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Kefi gets approval for further exploration in Ethiopia

By: Anine Kilian     Updated 1 hour 6 minutes ago Aim-listed Kefi Minerals has received confirmation from the Ethiopian Ministry of Mines, Petroleum and Natural Gas that its proposals for further exploration in the Tulu Kapi district area will be granted when development starts on its Tulu Kapi project. The relevant exploration licence... 

Afrox presents Harvey Shacklock Gold Medal Award in honour of founding CEO

     Updated 4 hours ago In celebration of 90 years in the gases and welding industry and in honour of Afrox’s founding CEO, Afrox presented the prestigious Harvey Shacklock Gold Medal Award at the 69th annual SAIW dinner held on 20 October at Emperor’s Palace in Johannesburg. The award is significant to Afrox as it was... 

Tanzania President names tax expert as central bank governor

By: Reuters     Updated 4 hours ago Tanzania's new central bank governor will be tax law professor Florens Luoga, the country's President said on Monday. President John Magufuli said Luoga would take over in December or January after the tenure of current governor Benno Ndulu expires. 

Tomra Sorting Recycling Hosts Global Conference To Share Insights Into The Industry’s Future Challenges

     Updated 5 hours ago Two-day event brings together industry experts, customers and media to examine ideas for the future and groundbreaking technologies for today. TOMRA Sorting Recycling hosted a global conference on October 10th and 11th to share insights from leading experts in recycling and waste management and... 

Southern Copper says Q3 profit doubled, expects Tia Maria permit

By: Reuters     Updated 7 hours ago Southern Copper Corp said on Friday that its net profit doubled to $401.8 million in the third quarter from the same period a year earlier as sales surged on higher copper prices. The Arizona-based company, controlled by Grupo Mexico , added that it expects Peru's government to issue a... 

Radio Hill refurbishment starts

By: Esmarie Swanepoel     23rd October 2017 Junior Artemis Resources has started the refurbishment of its newly acquired Radio Hill processing plant, in Western Australia. In addition to upgrading the crushing, grinding and flotation circuits, Artemis will also install a new high recovery gold circuit capable of processing 500 000 t/y. 

SKF Zambia kicks off on a high Rugby 7’s note

     20th October 2017 The first weekend of August 2017 saw the community of the Zambian Copperbelt mining town, Mufulira, bristling with excitement as they welcomed the Mufulira Sevens Rugby Tournament. SKF Zambia was delighted to join forces with Mopani Copper Mines in hosting this prestigious Seven-a-Side Rugby... 

Acacia seeks further clarification on Barrick’s agreement with Tanzania govt

By: Creamer Media Reporter      20th October 2017 LSE-listed Acacia Mining is seeking further clarification from its parent company Barrick Gold, which owns 63.9% of Acacia, regarding the agreement that was reached between Barrick and the government of Tanzania on Thursday to resolve a tax dispute. The government and Barrick in July started... 

Rio is said to hold talks with Indonesia on Grasberg mine exit

By: Bloomberg     20th October 2017 Rio Tinto Group has held talks with Indonesian groups, including State-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio held meetings in recent weeks,... 

Barclays sued by fund for $850m for copper market abuse

By: Bloomberg     20th October 2017 Red Kite Management, the world’s largest metals hedge fund, is suing Barclays Plc for alleged market abuse in the copper market that it claims cost the firm at least $850-million between 2010 and 2013. The case pits a $2-billion hedge fund against a bank that has been hit by a number of scandals... 

Atlas Iron turns cash positive as turnaround bears fruit

By: Esmarie Swanepoel     20th October 2017 Iron-ore miner Atlas Iron on Friday announced that it had become net cash positive following the end of the September quarter with some A$93-million cash on hand and a further A$21-million in its reserve account. MD Cliff Lawrenson told shareholders that the transition to a net cash status... 

Teck concludes acquisition of Goldcorp’s 21% minority share in San Nicolas

By: Samantha Herbst     19th October 2017 TSX- and NYSE-listed senior gold producer Goldcorp has completed the $50-million sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico to Canadian diversified miner Teck Resources. The closing follows receipt of Mexican anti-trust approval and the... 

