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Mining News

Argosy says Qingdoa seeks to terminate Rincon lithium offtake deal

By: Esmarie Swanepoel     11th October 2017 ASX-listed Argosy Minerals will resist attempts by China’s Qingdoa Qianyun High-tech New Material Company to terminate an offtake agreement over the Rincon lithium project, in Argentina. In August, the two companies executed an equity placement and preliminary offtake agreement worth... 

Cokal raises A$4m to get started on BBM Stage 2

By: Esmarie Swanepoel     11th October 2017 Coal producer Cokal has announced plans to raise A$4-million to assist in funding the Stage 2 development of its flagship Bumi Barito Mineral (BBM) project, in Indonesia, as Stage 1 production continues apace. The miner on Wednesday reported that Stage 1 of the BBM asset was achieving... 

New Century secures $45m to reopen Qld zinc mine

By: Esmarie Swanepoel     11th October 2017 Base metals developer New Century Resources has secured a $45-million debt facility to fund the restart of its Century zinc mine, in Queensland. The debt facility, secured from global resources fund Sprott Resource Lending, will have a 10% a year interest on a three-year fixed term. 

‘Industrial manslaughter’ won’t improve safety compliance – QRC

By: Esmarie Swanepoel     11th October 2017 The Queensland Resources Council (QRC) has raised concerns about the Queensland government’s proposed changes to workplace health and safety legislation, saying on Wednesday that it would have the perverse outcome of reducing safety. The state government earlier introduced legislative changes to... 

Galaxy strikes a deal with Lepidico

By: Esmarie Swanepoel     11th October 2017 Lithium miner Galaxy Resources has subscribed for A$2.9-million in shares in fellow-listed Lepidico, giving the company a 12% stake in Lepidico. Galaxy subscribed for more than 291.7-million shares in Lepidico, at a price of 1c a share. 

Thalanga delivers first concentrates

By: Esmarie Swanepoel     11th October 2017 The Thalanga zinc project, in Queensland, has delivered its first zinc concentrate one month after the start of processing. ASX-listed Red River Resources on Wednesday told shareholders that the first two loads of zinc concentrates, amounting to some 150 t, left site on Tuesday for delivery to a... 

Qld releases more exploration acreage

By: Esmarie Swanepoel     11th October 2017 The Queensland government will release more than 19 000 km2 of land for gas exploration as part of its annual exploration programme, Natural Resources and Mines Minister Dr Anthony Lynham said on Wednesday. The gas generated from these exploration tenements will be used to power local... 

Hastings increases Yangibana resource

By: Esmarie Swanepoel     11th October 2017 The Joint Ore Reserves Committee compliant resource at the Yangibana rare earths project, in Western Australia, has now increased to more than 20.5-million tonnes, ASX-listed Hastings Technology Metals reported. The new resource estimate includes recent drilling results at two new targets, and... 

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Exxaro sells Tronox shares for R6.5bn
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Japan Gold expands portfolio

By: Henry Lazenby     11th October 2017 TSX-V-listed exploration junior Japan Gold has expanded its epithermal gold exploration portfolio in Japan with the addition of two new projects in the prospective Southern Kyushu epithermal gold province. The Vancouver-headquartered company advised that the Tobaru and Ohra-Takamine projects... 

Laramide unveils maiden uranium resource at Church Rock

By: Henry Lazenby     11th October 2017 Dual-listed Laramide Resources has announced a maiden inferred resource for its Church Rock in-situ recovery (ISR) project, in New Mexico. Prepared by Roscoe Postle Associates, in Denver Colorado, with the assistance of Laramide's technical team, the technical report calculated a compliant... 

Meridian reports record Q3 output, sales; new offtake accord

By: Henry Lazenby     11th October 2017 Manganese miner Meridian Mining has reported new record production and sales at its flagship Espigão project, in Rondônia, Brazil. London, UK-based Meridian achieved production of 18 488 t in the third quarter ended September 30, compared with 13 445 t in the comparable period a year earlier – a... 

Nexa, formerly Votorantim Metais, plans IPO for up to $651m

By: Reuters     11th October 2017 Mining company Nexa Resources, formerly Votorantim Metais Holding, and its controlling shareholder expect to raise between $576-million and $651-million in its initial public offering in New York and Toronto. In a filing with the US Securities and Exchange Commission, Nexa said parent... 

Water recovery issue hamstrings throughput potential at Diamcor’s Krone-Endora at Venetia

By: Henry Lazenby     11th October 2017 Borehole water quality and the excessively suspensive properties of the extremely fine kimberlitic clay materials of the Krone-Endora at Venetia project, in South Africa, have conspired to constrain the improved potential throughput, project owner Diamcor Mining of Kelowna, in British Columbia,... 

