Canadian miner Teck Resources has sold its 76.56% interest in the Stonepark zinc project, in Ireland, to base metals explorer Group Eleven Resources (G11), according to joint venture (JV) partner Connemara Mining.
Connemara chairperson John Teeling previously said the explorer was keen to have a partner with “deeper pockets” and on Wednesday welcomed the news of G11 as its new partner.
Greece will grant Canada’s Eldorado Gold outstanding permits for its Olympias project this week, its Energy Minister George Stathakis said on Wednesday.
Dozens of Eldorado Gold workers rallied outside the energy ministry in Athens on Wednesday to protest against potential job losses after the Canadian company threatened to suspend investment at its Greek mines, demanding permits and clarifications on an upcoming arbitration process.
ASX-listed Poseidon Nickel and fellow-listed Lithium Australia have inked a lithium exploration and processing memorandum of understanding (MoU) over the Lake Johnston project, in Western Australia.
The parties are planning to explore for lithium-hosted pegmatites on tenements held by both firms at Lake Johnston and Ravensthorpe, with the combined tenement package covering some 1 000 km2.
ASX-listed asset manager Aurora Funds Management has revised its takeover bid for fellow listed Molopo Energy.
Aurora in July announced plans to make an 18c a share takeover offer, under which Molopo shareholders will be able to elect to receive the bid consideration in either cash, capped at A$5-million, or in Aurora shares.
Iron-ore futures in China jumped more than 2% on Wednesday, rising with steel prices for a second day as traders build stocks to cash in on the peak season for demand in the world’s top steel market. Chinese steel demand picks up in September and October after the summer lull as construction activity increases.
The South African mines ministry has told platinum miner Lonmin that it failed to meet some of its social and labour obligations, the producer said on Tuesday, but added it did not think its operating licence was in jeopardy. The London-listed miner received a letter last week from South Africa’s Department of Mineral Resources detailing the areas that the miner had neglected, company spokesperson Wendy Tlou said.
The Northern Territory Government releases details of individual environmental security bond amounts held for nine major mines.
The first reconnaissance aircore drilling campaign Canadian explorer Sarama Resources has undertaken on its newly acquired Bondi deposit has intersected shallow, oxide gold mineralisation over broad intervals about 4 km north-east of the historic resource on the property, the company announced on Tuesday.
Located in highly prospective southern Houndé belt, which is an area where Sarama has had significant exploration success and controls a large land position with significant interests in three advanced gold exploration projects, the Bondi deposit is of high strategic value, making it the key component of the company’s 100%-owned ThreeBee (Bondi/Botoro/Bamako) project.
The Association for Mineral Exploration (AME) has expressed its support of the balanced 2017 budget delivered by British Columbia’s new Finance Minister Carole James.
Government, through its budget and policies creates the economic climate central to attracting critical investment in important sectors such as mineral exploration and development in the province. As the sector competes with jurisdictions across the globe, it is essential that companies can attract new money, access mineral rich regions across the province and acquire the permits necessary to do so in a timely manner.
Canadian gold producer Centerra Gold and the Kyrgyzstan government have reached a wide-ranging settlement agreement that resolves a years-long legal standoff, the company announced on Monday.
The agreement, first rumoured by the media on Thursday, pushed Centerra’s Toronto-listed stock up 4.2% to a new 52-week high at C$9.15 a share.
Lonmin is struggling to find admirers among analysts, who have doubled the number of sell recommendations on its Johannesburg stock in the past two years. The world’s third-largest platinum producer has 16 sell calls, more than any other member of South Africa’s FTSE/JSE Africa All Share Index, data compiled by Bloomberg show. In September 2015, eight analysts suggested selling.
Precious metals miner Tahoe Resources has been given the go-ahead to restart the Escobal silver mine, in Guatemala, the company reported on Monday.
The announcement sent its battered TSX-listed stock soaring by a third on Monday, despite still being down nearly 40% since the start of the year on Tuesday.
ASX-listed junior New Century Resources has reported a 23% increase in the zinc metal content at the Century tailings deposit, in Queensland.
The tailings deposit is estimated to host a measured resource of 78.9-million tonnes, at 3.02% zinc, 0.47% lead and 12.4 g/t silver for a total contained metal content of 2.38-million tonnes of zinc, 370 000 t of lead and 31.5-million ounces of silver.
DUBLIN–(BUSINESS WIRE)–The “China Mining Sector Report 2017/2018” report has been added to Research and Markets’ offering. This report provides a complete and detailed analysis of the mining sector for China. In-depth business intelligence is presented in a standard format across countries and regions, providing a balanced mix between analysis and data. As the world’s second-largest economy, China relies heavily on natural resources, which are essential for the country’s sustainable developme
Moody’s Investor Relations on Tuesday praised the restructuring initiatives made by South African gold and platinum group metals (PGM) miners in a bid to protect the sustainability and profitability, saying that these were benefiting their credit profiles. In a report on Tuesday, Moody’s vice president and senior analyst, Douglas Rowlings, said the changes will also shore up the production profiles of gold miners following a cycle of under-investment in reserves development since 2013.
Nine months after surprising the world with an $11-billion venture to buy a stake in Russia’s state oil company, Glencore is selling most of it and emerging from the deal with a valuable crude supply contract and political ties in Moscow burnished.
The companies announced on Friday that the Glencore-Qatar consortium would sell the bulk of its stake in Rosneft PJSC to CEFC China Energy Co, a little known but rapidly expanding Chinese conglomerate.