China's Jiangxi Copper has plans for M&A in Africa – chairperson

By: Reuters     19th October 2017 State-owned China metals firm Jiangxi Copper plans to make an acquisition in mineral-rich Africa, president and chairperson Long Ziping said, as the country's top integrated copper producer aims to step up overseas expansion. Long, appointed chairperson last month, didn't identify potential... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

Chile's Cochilco boosts copper forecast to near $3/lb in 2018

By: Reuters     19th October 2017 Chile State copper commission Cochilco forecasted on Wednesday an average global copper price of $2.95/lb in 2018, a sharp upward revision from its mid-year estimate of $2.68, due to greater demand in China, a key market. For 2017, it predicted an average copper price of $2.77/lb, markedly higher... 

Sandfire holds steady in September quarter

By: Esmarie Swanepoel     19th October 2017 Copper/gold miner Sandfire Resources has reported a slight decline in copper production for the three months to September, compared with the June quarter, following planned maintenance shutdowns at its DeGrussa mill, in Western Australia. Copper production for the quarter under review reached 15... 

Sheffield to spin-out gold and base metal assets

By: Esmarie Swanepoel     19th October 2017 Mineral sands developer Sheffield Resources has announced plans to demerge its gold and base metals assets into an ASX-listed company. The assets, which are currently held by subsidiary Carawine Resources, include the Jamieson gold-copper-silver-zinc project, in Victoria, and the Oakover and... 

Dugald River zinc project likely to come in 8% under budget – MMG

By: Esmarie Swanepoel     19th October 2017 Metals miner MMG on Thursday reported that its Dugald River zinc project, in Queensland, was likely to come in under budget. The company told shareholders that total capital costs to completion was now expected to be between $550-million to $570-million, compared with a previous guidance of... 

Altus secures new exploration licence in Ethiopia

By: Creamer Media Reporter      18th October 2017 Aim-listed Altus Strategies has been granted an exploration licence for the Daro copper/gold project, in northern Ethiopia. The licence covers an area of about 412 km2 and is valid for three years. 

BHP on track for 7% volume growth in FY18; guidance intact

By: Henry Lazenby     18th October 2017 The world’s largest mining house BHP Billiton said on Wednesday it remained on track for a 7% volume growth in the 2018 financial year, leaving its full-year 2018 guidance unaltered. The Melbourne, Australia-based miner reported its operating results for the three months ended September 30,... 

Rio Tinto declares force majeure on copper from US mine

By: Reuters     17th October 2017 Global miner Rio Tinto declared force majeure last Friday on shipments of refined copper from its Kennecott mine, in the US, following the death of a worker, a spokesperson said on Tuesday. There was no timeline for when the force majeure would be lifted, spokesperson Kyle Bennett said. A force... 

thyssenkrupp Service Centre capabilities showcased at Copperbelt Mining & Trade Expo 2017, Zambia

     17th October 2017 thyssenkrupp Service Centre exhibited its product portfolio and capabilities to customers at the Copperbelt Mining and Trade Expo and Conference (CBM-TEC) held from 6 to 8 June 2017 in Kitwe, Zambia.  Hosted exclusively within the Copperbelt, CBM-TEC is Zambia’s professional attendance technical... 

KGHM plays down recent breakdown impact

By: Reuters     17th October 2017 Polish copper producer KGHM Polska Miedz said on Tuesday it expects no big negative impact on sales or core earnings from the recent breakdown of a smelter in the city of Glogow. "We hope that we will be able to recoup some losses," CEO Radoslaw Domagalski-Labedzki told reporters. 

PRASA says it’s on top of security problems

By: News24Wire      17th October 2017 The Passenger Rail Agency of South Africa (PRASA) has responded to the damning letter written by Ernest Hendricks, regional security manager of the Western Cape. In the letter, dated 31 May and addressed to PRASA's head office in Pretoria, Hendricks described problems with the security system,... 

Independence unveils nickel exploration budget for 2018

By: Esmarie Swanepoel     17th October 2017 ASX-listed diversified miner Independence Group will spend nearly 60% of its A$50-million exploration budget in 2018 on the Nova and Fraser Range project area. Independence MD and CEO Peter Bradford told delegates at the Paydirt nickel conference in Perth, on Tuesday, that A$9-million would be... 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance

By: Esmarie Swanepoel     17th October 2017 Diversified major Rio Tinto has reported increased production across its iron-ore and coal assets, but has adjusted its copper output expectations for the full year on the back of delays at the Escondida operation. “The business performed very well in the September quarter, with a strong... 

