

Construction resumes at Pan African Resources Elikhulu gold project

By: Reuters     16th October 2017 Construction of Pan African Resources' R1.7-billion ($128-million) project in South Africa to produce gold from mine dumps has resumed after it was halted last week because of community protests, a spokesperson said on Monday. Chief executive Cobus Loots told Reuters on Thursday that a community... 

Galaxy ups output in Sept quarter

By: Esmarie Swanepoel     16th October 2017 Lithium miner Galaxy Resources has reported a 43% increase in production at its Mt Cattlin operations, in Western Australia, in the three months to September, compared with the second quarter of 2017. The ASX-listed company on Monday reported that Mt Cattlin produced 47 075 to of lithium... 

Philippines' Duterte lifts suspension on gold miner Lepanto

By: Reuters     16th October 2017 Philippine President Rodrigo Duterte has lifted an eight-month suspension order on gold miner Lepanto Consolidated Mining Co, among more than two dozen companies ordered halted by a sacked minister who led an environmental crackdown. Lepanto, which also mines copper and silver, was among 26... 

Prominent Hill openpit closure brought forward

By: Esmarie Swanepoel     16th October 2017 Copper/gold miner Oz Minerals will bring forward the closure of its openpit operations at the Prominent Hill mine, in South Australia, from the mid-2018 to the first quarter of the year. About A$10-million will be saved through the accelerated plan, the company reported on Monday, as it released... 

Evolution reports higher output, lower costs in Sept quarter

By: Esmarie Swanepoel     16th October 2017 Gold miner Evolution Mining has reported record production and cash flow during the three months to September, as the Cowal, Ernest Henry and Mt Carlton operations continued to deliver standout performances. Gold production during the September quarter reached 220 971 oz, up from the 218 079 oz... 

Australia needs to double exploration efforts to maintain gold output

By: Esmarie Swanepoel     16th October 2017 Gold production from the world’s second-largest producer of the precious metal, Australia, is expected to halve over the next four decades, as the number of operating mines is forecast to fall sharply. A study by mining economists MinEx Consulting forecasts that Australia’s gold production will... 

Australia needs to double exploration efforts to maintain gold output

Edikan on track to meet full year guidance

By: Esmarie Swanepoel     16th October 2017 ASX- and TSX-listed gold miner Perseus Mining remains on track to meet its half-year production targets of between 110 000 oz and 125 000 oz, following a strong September quarter. The Edikan mine, in Ghana, produced 51 309 oz of gold during the three months under review, which was on par with... 

Triton finds buyers for all Ancuabe product

By: Esmarie Swanepoel     16th October 2017 Graphite developer Triton Minerals has conditionally secured offtake agreements over the full production from its planned Ancuabe project, in Mozambique. The ASX-listed company on Monday reported that it had signed an offtake, marketing and technical collaboration memorandum of understanding... 

Lynas sets records in Sept quarter

By: Esmarie Swanepoel     16th October 2017 Rare earths miner Lynas has reported record sales revenue for the three months to September, along with record production and cash flows. Lynas on Monday reported record production of 1 442 t of neodymium and praseodymium (NdPr) during the quarter, which was up 22.6% on the previous corresponding... 

Nzuri publishes feasibility study for DRC copper/cobalt project

By: Esmarie Swanepoel     16th October 2017 A feasibility study (FS) into the Stage 1 development of the Kalongwe oxide copper-cobalt project, in the Democratic Republic of Congo, has estimated that the project would require a capital investment of $53.12-million. The Stage 1 operation will comprise an openpit mine and a one-million tonne... 

US demands regional steel, aluminum in Nafta auto rules

By: Reuters     16th October 2017 The Trump administration is demanding the use of North American-made steel, aluminum, copper and plastic resins in cars and trucks sold under North American Free Trade Agreement rules, as it seeks to give US industry a boost. People briefed on the matter said US negotiators issued the proposal,... 

Development programme to equip Welkom residents with mining skills

By: News24Wire      16th October 2017 Harmony Gold says an agreement has been reached with the Matjhabeng municipality and the Unemployment Forum to implement a special community development programme that will equip residents in certain Free State communities with mining skills. Harmony Gold spokesperson Max Manoeli said the... 

Eskom must implement ‘aggressive’ cost cutting, EIUG says as it urges Nersa to reject 19.9% hike

By: Terence Creamer     14th October 2017 Eskom’s application for a 19.9% tariff hike from April 1, 2018, is unacceptable and will result in the partial or full closure of plant capacity and increase unemployment, the Energy Intensive Users Group (EIUG) states in a written submission to the National Energy Regulator of South Africa... 

Eskom must implement ‘aggressive’ cost cutting, EIUG says as it urges Nersa to reject 19.9% hike

Bunge shares jump after WSJ reports Glencore standstill agreement

By: Reuters     13th October 2017 Shares of US commodities trader Bunge surged on Friday after the Wall Street Journal reported that Glencore had a standstill agreement that temporarily prevents the Swiss company from making a hostile bid for Bunge. Bunge had rebuffed a takeover approach by Glencore in May. Speculation has... 

Argentina Lithium starts digging at Arizaro

By: Henry Lazenby     13th October 2017 Lithium explorer Argentina Lithium & Energy has initiated its first drilling and subsurface brine sampling programme at the 20 500 ha Arizaro lithium project, located on the Arizaro Salar in Salta province. The TSX-V-listed company initially plans to drill three to four holes, with depths up to... 

Zinc price spike sparks flurry of miner listings

By: Reuters     13th October 2017 A doubling in zinc prices since late 2015 and strong outlook for the commodity has fueled a flurry of zinc miner listings on the Toronto Stock Exchange as companies cash in on investor demand for producers of the metal. Brazil-based Nexa Resources, a top five global zinc producer, is seeking to... 

B2Gold beats Q3 production forecast

By: Henry Lazenby     13th October 2017 The TSX-listed stock of gold producer B2Gold rallied more than 3% on Friday morning following the company reporting better-than-expected gold output for the three months ended September 30. The Toronto-headquartered company reported consolidated gold output of 135 628 oz, including 6 340 oz of... 

Stornoway reports Q3 sales, price growth as it breaks ground in quest to solve breakage issue

By: Henry Lazenby     13th October 2017 Quebec’s sole diamond operator Stornoway Diamond Corp has reported strong third-quarter production and sales results, despite a rough market correction at the end of the quarter that served to slow the rate of increase. Earlier this week, the Longueuil, Quebec-based company reported production... 

Stornoway reports Q3 sales, price growth as it breaks ground in quest to solve breakage issue

Skeena starts underground exploration at Snip

By: Henry Lazenby     13th October 2017 Exploration and development company Skeena Resources has started underground drilling at its 100%-owned Snip gold project, located in the Golden Triangle of northwest British Columbia. The programme will comprise 9 000 m of drilling spread across 73 holes. 

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