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Codelco's Q1 output falls, but higher copper price boosts profits

By: Reuters     Updated 4 hours ago Chile's state-run Codelco said on Friday that its copper output in the first quarter slid 11% from a year ago, as ore grades decline at its ageing mines, but an incipient recovery in copper prices boosted its profits. Codelco, the world No 2 copper miner, said output in the three months to... 

Acacia says committee’s findings on its Tanzanian gold exports inaccurate

By: Megan van Wyngaardt     Updated 7 hours ago Tanzania-focused Acacia Mining on Friday said it could not agree with the findings of a report, compiled by a Presidential Committee tasked with investigating the export of gold and copper concentrates. President John Magufuli on Wednesday released the findings of the report and announced that... 

Latest in automation technology goes on show in Johannesburg

     26th May 2017 Advanced automation solutions for every area of process control will go on show at the Africa Automation Fair and Connected Industries conference from 6-8 June 2017 at the Ticketpro Dome in North Riding. Africa Automation Fair and the Connected Industries conference, to be staged alongside... 

Latest in automation technology goes on show in Johannesburg

     26th May 2017 Advanced automation solutions for every area of process control will go on show at the Africa Automation Fair and Connected Industries conference from 6-8 June 2017 at the Ticketpro Dome in North Riding. Africa Automation Fair and the Connected Industries conference, to be staged alongside... 

Angola continues diversification into minerals to curb oil deficits, but progress slow

By: Megan van Wyngaardt     26th May 2017 Angola's continued reliance on the oil sector will result in limited development of its mining sector between now and 2021. However, the country is expected to continue diversifying into minerals in the longer term, as a decline in domestic oil production speeds up government plans to invest in... 

Alba to embark on Amitsoq work programme in June

By: Megan van Wyngaardt     26th May 2017 Greenland-focused graphite miner Alba Mineral Resources has completed its consultation phase with the country’s Mineral and Licensing Safety Authority, allowing it to embark on a work programme at its Amitsoq project. The programme, to take place over June and July, is designed to verify the... 

Avanco on its way to midtier status

By: Esmarie Swanepoel     26th May 2017 A prefeasibility study (PFS) has proven that the Pedra Branca East copper/gold project, in Brazil, could realise project owner Avanco Resources’ ambition of becoming a midtier copper producer. The PFS estimates that the Pedra Branca East project could deliver some 24 000 t/y of copper and 16 000... 

Jogmec starts Parkes earn-in

By: Esmarie Swanepoel     26th May 2017 Junior Magmatic Resources’ joint venture with Japan Oil, Gas and Metals National Corporation (Jogmec) over the Parkes copper-gold project, in New South Wales, has been enacted, with the first exploration spend agreed. Under the terms of the March JV, Jogmec can earn a 51% interest in the two... 

Chilean copper miner Codelco preparing local bond issue – agency

By: Reuters     26th May 2017 Chile's state-run Codelco, one of the world's biggest copper producers, is readying a domestic bond issue that will allow it to refinance its debt and fund investments, a local ratings agency said on Thursday. Codelco was in the process of registering a new debt issue worth some $1.6-billion,... 

Strike impacts Freeport's Grasberg mine, workers 'resigned'

By: Reuters     25th May 2017 Freeport McMoRan said on Thursday that mining and milling rates at its Grasberg copper mine, in Papua, Indonesia, have been affected as some 9 000 workers stage an extended strike, and a "large number" of approximately 4 000 absentee workers were deemed to have resigned. Escalating tensions with... 

Copper miner Atalaya reports ‘strong’ Q1 performance

By: Mariaan Webb     25th May 2017 Spanish copper miner Atalaya Mining produced 8 805 t of copper in concentrate in the first quarter of 2017, which is in line with its output of the previous quarter. The company is one of Europe’s newest copper producers and operates the Proyecto Riotinto openpit mine, where commercial production... 

Orion continues Prieksa drilling programme

By: Megan van Wyngaardt     25th May 2017 ASX-listed Orion Minerals on Thursday said its Prieska zinc-copper project, which it acquired in March, has delivered positive results from its ongoing deep sulphide target drilling programme. Orion is targeting dip and strike extensions to historical underground mining areas at the project, with... 

DTI to reveal list of incentive beneficiaries by end-July

By: Megan van Wyngaardt     25th May 2017 The Department of Trade and Industry (DTI) on Thursday said it would, following a request for information from a number of stakeholders, release a list of beneficiaries across its incentives programmes at the end of July. The list will be made available along with an incentive report that details... 

