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Mining News

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

CAML the new owner of Macedonia’s Sasa mine as takeover is completed

By: Creamer Media Reporter      6th November 2017 London-based Central Asia Metals Limited (CAML) is officially the new owner of the Sasa mine in Macedonia, after the company on Monday concluded the acquisition of Lynx Resources and was readmitted to trading on Aim. The $402.5-million acquisition has diversified CAML’s base metal production... 

Advisory body seeks ‘ideal tax’ in proposed India minerals policy

By: Ajoy K Das     6th November 2017 The Indian government’s apex policy advisory body has advocated that the new National Mineral Policy (NMP) “define an ideal taxation system” for the mining sector and explore the possibility of merging current multiple levies into a globally competitive tax regime. The National Institute for... 

Kibaran trebles planned output of Tanzania graphite project

By: Esmarie Swanepoel     6th November 2017 Optimisation testwork at graphite developer Kibaran Resources’ Epanko project, in Tanzania, has flagged the potential trebling of planned battery-grade graphite production. MD Andrew Spinks told shareholders on Monday that the optimisation testwork had confirmed the positive results of Kibaran’s... 

Lonmin to showcase social projects after share price meltdown

By: Reuters     6th November 2017 Embattled London and Johannesburg-listed platinum producer Lonmin will unveil new health and road projects in South Africa on Monday in a ceremony that will be overshadowed by its latest share price collapse. Lonmin, not for the first time, is facing an uncertain future after its shares lost 30%... 

Lonmin to showcase social projects after share price meltdown
Photo by Duane Daws
Lonmin CEO Ben Magara

Thai government braces for legal action over gold mine closure

By: Reuters     6th November 2017 Thailand defended on Friday its decision to close the country's only active gold mine last year, after its Australian operator said it would launch legal proceedings against the government. The military government closed down the Chatree mine, located 240 km (174 miles) north of Bangkok, under... 

Australian Mines’ shares balloon on Sconi raising

By: Esmarie Swanepoel     6th November 2017 Junior metals developer Australian Mines’ shares shot up 44% on Monday, after the company raised A$20-million to fund work at its Sconi cobalt/nickel/scandium project, in Queensland. The ASX-listed company said on Monday it had approached a number of institutional fund managers regarding a... 

Australian Mines’ shares balloon on Sconi raising

Flinders finds A$5m facility for Pilbara project

By: Esmarie Swanepoel     6th November 2017 ASX-listed Flinders Mines has secured a A$5-million loan facility to complete the maturation work at its Pilbara iron-ore project, in Western Australia. The short-term loan facility can be drawn down in two tranches, with the first A$3-million available immediately, and the remaining tranche... 

Black Rock raises funds for DFS in Tanzania

By: Esmarie Swanepoel     6th November 2017 Graphite developer Black Rock Mining will raise A$4.75-million to fund the completion of a definitive feasibility study on the Mahenge graphite project, in Tanzania. The company raised an initial A$4.2-million through the placement of 70-million new fully paid ordinary shares, at 6c each to... 

Segue recovers gold nuggets in WA's Mallina basin

By: Esmarie Swanepoel     6th November 2017 The share price of ASX-listed junior Segue Resources rose by more than 38% on Monday, after the company recovered several gold nuggets from its Pilbara project, in Western Australia. The company noted that prospectors at one of its exploration licences within the Mallina basin had uncovered... 

Rio creates new commercial role

By: Esmarie Swanepoel     6th November 2017 Mining major Rio Tinto has appointed Simon Trott as its chief commercial officer (CCO), reinforcing the miner’s focus on driving value across the business. Trott, who is currently the salt, uranium and borates MD, will report directly to the company’s CEO and will form part of Rio’s executive... 

Maiden graphite resource lifts Mustang share price

By: Esmarie Swanepoel     6th November 2017 The share price of ruby miner Mustang Resources clawed back some ground on Monday after the company announced a maiden inferred mineral resource for its Cuala graphite project, in Mozambique. The project is estimated to host an inferred mineral resource of 5.4-million tonnes, at 13% total... 

Diplomatic row in Central Asia hurting Russia and Europe

By: Reuters     6th November 2017 An escalating diplomatic and trade dispute between Kazakhstan and its smaller central Asian neighbour Kyrgyzstan is hurting companies as far away as London, and pressure is growing on Russia to step in and reconcile its allies. Shares in UK-listed miner Kaz Minerals, which has Kazakh... 

