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Mining News

Greatland shares in free fall on Newmont's exit from Australia project

By: Mariaan Webb     15th January 2018 Shares in Aim-listed junior Greatland Gold fell sharply on Monday, as the precious and base metals firm announced that Newmont Mining had pulled out of the Ernest Giles project, in Western Australia. Greatland said in a market announcement that Newmont would not be proceeding with the Ernest... 

Polyus says $887m deal with China’s Fosun dropped

By: Mariaan Webb     15th January 2018 Russia's Polyus said on Monday that an agreement to sell a 10% stake in the company to a consortium led by China’s Fosun International had been terminated. A condition precedent to the transaction was not met, following which the agreement to sell 12 561 686 of the ordinary shares in Polyus for... 

Polyus says $887m deal with China’s Fosun dropped

Blackham secures $14.3m loan from key mining contractor Maca

By: Natasha Odendaal     15th January 2018 ASX-listed Maca on Monday provided a secured $14.3-million loan, on commercial terms, to support the recapitalisation of Blackham Resources. The proceeds of the loan have been applied by Blackham to repay the Orion mine finance term loan, which was due to mature on December 31, and subsequently... 

Gem discovers 910 ct diamond

By: Anine Kilian     15th January 2018 LSE-listed Gem Diamonds has recovered a 910 ct, D colour Type IIa diamond from its Lesotho-based Letšeng mine. The diamond, the largest recovered from the mine, is believed to be the fifth-largest gem-quality diamond ever recovered. 

Gem discovers 910 ct diamond
Clifford Elphick

India’s draft national mineral policy proposes exploration incentives

By: Ajoy K Das     15th January 2018 India’s Mines Ministry has unveiled the draft National Mineral Policy (NMP) 2018, which proposes to offer mineral exploration companies the right of first refusal at the auction of any area explored by them. The draft NMP, which is now open for feedback from industry and stakeholders, maintains... 

Zimbabwe state diamond company to lift output 65% in 2018 – Minister

By: Reuters     15th January 2018 Zimbabwe’s state diamond company is expected to produce at least 3 million carats this year, up 65 percent from 1.8 million in 2017, the mines minister told parliament on Monday. Winston Chitando said the Zimbabwe Consolidated Diamond Company, which was formed in 2016 when the government banned... 

Zimbabwe state diamond company to lift output 65% in 2018 – Minister

GMEL looking to simplify refining at Kvanefjeld rare earths project

By: Megan van Wyngaardt     15th January 2018 A technical optimisation programme, currently being undertaken at the Kvanefjeld project, in Greenland, has identified significant improvements at the project, Greenland Minerals and Energy (GMEL) reported on Monday. The optimisation programme, which is being carried out in collaboration with... 

Bernard Olivier appointed as Mustang MD

By: Megan van Wyngaardt     15th January 2018 ASX-listed Mustang Resources has appointed' Dr Bernard Olivier to its board as MD, and has created a new position of COO, which is filled by Cobus van Wyk. Olivier has stepped into the position that Christiaan Jordaan vacated in November. 

Perseus set for first gold pour at Sissingué ahead of schedule

By: Natasha Odendaal     15th January 2018 First gold from dual-listed Perseus Mining’s Sissingué gold mine, in Côte d’Ivoire, is now expected by the end of January, ahead of schedule, with ramp up to full-scale commercial production expected to be achieved by March 31. This followed the introduction of crushed ore to the mill and the... 

Triton starts due diligence on WA lithium asset acquisition

By: Natasha Odendaal     15th January 2018 ASX-listed Triton Minerals on Monday said it had started due diligence on the Western Australia lithium assets and royalties that it planned to acquire from Westgold Resources. The Australian company in December entered into an option agreement with Westgold for a package of lithium assets in the... 

Centrex says Ardmore phosphate study shows strong returns

By: Natasha Odendaal     15th January 2018 A scoping study for the Ardmore phosphate project, in north-west Queensland, has revealed strong potential returns and further cemented conceptual economics, ASX-listed Centrex Metals said on Monday. The company, which acquired the project in June 2017, has been focused on developing a phosphate... 

Expansion study planned for Century zinc mine

By: Mariaan Webb     15th January 2018 Base metals miner New Century will conduct an expansion feasibility study, based on the potential to mine the southern-most portion of the original ore body at its Century zinc mine, in Queensland. Located directly adjacent to the existing Century processing plant, the South block complements... 

Expansion study planned for Century zinc mine
The Century zinc mine, in Queensland.

