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Mining News

Anglo willing to play constructive land role  

By: Martin Creamer     29th November 2018 Anglo American CEO Mark Cutifani on Wednesday expressed willingness to play a constructive role in helping South Africa to arrive at solutions involving the diversification of land ownership and ensuring land productivity. Speaking to journalists at a year-end media function, Cutifani urged the... 

Lundin refines three-year production outlook

By: Mariaan Webb     29th November 2018 Canadian base metals miner Lundin Mining has updated its guidance for 2019 to 2010, announcing an increase to its three-year production outlook for copper, owing to a refinement to the guidance of Candelaria, in Chile, and an expected early completion of Eagle East, in the US. The group’s 2019... 

Lundin refines three-year production outlook
The Neves-Corvo mine, in Portugal.

Core increases Finniss resource

By: Esmarie Iannucci     29th November 2018 ASX-listed Core Lithium has increased the mineral resource estimate at its Finniss lithium project, in the Northern Territory, to 6.3-million tonnes, grading 1.4% lithium oxide, following the declaration of a maiden inferred mineral resource estimate for the Sandras deposit. The Sandras deposit... 

ARM shares start trading on A2X

By: Creamer Media Reporter      29th November 2018 Diversified miner African Rainbow Minerals' (ARM's) shares started trading on the A2X on Thursday.   ARM, which will retain its primary listing on the JSE, is the first mining company to list on the A2X.   A2X CEO, Kevin Brady says, “We are pleased to welcome African Rainbow Minerals onto our... 

Independence takes a stake in Buxton

By: Esmarie Iannucci     29th November 2018 ASX-listed diversified miner Independence Group has made a A$4-million investment into fellow-listed Buxton Resources, subscribing for a 15% interest in the company. Buxton on Thursday reported that some 20.4-million shares had been issued to Independence, at a price of 20c each, representing a... 

Lithium hydroxide a viable option at San Jose

By: Esmarie Iannucci     29th November 2018 A scoping study into the San Jose lithium hydroxide project has estimated that ASX-listed Infinity Lithium would have to invest $228-million to develop the Spanish project. ASX-listed Infinity had previously completed a scoping study on a lithium carbonate project, which demonstrated the... 

Australian Mines spin-out lists

By: Esmarie Iannucci     29th November 2018 ASX-listed Australian Mines on Thursday reported that the spin-out and listing of Norwest Minerals has now been completed. Australian Mines earlier this year transferred its Western Australian gold and base metals exploration assets into subsidiary Norwest Gold, and launched an initial public... 

Troilus buys more land north-east of past-producing mine

By: Creamer Media Reporter      29th November 2018 Quebec-focused exploration and early-development company Troilus has significantly expanded its land position through the acquisition of the Troilus North project, located north-east of the Val-d’Or mining district. The Toronto-based company is focused on restarting the former Troilus mine,... 

Western advances plans to reopen Colorado’s Sunday mine complex

By: Creamer Media Reporter      29th November 2018 Colorado-based uranium and vanadium mining company Western Uranium & Vanadium has announced the reopening of the Sunday Mine Complex (SMC) to produce vanadium, a worldwide shortage of which has made several offtake agreements available for ore production. Although no anticipated start date for... 

India’s Adani to fully fund scaled-down Carmichael mine

By: Esmarie Iannucci     29th November 2018 Indian major Adani has secured financing for its Carmichael coal project, in Queensland, with construction at the mine set to start shortly, albeit on an initially smaller scale. The company has been battling to secure financing for the $16.5-billion project, failing to meet a March deadline to... 

Rio Tinto approves $2.6bn ‘game-changer’ iron-ore mine

By: Esmarie Iannucci     29th November 2018 Mining major Rio Tinto on Thursday approved a $2.6-billion investment to develop its Koodaideri iron-ore mine, in Western Australia. “Koodaideri is a game-changer for Rio Tinto. It will be the most technologically advanced mine we have ever built and sets a new benchmark for the industry in... 

Rio Tinto approves $2.6bn ‘game-changer’ iron-ore mine

Chile's Spence copper mine back in operation after strike

By: Reuters     29th November 2018 BHP´s Spence copper mine was operating normally again following a union strike announced earlier on Wednesday, the company said. Union President Ronald Salcedo told Reuters early on Wednesday that about 50 workers had been laid off, in addition to eight supervisors, raising safety concerns for... 

Hastings secures Chinese takeoff

By: Esmarie Iannucci     29th November 2018 Rare earths developer Hastings Technology Metals has signed an offtake contract with China’s Sky Rock Rare Earth New Material Company over its Yangina rare earths project, in Western Australia. Under the terms of the offtake agreement, Sky Rock would purchase 2 500 t/y of carbonate over a... 

