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Nene says outlook for tax revenues unchanged Nene says outlook for tax revenues unchanged
Published: 22 May 18
Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit. Nene made the comments in parliament.
De Beers’ rough diamond sales increase to $550m in fourth sales cycle
Published: 22 May 18
Diamond producer De Beers reported an increase in rough diamond sales to $550-million for the fourth sales cycle of this year. This is compared with rough diamond sales of $522-million in the fourth cycle of 2017 and sales of $524-million in the third cycle this year.
Gem recovers 115 ct diamond from Letšeng
Published: 22 May 18
LSE-listed Gem Diamonds has recovered a 115 ct, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.  This is the ninth diamond of over 100 ct recovered at the mine this year, already exceeding the total number of diamonds of over 100 ct recovered in 2017.
Soaring coal royalties give Qld infrastructure spending a boost
Published: 22 May 18
Queensland coal royalties would soar to a record A$3.7-billion in the 2018 financial year, the Queensland Resources Council (QRC) predicted on Tuesday. QRC CEO Ian Macfarlane said the A$536-million increase on the government’s previous royalty estimates would allow the state government to increase infrastructure spending by A$1.4-billion to A$11.5-billion, and a total of A$45-billion in infrastructure over four years.
DGO takes interest in De Grey
Published: 22 May 18
ASX-listed DGO Gold has taken a 7% stake in fellow-listed De Grey Mining. Under the investment agreement, DGO would subscribe for 25-million ordinary shares in De Grey, prices at 20c each, for a total investment of A$5-million.
Titan raises A$11m for Mirador acquisition
Published: 22 May 18
Peru-focused explorer Titan Minerals has raised A$11-million through a share placement to fund the acquisition of the Mirador copper and gold plant, and to fund exploration and development at its Torrecillas and San Santiago gold projects. The share placement, which was priced at 3c a share, was conducted in two tranches, with the first consisting of more than 233.3-million shares, and issued under the company’s existing placement capacity.
Unpacking Kropz’s Elandsfontein project Unpacking Kropz’s Elandsfontein project Has Video
Published: 22 May 18
Mining Weekly editor Martin Creamer unpacks the developments around Kropz’s Elandsfontein project.
Lucapa recovers another significant stone
Published: 22 May 18
Diamond miner Lucapa has recovered a 25 ct yellow gem diamond from its Mothae kimberlite mine, in Lesotho. The ASX-listed company noted that the stone was recovered from the Neck Zone of the Mothae kimberlite, which was not part of the current one-million carat Joint Ore Reserves Committee compliant resource.
Alara gets mining licence in Oman
Published: 22 May 18
Metals developer Alara Resources has been granted a mining licence for its Al Hadeetha copper project, in Oman. CEO Justin Richard said on Tuesday that the granting of a mining licence was a major milestone for the copper project, and for future development of the copper sector in Oman.
Rio Tinto tells Mongolia to interfere less in Oyu Tolgoi Rio Tinto tells Mongolia to interfere less in Oyu Tolgoi
Published: 22 May 18
Mining major Rio Tinto has called for less interference at the Oyu Tolgoi copper and gold mine, in Mongolia, as it advances underground development. Rio’s copper and diamonds CEO Arnaud Soirat told delegates at the Mongolian Economic Forum that the Oyu Tolgoi development would be used as a benchmark for future investment in Mongolia.
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