Mining Weekly
TFR to start yearly iron-ore line shutdown on September 26
Mon, 23 Sep 2019 12:15:00 +0200
The yearly shutdown of State-owned Transnet Freight Rail’s (TFR’s) iron-ore rail line is planned to start on September 26 and end on October 5. The maintenance window presents an opportunity for the entity to catch up on maintenance backlogs, such as replacing old and obsolete infrastructure, while accelerating the major capital expansions in line with the expected volume growth on the iron-ore line.
Power Metals continues to make good progress at its African projects
Mon, 23 Sep 2019 11:48:00 +0200
In spite of market conditions, Aim-listed Power Metals Resources, headed by Paul Johnson, has continued to make good progress with its exploration projects in Africa as it pursues its key strategic objective of finding large-scale metal discoveries. In Botswana, the company has an 18.26% stake in Kalahari Key Mineral Exploration (KKME), which owns the Molopo Farms Complex (MFC).
Rubicon to raise up to C$12m for Ontario exploration
Mon, 23 Sep 2019 10:53:00 +0200
TSX-listed Rubicon Minerals on Friday announced a private placement of shares to raise between C$8-milion and C$12-million for continued exploration and development of its Phoenix gold project, in the Red Lake gold district of Ontario.
Matsa raises funds for WA exploration
Mon, 23 Sep 2019 10:38:00 +0200
Junior Matsa Resources has raised A$6-million to fund exploration at its Red October and Lake Carey operations, in Western Australia. Matsa issued 40-million fully paid shares, at a price of 15c each, under its existing placement capacity to a range of new institutional and sophisticated investors.
Peabody stock tumbles, says committed to Arch Coal JV
Mon, 23 Sep 2019 10:37:00 +0200
US coal miner Peabody’s share price fell to an all-time low on Friday, after the St Louis-based company announced the previous day that it was terminating a cash tender offer to buy back $1-billion in debt. The company on Thursday terminated its cash tender offers, noting that, “at this particular time, debt markets do not accommodate a path towards completing the offers and achieving the company’s refinancing objectives in an economic fashion”.
BHP expects to meet iron ore commitments despite Jimblebar maintenance
Mon, 23 Sep 2019 10:29:00 +0200
BHP Group said on Monday it expects to meet all customer commitments on iron ore shipments, despite maintenance at its Jimblebar and Newman mines in Western Australia. "There has been a minor impact to production at Newman and Jimblebar due to maintenance, however this is not expected to impact outflow from Port Hedland," the company said in emailed comments.
Premier continues prospecting order application talks, chairperson resigns
Mon, 23 Sep 2019 10:21:00 +0200
Michael Foster has resigned as nonexecutive director and chairperson of Premier African Minerals. CEO George Roach will, strictly for 30 days, act as interim chairperson in an effort to continue supporting Premier’s efforts in the restructuring and diversification of both country and commodity risk, with Premier’s principal focus being the need for a cash-generative asset.
Fission underground-only PFS slashes capex
Mon, 23 Sep 2019 10:14:00 +0200
British Columbia-based Fission Uranium on Monday outlined the potential for “highly economic “ production at the Patterson Lake South (PLS) project in the Athabasca basin of Saskatchewan by focusing on an underground-only mining scenario. Shifting to an underground-only option, as opposed to the hybrid mine approach of underground and openpit mining outlined in an earlier PFS, Fission has reduced the construction timeline of the mine at the Triple R deposit at PLS by one year and slashed the capital costs by one fifth, while still enjoying a strong return on investment.
Australian Vanadium completes raising
Mon, 23 Sep 2019 09:56:00 +0200
ASX-listed Australian Vanadium has raised A$6.6-million through a share placement and share purchase plan (SPP) to advance its namesake project, in Western Australia. The SPP, which was announced in August this year, was well supported and raised A$5.2-million. The SPP allowed eligible shareholders to apply for up to A$15 000 worth of new shares in Australian Vanadiu
MGX eyes vertically integrated vanadium battery JV
Mon, 23 Sep 2019 09:38:00 +0200
Canadian resource and technology company MGX Minerals has announced a partnership with publicly traded company DST to create a joint venture as part of the formation of a vertically integrated vanadium redox battery supplier. The companies entered into a letter of intent to advance a sedimentary-bearing vanadium deposit in South Korea and to develop a manufacturing facility for vanadium batteries and energy storage systems.
