Wogen Resources has agreed to further increase the working capital facility extended to diversified miner Bushveld Minerals’ Bushveld Vametco subsidiary from $9-million to $11-million. Bushveld Minerals on Tuesday announced that its subsidiary would retire a $3-million prepayment facility due to Wogen, while Wogen had also agreed to extend the working capital facility, to be used at the Vametco Alloys operation, near Brits, by $3-million to $9-million.
The Indian mining giant will contest the fine issued by the Queensland Government over the unauthorised release of sediment stormwater from the Abbot Point coal terminal.
The Western Australian resources sector has welcomed the state government’s decision to continue to fund the A$10-million a year exploration incentive scheme (EIS).
“I’m thrilled to announce the Exploration Incentive Scheme will continue following an increase in mineral exploration activities; this is encouraging news for the Western Australian mining industry,” Mines and Petroleum Minister Bill Johnston on Thursday said.
It’s turning out to be a great year for minor metals. Rechargeable-battery ingredient cobalt has gained 83%, while ruthenium, used in the chemical industry and electronics, is up 63%. The latest star is vanadium, an obscure silvery-grey metal thought to have been used to harden steel as far back as the Crusades.
DUBLIN–(BUSINESS WIRE)–The “Global Mining Laboratory Automation Solutions Market Analysis & Trends – Industry Forecast to 2025” report has been added to Research and Markets’ offering. The Global Mining Laboratory Automation Solutions Market is poised to grow at a CAGR of around 0.2% over the next decade to reach approximately $375.03 million by 2025 This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in
DUBLIN–(BUSINESS WIRE)–The “Global Metal Foam Market Analysis & Trends – Industry Forecast to 2025” report has been added to Research and Markets’ offering. The Global Metal Foam Market is poised to grow at a CAGR of around 6.6% over the next decade to reach approximately $118.89 million by 2025 This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical marke
The Obuasi site remains clear of illegal miners and care-and-maintenance activities are ongoing at the Ghana operation, AngloGold Ashanti group planning executive Graham Ehm has assured. “Ghana has definitely done a 180-degree turnaround,” he told investors, analysts and journalists at this week’s AngloGold results presentation attended by Mining Weekly Online. (Also watch attached Creamer Media video).
Platinum group metals and chrome coproducer Tharisa Minerals has entered into a five-year strategic cooperation agreement with steel producer Taiyuan Iron & Steel (Tisco’s) joint venture (JV) company Shanxi Taigang Wanbang Furnace Charge. Under the terms of the agreement, Tharisa will supply the JV with a minimum of 240 000 t/y of chrome, representing about 25% of Tharisa’s targeted production of one-million tonnes of metallurgical grade chrome concentrate.
DUBLIN–(BUSINESS WIRE)–The “Global Nickel Alloys Market Analysis & Trends – Industry Forecast to 2025” report has been added to Research and Markets’ offering. The Nickel Alloys market is poised to grow at a CAGR of around 4.8% over the next decade to reach approximately $17.82 billion by 2025 This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market
Australian oil and gas major Santos has narrowed its net loss for the six months ended June from the $1.1-billion loss reported in the first half of 2016 to a loss of $506-million.
The net loss reported for the first half of 2017 included an impairment charge of $689-million, which resulted from changes to the carrying value of its assets, brought on by changing oil prices, exchange rates, discount rates, as well as production and cost fluctuations.
The Queensland government has enacted laws to deliver stronger workers’ compensation protectors for Queensland miners affected by black lung and associated dust diseases.
Industrial Relations Minister Grace Grace on Thursday said the protections outlined in the Workers’ Compensation and Rehabilitation and Other Legislation Bill were a huge step forward for those battling the insidious disease.
Maritime Canada-based base metals explorer Slam Exploration has acquired the North Rim zinc project, located next to the Caribou mine being operated by Trevali Mining, the junior said on Wednesday.
The acquisition brings the TSX-V-listed company’s number of projects in the prolific Bathurst Mining Camp (BMC), of New Brunswick, to nine, covering some 22 600 ha of prospective land.
Bonds of Murray Energy, the biggest privately owned US coal producer, fell the most in 15 months after the White House denied the company’s request to aid one of its power-plant customers, an action it said would help both companies avoid bankruptcy.
