R/€ = 15.48 Change: 0.09
R/$ = 13.16 Change: 0.13
Au 1284.50 $/oz Change: -1.61
Pt 977.00 $/oz Change: -2.00


Geribaldi ramps up exploration effort at Nickel Mountain

By: Henry Lazenby     19th August 2017 TSX-V-listed Garibaldi Resources is stepping up its exploration efforts at its flagship Nickel Mountain base metals project, in northwest British Columbia's prolific Eskay Camp. The Vancouver-based company advised on Friday that crews, including Full Force Drilling based in Peachland, British... 

Ferguson calls on NT govt to reconsider fracking stance

By: Esmarie Swanepoel     18th August 2017 The Australian Petroleum Production & Exploration Association (Appea) has called on the Northern Territory government to reconsider its stance on hydraulic fracturing (fracking), saying an onshore gas industry in the region could deliver new sources of stable, long-term revenue for the Territory... 

Great Western raises cash for exploration

By: Esmarie Swanepoel     18th August 2017 ASX-listed junior Great Western Exploration will raise A$2.5-million to fund drilling at its Yandal West gold project, in Western Australia. The company on Friday announced that it would issue up to 230-million shares at 1.1c each, to a number of sophisticated and professional investors. 

Rox declares maiden resource at Olympia

By: Esmarie Swanepoel     18th August 2017 Base and precious metals explorer Rox Resources has reported a maiden inferred resource of 573 000 t, grading 1.63% nickel, 1.19% copper and 0.082% cobalt for its Olympia nickel-copper-cobalt-platinum group metal deposit in Western Australia. The project is estimated to host some 9 300 t of... 

Corazon gets net cornerstone investor

By: Esmarie Swanepoel     18th August 2017 unior explorer Corazon Mining has welcomed a new cornerstone investor in Hanking Australia Investment, which has taken a A$1.68-million stake in the ASX-listed company. Corazon on Friday announced that it will raise some A$1.8-million through the placement of around 127.4-million shares, priced... 

Explorer overcomes funding crunch, targeting first gold pour at Mali project by year-end

By: Ilan Solomons     18th August 2017 It is common knowledge that securing investment for exploration projects, particularly for junior operators, has been “extremely challenging”, owing to the current tepid global economic climate and low commodity prices, emerging gold miner Hummingbird business development head Robert Monro tells... 

Bald Hill lithium plant project, Australia

By: Creamer Media Reporter      18th August 2017 The engineering, procurement and construciton contract has been executed, enabling construction to start. 

Firms joining forces to raise $500m for mining projects, particularly in Africa

By: Ilan Solomons     18th August 2017 Mining investment advisory company MX Mining Capital Advisors and law firm Norton Rose Fulbright South Africa are collaborating to assist in raising about $500-million in finance for mining projects worldwide and for Africa based ones in particularly. MX Mining is focused on raising capital and... 

Liza oilfield development project, Guyana

By: Sheila Barradas     18th August 2017 The Liza field is one of the largest oil discoveries of the past decade and forms part of the Stabroek block, which measures 26 800 km2. 

Harmony ups South African capex, pays 70% higher dividend 

By: Martin Creamer     17th August 2017 Gold mining company Harmony Gold, which spent R2.3-billion capital expenditure (capex) on its South African operations in the 12 months to June 30, will be increasing its capex to R2.7-billion for mainly the ongoing development of the Phakisa and Tshepong gold mines in the Free State. The... 

Mustang ruby inventory grows to 147 000 ct

By: Creamer Media Reporter      16th August 2017 ASX-listed Mustang Resources’ ruby inventory at the Montepuez project, in Mozambique, has grown to 147 052 ct, on track for reaching the targeted 200 000 ct to be sold at the company’s inaugural auction in October. The growing inventory is, in part, the result of work to increase water supply to... 

China to ban primary mercury mining by 2032 as convention comes into force

By: Reuters     16th August 2017 China will ban the production and trade of a range of products containing mercury by 2020, including thermometers and blood pressure monitors, and ban primary mercury mining by 2032, as a global pact to cut pollution from the metal comes into effect. China - the world's biggest miner and... 

India, Iran talks on Farzad B gasfields near breaking point 

By: Ajoy K Das     16th August 2017 The protracted negotiations between India and Iran on the Farzad B gasfields have come to a halt following a hardening of stance by both countries. No top level talks between officials of India and Iran have been held since the expiry of the last deadline of February, but official written... 

