NEW YORK–(BUSINESS WIRE)–Rapaport Auctions, the world’s leading recycler of diamonds, opened its diamond auction in Hong Kong this week. More than 110,000 carats of melee and over 1,450 certified diamonds will be offered for sale to hundreds of buyers. Rapaport’s Melee Diamond auction offers a broad range of recycled and finely assorted premium quality diamond parcels and the Single Stone auction features certified diamonds in all shapes, sizes, and qualities. All recycled diamonds are source
Switzerland’s attorney general has widened a bribery investigation into a former employee of commodities trader Gunvor Group in the Republic of Congo to include the company itself, Gunvor said in a statement on Monday. Gunvor said the investigation was expanded to “examine possible organizational shortcomings exploited by the ex-employee to perpetrate alleged acts of bribery of foreign officials”.
The state of exploration for oil and gas as well as mining is in a fix, with exploration spending having decreased by 69% in the last four years, delegates attending the South African Geophysical Association (Saga) 2017 conference have heard. Lockheed Martin business development manager Dan Di Francesco said there was scope for adopting better technologies as discovery costs had tripled in the last decade. Low commodity prices, the global economic situation and a rise in the cost of exploration had helped to push exploration into a steep decline since 2012.
ASX-listed Kidman Resources and lithium producer Sociedad Quimica y Minera de Chile SA (SQM) have finalised the joint venture (JV) agreement over the Mt Holland lithium project, in Western Australia.
The transaction, first announced in July, will see SQM invest $110-million to acquire a 50% stake in the Mt Holland spodumene mine and lithium concentrator.
Gold miner Evolution Mining said on Tuesday that it was evaluating the potential sale of its Edna May gold mine, in Western Australia, after receiving a “number of offers” from interested parties.
The ASX-listed company reported that it was determining whether the potential sale of the Edna May project was in the best interest of shareholders and stakeholders, with Evolution planning to progress the offers.
Queensland’s real estate industry is a state of contrasts, with Brisbane booming and regional centres struggling, a new report shows.
Eldorado Gold has put Greece on the spot.
The Canadian mining company’s decision on Monday to suspend all its operations in Greece, citing delays in acquiring routine permits, puts the Syriza government of Prime Minister Alexis Tsipras in a difficult position.
Merging potash firms Potash Corp of Saskatchewan and Agrium Inc say they have received an unconditional approval from the Canadian Competition Bureau (CCB) for their proposed merger of equals.
The transaction, billed as a “merger of equals” that will see the creation of a new $36-billion entity, to be named Nutrien, is working its way through the regulatory review and approval process in several jurisdictions.
Project developer Dalradian Resources now has 32% more mineable gold ounces at its flagship Curraghinalt project, in Northern Ireland, after its undertook a sensitivity study on two of the best veins at the project.
The TSX- and Aim-listed junior used a revised resource modelling approach on the T17 and V75 veins resulted in a 37% increase in grade and a 10% increase in ounces.
TSX-listed project developer Eastmain Resources has started preparations to start a preliminary economic assessment (PEA) on the Eau Claire deposit, located on its 100%-owned Clearwater property in James Bay, Quebec.
The news follows the company releasing on Monday an updated mineral resource estimate for Eau Claire, reporting stronger grades, more conservative parameters, and a new understanding of the high-grade schist (HGS) veins, which was made possible by tighter drill spacing in the core of the deposit.
The price of one of the most critical materials for the Western world’s economy and defenses is spiking faster than any major commodity.
Tungsten, used to harden steel in ballistic missiles and in drill bits, has surged more than 50% in the last two months amid growing concern about supply cutbacks in China, where about 80% of the metal comes from. The country is clamping down on polluting mines and enforcing production quotas.
In the first day of trading after China said it’s working on a deadline to end sales of fossil-fuel-powered vehicles, shares are holding ground in the oil companies that stand to lose out.
The listed units of China’s big three oil companies – PetroChina, Cnooc and China Petroleum & Chemical – all posted gains in early trading on Monday in Hong Kong, most likely buoyed by a tick up in crude prices.
Tanzania said on Saturday it planned to nationalise diamonds whose value it put at $29.5-million belonging to a mine majority owned by London-listed Petra Diamonds after it accused the miner of under-declaring its mineral exports. The diamonds were seized at the main airport in Tanzania’s commercial capital Dar es Salaam on August 31 as they were being exported by Williamson Diamonds to Antwerp, Belgium.
In 2015 and 2016, one of the world’s largest zinc mines paid zero royalties, and now the NT Government is considering changing its purely profits-based mining royalty payment regime.
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.
Intermediate gold producer Alamos Gold has agreed to buy small-scale gold producer Richmont Mines in an all-scrip transaction valued at $770-million, the companies announced on Monday.
The transaction will consolidate Alamos’ position as a mid-tier gold producer, adding the Island Gold free-cash-flowing underground mine, in Ontario, to its portfolio.
Private equity firm Denham Capital has agreed to sell its 100% stake in silver producer JDS Silver to Coeur Mining – the largest US-based primary silver producer – in a transaction worth up to $250-million.
The transaction will see Coeur gain access to the high-grade Silvertip silver/zinc/lead mine, in northern British Columbia, and a foothold in one of the best mining-friendly jurisdictions in the world.
Uranium explorer NexGen Energy has entered a purchase agreement with Rainmaker Resources and Eagle Trail Properties to acquire the 40% outstanding interest in its Dufferin Lake property.
The Vancouver-based company and the vendors had previously entered into a mineral claim option agreement dated August 4, 2011, under which the company acquired a 60% interest in the property with Rainmaker holding a 10% interest and Eagle Trail holding a 30% interest.
Energy major Origin Energy will pay A$190-million to increase its interest in the Otway gas project joint venture (JV), in Victoria.
