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Mining News

US finds China aluminium foil subsidised, imposes duties

By: Reuters     9th August 2017 The US Commerce Department said on Tuesday it made a preliminary finding that imports of aluminium foil from China are subsidised, and it imposed countervailing duties ranging from 16.56% to 80.97%. US aluminium foil producers had filed petitions with the US government accusing Chinese producers... 

Chile short-lists seven companies for value-added lithium projects

By: Reuters     8th August 2017 The Chilean government has short-listed seven companies to develop value-added lithium projects in the country, state development agency Corfo said on Tuesday, the latest move in Chile's push to diversify its exports. Chile is part of South America's "lithium triangle," home to more than half the... 

Copper Mountain reports buoyant Q2 results

By: Henry Lazenby     8th August 2017 The TSX-listed stock of midtier miner Copper Mountain gained up to 7% on Tuesday, following the company reporting encouraging second quarter results. The company, which owns and operates the Copper Mountain mine, in southern British Columbia, expects to be ideally placed to take advantage of... 

Mundoro mobilises for Phase 2 drilling at Borsko, Serbia

By: Creamer Media Reporter      8th August 2017 Canadian explorer Mundoro is mobilising for the Phase 2 drilling programme at the Borsko Jezero licence, in Serbia, with drilling expected to start later this month. The programme is a follow-up to the first phase drilling programme completed in May, which tested for two of six generated drill... 

Galileo continues review of Concordia drilling programme results

By: Creamer Media Reporter      8th August 2017 Aim-listed Galileo Resources is still analysing and assessing the information generated by consultants Minxcon on the initial drilling programme at the Concordia copper project, in the Northern Cape. Under the terms of a January 2016 joint venture agreement with Shirley Hayes, Galileo obtained... 

Zwane, CoM’s dispute over Mining Charter 3 heats up

By: Natasha Odendaal     8th August 2017 Mineral Resources Minister Mosebenzi Zwane has hit back at the Chamber of Mines (CoM) in a dispute over the Mining Charter Three, accusing the chamber of blocking transformation efforts in the mining industry. Filing his answering affidavit in the High Court of South Africa on Monday, Zwane said... 

Zwane, CoM’s dispute over Mining Charter 3 heats up
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Iron-ore exports to China from Port Hedland drop 12% in July

By: Reuters     8th August 2017 Iron-ore shipments to China from Australia's Port Hedland terminal dropped 12% to 32.03-million tonnes in July from 36.6-million tonnes in June, port data released on Tuesday showed. Overall iron-ore shipments from the world's biggest export terminal for the steelmaking raw material dipped to... 

Sumitomo Metal Mining exits Solomon Islands nickel exploration project

By: Reuters     8th August 2017 Japan's Sumitomo Metal Mining said on Tuesday it will withdraw from a nickel exploration project in the Solomon Islands owing to slumping nickel prices, harsh business circumstances and the outcome of legal proceedings. Sumitomo Metal Mining, which began exploring in the Solomons in 2005, has... 

Vista Gold sees Q2 net loss of $2.7-million

By: Samantha Herbst     8th August 2017 TSX- and NYSE-listed gold project developer Vista Gold Corp saw a net loss of $2.7-million, or $0.03 a share, for the three months ended June 30. This included $2.2-million of net operating expenses and an unrealised $0.5-million mark-to-market loss on the company’s investment in gold explorer... 

GAIL throws lifeline to Kochi LNG as it restarts gas pipeline construction

By: Ajoy K Das     8th August 2017 Gas infrastructure major GAIL India has started work on a stalled 438 km gas pipeline, throwing a lifeline to the Kochi liquefied natural gas (LNG) terminal, languishing at less than 10% capacity utilisation. GAIL last week officially restarted work on constructing the pipeline connecting Kochi... 

IronRidge strengthens management team with appointment of exploration manager

     8th August 2017 Aim-listed IronRidge Resources has appointed Joe Clarry exploration manager.   The appointment bolsters IronRidge's management team as the company continues to expand and develop its projects in Africa, in particular its rapidly developing lithium project portfolio. Clarry will work closely with... 

Firestone Diamonds revises FY18 guidance downwards

By: Natasha Odendaal     8th August 2017 Aim-listed Firestone Diamonds’ Liqhobong diamond mine, in Lesotho, is now expected to produce between 800 000 ct and 850 000 ct in the 2018 financial year. This is lower than the one-million carats previously targeted and is expected to impact revenues in the financial year to June 30, 2018. 