Fortescue readies first shipment of new mid-grade iron-ore

By: Reuters     28th November 2018 Australia's Fortescue Metals Group is set to ship the first cargo of its new mid-grade iron ore next month just as a rout in Chinese steel prices helps it improve its margins in competition with higher grade products. The world's fourth-largest iron ore miner will make the first shipment of its... 

Karnataka govt, NMDC spat over Donimalai iron-ore block escalates

By: Ajoy K Das     28th November 2018 The spat between State-run iron-ore miner NMDC and the government of the southern Indian state of Karnataka over the Donimalai iron-ore block has escalated with both sides threatening retaliatory measures. The Karnataka government renewed the lease of the Donimalai mines in favour of NMDC earlier... 

European Lithium lists on London’s NEX

By: Creamer Media Reporter      28th November 2018 Australia-headquartered mining explorer and developer European Lithium started trading on the NEX Exchange Growth Market (NEX) in London on Wednesday. The listing provides the company, which is developing the Wolfsberg lithium project in Austria, to increased exposure and access to European... 

Another Eskom equity injection mooted amid R15bn loss warning   

By: Terence Creamer     28th November 2018 South Africa’s debt-laden electricity utility Eskom is in discussions with government about yet another equity injection, as well as various possible “debt-relief” options, as part of a turnaround plan, which chairperson Jabu Mabuza insists needs to be implemented immediately if the company is to... 

Another Eskom equity injection mooted amid R15bn loss warning
Eskom chairperson Jabu Mabuza on the utility's dire financial position and the board's proposed turnaround plan. Camera Work & Editing: Nicholas Boyd. 28.11.18

Montagne d’Or JV declares official intention to proceed with mine

By: Creamer Media Reporter      28th November 2018 The Montagne d’Or joint venture (JV), comprising Columbus Gold and Nordgold, has declared its official decision to French authorities to move forward with permitting and development of its gold mine, in French Guiana. The official declaration is considered a key milestone in the permitting... 

Workers at BHP's Spence copper mine in Chile strike - union president

By: Reuters     28th November 2018 The workers union at BHP's Spence copper mine in Chile started a strike after layoffs earlier this week, the union leader said on Wednesday, shutting down operations at the northern Chilean deposit. Union President Ronald Salcedo told Reuters that about 50 workers had been laid off, in addition... 

Exxaro expects higher output, coal capex for FY18

By: Creamer Media Reporter      28th November 2018 Diversified miner Exxaro Resources expects to increase its production by 3% year-on-year for the 2018 financial year. FD Riaan Koppeschaar reported in an update to shareholders on Wednesday that its thermal coal production from the Waterberg is likely to increase by 15% year-on-year, in line with... 

Orion finds new copper/zinc massive sulphide body near Prieska project

By: Creamer Media Reporter      28th November 2018 ASX- and JSE-listed Orion Minerals has discovered a new copper/zinc-bearing massive sulphide body located near its flagship Prieska zinc/copper project, in the Areachap Belt, in the Northern Cape.   The discovery hole, OAXD002, was drilled at the Ayoba prospect, a satellite exploration target,... 

Bezant commissions new mining study on Philippines project

By: Creamer Media Reporter      28th November 2018 Copper/gold explorer Bezant has commissioned a new mining study focusing on the high-grade areas of the Mankayan project on the island of Luzon, in the Philippines. The study is to be conducted by mining technical services provider Mining Plus and will examine mining options in relation to... 

Tharisa FY18 headline earnings, operating profit fall

By: African News Agency      28th November 2018 Integrated resource group Tharisa on Wednesday reported a 13.6% decline in headline earnings per share to $0.19 in the year to September 30, while operating profit fell 26.3% to $72.5-million. Revenue was up 16.3% to $406.3-million and the company declared a final dividend to shareholders of... 

Chaarat raises $1m

By: Creamer Media Reporter      28th November 2018 Acquisitive gold company Chaarat on Wednesday announced that it would raise a further $1-million to support its goal of expanding in emerging markets and to support the recently announced acquisition of the Kapan polymetallic mine, in Armenia. The company entered into loan agreements with two... 

Platinum supply, demand expected to increase in 2019 – WPIC

By: Nadine James     28th November 2018 Global platinum demand will marginally outpace supply in 2019 – increasing by 2.4% and 1.6%, respectively – the World Platinum Investment Council (WPIC) announced in its latest Platinum Quarterly report on Wednesday. WPIC research director Trevor Raymond noted that the WPIC’s global platinum 2019... 