ONGC Videsh earmarks $1bn for oil production growth

By: Ajoy K Das     16th August 2017 ONGC Videsh, the overseas arm of Indian exploration and production (E&P) major ONGC, is aiming to complete a $1-billion capital expenditure programme during the 2017/18 financial year. This investment spread across exploration, development and production will enable ONGC Videsh to achieve oil... 

Miner Hochschild's H1 pretax profit falls 33.8% on higher costs

By: Reuters     16th August 2017 Precious metals miner Hochschild Mining's pretax profit fell 33.8% in the first half of the year, hurt by higher costs. Attributable silver production rose 8.9% to 8.9-million ounces in the six months ended June 30, and the company said it was on track to deliver attributable production of... 

Pullback in US fracking sand use pressures producers

By: Reuters     16th August 2017 US shale oil companies are pulling back on the amount of sand they use to hydraulically fracture new wells, responding to rising prices of the material that are driving up costs. Investors worry a slowdown in sand use, combined with new mining capacity coming online, could lead to a glut of the... 

Mauritania issues 30-yr mine licence for Algold’s Tijirit project

By: Henry Lazenby     16th August 2017 West Africa-focused junior project developer Algold Resources has received a formal decree by the Mauritania government granting a 30-year mining licence for the Tijirit project. Montreal, Quebec-based Algold in June announced that the Mauritania government intends to issue the mining licence,... 

Prize Mining exploration hits highest gold-in-soil sample ever at Silver King shear system

By: Henry Lazenby     16th August 2017 Junior explorer Prize Mining has intersected the highest gold-in-soil sample in recorded history along the Silver King shear system at its Kena-Daylight gold project, in south-eastern British Columbia. The Calgary, Alberta-based company on Tuesday reported the initial batch of soil assay results... 

Bisie boxcut nears completion, first tin concentrates in 2019

By: Ilan Solomons     15th August 2017 Tin exploration and development company Alphamin Resources is nearing completion of the boxcut at its 9 900 t/y Bisie tin project, in North Kivu, in the Democratic Republic of Congo (DRC). Alphamin CEO Boris Kamstra tells Mining Weekly Online that local earthworks contractor Kongo River, which is... 

Explorer Connemara raises £135 000

By: Creamer Media Reporter      15th August 2017 Irish exploration firm Connemara Mining has raised £135 000 in a share placing, the Aim-listed company announced on Tuesday. Connemara placed 7 848 837 new shares of €0.01 each in the company at 1.72p a share to raise the capital. 

China’s TMI injects A$30m into Woodie Woodie manganese restart

By: Esmarie Swanepoel     15th August 2017 China’s Ningxia Tianyuan Manganese Industry Company (TMI) will invest some A$30-million to restart operations at the Woodie Woodie manganese mine, in Western Australia. Owner Consolidated Minerals (ConsMin) suspended operations at the mine at the start of 2016 on the back of declining manganese... 

Azure secures new flagship project in Mexico

By: Esmarie Swanepoel     15th August 2017 ASX-listed junior Azure Minerals has secured its next flagship project in the form of the Oposura zinc/lead/silver project, in Mexico. The company on Tuesday announced that it had taken full ownership of the advanced-stage project, which contained high-grade, massive sulphide-hosted zinc, lead... 

TMAC again lowers guidance as mill ramp-up slows

By: Henry Lazenby     15th August 2017 Emerging gold producer TMAC Resources expects to produce even fewer ounces this year at its Dorris mine, in Canada’s Nunavut Territory, as a slower-than-expected ramp-up of the plant impacted on the operation’s most recent quarterly performance. TMAC poured first gold at Dorris – part of the Hope... 

Erin Energy starts drilling at Oyo-9 well

By: Creamer Media Reporter      14th August 2017 Oil and gas exploration and production company Erin Energy Corporation has started drilling of the Oyo-9 well, offshore Nigeria. The well is being drilled with the Pacific Bora sixth-generation drilling rig and is expected to take about 62 days to complete. 

Connemara appoints new CEO

By: Samantha Herbst     14th August 2017 Aim-listed Irish exploration company Connemara Mining has appointed Patrick Cullen its new CEO, effective from Monday.   Cullen boasts over 20 years of experience in the mining and exploration sector, most recently as a director of UK-based mining and metals company Kodal Norway. He was also... 

