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Mining News

Rio and partners to invest $1.5bn in Pilbara

By: Esmarie Iannucci     1st October 2018 Diversified major Rio Tinto and its Pilbara joint venture (JV) partners Mitsui and Nippon Steel & Sumitomo Metal, have approved an $1.55-billion investment to sustain production capacity at two iron-ore projects that form part of the Robe River JV, in Western Australia. Rio’s 53% share of... 

Gemfields in strong position to support planned growth

By: Simone Liedtke     28th September 2018 Gemfields Group Limited (GGL) is now in a strong position to support the planned growth of its underlying mining operations in Zambia and Mozambique, as well as to further develop its Faberge business and progress its bulk sampling in Ethiopia, it said in a report to shareholders for the six... 

Xtract alluvial mining delivers 2 903 oz in H1

By: Tasneem Bulbulia     28th September 2018 Gold producer, exploration and development company Xtract Resources, which has projects in Mozambique, on Friday said about 2 903 oz of total alluvial mining contractor gold had been produced in the six months ended June 30. 

Makhado project’s environmental authorisation faces fresh appeal

By: Tasneem Bulbulia     28th September 2018 MC Mining plans to follow due process to have a fresh appeal against an environmental authorisation (EA) for its Makhado hard coking and thermal coal project dismissed. The appeal by what MC described as a “narrow interest group” has resulted in the suspension of the amended EA. 

Randgold refutes Sokimo’s claims around Barrick merger affecting Kibali ownership

By: Marleny Arnoldi     28th September 2018 Randgold Resources has refuted reported claims by Democratic Republic of Congo State miner Société de Miniere de Kilo-Moto SA (Sokimo) that the proposed merger between Barrick Gold and Randgold will introduce a new partner in the Kibali joint venture. Randgold said the proposed merger would... 

Fitch Solutions revises zinc price forecast for 2018 downwards

By: Tasneem Bulbulia     28th September 2018 Fitch Solutions Macro Research has revised its forecast zinc price for this year down to an average $3 000/t, compared with the previously expected $3 100/t, after the zinc price fell by more than expected in the third quarter. The decrease in the zinc price is attributable to the escalating... 

Wesizwe proceeds with development despite interim losses

By: Marleny Arnoldi     28th September 2018 JSE-listed Wesizwe Platinum swung to a R14.9-million loss for the six months ended June 30, from a R19-million profit in the first half of the prior year. The basic loss a share for the period was 0.92c, compared with earnings a share of 1.17c in the prior comparable period.  

ANS Mining concludes equity deal with Kefi’s TKGM subsidiary

By: Marleny Arnoldi     28th September 2018 Aim-listed Kefi Minerals on Friday confirmed that ANS Mining Share Company had signed a binding project equity investment agreement for its subscription of new equity capital into Tulu Kapi Gold Mines (TKGM) for a minimum of $30-million, which would earn it a stake of 23% in TKGM. The agreement... 

Ariana mulling opportunities to diversify

By: Mariaan Webb     28th September 2018 Gold and silver miner Ariana Resources on Friday reported an interim profit of £319-million, helped by record performance from its joint venture (JV) mine in Turkey, and also announced that it was evaluating opportunities to diversify. The interim profit compares with a loss of £663-million in... 

Zambia hikes mining taxes in 2019 budget to rein in debt

By: Reuters     28th September 2018 Zambia will introduce new mining duties and increase royalties to help bring down mounting debt and narrow its fiscal deficit, Finance Minister Margaret Mwanakatwe said on Friday. Presenting a 86.8-billion kwacha ($7.10-billion) budget, Mwanakatwe said Zambia planned to trim its fiscal deficit to... 

Bezant pitching Philippines copper/gold project to large miners

By: Mariaan Webb     28th September 2018 Aim-listed copper/gold explorer Bezant Resources is actively marketing its Mankayan copper project, in the Philippines, to large mining groups and institutions that recognise the strength of copper fundamental, executive chairperson Colin Bird said on Friday. The project, which is now Bezant’s... 

SolGold CEO: High grades deliver independence

By: Mariaan Webb     28th September 2018 High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a... 

SolGold CEO: High grades deliver independence
The Cascabel project, in Ecuador.

Firestone recovers 835 000 ct in first full year of production

By: Marleny Arnoldi     28th September 2018 Aim-listed Firestone Diamonds has narrowed its loss a share to about $0.03 for the financial year ended June 30, compared with the loss a share of $0.37 in the prior comparable period. In the first full year of production at its Liqhobong mine, in Lesotho, the company’s loss decreased by 91% to... 

Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium

By: Terence Creamer     28th September 2018 Black economic empowerment (BEE) consortium Off The Shelf Investments (OTS) confirmed on Friday that it had acquired Chevron South Africa (CSA) in a deal valued at $1-billion and financed by its technical and financial adviser, Glencore. CSA, which owns the Chevron refinery in Cape Town and the... 

Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium
The Chevron refinery in Cape Town

Law firms see benefits of gazetted Mining Charter 3, MPRDA amendment Bill removal

By: Simone Liedtke     28th September 2018 To effect the necessary changes that are needed for South Africa’s economy to grow, government and industry will, moving forward, have to focus on economic assessments, instead of policy development, says law firm Webber Wentzel partner and mining sector head Jonathan Veeran. Following the... 

Law firms see benefits of gazetted Mining Charter 3, MPRDA amendment Bill removal
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe

Metallurgical coal miners may curb costs as prices slip – Fitch Ratings

By: Tasneem Bulbulia     28th September 2018 Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline over the next 18 months, says Fitch Ratings and CRU. CRU estimates that global costs in the metallurgical coal sector increased by 18% in 2017 and continued to rise this... 

Metallurgical coal miners may curb costs as prices slip – Fitch Ratings

Indian aluminium producers seek higher import barriers

By: Ajoy K Das     28th September 2018 Indian domestic aluminium refiners are seeking tariff and non-tariff barriers to stem the rising tide of imports of the base metal into the country, which has led to lower sales by local metal producers. Major integrated aluminium refiners in the country, including State-run National Aluminium... 

Indian aluminium producers seek higher import barriers

Constantine updates Palmer resource to indicated category at 11% zinc

By: Marleny Arnoldi     28th September 2018 TSX-listed Constantine Metal Resources (CMR) has updated its mineral resource estimate for the Palmer copper/zinc/gold/silver deposit, in Alaska, to an indicated resource of 4.6-million tonnes, grading 11.67% zinc equivalent and 3.84% copper equivalent. This mineral resource update represents... 

India copper imports surge

By: Ajoy K Das     28th September 2018 Almost a third of India’s domestic demand for copper is being met through imports with local copper refiners facing a challenge to meet this cheaper inflow of the base metal into the country. “There has been a surge in copper imports particularly from countries that have signed free trade... 

Polymetal consolidates Saum stake, mining to start H2 2020

By: Marleny Arnoldi     28th September 2018 LSE-listed Polymetal International has acquired the remaining 20% stake in Saum Mining Company, which is the licence holder for the Saum polymetallic deposit, in Russia. The deposit has a resource of 435 000 oz of gold equivalent at 9.7 g/t gold.  

Polymetal consolidates Saum stake, mining to start H2 2020
The Voro openpit mine.

Venezuela, Iran uncertainties push back ONGC Videsh listing plans

By: Ajoy K Das     28th September 2018 Uncertainties over its assets in Venezuela and Iranian projects will push back the listing of ONGC Videsh. The wholly owned overseas investment arm of Indian national oil exploration and production (E&P) major, ONGC Limited has maintained that with its ventures in Venezuela and Iran in a limbo,... 

Hwange Colliery narrows interim loss, signs of recovery shown

By: Tasneem Bulbulia     28th September 2018 Hwange Colliery Company has narrowed its loss for the six months ended June 30 to $23-million, compared with a loss of $24.5-million reported for the six months to June 30, 2017. Despite the loss position, the financial results indicate signs of recovery. 

China battery firms set up $700m nickel JV in Indonesia

By: Reuters     28th September 2018 Chinese battery firm GEM on Friday said it was teaming up with four companies to invest a total of $700-million in a project to produce battery-grade nickel chemicals in Indonesia. The investment comes as several global metals producers have also set their sights on Indonesia's nickel reserves,... 

Union says reached wage deal with Alcoa Australia, will end strike

By: Reuters     28th September 2018 Unionised workers at aluminium producer Alcoa's Western Australian operations on Friday agreed to end a strike that lasted more than six weeks after securing better job security provisions in a new wage agreement. Workers at two alumina refineries and three bauxite mines walked out on August 8... 

Western Australia mineral sands project now fully permitted

By: Creamer Media Reporter      28th September 2018 ASX-listed Sheffield Resources ended the week on a high note with the announcement that its Thunderbird mineral sands project, in Western Australia, is now fully permitted for development. The Australian government’s Department of the Environment and Energy has granted environmental approval for... 

