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Mining News

Middle Island secures further expansion options in WA

By: Esmarie Swanepoel     11th September 2017 Junior gold developer Middle Island Resources has unveiled a second expansion option for its Sandstone gold project, in Western Australia. The ASX-listed company has entered into an option deed over the Dandaraga gold project, some 16 km southeast of the existing Sandstone gold project and... 

Thalanga produces first base metal concentrate

By: Esmarie Swanepoel     11th September 2017 The Thalanga zinc project, in Queensland, has produced its first copper, lead and zinc concentrate, ahead of schedule and budget. ASX-listed Red River Resources MD Mel Palancian said on Monday that the start of production at Thalanga, ahead of schedule and under budget, was an outstanding... 

Origin in A$190m Otway deal

By: Esmarie Swanepoel     11th September 2017 Energy major Origin Energy will pay A$190-million to increase its interest in the Otway gas project joint venture (JV), in Victoria. The ASX-listed company on Monday announced that it would acquire JV partner Benaris’ 27.77% interest in the project, as well as its interest in exploration permits... 

Tanzania says to nationalise diamond consignment seized from Petra Diamonds

By: Reuters     11th September 2017 Tanzania said on Saturday it planned to nationalise diamonds whose value it put at $29.5-million belonging to a mine majority owned by London-listed Petra Diamonds after it accused the miner of under-declaring its mineral exports. The diamonds were seized at the main airport in Tanzania's... 

Proxy advisers ISS, Glass Lewis support Washington Companies’ $1.2bn Dominion buy

By: Henry Lazenby     9th September 2017 TSX- and NYSE-listed Dominion Diamond Corp announced late on Thursday that proxy advisory firms Institutional Shareholder Services (ISS) and Glass, Lewis & Co have both recommended that Dominion shareholders vote in favour of suitor The Washington Companies’ $1.2-billion acquisition.... 

Hudbay launches C$278.76m financing

By: Henry Lazenby     9th September 2017 Base metals miner Hudbay Minerals has signed an agreement with a syndicate of underwriters to raise up to C$278.76-million on a bought deal basis. The Toronto-based miner has agreed to issue 24-million shares at C$10.10 each, to raise C$243.4-million. 

US braces for Hurricane Irma as effects of Harvey still progress toward consumers

By: Henry Lazenby     9th September 2017 While the effects of Hurricane Harvey are still progressing downstream in the US oil and gas supply chain, progressing towards consumers, Hurricane Irma is threatening the US with another potential blow, with parts of the country already seeing a disruption of energy and chemical product... 

Improving prices prompt Fortune to aim for bigger, more economic Nico development

By: Henry Lazenby     9th September 2017 With a bird in hand, Canadian project developer Fortune Minerals is considering to up the ante for its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories. The London, Ontario-based company late last month announced that its update of the 2014 feasibility study for... 

Improving prices prompt Fortune to aim for bigger, more economic Nico development
Photo by Fortune Minerals
Fortune Minerals president and CEO Robin Goad

Pan African’s tailings retreatment project set to boost Mpumalanga economy

By: Ilan Solomons     8th September 2017 Government, trade unions and traditional leadership have heaped praise on South African precious metals miner Pan African Resources for the development of its R1.7-billion Elikhulu tailings retreatment plant (TRP) project, located at the company’s Evander gold mine, in Mpumalanga. Speaking at the... 

Pan African’s tailings retreatment project set to boost Mpumalanga economy
Pan African CEO Cobus Loots, Mpumalanga Finance, Economic Development and Tourism MEC Eric Kholwane and Department of Mineral Resources (DMR) director-general Advocate Thabo Mokoena

Red Rock gains another 1% in Steelmin

By: Natasha Odendaal     8th September 2017 The stake of natural resource development company Red Rock Resources in strategic alloy producer Steelmin has increased to 17%, after being issued an additional 1% share capital as part of a €3.87-million secured loan agreement. The eight-month secured loan note, agreed in June, saw Aim-listed... 

Eurasia signs collaboration agreement with Singapore’s GoldMint

By: Creamer Media Reporter      8th September 2017 Russia-focused precious metals producer Eurasia has entered into a memorandum of understanding with Singapore-based GoldMint to collaborate on potential projects. In terms of the agreement, announced on Friday, Eurasia has the option of collaborating with GoldMint on financing all or part of... 

Russia's Gokhran has bought only gold this year

By: Reuters     8th September 2017 Russia's precious metals and gems repository Gokhran has been buying only gold for its reserves this year, its head Andrey Yurin told reporters in Moscow on Friday. Purchases of platinum group metals are possible but remain subject to market conditions, Yurin said, adding that no purchases of... 

