Glencore’s Zambian unit Mopani Copper Mines (MCM) will pay increased electricity prices caused by the removal of state energy subsidies, the mines minister said Monday. Copperbelt Energy Corporation (CEC), which buys power from the State-owned electricity company and sells to mines, slashed supply to Mopani due to a dispute over new, higher tariffs.
WA Treasurer Ben Wyatt uses a post-budget trip to Kalgoorlie to call for a “sensible conversation” about Labor’s gold royalty increase, as one company reviews a planned $50 million investment in the town’s historic mining school.
CHICAGO–(BUSINESS WIRE)–Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) is pleased to announce that it has entered into a definitive agreement (the “Arrangement Agreement”) to acquire privately-owned JDS Silver Holdings, Ltd. and its wholly-owned subsidiary, JDS Silver Inc. (“JDS Silver”), which owns the high-grade silver-zinc-lead Silvertip mine (“Silvertip”) located in northern British Columbia, Canada, adding a sixth producing mine to Coeur’s North American-focused platform. Unde
Copper miner KAZ Minerals has appointed Intertek FD John Hadfield as its new CFO, effective January 1.
Before joining the UK arm of Intertek, Hadfield spent over 14 years at BG Group and Royal Dutch Shell.
DUBLIN–(BUSINESS WIRE)–The “Global Lithium Market – Segmented by Product Type, Applications, and Geography – Trends and Forecasts 2017 – 2022” report has been added to Research and Markets’ offering. Lithium, a silver-white appearance soft metal, is the lightest metal in the periodic table. It reacts immediately when it comes in contact with air and water. Also, the metal exhibits the following properties such as extremely high coefficient of thermal expansion, viscosity modifier in glass mel
Australian minerals exploration company Orion Minerals expects to start trading on the main board of the Johannesburg bourse on September 18, as it progresses its base metals development strategy in South Africa. Orion, which has received approval from the JSE for a secondary listing under the gold mining sector, plans to leverage the listing to open up more efficient local funding options, through an additional market, for the exploration and development of its South African projects.
Canada’s Eldorado Gold on Monday announced that it would suspend investment at its operations in Greece, citing delays in obtaining routine permits and licences for the construction of the Skouries and Olympias projects.
The company said that no additional investment would be made into the Kassandra mines, which include Skouries, Olympias projects, as well as the operating Stratoni mine, in Halkidiki.
London-listed Stellar Diamonds has conditionally raised, through Peterhouse Corporate Finance, £330 000 through the issue of 10.15-million new ordinary shares at an issue price of 3.25p a share. The placing is expected to be completed by September 14, conditional on the receipt of the funds in respect of the placing shares and admission of the placing shares to trading on the Aim.
Zimbabwe’s government is using money earned from diamond exports to fund its Central Intelligence Organisation, blamed for a raft of human-rights abuses as it’s helped to keep President Robert Mugabe in power since 1980, Global Witness said. Diamonds dug from the Marange fields in eastern Zimbabwe are channeled through Dubai, India, Holland and South Africa by a complicated web of cross-owned companies based in places as diverse as Mauritius, Hong Kong and Johannesburg, the London-based group said in a report released on Monday. The companies have one thing in common: partnerships with businesses owned by the Zimbabwe government or its military. The earnings, says Global Witness, are funneled back to the CIO and army “off budget.” Zimbabwe’s army and the CIO declined to comment. Calls to the mines ministry weren’t answered.
A prefeasibility study (PFS) into the Stage 1 development of the Telkwa metallurgical coal project, in British Columbia, has confirmed that the project can be developed into a small stand-alone operation.
The PFS found that some 250 000 t/y of saleable coal can be produced over a 19-year mine life, delivering average annual earnings before interest, tax, depreciation and amortization of A$18-milion.
Conflict minerals like cobalt and coltan, which fuel civil unrest and destroy gorilla habitats in Africa, give Australian miners opportunity to provide ethically sourced products.
Glencore’s economic arguments for being allowed to keep expanding its controversial McArthur River Mine do not withstand scrutiny according to analysis by the Australia Institute.
In the NT to give a boost to the ailing Country Liberals, the Prime Minister attacked Labor over its energy policy and told Chief Minister Michael Gunner to “pull the trigger” and get on with fracking.
With a bird in hand, Canadian project developer Fortune Minerals is considering to up the ante for its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories.
The London, Ontario-based company late last month announced that its update of the 2014 feasibility study for the Nico mine, and its complementary metals refinery to be built in Saskatchewan, will take longer to complete than expected.
TSX- and NYSE-listed Dominion Diamond Corp announced late on Thursday that proxy advisory firms Institutional Shareholder Services (ISS) and Glass, Lewis & Co have both recommended that Dominion shareholders vote in favour of suitor The Washington Companies’ $1.2-billion acquisition.
