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Rio Tinto confirms talks to sell $3.5bn Grasberg stake

By: Henry Lazenby 23rd May 2018 Multinational diversified miner Rio Tinto confirmed on Tuesday that it is in talks to potentially sell its stake in the Grasberg copper/gold mine, in Indonesia, to PT Indonesia Asahan Aluminium (Inalum) for $3.5-billion. Media rumours swirled on Tuesday about the deal, prompting Rio Tinto to make... →

Copper industry in crisis, new areas pursued

By: Jessica Oosthuizen 17th May 2018 The global copper industry is in crisis – traditional orebodies are becoming depleted and the commodity market has depressed the price of copper to such an extent that mining companies cannot afford to invest in expansion or new equipment, says foundry and engineering company Thos Begbie group... →

Rising resource nationalism seen as 'fire burning' for miners

By: Bloomberg 17th May 2018 A rising tide of resource nationalism is causing miners to rethink where they invest and creating volatility for a sector already buffeted by brewing trade wars. “A significant industry issue is resource nationalism,” Rio Tinto Group CEO Jean-Sebastien Jacques told investors at a conference in... →

Maiden resource estimate for Asiamet's BKZ

By: Creamer Media Reporter 16th May 2018 London-listed Asiamet Resources believes that its BKZ polymetallic deposit has the potential to be the company’s second mine in the BK district of Kalimantan, Indonesia, the firm said on Wednesday, announcing an initial resource estimate for the project. The resource estimate for BKZ, which is... →

India's thermal coal imports rise over 15% in Q1 – trader

By: Reuters 11th May 2018 India's thermal coal imports rose by more than 15 percent in the first three months of 2018, with Indonesia accounting for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. India's rising coal imports are... →

Economic mobility in developing countries has stalled for the last 30 years – World Bank

By: Anine Kilian 9th May 2018 Economic mobility has been impeded in developing countries over the last 30 years, says the World Bank in its ‘Fair Progress? Economic Mobility across Generations Around the World’ report, released on Wednesday. The report, which tracks economic mobility between parents and their children through... →

Gold price to average $1 360/oz this year – survey

By: Simone Liedtke 8th May 2018 Thomson Reuters GFMS expects the gold price to average $1 360/oz this year and potentially briefly approach a 2018 peak towards $1 500/oz on any external shocks later in the year as it believes that the geopolitical climate and equity markets will continue to support gold’s role as a risk hedge.... →

Nusantara adds ounces in Indonesia

By: Esmarie Swanepoel 8th May 2018 Gold developer Nusantara Resources has added 200 000 oz of gold to its indicated mineral resource estimate at the Awak Mas gold project, in Indonesia. Following the inclusion of the final 31 resource definition and metallurgical diamond holes, the Awak Mas project, which consists of the Awak... →

Freeport Indonesia divestment still targeted for this year, Inalum says

By: Reuters 8th May 2018 Freeport-McMoRan Inc's divestment of a controlling interest in Indonesia's Grasberg mine is still planned for 2018, even though the price and some contract terms are still to be agreed, the head of state mining holding company PT Inalum said. Inalum, which is arranging funding for the deal,... →

Gulf signs power deal for Kupang

By: Esmarie Swanepoel 7th May 2018 ASX-listed Gulf Manganese has signed a five-year power purchase agreement with national power provider PT PLN Wilayah for the supply of 20 MVA power to the Kupang smelting hub facility, in Indonesia. Gulf told shareholders on Monday that as a premium customer, the company was guaranteed power... →

Santos sells Asian portfolio for $221m

By: Esmarie Swanepoel 3rd May 2018 Oil and gas major Santos has announced the sale of its noncore Asian portfolio of assets to Ophir Energy in a deal valued at $221-million. ASX-listed Santos will divest of its 31.87% interest in the Chim Sao and Dua oil fields, in Vietnam, the 67.5% interest in the Maleo and Peluang gas fields,... →

Gold demand slows as investors grapple with unpredictable macroeconomic factors

By: Nadine James 3rd May 2018 Lacklustre investor performance, stemming from investors’ decision to embrace a “wait and see” approach in light of geopolitical uncertainty muddying growth and market outlooks, has contributed to soft first-quarter gold demand, the World Gold Council (WGC) reports. The WGC’s ‘Demand Trends’... →

Aluminium bears on treacherous ground as supply shocks continue

By: Bloomberg 26th April 2018 One of the few hedge funds to survive the downswing in the commodity supercycle has a lesson for traders trying to navigate whipsawing aluminium prices: go short at your peril. While supply fears faded this week after the US eased sanctions against United Co Rusal, traders should be alert to the... →

