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Mining News

Randgold/Barrick merger giving gold mining investment new attraction 

By: Martin Creamer     6th November 2018 During gold mining’s years of prosperity, the industry was able to harvest and feed off itself. But in recent years, it has lost $100-billion worth of value, with increasing revenue streams being consumed by lower reserve grade. 

West Bengal seeks commercial mining permission for Asia’s largest coal block

By: Ajoy K Das     6th November 2018 Although the opening up of India’s coal sector has been put on the slow track, the West Bengal government is nonetheless seeking the federal government’s approval for commercial mining from a coal block allocated to it – the largest single site reserve in Asia. The West Bengal government was... 

Nordgold adjusts FY guidance on lower-than-expected Q3 output

By: Mariaan Webb     6th November 2018 UK-based Nordgold has lowered its production guidance for 2018, after third-quarter output fell short of management expectations, following a rockslide at the Russia-based Berezitovy mine. The company, which operates four mines in Russia, three in Burkina Faso and one each in Guinea and... 

Edenville secures up to $2.75m loan

By: Creamer Media Reporter      6th November 2018 Aim-listed Edenville Energy has entered into a conditional $2.75-million convertible funding agreement with an entity managed by Lind Partners. Edenville, which is developing the Rukwa coal project in south-west Tanzania, will use the funds for working capital and expansion purposes. 

Beowulf steps into new geography with Kosovo investment

By: Mariaan Webb     6th November 2018 Nordic-focused exploration company Beowulf Mining announced a £250 000 investment in private explorer Vardar Minerals to acquire a 14% stake, sending the London-listed miner’s stock up nearly 7%. The company has an option to make a further investment and increase its ownership in Vardar, which... 

Beowulf steps into new geography with Kosovo investment
The Mitrovica licence area in northern Kosovo.

Kefi's Ethiopian exploration tenements to be expanded

By: Creamer Media Reporter      6th November 2018 Aim-listed Kefi Minerals' Ethiopian exploration tenements will be expanded to about 1 900 square kilometres to encompass the wider Tulu Kapi gold project district surrounding the 7 square kilometres mining licence area already held by subsidiary Tulu Kapi Gold Mines Share Company (TKGM). "The... 

AfriTin starts Phase 1 of drilling programme at flagship Uis mine

By: Simone Liedtke     6th November 2018 Aim-listed AfriTin Mining has started Phase 1 of the validation and drilling programme at its flagship asset, the Uis tin mine, in Namibia. Confirmatory drilling began on October 26, and is expected to continue until the first quarter of 2019. The planned programme is expected to comprise 3 950... 

Moab Khotsong, Hidden Valley lift Harmony’s Q1 output by 30% y/y 

By: Simone Liedtke     6th November 2018 Precious metals miner Harmony Gold’s production increased by 30% to 378 510 oz of gold in its first fiscal quarter ended September 30, compared with the 290 644 oz produced in the first quarter of the prior financial year. The boost in the group’s production and cash flow generation, CEO Peter... 

Another Richmont Mines exec joins New Gold

By: Mariaan Webb     6th November 2018 Canadian intermediate producer New Gold has appointed another former executive of Richmont Mines to join its team, announcing on Monday that Robert Chausse has been made executive VP and CFO. Chausse was CFO of Richmont until the sale of the company to Alamos Gold in November 2017, prior to which... 

NexGen rises on uranium PFS results

By: Mariaan Webb     6th November 2018 Investors have rewarded British Columbia uranium developer NexGen by pushing its Toronto-listed equity up by nearly 14% on Monday, following the release of the prefeasibility study (PFS) results and a mineral resource update of the Arrow deposit in the Athabasca basin in Saskatchewan. The PFS... 

Franco-Nevada reports Q3 results

By: Creamer Media Reporter      6th November 2018 Precious metals royalty and streaming firm Franco-Nevada on Monday reported lower adjusted third-quarter net income of $54.6-million, or $0.29 a share, on relatively flat revenue of $170.6-million. The Toronto-headquartered company’s adjusted net income for the September quarter compares with... 

Barrick chairperson says miner eyes nimble future after Randgold deal 

By: Reuters     6th November 2018 If all goes according to plan, Barrick Gold will have fewer mines and workers one year after acquiring Africa-focused Randgold Resources, the Canadian miner's executive chairman said on Monday, as its investors approved the deal. Votes were 99.8% in favor of the $6.1-billion, no-premium... 

Barrick chairperson says miner eyes nimble future after Randgold deal
Photo by Bloomberg
Barrick chairperson John Thornton

Nutrien permanently closes New Brunswick facility

By: Mariaan Webb     6th November 2018 Potash major Nutrien said that it would permanently close the idled New Brunswick potash facility and that it had recorded a $1.8-billion noncash impairment in its third-quarter results, which were announced on Monday. In early 2016, when Nutrien was still known as Potash Corp of Saskatchewan... 

