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Zwane to outline Mining Charter provisions at Limpopo imbizo Zwane to outline Mining Charter provisions at Limpopo imbizo
Published: 28 Jun 17
Mineral Resources Minister Mosebenzi Zwane will on Thursday host an imbizo on the third Mining Charter, in Limpopo, which forms part of his programme of informing mining communities on the charter’s provisions. The much-maligned charter, which was gazette on June 15, is currently an issue of contention in the industry, with the Chamber of Mines (CoM) having launched a court bid to halt its implementation
AngloGold to restructure South African operations to ensure viability AngloGold to restructure South African operations to ensure viability
Published: 28 Jun 17
Gold mining company AngloGold Ashanti has begun consulting with employees on placing the 59-year-old Savuka mine and the 36-year-old Kopanang mine on care and maintenance, and evaluating the integration of the 60-year-old TauTona mine into the neighbouring Mponeng mine, which is being set up as a new, lower-cost operation. On a gold price that averaged $1 216/oz, TauTona and Kopanang recorded all-in first-quarter sustaining costs of $1 737/oz and $2 399/oz after also being lossmaking in 2016.
Connemara keen to find new zinc partner with ‘deeper pockets’ Connemara keen to find new zinc partner with ‘deeper pockets’
Published: 28 Jun 17
Irish explorer Connemara Mining chairperson John Teeling is open to bringing in a new joint venture (JV) partner for the company's zinc exploration projects in Limerick and Meath, claiming on Wednesday that progress is too slow in a market where zinc prices are rising fast. Connemara has two JV agreements with Canadian major Teck Resources. One at Stonepark, a few metres away from Glencore’s Pallas Green project, and the other in the Oldcastle area straddling the border of Meath and Cavan.
Karelian granted claim reservation over area which may contain new kimberlite Karelian granted claim reservation over area which may contain new kimberlite
Published: 28 Jun 17
Prospector Karelian Diamond has been granted a claim reservation in the Kaavi region of Finland, which the Aim- and ESM-listed company is hoping could lead to the discovery of a new kimberlite in the area. The 8.67 km2 claim reservation is for the area surrounding its Lahtojoki mining concession and covers the up-ice area of the kimberlite boulder discovery announced late last year.
Indian FY potash imports to dip 5%
Published: 28 Jun 17
India’s potash imports are expected to fall by an estimated 5% during the current financial year, as a result of a combination of higher global prices, a spike in the domestic retail price of the nutrient and the impact of country’s reformed indirect taxes. Officials in designated import agencies said that while the entire domestic demand for the soil nutrient was met through imports, total inward shipments in 2017/18 were forecast to be at least 5% lower than the four-million ton imported during the previous financial year.
China said to plan coal import ban at some ports starting July 1
Published: 28 Jun 17
China plans to ban coal imports starting July 1 at ports that were set up through approvals by provincial authorities, the latest move by President Xi Jinping’s government to exert stricter control on the market. Ports in the world’s largest consumer of the fuel that were approved under the authority of the State Council will still be able to receive overseas shipments, said the people, who asked not to be identified as the information isn’t public.
As nasty quarter ends, iron's reprieve sees futures back in $60s
Published: 28 Jun 17
After what’s been a tough quarter, iron ore’s getting a small reprieve. Futures clawed their way back above $60 a metric ton and spot prices have rebounded from a one-year low as steel output holds up in China, buoying demand for the material even as its supply rises. The SGX AsiaClear contract rallied as much as 3.1% to $61.43 a ton, the highest in five weeks, while futures on the Dalian Commodity Exchange held gains.
India’s Steel Ministry mulls capacity utilisation floor for iron-ore mines
Published: 28 Jun 17
Failing to muster support even within the government to cap the domestic price of iron-ore, India’s Steel Ministry is now mulling a proposal to set minimum capacity utilisation benchmarks for iron-ore mines across the country. Sources in the government say the Steel Ministry aims to focus on the supply side by setting minimum benchmarks for capacity utilisation to ensure adequate supplies of raw materials to domestic steel mills.
Mustang on track to sell 200 000 ct of rubies in October
Published: 28 Jun 17
ASX-listed Mustang Resources’ ruby inventory has grown to 120 397 ct, paving the way for the company to meet its 200 000 ct target in time for its first closed bid tender, in October this year. The growing inventory reflects in part the successful commissioning of the upgraded processing plant at Mustang’s Montepuez ruby project in Mozambique, as well as the discovery of a shallow secondary ruby deposit 3 km south-east of the plant. During the commissioning ...
India should revisit lofty coal output targets as demand weak – policy panel
Published: 28 Jun 17
India should rein in its lofty coal output target as power demand is growing at a slower pace than expected, a government policy think-tank said, even as state monopoly Coal India Ltd (CIL) struggles to sell already-mined coal. A turnaround in India's coal sector, from crippling shortages three years ago to a surplus thanks to faster government clearances, is seen as a major success for Prime Minister Narendra Modi.
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