China's CEFC buys into Rosneft as Glencore, Qatar cut stakes

By: Reuters     8th September 2017 Chinese conglomerate CEFC will buy a 14.16% stake in Russian oil producer Rosneft from a consortium of Glencore and the Qatar Investment Authority in a move that further strengthens the energy partnership between Moscow and Beijing. CEFC China Energy has grown in recent years from a niche oil... 

Gold at highest in a year as rate hike expectations recede

By: Reuters     8th September 2017 Gold prices rose to their highest in more than a year on Friday as weak economic data reduced expectations of another interest rate increase in the United States this year, U.S. bond yields fell and the dollar plunged to its weakest since early 2015. Demand for U.S. government debt and other... 

Eskom at a sustainability ‘tipping point’, business and labour warn

By: Terence Creamer     8th September 2017 Business and labour raised serious questions on Friday about the sustainability of State-owned electricity producer Eskom in light if its current governance failings, which were now undermining its financial health to the point where government could be force to assist the utility in meeting its... 

Eskom at a sustainability ‘tipping point’, business and labour warn
Photo by Duane Daws
Labour Minister Mildred Oliphant in conversation with Deputy President Cyril Ramaphosa at the Nedlac Summit

Ferrum Crescent raises funds for exploration in Spain

By: Creamer Media Reporter      8th September 2017 Triple-listed Ferrum Crescent has raised £193 304 before expenses, which the company will use for additional exploration and evaluation activities at the Toral and Lago lead/zinc exploration projects in Spain, and for general working capital. The funds were raised through a placement of... 

Anglesey planning for production at Wales mine in 2020

By: Mariaan Webb     8th September 2017 The recent increase in the prices of the metals that the Parys Mountain mine will produce has spurred on Anglesey Mining to move into action to bring the project into production “as soon as practicable”. Anglesey on Friday announced four immediate steps to progress the north Wales project,... 

Anglesey planning for production at Wales mine in 2020
Drilling at the Parys Mountain project, in north Wales.

India likely to miss mineral block auction target

By: Ajoy K Das     8th September 2017 India’s Mines Ministry is likely to miss its goal of completing the auction of 71 noncoal mineral blocks across seven provinces in the current financial year, despite a flurry of activity to ease federal rules. The unpreparedness of provinces to conduct auctions is largely blamed for the tardy... 

Stratex shareholders seek meeting over Crusader transaction

By: Mariaan Webb     8th September 2017 Aim-quoted Stratex has received a request from a group of shareholders to convene a general meeting over the proposed acquisition of Crusader Resources. The shareholders want the company to terminate the proposed transaction, which was first mooted in May, and they also want to make certain board... 

Tethyan eyes Aim delisting, share consolidation

By: Natasha Odendaal     8th September 2017 Days after listing on the TSX-Venture Exchange, and following a strategic review, Tethyan Resources is planning to delist from the London bourse’s Aim to reduce the additional cost and regulatory burden of maintaining two listings. Tethyan commenced trading on the TSX-V on September 6, following... 

Kibo wins GE innovation award for Mbeya

By: Natasha Odendaal     8th September 2017 Aim- and AltX-listed Kibo Mining has been awarded the General Electric (GE) Innovative Project Development Deal of the Year 2017 for its Mbeya coal-to-power project, in Tanzania. The award was presented to the company in New York on Thursday. 

Directors up stake in Bacanora as Cadence sells 8.9m shares

By: Mariaan Webb     8th September 2017 UK-based mining investment firm Cadence Minerals has realised profit of £2.7-million on the partial sale of its equity stake in Bacanora Minerals, which is developing the Sonara lithium project in Mexico. Cadence sold 8.90-million shares, representing 42% of its equity stake in Bacanora, for... 

Port Hedland iron ore exports to China up 11% in August -Pilbara Ports

By: Reuters     8th September 2017 Iron-ore shipments to China from Australia's Port Hedland terminal rose 11% to 35.7-million tonnes from 32.03-million tonnes in July, port data released on Friday showed. Overall August iron-ore shipments from the world's biggest export terminal for the steelmaking raw material increased to... 

Banfora gold project to lift Teranga output by 50%

By: Esmarie Swanepoel     8th September 2017 The Banfora gold project, in Burkina Faso, is expected to require a capital investment of $232-million, ASX- and TSX-listed Teranga Gold reported on Friday. A feasibility study (FS) found that Banfora could deliver an average of 119 000 oz/y of gold over a nine-year mine life, at an average... 

Nova base metals mine in Fraser Range officially opened

By: Esmarie Swanepoel     8th September 2017 Base metals miner Independence Group has officially opened its Nova nickel/copper/cobalt mine, in Western Australia. MD and CEO Peter Bradford told shareholders on Friday that Nova reached commercial production only five years after its initial discovery, with the project expected to reach... 

