Mining Weekly
Vedanta-Konkola liquidation case adjourned to June 4 – lawyer
Fri, 24 May 2019 12:43:00 +0200
A court hearing between Vedanta, its Konkola Copper Mines business (KCM) and the Zambian government over control of KCM, was adjourned on Friday until June 4, a lawyer said. Vedanta is fighting the government's attempt to seize KCM, which is one of the biggest employers in Zambia, Africa's second largest copper producer.
B2Gold dismisses reports of Zim gold mine acquisition
Fri, 24 May 2019 12:26:00 +0200
Canadian miner B2Gold CEO Clive Johnson has dismissed reports about the company acquiring a gold mine in Zimbabwe, stating on Friday that the company was “not pursuing material developments or production mergers or acquisitions”. He reiterated B2Gold’s long-term growth strategy. “In addition to developing our existing pipeline of projects, we continue our pursuit of significant exploration opportunities in a number of countries.
Taseko’s Gibraltar GM named MABC mining person of the year
Fri, 24 May 2019 11:57:00 +0200
The Mining Association of British Columbia (MABC) has named Richard Tremblay, VP and general manager at Taseko’s Gibraltar mine, as the 2018 Mining Person of the Year. The 2018 award honours Tremblay’s dedication and leadership within the industry, advancing research, management and community outreach.
Strandline raises cash for mineral sands work
Fri, 24 May 2019 10:26:00 +0200
Mineral sands miner Strandline Resources will raise A$5.5-million for project works in Western Australia and Tanzania. The company will issue 46-million shares, priced at 12c each, to institutional and sophisticated investors, with shareholder Tembo Capital set to take part in the placement.
Tyranna has Eureka moment in WA
Fri, 24 May 2019 10:12:00 +0200
An independent study into the re-start of the Eureka gold project, in Western Australia, has proven that it could be a viable cash flow opportunity for owner Tyranna Resources. The restart study estimated that some 2 000 oz of gold could be recovered over a one-month mine life, generating free cash flows of some A$1.6-million. The project will likely require a capital investment of A$600 000 to allow for a restart, Tyranna said on Friday.
Stoppage at Newmont Goldcorp mine costs Mexico millions daily - Minister
Fri, 24 May 2019 10:06:00 +0200
Ongoing stoppages at Newmont Goldcorp Corp's Penasquito gold mine in Mexico are costing "millions" every day to both public coffers and the company, a Mexican Minister said on Thursday, urging a solution that will restart operations. Speaking to reporters in Mexico City, Francisco Quiroga, the deputy economy minister responsible for mining, said he wanted operations at the country's largest gold mine to continue.
NT sets fracking borders
Fri, 24 May 2019 10:05:00 +0200
The Northern Territory government on Friday released no-go zone boundaries that will remain free from hydraulic fracturing exploration or production. As part of recommendations from the Scientific Inquiry into Hydraulic Fracturing in the Northern Territory, areas exempt from petroleum activity will cover 48.44%, or 654 900 km2 of the Territory.
Freeport-McMoran sells Finland cobalt refinery
Fri, 24 May 2019 09:59:00 +0200
Phoenix, Arizona-headquartered Freeport-McMoran (FCX) has announced an agreement to sell its Kokkola cobalt refinery and related cobalt cathode precursor business to Begium’s Umicore for about $150-million, plus working capital at the time of close. Toronto-listed Lundin Mining is a joint venture (JV) partner in the cobalt business and will receive 30% of the proceeds.
Bartons delays hits Millennium balance sheet, production forecast
Fri, 24 May 2019 09:57:00 +0200
Gold miner Millennium Minerals has reached an in-principle agreement with shareholder IMC Group for a A$20-million mezzanine debt facility to provide working capital as delays at the Bartons underground and the sulphide plant at Nullagine, in Western Australia, continued. The gold miner on Friday amended the production forecast for 2019, from the previous guidance of between 90 000 oz and 100 000 oz, to between 80 000 oz and 90 000 oz, with all-in sustaining costs for the period expected to increase from the previous estimate of between A$1 300/oz and A$1 375/oz, to between A41 370/oz and A$1 450/oz.
Myanmar raises A$20m
Fri, 24 May 2019 09:49:00 +0200
Metals developer Myanmar Metals will raise A$20.8-million through a share placement to institutional investors. The ASX-listed company on Friday reported that had received firm commitments for the placement of more than 319.9-million shares, at a price of 6.5c each from domestic and international institutional investors.
