R/€ = 15.61 Change: -0.01
R/$ = 13.71 Change: -0.02
Au 1291.60 $/oz Change: 1.31
Pt 803.35 $/oz Change: 1.20

Mining News

Atrum increases Canadian resources

By: Esmarie Iannucci     8th January 2019 ASX-listed Atrum Coal has reported a 170% increase in the Joint Ore Reserves Committee- (Jorc-) compliant resource estimate at its Elan South deposit, in Alberta, Canada. The Elan South deposit is now estimated to host some 97-million tonnes of resource, up from the previous estimate of... 

Chile copper output to jump by 30% in 10 years – report

By: Reuters     8th January 2019 Chile's copper production could jump by nearly 30% over the next ten years, Chile’s state copper agency Cochilco said on Monday. Cochilco said in a report that output from Chile, the world's top producer of the red metal, could reach a record of 7.25-million tonnes as early as 2025. 

Westgold revises hedge book

By: Esmarie Iannucci     8th January 2019 ASX-listed gold miner Westgold Resources has made use of the recent strength in the Australian dollar gold price, revising its hedge book to 150 000 oz. The revised hedge book is structured as a fixed-forward delivery of 10 000 oz a month, at a price of A$1 776.10/oz, over a period of 15 months. 

Production halted at Las Lagunas

By: Esmarie Iannucci     8th January 2019 Operations at the Las Lagunas gold/silver project have been temporarily halted following the rupture of one of six Albion reactors at the plant, in the Dominican Republic. ASX-listed PanTerra Gold on Tuesday said that no injuries were sustained during the incident, with the non-toxic slurry in... 

Resolute launches review of Ravenswood

By: Esmarie Iannucci     8th January 2019 Gold miner Resolute Mining on Tuesday told shareholders that the company has not made any decision in relation to the spin-off or sale of its Ravenswood gold mine, in Queensland. Instead, the company was planning to undertake a strategic review of the asset in the first half of this year. 

Albemarle starts earthworks at WA lithium plant

By: Esmarie Iannucci     8th January 2019 US-based Albemarle has started earthworks at the Kemerton strategic industrial area, in Western Australia, after receiving all the required federal and state government environmental approvals for the planned Kemerton lithium hydroxide plant. “The site earthworks at Kemerton today are on track... 

Qld LNG exports reach new heights

By: Esmarie Iannucci     8th January 2019 Liquefied natural gas (LNG) exports through the Port of Gladstone reached a record 20.58-million tonnes in 2018, the Queensland Resources Council (QRC) has revealed, reaffirming the sector’s importance to the Queensland economy. QRC CEO Ian Macfarlane said the data released by Gladstone Ports... 

Qld LNG exports reach new heights

Osisko makes initial investment towards share buyback programme, reduces debt by $43m

By: Simone Liedtke     7th January 2019 TSX- and NYSE-listed Osisko Gold Royalties on Monday announced that it had completed an initial investment of C$9.8-million towards its normal course issuer bid (NCIB) for 849 480 shares and that it had repaid $43-million on its revolving credit facility. The share repurchases were completed as... 

NUM bemoans nonpayment of salaries to Optimum, Koornfontein employees  

By: Simone Liedtke     7th January 2019 The National Union of Mineworkers (NUM) on Monday expressed its dissatisfaction over the nonpayment of employees’ salaries at the Optimum and Koornfontein coal mines for the past two months. NUM members and other workers will be entering their third month without being paid salaries, NUM Highveld... 

Copper demand to outstrip production – Fitch

By: Tasneem Bulbulia     7th January 2019 Fitch Solutions Macro Research, a unit of Fitch Group, expects the global copper market will see a persistent undersupply over the coming years, as global consumption, driven by China’s power and infrastructure sectors and increasingly by rising electric vehicle production, continues to outpace... 

eCobalt sees potential 1 200 t/d cobalt production rate at Idaho project

By: Marleny Arnoldi     7th January 2019 TSX-listed eCobalt Solutions has identified the potential to increase the targeted production rate at its Idaho cobalt project to 1 200 t/d from the previously planned 800 t/d. The 50% increase in anticipated production within the updated mine plan should create more resilient project... 

Suncor achieves record quarterly oil-equivalent production of 831 000 bbl/d

By: Marleny Arnoldi     7th January 2019 Energy company Suncor reported total upstream production of 831 000 bbl/d of oil equivalent for the fourth quarter of 2018. This marked a quarterly production record and represented a 12% increase from the third quarter. 

