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Mining News

Victoria seeks to unlock more affordable gas for residents

By: Esmarie Swanepoel     8th June 2018 The Victorian government is hoping to unlock more gas supply to provide residents in the state with greater access to affordable gas. The state government on Friday announced that the Victorian Gas Programme (VGP) will be encouraging new commercial offshore gas exploration through the release of... 

Callinex files technical report for updated resource estimate at the Nash Creek project

By: Anine Kilian     8th June 2018 Canadian zinc miner Callinex has filed an updated technical report for its 100% owned Nash Creek project, in New Brunswick, outlining a major increase in contained zinc, lead and silver mineralisation within indicated and inferred categories. A 2018 maiden preliminary economic assessment (PEA) on... 

TerraCom secures more offtake for Blair Athol

By: Esmarie Swanepoel     8th June 2018 ASX-listed junior TerraCom has secured coal offtake from its Blair Athol mine, in Queensland, for the June quarter. The company said on Friday that the coal sales volumes and prices for the June quarter were in line with forecast, which would ensure that TerraCom completed the financial year... 

Bannerman raises A$8m for Etango

By: Esmarie Swanepoel     8th June 2018 Uranium developer Bannerman resources will raise A$8-million through the placement of more than 173.9-million shares to institutional and sophisticated investors. The placement will be priced at 4.6c a share, representing a 9.2% discount to the company’s ten-day volume weighted average price. 

Sandfire to buy Talisman’s stake in Springfield JV for A$72.3m

By: Esmarie Swanepoel     8th June 2018 Copper miner Sandfire Resources has struck an agreement with joint venture (JV) partner Talisman Mining to acquire its 30% interest in the Springfield JV. Under the terms of the agreement, Talisman will receive A$72.3-million in cash in return for its subsidiary Talisman A, which holds the... 

Sandfire to buy Talisman’s stake in Springfield JV for A$72.3m

MinRes amendments to Atlas offer opens door for ‘discussions’ with other parties

By: Esmarie Swanepoel     8th June 2018 Takeover target Atlas Iron on Friday confirmed that suitor Mineral Resources (MinRes) had amended certain clauses in the takeover offer, dropping the no-shop, no-talk and no due diligence clauses. Atlas told shareholders that the amendments to the offer allowed the company to explore... 

Infinity expands plans for Spanish project

By: Esmarie Swanepoel     8th June 2018 A technical option study at the San Jose lithium project, in Spain, has found that the project was amenable to produce battery-grade lithium hydroxide, in addition to the battery grade lithium carbonate already planned. ASX-listed Infinity Lithium said on Friday that the study was conducted in... 

MinRes infrastructure project progresses

By: Esmarie Swanepoel     8th June 2018 ASX-listed Mineral Resources (MinRes) was expecting a State Agreement for its planned Pilbara infrastructure project before the end of the year. The company on Friday said that it was currently in negotiations with the Department of Jobs, Tourism, Science and Innovation on the terms of the State... 

Venezuelan oil crisis threatens to turn ONGC Videsh asset

By: Ajoy K Das     8th June 2018 India’s ONGC Videsh’s, the overseas arm of national oil exploration and production (E&P) major ONGC Limited, hopes of recovering $450-million of past dues has receded into uncertainty. ONGC Videsh holds a 40% stake in San Cristobel oilfields, in Venezuela, but is yet to receive a dividend payout... 

Unpacking the Junior Indaba 

8th June 2018 The Junior Indaba kicked off in Johannesburg this week. Mining weekly Editor Martin Creamer attended and unpacks the event’s headlines. 

Unpacking the Junior Indaba
Unpacking the Junior Indaba

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism 

By: Henry Lazenby     8th June 2018 The lithium price might be in for a rough ride this year, as a supply response might overshoot what the market actually needs, London-based pricing intelligence firm Metal Bulletin’s head of research William Adams tells Mining Weekly in an interview. “We see a slight lithium surplus coming this... 

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism

De Beers concludes R600m transport empowerment deal at Venetia diamond mine 

By: Martin Creamer     8th June 2018 Diamond-mining company De Beers Consolidated Mines (DBCM) has concluded the process of selecting six local black economic empowerment (BEE) partners as part of an impressive R600-million-to-R700-million, eight-year transport empowerment initiative at the Venetia diamond mine in South Africa’s... 

De Beers concludes R600m transport empowerment deal  at Venetia diamond mine
De Beers Consolidated Mines Senior Manager for Enterprise and Supplier Development Gregory Petersen spoke to Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video & Video Editing: Nicholas Boyd.

