http://www.engineeringnews.co.za
R/€ = 15.55 Change: 0.02
R/$ = 13.16 Change: 0.13
Au 1290.60 $/oz Change: 4.49
Pt 983.50 $/oz Change: 4.50
 

Mining News

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. 

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... 

Nevsun delays Timok schedule, provides more capital for flagship Bisha ops

By: Henry Lazenby     11th August 2017 Canadian base metals producer Nevsun Resources this week announced a strategic update on its capital allocation plans, allotting extra capital to its Eritrea-based Bisha zinc/copper/gold operation and delaying the timetable for delivery of the Serbia-based Timok prefeasibility study (PFS) to the... 

Nevsun delays Timok schedule, provides more capital for flagship Bisha ops
Photo by Nevsun Resources
Bisha mine, Eritrea

Increased mining royalties, new mining agency a boost to Brazil’s long-term outlook 

By: Henry Lazenby     11th August 2017 Increased mining royalties and a new mining agency, coupled with generally clearer and more consistent regulations, are expected to provide an overall boost to the long-term outlook of Brazil’s resources industry, according to a recent report by Fitch Group-affiliated market analyst BMI Research.... 

Increased mining royalties, new mining agency a boost to Brazil’s long-term outlook
Photo by Reuters
Devastation left in the wake of a tailings-dam burst owned by Vale and BHP Billiton in Mariana, Brazil

Outlook stable for Anglo American – S&P's

By: Anine Kilian     11th August 2017 Ratings agency Standard and Poor’s (S&P’s) has given global mining company Anglo American a stable outlook, raising its long- and short-term corporate credit ratings to BBB-/A-3 from BB+/B. The agency also raised Anglo American’s long-term South Africa national scale rating to zaAAA from zaAA+,... 

Russian tycoon Prokhorov agrees to sell 7% stake in Rusal to Vekselberg

By: Reuters     11th August 2017 Russian aluminium giant Rusal said tycoon Mikhail Prokhorov has agreed to sell around a 7% stake to billionaire Viktor Vekselberg for $503.9-million, concluding lengthy negotiations over a sale. Prokhorov, a minority shareholder in Hong Kong-listed Rusal, had been in talks to sell a 12% stake in... 

Work advancing to secure Chinese funding for large Greenland zinc project

By: Mariaan Webb     11th August 2017 Base metals developer Ironbark Zinc is continuing to work towards securing Chinese funding for a large potential zinc mine – the Citronen base metals project, in Greenland. Ironbark, which is listed in Australia, is working with China Nonferrous Metal Industry’s Foreign Engineering and... 

Polyus delivers solid H1 operational results

By: Samantha Herbst     11th August 2017 Continuing to build on its position as a low-cost gold producer with a clear growth strategy, Russia-based Polyus delivered consistent production in the half year ended June 30, achieving a 12% year-on-year increase to 938 000 oz. The company – Russia’s largest gold producer – attributed this... 

Polyus delivers solid H1 operational results

Eastplats reports mineral resource estimate for Zandfontein TSF

By: Creamer Media Reporter      11th August 2017 SRK Consulting has recommended that a prefeasibility or feasibility study be undertaken to determine if the mineral resource at the Zandfontein upper group two tailings storage facility (TSF) at Eastern Platinum’s (Eastplats’) Crocodile River Mine (CRM) can be mined economically in the current... 

Aeon raises $5.5m for Queensland project

By: Creamer Media Reporter      11th August 2017 Base metals explorer Aeon Metals on Friday said it had agreed to place 39.2-million shares at 14c each to sophisticated and institutional investors to raise A$5.5-million before costs. “The Aeon board is very happy to broaden the share register with a good mix of domestic and international... 

Adani fined for environmental breach at Abbot Point

By: Mariaan Webb     11th August 2017 Queensland’s Environment and Heritage Protection (EHP) department has fined Indian conglomerate Adani A$12 190 for an authorised stormwater release from its coal handling facility at Abbot Point during Cyclone Debbie, in March. The EHP charges that Abbot Point Bulk Coal (APB) had released... 

Eskom given 30 days to meet Nersa requirements for 2018 tariff application 

By: Terence Creamer     11th August 2017 The National Energy Regulator of South Africa (Nersa) has refused Eskom’s request to deviate from key aspects of the multiyear price determination (MYPD) methodology, as well as the minimum information requirements for a tariff application (MIRTA) and has given the utility until the end of August... 

Eskom given 30 days to meet Nersa requirements for 2018 tariff application

Exxaro to report higher interim HEPS

By: Creamer Media Reporter      11th August 2017 Diversified miner Exxaro Resources expects to report headline earnings per share (HEPS) of 795c to 925c for the six months to June 30. This compares with HEPS of 309c for the six months to June 30, 2016. 

Zinc of Ireland announces follow-up drilling at Kildare project

By: Mariaan Webb     11th August 2017 Spurred on by high-grade intercepts at the McGregor and Celtic Tiger prospects at the Kildare project, explorer Zinc of Ireland on Friday announced the start of a Phase 3 drilling programme. The first hole, 006, of the programme is focusing on the McGregor prospect, where ZMI is seeking to extend... 

Company Post

more

Latest News

more

Latest Videos

more

Company Announcements

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119 Close