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Mining News

Australian Potash raises cash for Lake Wells studies

By: Esmarie Iannucci     11th February 2019 ASX-listed Australian Potash will raise up to A$5.2-million through a renounceable rights issue to complete a definitive feasibility study on the Lake Wells potash project, in Western Australia. The company on Monday said that it would offer three rights shares for every 14 shares held, at an... 

White Cliffs looks at options for WA projects

By: Esmarie Iannucci     11th February 2019 Junior explorer White Cliff Minerals is looking to monetize its non-core Western Australian assets, following a strategic review. The company told shareholders that it has started discussions with various partners regarding its non-core assets, with options at the assets ranging from joint... 

Northern Graphite plans increased production rate at Ontario project

By: Creamer Media Reporter      11th February 2019 The Bisset Creek graphite project, in Ontario, could yield at least 20% more production for a relatively modest 6% increase in capital costs, owner Northern Graphite said on Friday, citing an ongoing review of the project by G Mining Services. The TSX-V-listed company said that higher production... 

Red River tips start at Far West

By: Esmarie Iannucci     11th February 2019 Base metals miner Red River Resources is expecting to produce its first production ore from the Far West underground mine, in Queensland, by the third quarter of this year. To date, some 3 500 t of high-grade development ore has been delivered to the run-of-mine pad at the Thalanga operations,... 

Laneway gets a mining lease

By: Esmarie Iannucci     11th February 2019 Gold developer Laneway Resources has been granted a mining lease for its Agate Creek project, by the Queensland Department of Natural Resources, Mines and Energy. The start date of the mining lease is March 1, 2019, and Laneway is required to make rental payments and lodge financial assurances... 

Miners rally around flood victims

By: Esmarie Iannucci     11th February 2019 Mining major BHP has donated A$250 000 to the Australian Red Cross to assist victims of the floods in Queensland, bringing the resources sector’s donation to the cause to nearly A$3-million. More than 1 m of rain fell over a period of nine days, causing the flooding of some 800 000 km2. 

Spanish gold tempts Black Dragon

By: Esmarie Iannucci     11th February 2019 The Salave gold project, in Spain, could produce some 1.1-million ounces of gold in concentrate over a mine life of 14 years, according to the preliminary economic assessment released on Monday. ASX- and TSX-V-listed Black Dragon Gold said that the project would likely require a capital... 

Spanish gold tempts Black Dragon

Uranium market improvements not enough to warrant new supply – Cameco

By: Mariaan Webb     11th February 2019 Canada’s largest uranium miner, Cameco, has cautioned against investing in new uranium mines, saying that “even the promise” of new supply could create a headwind and put downward pressure on uranium prices. The Saskatoon-headquartered company, which last year idled its McArthur River/Key Lake... 

Uranium market improvements not enough to warrant new supply – Cameco

Codelco plans to resume Chuquicamata mine operations after rains

By: Reuters     11th February 2019 Chilean State miner Codelco said on Saturday it hoped to soon restart operations at its northern Chuquicamata copper mine a day after heavy rains forced its suspension. Codelco said operations at its smaller Ministro Hales mine restarted late on Friday after several hours' suspension and that... 

Cornerstone tells SolGold that its proposed offer will not succeed

By: Mariaan Webb     11th February 2019 TSX-V-listed Cornerstone has told its potential suitor that it will not be successful in a takeover of the company, after LSE- and TSX-listed explorer SolGold on Friday announced for the second time its intention to make an offer for Cornerstone. SolGold said on Friday that it believed all... 

Green light for Taseko’s BC copper project buy

By: Mariaan Webb     11th February 2019 The shareholders of development stage company Yellowhead Mining have approved a takeover by base metals miner Taseko Minerals, giving the larger company full ownership of the Harper Creek copper/gold/silver project, in British Columbia. The acquisition was approved by 99.98% of Yellohead’s... 

Peru's environmental watchdog reports tailings spill from Southern Copper mine

By: Reuters     11th February 2019 Peru's environmental watchdog said on Sunday it was investigating a tailings spill from a unit of Southern Copper Corp, one of the world's largest copper producers, into a river in an area that has been inundated by heavy rains. The Agency of Evaluation and Environmental Enforcement (OEFA) said... 

Cliffs upbeat about 2019 as 2018 net income hits $1.1bn

By: Mariaan Webb     8th February 2019 US iron-ore miner Cleveland-Cliffs posted net income of $1.1-billion in 2018, eclipsing the previous year’s income of $363-million, on the back of an increase in revenue. Revenue jumped to $2.3-billion, from the prior year’s $1.9-billion, while cost of goods sold and operation expenses increased... 