Anglo Asian returns to profitability

By: Mariaan Webb     25th May 2017 Base and precious metals producer Anglo Asian Mining has returned to profitability, as the company’s production profile is evolving into one in which copper is playing an increasingly significant role. The Aim-listed miner, which has operations in Azerbaijan, doubled its copper production from... 

Savannah aims to tap into European lithium market with 'strategic' Portugal acquisition

By: Mariaan Webb     25th May 2017 Multicommodity company Savannah Resources has announced an agreement to buy a series of highly prospective lithium prospects in Portugal, including an advanced project,as the company seeks to tap into the world’s second-largest lithium market after China. As part of the transaction to buy a 75%... 

Kanmantoo offering Hillgrove more upside

By: Esmarie Swanepoel     25th May 2017 Copper/gold miner Hillgrove Resources has earmarked a number of organic growth opportunities which it will assess later in 2017, including an opportunity for near-mine growth at its Kanmantoo mine, in South Australia. An exploration target of between five-million and ten-million tonnes, with a... 

Teck Resources says does not expect snow melt to materially affect copper mine

By: Reuters     24th May 2017 Canadian miner Teck Resources does not expect a material impact on production at its Highland Valley copper unit because of unusual spring weather earlier in May, a spokesperson said on Wednesday. The Vancouver-based company said on May 7 that rapidly melting snow had caused water to flow into... 

Acacia’s shares fall as Tanzania committee says it under-declared concentrate exports

By: Creamer Media Reporter      24th May 2017 Acacia Mining’s share price on the LSE fell by more than 20% on Wednesday after it reported that a Tanzanian Presidential Committee that was set up to investigate if mining companies are paying their fair share of taxes, had found that the gold miner had not fully declared all minerals contained... 

Coventry and Vista consolidate Alaska projects under new name

By: Esmarie Swanepoel     24th May 2017 ASX-listed Coventry Resources has announced plans to acquire Vista Minerals, with the combined entity to be renamed Polaris Minerals. Vista Minerals holds the Stellar copper/gold project, in Alaska, which is contiguous with Coventry’s own Caribou Dome project, with the company saying on... 

Vedanta hits production high spot at Black Mountain

By: Martin Creamer     24th May 2017 Diversified mining company Vedanta has achieved its highest quarterly production in four years at Black Mountain in South Africa, where the Gamsberg zinc project is on track to begin production towards the middle of next year. In addition, mobilisation on the Skorpion pit layback, in neighbouring... 

Heron awards earthworks contract at Woodlawn

By: Esmarie Swanepoel     24th May 2017 Base metals developer Heron Resources has signed a A$12-million earthworks contract for its Woodlawn copper-zinc project, in New South Wales. The contract with Ertech includes the construction of the main road access from the sealed Collector road, process plant site leveling and foundation... 

Despite production disruptions, copper saw February surplus of 150 000 t

By: Henry Lazenby     24th May 2017 Analysis of the latest data published by the International Copper Study Group (ICSG) showed global surplus copper output of 150 000 t in February, despite disruptions at massive key mines in Chile and Indonesia. The ICSG ascribed the surplus mainly to a sharp decline in Chinese apparent demand,... 

DTI refuses to release list of black industrialist scheme beneficiaries for fear they will be ‘harassed’ 

By: Terence Creamer     23rd May 2017 Trade and Industry Minister Dr Rob Davies showcased four recipients of government’s flagship Black Industrialist programme (BIP) during his Budget Vote on Tuesday, but astonishingly refused to release the names of all 46 recipients of the non-refundable government grants and concessional loans.... 

Ivanhoe receives final instalment from Zijin for Kamoa stake

By: Creamer Media Reporter      23rd May 2017 TSX-listed Ivanhoe Mines has received the final installment of $41.2-million owing from a subsidiary of Zijin Mining Group as part of a strategic codevelopment agreement under which Zijin acquired 49.5% of Ivanhoe’s majority stake in Kamoa Holding for $412-million. Kamoa Holding has an indirect... 

Thos Begbie’s global quality status boosted by on-the-spot Dekra 

By: Martin Creamer     23rd May 2017 The same-site working relationship that Thos Begbie has established with global quality inspectorate Dekra Industrial RSA is giving the prolific exporter of copper castings a commercial edge in its global dealings with mining and smelter-related customers worldwide. Thos Begbie now hosts the... 

