Diamond miner De Beers has announced the launch of a major empowerment deal related to the transportation of employees to and from its operations at the Venetia diamond mine, in Limpopo. In a high-impact, local procurement and empowerment initiative, Venetia mine, in partnership with VM Diamond Transport, are seeking to engage with businesses owned by local historically disadvantaged South Africans to become 40% shareholders in the bus companies that are soon to be established in Musina and Blouberg.
Mineral Resources Minister Mosebenzi Zwane has given platinum major Lonmin the go-ahead to acquire Anglo American Platinum’s 42.5% stake in the Pandora platinum joint venture (JV) operation, which saves the 3 000 jobs that would have been lost had the operation been placed under care and maintenance. Zwane granted consent for the cession of the right in terms of Section 11 of the Mineral and Petroleum Resources Development Act.
DUBLIN–(BUSINESS WIRE)–The “World Mining Metals Market – Opportunities and Forecasts, 2014 – 2022” report has been added to Research and Markets’ offering. Desalination of brine refers to the removal of salt from sea water. In the process of desalination, concentrated brine is produced as a waste product. If this brine is returned to the sea water, it could adversely affect marine life. Recently, scientists have posited a course of action that would not only solve this problem, but would yiel
Australian junior Riedel Resources has made two key board appointments, which the company says will help drive its new direction of securing and developing cobalt and tech-energy metals opportunities in European lithium-ion markets.
The ASX-listed firm appointed former Alcoa Europe projects manager Alexander Sutherland as a nonexecutive director. Currently located in Switzerland, Sutherland has extensive international experience, including 15 years in Europe, eight in the Asia Pacific region and two years in the US.
DUBLIN–(BUSINESS WIRE)–The “Metal Forging (GLOBAL) – Industry Report” report has been added to Research and Markets’ offering. The Metal Forging (GLOBAL) Analysis provides a detailed overview of the Metal Forging (GLOBAL) market and delivers a comprehensive individual analysis on the top 100 companies, including Unipres Corporation, Chung Hung Steel Corporation and Mahindra Cie Automotive Limited. This report includes a wealth of information on the financial trends over the past four years. T
A meeting between representatives from the private sector, government, civil society and associations of miners and ex-miners took place in South Africa on Wednesday to identify significant interventions for further investments in occupational and public care. Representatives believe that miners’ health in Southern Africa can be improved through smart investments in initiatives aimed at tackling occupational diseases such as tuberculosis (TB) and silicosis.
As political leaders find ways to shock like never before, the world’s favourite haven investment hasn’t been calmer in years.
In the past four months, gold prices moved in a 7.6% range, the least in 10 years, while 120-day volatility is at the lowest since 2005. That’s amid unprecedented uncertainty over US President Donald Trump’s legislative program and divisions in the U.K. over plans to leave the European Union.
Denmark’s biggest commercial pension fund will soon track carbon emissions by companies it invests in, and exclude those it finds breach the Paris climate accord, its CFO told Reuters.
PFA, which provides pensions for 1.2-million Danes and has assets of $95-billion, is the latest investor to push the issue of climate change up its agenda.
GRAND RAPIDS, Minn.–(BUSINESS WIRE)–$ASV–ASV Holdings, Inc. (NASDAQ: ASV), a leading provider of rubber-tracked compact track loaders and wheeled skid steer loaders in the compact construction equipment market, today announced that management will release its second quarter 2017 financial results after market close on Wednesday, August 9, 2017. Management will then host a conference call at 4:30 PM Eastern Time to discuss the results with the investment community and conduct a Q&A session. Any
The European Court of Justice on Wednesday ruled against steelmaker ArcelorMittal’s challenge against how the European Union allocates free carbon permits.
A number of companies have made legal challenges against the EU Commission, seeking to maximise the free allowances they receive under the cap-and-trade Emission Trading System (ETS).
The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of Miners. NUM said it was of the view that such a moratorium would negatively impact its members through job losses, as there will be no Section 11 approvals taking on change of ownership and new mining or prospecting rights.
Production has continued to improve at Aim-listed BlueRock Diamonds’ Kareevlei mine, in Kimberley, with total tonnage for July expected to reach about 20 000 t, a 35% increase on the 14 427 t achieved in June. BlueRock is aiming for a monthly target of 25 000 t by the fourth quarter of this year.
Australia’s Berkut Minerals has been granted a licence for an advanced, near-mine exploration opportunity in northern Sweden, the company announced on Wednesday.