Learners represent South Africa at Taiwan International Science Fair

By: Simone Liedtke     8th February 2019 Pretoria-based Hoërskool Waterkloof learner Christiaan Bauman won the fourth prize in the engineering category at the 2019 Taiwan International Science Fair, which was held from January 26 to February 1. Bauman’s project, titled ‘Mine Safety – The Robotic Way’, addresses the problem of miners and... 

Learners represent South Africa at Taiwan International Science Fair
Hoërskool Waterkloof learner Christiaan Bauman

Basil Read subsidiary to sell 28% stake in Majwe JV

By: Simone Liedtke     8th February 2019 Basil Read Mining Botswana (BRMB), a wholly-owned subsidiary of Basil Read Mining, will sell its 28% interest in the Majwe Joint Venture (JV) to Thiess Botswana and Bothakgwa Burrow Botswana (BBB) for R110.5-million. Under the terms of the agreement, BRMB will sell 28 ordinary shares,... 

Semafo forecasts 68% production increase for 2019

By: Nadine James     8th February 2019 TSX-listed West Africa-focused gold miner Semafo produced 244 600 oz of gold at its Boungou and Mana mines, in Burkina Faso, in 2018 – in line with its guidance of producing 235 000 oz to 265 000 oz. The company achieved a consolidated all-in sustaining cost (AISC) of $951/oz for the year. 

Labour Court rejects Sibanye’s application to halt strike again

By: Marleny Arnoldi     8th February 2019 Sibanye-Stillwater on Friday said the Labour Court had rejected its application to stop the ongoing strike that the Association of Mineworkers and Construction Union (Amcu) started at its gold operations in November 2018, on technical legal grounds. The court stated res judicata, which means... 

Better techniques are making a big difference in drilling and blasting, says MAXAM

By: Kim Cloete     8th February 2019 Advanced technologies in mining explosives are making major inroads in the mining industry. This was highlighted by MAXAM, a global technological leader specialising in the design, development, manufacture and application of energetic solutions, at the Investing in African Mining Indaba, in Cape... 

Codelco part-suspends operations amid heavy rain

By: Reuters     8th February 2019 Chilean State miner Codelco said on Friday heavy rains had forced suspension of operations at its northern copper mines Chuquicamata and Ministro Hales. Codelco said it had sent its daytime shift of workers home as a preventative measure and would evaluate whether to cancel its night shift as well. 

Lonmin’s Q1 results show improved liquidity despite relatively poor performance  

By: Nadine James     8th February 2019 Platinum miner Lonmin on Friday released its unaudited first-quarter production results for the three months ended December 31, 2018, stating that its relatively poor operational performance had been partially redeemed by its improved liquidity. The company noted that the first quarter is... 

Lonmin’s Q1 results show improved liquidity despite relatively poor performance
Photo by Creamer Media
Ben Magara

Sasol expects higher H1 earnings, but warns of Lake Charles cost increase

By: Nadine James     8th February 2019 Chemicals and energy company Sasol expects to report earnings per share (EPS) and headline earnings per share (HEPS) of between R23.71 and R24.16 and between R22.97 and R23.68, respectively, for the six months ended December 31. This means EPS is expected to increase by between 110% and 114%... 

ArcelorMittal, Vale dam inspections trigger evacuations

By: Mariaan Webb     8th February 2019 Two Brazilian towns near iron-ore tailings dams in Minas Gerais state were evacuated on Friday as a precautionary measure while inspections of the structures were under way. Vale, which is reeling from a deadly dam wall burst last month, said that the area downstream of the Sul Superior tailings... 

ArcelorMittal, Vale dam inspections trigger evacuations
Vale CEO Fabio Schvartsman flies over the Brumadinho dam disaster area.

Katoro issues shares to settle fees, creates option for management

By: Nadine James     8th February 2019 Aim-listed Tanzania-focused gold exploration company Katoro Gold on Friday announced the issue of options to its board of directors and the company’s management, as well as the settlement of certain fees through the issue of new ordinary shares. The board has resolved to issue 14.94-million new... 

Glencore's Zambian unit suspends operations after three workers die in fire 

By: Reuters     8th February 2019 Glencore's Zambian unit Mopani Copper Mines said on Friday it had suspended operations at its Mindola north shaft after three workers were killed in a fire accident. Mopani is one the biggest mining companies in Zambia – Africa's No. 2 producer of the metal – with an output of around 100 000 t/y.... 