Peru says over 20 companies interested in $2bn copper project

By: Reuters     17th October 2017 More than 20 companies have expressed an interest in bidding on the $2-billion Peruvian copper project Michiquillay in an auction due to take place on December 20, the Peruvian government said on Monday. The auction date had been pushed back from the originally scheduled November 15, state... 

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Vast Resources reports higher output

By: Creamer Media Reporter      16th October 2017 UK-headquartered Vast Resources on Monday reported stronger operational results from its mines in Romania and Zimbabwe, with third-quarter tonnes mined, milled and copper and gold production outperforming the previous quarter. The Manaila polymetallic mine, in Romania, delivered an “exceptional... 

Polymetal hikes Q3 output by 26%, confirms FY guidance

By: Mariaan Webb     16th October 2017 Russian gold and silver producer Polymetal on Monday reported a 26% increase in its third-quarter gold-equivalent production of 470 000 oz, which is in line with its production plan of 1.4-million ounces for 2017. The third-quarter output included of 370 000 oz of gold, a 38% year-on-year... 

Philippines' Duterte lifts suspension on gold miner Lepanto

By: Reuters     16th October 2017 Philippine President Rodrigo Duterte has lifted an eight-month suspension order on gold miner Lepanto Consolidated Mining Co, among more than two dozen companies ordered halted by a sacked minister who led an environmental crackdown. Lepanto, which also mines copper and silver, was among 26... 

Prominent Hill openpit closure brought forward

By: Esmarie Swanepoel     16th October 2017 Copper/gold miner Oz Minerals will bring forward the closure of its openpit operations at the Prominent Hill mine, in South Australia, from the mid-2018 to the first quarter of the year. About A$10-million will be saved through the accelerated plan, the company reported on Monday, as it released... 

Nzuri publishes feasibility study for DRC copper/cobalt project

By: Esmarie Swanepoel     16th October 2017 A feasibility study (FS) into the Stage 1 development of the Kalongwe oxide copper-cobalt project, in the Democratic Republic of Congo, has estimated that the project would require a capital investment of $53.12-million. The Stage 1 operation will comprise an openpit mine and a one-million tonne... 

US demands regional steel, aluminum in Nafta auto rules

By: Reuters     16th October 2017 The Trump administration is demanding the use of North American-made steel, aluminum, copper and plastic resins in cars and trucks sold under North American Free Trade Agreement rules, as it seeks to give US industry a boost. People briefed on the matter said US negotiators issued the proposal,... 

Zinc price spike sparks flurry of miner listings

By: Reuters     13th October 2017 A doubling in zinc prices since late 2015 and strong outlook for the commodity has fueled a flurry of zinc miner listings on the Toronto Stock Exchange as companies cash in on investor demand for producers of the metal. Brazil-based Nexa Resources, a top five global zinc producer, is seeking to... 

As race for energy metals heats up, nickel expected to benefit most from EV revolution

By: Henry Lazenby     13th October 2017 Nickel prices stand to gain most from the advent of electric vehicles (EVs), Bank of America Merrill Lynch (BofAML) said on Friday in its latest ‘Global Metals Weekly’ report. According to the research team, despite China remaining an important driver of market demand, following on from being the... 

Zambian villagers can sue Vedanta in the UK – London's Court of Appeal

By: Reuters     13th October 2017 Nearly 2 000 Zambian villagers can pursue a claim for damages in English courts for environmental pollution after London's Court of Appeal on Friday rejected an appeal by diversified miner Vedanta. Vedanta Resources and its Zambian subsidiary Konkola Copper Mines had appealed against a ruling in... 

Anglo Asian lifts Q3 gold output as new mine starts producing

By: Mariaan Webb     13th October 2017 Gold/copper/silver miner Anglo Asian on Friday reported a 2 300-oz quarter-on-quarter production increase as the benefits of a strategic review are starting to show and its newest mine – Ugur – starts contributing to output. The new Ugur openpit started production in September and already has... 

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