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Australia Federal Court narrows BHP's suits over Samarco disaster
Published: 19 Dec 18
The Federal Court of Australia on Tuesday ordered that the number of class-action lawsuits against BHP Group over a Brazilian mine collapse be narrowed to one from three. BHP is facing legal challenges over the 2015 collapse of the Fundao tailings dam, which stored mining waste at a mined owned by the Samarco joint venture between BHP and Brazilian iron-ore mining giant Vale. The disaster killed 19 and spilled about 40-million cubic metres of sludge over communities and into the Rio Doce river and the Atlantic Ocean.
This odd couple plots to save $100bn gold mining business
Published: 18 Dec 18
John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter. Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world’s largest gold-mining company, whose shares are down 67% from their high in 2010. Thornton, executive chairman of Barrick Gold, set the partnership in motion when he announced a deal for smaller rival Randgold Resources for $5.4 billion in September. He tapped Bristow, Randgold’s CEO, to be the CEO of the combined companies.
Pretivm refinances construction credit facility, repurchases stream
Published: 18 Dec 18
TSX- and NYSE-listed Pretium Resources (Pretivm) said on Tuesday that it had accomplished all its objectives for the year, following the successfully refinancing of its construction credit facility and the repurchase of the precious metals stream that was sold as part of the construction financing package for the Brucejack mine. The other key goals that Pretivm had set for 2018 were reaching steady state gold production and receiving permit amendments to expand the British Columbia-based mine’s production to 3 800 t/d – both of these have been achieved.
Platreef Shaft 1 reaches 850 m below surface
Published: 18 Dec 18
Shaft 1 at Ivanplats’ Platreef project, near Mokopane ,in South Africa, has reached a depth of 850 m below the surface and work has begun on the 850 m station – the second of three horizontal mining access stations planned for the shaft that is currently under construction. The first mining access station has been constructed at the 750 m level, following earlier development of a water pumping station at the 450 m level.
Canada offers C$1.5bn in loans for oil-sector liquidity
Published: 18 Dec 18
The Canadian government announced C$1.5-billion in loans for the oil and gas sector, as well as some government funding for unspecified projects, after a supply glut sank heavy crude prices to as low as $13.46 a barrel last month. The country’s Energy and Trade Ministers announced the aid Tuesday morning in Edmonton. It includes “commercial financial support” loans of C$1-billion from Export Development Canada, and C$500-million in commercial financing from the Business Development Bank of Canada. While the funds are available immediately, the package was criticised as insufficient by Alberta’s premier.
C$10.3m approved to advance of Wheeler River uranium project
Published: 18 Dec 18
Spurred on by the positive results of its prefeasibility study (PFS) for the Wheeler River project, Canadian uranium company Denison Mines on Tuesday announced that C$10.3-million would be spent on advancing the Athabasca basin project in 2019. The budget, approved by the Wheeler River joint venture in which Denison has 90% ownership, will be used to initiate the environmental assessment process, as well as engineering studies and related programmes required to advance the high-grade Phoenix deposit as an in-situ recovery (ISR) mining operation.
The world's most controversial coal mine is set to break ground The world's most controversial coal mine is set to break ground
Published: 18 Dec 18
The world’s most contentious coal project is edging closer toward development, potentially unlocking one of the biggest untapped resources even as a debate rages around the fuel’s future. Indian billionaire Gautam Adani’s Carmichael is located in Australia’s huge Galilee Basin, which covers around 250 000 square kilometers -- about the size of the UK. If the region is fully developed, it has potential to more than double Australia’s thermal coal exports, according to government estimates.
Glencore billionaire among directors banned, fined by Canada Glencore billionaire among directors banned, fined by Canada
Published: 18 Dec 18
Glencore’s billionaire head of copper trading, Aristotelis Mistakidis, was among executives fined and banned from being a director by Canada after admitting that its Congolese copper and cobalt unit misstated how much metal it mined. Mistakidis, who is retiring from Glencore at the end of this year, was hit with a C$2.45-million fine and a four-year director ban in Ontario at a public hearing on Tuesday by Canada’s Ontario Securities Commission. Other Katanga Mining directors including Liam Gallagher and its CEO, Johnny Blizzard, were also sanctioned.
Gold Fields and NUM sign formal agreement ending South Deep strike Gold Fields and NUM sign formal agreement ending South Deep strike
Published: 18 Dec 18
The 45-day strike at Gold Fields’ South Deep mine has officially ended following signing of a formal settlement agreement between the JSE- and NYSE-listed company and the National Union of Mineworkers (NUM). Employees have been returning to work since last Thursday, when the union called off the strike, but the formal agreement was only signed on Tuesday.
No compliant bids received for additional Gautrain rolling stock No compliant bids received for additional Gautrain rolling stock
Published: 18 Dec 18
It is back to the drawing board for the procurement of additional rolling stock for the Gautrain system, after the prequalified bidders’ submissions failed to meet procurement requirements. The three prequalified bidders – Bombardier Transport, CRRC E-Loco Supply and Egoli Rail Consortium –submitted proposals to supply 12 new four-car trains for Gauteng’s rapid rail network, but none were compliant, Gautrain Management Agency (GMA) spokesperson Dr Barbara Jensen confirmed to Engineering News Online.
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