Nickel miner Western Areas has reported another strong production quarter in the three months to June, with full-year production hitting the top-end of the guidance.
During the June quarter, Western Areas mined some 5 994 t of nickel ore, compared with the 6 778 t produced in the previous quarter, with nickel-in-concentrate production reaching 5 725 t, compared with the 5 672 to produced in the March quarter.
Severe weather conditions associated with Cyclone Debbie have seen coal production at the Curragh mine, in Queensland, decline during the three months ended June.
ASX-listed Wesfarmers on Tuesday reported that coal production for the quarter under review was down 3.2% on the previous quarter, to just over three-million tonnes, with metallurgical coal making up 2.04-million tonnes, down 10.1% on the previous quarter, and steaming coal production down 14.4% to 1.01-million tonnes.
MUNICH & DAR ES SALAAM, Tanzanie–(BUSINESS WIRE)–REDAVIA, un leader mondial du marché de l’énergie solaire économique en location pour les entreprises et les communautés, a démarré l’exploitation de sa ferme solaire – composée de huit conteneurs – à la mine New Luika de Shanta Gold située dans le district de Chunya, en Tanzanie. Avec la ferme solaire initiale, composée d’un conteneur et déployée en 2014, Shanta Gold a rapidement profité d’avantages : environ 100 000 kWh ont été produits en éc
MUNICH & DAR ES SALAAM, Tanzania–(BUSINESS WIRE)–REDAVIA, líder del mercado mundial de energía solar rentable para empresas y comunidades, ha arrancado las operaciones de su granja solar de ocho contenedores en la mina New Luika de Shanta Gold en el distrito de Chunya (Tanzania). Con la primera planta solar de un contenedor, desplegada en 2014, Shanta Gold rápidamente experimentó los beneficios, ya que generó alrededor de 100.000 kWh con ahorros energéticos de 28.000 litros y una reducción de
DUBLIN–(BUSINESS WIRE)–The “Global Precipitated Calcium Carbonate (PCC) Market 2017-2021” report has been added to Research and Markets’ offering. The global precipitated calcium carbonate market to grow at a CAGR of 5.63% during the period 2017-2021. The report, Global Precipitated Calcium Carbonate (PCC) 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 y
South African petrochemicals group Sasol said on Tuesday it expected its full-year headline earnings to fall as much as 21%, hit by lower oil prices and a stronger rand currency. Sasol said headline earnings per share for the year to end June are expected to decrease by between 11% and 21% from R41.40 ($3.20) in the prior year.
Russian gold and silver producer Polymetal said on Tuesday its second-quarter revenue rose 26% year-on-year to $385-million due to an increase in production and higher sales of gold.
The company, part-owned by businessman Alexander Nesis, said its gold equivalent production, a mixture of gold and other metals, rose by 6% over the same period to 278 000 troy ounces.
ASX-listed junior Matsa Resources has started mining at its Fortitude gold project, in Western Australia.
A February study into trial mining at the Fortitude project revealed that for a cash injection f A$1.2-million, Matsa could produce some 185 000 t of ore, grading at 2.2 g/t gold for 12 100 oz of gold.
Kumba Iron Ore chairperson Fani Titi is to step down from the board the Johannesburg stock Exchange-listed mining company from September 30 and will be replaced by Dr Mandla Gantsho, who has been appointed as chairperson designate. Gantsho will join the board on August 1 and will succeed Titi on October 1, after a handover period of two months.
MÜNCHEN & DAR ES SALAAM, Tanzania–(BUSINESS WIRE)–REDAVIA Commissioned Tanzania’s Largest Solar Farm for Shanta Gold
MUNICH & DAR ES SALAAM, Tanzania–(BUSINESS WIRE)–$SHG #Redavia–REDAVIA Commissioned Tanzania’s Largest Solar Farm for Shanta Gold
Australia has sent its first uranium shipment to India for testing purposes ahead of possible commercial sales to the nation, Foreign Minister Julie Bishop said.
“I can confirm that the first shipment of uranium has taken place in mid-July, when a small sample of uranium was transferred for testing purposes,” Bishop said in an emailed statement on Saturday.
ASX-listed Bassari Resources has been granted a Presidential Decree for its Makabingui gold project, in Senegal.