Western Australia mineral sands project now fully permitted

Energy Fuels to start vanadium production in November

By: Marleny Arnoldi     28th September 2018 NYSE- and TSX-listed Energy Fuels expects to resume vanadium production at its White Mesa mill, in Utah, in mid-November, with saleable vanadium oxide ready by the end of December. When production starts, Energy Fuels will be the newest vanadium producer worldwide and the only primary producer... 

Azumah grows Ghana project’s mineral resources to 2.5Moz

By: Marleny Arnoldi     28th September 2018 ASX-listed gold developer Azumah Resources has increased the combined mineral resource of its Wa gold project by 21%, or 433 900 oz, to 2.5-million ounces, adding to the expectations for attractive financial metrics for the Ghana project. Azumah will update the ore reserves and financial metrics... 

GBM to buy project near Mt Coolon

By: Creamer Media Reporter      28th September 2018 Precious metals miner GBM Resources could potentially double the resource base of its flagship Mt Coolon gold project, with the acquisition of the Twin Hills gold project, about 90 km away. GBM has signed a binding sale and purchase agreement with mid-tier miner Minjar Gold to acquire the... 

Volt says Bunya licences recommended for approval

By: Creamer Media Reporter      28th September 2018 The Tanzania Ministry of Minerals has recommended the two mining licence applications covering the Bunya graphite project for approval, ASX-listed Volt Resources reported on Friday. The two mining licence applications cover the footprint for the Stage 1 and Stage 2 developments at Bunya. 

Albemarle eyes future as pure-play lithium market leader

By: Reuters     28th September 2018 Albemarle Corp, the world's largest lithium producer, aims to eventually end its dependence on two smaller units to fund growth as global appetite surges for electric-powered vehicles and consumer goods, its chief executive said in an interview. Tesla and other automakers have helped make... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine

By: Mariaan Webb     28th September 2018 The New Ingerbelle property, located about one kilometre from the Copper Mountain mine, in southern British Columbia, is a strong candidate to be incorporated into the current mine’s plan aimed at increasing yearly production. The New Ingerbelle deposit is expected to produce 768-million pounds... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine
The Copper Mountain mine, near Princeton, British Columbia.

Congo State miner warns Randgold on transfer of Kibali mine to Barrick

By: Reuters     28th September 2018 Congo's State miner Sokimo warned Randgold Resources on Friday that Sokimo would "assert its rights" in Barrick Gold Corp's acquisition of Rangold's stake in the Kibali project under a takeover deal, but Sokimo did not clarify its plans. Canada's Barrick Gold agreed to buy Randgold Resources Ltd... 

Foreign-backed miner hopes to begin Chilean lithium project in 2020

By: Reuters     28th September 2018 Foreign-backed Salar Blanco expects to begin construction on its lithium mining project at the beginning of 2020 in Chile's north, once its environmental permit is approved by the government. The approval process for the necessary environmental permit for the initiative, which includes an... 

Transnet head Gama given notice of termination, board confirms

By: News24Wire      28th September 2018 The Transnet Board has confirmed Transnet group chief executive Siyabonga Gama was given notice of termination, with ten days to justify why he should not be axed. In a statement, the Board said it had on Thursday served Gama with a letter explaining its decision, citing "serious violations" of... 

Transnet head Gama given notice of termination, board confirms
Photo by Dylan Slater
Siyabonga Gama

Post-Mugabe policies raising expectations for Zim platinum-sector growth

By: Nadine James     28th September 2018 Amid Zimbabwe’s policy changes after former President Robert Mugabe’s removal in November 2017 and the subsequent air of expectation, the country’s platinum sector is poised for positive growth, if not for the challenges presented by the depressed global platinum market.  The Zimbabwe Geological... 

Post-Mugabe policies raising expectations for Zim platinum-sector growth

Local strides to hydrogen economy tempered by cost, industrialisation questions

By: Schalk Burger     27th September 2018 The use of platinum group metals-based fuel cells in electricity and mobility applications is expected to provide ample commercial opportunities for South Africa, in line with worldwide trends to decarbonise electricity generation and transport. However, the high cost of these technologies,... 

MC Mining eyeing acquisition, project access, SEZ 

By: Martin Creamer     27th September 2018 Coal exploration, development and mining company MC Mining, which has painstakingly removed many obstacles in its path in the last five years, is targeting the acquisition of a second suitable operational coal mine in the mould of the cash-generative Uitkomst, taking strong steps to secure access... 

MC Mining eyeing acquisition, project access, SEZ
MC Mining CEO David Brown interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Dylan Slater

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