Cornish Lithium project secures £1m for exploration

By: Reuters     14th August 2017 British mining company Cornish Lithium has secured £1-million to explore for lithium in Cornwall, southwest England, its CEO said, taking the country a step closer to a domestic source of the strategic mineral. Lithium plays an essential role in electric car batteries, and is produced by... 

Queensland’s ‘game changer’ exploration grant welcomed

By: Esmarie Swanepoel     14th August 2017 The Queensland government has opened its coffers for explorers looking for mineral discoveries in the North West region of the state. Natural Resources and Mines Minister Dr Anthony Lynham said on Monday that explorers wanting to work in the North West minerals province had until September 29 to... 

Santos to redirect gas to Pelican Point power station

By: Esmarie Swanepoel     14th August 2017 Oil and gas producer Santos reported on Monday that it had signed an agreement to redirect gas to the Pelican Point power station, to support South Australia’s energy needs. Starting in January next year, Santos will supply 15 PJ of electricity to the power station, through a mix of gas from the... 

Spitfire and Aphrodite to merge

By: Esmarie Swanepoel     14th August 2017 ASX-listed juniors Aphrodite Gold and Spitfire Materials on Monday announced a merger to create a diversified Australian gold development company with a combined resource of some 1.3-million ounces. Under the terms of the agreement, Spitfire has agreed to acquire all of the outstanding capital... 

Australian Potash raises A$5m for Lake Wells

By: Esmarie Swanepoel     14th August 2017 Potash developer Australian Potash will raise A$5-million to advance work on its Lake Wells sulphate of potash (SOP) project, in Western Australia. The company on Monday said that a bookbuild had been completed for the placement of some30-million shares, at 10c each, to sophisticated and... 

Nevsun delays Timok schedule, provides more capital for flagship Bisha ops

By: Henry Lazenby     11th August 2017 Canadian base metals producer Nevsun Resources this week announced a strategic update on its capital allocation plans, allotting extra capital to its Eritrea-based Bisha zinc/copper/gold operation and delaying the timetable for delivery of the Serbia-based Timok prefeasibility study (PFS) to the... 

Britain's Tullow launches oil, gas exploration in Zambia

By: Reuters     11th August 2017 British company Tullow Oil on Friday started exploring for oil and gas in Zambia, Africa's No.2 copper producer, as the country pushes to diversify its economy and reduce its reliance on the industrial metal. Copper mining earns Zambia more than 70% of its foreign exchange but the southern... 

Newcrest withdraws from Oro Verde’s Topacio gold project

By: Creamer Media Reporter      11th August 2017 ASX-listed junior Oro Verde has resumed exploration control at the Topacio gold project, in Nicaragua, after gold major Newcrest Mining withdrew from the project. Oro Verde stated on Friday that the partnership with Newcrest over the past two years had significantly advanced the project and that... 

Mining companies built on wildcat culture now want to share risk

By: Bloomberg     11th August 2017 Swashbuckling gamblers abound in the mining business, where billions are spent searching for mother lodes in some of the most inhospitable places on the planet. But a prolonged slump in metals and big losses on earlier solo projects are turning top producers into risk-avoiding wallflowers. “The... 

McEwen picks up Primero’s Black Fox mine

By: Henry Lazenby     10th August 2017 TSX- and NYSE-listed McEwen Mining has agreed to buy precious metals producer Primero Mining’s Black Fox mine and complex for $35-million, expanding the junior miner’s production footprint in Canada. “Buying the Black Fox Complex provides fantastic synergies with our recently acquired Timmins... 

Metals' best start since 2009 getting drillers back to work

By: Bloomberg     10th August 2017 A nascent recovery in the beaten-down mineral-exploration industry is gaining momentum as metal prices trade at multi-year highs. Global drilling rose for a fifth straight quarter in April to June, according to S&P Global Market Intelligence, and data through early August suggest the recovery is... 

Savannah intersects broad zones of pegmatite at Portugal lithium project

By: Creamer Media Reporter      10th August 2017 Exploration firm Savannah Resources has completed 16 reverse circulation drill holes at its Mina do Barroso lithium project, all of which intersected pegmatite. The company will now sharpen its focus on three primary target areas – Grandao, Reservatorio and NOA. 

Randgold in massive Côte d’Ivoire gold discovery  

     10th August 2017 The exploration team of Randgold Resources has defined a large target in Côte d’Ivoire, which is considered to be “potentially the most exciting gold prospect in West Africa”. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

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