Two additional machines and the impact of favourable foreign-exchange movements have contributed to a 12.5% increase in JSE-listed drilling services provider Master Drilling’s revenue to $60.5-million for the six months ended June 30. The group added two raise-bore machines during the period under review, which contributed 4.7% towards the company’s revenue growth. Master Drilling’s fleet now comprises 106 raise-bore machines and 33 slim-drilling rigs.
Surface gold-mining company DRDGold, the oldest company listed on the Johannesburg Stock Exchange with more experience than any other mining company in the recovery of gold from tailings dumps, believes that the time may have arrived for the transplanting of its remarkable expertise to other footprints. DRDGold recovers gold from a large 11.8-million-ounce surface tailings resource that has been built up over more than a century of mining.
Aim-listed Botswana Diamonds’ shares on the LSE rose by nearly 20% on Tuesday as the company announced it would start large diameter drilling (LDD) at the Zebediela project, in Limpopo, in October. Zebediela forms part of the Vutomi Joint Venture project, at Frischgewaagt.
Mali’s State revenues from mining companies rose 1% last year to 247.3-billion CFA francs ($454-million) from 2015 due to a rise in gold prices, the mining ministry said on Tuesday. Mali is the third-biggest gold producer in Africa after South Africa and Ghana, and gold overwhelmingly dominates its mining sector, which provides about a quarter of government revenues.
PITTSBURGH & COVENTRY, R.I.–(BUSINESS WIRE)–Evoqua introduces Blu-Sentinel
DUBLIN–(BUSINESS WIRE)–The “Global Mining Chemicals Market – Segmented by Type, Application, and Geography – Trends and Forecasts 2017 – 2022” report has been added to Research and Markets’ offering. The global mining chemicals market is projected to reach USD 28.9 billion by 2020, at a CAGR of 6.17% during the forecast period from 2015 to 2020. The global mining chemicals market is segmented on the basis of function (flotation reagents (collectors, depressants), extraction chemicals (diluten
Despite a slowdown in exploration and an underinvested industry, South Africa still holds great prospects for exploration in gas, believes PetroSA chief geophysicist Peter Dekker. He told delegates at the South African Geophysical Association (Saga) conference, in Somerset West, that there were sound fundamentals to justify hydrocarbon exploration.
ST. CATHARINES, Ontario–(BUSINESS WIRE)–$ALC–Algoma Central Corporation (“Algoma” – www.algonet.com) is pleased to announce that it has taken delivery of the first of two new Equinox class self-unloading lake bulk carriers from Yangzijiang Shipyard in China and the ship, named the Algoma Niagara, departed today on its two month voyage to Canada via the Panama Canal. The Algoma Niagara is expected to arrive in Canada and enter service in early November, making the ship available for the peak fall s
Indian major Adani has started work on its first solar plant, after receiving development approval from the Isaac regional council, in Queensland.
The 65 MW first stage of the solar plant is expected to cost more than A$100-million to complete, and will be built on a 600-ha block that is part of the Rugby Run grazing property.
DUBLIN–(BUSINESS WIRE)–The “Global Mining Chemicals Market Analysis 2017 – Forecast to 2023” report has been added to Research and Markets’ offering. This analysis is one of the most accurate studies performed using the combinational analytical tools. The report contains up to date financial data derived from varied research sources to present unique and reliable analysis. Assessment of major trends with potential impact on the market during the next five years, including a deep dive analysis
Mineral sands developer Sheffield Resources on Tuesday announced its first binding offtake agreement over its Thunderbird project, in Western Australia.
Under an offtake agreement with Indian ceramics company Ruby Ceramics, Sheffield would supply 6 000 t/y of zircon from the Thunderbird project, which represented around 12% of the project’s estimated total volume during the Stage 1 operations.
Ruby miner Mustang Resources has exceeded its first auction target.
The miner on Tuesday reported inventory levels of 277 000 ct, which meant that Mustang is on track to exceed its 300 000 ct target for its maiden tender in October.
An updated feasibility study (FS) into the Citronen zinc-lead project, in northern Greenland, has estimated that a capital investment of $514-million would be required to support the 3.3-million-tonne-a-year operation.
With a production rate of up to 200 000 t/y of zinc metal and a mine life of 14 years, the Citronen project was expected to generate life-of-mine revenues of some $6.36-billion, ASX-listed Ironbark Zinc said on Tuesday.
Gold miner Petropavlovsk on Tuesday reported a 166% increase in profit for the half-year ended June 30, as revenue jumped 20% on higher production from its hard-rock mines and an increase in the average realised gold price.
London-listed Petropavlovsk, which operates the Pioneer, Pokrovskiy, Malomir and Albyn mines in Russia, posted profit or $24.5-million in the first half of 2017, compared with $9.2-million in the first half of 2016.
Lucara Diamond Corp has completed the Mega Diamond Recovery (MDR) and sub-middles XRT capital projects at its Karowe mine, in Botswana, ahead of schedule. The MDR circuit treats material in the size range between 50 mm and 120 mm and is located directly post the primary crusher and ahead of the process plant. This maximises the upfront recovery of exceptional diamonds prior to the comminution processes where diamond damage may occur.
Democratic Republic of Congo collected $294.3-million in revenues from the mining sector in the first half of 2017, up 9% over the same period last year, the finance ministry said. The finance ministry also said in a quarterly report, seen by Reuters on Tuesday, that revenues collected from the oil and gas sector rose 140% in the first half of this year.
The National Union of Metalworkers of South Africa (Numsa) has demanded Glencore raise coal mining wages by 15%, Numsa said on Tuesday, almost triple the inflation rate of 4.6%. NUMSA also said it was pushing for an increase of 20% in all allowances. The union is scheduled to meet with the Chamber of Mines on Tuesday to discuss wages.