Montana-billionaire Dennis Washington will buy Dominion for $14.25 a share in cash, with subsidiary Northwest Acquisitions slated to acquire all of the issued and outstanding common shares of Dominion.
While the effects of hurricane Harvey are still progressing downstream in the US oil and gas supply chain through chemical feedstocks and chemicals as one progress towards the consumer, hurricane Irma is threatening the US with another potential blow while parts of the country have seen a disruption of energy and chemical product supplies.
Market intelligence firm IHS Markit estimates that eight of the 20 refineries affected by Harvey are now operating at close to ‘normal’ rates. Most of the other 12 are beginning restart procedures or are actively ramping up production.
Base metals miner Hudbay Minerals has signed an agreement with a syndicate of underwriters to raise up to C$278.76-million on a bought deal basis.
The Toronto-based miner has agreed to issue 24-million shares at C$10.10 each, to raise C$243.4-million.
HOUSTON–(BUSINESS WIRE)–Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today that Peak Gold, LLC, the Company’s joint venture with Royal Alaska, a wholly-owned subsidiary of Royal Gold, Inc., completed its 2017 Phase II drilling program on July 31, 2017 which was comprised primarily of testing targets within 1.5 kilometers of known mineralization in Main and North Peak, in addition to three holes drilled through the Main Peak zone to prove the geometry of that deposit an
Graphite developer Syrah Resources has signed an offtake agreement for 30 000 t of graphite from its Balama operation, in Mozambique. The sales agreement with Jixi BTR Graphite Industrial would see the graphite being supplied during the first year of the Balama operation, the company reported on Friday.
The Queensland government on Friday announced a A$25-million investment over the next two years to deliver more reforms aimed at protecting the health and safety of the state’s coal workers.
In tabling the government’s response to the second Coal Workers’ Pneumoconiosis Select Committee report, Natural Resources and Mines Minister Dr Anthony Lynham said that the government would invest the funding over the next two years to implement significant reform to the coal industry.
Australian Foreign Affairs Minister Julie Bishop has labelled the Western Australian government’s recent hike in gold royalties and the introduction of a payroll tax as “disappointing”. Speaking on the sidelines of the Africa Downunder conference, Bishop said that it was regrettable that the state government’s priority was to tax companies that were offering jobs at a time when unemployment was increasing.
Gold miner Regis Resources has reported a maiden ore reserve of 60.1-million tonnes at its McPhillamys gold project, in New South Wales.
Grading at 1.05 g/t gold, the project is estimated to host an ore reserve of 2.03-million ounces.
ASX-listed diamond miner Lucapa has reported gross proceeds of $7.4-million from its seventh sale of alluvial diamonds from the Lulo diamond project, in Angola.
The company said that it had sold 3 214 ct in the last tender at an average of $2 298/ct.
A scoping study into the Bartons underground mine, at the Nullagine gold project, in Western Australia, has proven the project could be developed into a viable mining operation.
ASX-listed Millennium Minerals CEO Peter Cash told shareholders on Friday that the scoping study outlined a very compelling development profile for Bartons, which represented the first proposed underground mining operation at the Nullagine project.
Oil and gas major Santos and fellow-listed Origin Energy have signed a new agreement with polyethylene producer Qenos to supply ethane gas. Under the terms of the agreement, the two companies will supply an estimated 27 PJ to Qenos for the remainder of 2017 until the end of 2019.
Base metals miner Independence Group has officially opened its Nova nickel/copper/cobalt mine, in Western Australia.
MD and CEO Peter Bradford told shareholders on Friday that Nova reached commercial production only five years after its initial discovery, with the project expected to reach nameplate capacity 12 months earlier than tipped in the bankable feasibility study.
The Banfora gold project, in Burkina Faso, is expected to require a capital investment of $232-million, ASX- and TSX-listed Teranga Gold reported on Friday.
A feasibility study (FS) found that Banfora could deliver an average of 119 000 oz/y of gold over a nine-year mine life, at an average all-in sustaining cost (AISC) of $843/oz.
DENVER–(BUSINESS WIRE)–Newmont Mining Corporation is voor het derde jaar op rij aangemerkt als duurzaamheidsleider in de mijnbouw in de Dow Jones Sustainability World Index (DJSI World), een unicum. De plek in de index markeert het elfde jaar op rij dat het bedrijf is geselecteerd voor de DJSI World. Dit jaar namen 942 bedrijven deel aan het duurzaamheidsassessment van RobecoSAM, waarna de best beoordeelde bedrijven zijn gerangschikt in de DJSI – een van de grondigste en hoogst aangeschreven
