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Barrick Gold eyes assets, exploration as it plots new phase

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

India’s Nalco to bid for bauxite blocks at auctions, readies to foray into merchant mining

By: Ajoy K Das     16th November 2018 With various Indian state governments readying to put 21 bauxite mines up for allocation, State-run National Aluminium Company Limited (Nalco) will put in bids at the auctions for captive consumption and foray into merchant mining of the raw material. The 21 bauxite blocks will be auctioned by... 

Radebe hints at possible Saudi investment to boost South Africa's oil refining capacity

By: Kim Cloete     7th November 2018 Energy Minister Jeff Radebe has called for a collaborative approach to attract investment in oil refining hubs throughout the continent and has hinted that Saudi Arabian investment in refining capacity in South Africa may soon become a reality. “In South Africa we believe the time has come for an... 

Oil, gas outlook positive amid tough conditions, says PwC review

By: Kim Cloete     7th November 2018 The outlook for Africa’s oil and gas industry is positive, despite tough economic conditions and far fewer discoveries over the past year, PwC’s yearly 'Africa Oil & Gas Review' shows. The review indicates how the industry has responded in the wake of the recovery of the oil price to close to... 

Epiroc has agreed to acquire Fordia Group Inc., a Canadian manufacturer of exploration drilling tools.

2nd November 2018 Fordia Group is based in Montreal, Canada, and has sales in more than 70 countries. It provides exploration drilling tools such as diamond bits, down-the-hole tools, drill rods and drill casings, as well as water treatment systems and pumps, used by mining houses and drilling contractors. Its... 

Do mid-tier miners do it better?

1st November 2018 The gold price has remained relatively stable at around US $1200 and $1400 an ounce since 2013, so why is the GDX Index, which measures the performance of the largest gold producers, currently down 70 per cent?  Speaking at IMARC in Melbourne, Evolution Mining Executive Chair Jake Klein said the... 

Encana to acquire shale oil producer Newfield for $5.5bn

By: Bloomberg     1st November 2018 After years of slimming down its oil and gas holdings, Canada’s Encana is reversing course with a $5.5-billion acquisition of a US shale producer in what will be the company’s biggest-ever deal. Encana agreed to purchase Newfield Exploration, which will give it positions in the Stack and Scoop... 

Conroy intersects ‘extensive’ gold at Clay Lake

By: Creamer Media Reporter      1st November 2018 Aim-listed Conroy Gold and Natural Resources on Thursday reported an “extensive gold intersection” at a drill hole completed in the north-eastern end of its Clay Lake gold target, in Ireland. The gold intersection extends for 150.5 m at 0.3 g/t gold. The gold intersection adds to previous... 

Capital-starved mining sector creates 'buyer's market' for investors

By: Reuters     1st November 2018 Specialist mining investors have found a "buyer's market" for projects as the mining sector struggles to compete for funding with new industries, multiple industry executives said at a conference this week. Smaller mines and developers who previously found capital through retail investors in... 

Petrobras to sell stake in Africa unit to Vitol-led group for $1.5bn

By: Reuters     1st November 2018 Brazil's Petroleo Brasileiro SA will sell its 50% stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53-billion, the latest step in the state-controlled oil company's debt reduction drive, according to a securities filing on Wednesday. The other... 

Global gold demand growing across market segments, held back by US ETF outflows

By: Marleny Arnoldi     1st November 2018 World Gold Council (WGC) member and market relations head John Mulligan says the third quarter was a strong one for the global gold industry. Although demand increased by only 1%, or 6 t, compared with the third quarter 2017, the 964 t of gold demand recorded in the third quarter was underpinned... 

Randgold, Barrick increase dividends ahead of proposed merger

By: Simone Liedtke     31st October 2018 In connection with the proposed recommended share-for-share merger of Barrick Gold and Randgold Resources, the companies have agreed on increases in the Randgold and the Barrick dividend, as well as an updated dividend policy for the new enlarged Barrick Group. Randgold shareholders will be... 

Kirkland Lake positioned for a ‘strong finish’ to 2018

By: Creamer Media Reporter      31st October 2018 Mid-tier gold producer Kirkland Lake is positioned for a strong finish to the year, president and CEO Tony Makuch said on Tuesday, announcing another revision to the company’s production guidance for 2018. The miner, which operates in Canada and Australia, increased its full-year guidance to... 