The miner’s $1.1 billion of 11.25% bonds due in 2021 fell 7 cents on the dollar on Wednesday and were quoted at 61 cents on the dollar, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. It was the biggest decliner and the most actively-traded security in the US corporate bond market, the data show.
A new independent mineral resource estimate for uranium junior Energy Fuels’ Canyon Mine project, in Arizona, has increased the uranium resource by one-million pounds, and for the first time outlined a copper resource.
The TSX-V- and NYSE MKT-listed miner announced on Wednesday that the bulk of the resource growth is a function of upgrading inferred resources to the measured and indicated categories.
TSX-V-listed manganese miner Meridian Mining has increased its credit facility from The Sentient Group by $500 000, to $7.5-million, in support of its gold exploration initiatives at the flagship Espigão project, in Rondônia, Brazil.
The company, which recently relocated its headquarters from Amsterdam, Netherlands, to London, UK, advised that the proceeds from the loan will be used to evaluate Meridian’s gold project in Espigão.
Brazil’s government has abolished a vast national reserve, created in 1984, to open the area to commercial mineral exploration, according to a notice in the official government gazette on Wednesday.
The area, which straddles the northern states of Amapá and Pará, is thought to contain rich deposits of gold, iron, manganese and other minerals.
Canadian explorer Savary Gold has discovered three new gold zones at its flagship Karankasso joint venture (JV) gold project, in south-western Burkina Faso, while the latest drilling programme has also extended the known mineralised zones. The TSX-V-listed company, which owns a 69.5% stake in the property with 30.5% JV partner Sarama Resources, on Monday reported the results from its 6 747 m third phase of drilling. This third phase involved the drilling of 109 holes since the start of June.
ASX-listed junior Argosy Minerals has acquired two additional tenements totaling 1 056 ha to add to its Rincon lithium project, in Argentina.
The company on Wednesday said that the tenements, which were currently progressing through the application process, would be transferred to joint venture partner Puna Mining S.A upon the completion of standard regulatory procedures.
DUBLIN–(BUSINESS WIRE)–The “Global Oxygen Free Copper Market 2017-2021” report has been added to Research and Markets’ offering. The global oxygen free copper market is expected to grow at a CAGR of 4.27% during the period 2017-2021. The report, Global Oxygen Free Copper Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a dis
Mining major BHP on Wednesday announced the appointment of two new board members, Terry Bowen and John Mogford, after Malcolm Brinded and Grant King decided to stand down.
The mining company, which is under pressure from shareholders over its oil and gas investments, said King would not stand for re-election to the board, owing to “concerns expressed by some investors”.
The South African platinum industry has been investing in platinum jewellery for more than 45 years through the Platinum Guild International (PGI), which has turned platinum jewellery into an amazing South African asset. Of all the platinum demand levers, platinum in jewellery is the one that can be activated the quickest and the most directly, which is important in light of the need of the struggling platinum industry to continue to create demand for platinum, so that upward pressure is applied on the currently low metal prices being achieved by PGI’s funders – Anglo American Platinum, Impala, Lonmin, Northam, Sibanye and Royal Bafokeng Platinum.
Aim- and FSE-listed Bluejay Mining is in discussions with potential customers for production from the Pituffik mineral sands mine, which the company is developing in Greenland.
CEO Roderick McIllree said on Wednesday that offtake discussions were well under way and that results from the bulk sampling programme, designed to support negotiations, were exceeding expectations.
SPOKANE, Wash.–(BUSINESS WIRE)–The board of directors (the “Board”) of Gold Reserve Inc. (TSX.V:GRZ) (OTCQX:GDRZF) (“Gold Reserve” or the “Company”) is pleased to announce that the Company has reached separate agreements with each of Steelhead Partners, LLC (“Steelhead”) and Greywolf Capital Management LP (“Greywolf”), two of the Company’s largest shareholders, regarding how Steelhead and Greywolf, respectively, will vote the Class A common shares (the “Class A Shares”) over which they exerci
Chinese coal imports from key supplier Australia chalked up year-on-year gains for the second straight month in July, customs data showed, as local output of the commodity eased amid a crackdown on illegal mining and pollution.