The company said on Monday that the decree validated the terms of the Makabingui exploration permit, which was issued by the Mines Department and signed by the Minister of Mines and Geology.
ASX-listed Altona Mining has abandoned joint venture (JV) agreement with Sichuan Railway Investment Group (SRIG) over the Cloncurry project, in north-west Queensland, after the Chinese group failed to secure regulatory approval for the transaction.
Altona already granting SRIG an extension to July 21 to obtain the necessary Chinese regulatory approvals to execute a subscription deed, and said on Monday that it would not give a further extension. Instead, the company would look for alternative transactions with a third party.
The administrators of embattled uranium miner Paladin Energy have secured some $40-million of additional debt, announcing on Monday that they had entered into agreements with Deutsche Bank.
Under the agreements, Deutsche Bank would acquire an existing $20-million revolving credit facility from Nedbank, and would increase this to $60-million.
The Tanzania Revenue Authority (TRA) has issued two Acacia Mining subsidiaries with adjusted tax assessments totalling nearly $200-billion in alleged unpaid taxes, penalties and interest owed.
This is the latest blow to the operator whose first-half performance this year has been severely impacted by the government’s blunt export ban on concentrate exports from the Bulyanhulu and Buzwagi mines.
Vanadium producer Largo resources has reached an agreement in principle with its lender Banco Pine to convert and restructure about $33-million of debt facilities, the company said on Monday.
The Toronto-headquartered miner advised that its subsidiary Vanádio de Maracás has signed a non-binding term sheet with Banco Pine to convert an existing $4.43-million credit facility to common shares of the company. The parties will also renegotiate the repayment schedule for a Largo-guaranteed $23.3-million credit facility, including accrued interest, between Vanádio and the lender, which will result, upon fulfilment of certain payment milestones, the long-term restructuring of the Brazilian real denominated facility.
Zinc producer Trevali Mining has demonstrated the significance of adding two new African mines, with pro-forma second-quarter results showing that 63% of the zinc-equivalent payable pounds were contributed from Rosh Pinah (Namibia) and Perkoa (Burkina Faso).
Both assets are being acquired from Glencore under definitive agreements announced in March, and with an effective date of April 1. However, finalising the new $190-million debt facility and regulatory items will extend closing of the acquisition of the African mines to August 31.
LONDON–(BUSINESS WIRE)–#MetalsandMinerals–Technavio has announced the top five leading vendors in their recent global metal powders market from 2017-2021.
Canada’s main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold lost nearly 5% after a company it majority owns, Acacia Mining, was hit with a bill for $190-billion in unpaid taxes in Tanzania.
Railway stocks, big banks and pipeline and other energy stocks also put pressure on the index, which unlike most major global stock indices is trading lower than where it ended 2016.
Junior explorer Mirasol Resources says it has discovered three large-scale porphyry copper/molybdenum/gold targets, and also expanded its claim holdings, at the 100% owned Rubi project, placed next to the giant El Salvador copper mining district, in northern Chile.
Mirasol recently completed field evaluation and targeting programs at Rubi identifying three large-scale targets at the Lithocap, Zafiro, and Portezuelo prospects. The targets were defined by integrated analysis, including re-logging of drill holes and by re-interpreting geophysics and geochemistry from previous its joint venture partner’s exploration at Rubi. This, combined with recent Mirasol geological mapping, rock chip sampling and target vector modelling from field-based measurements of alteration minerology, delivered the new discoveries.
Rough diamonds enabled Abdoul Raouf to marry three women and put his nine children through school. Now that his town in western Central African Republic can legally export the gems to world markets again, his neighbors are expecting similar fortunes. “Diamonds are my life,” said Raouf, who trades the stones bought from artisanal miners in the town of Gamboula, near the border with Cameroon and a 10-hour drive to the capital, Bangui. “It’s because of diamonds that I can take care of my family.”
Australian gold miner Newcrest Mining has reported lower fourth-quarter and full year gold production, following disruptions at the Cadia East operation, in New South Wales.
Gold production during the three months to June was down 7.8% on the previous quarter, to 552 000 oz, while full-year production was down 2.4% to 2.38-million ounces.