Platinum supply, demand expected to increase in 2019 – WPIC

WGC to appoint David Tait chief executive

By: Reuters     28th November 2018 The World Gold Council (WGC) said on Wednesday it would appoint David Tait, an investment banker and member of the Bank of England's market standards board, as chief executive from next year. Tait will take over in February from Aram Shishmanian, the council's CEO for the last decade, the WGC said. 

Gold Fields warns striking workers there will be no ‘sweetener’ deals 

By: Nadine James     28th November 2018 JSE- and NYSE-listed Gold Fields says the settlement agreement offered to striking workers will expire at 17:00 on Friday, November 30, and warns that no further “sweetener deals” will be introduced should the deadline lapse. In a media briefing on Wednesday, CEO Nick Holland reiterated the... 

Gold Fields warns striking workers there will be no ‘sweetener’ deals
Photo by Creamer Media
Gold Fields CEO Nick Holland

Production outlook for Gahcho Kué mine announced

By: Creamer Media Reporter      28th November 2018 The Gahcho Kué diamond mine that Canadian miner Mountain Province owns in partnership with Anglo American’s De Beers is set to produce between 6.6-million and 6.9-million carats in the 2019 financial year – a level also forecast for 2020. The mine, located in the Northwest Territories, will... 

Sibanye says acts of violence continue at its South African gold mines 

By: Creamer Media Reporter      28th November 2018 JSE- and NYSE-listed Sibanye-Stillwater on Wednesday reported that acts of violence continued to be experienced at its South African gold operations, where a strike by Association of Mineworkers and Construction Union (AMCU) members was under way. “The situation at the Beatrix and Driefontein... 

Acacia terminates earn-in agreement with Sarama at Burkina Faso project

By: Creamer Media Reporter      28th November 2018 London-listed Acacia Mining will terminate its earn-in agreement with TSX-V- and FSE-listed Sarama Resources over the South Houndé project, in Burkina Faso. Acacia chose to divest of the project as part of an ongoing review of its exploration portfolio, with the project considered to be noncore. 

Cohiba cashes in on BHP proximity

By: Esmarie Iannucci     28th November 2018 The share price of junior Cohiba Minerals has more than doubled following mining major BHP’s copper discovery in South Australia. Cohiba, which owns the Minerals Horse Well exploration license, adjacent to the BHP discovery, said on Wednesday that it will immediately accelerate its exploration... 

Canadian iron-ore mine’s restart fully financed

By: Mariaan Webb     28th November 2018 Junior iron-ore company Tacora Resources is bringing back to life the defunct Scully mine in Labrador West, Canada, and announced on Tuesday that it had secured the necessary financing to restart operations. The company closed $212-million in private equity and senior secured debt financing,... 

Canadian iron-ore mine’s restart fully financed

Havilah bolsters board's mining experience with appointment of former Tahoe CEO

By: Mariaan Webb     28th November 2018 Canadian junior Havilah Mining has appointed former Tahoe Resources CEO Ron Clayton, who has previous experience at the True North underground mining operation in Manitoba, to its board of directors as it seeks to tap into further expansion by testing its 43 000 ha of highly prospective land in... 

Eastern Goldfields flags potential administration

By: Esmarie Iannucci     28th November 2018 Embattled Eastern Goldfields has flagged the possibility of entering into voluntary administration after a A$75-million recapitalisation transaction fell through. The company on Wednesday told shareholders that it planned to adjourn a November 30 annual general meeting (AGM) until January next... 

Eastern Goldfields flags potential administration

Iluka hopeful of resolving Sierra Leone strike as President intervenes

By: Esmarie Iannucci     28th November 2018 Mineral sands miner Iluka on Wednesday reported a second strike at its Sierra Leone operations in as many months, but said that it was hopeful of restarting mining within the next few days, after the country’s President intervened to find a solution. President Julius Maada Bio has established a... 

Strike gets major holding in UIL

By: Esmarie Iannucci     28th November 2018 ASX-listed Strike Energy has declared its takeover offer for fellow-listed UIL Energy unconditional. Strike in October launched a takeover offer for UIL, offering 0.485 Strike shares for every one UIL share held. 

West African awards underground contract

By: Esmarie Iannucci     28th November 2018 Gold developer West African Resources has awarded an underground mining contract worth $110-million at its Sanbrado gold project, in Burkina Faso. The five-year contract was awarded to mining services provider Byrnecut Burkina Faso, and follows a competitive tender process and extensive due... 

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