Zambia’s new tax regime exacerbating mining challenges – report
Mon, 23 Sep 2019 09:38:00 +0200
Zambia’s new tax regime has significantly increased the tax burden on mining companies, making the sector unsustainable and uncompetitive, states a report co-authored by Premier Consult Professor Oliver Saasa and The Zambia Institute for Policy Analysis and Research’s (Zipar’s) Shebo Nalishebo. According to the authors, Zambia has the highest tax burden of all comparable mining countries, and that under the new fiscal regime for the mining sector, the effective tax rate would vary between 86.3% and 105% depending on the copper price.
Hot Chili raises funds for Cortadera
Mon, 23 Sep 2019 09:34:00 +0200
South America-focused Hot Chili will raise A$12.1-million through a share placement to sophisticated and professional investors, to fund work at its copper/gold project, in Chile. The share placement, which will be priced at 3.6c a share, will be undertaken in two tranches, with the first consisting of 325-million shares to be issued under Hot Chili’s existing placement capacity.
Mkango subsidiary mulls investment in rare earth magnet recycling company
Mon, 23 Sep 2019 09:32:00 +0200
Aim- and TSX-V-listed Mkango Resources and its subsidiary Maginito have signed an investment term sheet and one-year exclusivity agreement with rare earth magnet recycling company HyProMag. Consistent with Maginito’s strategy, the rationale for the transaction includes potential synergies, such as the blending of primary rare earth production originating from the Songwe Hill mine, in Malawi, with recycled production from HyProMag, as well as enhanced marketing flexibility and access to downstream markets for rare earths permanent magnets, which are materials for electric vehicles, wind turbines, consumer electronics and other technology applications.
Scoping confirms Burbanks potential
Mon, 23 Sep 2019 09:09:00 +0200
A scoping study into the Burbanks gold project, in Western Australia, has confirmed that some 145 700 oz of gold could be recovered from an underground operation. The scoping study was based on a Joint Ore Reserves Committee compliant mineral resource of 1.2-million tonnes, grading at 3.7 g/t gold.
State of emergency in Red Lake
Mon, 23 Sep 2019 09:06:00 +0200
The municipality of Red Lake, in Ontario, has declared a state of emergency following a severe storm on Friday. Extreme wind conditions had damaged municipal infrastructure and resulted in a loss of hydro electricity, Mayor Fred Mota said on Saturday, announcing the state of emergency.
Echo offer now unconditional - Northern Star
Mon, 23 Sep 2019 08:48:00 +0200
Gold miner Northern Star has declared its 33c a share cash takeover offer for Echo Resources to be unconditional. Northern Star in August launched the A$242.6-million offer for Echo, which olds the Yandal gold project, in Western Australia.
Leader of militant South African mining union re-elected
Mon, 23 Sep 2019 08:26:00 +0200
South Africa's Association of Mineworkers and Construction Union (AMCU) on Friday re-elected as its president Joseph Mathunjwa, known for his uncompromising stance in bruising strikes on the platinum belt. Mathunjwa, who was elected uncontested at the union's first elective conference since 2013, has been at the helm of AMCU since it was officially registered in 2002.
Aussie miners band together on tailing solutions
Mon, 23 Sep 2019 08:17:00 +0200
Australian mining companies have committed to the safe and responsible management of tailings storage facilities, with members of the Minerals Council of Australia (MCA) releasing a communiqué detailing a programme of training, research and governance actions currently in development. The MCA on Monday said that opportunities would be identified to build industry expertise and enhance technical capacity on tailings management for the minerals workforce.
Coordinated action needed along battery value chain to reduce emissions
Mon, 23 Sep 2019 08:00:00 +0200
The use of batteries could reduce global emissions in the transport and power sectors by 30% by 2030, the World Economic Forum’s Global Battery Alliance outlines in a new report, titled ‘A Vision for a Sustainable Battery Value Chain in 2030’. According to the report, this  will create about ten-million jobs and add $150-billion to the global economy, while simultaneously providing electricity to 600-million people.
Miners must adapt to stay relevant, says Aspasa
Mon, 23 Sep 2019 08:00:00 +0200
The world is changing and miners, in many instances, will need to adapt their practices and product offerings to stay relevant, says Aggregate and Sand Producers Association of South Africa (Aspasa) director Nico Pienaar. He explains that years of tough trading conditions have reshaped the South African and global economies and that tightening legislation surrounding health and safety, as well as environmental and sustainability issues, have added to miners’ compliance and financial pressures.