R/€ = 14.35 Change: -0.01
R/$ = 11.69 Change: -0.01
Au 1324.24 $/oz Change: -4.15
Pt 989.50 $/oz Change: -7.01

Mining News

Mining Charter should be withdrawn – Frans Baleni

By: Martin Creamer     7th February 2018 In the spirit of meaningful dialogue, the Mining Charter should be withdrawn and all key stakeholders must have a serious dialogue about the future of a sustainable mining industry in South Africa, Mining Indaba advisory board member and former leading mining trade unionist Frans Baleni said on... 

Paladin on track to relist on the ASX

By: Anine Kilian     7th February 2018 Uranium miner Paladin Energy on Wednesday said it had not received an appraisal notice from China National Nuclear Corporation (CNNC) Overseas Uranium Holdings (COUH), regarding the purchase of Paladin’s share in Langer Heinrich Mauritius (LHMHL), the holding company of the Langer Heinrich mine,... 

India's top court cancels iron-ore mining permits in Goa – petitioners

By: Reuters     7th February 2018 India's Supreme Court has quashed all iron ore mining permits in Goa, one of the country's top producing states for the steel making raw material, an environmental group that petitioned the government to halt the mining said on Wednesday. Mining in the southwestern state of Goa, which produces... 

Indian govt-owned thermal power companies allowed to swap coal

By: Ajoy K Das     7th February 2018 To ensure optimal use of coal blocks allocated to government-owned thermal power companies, the Indian government will now allow swapping of coal between two such companies. The swap will be permitted between two government thermal companies on condition that both have been allocated coal blocks... 

Putin to discuss environment with Russian metals tycoons

By: Reuters     7th February 2018 Russian President Vladimir Putin will meet metals tycoons whose businesses are located in the region of Krasnoyarsk, which the President is visiting today, to discuss local residents' ecological concerns, the Kremlin said on Wednesday. Putin will meet with billionaire Vladimir Potanin, co-owner... 

Board and management changes announced at Plymouth

By: Mariaan Webb     7th February 2018 Lithium-focused Plymouth Minerals on Wednesday announced board and management changes as part of its continued focus to advance the San Jose lithium/tin project, in Spain. Plymouth, which plans to change its name to Infinity Lithium, said it had strengthened its executive team with the... 

Cougar secures cobalt project in Chile

By: Creamer Media Reporter      7th February 2018 ASX-listed Cougar Metals has secured a cobalt exploration project in Chile, which executive chairperson Randal Swick said on Wednesday was considered a complementary opportunity to its lithium prospect in Brazil. Cougar has signed a letter of intent (LOI) with Antasitua Chile to acquire a 100%... 

Zimbabwe touts lithium, gold, diamonds potential at mining conference

By: African News Agency      7th February 2018 Zimbabwe's mineral resources have a huge potential to drive the economy in the future, with lithium, gold and diamonds seen leading the way, its mines minister Winston Chitando said. In a presentation to an annual conference on investing in African mining, running from February 5 to 8 in Cape... 

Australia’s coal exports set new record in 2017

By: Natasha Odendaal     7th February 2018 Australia’s coal exports value reached a new record of $56.5-billion in 2017, Minerals Council of Australia coal executive director Greg Evans said on Wednesday. The new coal export value record, at 35% higher than in 2016 and $10-billion higher than the previous record of $46.7-billion in 2011,... 

Rio Tinto returns $9.7bn to shareholders in 2017

By: Natasha Odendaal     7th February 2018 Mining major Rio Tinto has delivered record full-year ordinary dividends of $5.2-billion, equating to 290c a share, and bringing total cash returns to shareholders for the year ended December 31, 2017, to $9.7-billion. The company posted an operating cash flow of $13.9-billion, underlying... 

Rio Tinto returns $9.7bn to shareholders in 2017
Rio Tinto CEO Jean-Sebastien Jacques

Two miners killed in fall-of-ground at Sibanye’s Kloof mine

By: Schalk Burger     7th February 2018 The bodies of two miners have been recovered from the Ikamva 4 shaft at precious metals producer Sibanye-Stillwater’s Kloof gold mine. The miners became trapped after a fall-of-ground incident at 01:30 on Wednesday morning. The company extended condolences to the miners’ families, friends and... 

Nyrstar requests arbitration over legacy contracts with Century zinc mine

By: Mariaan Webb     7th February 2018 Australian base metals company New Century has slammed Belgium-headquartered Nyrstar’s request for arbitration regarding legacy contracts to purchase zinc concentrate from the Century mine, north-west Queensland, and said Wednesday that it had instructed international arbitration firm Clifford... 

St Barbara forward sells 90 000 oz at A$1 750/oz

By: Creamer Media Reporter      7th February 2018 Gold mining company St Barbara has entered into 90 000 oz of forward gold contracts to be delivered in monthly instalments from July 2018 to December 2019 at a price of A$1 750/oz. The forward contracts seek to secure a reliable cash margin on a portion of the Simberi mine's anticipated future... 