Construction starts at Paringa’s Poplar Grove mine

By: Esmarie Swanepoel     8th August 2017 Construction of the Poplar Grove coal mine, in western Kentucky’s Illinois basin, has started, some 18 months after a decision to build was taken. ASX-listed Paringa Resources said on Tuesday that first coal production from the 2.8-million tonne a year mine was expected within 12 months. 

Trafigura to buy zinc and lead from Red River’s Thalanga

By: Esmarie Swanepoel     8th August 2017 ASX-listed Red River Resources has inked a zinc and lead offtake agreement over its Thalanga zinc project, in Northern Queensland. The offtake agreement with Trafigura accounted for 122 000 t of zinc concentrate and 27 400 t of lead concentrate, with pricing to be determined by metal prices on... 

BHP reports fatality at Goonyella Riverside

By: Esmarie Swanepoel     8th August 2017 Diversified major BHP has reported a fatality at its Goonyella Riverside coal mine, in Queensland. The company said on Tuesday that a full investigation was under way, with project partners BHP and Mitsubishi continuing to work closely with the relevant authorities. 

BHP reports fatality at Goonyella Riverside

Orinoco completes plant modification in Brazil

By: Esmarie Swanepoel     8th August 2017 Gold miner Orinoco Gold has completed a low capital cost process plant modification at its Cascavel gold mine, in Brazil, resulting in a 500 t trial parcel of low-grade ore being produced. The modification included the replacement of screen deck panels with smaller aperture panels, as well as... 

Prairie stands behind Polish asset

By: Esmarie Swanepoel     8th August 2017 ASX- and Aim--listed coal developer Prairie Mining has refuted claims by the Polish Chief National Geologist, insisting that the company had government support to develop its Jan Karski coal mine. Prairie said that the Chief National Geologist recently made a number of incorrect claims regarding... 

Wescoal appoints new CFO

By: Creamer Media Reporter      7th August 2017 JSE-listed Wescoal has appointed Izak Van der Walt CFO and executive director effective September 1. He succeeds Bothwell Mazarura, who will step down as CFO and executive director on August 31, to pursue a role as FD at Kumba Iron Ore. 

Alrosa searches for 8 workers missing after flooding at diamond mine

By: Reuters     7th August 2017 Rescue teams were still searching on Monday for eight workers missing in a flooded underground mine owned by Russian diamond miner Alrosa after one miner was rescued over the weekend. Parts of the "Mir" ("Peace" or "World") mine in the remote Yakutia region of eastern Siberia flooded on Friday... 

Solidarity concerned over loss of recognition at Lonmin

By: Creamer Media Reporter      7th August 2017 With the Association of Mineworkers and Construction Union (AMCU) recognised as the only trade union at platinum miner Lonmin’s operations, Lonmin has removed the recognition and organisational rights of minority trade unions Solidarity, the National Union of Mineworkers (NUM) and Uasa, according... 

Lithium processors prepare to meet demand in era of electric car 

By: Reuters     7th August 2017 Producers of processed lithium – an essential element for batteries used in electric cars – are agreeing long-term contracts with their customers to fund the investments needed to address a looming shortfall. Demand for battery-grade lithium compounds is expected to skyrocket in the next decades... 

Lithium processors prepare to meet demand in era of electric car

R&E widens half-year losses

By: Natasha Odendaal     7th August 2017 JSE-listed Randgold & Exploration (R&E) expects to widen its loss and headline loss a share by more than 60% to between 14.7c and 15.56c apiece for the six months ended June 30. This compared unfavourably with the loss and headline loss a share of 8.67c during the corresponding period last year. 

Sarama completes C$1.85m private placement

By: Natasha Odendaal     7th August 2017 TSX-V-listed Sarama Resources last week announced the completion of its C$1.85-million private placement. Sarama issued 10.27-million common shares to raise proceeds to advance resource exploration of properties in Burkina Faso, and for general working capital purposes. 

Silvercorp reports Q1 uptick

By: Natasha Odendaal     7th August 2017 TSX-listed Silvercorp Metals has reported a first-quarter rise in net income attributable to equity shareholders of 134%, on the back of an increase in metal prices and the gains of the disposal of Silvertip mine's net smelter return. During the three months to June 30, Silvercorp achieved a net... 

Nautilus completes $2-million private placement

By: Natasha Odendaal     7th August 2017 TSX-listed Nautilus Minerals has closed its $2-million private placement under a subscription agreement with Mawarid Offshore Mining and Metalloinvest. The company issued an aggregate of 11.76-million common shares at an issue price of C$0.21 a share. 

