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Mining News

AfriForum, TKAG welcome Shell’s indication to withdraw from shale gas exploration

By: Anine Kilian     16th April 2018 AfriForum and the Treasure THE Karoo Action Group (TKAG) view Shell South Africa’s indication of its intention to withdraw from shale gas exploration in the Karoo as a major victory for those who care about the environment, TKAG said in a statement on Monday. The Herald last week reported that... 

Alrosa switches to cheaper fuel sources to cut operating expenses

By: Creamer Media Reporter      16th April 2018 The conversion of boiler houses and power plants to alternative fuels is expected to reduce the operating expenses of Russian miner Alrosa by about 5.3-billion roubles over the next ten years. In an update on Monday, Alrosa said that it would build a gas boiler-house in Almazny settlement in the... 

Eskom kicks off public hearings by asking for R66.6bn

By: Kim Cloete     16th April 2018 Eskom has argued its case for the National Energy Regulator of South Africa (Nersa) to grant it the R66.6-billion it is claiming, including for unforeseen expenses and unrealised revenue for the past three financial years. An Eskom team on Monday kicked off countrywide public hearings in Cape... 

Eskom kicks off public hearings by asking for R66.6bn
Photo by Dylan Slater
Eskom interim CEO Phakamani Hadebe

Glencore releases all-embracing 117-page sustainability report

By: Martin Creamer     16th April 2018 One of the strategic priorities of diversified mining and marketing company Glencore is to invest in community initiatives that deliver sustainable socioeconomic benefits, the London- and Johannesburg-listed company states in today’s 117-page Sustainability Report 2017, which emphasises the... 

Glencore releases all-embracing 117-page sustainability report
Glencore's Anna Krutikov

Orosur implements cost cutting measures, lowers FY production target

By: Marleny Arnoldi     16th April 2018 TSX- and Aim-listed gold producer Orosur Mining on Monday lowered its production guidance to between 27 000 oz and 30 000 oz of gold, down from the initial 30 000 oz target at its San Gregorio (SG) mine, in Uruguay.  

Amur raises projected earnings forecast

By: Anine Kilian     16th April 2018 Aim-listed Amur Minerals has reported a 78% increase in projected earnings for its Russia-based nickel/copper sulphide Kun-Manie project. The company said on Monday that the projected earnings before interest, tax, depreciation and amortisation (Ebitda) had increased by 78.75% to $2.7-billion,... 

Mining regulation changes in sub-Saharan Africa will continue to fuel uncertainty – BMI

By: Simone Liedtke     16th April 2018 Changes to the mining regulations in various markets across sub-Saharan Africa will continue to fuel uncertainty among investors and pose downside risks to forecasts in the region, says market researcher BMI Research. Internal political and economic considerations, as well as a more favourable... 

Polymetal swaps Russian property for Kazakhstan deposit

By: Anine Kilian     16th April 2018 Gold miner Polymetal has reached an agreement with the Russian Copper Company in which it would exchange its Tarutin property, in Russia, for the East Tarutin property, in Kazakhstan. The asset-swap deal would give Polymetal an 85% stake in the East Tarutin property, which CEO Vitaly Nesis said... 

Anglo Asian delivers 26% production increase

By: Simone Liedtke     16th April 2018 Azerbaijan's top gold producer, Anglo Asian Mining, has delivered a 26% year-on-year increase in gold equivalent ounces in what CEO Reza Vaziri describes as an “excellent” first-quarter performance. Production in the first three months of the year is always the company’s lowest, owing to the... 

EMP submitted for drilling at Metal Tiger, MOD’s Botswana JV

By: Simone Liedtke     16th April 2018 Aim-listed Metal Tiger on Monday announced that it and joint venture (JV) partner MOD Resources have applied to the Botswana Department of Environmental Affairs for approval for an environmental management plan (EMP) for drilling within the about 697 km2 T20 Dome complex. The EMP for the T20... 

Cradle Arc to sell Zambia gold assets to Singa Holdings

By: Simone Liedtke     16th April 2018 Africa-focused base and precious metals exploration and production company Cradle Arc has entered into an option agreement to sell its Matala and Dunrobin gold assets, in Zambia, to Singa Holdings Zambia. The assets are currently held by Cradle Arc subsidiary Luiri Gold Mines. 

Q1 production on par with FY expectation for Ariana’s Turkish gold mine

By: Marleny Arnoldi     16th April 2018 The Kiziltepe joint venture (JV) mine, in which Aim-listed Ariana Resources holds 50%, lifted its first-quarter production by 8% quarter-on-quarter to 4 866 oz, augmented by an increase in gold recovery from the processing plant.  

