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Lower South Deep output dents Gold Fields’ FY18 profit
Published: 15 Feb 19
Dual-listed Gold Fields achieved normalised profit from continuing operations of $27-million for the year ended December 31, 2018, compared with the $154-million posted for 2017.   The company’s profit was dented by a decline in output, led by its South Deep mine in South Africa.
Wescoal ends Khanyisa Triangle JV
Published: 15 Feb 19
JSE-listed Wescoal on Friday announced it was exiting the Khanyisa Triangle joint venture (JV) with Uju Resources, Mwelase Mining and Aztolinx, allowing Wescoal to exploit the coal resource exclusively. In 2016, Wescoal and Uju agreed to jointly exploit the mining area known as the Khanyisa Triangle.
Trust in tailings? Vale dam disaster spurs investors into action
Published: 15 Feb 19
Seeking assurances from Brazilian miner Vale by phone after a second deadly dam disaster in three years is not enough for Sasja Beslik. He plans to fly there himself to get answers. Beslik, head of sustainable finance at Swedish bank Nordea, blocked the bank's investment managers from buying any more Vale shares on Jan. 26, the day after a damn filled with mining waste burst its banks, killing hundreds.
Govt, industry collaboration needed to create thriving diamond industry – Ernie Blom
Published: 15 Feb 19
World Federation of Diamond Bourses president Ernie Blom has called on Mineral Resources Minister Gwede Mantashe, through an open letter, to put into practice what government has said regarding the development of the South African mining industry, in general, and to help “pave the road to success”. In particular, Blom referred to the global diamond sector, which he said “flourished when close cooperation between government and industry prevails”.
On-The-Air (15/02/2019) Has Audio
Published: 15 Feb 19
African countries are streaking ahead of South Africa on the mining automation front; mining companies are opting for solar power because it is cheaper than Eskom power; and only black-owned companies will be allowed to buy the seven mining operations that are up for sale in Mpumalanga. White-owned companies are excluded.
Keliber raises €10m in share issue
Published: 15 Feb 19
Finland’s Keliber has raised more than €10-million through directed share issues to current shareholders and personnel of the company, with the Finnish Minerals Group now the company’s largest shareholder. The share issue directed to the current shareholders of the company was oversubscribed, the lithium project developer reported on Friday and noted that Finnish Minerals Group has more than 24% of the number of shares and voting rights of Keliber.
Brucejack to ramp up to 3 800 t/d this year
Published: 15 Feb 19
In its first full year of production, dual-listed Pretium Resources has generated almost $200-million in cash from operations, while producing 376 012 oz of gold, president and CEO Joseph Ovsenek reported on Thursday. The intermediate gold producer’s all-in sustaining costs (AISC) for the second half of 2018 are $745/oz, he said, adding that it was within the company’s guidance of between $710/oz and $770/oz of gold sold.
Weaker prices hit Silvercorp Q3 performance
Published: 15 Feb 19
TSX-listed Silvercorp Metals, which owns and operates mines in China, on Thursday reported a net income of $8.7-million for the third quarter ended December 31 – representing a 31% year-on-year decline with the company achieving a net income of  $12.7-million in the third quarter of 2018. The weaker financial performance was attributed to a 5% decline in sales to $42.4-million, on the back of a decrease in silver, lead and zinc prices and a 36% drop in zinc sales.
Agnico Eagle to open two new mines in 2019
Published: 15 Feb 19
With two new mines at Meliadine and Amaruq to start operations in 2019, Canadian gold miner Agnico Eagle is forecasting record gold production for the year, building on the 1.63-million ounces that the company’s mines in Canada, Finland and Mexico produced in 2018. The full-year production compares with 1.71-million ounces in the prior-year period, with the lower production said to have been expected and as a result of reduced throughput levels at the Meadowbank mine, in Nunavut, which is transitioning through the last full year of mining at site.
Chinese OEM supports Aury Africa with second major visit Has PDF
Published: 15 Feb 19
The parent company of Aury Africa, Dadi Engineering Development Group (DDEDG), holds the African market in such high regard that senior management will pay a second visit to South Africa from 13 to 22 February. The aim of the visit is to engage with potential customers in the mining industry, which has a need for high-quality screening and vibrating equipment solutions, supported by rapid turnaround around times and expert technical capabilities. This is what continues to differentiate Aury Africa on the continent.
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