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Anglo Asian declares first dividend, reports strong H1 results

By: Simone Liedtke     Updated 4 hours ago Aim-listed Anglo Asian has declared a maiden interim dividend, following the company’s move into a net cash position subsequent to June 30. The gold and copper miner, which operates in Azerbaijan, would pay a 3c a share dividend, it said on Wednesday, releasing a strong set of half-year results. 

CITIC completes $556m equity deal with Ivanhoe

By: Marleny Arnoldi     Updated 4 hours ago CITIC Metal Africa Investments, which is a subsidiary of CITIC Metal, has completed a major strategic equity investment of C$723-million, or $556-million, in TSX-listed Ivanhoe Mines. The investment was initiated by CITIC Metal in June.  

Rainbow sees positive outcomes in FY18

By: Simone Liedtke     Updated 4 hours ago Following years of planning and preparation, LSE-listed Rainbow Rare Earths’ Gakara project, in Burundi, entered production in the 2018 financial year, ended June 30, and exported 575 t of rare earths concentrate. In a market dominated by Chinese producers, Rainbow chairperson Adonis Pouroulis... 

MRC places R160m mining equipment order with Epiroc

By: Simone Liedtke     Updated 4 hours ago Murray & Roberts Cementation (MRC) has placed more than R160-million of mining equipment orders with Epiroc. MRC recently ordered multiple drill rigs to be used for the underground production build-up of the Kalagadi manganese mine, in the Northern Cape. 

PSV brings on board two key partnerships to drive strategy going forward

By: Marleny Arnoldi     Updated 4 hours ago AltX-listed industrial holding company PSV Holdings has finalised an equity transaction with Regis Holdings and concluded a broad-based black economic empowerment (BBBEE) partnership with Beryl Holdings Partners. Regis is a Mauritanian-headquartered investment holding company, and Beryl... 

Pan African’s rapid turnaround removes false notions on doing business in SA

By: Martin Creamer     Updated 4 hours ago South Africa was on Wednesday reaffirmed as a country where business is able to do what is required, when London- and Johannesburg-listed gold mining company Pan African Resources outlined the remarkably efficient manner in which this country’s regulatory environment facilitated the closure of a... 

OceanaGold reports no operational impact from recent storms

By: Mariaan Webb     Updated 4 hours ago Multinational OceanaGold’s Didipio operation, in the Philippines and the Haile mine, in the US, have managed to pull through the past weekend’s severe storms in the respective regions without reporting any injuries or a significant impact to production. In the Philippines, where super typhoon... 

Chicago Pneumatic makes it a hat trick of genset give-ways at Zambia MTEs

Updated 6 hours ago August 2018 saw Chicago Pneumatic travel to Zambia to display its generator prowess at three highly successful Mining & Technical Exhibitions (MTEs) as part of its pledge to give away a CPPG5 portable generator at each of the mining exhibitions during 2018. A renowned leader in compact, high... 

750 t SANY excavator expected to be a big hitter in the mining industry

Updated 6 hours ago What is believed to be the largest excavator in Africa has been launched by Goscor Earth Moving (GEM), part of the Goscor Group, and official distributor of SANY. The SY750 is a primary loading tool for the mining industry, from opencast to alluvial diamond mining. The 750 t excavator is ideal to... 

Designed to disrupt

By: Creamer Media Reporter      Updated 6 hours ago Victaulic first disrupted the piping industry as far back as 1919, bringing about the concept of joining pipes with a mechanical bolted coupling in order to rapidly deploy fuel and water to the Allied Forces during World War I. This powerful, industry-changing idea laid the groundwork for... 

Sasol, Solidarity unable to reach agreement

By: Schalk Burger     19th September 2018 Trade union Solidarity and petrochemicals major Sasol were unable to reach an agreement during talks at the Commission for Conciliation, Mediation and Arbitration (CCMA) on Wednesday. Solidarity CE Dr Dirk Hermann said the mediation was deferred to get more clarity on the final Mining Charter’s... 

Coal exports from top shipper hobbled with miners facing constraints

By: Bloomberg     19th September 2018 Coal exports from Indonesia will be restrained this year, which could frustrate a plan by the government to ease a burgeoning trade deficit while keeping prices elevated, according to an industry group. Producers in the world’s largest shipper face an order backlog of 18 months as they aren’t... 