Resgen secures R540m IDC loan

By: Marleny Arnoldi     16th April 2018 The Industrial Development Corporation of South Africa (IDC) has approved JSE- and ASX-listed Resource Generation’s (Resgen’s) request for R540-million in funding.  

Bluebird reports ongoing progress at South Korea mines

By: Anine Kilian     16th April 2018 Asia-focused Bluebird Merchants has commissioned a water-treatment plant at the Gubong mine, in South Korea. The plant will ensure that water being released from the mine, which Bluebird plans to reopen, meets acceptable standards. 

Gorgon Stage 2 gets approval

By: Esmarie Swanepoel     16th April 2018 The Western Australian state government has welcomed a decision by US energy major Chevron to proceed with the second stage of the Gorgon project expansion, off the coast of Western Australia. Premier Mark McGowan said Chevron's subsea development at the Gorgon natural gas project will create... 

Gorgon Stage 2 gets approval

Davenport reports maiden potash resource in Germany

By: Esmarie Swanepoel     16th April 2018 ASX-listed Davenport Resources has reported a maiden Joint Ore Reserves Committee- (Jorc-) compliant resource of 576.6-million tonnes at the Ebeleben mining licence, in Germany. Grading at 12.1% potassium oxide, the project is estimated to host some 69.3-million tonnes of potassium oxide. 

Lucapa production increases in March quarter

By: Esmarie Swanepoel     16th April 2018 Diamond miner Lucapa has reported a 10% increase in production during the March quarter, with 4 507 carats recovered during the three months under review. Lucapa told shareholders that 58 special diamonds were recovered during the quarter under review, which was a 53% on the previous quarter.... 

Minotaur signs up for NT exploration

By: Esmarie Swanepoel     16th April 2018 ASX-listed explorer Minotaur Exploration has entered into a joint venture (JV) agreement with fellow-listed Andromeda Metals in the Northern Territory. Under the terms of the agreement, Minotaur would sole fund up to A$5-million through a staged earn-in over a maximum six-year period, to earn a... 

Perseus' production surges on Sissingue start

By: Esmarie Swanepoel     16th April 2018 Gold miner Perseus Mining has reported a surge in production for the three months to March after the Sissingue gold mine, in Cote d’Ivoire, started production in January. The Sissingue gold mine reached commercial production at the end of March. 

NEXT starts to deliver results for Lynas

By: Esmarie Swanepoel     16th April 2018 Rare earths miner Lynas has reported a 9% increase in neodymium and praseodymium (NdPr) volumes during the three months to March, as the company’s NEXT project advanced. Lynas in the December quarter of last year launched a A$35-million investment into its NEXT programme, which is aimed at... 

Nzuri improves economics of DRC copper/cobalt project

By: Esmarie Swanepoel     16th April 2018 An updated feasibility study (FS) over Stage 1 of the Kolongwe copper/cobalt project, in the Democratic Republic of Congo, has improved project economics, ASX-listed Nzuri Copper reported on Monday. Incorporating revised cobalt pricing and point-of-delivery, the new FS increased the project’s... 

Rio Tinto moves to comply with US sanctions, declares force majeure on Rusal contracts

By: Esmarie Swanepoel     16th April 2018 Mining major Rio Tinto will declare a force majeure on certain contracts with the world’s second-largest aluminium producer, United Company Rusal, after the US government imposed sanctions against a number of Russian businessmen and corporations. Rio told shareholders that the company had... 

Force looks to consolidate DRC projects

By: Esmarie Swanepoel     16th April 2018 The share price of junior Force Commodities surged by nearly 5% on Monday as the company announced the consolidation of the Kitotolo lithium project, in the Democratic Republic of Congo. Force has signed a binding heads of agreement with Walni Mineral Company to acquire a 75% interest in the... 

Shanta records maiden profit following strategy implementation

By: Natasha Odendaal     16th April 2018 Aim-listed Shanta Gold turned the profit tide in the year ended December 31, 2017, posting a maiden profit after tax of $4.2-million, compared with the 2016 loss after tax of $8-million. The East Africa-focused gold producer, developer and explorer posted an operating profit for the year of... 

AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

AngloGold’s Venkat resigns to take top job at Vedanta Resources
Photo by Creamer Media
AngloGold Ashanti CEO Srinivasan Venkatakrishan

South Africa set to play significant role in Congo potash project 

By: Martin Creamer     16th April 2018 South Africa is likely to play a significant role in the development and construction of the large new potash mine and processing plant that is being planned in the Republic of Congo (RoC) at an expected capital cost of $2-billion. Potentially one of the lowest operational cost potash projects in... 