Skyriders stands tall in rope-access industry with zero-fatality rate

26th April 2018 A zero-fatality rate, in line with OHSAS 18001:2007 and Institute for Work at Height best practice, is a crowning achievement of Skyriders Access Specialists (Pty) Ltd., according to Marketing Manager Mike Zinn. Safety is critical in the rope-access industry. “Safety is paramount in any industry.... →

Newcrest cuts FY forecast on Cadia tailings incident

By: Esmarie Swanepoel 26th April 2018 Gold miner Newcrest Mining has lowered its full-year production guidance on the back of the tailings breakthrough at its Cadia operations, in New South Wales. Gold production for the 2018 financial year, which ends in June, has been revised from between 2.4-million and 2.7-million ounces, to... →

Freeport stock tanks on disappointing Q1 earnings, Indonesia fears

By: Henry Lazenby 25th April 2018 US diversified miner Freeport McMoRan’s (FCX’s) NYSE-listed stock lost as much as 17% on Tuesday following disappointing first-quarter financial results and a lowered copper production outlook. Phoenix, Arizona-based Freeport’s president and CEO Richard Adkerson expressed shock and disappointment... →

Awak Mas gets maiden reserve

By: Esmarie Swanepoel 18th April 2018 Junior gold developer Nusantara Resources has reported a maiden ore reserve of one-million ounces at its Awak Mas gold project, in Indonesia. “Our maiden ore reserve represents a significant milestone for the company and now places Nusantara among an elite group of ASX-listed gold development... →

Global tin mine production growth to slow – BMI

By: Simone Liedtke 13th April 2018 Global tin mine production growth will decelerate between 2018 and 2026, compared with 2009 to 2017, owing to stricter environment regulations and declining ore grades in major producers, such as China, Indonesia and Myanmar. However, the market researcher BMI expects that absolute production... →

Forevermark launches in Indonesia

By: Anine Kilian 12th April 2018 The De Beers Group has launched its Forevermark diamond brand in Indonesia. For the market launch, Forevermark will partner with Indonesia’s premier jewellery company, Central Mega Kencana (CMK). →

Indo urges takeover acceptance

By: Esmarie Swanepoel 5th April 2018 The directors of Indo Mines have urged shareholders to accept a takeover offer from PT Surya Langgeng, after the suitor announced its intention to delist the company from the ASX. The wholly owned subsidiary of PT Rajawali Corpora was offering Indo Mines shareholders 2c a share for their... →

Japan's Mitsubishi Materials sees H1 copper output up 7% y/y

By: Reuters 2nd April 2018 Mitsubishi Materials, Japan's third-biggest copper smelter, said on Monday it plans to produce 187 374 t of refined copper during April-September, up 7% from the same period last year. The company expects output at its Naoshima smelter and refinery in western Japan to rise 11%, while production... →

Indian sand mining framework suggest ‘manufactured sand’ and imports to bridge supply gap

By: Ajoy K Das 29th March 2018 Indian demand for sand, categorised as a ‘minor mineral’, has been estimated at about 700-million tons a year and is growing by 6% to 7% a year, according to a Sand Mining Framework document of the Mines Ministry. The document; however, does not give any estimation of supplies, but acknowledges a... →

Qld opens North West for exploration

By: Esmarie Swanepoel 28th March 2018 The Queensland government has opened up more than 1 000 km2 in the state’s North West minerals province for exploration. Mines Minister Dr Anthony Lynham on Wednesday announced the release of four areas totalling 1 100 km2 via competitive tender as part of Queensland’s annual exploration programme. →

Mercury Rising: Gold mining takes a toxic toll on Kenyan women

By: Reuters 28th March 2018 Scorching sun beats down on half a dozen women as they carry large sacks of crushed ore on their backs at the Osiri-Matanda gold mine near Kenya's border with Tanzania. On wooden tables, they sieve the powdered ore into metal pans, add mercury, and heat the mixture over a charcoal fire. The air... →

Nickel market eyes Philippines as mine review delayed yet again

By: Bloomberg 27th March 2018 The global nickel market will be kept in suspense even longer over the outlook for ore supplies from the Philippines after the country’s mining council again pushed back the deadline for completion of a review of 26 mines ordered shut or suspended last year. Former Environment Secretary Gina... →

Copper developer Asiamet concludes negotiations with Indonesia

By: Creamer Media Reporter 26th March 2018 London-listed Asiamet has concluded long-running negotiations with the Indonesia government to amend the contract of work (CoW) of its operating subsidiary, Kalimantan Surya Kencana (KSK), a development which CEO Peter Bird describes as a “major derisking milestone” as the Beruang Kanan Main... →