Located on the north-west end of the Skellefteå mineral belt, the Lainejaur project includes a historic nickel, cobalt, copper mine, which was discovered in 1941 and which was brought into production to supply nickel for Sweden during World War II.
SASKATOON, Saskatchewan–(BUSINESS WIRE)–Gensource Potash Corporation (“Gensource” or the “Company”) (TSX.V:GSP) is pleased to announce that initial steps are underway to advance resource development work in its Vanguard Area in south central Saskatchewan. Expanding the definition of the resource in the Vanguard Area creates additional project opportunities for Gensource and potential market partners. The general Vanguard Area consists of mineral extraction leases KL 245 and KL 244, surroundin
The European Court of Justice on Wednesday ruled against steelmaker ArcelorMittal’s challenge against how the European Union allocates free carbon permits.
A number of companies have made legal challenges against the EU Commission, seeking to maximise the free allowances they receive under the cap-and-trade Emission Trading System (ETS).
Tanzanians are being cheated out of the country’s mineral wealth and should take more control of their natural resources, President John Magufuli said. Investors in Tanzania’s mining industry have “stolen” from the country by failing to provide a fair share of the revenue they generate from gold and other minerals, Magufuli said in a speech in the central region of Singida on Tuesday.
MONTERREY, Mexico–(BUSINESS WIRE)–$CEMEX #CEMEX–CEMEX 1st half of 2017 net income reached US$626 million, the highest net income for this period since 2008
ASX-listed Tigers Realm Coal has been awarded a second extraction and exploration licence at the Amaam project, in Russia.
The new licence is located to the south of the recently launched Project F operations, and will give Tigers Realm long-term tenure and mining rights over Area 3 of the Amaam deposit.
ASX-listed Pilbara Minerals on Wednesday reported that nonexecutive director and company founder Neil Biddle will step down effectively immediately. Pilbara told shareholders that with project funding for the Pilgangoora lithium/tantalum project now in place, and construction activities well under way following a final investment decision, Biddle believed it was an appropriate time to step down from the board owing to his growing travel and other personal and business commitments.
ASX-listed Strandline Resources has secured key environmental approval for its Fungoni heavy mineral sands project, in Tanzania.
The grant of the environmental certificate is a key prerequisite for the grant of a mining licence and will remain valid for the life of the project, with Strandline MD Luke Graham saying the grant of the environmental certificate was a major milestone for the company and its strategy to become a low-cost mineral sands producer in the near term.
The Mbeya coal-to-power project (MCPP) was seeing accelerated momentum, with a fresh round of successful follow-up meetings with government departments and other Tanzanian stakeholders concluded, AltX- and Aim-listed Kibo Mining said on Wednesday. The Tanzania-focused mineral exploration and development company, along with the Tanzania Electric Supply Company, received official instruction by the Tanzanian Ministry of Energy and Minerals to prepare a final memorandum of understanding that will govern the further development of the MCPP and the power purchase agreement (PPA).
Value enhancement programmes at diversified miner Independence Group’s Jaguar zinc/copper/silver/gold operation, in Western Australia, has demonstrated that the project’s mine life could be extended to 2022, while operational performance could also be improved.
A prefeasibility study completed on the Triumph deposit has confirmed that an estimated ore reserve of 1.2-million tonnes could extend the current Jaguar operation’s mine life to at least 2022. A process plant improvement study has demonstrated opportunities to achieve higher metallurgical recoveries for zinc and copper concentrates, and to grow a new revenue stream through production and sale of a new precious metals concentrate.
Indonesia has reached an agreement with US miner Freeport McMoRan Inc that any new operating permit for its Grasberg copper mine will only be valid until 2021, an energy and mining ministry official said on Wednesday.
Freeport would be able to apply for two 10-year extensions to this, but the new permit will only be valid once signed and both sides are still negotiating, Energy and Mineral Resources Ministry Secretary-General Teguh Pamuji told reporters.
The red metal is red hot. Copper surged to the highest level in more than two years on the London Metal Exchange, lifting shares of producers including Glencore, driven by expectations that increasing demand in China may fuel a global shortage and buoyed by a weak dollar.
Benchmark three-month futures rallied as much as 2.2% to $6 362.50 a metric ton, the highest level since May 2015, and were at $6 349.50 by 12:29 p.m. in Shanghai. That’s a fourth day of gains, and extends Tuesday’s 3.3% jump. In Hong Kong, Glencore rose as much as 4.5%.
