One of Australia’s leading water scientists says the contamination from millions of litres of highly toxic water is “internationally significant”, with heavy metals in the Wingecarribee River far exceeding safe environmental levels.
Gold futures broke above $1 300/oz, rising to the highest level since November, as global stocks dropped and investors fretted that turmoil in the White House will prevent President Donald Trump from delivering on his legislative agenda.
Futures for delivery in December advanced as much as 1.1% to $1 306.90/oz on the Comex, and traded at $1 298.20 at 11:23 am in New York. The gain came as a gauge of US stocks declined, and the Bloomberg Dollar Spot Index fell 0.2%.
TSX-V-listed Garibaldi Resources is stepping up its exploration efforts at its flagship Nickel Mountain base metals project, in northwest British Columbia’s prolific Eskay Camp.
The Vancouver-based company advised on Friday that crews, including Full Force Drilling based in Peachland, British Columbia, have mobilised to start diamond drilling within the next several days at the historic E&L deposit, the Eskay Camp’s only nickel/copper massive sulphide system, nearly 18 km southwest of Eskay Creek.
Canadian precious metals junior Rye Patch Gold has secured financing to buy four more haul trucks for its Florida Canyon mine, in Nevada.
The Vancouver-based company announced on Friday that it will add four Caterpillar 785C haul trucks for a total of $3.67-million dollars, growing the Florida Canyon truck fleet to fifteen.
Global copper mine output was 3% lower year-on-year during the first five months of 2017, the latest data from the International Copper Study Group (ICSG) showed on Friday.
Concentrate production declined by around 2.5% and solvent extraction-electrowinning (SX-EW) declined by around 4.5%.
The world’s largest publicly traded copper producer Freeport-McMoRan (FCX) has announced on Friday the redemption of five series of senior notes with a total value of $543-million.
The Phoenix, Arizona-headquartered company advised that it has issued notices to redeem on September 18, two series of FCX senior notes and three series of FCX Oil & Gas (FMOG) senior notes currently outstanding.
NEW YORK–(BUSINESS WIRE)–The Valence Group ha fornito a SK Capital Partners, LP un giudizio di congruità nell’ambito della ricapitalizzazione di Archroma, inclusi gli investimenti effettuati da numerose filiali di SK Capital. I termini della transazione non sono stati resi noti. Informazioni su SK Capital SK Capital è una società di investimenti privata specializzata in materiali speciali e nel settore chimico e farmaceutico. La società crea solide aziende in crescita che generano un valore e
Chile’s gross domestic product grew broadly in line with expectations in the second quarter of 2017, boosted by domestic spending, the central bank said on Friday, although investment continued to lag.
GDP grew by 0.7% in the second quarter from the first quarter in seasonally adjusted terms.
NEW YORK–(BUSINESS WIRE)–The Valence Group a fourni un avis quant au caractère équitable à SK Capital Partners, LP, en relation avec sa recapitalisation d’Archroma, y compris les investissements faits par de nombreuses filiales de SK Capital. Les clauses de la transaction n’ont pas été divulguées. À propos de SK Capital SK Capital est une société d’investissement privé spécialisée dans les secteurs des matériaux spéciaux, des produits chimiques et de la pharmaceutique. Solides et en pleine ex
NEW YORK–(BUSINESS WIRE)–The Valence Group hat SK Capital Partners, LP in Verbindung mit der Rekapitalisierung von Archroma, darunter zahlreichen von zu SK Capital gehörigen Unternehmen getätigten Investitionen, eine Fairness Opinion ausgestellt. Einzelheiten der Transaktion wurden nicht bekanntgegeben. Über SK Capital SK Capital ist eine private Kapitalanlagegesellschaft mit Fokus auf in den Bereichen Spezialmaterialien, Chemikalien und Arzneimitteln tätigen Sektoren. Die Gesellschaft baut s
“Like a sports team, Mopani copper mine, in Kitwe, Zambia is near the bottom of the league and needs to improve its ranking to avoid relegation or closure,” says diversified mining major Glencore’s Mopani copper mine CEO Johan Jansen, using a football analogy to explain where the company is in the worldwide league of costs. The mine has been in operation since 1931 and has already produced a “substantial amount” of copper during its lifetime, which has caused a decline in its existing reserves. The mine therefore has to dig deeper underground to find more copper. This increases its production costs which is one of the main reasons why Mopani is considered a high cost copper mine by world standards.
Mining investment advisory company MX Mining Capital Advisors and law firm Norton Rose Fulbright South Africa are collaborating to assist in raising about $500-million in finance for mining projects worldwide and for Africa based ones in particularly. MX Mining is focused on raising capital and working with investors, and emerging and established mining firms to advance projects. However, MX Mining director Dr Mike Seeger tells Mining Weekly that he realised in 2016 that there was a need to strengthen his team and approached Norton Rose to assist with the legal technical components relating to mining finance as well as to leverage the firm’s relationship with government departments and senior investors owing to its vast experience of working on mining finance deals worldwide.
The share price of embattled Kingsgate Consolidated rose by more than 36% on the ASX on Friday after the Thai government lifted a temporary suspension on the Chatree gold mine.
