Month: December 2018

South Africa's Transnet hopes to re-open one closed coal export line on Saturday

JOHANNESBURG – South Africa’s Transnet hopes to re-open on Saturday one of two closed coal export lines linking mines to the Richards Bay export terminal after it was closed following a train derailment, the state-run freight company said on Friday....

/ December 22, 2018

Eight months and millions later, Anglo American restarts Minas Rio mine

Global miner Anglo American (LON:AAL) has resumed operations at its giant Minas Rio iron ore mine in Brazil after eight months of closure following the discovery of a leak in a pipeline that carries ore to a port in Rio...

/ December 22, 2018

Asia Gold – Higher prices and holiday season keep buyers at bay

* Gold discounts narrow in India * Activity quiet in China, Singapore, Hong Kong * Prices in Japan on par with benchmark gold for 14th week MUMBAI/BENGALURU – Demand for physical gold was tepid across major buying centres in Asia...

/ December 22, 2018

Barrick Gold cuts jobs, director Munk to step down – Globe and Mail

Barrick Gold Corp has laid off more than half of its staff at the company’s Toronto head office, while its long serving director Anthony Munk is stepping down, the Globe and Mail reported on Friday. Munk, who is Barrick Gold...

/ December 22, 2018

Indian billionaire's Australian mine plans face further delay

Gautam Adani’s long quest to build a coal mine in the Australian outback faces another setback, with the Queensland state government refusing to sign off on the company’s plans before further studies into the project’s environmental impact are complete. “Two...

/ December 22, 2018

BMO Digs deeper in mining during a ‘transition’ year for bank

BMO Capital Markets’ metals and mining division faced upheaval this year after losing its two veteran co-heads during an already tough time for the resource industry. Its new leaders aim to prove the investment bank remains as strong as ever...

/ December 22, 2018

Bechtel opens mining innovation center in Chile

American engineering company Bechtel, ranked #11 on Forbes’ America’s private company list for 2018,  announced this week that it opened the Bechtel Mining & Metals Innovation Center  in Chile with the goal of developing new technologies that boost productivity, promote environmental...

/ December 22, 2018

AMCU strike at Sibanye-Stillwater legal – South African court

JOHANNESBURG – A court has found that a strike by a union representing just under half of all workers at Sibanye-Stillwater’s South African gold operations is legal, despite the company declaring otherwise last week. South Africa’s Association of Mineworkers and...

/ December 22, 2018

Indian court orders Vedanta to not reopen copper smelter for a month – petitioner

NEW DELHI – An Indian court on Friday said Vedanta cannot reopen its South Indian copper smelter until its hears a case challenging an order by the country’s environment court which provided relief to the conglomerate, the petitioner in the...

/ December 22, 2018

Lucapa Diamond locks in Mothae mine funding

Australia’s Lucapa Diamond (ASX:LOM) has locked in 100 million rand (about $7m) in development funding from South Africa’s Industrial Development Corporation (IDC) for its 70%-owned Mothae, in Lesotho. Commercial production at the mine, which the Perth-based company acquired in early...

/ December 22, 2018

China aluminium firms to cut 800,000t of capacity in coming months – official

* China’s top aluminium smelters meet in Guangxi amid price slump * Attendees to cut more than 800,000 T in coming months -official * Firms say operating pressure reaching ‘extreme limit’ -Antaike * Meeting failed to send bullish signal to...

/ December 22, 2018

Vancouver’s ePower Metals buys Magenta cobalt project in Mexico

ePower Metals (TSXV: EPWR) announced it has entered into a definitive agreement to buy Exploracion Auramex S.A. de C.V. and its Magenta cobalt project from Bowering Projects for $150,000 and 2,500,000 common shares. In a press release, ePower Metals explained...

/ December 22, 2018