IFR gains Mexican drilling permit

By: Henry Lazenby     13th January 2018 The TSX-V-listed equity of oil and gas explorer International Frontier Resources (IFR) has gained about two-thirds this week after it announced on Thursday that it has received a drilling permit for its Tecolutla onshore oil and gas block, which it is developing with its Mexican joint venture... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

By: Henry Lazenby     13th January 2018 Canadian gemstone-focused miner Fura Gems is setting up a single-stop destination in Dubai, where rubies and emeralds produced from its Mozambique and Colombian assets will be graded and sold at the Almas Tower. “The Almas Tower is arguably one of the most secure spaces in the world, from where... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

US trade panel allows China aluminium sheet dumping probe to proceed

By: Reuters     12th January 2018 The US International Trade Commission on Friday said in an initial finding that imports of aluminium alloy sheet metal from China harm US producers, allowing a US probe to proceed into whether the product was being dumped or unfairly subsidized. Employing a seldom-used tactic aimed at speeding... 

Search for space water heats up with Planetary’s Arkyd-6 satellite launch

By: Henry Lazenby     12th January 2018 Space mining hopeful Planetary Resources has successfully launched its latest satellite, the Arkyd-6 – a 6U CubeSat – containing a demonstration of technology designed to detect water resources in space. Planetary reported that the team has already started receiving telemetry from the spacecraft,... 

First Majestic to buy distressed Primero, reforms San Dimas silver stream accord

By: Henry Lazenby     12th January 2018 The dismantling of former precious metals producer Primero Mining is nearly complete with the company announcing on Friday that Mexico-focused miner First Majestic Silver will buy the distressed company for $320-million. Under terms of an arrangement agreement between the two companies, all of... 

First Majestic to buy distressed Primero, reforms San Dimas silver stream accord
Photo by Primero Mining
San Dimas, Mexico

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Glencore issues invitation to tender for supply of steel to South African mine

By: Creamer Media Reporter      12th January 2018 Diversified miner Glencore has issued an invitation to tender for the supply of leach vats structural steel at its opencast Rhovan mine, near Brits, in the North West, in South Africa. Interested parties have until January 24 to register, with a site meeting scheduled for January 25. 

Armadale to sell noncore Mpokoto project

By: Anine Kilian     12th January 2018 Aim-listed Armadale Capital has entered into a heads of agreement (HoA) with Weghsteen Capital Advice (WCA) for the sale of Armadale’s interest in the Mpokoto gold project, in the Democratic Republic of Congo, to Radismore, for $562 500 and a 1.5% royalty on gold produced.  WCA is acting on... 

Avocet defers sale of Burkina Faso operations at buyer’s request

By: Megan van Wyngaardt     12th January 2018 Aim-listed Avocet has deferred the completion of the $5-million sale of its Resolute operations in Burkina Faso, to Ghana-based Balaji Group, to January 25. The struggling miner set the sale in motion last year to stave off potential bankruptcy for its units in the West African country, with the... 

Goldplat, Rand Refinery close in on settlement in dispute

By: Natasha Odendaal     12th January 2018 Aim-listed Goldplat has entered into a memorandum of understanding (MoU) with Rand Refinery regarding a proposed full and final settlement agreement over long-outstanding fees owing and payable to its subsidiary, Goldplat Recovery, by Rand Refinery. The MoU, which followed the parties’ agreement... 

Goldplat, Rand Refinery close in on settlement in dispute
Photo by Duane Daws
Goldplat CEO Gerard Kisbey-Green

Ortac is renamed Arc Minerals

By: Creamer Media Reporter      12th January 2018 In a new chapter for Aim-listed Ortac Minerals, the company is changing its name to Arc Minerals and will start trading under the new name on January 22. The renaming follows a number of material changes that have been implemented, including executing a strategy to focus on its African... 

Orinoco delivers further high-grade samples through hammer mill

By: Natasha Odendaal     12th January 2018 ASX-listed Orinoco Gold has obtained further high-grade samples from its pilot hammer mill at the Cascavel gold project, in Brazil, as it works towards sustainable and profitable production in 2018. The most recent batch of six samples milled through the pilot hammer mill returned grades of 9.61... 

Monty copper/gold development on time, below budget

By: Megan van Wyngaardt     12th January 2018 The Monty copper/gold deposit in Western Australia, which forms part of ASX-listed Talisman’s Springfield joint venture (JV) project with Sandfire Resources, has since the start of ground-breaking activities in July 2017, seen site activities having been ramped-up considerably; on time and under... 

