Solidarity general secretary Gideon du Plessis has called on Lonmin CEO Ben Magara to participate in a live television or radio debate on its decision to remove the recognition and organisational rights of minority trade unions – Solidarity, the National Union of Mineworkers and Uasa – at its mines. Solidarity on Monday reported that the Association of Mineworkers and Construction Union was now recognised as the only trade union at the platinum miner’s operations.
The Association of Mineworkers and Construction Union (AMCU) wants to have South Africa’s “unfavourable” trade agreements reviewed and potentially amended as the country struggles to industrialise and beneficiate, exacerbating the current jobs “bloodbath” in the mining sector. Speaking at a media briefing on Thursday, AMCU president Joseph Mathunjwa said government was failing to take the necessary steps to attend to the structural challenges in an economy where external pressures are being exacerbated by internal factors.
CASTLE ROCK, Colo.–(BUSINESS WIRE)–ClearPower North America has expanded the market for its patented, Straflo design Industrial Turbine Generator (ITG) with the launch of its new ITG-M Series for the mining industry. The ITG-M Series allows mining companies to utilize their existing gravity-fed pipelines or outfalls to convert water and selective water slurry flows into a source of sustainable, renewable, low-cost electricity. By harnessing sufficient water flow and head, mining companies tha
South Africa’s mining production decreased by 0.8% year-on-year in June, driven by lower gold, iron-ore and platinum group metals (PGMs) output. Gold production was down 3.6% year-on-year in June, while iron-ore output slid 4.4% year-on-year and PGMs 13.7% year-on-year.
Aim-listed Bushveld Minerals and its partner Yellow Dragon Holdings have started a multiphased expansion at the newly acquired Vametco Alloys operation, near Brits, on the eastern limb of the Bushveld Complex, to increase production to more than 5 000 t/y of vanadium over the next three years. Bushveld Minerals holds a 45% interest in Bushveld Vametco, which holds a 78.8% interest in Strategic Minerals Corporation, the ultimate holding company of Vametco. Bushveld Minerals is entitled to a 35% share in Vametco’s financials.
The International Monetary Fund (IMF) has revised Botswana’s 2017 and 2018 economic growth forecast due to rising diamond demand, investment in the water and power sector and reforms to attract investment. The IMF on Wednesday lifted diamond-producer’s 2017 and 2018 economic growth forecast to 4.5% and 4.8% respectively.
Diversified miner Sibanye has partnered with the University of Johannesburg (UJ) to integrate mining education with the Fourth Industrial Revolution. The company will inject R15-million into the university’s mining engineering faculty over the next three years. The company will transfer the money in three tranches of R5-million each year between 2017 and 2019. Sibanye CEO Neal Froneman said at the grant reception ceremony on August 1, when the first R5-million tranche was handed over, that although the primary aim of the investment was to provide high-quality teaching and learning, increased research and innovation intensity and capital investment into facility expansion and maintenance, Sibanye also appreciated that a portion of the investment would be aimed at improving the lives of students through bursaries.
TORONTO–(BUSINESS WIRE)–Aldridge Minerals Inc. (TSX-V: AGM) (“Aldridge” or the “Company”) announced today the filing of its unaudited consolidated interim financial statements as at and for the three and six months ending June 30, 2017 (the “Q2 Financials”), and the Management’s Discussion & Analysis related thereto (the “Q2 MD&A”), which are available on SEDAR and at www.aldridgeminerals.ca. All dollar amounts, unless otherwise indicated, are reported in U.S. dollars. Highlights Fina
BUENOS AIRES, Argentina–(BUSINESS WIRE)–GeoPark Limited (“GeoPark” or the “Company”) (NYSE:GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Chile, Brazil, Argentina and Peru, and Wintershall Energía S.A. (“Wintershall”), a subsidiary of the BASF group, the fourth largest gas producer in Argentina with over 15 blocks, today announced the discovery of a new oil field in the CN-V block (GeoPark 50% WI, W
Ricus Grimbeek has resigned as chief technology officer of diversified miner South32, to pursue other interests. “Ricus has made a significant contribution to South32 in its formative years as a key member of the executive committee. He played a pivotal role in establishing and delivering value from the group’s Regional operating model, while embedding a culture of care,” South32 said in a statement on Thursday.
Russian integrated steel and mining company Evraz reported a doubling in first-half core profits on Thursday and proposed its first dividend since 2014, with results buoyed by higher coking coal and steel prices.
Evraz, Russia’s top producer of coking coal, said its earnings before interest, taxation, depreciation and amortisation (Ebitda) totalled $1.15- billion in the first six months of the year, up from $577-million a year earlier.
The residual funding needed to complete the development of Aim-listed Kefi Minerals’s Tulu Kapi gold mine, in Ethiopia, has narrowed further to $24-million, from the $32-million still required as at July 17. Kefi last month announced that it had signed the terms for $135-million in funding with Oryx Management, reducing the residual funding requirement from $160-million to $32-million.
The exploration team of Randgold Resources has defined a large target in Côte d’Ivoire, which is considered to be “potentially the most exciting gold prospect in West Africa”. Mining Weekly editor Martin Creamer speaks to Creamer Media’s Sashnee Moodley about the developments.
Aim-listed BlueRock Diamonds has raised £860 000 through the issue of 68.8-million shares at a price of 1.25p apiece to further develop mining operations at its Kareevlei mine, near Kimberley, in the Northern Cape. BlueRock on Thursday said its blast programme at the mine had completed the removal of the calcrete cap from the entire kimberlite pipe. The company expects to have completed the blasting and processing of the entire first level of kimberlite, which …
Aim-quoted investment firm Prospex Oil & Gas has acquired a foothold in Romania’s oil and gas industry with the acquisition of an interest in the EIV-1 Suceava concession.
