Dual-listed Harmony Gold on Thursday announced changes to the composition of some of its board committees, with immediate effect. Joaquim Chissano had resigned as a member of the nomination committee, and Vishnu Pillay was appointed as a new member of the committee.
India’s Coal Ministry is likely to adopt revenue sharing contracts for next month’s commercial mining coal block auction. The Ministry is expected to announce auction rules soon incorporating revenue sharing model contracts for successful bidders, with domestic miners and global resource majors expected to participate in the competitive bidding.
The unusual “diamond in a diamond” that Russian miner Alrosa mined earlier this year, will not be put up for sale and will remain in the company’s collection of rare finds. The collection already includes a skull-shaped rough diamond and a football-shaped rough diamond that were mined in recent years.
Copper miner Atalaya Mining is confident of meeting its stated production rates during the fourth quarter, as its Proyecto Riotinto mine, in Spain, now has the required additional electricity capacity to achieve its expanded throughput rate. The company previously said that reaching the throughput rate of 15-million tonnes a year was slightly delayed, owing to the need for additional electricity supply.
Namdeb, a joint venture between the Namibian government and Anglo American's diamond unit De Beers Group, said on Thursday it was in talks with the government about tax breaks to extend its land-based operations beyond 2023. Diamond mining is the largest taxpayer in Namibia and generates 20% of the Southern African country's export earnings.
Australia’s mid-tier mining sector has reached its highest total market capitalisation since the boom times of 2011, with the ‘quiet boom’ driven by favourable commodity prices and some good investment decisions over the last year, a new PwC report has shown. The ‘Aussie Mine’ report, which analyses the 50 ASX-listed mining companies (MT50) with market values under $5billion, states that the market the cap for the MT50 increased by 9% to $64-billion.
Australian Prime Minister Scott Morrison has vowed to speed up the environmental approval process for projects, which he says are “overly complex, duplicative and taking too long”. In a speech delivered at the yearly Business Council of Australia dinner, he announced that government would partner with Western Australia to develop a system that would allow project proponents to submit a single application through an online portal, track its progress and access a database of biodiversity studies relevant to their project.
Africa and Europe-focused exploration company Oriole Resources has finalised the conversion of its 14.87% interest in the Muratdere copper/molybdenum/gold deposit, in Turkey, to a 1.2% net smelter return (NSR) royalty. "We are pleased with the progress our partner has made in moving Muratdere towards mine development.
Mining Weekly Editor Martin Creamer unpacks developments around solar energy, the private sector and new rock drill prototypes.
The Organisation of Petroleum Exporting Companies (Opec) may have no appetite to cut oil production deeper when it meets next month, but flaring political crises across the group are once again threatening supply. Unrest erupted in Iraq and Iran this month – two of the Middle East’s biggest producers – as people took to the streets protesting financial hardship and bad governance. That’s adding to the range of supply threats already afflicting the Organization of Petroleum Exporting Countries, from... Читать дальше...
Tunisia says it’s on track to restore once economically crucial phosphate output to levels approaching those before the 2011 Arab Spring uprising, as its beleaguered state-owned miner undergoes a shakeup. Output will probably be at least 4.1-million tons in 2019, up from 2.8-million tons the previous year, Industry Minister Slim Feriani said. Before the revolt that unseated President Zine El Abidine Ben Ali and sparked long-running labour unrest, Tunisia was one of the world’s largest producers of the fertilizer component... Читать дальше...
Miner Freeport-McMoRan and two large Chinese copper smelters on Thursday agreed a 23% cut in annual treatment and refining charges (TC/RCs) for 2020, pushing the industry benchmark to a nine-year low. Freeport settled with Jiangxi Copper and Tongling Nonferrous Metals in two separate deals at the same price, Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport told Reuters.
Canada's Teck Resources has hired Barclays to sell all of its 80% stake in its Zafranal copper asset in Peru, as the diversified miner accelerates efforts to exit advanced projects and focus on its massive Chilean expansion, two banking sources told Reuters on Wednesday. Teck is likely to sell or seek a partner for Zafranal, CEO Don Lindsay has said.
The platinum sector is likely to end 2020 with a 670 000 oz surplus, the World Platinum Investment Council (WPIC) estimates. The WPIC on Thursday published its Platinum Quarterly for the third quarter of 2019, which includes a revision to the full-year 2019 forecast, as well as an initial forecast for 2020.
Hyve portfolio head discusses the 26th Investing in Africa Mining Indaba; And, NMP still banking on marine phosphate project despite enviro objections