Kingsrose swings back to profit as revenue triples

By: Esmarie Swanepoel 16th March 2018 Gold miner Kingsrose Mining has tripled its revenue for the six months to December, as gold production at the Way Linggo project, in Indonesia, increased. Revenue for the interim period reached A$26.9-million, up from the A$8.96-million reported in the previous corresponding period, as gold... →

RNC's Mark Selby dispels myths regarding nickel demand as new EV markets beckon

By: Henry Lazenby 14th March 2018 Tightening long-term fundamentals for nickel are sketching a rosy picture for the stainless steel-making ingredient, as increased dependence from the burgeoning electric vehicle (EV) market adds a growing new demand stream in an already constrained supply scenario. RNC Minerals president and CEO... →

Nigeria aims to become net exporter of refined petroleum by the end of 2019

By: Kim Cloete 13th March 2018 The Nigerian National Petroleum Corporation Nigeria (NNPC) is pushing ahead with its goal to revive its oil refineries and become a net exporter of petroleum products by the end of next year, delegates at the annual conference of the African Refiners & Distributors Association (ARA), in Cape... →

Stone Age people in South Africa unharmed by supervolcano eruption

By: Reuters 13th March 2018 A supervolcano eruption about 74 000 years ago on Indonesia's island of Sumatra caused a large-scale environmental calamity that may have decimated Stone Age human populations in parts of the world. But some populations, it seems, endured it unscathed. Scientists on Monday said excavations at two... →

Gulf secures A$15m to fund Kupang smelters

By: Esmarie Swanepoel 12th March 2018 ASX-listed Gulf Manganese has secured A$15-million to fund the construction and commissioning of the first two manganese smelters at its Kupang smelting facility, in Indonesia. Gulf on Monday announced that it would issue a convertible note worth A$6-million, with a zero percent interest to... →

VAT hike tests SARB's hawkish stance

By: Reuters 9th March 2018 After the first VAT hike since apartheid, South African consumers are calling for an interest rate cut but the South African Reserve Bank (SARB) has numerous reasons to resist this pressure, chief amongst them a desire to sustain an inflation-busting rally in the rand. Since market-friendly Cyril... →

Rio Tinto's last two coal mines set to attract bids over $2.5bn

By: Reuters 9th March 2018 At least three bidders are expected to submit final offers for global miner Rio Tinto's Hail Creek and Kestrel coal mines in Australia, which could fetch up to $2.5-billion, people familiar with the process said. The Anglo-Australian mining company made a strategic decision in 2017 to exit coal... →

Solar-hydro hybrid schemes can help fulfil Africa’s energy needs

7th March 2018 By Riyaadh Hassim and Louiza van Vuuren The evidence for climate change is clear worldwide. We see it in record heat levels, heavier rainstorms and severe droughts, increased tropical storms and hurricane intensity. This reality has forced a new era of clean energy development. At the same time,... →

Indonesian President wants to wrap up talks over purchase of Freeport unit by end-April

By: Reuters 5th March 2018 Indonesia's President Joko Widodo has instructed his administration to complete negotiations over the purchase of a majority stake in Freeport-McMoRan's local unit by the end of April, a Cabinet Minister said on Monday. "According to the President, it should be wrapped up before the end of April,... →

Bass Oil flags major prospectivity boost at onshore Indonesian oil producing property

By: Simone Liedtke 5th March 2018 ASX-listed Australia Bass Oil on Monday announced a major upgrade to the prospectivity of the company's producing Tangai-Sukananti KSO, located in onshore Sumatra, Indonesia. Highlights of the upgrade, resulting from an independent review of the company's stake in the KSO located in the prolific... →

LafargeHolcim CEO launches overhaul, takes big Q4 charge

By: Reuters 2nd March 2018 LafargeHolcim aims to grow faster than the overall market and cut costs under a five-year plan set out by the new chief executive of the world's biggest cement maker on Friday. The strategy was launched as LafargeHolcim reported a 3.1-billion Swiss franc ($3.3-billion) net loss during its fourth... →

Yokogawa Releases Device Lifecycle Management, a New IIoT Service for the Cloud-based Management of Device Information

28th February 2018 A key to success in digital asset management Yokogawa Electric Corporation (TOKYO: 6841) announces the introduction*1 of Device Lifecycle Management, a new IIoT cloud-based service for the management of information on plant assets. This is an information management support service for the... →

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