Mining Weekly

New legal action against Barrick over Pascua Lama

A Chilean lawyer has filed legal action to force the world’s largest gold producer Barrick Gold executives to appear in a Canadian court to respond to accusations that the company falsified information included in the Pascua Lama protocol between Argentina and Chile in 2004.

Gem Diamonds reviews capex plans for Lesotho, Botswana projects

Gem Diamonds has initiated a review of its capital investment plans and said it might delay projects in Lesotho and Botswana in order to protect the company’s balance sheet in light of continued economic uncertainty.

Xstrata to develop south decline at Helena mine

Diversified miner Xstrata Alloys was progressing the ramp-up of its Helena chrome mine, in Mpumalanga, with the development of a south decline underground, the company said.

Money returning for mining equity, bankers say

There's a new appetite for equity financing in the global mining sector, as investors tiptoe back into a market that has fretted about funding for the last six months. Boosted by firm metals prices and a less pessimistic outlook for a still-fragile global economy, many mining companies are again able to sell shares in secondary offerings or tempt investors with an initial public offering.

Slow start, but Canada diamond ice road operators not panicking

Above zero temperatures have set the 600-km ice road connecting diamond mines in Canada’s Northwest Territories with supplies slightly behind schedule since trucking began at the start of the month, but there is no reason to panic yet, the man in charge of the operation said on Tuesday.

Booming mining sector translates into Zambian contracts for motors supplier

Interest in the burgeoning African mining industry continues to increase, with this year marking the eighteenth annual Investing in African Mining Indaba, and numerous contracts being awarded to mining suppliers.

BHP halts underground ops at Khutala South Africa after fatality

Mining major BHP Billiton’s South African energy coal unit Becsa has suspended mining activities at the underground operation of its Khutala colliery near Witbank, after a fatal accident on Thursday.

Iamgold sells Botswana gold mine for $34m to junior

Toronto’s Iamgold has sold its Mupane Gold Mine in Botswana to TSX-V-quoted junior Galane Gold for $34-million in cash and shares, the company announced on Wednesday.

Company Announcement: High grade gold intersections at Kanyankaw

Adamus Resources Limited is pleased to announce that its ongoing exploration program has returned positive results from the recent RC drilling program at its Kanyankaw project (22km east of the Nzema Gold Project), located between Tarkwa and the port town of Takoradi.

Kenya grants first-ever gold mining lease

Kenya is set to join the league of gold-producing nations following the granting of the first mining lease to UK company Goldplat.

Diamonds lose some shine, but no further big falls expected – analysts

As diamond prices show their first significant drop since staging a signifi- cant recovery from the financial crisis, analysts said last week the pullback was due at some point, and that prices should more or less hold their current levels for the rest of this year and into 2012.

Australia opens A$31m mining centre to assist developing nations

PERTH ( Australia plans to open a A$31-million International Mining for Development Centre at an university in Perth to provide practical advisory, education and training services to developing nations, most notably African, across...

Reams of questions stream in ahead of Anglo American Thermal Coal’s IPP deadline

JOHANNESBURG ( Reams of queries streamed in ahead of the questions deadline for the independent power producer (IPP) project that Anglo American Thermal Coal is facilitating at eMalahleni, Mpumalanga. “Our period for questions closed...

Great Basin on track to achieving higher mining rate at Burnstone reports gold miner Great Basin Gold (GBG) was on track to achieving its planned increased rate of mining at the Burnstone mine for the remainder of this year and for 2012, CEO Ferdi Dippenaar said on Thursday.

Palabora lifts Q3 copper mine production

JOHANNESBURG ( Palabora Mining on Tuesday reported increased third-quarter copper mine production, but said that its refined output dropped. The company, South Africa’s only major copper producer, increased the ore hoisted by 11% to...

West Southdown a ‘significant addition’ to AMMG’s iron-ore portfolio

PERTH ( ASX-listed (AMMG) has reached an agreement with Minemakers to acquire its 80% interest in the West Southdown project, in Western Australia. The newly named Southdown extension project comprises a 22-block exploration licence,...

Nimrodel extends Botswana coal exploration footprint

PERTH ( Australia-listed Nimrodel Resources has signed a farm-in and joint venture (JV) agreement to acquire up to 65% of Botswana-domiciled company Triprop Energy. The agreement with Triprop increased Nimrodel’s target area in Botsw...

Banpu moves to raise Hunnu Coal interest beyond 25 pct

PERTH ( Asian coal and energy provider Banpu Minerals has increased it shareholding in takeover target Hunnu Coal to over 25% after receiving Foreign Investment Review Board approval. The deal has also been approved by the Bank of...

Exxaro’s end to South African zinc refining ‘clearly unfortunate’

The end that black-controlled JSE-listed Exxaro Resources will put to local zinc refining by December 31 is “clearly unfortunate”, says International Zinc Association of Southern Africa regional director Rob White.

Richards Bay Coal Terminal CEO quits

Richards Bay Coal Terminal (RBCT) CEO Raymond Chirwa has resigned. RBCT chairperson Imogen Mkhize said in a statement that RBCT’s GM Alan Waller would act as RBCT CEO until further notice.

Mining surge to increase DRC's power deficit

The Democratic Republic of Congo would see its energy deficit dramatically increase in the next four years due to a surge in demand from the mining industry, the country's national supplier said on Tuesday.

$70-million mill and mine upgrade for gold producer

Philippines-focused gold producer Medusa Mining is set to under-take a $70-million remodelling of its current Co-O mill and mine site in order to increase its yearly production target to 200,000 oz.

Mining contributes to 21 pct growth in turnover for logistics operator

In a year that was relatively quiet for the logistics industry in general, Cargo Carriers has posted a 21% increase in its turnover. The return of logistics operator Cargo Carriers to the mining sector was a contributing factor and was marked by the

First primary and secondary scraper with one mounting point

Conveying equipment designer and fabricator Superior Industries has released the market’s first primary and secondary belt-cleaning system with a common mounting point. The product will benefit conveying applications on mines that have problems with

NUM wants restrictions on chrome exports to China

JOHANNESBURG ( - South Africa’s National Union of Mineworkers (NUM) on Friday called for “urgent” restrictions on chrome exports, particularly to China. The union’s national executive committee said in a statement that China was