Cargoes from Australia rose 4.4% from July last year to 7.47-million tonnes, according to the data from the General Administration of Customs released on Wednesday.
JSE-listed engineering and construction group Murray & Roberts (M&R) said on Wednesday that its “low” order book of R26.9-billion was reflective of tough conditions in the natural resources markets it serves internationally. However, the company described the near- and medium-term outlook as being more promising. M&R reported lower results for 2017 when compared with 2016 and was still emerging from a major restructuring process, which included the sale of its Southern African infrastructure and building businesses to a Southern Palace-led consortium on April 1.
JSE-listed Wecoal says the integration of Keaton Energy, which it acquired for R526.8-million earlier this year, is progressing well. In a strategic update to shareholders, published on Wednesday, the company said the targeted cost savings through synergies and optimisation of management and systems were on track.
BAKERSFIELD, Calif. & PITTSBURGH–(BUSINESS WIRE)–Evoqua selected to supply Bakersfield CA
Aim- and TSX-V-listed Mkango Resources has been granted a further two years on its exclusive exploration licence for its Thambani project, in south-west Malawi, effective September 8, 2017. Mkango is currently evaluating strategic options for Thambani, including opportunities to form a joint venture or to spin-off the project, and other potential avenues that might create value.
Aim-listed Savannah Resources has appointed TZMI to undertake the first phase of a prefeasibility study (PFS) at the Mutamba mineral sands project, in Mozambique. The first phase, which is now under way, will include a gap analysis, options review, project planning and budget finalisation for a second phase of the PFS. “We’re pleased that the first stage of the Mutamba PFS has been contracted to mineral sands expert TZMI. Having completed the scoping study for us, TZMI is well placed to undertake the work and deliver a quick outcome,” Savannah CEO David Archer said in a statement on Wednesday.
Germany’s central bank has brought much of its gold reserve back to Frankfurt, the Bundesbank said on Wednesday, restoring a bulwark of economic stability the country had stashed away at the height of the Cold War.
Guarded well out of Moscow’s reach in safe havens like New York, London and Paris, the 3 378-t, €140-billion gold stockpile had been a symbol of Germany’s ascent, insulating the economy even when others struggled.
The Department of Mineral Resources (DMR) has welcomed the sale of Tegeta Exploration and Resources by Gupta-owned Oakbay Investments to a foreign-owned company for close to R3-billion. This comes after Oakbay Investments announced on Wednesday that it had agreed to sell its interest in Tegeta to the little-known Swiss-based Charles King SA for R2.97-billion in a bid “to save employees’ jobs”.
Poland’s biggest coal miner PGG sees no need for further financial help from its state-run stakeholders as it has started making money, CEO Tomasz Rogala said on Wednesday.
PGG, previously known as Kompania Weglowa, avoided collapse last year thanks to help from state-run utilities PGE, PGNiG and Energa. They also agreed to inject more funds earlier this year to help PGG take over another troubled miner KHW.
Higher commodity prices and production volumes contributed to a significant year-on-year increase in diversified miner Vedanta Resources’ revenue and earnings before interest, taxes, depreciation and amortisation (Ebitda) for the quarter ended June 30. Revenues rose by 32% year-on-year to $3.09-billion for the first quarter of the 2018 financial year, compared with revenue of $2.34-billion in the first quarter of the 2017 financial year.
Oil and gas major Santos will redeem its €1-billion subordinate notes issued in 2010, in line with a strategic focus to reduce debt and costs, and on prudent capital management.
The notes to be redeemed are Santos’ most expensive debt instrument, and replacing it with more efficient long-term debt funding would reduce the company’s forecast free cash flow breakeven oil price, the ASX-listed company said on Wednesday.
CALGARY, Alberta–(BUSINESS WIRE)–Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) today announced that it has mailed the management information circular (the “Circular”) and related materials for the special meeting (the “Meeting”) of the shareholders of the Company to approve the plan of arrangement (the “Arrangement”) pursuant to which Northwest Acquisitions ULC, an entity affiliated with The Washington Companies, has agreed to acquire all of the issued and o