Nemaska starts commissioning of roaster; achieves high-grade concentrate

By: Henry Lazenby     11th October 2017 TSX-listed project developer Nemaska Lithium has received its final 6.3% lithium oxide (Li2O) flotation concentrate from third party SGS Lakefield, allowing the Quebec City-based company to start commissioning its Stage 1 mineral extraction circuit at the 100%-owned Shawinigan demonstration... 

Investor appetite for mining projects can be whetted by accurate project scopes – DRA

By: Schalk Burger     10th October 2017 To attract investment, it has become necessary for organisations to complete projects under budget and well ahead of schedule, diversified engineering multinational DRA Global CEO Wray Carvelas says. While investment appetite seems to be returning to the mining sector as investors look to unlock... 

Poland's KGHM hopes to pay out dividend for 2017 - CEO

By: Reuters     10th October 2017 Europe's No.2 copper miner KGHM Polska Miedz would like to pay out a dividend from its 2017 profit, it's CEO Radoslaw Domagalski-Labedzki said on Tuesday. In June, shareholders of the Poland-based state-run firm approved a dividend payout of 1 zloty per share, the lowest dividend payout in 16... 

South African mining rights application process open to corruption – Corruption Watch  

By: Anine Kilian     10th October 2017 Nonprofit organisation Corruption Watch says it has identified vulnerabilities in the mining rights application process that gives rise to corruption between mining companies, government authorities and community leaders. A new report ‘Mining for Sustainable Development’, which was released in... 

South African mining rights application process open to corruption – Corruption Watch
Corruption Watch researcher Amanda Shivamba discusses the vulnerabilities in South Africa's mining rights application process that may contribute to corruption. Video and editing: Nicholas Boyd.

Gamsberg zinc prestrip close to halfway mark – Vedanta

By: Martin Creamer     10th October 2017 The prestripping of waste rock at the Gamsberg zinc mine project in the Northern Cape is close to the halfway mark, Vedanta Resources reported on Tuesday, when its interim CEO Kuldip Kaura described as “strong” the quarterly production performances of the London-listed, India-rooted mining... 

Gamsberg zinc prestrip close to halfway mark – Vedanta
Photo by Duane Daws
Activity at the Gamsberg zinc mine project.

Edenville secures five-year offtake agreement for Rukwa coal

By: Creamer Media Reporter      10th October 2017 Aim-listed Edenville Energy has signed a five-year coal offtake agreement with Kenya-based coal and commodities trader Riftcot. Under the terms of the agreement, Riftcot will buy up to 75% a year of coal produced at Edenville’s Rukwa project, in Tanzania, at a recognised commercial market price. 

Gold, zinc explorers spearhead reversal of five-year global exploration downturn

By: Samantha Herbst     10th October 2017 Boosted by increased exploration efforts in the gold and zinc sectors, the global nonferrous exploration budget is up in 2017 – for the first time since 2012 – by more than 14%, year-on-year, to $7.95-billion, according to new analysis by S&P Global Market Intelligence. The twenty-eighth edition... 

Gold, zinc explorers spearhead reversal of five-year global exploration downturn

McKinsey says will pay back fees if South African court finds Eskom deal illegal 

By: Reuters     10th October 2017 McKinsey will repay fees it earned for six months' work last year at South African State utility Eskom if a high court finds the deal was unlawful, the global consultancy said on Tuesday. Eskom had given McKinsey and its local partner Trillian until Tuesday to repay R1.6-billion ($117-million) in... 

McKinsey says will pay back fees if South African court finds Eskom deal illegal

Mustang granted Montepuez mining concession

By: Creamer Media Reporter      10th October 2017 The Mozambique Minerals and Energy Ministry has granted ASX-listed Mustang Resources a mining concession for its Montepuez project. The concession is valid until September 2042 and paves the way for the company to increase its processing capacity, as planned, following its maiden tender. 

Bluejay increases land position in Greenland

By: Creamer Media Reporter      10th October 2017 Aim- and FSE-listed Bluejay Mining has increased its landholding in south-west Greenland, where it sees potential for mineralisation similar to that of the Norilsk-Talnakh nickel/copper sulphide mine, located in northern Russia. Bluejay increased its land package for the Disko-Nuussauq magmatic... 

Tharisa reports best production year

By: Martin Creamer     10th October 2017 Platinum group metals (PGM) and chrome co-producer Tharisa on Tuesday reported a record fourth quarter, which nudged the company to its best yearly production performance to date in the 12 months to September 30. The JSE-listed company, headed by CEO Phoevos Pouroulis, said in a release to... 