Africa, South America to drive copper mine capacity growth up to 2021 – ICSG 

By: Marleny Arnoldi     7th January 2019 The International Copper Study Group (ICSG) expects copper mine capacity to grow at an average rate of 2.2% a year up to 2021. The ICSG notes in its biannual ‘Directory of Copper Mines and Plants’ that the average is derived from the lower growth of about 0.5% seen in 2018/19 as compared to... 

Africa, South America to drive copper mine capacity growth up to 2021 – ICSG

EBRD extends €25m loan to copper producer Sofia Med

By: Reuters     7th January 2019 The European Bank for Reconstruction and Development (EBRD) has extended a €25-million ($28.6-million) loan to Bulgarian copper producer Sofia Med, unit of Greek Elvalhalcor, the bank said on Monday. Several banks are extending parallel financing as part of a €85-million long-term joint financing... 

Chilean lithium exports continue rise, to $949m in 2018 – central bank

By: Reuters     7th January 2019 Chile’s exports of lithium carbonate reached $949-million in 2018 compared to $686-million the previous year as demand and prices for the key component in electric vehicle batteries continues to rise, the central bank said on Monday. The value of exports of the metal from Chile reached... 

Chilean lithium exports continue rise, to $949m in 2018 – central bank

Carmeltazite recognised as a new and rare mineral

By: Tasneem Bulbulia     7th January 2019 Middle Eastern precious stone exploration company Shefa Yamim on Monday announced that carmeltazite, a mineral found in one of its gemstones, the carmel sapphire, has been recognised and approved as a new mineral by the International Mineralogical Association (IMA) Commission on New Minerals,... 

Congolese mining company leaves ITSCI certification scheme over cost

By: Reuters     7th January 2019 Congo's biggest miner of coltan, an ore that is the source of metals used in mobile phones, says it is leaving the ITSCI certification scheme, relied on by major companies as a guarantee that minerals are free from human rights abuses. Societe Miniere de Bisunzu (SMB), has given 30 days notice to... 

Kibo to focus on technical works, PPAs for its projects during 2019

By: Marleny Arnoldi     7th January 2019 With 580-million Africans still reliant on inefficient, unreliable and expensive energy sources, if any, Aim- and JSE-listed Kibo Energy will, this year, remain focused on the market opportunity this represents. This year will see Kibo fast-track the remaining technical work to complete an... 

Rambler voluntarily delisting from TSX-V

By: Simone Liedtke     7th January 2019 Rambler Metals and Mining has applied for a voluntary delisting of the company’s ordinary shares from the TSX-V. Its shares, which are currently listed for trading on the TSX-V and Aim, will continue to trade on Aim where the vast majority of trading activity takes place, the company said on Monday. 

Mosaic secures last remaining permit for Ona phosphate mine

By: Simone Liedtke     7th January 2019 NYSE-listed Mosaic Company has acquired the US Army Corps of Engineers 404 permit for its Ona phosphate mine project, in Hardee County, in Florida. The 404 permit was the final remaining permit for the project and secured 160.2-million tonnes of phosphate rock for future mining, the phosphate and... 

Leagold expects increased production, cash flow in 2019

By: Marleny Arnoldi     7th January 2019 TSX-listed Leagold Mining Corporation produced 302 550 oz of gold in 2018, in line with guidance of between 295 000 oz to 305 000 oz of gold. It operates four gold mines in Mexico and Brazil.  

Resolute ups output in Dec quarter

By: Esmarie Iannucci     7th January 2019 Gold miner Resolute Mining has reported a near 20 000 oz increase in gold production during the December quarter, compared with the previous quarter. The miner on Monday reported that gold production in the three months to December reached 73 691 oz, up 18 183 oz on the September quarter... 

Resolute ups output in Dec quarter

Black Rock inks another offtake, considers upsizing project

By: Esmarie Iannucci     7th January 2019 Graphite developer Black Rock Mining has signed its third offtake agreement over its Mahenge graphite project, in Tanzania. Under the agreement with trading house Taihe Soar Supply Chain Management, Black Rock will supply up to up to 100 000 t/y of graphite concentrate over a three year period. 

Pantoro reports 33% rise in gold production

By: Esmarie Iannucci     7th January 2019 ASX-listed Pantoro has reported a 33% increase in gold production during the December quarter, up from the previous quarter. The miner on Monday reported that gold production in December reached 12 657 oz, up from the 9 524 oz produced in the September quarter, as mining operations returned to... 