Reinstatement of Eskom system reports seen as way to rebuild trust through transparency

By: Terence Creamer     7th June 2018 State-owned electricity producer Eskom has re-launched its weekly system status report as part of broader efforts to rebuild trust with South African citizens, who remain skeptical about the utility’s ability to keep the lights on. The service, which is now available on Eskom’s website, was... 

Reinstatement of Eskom system reports seen as way to rebuild trust through transparency
Photo by Dylan Slater
Eskom system operator Bernard Magoro

Workers call for total shutdown of Eskom amid wage negotiations deadlock 

By: African News Agency      7th June 2018 The National Union of Mineworkers (NUM) on Thursday called for a total shutdown of South African state-owned power utility, Eskom, following another collapse in wage negotiations.  Eskom workers are demanding a 15% wage increase across the board in a one-year agreement, 80:20 percent contribution... 

Mantashe says dept paying attention to seismicity to avoid fatalities

By: African News Agency      7th June 2018 Mineral Resources Minister Gwede Mantashe said on Thursday that the death-toll increase in mining accidents was a serious concern, adding that the department's Council for Geoscience (CGS) and other stakeholders were paying special attention into seismicity.  Since the beginning of 2018, a total... 

Russian diamond miner announces auctions and award of high sustainability ranking

By: Rebecca Campbell     7th June 2018 Russian diamond mining major Alrosa announced on Thursday that it would hold auctions in Hong Kong and Vladivostok for large rough diamonds. The Hong Kong auction will start on June 13 and will run until June 27. The Vladivostok auction would start on June 18 and conclude on June 29. In both... 

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

No let up on calls for flow-through model to boost exploration
Photo by Wynand van der Merwe
JSE business development manager Patrycja Kula-Verster

SA has eight year backlog in issuing of mining rights – Mantashe

By: African News Agency      7th June 2018 Minister of Mineral Resources Gwede Mantashe said on Thursday that the country has a backlog of about eight years in issuing of mining rights as proper processing of applications for mining licences has stalled over the years.  "A preliminary internal investigation shows that the backlog on new... 

SA has eight year backlog in issuing of mining rights – Mantashe
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

Eskom to approach courts to have Nersa’s 5.23% tariff decision set aside 

By: Terence Creamer     7th June 2018 State-owned electricity utility Eskom will, in the coming days, approach the courts to have the National Energy Regulator of South Africa’s (Nersa’s) tariff determination for 2018/19 set aside, chairperson Jabu Mabuza confirmed on Thursday. The action would represent Eskom’s first-ever legal... 

Eskom to approach courts to have Nersa’s 5.23% tariff decision set aside
Public Enterprises Minister Pravin Gordhan on Eskom's restructuring, 'Gupta-risation' of coal and improving primary-energy security and costs. Camera Work & Editing: Nicholas Boyd: Recorded: 7.6.2018

Sibanye CEO says seismic events a fact of life for South Africa mines

By: Reuters     7th June 2018 Earthquakes such as the one in which seven miners died last month in South Africa are impossible to predict and a fact of life for deep level operations there, the chief executive of the mine's owner Sibanye-Stillwater said on Thursday. Precious metals producer Sibanye has been the object of... 

Altus starts exploration at Côte d'Ivoire project

By: Creamer Media Reporter      7th June 2018 Aim- and TSX-V-listed Altus Strategies has started exploration at its 369.5 km2 Prikro gold project, in eastern Côte d'Ivoire. "Prikro is an exciting gold project located in an emerging gold province in eastern Côte d'Ivoire. The licence targets Birimian age metasedimentary belts that are... 

Jubilee sets another operational record

By: Anine Kilian     7th June 2018 Dual-listed Jubilee Platinum’s North West-based Hernic project achieved record production of 2 101 oz of platinum-group metals (PGMs) in May, a 12% increase on the previous record. The company has already produced 3 972 oz of PGMs in the second quarter, with a target of 6 000 oz for the full... 

Launch of Tanzanian mining commission to benefit Kibaran

By: Anine Kilian     7th June 2018 The Tanzanian Department of Minerals has formally launched the Mining Commission, which will be responsible for administering the minerals sector in that country. The commission has started a process of issuing some 7 000 mineral licences that had been pending after the Tanzanian government... 

Congo mining regulations to be signed into law on Friday – mines minister

By: Reuters     7th June 2018 Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the... 

