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....
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...