Freeport-McMoRan shares jumped to a 16-month high on Tuesday, as soaring metal prices and progress in a long-running, costly permit dispute with Indonesia buoyed the world’s biggest publicly traded copper miner.
Investors brushed aside quarterly results and full-year forecasts that were short of expectations, focusing instead on a two-year high for copper prices and CEO Richard Adkerson’s confidence in securing a new mining agreement by October for Freeport’s giant Grasberg mine.
TSX- and JSE-listed diamond producer Rockwell Diamonds has delayed its annual general meeting (AGM) from August 23 to October 2.
The company, which has three South African subsidiaries – Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine – has to file its business by September 30 a rescue plan for its subsidiaries that are currently being managed under the South African Business Rescue Provisions.
EINDHOVEN, Nederland–(BUSINESS WIRE)–Phenom-World, de toonaangevende wereldwijde leverancier van rasterelektronenmicroscopen (REM’s), heeft vandaag haar 5e generatie Phenom Pro en ProX REM’s geïntroduceerd. De verbeterde beeldvormingsprestaties van de systemen, 20 procent resolutieverbetering, grotere keuze aan detectoren en nieuwe software verbreden hun toepassingsgebied aanzienlijk, terwijl de gebruiksvriendelijkheid waar de REM’s van Phenom-World om bekend staan nog steeds gehandhaafd blij
US gold major Newmont Mining announced that operations across its portfolio outperformed for the three months ended June, pushing its NYSE-listed stock up by 8% on Tuesday.
The Denver, Colorado-based miner has comfortably beaten analyst earnings forecasts of $$0.26 a share, posting an adjusted net profit of $0.46 a share – a 59% improvement from the $0.29 a share reported in the comparable period of 2016.
The Pacific NorthWest liquefied natural gas (PNW LNG) project has been cancelled by its shareholders, citing an in-depth review and changed market conditions.
Majority owned by Malaysia-based Petronas made the announcement on Tuesday, leaving the project, with a total calculated capital price tag of about C$36-billion, dead in the water.
Brazil’s government unveiled a sweeping proposal to change its mining code on Tuesday, which would boost royalties in the latest move to reduce a budget deficit amid a sluggish recovery from the country’s worst recession on record.
Royalties for iron-ore will rise to as much as 4%, depending on market prices, from 2% currently, according the mining ministry website. The new rules, which will go into effect in November if Congress approves them, include the creation of the National Mining Agency to oversee the mining industry.
Negotiations for the sale of Brazil’s huge Belo Monte hydropower dam have cooled due to disagreements on price and regulatory issues, three sources close to the process told Reuters.
China’s Zhejiang Electric Power Construction, one of the companies linked to negotiations that started in April regarding the sale of the project, did not respond to a request for comment. Shareholders in the consortium running Belo Monte declined to comment.
Chilean state copper miner Codelco is planning to issue $2.75-billion worth of debt in two tranches on the international market, the company said on Tuesday.
Ratings agency Moody’s assigned the debt, which will mature 2027 and 2047, an A3 rating. Net proceeds will be used for refinancing and would not have any material effect on the company’s leverage, Moody’s said.
HOUSTON–(BUSINESS WIRE)–DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the second quarter ended June 30, 2017. The following are results for the three and six months ended June 30, 2017 compared to the three and six months ended June 30, 2016 and three months ended March 31, 2017, where appropriate. A reconciliation of the non-GAAP financial measures is in the back of this press release. DXPE 2017 Second Quarter Financial Highlights: Sales increased 5.1 percent to
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Carlisle Companies Incorporated (NYSE:CSL) reported record net sales of $1,071.7 million for the second quarter ended June 30, 2017, a 7.5% increase from $996.9 million in the second quarter of 2016. Net sales from acquisitions contributed a total of 4.2% to net sales in the quarter. Organic net sales grew 4.0% (organic net sales are defined as net sales excluding both sales from acquisitions within the last twelve months and the impact of changes in foreign
ASX-listed explorer Ardiden has completed the acquisition of the Seymour Lake lithium project, in Canada, with the company saying on Tuesday that the last payment of cash and shares had been made to Stockport Exploration.
The company was fully funded to continue to progress a maiden Joint Ore Reserves Committee-compliant resource drilling programme, and with full ownership of the project now secured, the company could swiftly progress to the next stage of development, Ardiden said.