The Australian Petroleum Production & Exploration Association (Appea) has again warned against plans to restrict gas exports to boost domestic supply. The warning comes as Resources Minister Matt Canavan gave formal notice to liquefied natural gas (LNG) producers that he would consider whether 2018 would be a gas shortfall year under the Australian Domestic Gas Security Mechanism (ADGSM).
Chile’s Antofagasta has signed a wage deal with workers at its Zaldivar copper mine, the company and the union said on Monday, calming fears of a possible labour action.
“The new contract recognises the benefits that the workers had and, additionally, puts a decided emphasis on the productivity of the company,” mine manager Leonardo Gonzalez said in a statement.
TORONTO–(BUSINESS WIRE)–Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) today announced consolidated production and operating cost results for the second quarter of 2017 and individually for its Cosalá Operations and Galena Complex. All figures are in U.S. dollars unless otherwise indicated. Second Quarter Highlights Consolidated silver production for the quarter of approximately 558,000 silver ounces and 1.2 million silver equivalent1 ounces, re
The Minerals Council of Australia (MCA) believes Australia’s complex system for sharing nearly A$60-billion in goods and services tax (GST) revenues between the states and territories is broken as evidenced by the fact that Western Australia loses more GST than it collects in iron-ore mining royalties.
Western Australia is budgeting to collect A$4.38-billion in iron-ore royalties in 2017/18; however, under the Commonwealth Grants Commission’s (CGC) assessment of mining revenues, A$4.52-billion in GST funding will be taken away from Western Australia this financial year.
Platinum mining company Anglo American Platinum (Amplats) reported on Monday that it has been able to further strengthen its balance sheet in the six months to June 30, despite the weaker rand basket prices in the period. In generating R4.3-billion in underlying operating cash flow, Amplats was able to cut net debt to R5.9-billion from R7.3-billion at the end of 2016.
Russia-focused gold miner Highland Gold has reaffirmed its production forecast of 255 000 oz to 265 000 oz for 2017, after reporting higher first-half production.
The Aim-listed company, which owns the Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora operations, produced 131 784 oz of gold and gold equivalent in the first six months of the year, compared with 128 671 oz in the prior-year period.
Philippine President Rodrigo Duterte on Monday said he wanted to stop exporting mineral resources and might close the mining sector completely and tax miners “to death” if damage to the environment persisted.
“The protection of the environment must be made a priority ahead of mining and all other activities that adversely affect one way or another,” Duterte said in his State of the Nation address, his second since assuming power in June last year. “This policy is non-negotiable.”
Gold, copper and silver miner Anglo Asian is on schedule to produce the first ore from its Ugur deposit – a new mineral resource 3 km west of its Gedabek licence in western Azerbaijan – in the fourth quarter of this year.
The deposit, which was discovered last year, provided the company with an “easily mineable” orebody, said group director of geology and mining Stephen Westhead.
Diamond miner Petra Diamonds has tabled a production guidance for the 2018 financial year of between 4.8-million and five-million carats, up 23% on the year ended June 30, 2017, on the back of the continued roll-out of expansion programmes. With continual increases in production, the company set a further guidance of between five-million and 5.3-million carats for the 2019 financial year.
London-based Rio Tinto has signed a memorandum of understanding (MoU) with the government of Serbia to progress the development of a deposit containing one of the 21st Century’s hottest commodities – lithium.
The MoU sets out how the Jadar project could be moved forward, with joint working groups to be established to move the project through the study and permitting phases.
OTTAWA, Ontario–(BUSINESS WIRE)–Today’s global population is closing in on the 7 billion mark. By 2050 it is predicted to grow to over 9 billion people. This exponential growth brings with it enormous challenges as 9 billion people will require new medicines, food, energy, and material goods. This growth and its corresponding demands, require more efficient and effective ways to deliver health care, grow food and manufacture goods. There is enormous opportunity for Canada’s biotechnology indu
Civil rights body, the Organisation Undoing Tax Abuse (Outa), on Monday laid a charge of treason against Mineral Resources Minister Mosebenzi Zwane, for allegedly “actively aiding State capture and causing massive financial loss to South Africa”. Outa laid charges of treason, corruption, extortion, fraud and theft against Zwane at the Randburg police station in Johannesburg.
