Phoenix Global Mining, which is reopening a US copper mine abandoned during World War II when its workforce left to fight, plans to list in New York in September after a disappointing launch on London's AIM market. The London market is dominated by institutional investors and junior miners trading on the AIM market for smaller companies have often struggled.
Aim-listed Cradle Arc’s share price tumbled 28% on Wednesday after the company lowered its 2018 production guidance and detailed the operational difficulties that it faced at its 60%-owned Mowana copper mine, in Botswana. The mine’s revised guidance for 2018 is to produce 4 000 t of copper in the second half, of which only 1 000 t will be produced in the third quarter and 4 000 t in the final quarter of the year.
Last month’s initial public offering (IPO) on the New York Stock Exchange of Bloom Energy suggests a second, much larger market may be emerging for fuel cells, Greentech Media reported this week in an article recording the deployment of Bloom’s technology at 25 Fortune 100 companies. The enlarging market for platinum-using hydrogen fuel cells, which convert chemical energy into electricity ultra cleanly and very quietly, is being accompanied by the devices increasing their electrical efficiency,... Читать дальше...
A leading electricity expert is warning that there is little or no prospect that Eskom can trade itself out of its current financial difficulties and that restructuring – including a vertical separation of its cash-guzzling generation assets from its transmission, system operator and distribution units – is now both urgent and practically implementable. Likening the generation business to a ‘bad bank’, University of Cape Town Graduate School of Business’ Professor Anton Eberhard argued this week... Читать дальше...
Aim- and AltX-listed Kibo Energy has entered into an expanded collaboration agreement with US-based General Electric (GE). Under the terms of the agreement, GE will work with Kibo to develop its portfolio of energy projects in Tanzania, Botswana and Mozambique, as well as enhance its strategy of delivering energy solutions to alleviate the continent's energy shortage.
Copper prices have recovered from a recent rout, but the possibility of the trade dispute between the Washington and Beijing escalating and its potential to crimp demand in China, the world's top consumer, is expected to cap gains. Benchmark copper on the London Metal Exchange at $6 100 has climbed nearly 6% since crashing to a 14-month low of $5 773/t on August 15.
On Chilean water regulator Oscar Cristi's desk, a small white espresso cup teeters atop piles of documents and loose folders that appear on the point of collapse, perhaps an apt metaphor for the growing water crisis in parts of the Andean country. Sitting in his eighth-floor office adjacent the presidential palace, Cristi, a PhD economist, lays out a map of Chile showing key watersheds for mining. Swaths of the mineral-rich north are colored blue, denoting areas where aquifers are over-exploited.
Coal miner Wescoal will repurchase up to R20-million worth of its own shares. The company on Wednesday said the share repurchase was being undertaken in terms of the general approval granted by shareholders at the company's annual general meeting in November 2017.
This week Master Drilling to launch new technology, Southern Palace is accelerating mining technology development in South Africa and, Sibanye-Stillwater commits to take safety to the next level. Mining Weekly editor Martin Creamer unpacks the headlines.
The Pumpkin Hollow project will move into full-scale construction mode, after the Nevada Copper board on Tuesday announced a construction decision for the $197-million underground copper project, near Yerington, in the US. The transition from preconstruction works to full-scale activities will enable TSX-listed Nevada Copper to meet its stated deadline of first copper production from the mine in 2019.
ASX- and JSE-listed Orion Minerals aims to reopen the Prieska zinc/copper project, in South Africa’s Northern Cape, in 2020. Orion MD Errol Smart told delegates attending the Africa Downunder conference being held in Perth, this week, that the 12-month bankable feasibility study (BFS) for the project should be completed next quarter.
Last week’s Supreme Court of British Columbia ruling denying a First Nation’s legal challenge seeking to overturn an exploration permit for the New Prosperity project is seen as important for future resource projects in the province, base metals miner Taseko Mines president and CEO Russell Hallbauer said on Tuesday. The court decision, delivered on Thursday, allows Taseko to proceed with investigative work at the New Prosperity site.
ASX-listed MOD Resources is expected make a decision to mine its T3 copper project, in Botswana, in by the end of March next year, with first production targeted for late 2020. MOD MD Julian Hanna told delegates at the Africa Downunder conference, in Perth, that an updated feasibility study for the project is expected early in 2019.
Diversified miner Independence Group has reported record revenue and underlying earnings before interest, tax, depreciation and amortisation (Ebitda) for the 2018 financial year, as the Nova nickel operation delivered its first full year of production. Revenue for the year increased from A$422-million in 2017, to A$781-million in the year ended June 30, while underlying Ebitda reached A$339-million, up from the A$151-million in the previous financial year.
Dual-listed gold recovery company DRDGold expects to report earnings per share (EPS) of between 1.18c and 1.82c apiece for the financial year ended June 30, compared with earnings of 3.2c in the prior comparable period, which represents a decrease of between 43% and 63%. The company expects headline earnings per share (HEPS) to be between 1.53c and 1.87c, compared with 0.2c apiece for the prior comparable period.
A revised feasibility study into the Tala Hamza zinc/lead project, in Algeria, has shown that the project could recover some 129 300 t/y of zinc concentrate and 26 000 t/y of lead concentrate over a mine life of 21 years. ASX-listed Terramin Australia on Wednesday reported that a pre-production capital investment of A$449-million would be required, with the project’s post tax net present value estimated at A$399-million and its internal rate of return at 14%, based on a zinc price of $1.25/lb and... Читать дальше...
Canadian miner Teck Resources Ltd will begin work in November on a $4.8-billion phase 2 project at its Quebrada Blanca copper mine in northern Chile, Chile's Mines Minister said on Tuesday. The company received environmental approval for the plan earlier this month, which aims to extend the life of the aging deposit by 25 years and boost production to 300 000 t of copper annually.