Tharisa reports best production year
Tharisa CEO Phoevos Pouroulis

Swedish govt goes back to Norbotten CAB over Kallak project

By: Mariaan Webb     10th October 2017 Explorer and developer Beowulf Mining should have more clarity about Kallak North exploitation concession application in the next few months. The company, which is listed on the Aim, reported on Tuesday that the Swedish government had gone back to the County Administrative Board (CAB) for... 

Mining finance groups invest in C$85m in Dalradian

By: Mariaan Webb     10th October 2017 TSX- and Aim-listed Dalradian Resources on Tuesday announced that it had raised C$84.75-million from two respected mining finance groups, which have signed up to participate in the advancement of the Curraghinalt gold project, in Northern Ireland. Orion Mine Finance II has agreed to make an... 

Mining finance groups invest in C$85m in Dalradian

Adani signs PPA over Rugby Run solar plant

By: Esmarie Swanepoel     10th October 2017 Indian major Adani has signed a power purchase agreement (PPA) over its planned Rugby Run solar plant, in Queensland. The 65 MW first stage of the solar plant is expected to cost more than A$100-million to complete, and will be built on a 600-ha block that is part of the Rugby Run grazing property. 

Liberal party blocks Western Australia gold royalty hike

By: Esmarie Swanepoel     10th October 2017 The Western Australian gold sector has welcomed a decision by the Liberal party to block a proposed increase in gold royalties in Parliament. Following a protest by representatives from the gold industry earlier in the day, the Liberals jointed other opposition parties in their vow to block... 

Liberal party blocks Western Australia gold royalty hike

Thunderbird mineral sands mine gains EPA approval

By: Esmarie Swanepoel     10th October 2017 The Western Australian Environmental Protection Authority (EPA) has approved the Thunderbird mineral sands project, which ASX-listed Sheffield Resources is developing, subject to a number of conditions. Under the recommended conditions, Sheffield will be required to undertake progressive mine... 

Ausgold raises A$3.9m for Katanning exploration

By: Esmarie Swanepoel     10th October 2017 ASX-listed junior Ausgold will raise A$3.9-million through a share placement and entitlement offer to fund exploration work at its Katanning gold project, in Western Australia. An initial A$1.5-million will be raised through a share placement, priced at 2.5c a share, with about 60.5-million... 

Gunner cuts the ribbon at expanded Tanami

By: Esmarie Swanepoel     10th October 2017 Northern Territory Chief Minister Michael Gunner has officially opened the $120-million expansion of US gold miner Newmont Mining’s Tanami operations. The expansion is expected to increase Tanami’s gold production by 80 000 oz/y to between 425 000 oz/y and 475 000 oz/y of gold, lower all-in... 

Ramelius beats production forecasts

By: Esmarie Swanepoel     10th October 2017 Gold miner Ramelius Resources has exceeded its September quarterly production target of between 28 000 oz and 32 000 oz, producing 33 150 oz of gold in the three months to the end of September. The company on Tuesday noted that the Mt Magnet operation contributed 20 127 oz during the quarter,... 

Admiral Bay's PFS proves positive

By: Esmarie Swanepoel     10th October 2017 A prefeasibility study (PFS) into the Admiral Bay zinc project, in Western Australia, has confirmed that the project could support both a direct shipping ore (DSO) operation and a combined DSO and concentrate project. “The PFS Stage 1 has delivered outstanding results for Admiral Bay and has... 

Gold Road finds new exploration ground

By: Esmarie Swanepoel     10th October 2017 ASX-listed gold developer Gold Road Resources has signed to earn-in joint venture (JV) agreements with Cygnus Gold over exploration tenements in south-west Western Australia. Under the terms of the agreement, Gold Road could earn a 75% interest in the Wadderin and Lake Grace greenfield... 

Bass signs offtake for 50% of Graphmada Stage 1

By: Esmarie Swanepoel     10th October 2017 Graphite developer Bass Metals has inked a sales agreement for 50% of the Stage 1 production from its Graphmada graphite project, in Madagascar. The ASX-listed company on Tuesday announced that it had signed a sales agreement with Europe-based Possehl Erzkontor for the purchase of 3 000 t/y of... 

Dismal outlook casts pall over new iron-ore mining season in Goa 

By: Ajoy K Das     10th October 2017 A slump in international prices, an absence of buyers and high carryover stocks have cast a pall of gloom over the new mining season in western Indian province of Goa. So much so, that no miner in Goa have resumed operations even though a new mining season officially started on October 1 – the of... 

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