Production at the mine ceased at the end of December, in compliance with the requirements of the government. No reason was given for the closure order.
unior explorer Corazon Mining has welcomed a new cornerstone investor in Hanking Australia Investment, which has taken a A$1.68-million stake in the ASX-listed company.
Corazon on Friday announced that it will raise some A$1.8-million through the placement of around 127.4-million shares, priced at 1.4c each. The shares will be placed under Corazon’s current capacity.
Base and precious metals explorer Rox Resources has reported a maiden inferred resource of 573 000 t, grading 1.63% nickel, 1.19% copper and 0.082% cobalt for its Olympia nickel-copper-cobalt-platinum group metal deposit in Western Australia.
The project is estimated to host some 9 300 t of nickel, 6 800 t of copper and 470 t of cobalt, as well as 43 000 oz of palladium and platinum.
ASX-listed junior Great Western Exploration will raise A$2.5-million to fund drilling at its Yandal West gold project, in Western Australia.
The company on Friday announced that it would issue up to 230-million shares at 1.1c each, to a number of sophisticated and professional investors.
As government’s plans for radical economic transformation unfold, the mining sector has become the centre of that swirling debate in light of the newly gazetted reviewed and updated Mining Charter. South Africa has been pursing radical economic transformation as the path towards coveted inclusive economic growth, in tandem with fundamental structural and institutional change and shifting patterns of ownership, management and control, to the benefit of all South Africans, particularly the marginalised.
NEW YORK–(BUSINESS WIRE)–The Valence Group issues fairness opinion to SK Capital in connection with Archroma
An order by the Western Australian Supreme Court to wind up ASX-listed Eastern Goldfields has been set aside, with the miner on Friday announcing that the winding up process had been terminated and that the company had been returned to its directors.
Assay provider Genalysis Laboratory Services earlier this week lodged the winding up case, on account of the non-payment of some A$383 000 for services rendered.
PHOENIX–(BUSINESS WIRE)–Freeport-McMoRan Inc. (NYSE: FCX) announced today that notices have been issued to redeem on September 18, 2017, $543 million aggregate principal amount of two series of Freeport-McMoRan Inc. (FCX) senior notes and three series of Freeport-McMoRan Oil & Gas LLC (FMOG) senior notes currently outstanding. In accordance with the terms of respective indentures governing the notes, the notes will be redeemed at the redemption prices set forth in the table below, togethe
The Australian Petroleum Production & Exploration Association (Appea) has called on the Northern Territory government to reconsider its stance on hydraulic fracturing (fracking), saying an onshore gas industry in the region could deliver new sources of stable, long-term revenue for the Territory government.
Speaking at the South East Asia Offshore and Onshore Conference, Appea chairperson Martin Ferguson said that natural gas generated more than 90% of the Northern Territory’s electricity, and that liquefied natural gas (LNG) was the region’s largest export.
JSE- and Aim-listed Pan African Gold expects to report earnings per share (EPS) of between 18.3c and 21.32c in the year ended June 30. This represents a 29% to 39% decrease on the EPS of 30.2c reported in the prior financial year.
The Loch Lomond and Trossachs National Park Planning Authority has confirmed receipt and has validated Scotgold’s application for revised operations at the Cononish gold and silver project, in Scotland.
The validation defines the start of the statutory determination period, Aim-listed Scotgold said on Friday, adding that it hoped for a decision to be made by December.
DUBLIN–(BUSINESS WIRE)–The “Commercial Deep Sea Mining” report has been added to Research and Markets’ offering. Deep sea mining is an industry on the cusp of taking off. Continued progress on the world’s first commercial deep sea mining project off the coast of Papua New Guinea, fast-growing exploration activity worldwide, significant government interest and backing, and the reaching of important milestones in the development of regulatory frameworks indicate that the vast expanses of high-g
Aim-listed Vast Resources has received a finance offer from Sub-Sahara Goldia Investments, which matches the $10-million agreement signed with a Romanian investor last month.
Sub-Sahara, which provided Vast with a $4-million loan in January, had a right to provide equivalent finance to the proposed investment of the corporate finance and investment firm.
The Reserve Bank of Zimbabwe has ordered platinum and chrome miners to surrender 80% of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage. Previously miners in the southern African nation were required to retain 50% of their earnings.
Robert Dennis has mined coal in West Virginia for 10 years but a recent evening found him in a classroom at his local community college. He came to learn about opportunities in fracking, a drilling technique used to produce natural gas — the very fuel that is threatening coal’s future. “I know mining inside and out,” said Dennis, a 41-year-old shift foreman from Wetzel County, adjusting the black Adidas cap on his head. But now, “I just want more doors to be open.”
Mineral resources minister Mosebenzi Zwane on Friday defended the controversial Reviewed Mining Charter, saying that it was his firm belief that the Charter would give “practical expression to the meaning of radical economic transformation” Speaking at the Black Business Council business breakfast in Johannesburg, Zwane said the economy must undergo a fundamental change in order for the majority of South Africans to meaningfully participate.
Sierra Leone Presidential candidate and former CEO of Sierra Rutile John Sisay has denied allegations that he was involved in bribery to secure mining licences in the African nation.
Reports emerged this week alleging that mineral sands miner Iluka had uncovered suspected bribe payments by Sisay and London-listed Sierra Rutile prior to Iluka acquiring the company in a A$375-million transaction in December last year.