St Barbara forward sells 90 000 oz at A$1 750/oz
The Simberi mine, in Papua New Guinea.

Nutrien closing in on selling stakes in SQM, Arab Potash Co – CEO

By: Reuters     7th February 2018 Canadian fertiliser and farm supply dealer Nutrien is actively dealing with prospective buyers of its stakes in lithium producer SQM and Arab Potash Co, its chief executive said on Tuesday. Nutrien is selling minority stakes in those companies as part of pledges to regulators who approved this... 

Freeport-McMoRan reinstates quarterly dividend

By: Henry Lazenby     7th February 2018 The world's largest publicly listed copper producer Freeport-McMoRan has reinstated a cash dividend of $0.05 on its common stock, citing an improved balance sheet, stronger market conditions and a positive outlook for cash flow generation. That would add up to a yearly dividend of $0.20 a share,... 

Advantage Lithium stock gains 11% on positive pump-flow tests

By: Henry Lazenby     7th February 2018 The TSX-V-listed equity of lithium explorer Advantage Lithium gained more than 11% on Tuesday, after the company released the positive results of recent drilling and pump tests on the flagship Cauchari lithium brine joint venture (JV), in Argentina. The latest exploration results include the... 

Advantage Lithium stock gains 11% on positive pump-flow tests
Photo by Advantage Lithium
Advantage Lithium's Cauchari lithium-brine JV project, in Argentina

Barrick to book $429-million Q4 charge on mired Pascua-Lama

By: Henry Lazenby     7th February 2018 Major miner Barrick Gold expects to book a pre-tax impairment in the fourth quarter ended December 31 of about $429-million at its stalled Pascua-Lama copper/gold project, which straddles the border between Chile and Argentina. The NYSE- and TSX-listed company advised that it is reclassifying... 

Lithium Chile expands Helados lithium brine property

By: Henry Lazenby     7th February 2018 Junior explorer Lithium Chile has added a further 5 900 ha of prospective land to its Helados lithium brine property, where near-surface brine samples have assayed up to 1 280 mg/ℓ lithium. In a news release on Tuesday, Lithium Chile stated that near-surface brine sample lithium assays from this... 

Increasing demand is platinum solution – Amplats

By: Martin Creamer     6th February 2018 Platinum group metals (PGMs) react positively to the amount of money spent on marketing, in a similar way to diamonds, Anglo American Platinum CEO Chris Griffith said on Tuesday. Speaking during a panel discussion on day two of the Mining Indaba, Griffith said PGMs were unlike copper, coal or... 

Increasing demand is platinum solution – Amplats

US Army Corps of Engineers selects third-party contractor to complete Pebble EIA

By: Henry Lazenby     6th February 2018 The TSX-listed equity of copper/gold project proponent Northern Dynasty Minerals gained about 11% on Tuesday, after the US Army Corps of Engineers (USACE) announced that it had appointed a third-party contractor to undertake an environmental-impact assessment for the controversial Pebble project,... 

US Army Corps of Engineers selects third-party contractor to complete Pebble EIA
Photo by Northern Dynasty Minerals
An environmental assessment is underway on Northern Dynsaty Minerals' Pebble low-grade copper/gold project, in South-West Alaska

Many big new copper mines likely to be needed – Anglo

By: Martin Creamer     6th February 2018 Based on two relatively moderate and reasonable growth assumptions, the world will need the equivalent of another 22 Collahuasi copper mines to meet expected copper demand by 2030, Anglo American base metals marketing head Alex Schmitt said on Tuesday. Collahuasi, which Schmitt described as the... 

Many big new copper mines likely to be needed – Anglo
Photo by Martin Creamer
Anglo American base metals marketing head Alex Schmitt

Investment poised to increase in Chile – central bank survey

By: Reuters     6th February 2018 Chile's economy is poised to improve by mid-year as rebounding copper prices and President-elect Sebastian Pinera's promise of business-friendly policies increase optimism among investors, according to a central bank survey released on Tuesday. The study, which surveyed the perceptions of more... 

Tahoe joins UNGC corporate sustainability initiative

By: Henry Lazenby     6th February 2018 Precious metals miner Tahoe Resources has signed the United Nations Global Compact (UNGC), the world's largest corporate sustainability initiative. As an official participant of the UNGC, Tahoe joins other international businesses, including a number of industry-leading mining companies, in... 

Tahoe joins UNGC corporate sustainability initiative
Photo by Tahoe Resources
The Escobal mine is the world's third-largest silver mine

2018 presents best prospects in a decade for African mining – Standard Bank

By: Anine Kilian     6th February 2018 Sustained commodity price growth and reduced costs are likely to present Africa’s mining sector with the best prospects in over a decade. “The centrality of mining to the development of the continent means that 2018 is likely to be a watershed year in Africa’s ongoing growth story,” Standard Bank... 