Nutrien permanently closes New Brunswick facility
The New Brunswick potash facility

New Hope’s enviro efforts recognised with certification of rehabilitated land

By: Esmarie Iannucci     6th November 2018 The Queensland government has certified 349 ha of progressively rehabilitated land at coal miner New Hope’s New Acland coal operations, on the Darling Downs. New Hope MD Shane Stephan said that this was recognition of the company’s ongoing commitment to the environment, and the long-term... 

New Hope’s enviro efforts recognised with certification of rehabilitated land

Peabody's Coppabella turns 20

By: Esmarie Iannucci     6th November 2018 US heavyweight Peabody Energy has marked 20 years of operation at its Coppabella coal mine, in Queensland. During 2017, some 2.9-million tonnes of coal was sold from the Coppabella mine, with $950-million of direct and indirect economic benefits reported from the mine during the same period. 

Strandline raises funds for project advancement

By: Esmarie Iannucci     6th November 2018 Mineral sands developer Strandline Resources will raise A$3-million through a share placement to institutional and sophisticated investors to fund its Fungoni project, in Tanzania, and complete a definitive feasibility study (DFS) for its Coburn project, in Western Australia. The company on... 

West African makes inroads at Sanbrado

By: Esmarie Iannucci     6th November 2018 ASX-listed West African Resources has awarded an engineering, procurement and construction management (EPCM) contract for the process plant and associated infrastructure at its Sanbrado gold project, in Burkina Faso, with first gold production still scheduled for the second half of 2020. West... 

Buxton adds to Merlin

By: Esmarie Iannucci     6th November 2018 Junior Buxton Resources has struck a deal with fellow-listed New World Cobalt to acquire its West Kimberley project, in Western Australia. The three tenements making up the West Kimberley project lie adjacent to Buxton’s own Merlin prospect, and are considered to be highly prospective for... 

Cimic wins A$100m in CHPP contracts

By: Esmarie Iannucci     6th November 2018 ASX-listed Cimic’s mineral processing company Sedgman has been awarded two contracts worth a combined A$100-million to operate and maintain coal handling and preparation plants (CHPPs). A contract with Mach Energy to operate and maintain the Mount Pleasant site, in New South Wales, is expected to... 

Transnet veteran Morwe steps in as acting CEO for next six months 

By: Terence Creamer     6th November 2018 Freight logistics group Transnet has appointed Tau Morwe as acting CEO for the six-month period from November 1, 2018, to April 30, 2019. The appointment has been approved by Public Enterprises Minister Pravin Gordhan and follows on from the State-owned company’s decision to dismiss Siyabonga... 

Transnet veteran Morwe steps in as acting CEO for next six months
Photo by Creamer Media
Tau Morwe

In Ecuador, landmark court cases challenge mining projects

By: Reuters     5th November 2018 Ecuador is facing a lawsuit this week for giving mining companies exploration rights to a protected forest in one of the country's most biodiverse regions without local consultation. Brought by the local Cotacachi government, the lawsuit requests the regional court place an injunction on all... 

In Ecuador, landmark court cases challenge mining projects

Randgold merger gets big thumbs-up from Barrick shareholders

By: Mariaan Webb     5th November 2018 The shareholders of Barrick Gold on Monday voted to approve the acquisition of Randgold Resources in a $6.1-billion deal. NYSE- and TSX-listed Barrick said that 99.8% of votes at a special meeting of shareholders were in favour of the share-for-share transaction, which would create a gold leader... 

Randgold merger gets big thumbs-up from Barrick shareholders
Barrick executive chairperson John Thornton

Copper, gold mines now likely cheaper to construct than to buy

By: Reuters     5th November 2018 The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research. Data shared with Reuters support comments from major miners,... 

After Alaska's 'Burning Man for salmon', fishermen wary of mine proposal outcome

By: Reuters     5th November 2018 As the commercial fishermen who ply salmon-rich, southwestern Alaska pack away their fishing gear for the winter, many are watching anxiously as a controversial mine proposal moves through the federal permitting process. On Tuesday, Alaskans will vote on an initiative that, if passed, would set... 

After Alaska's 'Burning Man for salmon', fishermen wary of mine proposal outcome

Anglo American recommits to sustainable development goals, sets milestones for 2020, 2030  

By: Simone Liedtke     5th November 2018 The mining industry has to address the critical challenges of safety, productivity and the way land is used, as well as how energy and water are consumed as, alongside a growing population, there is greater demand for minerals and metals. However, meeting the growing demand for the materials that... 