Georgian Mining raises $7m for copper/gold exploration

By: Mariaan Webb     23rd May 2017 Aim-listed copper and gold developer Georgian Mining has raised $7-million in an oversubscribed placing to expand the resource at its Kvemo Bonisi (KB) project in Georgia. The project, located on the Tethyan belt, which is host to multiple high grade copper/gold deposits and producing mines in... 

Queensland coal mining jobs growing again

By: Esmarie Swanepoel     23rd May 2017 Stronger commodity prices have resulted in an increase in the number of jobs in the coal exploration sector, with new data from the Queensland government revealing that employment in the sector had grown by more than 3 000 in the six months to November. “Coal mining jobs are up 9% to 22 000 and... 

Minister says S Australia plans magnetite strategy

By: Esmarie Swanepoel     23rd May 2017 The South Australian government has unveiled plans for a magnetite strategy, similar to its copper strategy, to unlock the 14-billion tonnes of ore present in the state. Minister for Mineral Resources and Energy Tom Koutsantonis said in Adelaide on Tuesday that the soon-to-be released magnetite... 

Glencore predicts Opec insulated from electric vehicle impact

By: Reuters     23rd May 2017 Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet... 

Anglo said to have bids in for New Largo from Seriti

By: Bloomberg     22nd May 2017 Anglo American has received bids for its New Largo project, in South Africa, as the company continues efforts to exit operations in the country that supply coal to local power plants, according to two people familiar with the process. Seriti Resources, which agreed last month to buy thermal coal... 

Cape Lambert buys into Zambia cobalt project

By: Esmarie Swanepoel     22nd May 2017 ASX-listed Cape Lambert has signed a binding term sheet to acquire a 70% interest in the Kitwe cobalt/copper tailings project, in Zambia. Under the terms of the agreement, Cape Lambert will pay $25 000 on the execution of a term sheet to acquire a majority shareholding in Zambian firm Australian... 

Freeport Indonesia workers to strike for second month - union

By: Reuters     21st May 2017 An estimated 9 000 workers at the giant Grasberg copper mine operated by the Indonesian unit of Freeport McMoRan Inc will extend a strike for a second month, a union official said on Saturday, in an ongoing dispute over employment terms and layoffs. Freeport is at loggerheads with Indonesia over... 

Zambia, First Quantum seen resolving $1.4bn dispute in June

By: Reuters     21st May 2017 A row that saw a State-owned Zambian company sue Canadian miner First Quantum Minerals for $1.4-billion is likely to be resolved by June, the southern African nation's Presidency said on Saturday. First Quantum asked a Zambian court in February to dismiss the suit from Zambia Consolidated Copper... 

From Yukon to Patagonia, gold explorers stir after sleep

By: Bloomberg     19th May 2017 From Canada’s Yukon to southern Patagonia, outbreaks of gold-rush fever are popping up as bullion markets stage a tentative recovery. The number of holes drilled at gold deposits has been rising steadily for more than a year, according to S&P Global Market Intelligence. 

Miners ask Congo to adjust tax repayments for franc slump

By: Bloomberg     19th May 2017 Mining companies in the Democratic Republic of Congo asked the government to adjust pending value-added tax repayments for a slump in the franc that could cost them as much as $210-million collectively. Federation des Entreprises du Congo, the country’s largest business lobby group, sent the... 

Congo plans to reintroduce mining code revision next week

By: Reuters     19th May 2017 Democratic Republic of Congo's government plans to reintroduce legislation in Parliament next week to revise the mining code a year after withdrawing it amid fierce opposition from mining companies, the mines minister told Reuters on Friday. The government of Africa's largest copper producer... 

Inflated base case prices could dent confidence in mine development

By: Henry Lazenby     19th May 2017 Project valuations based on elevated price assumptions in the absence of more reasonable scenarios to provide a more balanced view to the market is potentially damaging to the credibility of management teams, their consultants and the mining industry as a whole, London-based boutique investment... 

Five mobile transformers delivered to Mkondeni unit

     19th May 2017 Five mobile transformers were delivered to State-owned power utility Eskom’s Mkondeni unit in KwaZulu-Natal in March.  The plan to purchase the five 132/88-22/11KV mobile transformers started in 2011 and was followed by a rigorous procurement process. Industrial corporation Siemens was awarded... 

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