Master Drilling unveils novel mobile tunnel boring system at Indaba

By: Mia Breytenbach     6th February 2018 JSE-listed Master Drilling has launched its new South African-developed mobile tunnel boring system, which is suitable for the excavation of various types of tunnels. Master Drilling executive director Koos Jordaan explained at the unveiling of the system at the Investing in African Mining... 

Bacanora appoints CFO and new board member

By: Creamer Media Reporter      6th February 2018 London- and Canada-listed lithium company Bacanora Minerals has appointed former Gemfields finance chief Janet Boyce as its CFO with immediate effect. Boyce is replacing Derek Batorowski, who is stepping down to pursue other business interests. Batarowski will continue to serve as Bacanora... 

Zambia sees 1.5Mt copper output on improved power, easing tensions

By: African News Agency      6th February 2018 Zambia expects to increase its annual copper output to 1.5-million tonnes, boosted by improved electricity supply and eased tensions with producers over policy, mines minister Christopher Yaluma said on Tuesday. "The outlook for Zambian mining looks very very positive," he told the African News... 

'Quarteritis’ damaging gold mining – Bristow

By: Martin Creamer     6th February 2018 ‘Quarteritis’ – short-term thinking in a long-term business – is terribly damaging, Randgold Resources CEO Dr Mark Bristow said on Tuesday. Speaking on day-two of the Mining Indaba, Bristow advocated an holistic approach to the mining of gold orebodies and bringing to an end the practice of high... 

'Quarteritis’ damaging gold mining – Bristow
Photo by Martin Creamer
Randgold Resources CEO Dr Mark Bristow

Chinese State-owned energy companies to form coal, power trading JV

By: Reuters     6th February 2018 Six Chinese State-owned energy companies will form a joint venture to trade coal and electricity and invest in an electric transmission system to better connect Shanxi and Jiangsu provinces. The announcement follows the Chinese government's plans to streamline its state-owned coal industry by... 

Stronger rand, PGM sales lift Amplats' FY17 earnings

By: Megan van Wyngaardt     6th February 2018 Anglo American Platinum (Amplats) expects headline earnings and headline earnings per share (HEPS) for the year ended December 31, 2017, to be at least R373-million or 143c apiece, higher than for the 2016 financial year. Basic earnings and basic earnings a share (EPS) were also expected to be at... 

DRDGold provides profit guidance for WRTRP

By: Megan van Wyngaardt     6th February 2018 Dual-listed DRDGold on Tuesday said it expects the West Rand tailings retreatment project (WRTRP) to generate a profit of R229.4-million for the 12 months ending December 31, 2019. The company is in the process of acquiring the project from fellow gold and platinum miner Sibanye-Stillwater. 

Anglo Asian plans higher production this year

By: Creamer Media Reporter      6th February 2018 Azerbaijan-focused gold, copper and silver miner Anglo Asian is forecasting higher production for 2018, on the back of last year’s optimisation initiatives at the Gedabek mine and the continuation of production from the Ugur openpit and Gadir underground mines. The Gedabek main openpit will also... 

Jubilee exercises 40% Kabwe option

By: Natasha Odendaal     6th February 2018 AltX- and Aim-listed Jubilee Metals Group intends to exercise its option to earn a 40% interest in BMR Group’s Kabwe lead/zinc project, in Zambia, after a comprehensive technical, financial and legal due diligence. This increases Jubilee’s effective interest in the Kabwe project to 57.41%,... 

Iron-ore exports to China from Australia's Port Hedland fall to six-month low

By: Reuters     6th February 2018 Iron-ore shipments to China in January from Australia's Port Hedland terminal fell 11.3% from a month ago to 34.7-million tonnes, their lowest since July, port data released on Tuesday showed. That compares with 39.1-million tonnes in December. January imports were 0.6% higher than a year ago,... 

S2 identifies gold/silver zones at Storgroven, Sweden

By: Megan van Wyngaardt     6th February 2018 Base of till drilling at the Storgroven target, which forms part of ASX-listed S2 Resources' Skellefte project, in Sweden, has identified two adjacent zones of gold/silver mineralisation, with seven holes ending in mineralisation greater than 1g/t gold and 20 g/t silver. The programme saw 115... 

Highland Gold updates Kekura resource as DFS is completed

By: Megan van Wyngaardt     6th February 2018 Aim-listed Highland Gold Mining has updated its resources for the Kekura gold project, located in the Chukotka region in Russia's Far East, following the completion of a definitive feasibility study (DFS). The DFS has shown that the project holds total gold reserves of two-million ounces of a... 

Coal opponents prepare for yet another court battle over Thabametsi power project

By: Terence Creamer     6th February 2018 Civil society organisations opposing the development of new coal-fired power generation capacity in South Africa say they will again approach the courts to challenge the latest environmental authorisation granted for the 557 MW Thabametsi coal-fired power station project, proposed for development... 

Coal opponents prepare for yet another court battle over Thabametsi power project

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