Gold set for 5th week of gains, buoyed by slump in dollar

By: Reuters     12th January 2018 Gold prices rose for a third session on Friday to hit their highest since September, with a slump in the US dollar helping drive bullion towards its fifth-straight weekly gain. Spot gold had edged up 0.5% to $1 328.84/oz by 0703 GMT, after earlier touching its highest since Sept. 15 at $1 330.34. 

Gold set for 5th week of gains, buoyed by slump in dollar

Port Elizabeth manganese export terminal to be transferred to Port of Ngqura

By: Anine Kilian     12th January 2018 State-owned Transnet has confirmed that its manganese export facility at the Port of Port Elizabeth will be transferred to the neighbouring Port of Ngqura by October 2023, where the commodity will continue to serve as an important catalyst for economic growth and development. During a site visit... 

Russia's Arlan aims to have doubled gold output in 2020

By: Reuters     12th January 2018 Russian gold producer Arlan plans to have doubled gold output from its mine in 2020, expecting the price for the precious metal to rise further, the firm's director for development said. Russia, the world's third largest gold producer, has seen its gold mining expand in recent years with a... 

Tawana’s Bald Hill set for current quarter production

By: Natasha Odendaal     12th January 2018 ASX-listed Tawana Resources and joint venture (JV) partner Singapore-listed Alliance Mineral Assets Limited (AMAL) are preparing for the start of lithium concentrate production from its Bald Hill lithium and tantalum mine, in Western Australia, during the current quarter. In an update to... 

Indian tribunal orders liquidation of Gujarat NRE Coke

By: Reuters     12th January 2018 India's National Company Law Tribunal (NCLT) has ordered liquidation of Gujarat NRE Coke after the company's debt resolution plans failed. The Kolkata bench of the NCLT, the designated court for bankruptcy cases, on Thursday passed the order, which was filed with the stock exchanges on Friday. 

Chinese coal imports rise in Dec on looser customs curbs

By: Reuters     12th January 2018 China's coal imports rose in December from the previous month, as Beijing loosened curbs on shipments brought in through some ports to ease supply shortages of the fuel. Arrivals of coal, which include lignite, reached 22.74-million tonnes last month, up from 22.05-million tonnes in November,... 

Canadian companies struggle to plan for post-NAFTA world

By: Reuters     12th January 2018 Canadian industries that would be most acutely impacted by the death of the North American Free Trade Agreement are unable to meaningfully plan for a possible post-NAFTA world given the uncertainty of what could replace it, analysts and executives said. With three quarters of Canadian exports... 

Kirkland achieves FY17 production records

By: Natasha Odendaal     12th January 2018 Triple-listed Kirkland Lake Gold has finished the 2017 financial year strong, achieving record production across the board and surpassing an already-improved guidance. Kirkland achieved full-year 2017 production of 596 405 oz – a 10% increase on the prior year – beating its revised guidance of... 

Kirkland achieves FY17 production records

Indonesia lays groundwork for transfer of Grasberg mine to local control

By: Reuters     12th January 2018 Indonesian regional and central government officials on Friday signed an agreement with state holding company PT Inalum that lays the foundation for the transfer of Freeport-McMoRan's giant Grasberg copper mine to local control. Indonesia and Papua have long pushed for greater control over... 

Centerra finally receives Turkish pastureland permit

By: Henry Lazenby     12th January 2018 TSX-listed gold producer Centerra Gold has received the Turkish pastureland permit for its Öksüt growth project, paving the way for the project’s future development. The Toronto-based company advised on Thursday that its Turkish subsidiary Öksüt Madencilik Sanayi ve Ticaret (Omas) took receipt of... 

Centerra finally receives Turkish pastureland permit
Photo by Centerra Gold
The Öksüt project, in Turkey.

Stavely signs earn-in, JV deal for copper tenement

By: Megan van Wyngaardt     12th January 2018 ASX-listed Stavely Minerals has agreed terms for an earn-in and joint venture (JV) agreement with Black Range Metals – a wholly-owned subsidiary of ASX-listed Navarre Minerals for Black Range’s exploration licence EL5425.  The licence is adjacent to Stavely’s Yarram Park project and surrounds the... 

Queensland LNG exports surpass prior records in 2017

By: Natasha Odendaal     12th January 2018 Queensland has achieved record liquefied natural gas (LNG) exports in the year to December 2017, Queensland Resources Council CEO Ian Macfarlane said on Friday. During 2017, Queensland exported 20.2-million tonnes of LNG, an increase of 2.7-million tonnes on the exports reported in 2016. 

Queensland LNG exports surpass prior records in 2017
The Gladstone LNG project in Queensland.

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