Mincor raises cash for nickel restart
Fri, 24 May 2019 09:46:00 +0200
Nickel hopeful Mincor Resources will raise A$23-million through a share placement and share purchase plan (SPP) to fast track its plans to restart nickel sulphide mining in the Kambalda district, in Western Australia. Mincor earlier this week struck a A$9.5-mllion deal to acquire the Long nickel operation from fellow-listed Independence Group, adding some 32 000 t of contained nickel to its portfolio and consolidating the company’s land-holding in Kambalda.
Palaszczuk gives June 13 deadline for Adani approvals
Fri, 24 May 2019 09:44:00 +0200
Queensland Premier Annastacia Palaszczuk on Friday said that Indian major Adani’s two outstanding management plans for its multi-billion dollar Carmichael project should be resolved by June 13. The deadline comes after the Premier earlier this week called a meeting between Adani, the Coordinator-General and the state’s environmental departments to hash out plans to finalise the two outstanding environmental management plans, including the groundwater management plan, which was earlier approved by the federal government, and a management plan for the endangered black-throated finch.
Zambia's mines minister orders regular audits at all mines
Fri, 24 May 2019 08:58:00 +0200
Zambia will carry out regular audits at all mines to avoid any repeat of the situation at Vedanta unit Konkola Copper Mines (KCM), which has breached the terms of its licence, the mining ministry said on Thursday. Zambian President Edgar Lungu said on Monday the government planned to strip KCM of its mining licence and bring in a new investor. His spokesman said the move followed a number of breaches of the terms of the licence, without giving details.
Canadian miner said to be in talks to buy Zimbabwe gold project
Fri, 24 May 2019 08:50:00 +0200
Canada-based B2Gold is considering buying an idled Zimbabwean gold mine – if it can be exempted from a law that requires producers to sell all the metal to the country’s central bank, people familiar with the situation said. Securing an exemption may open the way for further investment by gold producers in the southern African nation, where a number of companies have closed mines because of the sales requirements and Zimbabwe’s economic crisis.
Mining Charter III provisions seen by some as too onerous for junior miners
Fri, 24 May 2019 08:00:00 +0200
There should be a new regulatory regime for juniors – one that adheres to the spirit of Mining Charter 3, but which introduces reasonable and achievable transformation and procurement targets relative to the size and financial constraints of junior and emerging miners, says Eversheds Sutherland mining head Warren Beech. This proposition is echoed by South African Diamond Producers Organisation chairperson (SADPO) Gert van Niekerk, who states small or Junior alluvial diamond mining industry has experienced steady decline since 2004 when the Mineral and Petroleum Resources Development Act (MPRDA) was implemented, and that further harm will occur as a consequence of Charter 3 and most of all the implementation guidelines. 
Mining Weekly iPhone and Android Apps available for free download
Fri, 24 May 2019 00:00:00 +0200
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India’s SCCL developing greenfield underground coal mine
Thu, 23 May 2019 19:24:00 +0200
Moving against a general trend among Indian miners of closing down underground mines, State-run Singareni Collieries Company Limited (SCCL) has started work on developing a new underground mine in the southern state of Telangana. SCCL will develop the Kalyani Khani-6 Incline block in Telangana with estimated extractable reserves of 15.65-million tons through a new underground mining project carved out of the Mandarmarri block.
McEwen declares commercial production at Gold Bar, appoints new Nevada GM
Thu, 23 May 2019 16:56:00 +0200
NYSE- and TSX-listed McEwen Mining has reached commercial production at its Gold Bar mine, which is under the supervision of its new Nevada general manager (GM), Jack Henris. Henris joined McEwen from Goldcorp, where he was VP of mining and geotechnical. His appointment is aimed at driving operational improvement, the company said in a statement on Thursday.
Afrimat’s diversification contributes to strong full-year results
Thu, 23 May 2019 16:24:00 +0200
Industrial minerals and construction materials group Afrimat has recorded a good overall performance for the year ended February 28, and achieved positive results for the period owing to its diversification strategy, Afrimat group CEO Andries van Heerden said in a statement on Thursday. The group’s entry into bulk commodities two years ago was highlighted as having been well-timed, given that it contributed considerably to its sustained earnings growth in the year under review.
Aura produces first uranium samples
Thu, 23 May 2019 16:19:00 +0200
Aim- and ASX-listed Aura Energy has produced its first samples of yellowcake product, as part of its Tiris uranium project’s definitive feasibility study (DFS). The company said in an announcement on Thursday that the product was regarded as saleable, with impurity levels in the product within the acceptable levels relative to ASTM International standards.