Mantos acquires Rio Tinto's shares in Mason Resources

By: Samantha Herbst     7th August 2017 Pursuant to a share purchase agreement with diversified mining major Rio Tinto subsidiary Rio Tinto Holdings, and Canadian mineral exploration and development company Turquoise Hill Resources, Bermuda-based Mantos Copper will acquire about 13-million shares in copper development company Mason... 

Richland’s Queensland sapphire mine approaches profitability

By: Mariaan Webb     7th August 2017 The ramp up of the Capricorn sapphire mine to 1.2-million carats a quarter has lifted Richland Resources’ half-year performance, with the Aim-listed company on Monday reporting a significant revenue increase. The mine, in Queensland, delivered 1.96-million carats in the first six months of the... 

Six Conroy Gold directors removed at meeting

By: Mariaan Webb     7th August 2017 Six directors of Aim- and ESM-listed Conroy Gold and Natural Resources were removed at a general meeting on Friday and the minority shareholder who called the vote now wants the remaining three to be removed too. Conroy Gold, which explores in Ireland and Finland, reported on Monday that Patrick... 

Merafe cuts net debt by 50% in H1

By: Natasha Odendaal     7th August 2017 JSE-listed Merafe Resources has ended the first six months of this year on a stronger financial basis after reducing its net debt by 49% to R207.8-million, from R409.3-million in the six months to December 2016. During the six months under review, Merafe continued to repay the bulk of its head... 

Lonmin to sell excess processing capacity, implement other measures to ensure sustainability

By: Mia Breytenbach     7th August 2017 Despite “pleasing” third-quarter production results, which showed an improved mining performance, reduced unit costs and increased net cash in July, platinum mining major Lonmin remains concerned by the persistent adverse macroeconomic conditions, as well as the inflationary cost pressures... 

Lonmin to sell excess processing capacity, implement other measures to ensure sustainability
Lonmin CEO and COO Ben Magara

Czech grants Auroch drilling approval for Tisová

By: Mariaan Webb     7th August 2017 Drilling at the historic Tisová copper mine in the Czech Republic is set to start in early September, explorer Auroch reported on Monday. An initial 12-hole drilling programme has been approved for the project, which hosts a volcanogenic massive sulphide-rich system previously mined for copper. 

A$600m capital investment at Olympic Dam in 2018

By: Esmarie Swanepoel     7th August 2017 Mining major BHP will spend more than A$600-million at the Olympic Dam operation, in 2018. Asset president Jacqui McGill said in a speech at the American Chamber of Commerce in Adelaide, last week, that the company had 49 projects in execution at Olympic Dam during the 2018 financial year. 

A$600m capital investment at Olympic Dam in 2018

India to give captive mining definition more flexibility

By: Ajoy K Das     7th August 2017 India’s Mines Ministry will put out draft amendments to the Mineral Auction Rules 2015, which will make it easier for bidders to participate in mineral block auctions and will also tweak the definition of captive mining. According to a Ministry official, the draft amendments will be published... 

Accelerated mining plan to bring forward 200 000 oz at Tropicana

By: Esmarie Swanepoel     7th August 2017 Diversified metals miner Independence Group is on track to bring forward over 200 000 oz of gold production at its Tropicana gold joint venture (JV), in Western Australia, between 2017 and 2019, with the re-introduction of grade streaming. Independence, which owns 30% of Tropicana in a JV with... 

Govt supports Northern Minerals training plan

By: Esmarie Swanepoel     7th August 2017 The federal government has awarded ASX-listed Northern Minerals some A$4.8-million in funding as part of its Building Better Regions fund, to develop an Aboriginal training-to-work (T2W) programme at the Browns Range heavy rare earth pilot plant project, in Western Australia. Northern Minerals... 

Renascor gets govt funding

By: Esmarie Swanepoel     7th August 2017 Mining junior Renascore Resources has been awarded A$25 000 from the South Australian government for its Siviour graphite project, in the Eyre Peninsula. The funds, which was granted under the state government’s Future Jobs Fund, will be used to develop a business case to support construction of... 

Millennium reports maiden resource at Bartons underground

By: Esmarie Swanepoel     7th August 2017 Gold miner Millennium Minerals has reported a maiden underground resource of 475 000 t, grading 5.3 g/t gold for 80 400 oz of contained gold at the Bartons deposit, below the existing Bartons pit at the Nullagine gold project, in Western Australia. Millennium CEO Peter Cash said on Monday that... 

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