R/€ = 16.13 Change: -0.09
R/$ = 14.21 Change: -0.09
Au 1242.98 $/oz Change: -1.09
Pt 793.61 $/oz Change: 8.05

Mining News

Balama running on schedule after fire

By: Esmarie Iannucci     3rd December 2018 Graphite miner Syrah Resources on Monday reported that the production improvement plan at its Balama graphite project, in Mozambique, was delivering strong results. The miner said that graphite recoveries in November reached 74% following the restart of operations earlier that month, versus 53%... 

Three Australian states ranked among world’s worst for oil and gas investors

By: Esmarie Iannucci     3rd December 2018 Victoria, New South Wales and Tasmania have been named among the ten least attractive destinations for oil and gas investments globally, in a new survey by Canada’s Fraser Institute. The three Australian states are ranked on par with Yemen, Libya, Iraq, Ecuador, Bolivia and Indonesia as the most... 

US maintains oil and gas investor crown as Canadian provinces are shut out

By: Mariaan Webb     3rd December 2018 Oil and gas investors prefer the competitive taxes and regulatory regimes of the energy-producing US states over Canadian provinces, which, for the first time in five years, have not featured at all in the top ten most-attractive jurisdictions for upstream oil and gas investment. This is... 

US maintains oil and gas investor crown as Canadian provinces are shut out

Rio ships first bauxite from new Queensland mine

By: Esmarie Iannucci     3rd December 2018 Mining major Rio Tinto has shipped the first bauxite from its $1.9-billion Amrun project, in Queensland, some six weeks ahead of schedule. More than 80 000 t of bauxite was loaded onto the RTM Weipa, bound for Rio’s Yarwun alumina refinery, in Gladstone. 

Rio ships first bauxite from new Queensland mine

Kropz bullish about future as it lists on Aim 

By: Simone Liedtke     30th November 2018 Emerging plant nutrient producer Kropz, which on Friday listed on the Aim, has raised gross proceeds of about £27.3-million, or about $35-million, before expenses with new UK, South African and international shareholders, as well as existing shareholders. The net proceeds of the fundraising will... 

Kropz bullish about future as it lists on Aim
Photo by Creamer Media
Kropz CEO Ian Harebottle

Kirkland’s Fosterville firing on all cylinders

By: Creamer Media Reporter      30th November 2018 The Fosterville mine in Victoria, Australia, is heading for record quarterly production and is expected to beat the upper-end of its guidance, which will result in owner Kirkland Lake exceeding its consolidated target range 655 000 oz to 670 000 oz this year. The Fosterville mine is expected to... 

Kirkland’s Fosterville firing on all cylinders

Kalahari Metals increases exploration licence shareholding across Kalahari copperbelt

By: Marleny Arnoldi     30th November 2018 Kalahari Metals Limited (KML) has completed the due diligence around the joint venture (JV) in Botswana with Aim-listed Metal Tiger, which will see the companies collaborate on 4 661 km2 across five exploration licences in the Kalahari copperbelt. KML will acquire up to 25% of the licences for... 

Lithium markets to be oversupplied despite EV growth – Moody’s

By: Creamer Media Reporter      30th November 2018 The lithium market is expected to be in oversupply in the early 2020s, despite rapid demand growth from the electric vehicle (EV) battery industry, a new report by Moody’s Investor Services states. Lead author Joseph Princiotta says the surpluses will be greatest between 2020 and 2022, when a... 

Mantashe calls on Sibanye to resolve ongoing workers' strike 

By: African News Agency      30th November 2018 South African Minister of Mineral Resources Gwede Mantashe on Friday urged Sibanye-Stillwater to urgently resolve the workers' strike currently underway at three of the company's gold operations. This, as Mantashe met with Sibanye's executives on Friday morning to receive a briefing on the strike... 

Construction on $4bn Indonesia EV battery project begins Jan 2019 – Minister

By: Reuters     30th November 2018 Developers will begin building a lithium battery project in Morowali, on the Indonesian island of Sulawesi, on Jan. 11, Coordinating Maritime Minister Luhut Pandjaitan said on Friday. The $4-billion project involves investors from South Korea, Japan and China, Pandjaitan told reporters, without... 

Pan African confirms 800 000 oz resource estimate at Royal Sheba

By: Marleny Arnoldi     30th November 2018 Gold miner Pan African Resources has finalised the exploration drilling programme on the Royal Sheba project, in Barberton, Mpumalanga, and declared a mineral resource estimate of 800 000 oz, out of an 8.97-million tonnes reserve, grading 2.62 g/t gold. The consultancy that signed off on the... 