Rio Tinto inks exploration agreement with China's Minmetals

By: Reuters     7th June 2018 Global miner Rio Tinto inked a joint venture agreement with China Minmetals Corp on Thursday, as the companies look to explore mineral deposits in China. The 50:50 joint venture with State-owned Minmetals follows a technical agreement signed in November when both parties committed to a... 

Rio Tinto inks exploration agreement with China's Minmetals
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastien Jacques

Botswana Diamonds to buy BCL's stake in exploration project

By: Reuters     7th June 2018 Botswana Diamonds (BoD) wants to buy liquidated BCL Mine's shares in a diamonds exploration joint venture project, its managing director said on Thursday. BCL mine group, which has been under liquidation since 2016, is selling its 51% stake in Maibwe Diamonds for an undisclosed amount. 

World Diamond Council’s System of Warranties open for public review

By: Anine Kilian     7th June 2018 The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review. The SoW review and reform process is part of the WDC’s strategic plan and is intended to help industry participants better implement and demonstrate their... 

Platinum price set for recovery this year – survey

By: Anine Kilian     7th June 2018 The platinum price is expected to exceed $1 000/oz in the second half of this year. “We expect the platinum price will start a recovery this year, albeit a gradual one. This is predicated on a small deficit this year, of nearly 300 000 oz, fuelled by a contraction in supply, chiefly from the... 

Platinum price set for recovery this year – survey

Russia's Polyus to decide on Sukhoi Log gold mine by 2020/21

By: Reuters     7th June 2018 Russian gold miner Polyus said on Thursday it planned to make a final investment decision on Sukhoi Log, one of the world's largest untapped gold deposits, by 2020/21, when it would also begin capital spending on construction. Should a positive investment decision be made, production would start... 

Russia's Polyus to decide on Sukhoi Log gold mine by 2020/21
Photo by Reuters
Polyus CEO Pavel Grachev

WGC sees an upturn in China's jewellery demand

By: Esmarie Swanepoel     7th June 2018 China’s jewellery market has turned a corner, which could result in an upturn in global gold demand and gold’s long-term performance, the World Gold Council (WGC) said on Thursday. China’s demand for gold jewellery more than tripled over the past 15 years, as the economy expanded and personal... 

Artisanal mining should be legalised – analyst  

By: Anine Kilian     7th June 2018 As industrial mining for gold declines, artisanal mining for gold in abandoned, ownerless and derelict mines will increase, making way for artisanal miners to mine abandoned shafts, says mining analyst David van Wyk. Addressing delegates during a mining seminar at Sustainability Week 2018, in... 

Oz declares Avanco offer unconditional

By: Esmarie Swanepoel     7th June 2018 Copper/gold miner Oz Minerals has declared its takeover offer for fellow listed Avanco Resources unconditional. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Eastplats files civil claims notices against former directors, other parties

By: Anine Kilian     7th June 2018 JSE-listed Eastern Platinum (Eastplats), together with Eastplats Acquisition and Eastern Platinum Holdings, has filed notices of civil claims related to two separate actions in the British Columbia Supreme Court. The first claim is brought against Serina Services and Ingwenya Incorporated in... 

Kimberley's illegal miners to get mining permits

By: African News Agency      7th June 2018 Hundreds of artisanal and illegal miners in Kimberley in the Northern Cape will on Thursday receive mining permits from the Department of Mineral Resources.  Deputy minister of mineral resources Godfrey Oliphant will hand over two mining permits to artisanal miners, also known as Zama Zamas, in... 

Matsa's Red Dog gets approved

By: Esmarie Swanepoel     7th June 2018 ASX-listed Matsa Resources has received mining approvals for its Red Dog gold project, in Western Australia. Matsa said on Thursday that all regulatory approvals had now been received for the project, allowing mining to start. 

Empire readies for court battle

By: Esmarie Swanepoel     7th June 2018 Junior gold miner Empire Resources is seeking legal assistance in its dealings with joint venture (JV) partner Brimstone Resources. Brimstone, which holds a 40% interest in the Penny’s Find project, has sought an injunction from the Supreme Court of Western Australia to prevent Empire from... 

GLNG ships milestone cargo

7th June 2018 The Gladstone liquefied natural gas (GLNG) project has shipped its 200th LNG cargo from Curtis Island to Korea. “For the next two decades, the International Energy Agency expects natural gas to grow more than any other energy type, to a market share of more than a quarter of all global energy... 

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