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Mining News

Alrosa sells main diamond from Dynasty collection

By: Simone Liedtke     3rd August 2018 Diamond miner Alrosa on Thursday sold its Dynasty collection, and its central diamond of the same name, a 51.38-ct round stone, for a total of $10-million. The first auction for the sale of the collection, held in November 2017, saw four of the five stones sold, with the excess of final prices... 

Completion of Back Forty feasibility study signals significant milestone for Aquila

By: Simone Liedtke     3rd August 2018 A feasibility study, compiled by Lycopodium Minerals Canada, has been completed on TSX-listed Aquila Resources’ 100%-owned zinc- and gold-rich Back Forty project, in Michigan, in the US. Citing the completion of the Back Forty project’s feasibility study as a “significant milestone for Aquila”,... 

First Mining grants Gainey option over Mexico property

By: Marleny Arnoldi     3rd August 2018 TSX-V-listed Gainey Capital has signed an option agreement to earn a 100% interest in TSX-listed First Mining Gold’s Las Margaritas gold prospect, in Mexico. The project comprises two mineral concessions encompassing a total of 500 ha.  

Equinox’s Brazil mine on track to pour gold before year-end

By: Marleny Arnoldi     3rd August 2018 Vancouver-based Equinox’s Aurizona gold mine, in Brazil, is on track to achieve year-end 2018 gold pour, with the overall project being 60% complete and plant construction being 51% complete at the end of June. Installation of semi-autogenous grinding and ball mills is under way and ore... 

Letšeng large diamond recoveries reach a record in H1

By: Marleny Arnoldi     3rd August 2018 LSE-listed Gem Diamonds continued to recover large diamonds during the first half of this year, with a record ten diamonds greater than 100 ct recovered, at its Letšeng mine, in Lesotho. Gem recovered another such diamond in July, which resulted in the highest number of more-than-100 ct... 

Letšeng large diamond recoveries reach a record in H1

Sibanye-Stillwater to swing to H1 profit

By: Marleny Arnoldi     3rd August 2018 Precious metals producer Sibanye-Stillwater’s Southern Africa platinum group metals (PGMs) operations have produced about 569 000 oz of platinum, palladium, rhodium and gold (4E) PGMs at an all-in sustaining cost (AISC) of about R10 110/oz for the six months ended June 30. This means Sibanye is... 

Blockchain technology could prove beneficial to the mining industry – Fitch Solutions

By: Creamer Media Reporter      3rd August 2018 Blockchain has the potential to serve as a powerful tool for mining companies looking to improve their environmental, social and governance standards as consumer pressure in this regard continues to grow, the latest report by Fitch Solutions shows. While blockchain also offers a number of other... 

Power system recovery to take 30 days, load-shedding risk remains high

By: Simone Liedtke     3rd August 2018 State-owned Eskom expects it will take up to 30 days for the power system to recover from the effects of the recent industrial action, which interrupted continuous processes at the power stations. During the 30-day recovery period, the risk of load-shedding remains high, it warned on Friday. 

Power system recovery to take 30 days, load-shedding risk remains high

Kabwe project on track despite cancellation of BMR’s share trading

By: Anine Kilian     3rd August 2018 The cancellation of admission to trading on Aim of BMR’s shares does not impact the execution of the Kabwe project, Jubilee Metals said on Friday.   BMR and Jubilee have entered into discussions, with Jubilee having offered to fully fund the completion of the Kabwe project against an immediate... 

Managem seeks additional 30% of Avocet's Tri-K project

By: Anine Kilian     3rd August 2018 Aim-listed Avocet is assessing whether the conditions for the second closing of its Tri-K transaction with Managem have been met. Avocet announced in October 2016 that it had entered into an agreement with Managem for Managem to ultimately earn a 70% interest in the Tri-K gold project, in Guinea,... 

Gemfields sells 90% of emeralds on offer at latest auction

By: Anine Kilian     3rd August 2018 Gemfields’ latest auction, comprising predominantly commercial quality rough emeralds, generated revenues of $10.89-million, with an overall average value of $4.21/ct achieved. The auction was held in Lusaka, Zambia, from July 30 to August 2. 

Erudite adopts a fresh approach to transformation 

By: Nadine James     3rd August 2018 Becoming a sustainable and relevant mining industry service provider requires a genuine effort to meet and address issues of localisation and transformation, while fostering local partnerships to develop extractive projects in African countries, suggests engineering, procurement and construction... 

Erudite adopts a fresh approach to transformation
Erudite chairperson Vince Raseroka and CE Johann de Bruin discuss the need for an African-focused EPCM mining services provider. Video: Darlene Creamer; Editing: Nicholas Boyd

Paladin noteholders set to meet

By: Esmarie Swanepoel     3rd August 2018 The noteholders of dual-listed Paladin Energy are expected to meet on August 21 to vote on the creation of a lien of Paladin Finance in favour of Nedbank in relation to the environmental performance bond obligations for the Kayelekera mine. The noteholders are also expected o vote on a waiver in... 