Santos to supply ethane gas to Qenos

By: Esmarie Swanepoel     8th September 2017 Oil and gas major Santos and fellow-listed Origin Energy have signed a new agreement with polyethylene producer Qenos to supply ethane gas. Under the terms of the agreement, the two companies will supply an estimated 27 PJ to Qenos for the remainder of 2017 until the end of 2019. 

Bartons a viable development - Millennium

By: Esmarie Swanepoel     8th September 2017 A scoping study into the Bartons underground mine, at the Nullagine gold project, in Western Australia, has proven the project could be developed into a viable mining operation. ASX-listed Millennium Minerals CEO Peter Cash told shareholders on Friday that the scoping study outlined a very... 

Lucapa sells more diamonds, eyes second mine

By: Esmarie Swanepoel     8th September 2017 ASX-listed diamond miner Lucapa has reported gross proceeds of $7.4-million from its seventh sale of alluvial diamonds from the Lulo diamond project, in Angola. The company said that it had sold 3 214 ct in the last tender at an average of $2 298/ct. 

McPhillamys reserve estimated at 2Moz

By: Esmarie Swanepoel     8th September 2017 Gold miner Regis Resources has reported a maiden ore reserve of 60.1-million tonnes at its McPhillamys gold project, in New South Wales. Grading at 1.05 g/t gold, the project is estimated to host an ore reserve of 2.03-million ounces. 

WA gold royalty hike 'disappointing' - Bishop

By: Esmarie Swanepoel     8th September 2017 Australian Foreign Affairs Minister Julie Bishop has labelled the Western Australian government’s recent hike in gold royalties and the introduction of a payroll tax as "disappointing". Speaking on the sidelines of the Africa Downunder conference, Bishop said that it was regrettable that the... 

Qld pumps A$25m into coal health and safety

By: Esmarie Swanepoel     8th September 2017 The Queensland government on Friday announced a A$25-million investment over the next two years to deliver more reforms aimed at protecting the health and safety of the state’s coal workers. In tabling the government’s response to the second Coal Workers’ Pneumoconiosis Select Committee report,... 

Qld pumps A$25m into coal health and safety

Syrah finds buyer for Balama graphite

By: Esmarie Swanepoel     8th September 2017 Graphite developer Syrah Resources has signed an offtake agreement for 30 000 t of graphite from its Balama operation, in Mozambique. The sales agreement with Jixi BTR Graphite Industrial would see the graphite being supplied during the first year of the Balama operation, the company reported on... 

Mining industry has lost faith in Minister Zwane – CoM

By: Esmarie Swanepoel     8th September 2017 The South African Chamber of Mines (CoM) on Friday told delegates at the Africa Downunder conference, in Perth, that the mining industry in South Africa had lost confidence in Mineral Resources Minister Mosebenzi Zwane and in the leadership of the Department of Mineral Resources (DMR). In a... 

Mining industry has lost faith in Minister Zwane – CoM
Photo by Bryan Charlton
Chamber of Mines CEO Roger Baxter speaking at the Africa Downunder conference, in Perth, on Friday.

Cuba shuts down nickel industry as Hurricane Irma approaches

By: Reuters     8th September 2017 Cuba has begun to shut down its nickel industry in preparation for Hurricane Irma, state-run television said on Thursday. One of two processing plants, the state-owned Ernesto Che Guevara, was closed, and the second, a joint venture with Canadian miner Sherritt International Corporation, was... 

Nokeng mulling two or three more fluorspar mines by 2026 as huge shortage is predicted

By: Mia Breytenbach     8th September 2017 Following the breakthrough of opening the first new mine in Gauteng, South Africa, in the last 12 years, which is being developed by producer SepFluor’s wholly owned Nokeng fluorspar mine, the company aims to become vertically integrated in the fluorspar value chain in future. Fluorite ore is... 

Nokeng mulling two or three more fluorspar mines by 2026 as huge shortage is predicted

TransCanada seeks 30-day suspension of Energy East, Eastern Mainline project applications

By: Henry Lazenby     8th September 2017 Oil and gas infrastructure company TransCanada said the viability of its Energy East pipeline and Eastern Mainline projects is in doubt after the Canadian National Energy Board (NEB) last month released a broader scope under which the environmental assessments (EAs) for the two projects will be... 

TransCanada seeks 30-day suspension of Energy East, Eastern Mainline project applications

First Quantum sells another precious metals stream on Cobre Panama

By: Henry Lazenby     8th September 2017 Canadian precious metals streaming firm Franco-Nevada has added another gold/silver stream on First Quantum’s massive $5.5-billion Cobre Panama project, in Panama. First Quantum intends to use the proceeds to partially fund its acquisition of a further 10% interest in Cobre Panama from one of its... 

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