Victoria poised for new resource boom

By: Esmarie Iannucci     31st October 2018 Victoria’s mineral sector is expected to boom, with Resources Minister Tim Pallas this week announcing mining license extensions at two gold projects, and promising the release of further land for minerals exploration. Speaking at the International Mining and Resources Conference (IMARC) in... 

India extends Vedanta’s contract for Rajasthan oil, gas fields

By: Ajoy K Das     30th October 2018 The Indian government has granted a ten-year extension to Vedanta’s contract for exploration and production at the Barmer oil and gas block in the central state of Rajasthan, possibly signalling the end of litigation between the company and government. "The government, acting through the... 

Kefi secures £2m loan to fast-track Tulu Kapi development

By: Marleny Arnoldi     30th October 2018 Aim-listed Kefi Minerals has secured a £2-million loan facility from one of its minority shareholders to progress the Tulu Kapi gold project, in Ethiopia. Kefi’s Ethiopian subsidiary,Tulu Kapi Gold Mines Share Company (TKGM), will soon start certain tasks around community resettlement, project... 

Goldcorp’s all-electric Borden gets $5m govt boost

By: Creamer Media Reporter      30th October 2018 The Canadian government has announced a $5-million investment to support TSX- and NYSE-listed Goldcorp Borden project, which will be the first underground mine in the country to replace all diesel mobile equipment with battery electric vehicles. The new all-electric Borden, in Chapleau, Ontario,... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

Rio CEO says mining industry has to reinvent itself 

By: Esmarie Iannucci     30th October 2018 Diversified miner Rio Tinto has called for a reinvention of the resources industry, in order to fit into a modern world. Speaking at the International Mining and Resources Conference (IMARC) in Melbourne, Rio CEO Jean-Sebastian Jacques said on Tuesday that the resource industry’s vision had to be... 

Endeavour announces maiden resource estimate for Côte d’Ivoire target

By: Simone Liedtke     29th October 2018 TSX-listed Endeavour Mining on Monday announced a maiden resource estimate on the Lafigué target, located within the Fetekro greenfield exploration property, in Côte d’Ivoire, and the identification of 14 additional nearby targets. The maiden Lafigué resource estimate encompasses about two-thirds... 

MICROMINE ensures Africa has skill sets for the future of mining

29th October 2018 Leading mining software solutions and services provider MICROMINE Africa continues to place a large focus on offering tertiary institutions such as Schools of Mines specialised software packages to better equip graduates with the skills needed for the evolving mining industry on the continent.... 

MC Mining secures first Makhado coking coal offtake agreement 

By: Simone Liedtke     29th October 2018 Coal exploration, development and mining company MC Mining has signed the first coal offtake agreement for hard coking coal (HCC) to be produced at its Makhado hard coking and thermal coal project, in Limpopo. The agreement was entered into between MC Mining subsidiary Baobab Mining & Exploration... 

Saskatchewan diamond mine gains provincial approval

By: Mariaan Webb     29th October 2018 The Star Diamond Corporation has received environmental approval from the Saskatchewan government for its Star-Orion South project, near Prince Albert. The project already has a positive federal environmental assessment decision in the bag. 

Great Bear raises C$3.5m for Dixie exploration

By: Creamer Media Reporter      29th October 2018 TSX-V-listed Great Bear Resources has announced a C$3.5-million private placement of shares at C$3.5 each, for further exploration at its Dixi project, in Ontario. The company entered into an agreement with Cormark Securities, pursuant to which Cormark has agreed to purchase one-million common... 

India framing funding options for global junior exploration companies

By: Ajoy K Das     29th October 2018 With global resource majors showing tepid interest in Indian mineral exploration projects, the Mines Ministry is working on models including offers of financial incentives for foreign junior exploration companies to undertake such projects. Government officials familiar with framing of such... 

Namibia scraps black ownership rules for mining exploration licences

By: Reuters     26th October 2018 Namibia has scrapped a requirement for companies seeking mining exploration licences to be partly owned and managed by black Namibians, the country's mining industry group said on Friday. The policy was introduced in 2015 to increase the participation of historically disadvantaged black Namibians... 