Classic raises funds for gold exploration

By: Esmarie Swanepoel     3rd August 2018 Junior explorer Classic Minerals has raised A$1.8-million through a share placement to fund drilling at its Forrestania gold project, in Western Australia. The company on Friday said that some 400-million shares were placed at an issue price of 0.45c each to institutional and sophisticated... 

Ironbark finds contractor for Citronen

By: Esmarie Swanepoel     3rd August 2018 Base metals hopeful Ironbark Zinc has signed a memorandum of understanding (MoU) with mining contractor Byrnecut Offshore over the Citronen zinc/lead project, in Greenland. The two companies will now work on a commercial agreement for underground contract mining services, underground mine cost... 

Silver Mines raises A$3.8m

By: Esmarie Swanepoel     3rd August 2018 ASX-listed Silver Mines will raise A$3.85-million through a rights issue to fund exploration at its Barabolar project, in New South Wales. The company on Friday announced it will undertake a one-for-four renounceable pro-rata entitlement offer, priced at 3c a share, to raise the funds. 

Merger volumes fall in second quarter

By: Esmarie Swanepoel     3rd August 2018 Global merger and acquisition (M&A) transaction values in the mining and metals sector fell by 9.5% year-on-year in the second quarter of 2018, advisory firm Ernst & Young (EY) reported this week. In its latest quarterly data, the company noted that while deal value in the first half of 2018 was... 

Merger volumes fall in second quarter

Australian mining industry wins public support

By: Esmarie Swanepoel     3rd August 2018 New research undertaken on behalf of the Minerals Council of Australia (MCA) has shown that public opinion towards the Australian mining sector was at its highest level in six years, after hitting a low in 2016. Public opinion research conducted in May this year has shown that views towards coal... 

Pilbara to seek board approval for 3Mt/y Pilgangoora expansion

By: Esmarie Swanepoel     3rd August 2018 The definitive feasibility study (DFS) for the Stage 2 expansion of the Pilgangoora lithium/tantalum project, in Western Australia, has made a compelling case for the development, said ASX-listed Pilbara Minerals. The Stage 2 operation will see an additional three-million tonne a year processing... 

Pilbara to seek board approval for 3Mt/y Pilgangoora expansion

Regis goes underground at Rosemont

By: Esmarie Swanepoel     3rd August 2018 The board of gold miner Regis Resources has approved a A$29.4-million investment to develop an underground mining operation beneath the current Rosemont openpit mine, in Western Australia. Regis on Friday said that the underground component of the expanded operation would exploit a mineral... 

Russian gold miner Polyus posts 10% rise in Q2 net profit

By: Reuters     3rd August 2018 Polyus, Russia's largest gold producer, on Friday reported second-quarter net profit of $114-million, up 10% year on year, due to higher gold sales. Excluding non-cash items, such as a foreign exchange loss, its adjusted net profit, jumped 68% to $457-million and matched its adjusted earnings... 

Russian gold miner Polyus posts 10% rise in Q2 net profit
Polyus CEO Pavel Grachev

Number of female mineworkers gradually increasing as technology and conducive policies are introduced

By: Nadine James     3rd August 2018 The mining industry remains male dominated and much can still be done to address issues that specifically affect women. However, policies aimed at attracting, supporting and retaining women have led to a gradual, but steady increase in the number of women in core roles, as well as the industry in... 

Number of female mineworkers gradually increasing  as technology and conducive policies are introduced

Sumitomo says Ambatovy to miss FY18/19 nickel output target

By: Reuters     3rd August 2018 Japanese trading house Sumitomo Corp expects that nickel output at its Ambatovy project in Madagascar will likely fall short of its earlier target of 48 000 t in the year to March 2019, its chief financial officer said on Friday. "The Ambatovy has run at about 64% to 65% of full capacity in the... 

Mount Polley workers accept new contract, strike ends

By: Creamer Media Reporter      3rd August 2018 Unionised workers at the Mount Polley mine, in British Columbia, have accepted a new three-year contract, ending a more than two-month strike at the copper/gold mine, near Williams Lake. Imperial Metals said on Thursday that the new contract is effective from January 1, 2018. 

1 300 jobs affected as Lydian responds to illegal Armenia demonstrations

By: Mariaan Webb     2nd August 2018 It has been more than a month since Lydian International first reported that illegal road blockages are preventing access to the Amulsar site and the Canadian company has now issued termination notices to about 30% of its workforce, idled construction contractors and warned of more job cuts to... 

1 300 jobs affected as Lydian responds to illegal Armenia demonstrations
A December 2017 photo of the Amulsar site, in Armenia.