Shares in Russia's Rusal jump 12% on upbeat aluminium demand outlook

By: Reuters     8th February 2019 Russian aluminium giant Rusal expects demand for aluminium to grow in 2019 and sees potential for prices to rise, it said on Friday, sending its Hong Kong-listed shares up 12% to a 10-month high. Shares in Rusal, the world's largest aluminium producer outside China, hit their highest since April... 

Wallbridge reports positive results from Fenelon bulk sample

By: Creamer Media Reporter      8th February 2019 TSX-listed Wallbridge Mining reported on Thursday that it has produced and sold more than 13 300 oz of gold from the 35 000 t bulk sample under way at its Fenelon gold project, in Quebec. To date, about 25 000 t of ore with a reconciled average grade of 17.34 g/t gold containing more than 14 000... 

SolGold disappointed by Cornerstone’s quick snub

By: Mariaan Webb     8th February 2019 Australian company SolGold on Friday expressed its frustration at the rejection of its planned bid for Canadian firm Cornerstone – a company that holds 15% of the Cascabel copper/gold project in Ecuador. Cornerstone rejected the intended offer meant to consolidate SolGold’s ownership in Cascabel... 

SolGold disappointed by Cornerstone’s quick snub
SolGold CEO Nick Mather

Hidden Valley supports Harmony’s H1 production, but drags down HEPS

By: Marleny Arnoldi     8th February 2019 Leading up to the release of its interim results for the six months ended December 31, on February 12, Harmony Gold on Friday said its headline earnings per share (HEPS) would be up to 97% lower year-on-year. Harmony reported gold production for the period of 751 000 oz, which is a 34%... 

Consol marks third year of production growth at Pennsylvania mines

By: Creamer Media Reporter      8th February 2019 NYSE-listed Consol Energy’s production and sales have hit a new record in 2018, marking three consecutive years of production growth at the Pennsylvania mining complex (PAMC). Sales from PAMC increased by seven-million tons in the fourth quarter, generating revenue of $49.81/t, compared with... 

Mining Indaba 2019 highlights 

8th February 2019 The 25th Investing in African Mining Indaba took place this week. Mining Weekly editor Martin Creamer attended the indaba and unpacks the highlights. 

Mining Indaba 2019 highlights
Mining Indaba 2019 highlights

Executives should take heed of risks, survey shows

By: Kim Cloete     8th February 2019 A recent survey has revealed that company executives are not adequately identifying and preparing for risks that could have potentially catastrophic implications on business operations, employees and society. The 2018 Global Operations Risk Survey of Corporate Leaders, was raised during a panel... 

Flying iron-ore prices to boost Black Iron’s project economics

By: Mariaan Webb     8th February 2019 Canadian iron-ore developer Black Iron says high-grade iron-ore pellet product should sell at a premium for the next few years, resulting in attractive project economics for its planned Shymanivske project, in the Ukraine. A deadly dam burst in Brazil on January 25 has lit a fire under iron-ore... 

Flying iron-ore prices to boost Black Iron’s project economics

Australia's Pacific National says coal train derailed, services disrupted

By: Reuters     8th February 2019 Australian coal haulier Pacific National said on Thursday that one of its trains derailed near the Hunter Valley in New South Wales and that some services would be affected while repair work was carried out. The Hunter Valley is Australia's top thermal coal-producing region and home to... 

New Energy sells Mozambique’s Caula project to private investor

By: Esmarie Iannucci     8th February 2019 ASX-listed New Energy has struck a deal to divest of the remaining 50% interest in the Caula graphite and vanadium project, in Mozambique. New Energy has entered into a binding share sale and purchase agreement with private investment vehicle Auspicious Virtue Investment Holdings, which already... 

Era faces higher closure/rehab costs for Ranger

By: Esmarie Iannucci     8th February 2019 Uranium miner Energy Resources of Australia (Era) has completed a feasibility study for the closure of its Ranger project, in the Northern Territory. The closure and rehabilitation feasibility study has increased the rehabilitation provision from the A$526-million estimated at the end of 2017,... 

Era faces higher closure/rehab costs for Ranger

Indiana looks at Mali JV with Altus

By: Esmarie Iannucci     8th February 2019 Junior Indiana Resources has signed a nonbinding term sheet to form a joint venture (JV) with Aim- and TSX-listed Altus Strategies for exploration licences in the Mali gold belt. Under the terms of the agreement, Indiana could earn an 85% interest in the Lakanfla and Tabakarole gold projects, in... 

South32 taps new chairperson  

By: Esmarie Iannucci     8th February 2019 Diversified miner South32 has announced the election of Karen Wood as chair elect, to succeed David Crawford, effective from April 12. Crawford is expected to retire as chairperson and non-executive director of South32. 

South32 taps new chairperson
South32 chair elect Karen Wood

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