Miner Resolute Mining has forward sold 96 000 oz of gold at an average of $1 330/oz to take advantage of a recent upturn in prices.
The company has scheduled monthly deliveries of 6 000 oz scheduled until December 2018.
LONDON–(BUSINESS WIRE)–#OffshoreLubricants–Technavio market research analysts forecast the global offshore lubricants market to grow at a CAGR of close to 4% during the period 2017-2021.
Serbia-focused Tethyan Resources will start trading on the TSX-V in Canada this week, under the symbol ‘TETH’.
Trading in the exploration firm’s shares will start when the market opens on Wednesday, Tethyan reported on Monday.
ASX-listed Poseidon Nickel has told shareholders that the merger between fellow-listed Aphrodite Gold and Spitfire Materials would have no impact on plans to assess possible gold production at the Black Swan processing facility, in Western Australia.
Spitfire and Aphrodite Gold on Monday executed a merger implementation agreement, giving force to an August decision to create a diversified Australian gold development company with a combined resource of 1.3-million ounces.
A scoping study into the Sepeda lithium project, in Portugal, has identified the production of a mineral concentrate to be the preferred route of development, with an underground operation likely to result in the best outcome.
ASX-listed Novo Litio on Monday told shareholders that the scoping study at Sepeda had tested a number of processing scenarios, including the production of a technical grade petalite concentrate, a dual-stream concentrate and battery-grade lithium carbonate, and a lithium carbonate product only.
unior Consolidated Zinc has reported a 70% increase in the zinc resource at its Plomosas zinc/lead/silver project, in Mexico.
The project is estimated to contain a resource of some 968 000 t, grading 15.9% zinc and lead for 154 000 t of contained metal.
New data released by the Australian Bureau of Statistics (ABS) has shown a recovery in exploration spending, with total expenditure up by 6.6%, or A$26.4-million in the June quarter, to A$428.5-million.
The ABS said on Monday that Western Australia was the largest contributor to the increase in the trend estimate this quarter, with spending up 6.5%, or by A$17.4-million.
DUBLIN–(BUSINESS WIRE)–The “U.S. Copper And Copper Alloy Products Market – Analysis And Forecast to 2025” report has been added to Research and Markets’ offering. The report provides an in-depth analysis of the U.S. copper and copper alloy products market. It presents the latest data of the market size and volume, domestic production, exports and imports, price dynamics and turnover in the industry. In addition, the report contains insightful information about the industry, including industry
DUBLIN–(BUSINESS WIRE)–The “U.S. Aluminum Insulated Wire and Cable Market – Analysis and Forecast to 2025” report has been added to Research and Markets’ offering. The report provides an in-depth analysis of the U.S. aluminum insulated wire and cable market. It presents the latest data of the market size and volume, domestic production, exports and imports, price dynamics and turnover in the industry. In addition, the report contains insightful information about the industry, including indust
The Hawks have confirmed that they have received documents from the Organisation Undoing Tax Abuse (Outa) relating to the charges they laid against numerous people allegedly involved in state capture. “We received volumes and volumes of documents from Outa about state capture…I don’t know what they entail, we are still going through them,” spokesperson Brigadier Hangwani Mulaudzi told News24 on Monday.
LONDON–(BUSINESS WIRE)–#FlyAsh–Technavio has announced the top five leading vendors in their recent global fly ash market report from 2017-2021.
Russian mining giant Alrosa president Sergey Ivanov has been appointed to the board of the Diamond Producers Association (DPA).
Founded in 2015, the DPA comprises seven leading diamond producers and aims to promote the industry through the implementation of marketing initiatives.
LSE-listed Acacia Mining is reducing operational activity at its Bulyanhulu mine, in Tanzania, as the pressures of unsustainable cash outflows at the mine owing to the ongoing concentrate ban force the group’s hand. Over the next three months, Acacia will focus on the process of moving the mine to a reduced operational state, undertaking consultations with its stakeholders and ceasing underground activity, with the processing of underground ore to be halted within the next four weeks.
Diversified resources producer Eurasian Resources Group’s (ERG’s) wholly owned Brazilian subsidiary, Bahia Mineração (Bamin), has signed a memorandum of understanding (MoU) with the Brazil state of Bahia and a consortium of Chinese companies to develop a $2.4-billion integrated mining and logistics project, in Brazil. The project includes Bamin’s Pedra de Ferro iron-ore mine, the Porto Sul deep-water port and the associated Fiol railway, which will link the landlocked state of Tocantins to the coast of Bahia.
Aim-listed Ncondezi Energy has entered into a formal agreement to extend its shareholder loan repayment date. The extension includes the loan announced in May, which involved Ncondezi drawing down $2.2-million, taking the total repayment amount to $4.4-million.
Junior mine developer Barkerville Gold Mines has amended its agreement with financial services firm Canaccord Genuity in relation to its previously announced ‘bought deal’ private placement of 25-million common shares, which will qualify as flow-through shares at a price of $1.12 per flow-through share. The offering has been amended to include an additional 8.75-million Barkerville common shares at a price of $0.80 per common share for additional gross proceeds of $7-million. The terms of the previously announced private placement financing of flow-through shares remain unchanged.
Precious metals miner Eurasia is in offtake negotiations with commodity trader Glencore, Chinese group Sinosteel and other unnamed parties for the life-of-mine production from its Monchetundra platinum and palladium project in Russia.
In a projects update published on Monday, the company said that it hoped to reach an agreement with one of these parties in the near future.