Metal Tiger, MOD JV prospecting licences extended

By: Marleny Arnoldi     26th October 2018 Aim-listed Metal Tiger’s joint venture (JV) with ASX-listed MOD Resources, situated in the Kalahari copperbelt in Botswana, has been granted two-year extensions on its prospecting licences by the Botswana licensing authority. These licences were due for renewal by December 31, and hold the T3... 

Hummingbird produces 22 206 oz of gold in Q3

By: Marleny Arnoldi     26th October 2018 Aim-listed Hummingbird Resources poured 22 206 oz of gold at an average grade of 2.99 g/t, for the quarter ended September 30, which represents the company’s second full quarter of commercial production at the Yanfolila gold mine, in Mali. It sold 20 029 oz of gold at an average price of $1... 

Sibanye secures minimum 20% stake in Argentina copper/gold project 

By: Marleny Arnoldi     26th October 2018 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater on Friday announced the conclusion of a transaction with Regulus Resources and the newly formed Argentinian subsidiary of Regulus, Aldebaran Resources, which was established to unlock value at its Altar copper/gold project, in San Juan... 

Goldcorp falls from top tier of miners as Agnico moves ahead

By: Bloomberg     26th October 2018 Agnico-Eagle Mines is now among the top three gold miners in North America based on market capitalisation, as erstwhile industry darling Goldcorp tumbled 18% Thursday on a “miserable quarter.” The three largest gold miners on the continent are Newmont Mining at $15.7-billion, Barrick Gold at... 

Evolution's decline development approved

By: Esmarie Iannucci     26th October 2018 Gold miner Evolution Mining has been given approval by the New South Wales Department of Planning and Environment (DPE) to start construction of the Galway-Regal-E46(GRE46) exploration decline at its Cowal operation. Evolution will spend between A$20-million and A$22-million over 2019 and 2020... 

Hatches Creek sale stalls

By: Esmarie Iannucci     26th October 2018 ASX-listed Tungsten Mining and fellow listed GWR Group have encountered difficulties with the sale of the Hatches Creek tungsten project, in the Northern Territory. The two companies in September struck an agreement under which Tungsten Mining would acquire the project for A$8.68-million. 

Operations resume at Tongon mine, targets advanced

By: Tasneem Bulbulia     26th October 2018 Randgold Resources has resumed normal operation at its Tongon gold mine after a protracted illegal strike, and the company expects to achieve its revised 2018 production target of 230 000 oz, Randgold CEO Mark Bristow has indicated. The mine has also resumed dividend payments and recently... 

Bellevue raises A$15m for exploration

By: Esmarie Iannucci     26th October 2018 ASX-listed junior Bellevue Gold has raised A$15-million through the placement of some 45-million shares, at a price of 34c each. The offer price represented a discount of 5.6% to the company’s last closing price on October 24, and the offering was conducted under Bellevue’s existing capacity. 

Progress made to deliver value-based company strategy

By: Paige Müller     26th October 2018 Integrated chemical and energy company Sasol’s 2018 financial year – which came to a close in June of this year – has proven positive in terms of realising the company’s strategy. “The company has made significant strides in bettering its organisational culture and advancing opportunities in its... 

B2Gold mulls options to increase Fekola mill throughput

By: Simone Liedtke     25th October 2018 The increased mineral resource at TSX- and NYSE-listed B2Gold’s Fekola mine, in south-western Mali, indicates potential to increase mill throughput tonnage and yearly gold production with moderate capital expenditure, the company said on Thursday. Based on about 192 000 m of exploration drilling... 

Newmont adjusted income falls on lower prices, production

By: Mariaan Webb     25th October 2018 Colorado-based Newmont Gold on Thursday reported weaker adjusted net income of $175-million, as its revenue decreased along with gold prices and lower production at various sites. The third-quarter income adjusted for impairments and a write-down in North America, came to $0.33 a diluted share,... 

OceanaGold adjusts FY guidance

By: Creamer Media Reporter      25th October 2018 On the back of strong operational performance in the first nine months of the year, OceanaGold has increased its 2018 gold production guidance for the second time, to a range of 515 000 oz to 545 000 oz. The Melbourne headquartered company previously forecast production to be in the 500 000 oz... 

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