Struggling Aldridge agrees to be bought by Virtus Mining

By: Mariaan Webb     19th September 2018 Troubled Turkey-focused junior Aldridge Minerals has agreed to be bought by Virtus Mining – a development-stage mining company in which Aldridge director Ahmet Taçyildiz will indirectly hold 70%. Virtus will acquire all the issued and outstanding common shares of Aldridge for C$0.10 in cash,... 

Velocity completes Rozino PEA, earns 70% stake

By: Mariaan Webb     19th September 2018 Eastern Europe-focused Velocity Minerals has completed a positive preliminary economic assessment (PEA) for the Rozino openpit gold project, paving the way for the TSX-V-listed company to earn its 70% in Bulgaria project. The assessment is based on an openpit mining operation, which recovers... 

Metallon may pay suppliers in gold amid Zimbabwe cash shortage

By: Bloomberg     18th September 2018 Metallon Corp. is considering paying mining-equipment suppliers in gold because a cash shortage in Zimbabwe is hampering its plan to expand output, Chief Executive Officer Mzi Khumalo said. Zimbabwe, which abandoned its own currency in 2009 because of hyperinflation, has faced cash shortages for... 

CNN-flighted advert projecting huge growth for platinum-using fuel cells

By: Martin Creamer     18th September 2018 French company Air Liquide, a member of the Davos-launched Hydrogen Council that includes platinum-mining company Anglo American, is currently flighting an advertisement on the global television network CNN, which forecasts exceptional growth for the hydrogen and fuel cell market. Quoting the... 

Sitatunga Resources branches out into manganese

By: Marleny Arnoldi     18th September 2018 Exploration and mining project development company Sitatunga Resources has bought the East Manganese project, in Hozatel, Northern Cape, from Southern Ambition, marking the first step in the company’s strategy to build a manganese portfolio in the province. The deal, which was signed on August... 

CEO Initiative to support government’s investor outreach at October summit

By: Terence Creamer     18th September 2018 The CEO Initiative is putting its weight behind President Cyril Ramaphosa’s plans for increasing levels of investment and stimulating growth in the recession-afflicted South African economy. The CEO Initiative draws in business leaders from various sectors and rose to prominence during Pravin... 

Kibo Energy to review tender opportunity for Tanzania power utility

By: Marleny Arnoldi     18th September 2018 Africa-focused energy company Kibo Energy is assessing an opportunity to further participate in the development of Tanzania’s energy sector. This follows after Tanzania Electricity Supply Company (Tanesco) announced on Monday that a tender process has been initiated for superior coal technology... 

Congo expects declaration on strategic metals by end of October

By: Bloomberg     18th September 2018 The Democratic Republic of Congo expects to issue a decree identifying strategic metals by the end of October, a government official said. Congo’s government has said it’s preparing to categorize cobalt and other metals as strategic, imposing a 10% royalty tax on producers including Glencore and... 

MMG slashes Las Bambas copper forecast

By: Mariaan Webb     18th September 2018 Hong Kong- and Australia-listed MMG has lowered its 2018 copper concentrate production guidance for the Las Bambas mine, in Peru, to between 375 000 t and 395 000 t, from an earlier guidance of 410 000 t to 430 000 t. The lower production forecast is as a result of wall instability restricting... 

Universal Coal shares jump on takeover proposal

By: Mariaan Webb     18th September 2018 Australia-listed coal miner Universal Coal on Tuesday confirmed that it had received a conditional, nonbinding offer from a consortium of investors, led by South African mining finance and private equity firm Ata Resources. Ata is proposing a cash offer of A$0.35 a share for Universal and... 

ELB uses AI to automate cutters on spiral and shaking tables

By: Creamer Media Reporter      18th September 2018 ELB Engineering Services (ELB) is pleased to announce that we have piloted and commissioned a fully automated control system to optimise the recoveries on spirals and shaking tables in the minerals beneficiation industry. “ELB has successfully managed to use camera recognition and machine... 

Mining, construction and automotive sectors critical for M&E sector’s survival

By: Creamer Media Reporter      18th September 2018 The link between the metals and engineering (M&E) sector and the mining, construction and auto manufacturing industries will come under scrutiny at the fourth Southern African Metals and Engineering Indaba taking place at the IDC Conference Centre in Sandton on Thursday and Friday this week. “The... 

New Botswana coal mine development under way – Minergy

By: Martin Creamer     18th September 2018 Work is under way on the new Masama coal mine, which Botswana Stock Exchange-listed Minergy expects to commission in January, ahead of its primary listing on London’s Alternative Investment Market (Aim) in the first half of next year. The 390-million-tonne Masama, located in the Mmamabula... 