Chad and Glencore to meet in Paris on Monday to discuss debt – govt sources

By: Reuters     6th November 2017 Chadian government officials will meet Glencore executives in Paris on Monday to discuss restructuring the country's debt, two senior Chadian government sources with knowledge of the matter told Reuters on Sunday. Chad has been trying renegotiate its hefty external commercial debt to Glencore,... 

Stornoway reports rising prices for Renard diamonds; Q3 output, grade outperform plan

By: Henry Lazenby     4th November 2017 Quebec diamond miner Stornoway Diamond Corp has reported strong operating results for the third quarter ended September, with diamond output and the Renard mine's grade performing above plan. Stornoway sold a total of 405 643 ct during the quarter in two tender sales, with gross proceeds of... 

Stornoway reports rising prices for Renard diamonds; Q3 output, grade outperform plan
Photo by Stornoway Diamond Corp
Stornoway's Renard mine is Quebec's only diamond producer

Metanor rises on two vein discoveries at Bachelor

By: Henry Lazenby     4th November 2017 Junior miner Metanor Resources has reported a significant intercept grading 4.6 g/t gold at its Bachelor gold mine, located 90 km northeast of Lebel-sur-Quevillon, Quebec. The Val d’Or, Quebec-based miner started an underground drilling campaign in September on Level 11 to the south from the main... 

Denison extends high-grade Gryphon mineralisation at Wheeler River

By: Henry Lazenby     4th November 2017 Uranium explorer and development company Denison Mines has extended the new high grade unconformity-hosted mineralisation up-dip and about 250 m along strike to the northeast of the Gryphon deposit, which is part of the 60%-owned Wheeler River uranium project, in the Athabasca basin of Northern... 

China sets tone for future vanadium-flow battery development

By: Henry Lazenby     4th November 2017 The Chinese government has awarded a major contract to privately held clean technology innovator Pu Neng Energy for the construction of a 12 MWh vanadium-flow battery, as Phase 1 of a larger 40 MWh energy storage project, in Hubei province. This first phase will be installed in Zaoyang, Hubei, to... 

Integra seals DeLamar acquisition, gains TSX-V listing

By: Henry Lazenby     4th November 2017 Exploration company Integra Resources has closed the cash-and-scrip acquisition of its flagship DeLamar gold and silver project, in Southern Idaho, from a subsidiary of Kinross Gold, it advised on Friday. Under terms of the acquisition, Integra paid Kinross C$7.5-million in cash and issued... 

Argentina seeks new markets for aluminium as US probes imports

By: Reuters     3rd November 2017 Argentina is seeking new markets for its aluminium exports as the US probes the national security implications of imports of the metal, an executive at Aluar Aluminio Argentino, the country's leading producer, told Reuters. Aluar commercial director Miroslavo Puches said the company was planning... 

Asanko reports improved Q3 operational, financial performance

By: Natasha Odendaal     3rd November 2017 Encouraging third-quarter operational results have translated into an improved financial performance for dual-listed Asanko Gold. The Canadian junior miner on Friday reported a 21% quarter-on-quarter increase in cash flow from its operations to $40.7-million. 

Orion issues first tranche of shares in capital raising

By: Natasha Odendaal     3rd November 2017 ASX- and JSE-listed Orion Minerals on Friday issued the first tranche of shares as part of a two-tranche capital raising. The company aims to raise $5.5-million at an issue price of 2.4c an ordinary fully paid share to fund the resource drilling campaign at the Prieska zinc/copper project, to... 

Congo State miner failed to log $740m in revenues, report says

By: Reuters     3rd November 2017 Democratic Republic of Congo's State mining company failed to internally register $740-million in income between 2011-2014, much of which is now untraceable, the Carter Center said in a report on Friday. The amount makes up two-thirds of the $1.1-billion that the copper producer was entitled to... 

Resilient Lonmin beats guidance, ups cash

By: Martin Creamer     3rd November 2017 The board of platinum mining company Lonmin has decided to extend the date of the publication of its 2017 financial results to afford management the opportunity to give undivided attention to the group’s operational review, which is targeting a viable business plan based on the possible raising... 

Resilient Lonmin beats guidance, ups cash
Lonmin CEO Ben Magara

Alrosa's Vladivostok special-stone auction brings in $9m

By: Creamer Media Reporter      3rd November 2017 Diamond miner Alrosa has netted $9-million in the special-size rough diamond auction that was held at its branch in Vladivostok in late October. The company sold 66 stones with a total weight of 1 084 ct. Alrosa said the most expensive diamond was a 40.47 ct stone that sold for more than... 