South Africa set to play significant role in Congo potash project
Mining Weekly Online’s Martin Creamer interviewing Kore Potash’s Sean Bennett and Gavin Chamberlain. Photograph: Dylan Slater. Video and Video Editing: Nicholas Boyd.

Rio to call force majeure on some Rusal-linked contracts

By: Reuters     14th April 2018 Rio Tinto said it will declare force majeure on certain customer contracts after the US imposed sanctions on its partner Russian aluminium producer Rusal. The mining group said on Friday it was working with its customers to minimise disruptions to supply and would fully comply with US sanctions. 

Gensource offtake MoUs signal supply malaise in N American potash market

By: Henry Lazenby     14th April 2018 The fact that junior Canadian start-up Gensource Potash has been able to secure two memoranda of understanding (MoUs) from separate US offtake partners that support the establishment of a new and independent supply of potash, speaks to a certain malaise in the continent’s crop nutrient market.... 

Gensource offtake MoUs signal supply malaise in N American potash market

First ‘Resources for Future Generations’ conference to be held in Vancouver

By: Henry Lazenby     13th April 2018 The Resources for Future Generations conference (RFG2018) is scheduled to make its debut on the Canadian resource conference circuit between June 16 and 21, in Vancouver, and is shaping up to be an event unlike the myriad of competing forums held in Canada throughout the year. RFG2018 chairperson... 

First ‘Resources for Future Generations’ conference to be held in Vancouver
Photo by Resources for Future Generations Conference
RFG2018 chairperson John Thompson

Stornoway's lower Q1 output belies Renard's large diamond potential

By: Henry Lazenby     13th April 2018 Quebec’s sole diamond mine owner and operator Stornoway Diamond Corp has reported higher prices during the first quarter ended March 31 for diamonds produced from its Renard mine, which is increasingly showing a tendency to produce large diamonds. A stronger diamond market in general and the sale... 

Stornoway's lower Q1 output belies Renard's large diamond potential
Photo by Stornoway Diamond Corp
Renard, Quebec

BMI raises 2018 aluminium price forecast on Chinese supply constraints

By: Marleny Arnoldi     13th April 2018 The aluminium price is forecast to strengthen this year, as the demand outlook continues to improve and prices are kept elevated owing to the expectations of Chinese supply constraints, says Fitch Group-affiliated BMI Research.  

Zimbabwe to sell shares in State-owned firms as part of reforms

By: Reuters     13th April 2018 Zimbabwe is looking to sell shares in 35 State-owned firms, including telecoms and mining entities in the latest step to revive the economy under new political leadership, Finance Minister Patrick Chinamasa said on Friday. President Emmerson Mnangagwa, who came to power in November after a de... 

Global tin mine production growth to slow – BMI

By: Simone Liedtke     13th April 2018 Global tin mine production growth will decelerate between 2018 and 2026, compared with 2009 to 2017, owing to stricter environment regulations and declining ore grades in major producers, such as China, Indonesia and Myanmar. However, the market researcher BMI expects that absolute production... 

Lionsgold moves to buy out other TRAC shareholders

By: Simone Liedtke     13th April 2018 Aim-quoted Lionsgold on Friday announced its £1.35m share-for-share offer to the remaining shareholders of TRAC Technology with a view to increasing Lionsgold's shareholding in Goldbloc from 55% to 100%. “Lionsgold intends to significantly increase its ownership from the current 55% of its... 

Anglo American, department launch ambitious education programme

By: Marleny Arnoldi     13th April 2018 Diversified miner Anglo American on Friday launched a new education programme, in partnership with the Department of Basic Education (DBE), which will improve outcomes for learners in 100 early childhood development sites and 100 primary and secondary schools that are local to the company’s... 

Savannah to incentivise senior management as it expedites mining projects

By: Marleny Arnoldi     13th April 2018 Aim-listed resource development company Savannah Resources has implemented a long-term incentive plan (LTIP) to incentivise executive directors and certain senior management as the company continues to expedite its projects to tap into the growing market for energy metals.  

Kun-Manie field engineering campaign to start soon

By: Simone Liedtke     13th April 2018 Exploration and resources company Amur Minerals has completed the restocking and mobilisation of all machinery, spares and supplies needed to complete the 2018 field season at its Kun-Manie nickel/copper sulphide project, in Far East, Russia. The resupply transport effort began on February 15 and... 

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