Brazil future president taps Navy admiral for Mining and Energy Minister

By: Reuters     30th November 2018 Brazilian President-elect Jair Bolsonaro on Friday named a Navy admiral as mining and energy minister to oversee Latin America's top oil industry, the eighth veteran of the armed forces to be tapped for a senior government post. Bolsonaro, a former army captain, tweeted the appointment of the... 

India’s GEECL lines up $2bn shale gas investment over next decade

By: Ajoy K Das     30th November 2018 India’s Great Eastern Energy Corporation Limited (GEECL) will invest an estimated $2-billion to develop shale gas resources at its coal blocks at Raniganj, in the eastern state of West Bengal. According to a statement issued on Friday, GEECL expected to start initial shale gas exploration... 

Vedanta’s closed copper plant gets a lifeline

By: Ajoy K Das     30th November 2018 Vedanta’s closed Sterlite copper plant at Tuticorin, southern India, has been thrown a life line with a committee appointed by the National Green Tribunal (NGT) reporting that the closure of the plant was “unjustified” and “against principles of natural justice”. The NGT-appointed committee, in... 

Saldanha iron-ore rail line to remain shut until Dec 9 after truck accident

By: Creamer Media Reporter      30th November 2018 State-owned Transnet has stopped all rail activity along the Saldanha iron-ore export line after a truck carrying an abnormal load with excessive height collided with a railway bridge between Vredendal and Lutzville, in the Western Cape. The accident, which took place at about 10:00 on Wednesday... 

Karnataka mine closure triggers conflicting claims on iron-ore supplies

By: Ajoy K Das     30th November 2018 The closure of NMDC’s Donimalai iron-ore mine has triggered conflicting claims about supplies, with the industry saying there is a shortage, which gives rise to higher prices and imports, while the Karnataka government, for its part, has sought central intervention to tackle a glut in the... 

Loma Larga to be Ecuador’s next large-scale development

By: Mariaan Webb     30th November 2018 One of the five so-called strategic mining projects of Ecuador – Loma Larga – has received a positive feasibility study and is now on the path to accelerated development, with project developer IVN Metals aiming to break ground in early 2020. The feasibility study calculated, on an after-tax... 

Nickel price to weaken during 2019, but strengthen again thereafter

By: Rebecca Campbell     30th November 2018 Analysis and consultancy company Fitch Solutions Macro Research (part of the Fitch Group but separate and distinct from sister company Fitch Ratings) has reduced its forecast nickel price for 2019, while remaining confident that it will thereafter trend upwards again. Its previous nickel price... 

Galantas private placement secures maximum subscriptions

By: Creamer Media Reporter      30th November 2018 Dual-listed Galantas Gold has received subscription agreements for the £4-million that it had set out to raise in its private placement of 80-million shares. The company, which is building the Omagh underground mine in Northern Ireland, said on Friday that London-based investment manager Melquart... 

Peñasquito’s tailings now producing gold

By: Mariaan Webb     30th November 2018 Canadian gold major Goldcorp has started producing gold from the tailings at the Peñasquito mine, in Mexico, as the $420-million pyrite leach project (PLP) has been completed and is now operating 24 hours a day. The PLP is expected to recover about 35% of the gold and 42% of the silver currently... 

Leading Canada’s largest gold mine is not a short-term internship – Detour

By: Mariaan Webb     30th November 2018 Embattled gold miner Detour Gold will not ask interim CEO Michael Kenyon to vacate his position, only to be replaced by another CEO on an interim basis, the company’s board said on Thursday, dismissing a request from activist investor Paulson & Co to appoint Bill Williams to that position. The... 

Leading Canada’s largest gold mine is not a short-term internship – Detour

Fortescue taps new tech to step up copper hunt across Australia

By: Reuters     30th November 2018 Australian miner Fortescue Metals this week said the latest developments in satellite imagery are helping it scour vast swathes of its own backyard for new deposits, seeking an edge as it jostles with global peers for the next big strike. The world's fourth-largest iron ore miner raised its... 

Artemis raises A$5.4m

By: Esmarie Iannucci     30th November 2018 ASX-listed junior Artemis Resources has secured some A$5.4-million in funding from a UK-based institutional investor to fund exploration in the Patersons Range, in Western Australia. “This new funding allows Artemis to start exploration at Armada and finalise the next resource upgrade and... 

BHP extends Decmil's contract at Mulla Mulla

By: Esmarie Iannucci     30th November 2018 Mining major BHP has extended ASX-listed Decmil’s contract at Mulla Mulla in the Pilbara. The works, which upgrade and expand the existing Mulla Mulla village, will support the current operations at Mining Area C and the South Flank project. 