ELB, Elwatini partner to provide rail solutions

By: Tasneem Bulbulia     18th September 2018 ELB Engineering Services and Elwatini Rail Consultants have formed a special purpose vehicle (SPV), ELB-Elwatini Rail Solutions, to provide services in rail feasibility studies, railway planning, railway engineering design, construction supervision and management, civil design, traction power and... 

Top miner sees US-China trade tensions limiting global growth

By: Bloomberg     18th September 2018 Rising US-China trade tensions threaten to curb consumer purchasing power, crimp productivity growth and limit global economic expansion, according to the world’s biggest mining company. The confrontation between the world’s top two economies, “along with an increasingly unpredictable policy... 

Tahoe Resources' Guatemalan unit announces new round of layoffs

By: Reuters     18th September 2018 The Guatemalan unit of US miner Tahoe Resources laid off an additional 169 workers on Monday, two weeks after the country's top court kept in place a more than 14-month suspension of operations at the company's Escobal silver mine. The layoffs at Minera San Rafael, Tahoe's local unit, now total... 

Premier’s shares fall as it fails to secure DFS funding from Cadence Minerals

By: Marleny Arnoldi     17th September 2018 Aim-listed Premier African Minerals’ share price on the LSE fell by more than 23% on Monday after it announced it had been unable to reach final terms with UK-based mining investment firm Cadence Minerals to fully fund a definitive feasibility study (DFS) for the Zulu lithium and tantalum... 

AngloGold’s Tropicana on track to deliver 500 000 oz/y from 2020

By: Marleny Arnoldi     17th September 2018 There is a strong focus on continuous improvement at AngloGold Ashanti’s 70%-owned Tropicana mine, in Australia, and the aim is to produce 500 000 oz/y of gold from 2020, with support from the adjacent Boston Shaker prospect. In a presentation to the media, on Monday, AngloGold Ashanti... 

Russian giant copper project aims to raise $1.25bn in 2018

By: Reuters     17th September 2018 Baikal Mining Company, operator of Russia's biggest untapped copper deposit Udokan, plans to raise $1.25-billion in project financing from a Russian bank by the start of 2019, its chairperson Valery Kazikayev told Reuters. Spurred by high global appetite for cooper, which many expect to be in... 

Philippine President repeats desire to 'close all mining' after landslides

By: Reuters     17th September 2018 Philippine President Rodrigo Duterte on Monday repeated his desire to shut all mines in the country following deadly landslides that some government officials and large miners said have been exacerbated by illegal small-scale mining. "If I were to try to do my thing I will close all mining in... 

Petra lifts FY18 adjusted Ebitda, starts search for new CEO

By: Tasneem Bulbulia     17th September 2018 Diamond miner Petra Diamonds achieved a 37% year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to $195.4-million for the financial year ended June 30. Its adjusted Ebitda margin improved to 39%, from 36% in the 2017 financial year. 

Imilingo making strides at Electra Mining 2018

17th September 2018 As the final day of Electra Mining Africa 2018 themed ‘Diversity Day’ drew to  a close, the Imilingo Mineral Processing team were upbeat about their diversified Electra experience. “We came into this with a great deal of enthusiasm and it hasn't disappointed in terms of our overall objectives to... 

ELB-ELWATINI - joining forces in offering rail solutions

By: Creamer Media Reporter      17th September 2018 ELB Engineering Services (Pty) Ltd (ELB) is pleased to announce the forming of a Special Purpose Vehicle (SPV) agreement with ELWATINI RAIL CONSULTANTS. This new venture will be called ELB-Elwatini Rail Solutions and will allow the railway expertise of Elwatini to be offered to the market on a... 

Pilbara starts first deliveries of spodumene and tantalite

By: Creamer Media Reporter      17th September 2018 Australian lithium producer Pilbara Minerals confirmed on Monday that its first shipment of spodumene concentrate from the Pilgangoora project would leave Port Hedland this month and said that its first shipment of tantalite concentrate had been delivered to Global Advanced Metals (GAM). MD and... 

Nexa says to invest $1.17bn in Peru, Brazil in five years

By: Reuters     17th September 2018 Brazilian mining company Nexa Resources plans to invest some $1.17-billion in copper and zinc projects in Peru and Brazil over the next five years, the company's general manager Ricardo Porta said on Friday. About $816-million will be invested in Peru, including $555-million in copper projects... 

How Anglo quietly built a commodity trader in Glencore's shadow

By: Bloomberg     17th September 2018 Anglo American has quietly become a commodities trader. In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking... 

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