Anglo American recommits to sustainable development goals, sets milestones for 2020, 2030
Anglo American South Africa executive head Andile Sangqu speaks to Mining Weekly Online about the miner's Sustainable Development Goals, and what it hopes to achieve with these. Video and Editing: Nicholas Boyd

Barrick in talks with Newmont to combine Nevada gold operations – source

By: Reuters     5th November 2018 Barrick Gold, which is being formed by Barrick's $6.1-billion takeover of Randgold Resources, is in talks with Newmont Mining to combine their Nevada gold mining operations, sources told Reuters. Last month's tie-up between Barrick and Africa-focused Randgold Resources revived speculation about... 

Barrick in talks with Newmont to combine Nevada gold operations – source
Barrick's Nevada operations

European Metals begins Cinovec DFS drilling

By: Mariaan Webb     5th November 2018 Australia-headquartered European Metals has started its drilling campaign at the Cinovec lithium/tin project, in the Czech Republic, with a total of eight holes for 2 560 m to be drilled. The first hole has already been completed, European Metals reported on Monday. 

Master Drilling diversifies, expands through new JV in Italy  

By: Marleny Arnoldi     5th November 2018 JSE-listed Master Drilling has entered into a joint venture (JV) with Italian construction company Ghella, to establish a new Italy-based company called TunnelPro. TunnelPro will pursue tunnel boring projects in the smaller scope civil construction and broader mining industries, while also... 

Infinity seeks strategic partner for Spain lithium project

By: Mariaan Webb     5th November 2018 Project developer Infinity Lithium, formerly Plymouth Minerals, is scouting for a strategic partner for its lithium project in Spain, or to enter into a corporate transaction that “builds shareholder value”, MD and CEO Ryan Parkin said on Monday. In a shareholder email, he said the ASX-listed... 

Zimbabwe to announce winning bidders for mining assets in two weeks

By: Reuters     5th November 2018 Zimbabwe will announce in two weeks the successful bidders for assets owned by state-owned mining company ZMDC, including gold mines, the mines minister said on Monday, adding more companies would be put on sale at the end of November. Selling struggling State-owned companies, known locally as... 

Galantas ships first concentrate from Omagh underground

By: Creamer Media Reporter      5th November 2018 Gold mine developer and explorer Galantas Gold has sent off the first consignment of concentrate derived from underground feedstock from the Omagh gold mine, in Northern Ireland, the company announced on Monday, The shipment of 25 t was produced from underground development on the Kearney vein... 

Canadians invited to participate in De Beers' Shining Light Awards as entries open

By: Creamer Media Reporter      5th November 2018 The De Beers Group Designers Initiative is inviting jewellery designers to participate in the 2018/19 Shining Light Awards, which will, for the first time, be open to Canadian participants. The latest edition of this biannual jewellery design competition, which has existed for over 22 years in... 

Rusal appoints CEO, Q3 profit up as sanctions postponed

By: Reuters     5th November 2018 Russian aluminium giant Rusal has appointed a chief executive, it said on Monday, after reporting a 42% jump in third-quarter recurring net profit on the previous quarter as sanctions imposed by Washington were postponed. The US Treasury Department in April blacklisted billionaire Oleg Deripaska... 

Rusal appoints CEO, Q3 profit up as sanctions postponed

Jubilee's Hernic reaches 2 500 6E oz a month production milestone

By: Creamer Media Reporter      5th November 2018 Aim- and AltX-listed Jubilee Metals' Hernic Platinum project reached a new production milestone in October, producing 2 500 oz of platinum, palladium, rhodium, ruthenium, iridium and osmium, or 6E platinum-group metals (PGMs). "It is very gratifying to see our Hernic project deliver and exceed... 

BHP's runaway train damaged after 92-km run, Australia starts probe

By: Reuters     5th November 2018 A train loaded with iron ore and operated by BHP Billiton ran away without a driver for 92 km before being forcibly derailed in the early hours of Monday, the company and Australian authorities said. As a result, the world's biggest miner had suspended all Western Australian iron ore rail... 

Gold Fields obtains interdict against strike at South Deep

By: Marleny Arnoldi     5th November 2018 JSE-listed gold miner Gold Fields says members of the National Union of Mineworkers (NUM) continued with strike action at the miner’s South Deep operation, in Johannesburg, on Sunday, in reaction to planned retrenchments at the mine. This despite the fact that the company had obtained a court... 

Navarre gets more time at Tandarra

By: Esmarie Iannucci     5th November 2018 The Victorian government has granted ASX-listed Navarre Minerals a ten-year retention licence for its Tandarra gold project. The retention licence will replace the existing exploration licence and would require Navarre to spend A$3.1-million on the project area during the ten-year period. 

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