Workers at Chile's Escondida give BHP deadline to avoid strike

By: Reuters     2nd August 2018 The union at BHP Billiton's Escondida mine in Chile, the world's biggest copper mine, told the company on Thursday that it should improve its contract offer by August 6 or it would begin preparations for a strike. Union workers announced earlier on Thursday that they had voted to reject the... 

Coeur expands historical Nevada focus with Northern Empire buy

By: Mariaan Webb     2nd August 2018 NYSE-listed Coeur Mining on Thursday announced that it would buy Northern Empire, which owns high-grade heap-leachable deposits in Nevada, in a recommended transaction that values the TSX-V-listed junior at about $90-million, or C$117-million. Northern Empire’s principal asset is the fully... 

Tahoe Resources CEO says top priority is ending Guatemala mine dispute

By: Reuters     2nd August 2018 The new chief executive of Tahoe Resources said on Thursday that his top priority is ending a long-running dispute in Guatemala that has stopped all of the mining company's silver production. Jim Voorhees, who became CEO of the Reno, Nevada-based company in June, said he has deployed new staff... 

Tahoe Resources CEO says top priority is ending Guatemala mine dispute
Tahoe Resources' Escobal silver mine.

Solidarity, NUM not satisfied with latest gold industry wage increase offer

By: Creamer Media Reporter      2nd August 2018 Trade union Solidarity on Thursday said the latest wage increase offer made by the Minerals Council South Africa on Thursday was lower than its members expected. It pointed out that the council, which is negotiating on behalf of gold mining companies, had offered between a 3.5% and a 4.5%... 

Implats’ R2.7bn cut of 13 000 jobs, five shafts, 230 000 oz, evokes Minister’s rebuke 

By: Martin Creamer     2nd August 2018 The drastic R2.7-billion restructure of the Impala Rustenburg mine, involving the loss of 13 000 jobs, the closure of five shafts and cutting of 230 000 oz out of yearly platinum production, has evoked a strong rebuke from the Mineral Resources Minister Gwede Mantashe, who has accused Impala... 

Implats’ R2.7bn cut of 13 000 jobs, five shafts, 230 000 oz, evokes Minister’s rebuke
Photo by Creamer Media
Implats CEO Nico Muller (left) and Implats group mining engineer Thabile Makgala

CCP hopes to get first investment approved by year-end

By: Anine Kilian     2nd August 2018 Recently launched 12J mining fund Concentrate Capital Partners (CCP) is hoping to get one of its first investments approved by year-end. Speaking to Mining Weekly Online on the sidelines of the 12J Marketplace conference, in Johannesburg, on Thursday, MD Paul Miller said the venture capital... 

La Mancha buys 30% stake in Golden Star for $126m

By: Creamer Media Reporter      2nd August 2018 Private gold investment company La Mancha Holding, which is chaired by Naguib Sawiris, will acquire a 30% stake in TSX-listed Golden Star Resources for $125.7-million. Golden Star owns the Wassa and Prestea underground mines, in Ghana. 

Tando to accelerate exploration at South African vanadium project

By: Nadine James     2nd August 2018 ASX-listed junior exploration company Tando Resources on Thursday announced that it heliborne magnetic survey has delineated targets that demonstrate the potential for a low-cost direct shipping ore (DSO) operation at its SPD vanadium project, in South Africa. As a result, Tando has decided to... 

Kaz Minerals expands into Russia with $900m copper deal

By: Reuters     2nd August 2018 Kaz Minerals, a low-cost copper producer until now focused on Kazakhstan, said it has agreed to buy the Baimskaya copper project in the Chukotka region of Russia for $900-million in cash and shares. The deal is comprised of an initial $675-million and a deferred payment of $225-million. 

Kaz Minerals expands into Russia with $900m copper deal

Centamin's core earnings beat expectations, shares rise

By: Reuters     2nd August 2018 Gold miner Centamin's quarterly core earnings topped market expectations as lower-than-estimated mine site costs and inventory-driven sales volumes offset a drop in production. Shares of the Egypt-focused company climbed 4% in morning trading on the London Stock Exchange. 

New twist in M&R battle as takeover body disallows further progress on Aveng tie-up

By: Terence Creamer     2nd August 2018 The protracted tussle for control of Murray & Roberts (M&R) took yet another turn this week, after the Takeover Special Committee (TSC) overturned a June decision by the Takeover Regulation Panel (TRP), allowing M&R to continue with preparations for a potential combination with Aveng, despite the... 

New twist in M&R battle as takeover body disallows further progress on Aveng tie-up

Resources Watch  

2nd August 2018 Kumba ‘very bullish’ on exploration prospects; Premium prices being paid for Kumba’s quality iron-ore; And, Anglo Platinum taking steps to reverse unjustified investor bearishness 

Resources Watch
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