Prospex bought 50% of the concession, which is located in north-east Romania, for €750 000 and entered into a joint operating agreement with Romanian gas producer Raffles Energy, which owns the balance of the concession.
West Africa-focused miner Endeavour Mining will sell its 90% stake in the Nzema gold mine, in Ghana, to private contract miner BCM International for $65-million
CEO Sebastien de Montessus said on Wednesday that the enabled Endeavour to sharpen its focus on its long-life low-cost operations, with two in Mali, two in Burkina Faso and two in Cote d’Ivoire.
ASX-listed investment firm Zeta Resources has launched a partial offer for New Zealand Oil & Gas (NZO), which, if successful, will give the company majority control.
Zeta is the takeover target’s largest shareholder and said on Thursday that it intended to offer other shareholders 72c a share.
Environmentalists are concerned NSW Planning has received a “one-sided picture of CSG” as documents reveal they had secret meetings and tours with Santos, who is currently seeking approval for the Narrabri coal seam gas project.
ASX-listed junior AVZ Minerals will raise A$15-million to fund work at its Manono lithium project, in the Democratic Republic of Congo, where it aims to define a mineral resource by early next year.
The company on Thursday reported that the placement would include a A$13-million strategic investment by Hong Kong-based Huayou International Mining.
Oil and gas producer Origin Energy has warned of a A$1.2-billion post tax impairment for the second half of the 2017 financial year.
The company told shareholders on Thursday that it expected an impairment charge on the Australia Pacific liquefied natural gas (APLGN) project, which would result in a A$815-million post-tax impairment for Origin, reflecting its 37.5% shareholding in the project.
Just one woman presented at this year’s Diggers and Dealers Mining Forum, highlighting the lack of women in high-profile mining positions.
A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London’s Aim market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015/16, a handful of new companies have listed.
Precious metals producer Tahoe Resources has moved to suspend its quarterly dividend of $0.02 a share and has deferred its full-year production guidance on the back of the Guatemala Supreme Court provisionally suspending the mining licence on its Escobal operation, the third-largest silver mine in the world.
The court issued a temporary licence suspension after nongovernmental and anti-mining organisation Calas filed a claim in May against Guatemala’s Ministry of Energy and Mines (MEM). Calas alleged that the ministry had violated the Xinca indigenous people’s right of consultation in advance of granting the Escobal mining licence to Tahoe’s Guatemalan subsidiary, Minera San Rafael.
Project developer Osisko Mining has reported significant exploration success at its flagship Windfall Lake deposit, in Quebec, extending the satellite Lynx deposit.
The Toronto-based mineral explorer on Wednesday reported assays from 12 holes drilled at Windfall Lake, focused on the Lynx Zone, located northeast of the existing 1.6-million-ounce resource.
Starting in September, base metals producer First Quantum Minerals will mothball its nickel-producing Ravensthorpe mine, in Western Australia, on the back of the persistently low nickel price, the company announced on Wednesday.
The Toronto-headquartered company expects that full care and maintenance will be in effect by early October.
The world’s largest iron-ore producer Vale has sold another two of its 400 000-deadweight-tonnne vessels for about $178-million, the Brazilian company reported on Wednesday.
The vessels were delivered on Tuesday to nominees of Bank of Communications Finance Leasing (Bocomm).
DENVER–(BUSINESS WIRE)–#earnings–Royal Gold Reports Record Annual Revenue, Earnings and Cash Flow
CALGARY, Alberta–(BUSINESS WIRE)–Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) will release its fiscal 2018 second quarter results for the period ended July 31, 2017, after market hours on Wednesday, September 6, 2017. The Company will not be hosting a conference call for investors and analysts. About Dominion Diamond CorporationDominion Diamond Corporation is a Canadian mining company and one of the world’s largest producers and suppliers of premium rough d
Canadian gold producer Semafo on Wednesday rallied strongly in Toronto after it confirmed its revised production guidance for the year, on the back of grade stabilisation at the Siou satellite pit of the Mana mine, in Burkina Faso.
The West Africa-focused miner reiterates its 2017 outlook of between 190 000 oz and 205 000 oz of gold, at a total cash cost of between $685/oz and $715/oz and all-in sustaining cost of between $920/oz and $960/oz.
TORONTO–(BUSINESS WIRE)–Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) today reported consolidated financial and operational results for the second quarter of 2017. This earnings release should be read in conjunction with the Company’s Second Quarter Production and Cost Update, Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Silver C
GRAND RAPIDS, Minn.–(BUSINESS WIRE)–$ASV #earnings–Q2 2017 earnings report ASV
With a plump $3.1-billion pile of cash, Newmont Mining is mulling a sweeter dividend to attract a broader shareholder base, a move that makes it an outlier in the still recovering gold sector.
Although miners are no longer crippled by expansion-fuelled debt loads, the priority for their cash is building and expanding mines to replace depleting gold reserves, and further reducing debt.
The NYSE-listed stock of royalty and streaming company Franco-Nevada on Wednesday gained nearly 5% following the company on Tuesday reporting increased revenues and profit for the three months ended June.
The Toronto-based company that does not operate mines, develop projects or conduct exploration, but instead relies on its partners to provide it with net smelter return royalties or commodity streams in exchange for an initial capital investment, reported headline earnings of $46.1-million, or $0.25 a share for the quarter, an increase of 15.3% over the comparable period of 2016.
Poland’s biggest power producer PGE expects coal prices to rise next year due to declining supplies, the company’s CFO Emil Wojtowicz said on Wednesday.
State-run PGE generates most of its electricity from lignite and thermal coal. It produces lignite in its own mines and buys thermal coal mostly from Poland’s biggest miner PGG, which it helped to bail out last year.
