BHP ready to overcome global uncertainties – Mackenzie

BHP ready to overcome global uncertainties – Mackenzie

PERTH (miningweekly.com) – Miningmajor BHP Billiton has more than doubled its net profit to $3.2-billion for the six months ended December 31. This was up 157% from the $7-billion loss reported in the six months to December 31, 2015. Underlying earnings before interest, taxes, depreciation and amortistaion (Ebitda) were also up by 65% year-on-year to $9.8-billion.   “This is […]

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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 […]

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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 […]

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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. […]

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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 […]

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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 […]

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New mineral sands projects require higher prices – Base

With global mineral sands stockpiles declining, a further price improvement is expected for the balance of 2016, Base MD Tim Carstens told delegates at the first day of the Africa Down under conference in Perth, on Wednesday. At peak, ilmenite traded at about $350/t; however, by May this year, prices for the product declined to between $60/t to $65/t. “It was a […]

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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 […]

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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 […]

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GWK invests R400m in Northern Cape agriprocessing facility

Farmer-owned agribusiness GWK on Monday unveiled its R400-million GWK Farm Foods wheat mill, pasta plant and biscuit factory in Modder River, the Northern Cape, which was was completed on time and within a deviation of less than 2% of original cost projections.   Of the R400-million, R60-million was invested in expanded silo capacity to service […]

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