India’s Coal Ministry in no rush with coal auctions

India’s Coal Ministry in no rush with coal auctions

KOLKATA (miningweekly.com) – India’s Coal Ministry has decided not to rush through the auction of coal supply linkage to power companies in light of the high availability of the fuel, even though the auction of such linkages would be done for non-power industries. The rules for the auction of coal linkage to the power sector […]

Continue Reading

LNG investment falls as projects are completed – Deloitte

PERTH (miningweekly.com) – As investment in the Australian liquefied natural gas (LNG) sector falls to its lowest level since 2009, LNG exports were tipped to increase on the back of the completion of the Gorgon, Prelude and Ichthys developments in 2017. Advisory firm Deloitte Access Economics reported this week that the value of engineering construction […]

Continue Reading

South Africa’s Eskom to meet coal supplier over drop in black ownership

JOHANNESBURG – South Africa’s state-owned power producer Eskom will meet with Exxaro Resources after the coal producer approved a transaction that will see its black ownership drop to 30% from over 50%, the utility said on Wednesday. The diversified miner said in November it planned to replace its existing ownership structure through a share buyback process that would dilute its black ownership. The […]

Continue Reading

Sula historic drill core offers encouraging results for Sierra Leone project

JOHANNESBURG (miningweekly.com) – Additional samples taken from a historic drill core at Aim-listed Sula’s Ferensola goldproject, in Sierra Leone, have yielded further positive results, with one oxide sample returning an assay of 28.9 g/t gold. In early November 2016, samples were collected from a historic drill core remaining on site and which was drilled prior to Sula’s ownership of the Ferensola project’s licence. […]

Continue Reading

Paused zinc rally expected to continue gaining momentum in 2017

VANCOUVER (miningweekly.com) – Zinc’s 66% rally this year is expected to continue in 2017, analysis by Bank of America Merrill Lynch (BofAML) Global Research shows. Analysts believe the shortfall in mine output (concentrates) will be around 391 00t this year, making this the largest deficit since 1993. “Shortfalls to that tune are only possible because smelters can draw […]

Continue Reading

Botswana diamond miner announces four-month plant closure

GABORONE – Contract miner Basil Read Mining Botswana (BRMD) has announced an immediate cessation of all mining operations at Lerala Diamond Mine(LDM), which is owned by Australian gem miner Kimberely Diamonds. BRMD, which was contracted to conduct mining operations on behalf of Kimberley Diamonds Limited (KDL), said it would be forced to retrench some employees to avoid incurring losses during the period of redundancy. In an internal memo circulated to all […]

Continue Reading

Horizontal raise bore trial project at Cullinan mine nears completion

CULLINAN (miningweekly.com) – Raise boring and drilling services group MasterDrilling is nearing completion of a 220 m horizontal raise bore (HRB) trial project atSouthern Africa-focused miner Petra Diamonds’ Cullinan diamond mine, in Gauteng. On Thursday during a site visit to the mine, Petra miningmanager Steven Klopper highlighted that the HRB method of developing access points to the kimberlite orebody had recorded significantly faster development rates […]

Continue Reading

Dichotomy underlines India’s ambitious plans to double mineral production by 2020

According to government data released last month, of these 288 projects, 94 had not made any headway as companies have not submitted  required documents, 110 projects are still awaiting environmental approvals from provincial and federal governments and 63 are yet to get the go-ahead from provincial governments. A senior officials of the Mines Ministry has […]

Continue Reading

CIL seeks coking coal in S Africa as it exits Mozambique project

CoalIndia Limited’s (CIL’s) proposed collaboration with South African State-owned  African Exploration Mining and FinanceCorporation (AEMFC) is expected to focus on coking coal in the African nation, with India facing limited opportunity to ramp up domestic production of the dry fuel. The CIL board of directors’ approval of collaboration with AEMFC on Monday, comes close on heels of the Indian miner officially burying its coal project venture in neighbouring Mozambique. In […]

Continue Reading

Q2 mining and metals M&A deal value doubles quarter-on-quarter

JOHANNESBURG (miningweekly.com) – Despite a 93% quarter-on-quarter uptick in mining and metals mergers and acquisitions (M&A) deal value in the second quarter, suggesting growing confidence in the sector, deal value year-on-year is 51% down on the second quarter of last year, with deal activity predicted to remain rocky in the coming months. Assurance, tax, transaction […]

Continue Reading