Kyrgyzstan reverses Bozymchak suspension

By: Creamer Media Reporter      3rd November 2017 The Kyrgyzstan government has cancelled the suspension of operations at the Bozymchak mine and full production has resumed, KAZ Minerals reported on Friday. The London-listed company announced on Thursday that the government had suspended operations at the gold and copper mine for three months.... 

PEA supports development of underground mine at Lucara’s Karowe

By: Natasha Odendaal     3rd November 2017 A preliminary economic assessment (PEA) has revealed the potential for the development of an underground mine at Karowe, in Botswana, TSX-listed Lucara Diamond said on Friday. The Vancouver-based diamond producer is considering the development and commissioning of an underground mine after the... 

PIC secures 10.83% stake in Sibanye-Stillwater

By: Natasha Odendaal     3rd November 2017 Gold miner Sibanye-Stillwater on Friday confirmed that it had received formal notification that the State investment arm, the Public Investment Corporation (PIC), has acquired a stake in the JSE-listed firm. The total interest held by the PIC amounts to just under 10.83% of the total issued... 

New Century raises A$53m for zinc mine restart

By: Esmarie Swanepoel     3rd November 2017 ASX-listed zinc developer New Century Resources will raise A$52.9-million through a share placement to progress the restart of its Century zinc mine, in Queensland. The company will place some 44-million new shares to institutional and sophisticated investors, priced at A$1.20 each, to raise the... 

New Century raises A$53m for zinc mine restart

Perseus unveils Yaouré DFS results, says $263m mine ‘well within funding capacity’

By: Esmarie Swanepoel     3rd November 2017 A definitive feasibility study (DFS) into the Yaouré gold project, in Cote d’Ivoire, has estimated that the project could deliver some 1.36-million ounces of gold over an eight-and-a-half year mine life. ASX and TSX-listed Perseus Mining on Friday announced the results of the DFS, which stated... 

Tampia needs A$95m to develop – Explaurum

By: Esmarie Swanepoel     3rd November 2017 Junior Explaurum on Friday told shareholders that its Tampia gold project, in Western Australia, could require a capital investment of about A$95-million to recover 500 000 oz of gold over a six-year mine life. A scoping study into the project found that a single openpit mining operation,... 

Dalgaranga on time and budget – Gascoyne

By: Esmarie Swanepoel     3rd November 2017 The Dalgaranga gold project, in Western Australia, is on scheduled for first gold production in the second quarter of 2018, with the project currently on budget, ASX-listed Gascoyne Resources said on Friday. The design and engineering of the 2.5-million-tonne-a-year processing plant was about... 

Kogi awarded another licence at Agbaja

By: Esmarie Swanepoel     3rd November 2017 The Nigerian Ministry of Mines and Steel Development has granted ASX-listed Kogi Iron an additional mining lease covering some 4 km2. The lease is valid for a period of 25 years, and is renewable, Kogi told shareholders on Friday. 

Tungsten Mining signs MoU with Chinese partner

By: Esmarie Swanepoel     3rd November 2017 ASX-listed Tungsten Mining has signed a nonbinding memorandum of understanding (MoU) with China’s Xiamen Tungsten Company (XTC) over the Mt Mulgine project, in Western Australia. Under the MoU, the two companies will work to establish an offtake agreement under which XTC would purchase tungsten... 

AngloGold confirms two dead, six rescued after Mponeng fall-of-ground incident

By: Natasha Odendaal     3rd November 2017 Two miners have been confirmed dead, with six others rescued at AngloGold Ashanti’s Mponeng mine, near Carletonville, following a seismic activity-triggered fall-of-ground incident on Thursday morning. AngloGold Ashanti on Friday confirmed that the rescue team brought two more workers safely to... 

Uranium-endowed South Africa stands to benefit from ambitions to improve electricity access in Africa

By: Dylan Slater     3rd November 2017 In tandem with growing ambitions to increase access to electricity for many African citizens who currently have limited or no access to electricity comes the call for new large-scale power stations to be built. This has prompted a keen interest in nuclear power stations and, consequently, a... 

Uranium-endowed South Africa stands to benefit from ambitions to improve electricity access in Africa

British Columbia govt digs in against Canadian oil

By: Henry Lazenby     3rd November 2017 The British Columbia provincial government has reiterated its opposition against the flow of oil over its soil. While proponents for Kinder Morgan's Trans Mountain Expansion project have argued that the expansion of Canada's ability to reach new markets in Asia needs to be designated as a... 

British Columbia govt digs in against Canadian oil

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