Mayur finds funding for Orokolo Bay

By: Esmarie Iannucci     7th January 2019 ASX-listed Mayur Resources has secured up to $25-million in funding from China Titanium Resources Holdings to develop its Orokolo Bay industrial mineral sands project, in the Gulf of Papua. In exchange for the funding, China Titanium Resources will be given a 49% stake in Mayur subsidiary MR... 

Dampier Gold adds exploration acreage in WA

By: Esmarie Iannucci     7th January 2019 Junior Dampier Gold has acquired an 80% interest in two exploration licences in the Kalgoorlie gold mining district. The company on Monday told shareholders that the acquisition comprised the Menzies exploration licence, which is adjacent to the company’s own Menzies gold camp, and the Goongarrie... 

Zambia Vedanta unit halts operations at underground mine on tax concerns

By: Reuters     6th January 2019 Zambia's Konkola Copper Mines (KCM), majority owned by Vedanta Resources, suspended operations at its Nchanga mine following the introduction of an import duty on copper concentrates, the company said. Zambia, Africa's No.2 copper producer, introduced new mining duties, increased royalties and... 

At least 30 gold miners killed in tunnel collapse in northern Afghanistan

By: Reuters     6th January 2019 At least 30 Afghans were killed on Sunday when the tunnel they were digging in to mine gold in northern Afghanistan collapsed, officials said. Officials said the victims were villagers who were mining for gold illegally, rather than in a government project. 

Miners warn of Green's coal ban Bill

By: Esmarie Iannucci     4th January 2019 The resources sector has warned of the detrimental effects a Bill to ban thermal coal mining in the Galilee Basin, in Queensland, would have on the economy. The Galilee Basin (Coal Prohibition Bill) has been introduced by the Greens into the Federal Senate, and if made into law, will see the... 

Zambia says mines have failed to show impact of higher taxes

By: Reuters     4th January 2019 Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday. The country, Africa's second-largest copper producer, increased its sliding scale... 

India's top court says "every second counts" for miners trapped for 3 weeks

By: Reuters     4th January 2019 ndia's Supreme Court on Thursday ordered the government to list the steps it plans for the rescue of at least 15 miners trapped in a so-called "rat-hole" coal mine for three weeks in a remote hilly state, warning that "every second counts". The workers were ensnared on December 13 when the... 

Detour Gold names Paulson-backed Bill Williams as interim CEO

By: Reuters     4th January 2019 Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim CEO, replacing Michael Kenyon. The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson's hedge fund, which pushed for a complete overhaul of... 

Petrobras to focus on core business, spat with govt to be resolved soon -officials

By: Reuters     4th January 2019 Brazilian officials on Thursday predicted a quick resolution to a dispute with Petroleo Brasileiro SA over offshore oil blocks and doubled down on pledges to steer the state-run firm toward its core businesses like oil exploration. At the swearing-in ceremony for new CEO Roberto Castello Branco,... 

Anglo American makes executive changes in base metals unit and Brazil

By: African News Agency      3rd January 2019 Global mining group Anglo American on Thursday announced a number of senior management changes following the decision to divide the management of its global base metals business from its strategy and business development activities.  The group said that Ruben Fernandes, currently chief executive... 

Anglo American makes executive changes in base metals unit and Brazil

Strandline appoints Fungoni financier

By: Esmarie Iannucci     3rd January 2019 Mineral sands developer Strandline Resources has selected African mining financier Nedbank CIB as the lead arranger and underwriter for a $26-million project finance facility for its Fungoni project, in Tanzania. The facility will account for the majority of the $32-million required to develop... 

Pilbara ticks funding boxes, looks at further expansions

By: Esmarie Iannucci     3rd January 2019 Lithium producer Pilbara Minerals on Thursday revealed the details of a proposed funding package providing the balance of the funding required to expand its Pilgangoora operation from two-million tonnes a year to five-million tonnes a year. The funding package is underpinned by two of Pilbara’s... 

Pilbara ticks funding boxes, looks at further expansions
Photo by Bloomberg
Pilbara MD & CEO Ken Brinsden

Sconi offtake still on the cards - Australian Mines

By: Esmarie Iannucci     3rd January 2019 ASX-listed Australian Mines was hoping to finalise and execute a binding offtake agreement with SK Innovation during the current quarter. The company on Thursday moved to allay shareholder concerns regarding media speculation around the binding offtake agreement, which was initially launched in... 

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