Eastern Goldfields enters administration

By: Esmarie Iannucci     30th November 2018 ASX-listed Eastern Goldfields has gone into voluntary administration. The junior company said on Friday that the administrators would work with the company to review its operations, which were currently on care and maintenance, as well as its financial position. 

Eastern Goldfields enters administration

Qld govt launches RISE programme

By: Esmarie Iannucci     30th November 2018 The Queensland government on Friday launched the Resources Innovators, Scale-ups and Entrepreneurs (RISE) accelerator programme, to provide mentoring to scale-ups offering proven solutions to priority challenges facing the mining and energy resources sectors. “It’s about providing these scale-ups... 

Broken Hill, Cobalt Blue dispute escalates

By: Esmarie Iannucci     30th November 2018 The tussle between joint venture (JV) partners Broken Hill Prospecting and Cobalt Blue have intensified, as Broken Hill refuses to contribute a 30% share of expenditure expected at the Thackaringa cobalt project, in South Australia. The two companies have been at odds over the way forward at the... 

Todd River raises A$4.9m for Mt Hardy exploration

By: Esmarie Iannucci     30th November 2018 Base metals explorer Todd River Resources has completed a A$4.9-million capital raise to fund exploration work at its Mt Hardy zinc/copper project, in the Northern Territory. The ASX-listed company said on Friday that some 57.05-million shares would now be issued, of which fellow-listed S2... 

Chile's Codelco copper output, profit falls as costs rise

By: Reuters     30th November 2018 Chile's Codelco, the world's largest copper producer, said on Thursday that mine output fell 3% in the first nine months of the year as ore grades sharply declined, leading to a 12% drop in pretax profit. The state-run copper miner earned $1.42-billion pretax between January and September as... 

Vedanta seeks US oil services consortium for new India blocks

By: Reuters     30th November 2018 India's Vedanta Resources wants US oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its Cairn Oil & Gas unit, the company's chairman said on Thursday. Vedanta chairperson Anil Agarwal and Cairn Chief Executive Sudhir Mathur met with... 

Master Drilling earmarks ‘significant share’ of capex for product portfolio, market diversification 

By: Paige Müller     30th November 2018 Having grown from strength to strength since its JSE listing in 2012, local innovative drilling solutions provider Master Drilling plans to focus its capital expenditure (capex) on product and market diversification over the next five years, according to group CEO and founder Danie Pretorius.... 

Master Drilling earmarks ‘significant share’ of capex for product portfolio, market diversification

BMW joins project to improve conditions for cobalt mining in Congo

By: Reuters     29th November 2018 German carmaker BMW is exploring ways to improve working conditions for mining cobalt in Congo through a pilot project also supported by chemicals giant BASF, battery maker Samsung SDI and a development agency. Carmakers seeking to boost sales of electric cars are struggling to get their hands on... 

SSR invests C$31m in SilverCrest

By: Mariaan Webb     29th November 2018 Canadian precious metals producer SSR Mining has invested C$30.66-million in explorer SilverCrest, which owns the Las Chispas project, in Mexico. Announcing the private placement investment on Thursday, SSR CEO Paul Benson described the project as a “compelling” investment proposition, with... 

Go-ahead for $295m Argentina lithium expansion

By: Creamer Media Reporter      29th November 2018 The boards of joint venture partners Orocobre and Toyota Tsusho Corporation (TTC) have approved a 25 000 t/y expansion of the Olaroz lithium facility, which will increase the Argentina-based operation’s output to 42 500 t/y. Announcing the final investment decision this week, Orocobre said that... 

Go-ahead for $295m Argentina lithium expansion

DMR hopeful about shale gas prospects 

By: Kim Cloete     29th November 2018 The Department of Mineral Resources (DMR) and the Council for Geoscience (CGS) are upbeat about the prospect of shale gas in the Karoo. “Gas formations are starting to show already,” Mineral Resources Minister Gwede Mantashe told oil and gas investors at an event in Cape Town on Thursday. He said... 

Natural Resources Forum highlights need for collaboration in mining industry

By: Marleny Arnoldi     29th November 2018 Software company Dassault Systemes on Thursday hosted a National Resources Forum conference, which showcased how mining technology, and the thinking behind it, has evolved as a result of the Fourth Industrial Revolution (4IR). Dassault Systemes natural resources director Fiona Carew discussed... 

To embrace 4IR, humans require ‘software upgrade’ – motivational speaker

By: Marleny Arnoldi     29th November 2018 People will need to change their thinking, before the mining industry can change, international business motivational speaker Michael Jackson said during a keynote address at software company Dassault Systemes’ Natural Resources Forum conference, on Thursday. “Our software requires an upgrade”,... 

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