The ASX-listed company on Monday announced that it would acquire JV partner Benaris’ 27.77% interest in the project, as well as its interest in exploration permits in the region.
The Thalanga zinc project, in Queensland, has produced its first copper, lead and zinc concentrate, ahead of schedule and budget.
ASX-listed Red River Resources MD Mel Palancian said on Monday that the start of production at Thalanga, ahead of schedule and under budget, was an outstanding achievement for the company.
Junior gold developer Middle Island Resources has unveiled a second expansion option for its Sandstone gold project, in Western Australia.
The ASX-listed company has entered into an option deed over the Dandaraga gold project, some 16 km southeast of the existing Sandstone gold project and processing plant. The option deed requires an initial option fee of A$20 000, with a further A$200 000 payable within a three-year period, if the option is exercised.
Metals developer MacPhersons Resources will raise up to A$4.4-million through a share placement and share purchase plan (SPP) to fund resource drilling at its Boorara gold project, in Western Australia.
The company said on Monday that an initial A$2.93-million would be raised through a share placement to institutional and professional investors. The placement would consist of up to 22.6-million shares, priced at 13c each.
The mining industry will need to adapt to ongoing changes in technology and involve all players in each step of the process, suggests change management analyst Petro du Pisani. Du Pisani from IntegriChange, who has a longstanding record in the mining industry, told delegates attending the South African Geophysical Association (Saga) conference that advances in computing power, resolution and better sensors would spark big changes. The Global Positioning System (GPS) is going to improve, while the signal-to-noise ratio and big data would also become more advanced.
Global climate change mitigation is amplifying the demand for good quality, low-impurity metal ores, which are being rewarded with high price premiums. There is a huge drive in China towards better quality product, which will eventually use less energy and cause less pollution. (Also watch attached Creamer Media video).
TSX-listed Ivanhoe Mines is confident that the Kamoa-Kakula deposit, ranked the fifth-largest copper deposit in the world, will take one of the top three rankings on the back of the “unprecedented rate of growth” of the high-grade copper resources in the Democratic Republic of Congo (DRC). Ivanhoe on Monday announced assay results from another 43 holes as part of the ongoing 2017 drilling campaign at the Kamoa-Kakula copper project.
Jupiter Mines on Monday announced an off-market equal access share buyback, effectively returning $25-million to its shareholders through an offer to buy back 4% of their shares for $0.29 apiece. The buyback will be funded from a R250-million cash distribution loan repayment from Tshipi é Ntle Manganese Mining and from R100-million of operating profits earned by the company’s manganese marketing business.
ASX-listed Keybridge Capital has launched legal action in the Supreme Court of Western Australia to gain access to information regarding Molopo Energy’s proposed acquisition of a US oil and gas project.
Keybridge, which holds an 18.478% interest in Molopo, said on Monday that the company had “serious concerns” regarding the affairs of Molopo, and the conduct of the current board of directors.
Aim-listed Ortac Resources has set its focus exclusively on its high-potential African exploration mining assets after a board revamp set a strategy review in motion. The exploration and mine development company aims to fast-track its core gold and copper assets in the Democratic Republic of Congo (DRC) and Zambia, both of which are seen as the best near-term opportunity for Ortac to create value for shareholders.
デンバー–(BUSINESS WIRE)–Newmont Ranked Mining Industry Leader by Dow Jones Sustainability World Index for Third Consecutive Year
Aim-listed Goldplat has taken to the High Court of South Africa, Gauteng Local Division, to recover the fees owing and payable to its subsidiary Goldplat Recovery by Rand Refinery. This followed Goldplat’s comments in April that failure to resolve the long-standing dispute between the parties over a binding memorandum of understanding for the processing of a batch of silver sulphide material would see the matter head to court.
Zambia’s copper production is expected to inch lower to 753 992 t this year from 774 290 t in 2016 mainly due to lower output from Konkola Copper Mines, a subsidiary of London-listed Vedanta Resource, the mines ministry said on Monday. Production at Konkola Copper Mines is expected to decline by 40% this year, Ministry of Mines Permanent Secretary Paul Chanda told reporters. Output at Lumwana Mine, owned by Barrick Gold, was forecast to fall 15%, Chanda added.
Lithium developer Pilbara Minerals has started initial work on the five-million-tonne-a-year expansion at its Pilgangoora operation, in Western Australia, even as it works toward achieving Stage 1 production by the second quarter of 2018.
Pilbara on Monday told shareholders that the company had awarded further key contracts, and appointed senior personnel at its Pilgangoora project, in line with its construction schedule, which would see the Stage 1, two-million-tonne-a-year operation ship its first spodumene concentrate in the second quarter of 2018.
HOUSTON–(BUSINESS WIRE)–Denham Capital Announces Agreement to Sell JDS Silver’s Silvertip Mine to Coeur Mining
Federal Trade, Tourism and Investment Minister Steven Ciobo has mandated the Export Finance and Insurance Corporation (Efic) to support onshore resource and related infrastructure projects, in instances where there is a “demonstrated market gap” in the availability of private sector finance.
Ciobo said on Monday that the changes to the mandate were in response to an increasing number of resource projects in some market segments facing difficulties obtaining private market finance for otherwise viable projects.
London-listed Petra Diamonds on Monday said it had temporarily idled the operations of its 75%-owned Williamson mine, in Tanzania, for “health and safety and security reasons”, as key personnel cooperate with authorities over a blocked diamond shipment. The company on Monday confirmed that a parcel of 71 654.45 ct of diamonds recovered from the mine had been confiscated on route to Petra’s marketing office in Antwerp, with certain, undisclosed key personnel from Williamson currently being questioned by the authorities.