The Zambian government’s support for the mining industry and strong copper prices are expected to drive growth in the country’s copper production for this year, despite ongoing power shortages. BMI Research on Monday pointed out that, according to data published by the Zambian central bank, Zambia’s copper production reached 362 000 t by June 30, down slightly from the 367 000 t produced in the first half of 2016.
The Mapochs mine, which is in provisional liquidation with its mining right intact, is going under the hammer next Thursday, when it will be sold to the highest bidder. The mine, which supplied ore for the production of both steel and vanadium ahead of Evraz Highveld Steel and Vanadium going into business rescue, is scheduled to be auctioned on September 14.
The share price of LSE-listed Avocet Mining fell by 26% on Monday morning, after the company announced that it was considering filing for insolvency of its Société des Mines de Bélahouro (SMB) subsidiary, which operates the Inata gold mine, in Burkina Faso. This follows after a standstill agreement between Avocet and some of SMB’s financial and trade creditors expired.
The directors of London-based Central Asia Metals (CAML) confirmed on Monday that they were in “advanced talks” with a third party on a “potential transaction”.
CAML, which has requested a suspension in the trading of its shares on the Aim, reported that the intended transaction would be classified as a reverse takeover under listing rules.
Canada Prime Minister Justin Trudeau and Yukon Premier Sandy Silver have announced that more than $360-million in combined federal and territorial funding will be designated for the improvement of road access in two mineral-rich areas – the Dawson Range, in central Yukon, and Nahanni Range road, in south-eastern Yukon. The Yukon Resource Gateway project will help upgrade over 650 km of road and build or replace numerous bridges, culverts and stream crossings.
Aim- and FSE-listed Bluejay Mining has appointed 70-year old Michael Hutchinson as its nonexecutive chairperson with immediate effect.
Hutchinson has a career spanning almost 50 years in the metals industry, which Bluejay CEO Roderick McIllree said on Monday would greatly benefit the company.
India’s Mines Ministry is reframing the rules and legislation for offshore mineral exploration and extraction to bring it in line with legislation governing onshore mineral auctions.
The Mines Ministry has drawn up amendments to the Offshore Mineral Development and Regulation Act 2002 for circulation among various stakeholders, leading to a 2017 version of a Bill to be put up for ratification of the Parliament, a government official has said.
Somalia’s government has made an urgent request for “immediate military assistance” from the United States to prevent Islamist militants Al Shabaab from supplying uranium to Iran. In a letter, Foreign Minister Yusuf Garaad says the militants have captured a region with uranium deposits and have been strip mining the components, the BBC reported on Monday.
TSX-listed AuRico Metals has submitted its permit applications to the Major Mines Permitting Office (MMPO) for its wholly owned Kemess underground gold-copper project, in British Columbia, Canada. The Kemess project is undergoing a coordinated permitting review process, which means that all the required permit applications have been submitted and will be reviewed at the same time.
Russia-focused gold miner Highland Gold on Monday reported lower half-year profit, as the stronger rouble and lower average grades at its Belaya Gora mine, in the Khabarovsk region, reduced earnings.
Earnings before interest, tax, depreciation and amortisation fell from $79.20-million in the first half of 2016 to $73.25-million in the first half of 2017.
Gold prices climbed 1% to their highest in almost a year on Monday after North Korea’s latest and most powerful nuclear test drove investors towards safe-haven assets. Spot gold had risen just over 1% to $1 338.36 per ounce by 0708 GMT, after earlier touching its strongest level since late September at $1 339.47.
Ruby miner Mustang Resources has reported a record month of production during August, from its Montepuez project, in Mozambique.
The ASX-listed company said on Monday that its current inventory for maiden auction in October stood at 176 500 carats, with 15 613 carats delivered during August.
Investment in Mexico’s mining industry is expected to rise this year due in large part to a global recovery in metal prices after four years of declines, according to projections from the sector. Mexico’s mining chamber predicts mining investments will total $5-billion by the end of the year, a 33% increase from 2016, Sergio Almazan, the group’s director, said in a telephone interview. Nearly half of the funds would come from overseas.
Prime Minister Malcolm Turnbull tries to claim the moral high ground in the ongoing GST debate, again claiming his party is the only one promising an ongoing solution.
The capacity of diversified engineering group Metso’s Tampere factories, in Finland will be increased and occupational safety improved with the new production line for Lokotrack mobile crushing plants. The company says that the investment of about €1-million will significantly shorten the delivery times of equipment models put into line assembly production. The construction work for the new line will start later this year and the first new Lokotrack equipment will come out of the line in the …
Mozambican newspaper “Diário de Moçambique”, which is published in the port city of Beira, capital of Sofala province, has reported that the TCT–Indústrias Florestais (TCT-IF) company is to invest $3-million into its Catapu limestone project. The newspaper cited TCT-IF manager James Whaite as its source.
The Young Mining Professionals (YMP) has launched its latest chapter in London, in the UK and aims to leverage the UK’s location as a “global hub for mining and finance” to provide opportunities for young people in the country’s mining sector and abroad. YPM UK founder Catriona Beadel says that the London chapter expands YMP’s reach to four cities with the others being based in Canada, namely in Vancouver, Toronto and Montreal. Therefore, the UK chapter is the organisation’s first international chapter.
Harmony Gold management is on Friday, expected to brief Mineral Resources Minister Mosebenzi Zwane on the seismic incident a week ago, which killed five mineworkers at it’s Kusasalethu mine near Carletonville. The Chief inspector of mines and the department’s inspectors, who were part of the proto teams, are expected to present Zwane with a report.
