Mining Industry News
Posted May 27th 2016 at 10:47 pmOne would be hard-pressed to find optimism in today’s US coal industry, but even as the country’s exports fall and the fossil fuel’s importance in the energy mix diminishes, there are some flickers of hope for the industry facing seemingly ever-darkening fundamentals. Doyle Trading Consultants executive VP Hans Daniels told Mining Weekly Online in an interview Friday there was quite a lot of pessimism in the market at the moment, with no material improved outlook on the horizon for US coal.
Posted May 27th 2016 at 7:07 pmNYSE- and JSE-listed precious metals miner Sibanye Gold has been granted an interdict against a strike called at its Kroondal platinum operations, in South Africa, by the Association of Mineworkers and Construction Union (AMCU). The South African Labour Court on Friday declared any strike action by AMCU relating to the transport issues raised, unlawful and unprotected.
Posted May 27th 2016 at 6:26 pmCommodity price indices have rallied in recent weeks as strong performance by oil softened the lull in metals price movements. Scotiabank's commodity price index had improved by 4.5% month-over-month in April as energy gains more than offset metals weakness.
Posted May 27th 2016 at 5:28 pmMarine mining pioneer Nautilus Minerals has this week reported an upgraded and improved mineral resource at its Clarion-Clipperton Fracture Zone (CCZ) project in the Central Pacific, which it held through its 100%-owned subsidiary Tonga Offshore Mining (TOML). Toronto-based Nautilus advised Thursday that the CCZ project’s compliant inferred mineral resource base increased from 410-million tonnes to 685-million tonnes (wet), while about 68-million tonnes were upgraded into the indicated category and 2.6-million tonnes into the measured category.
Strong tailwinds giving juniors, project developers room to run – research note – by Henry Lazenby (Mining Weekly.com – May 26, 2016)
Posted May 27th 2016 at 5:04 pmhttp://www.miningweekly.com/page/americas-home TORONTO (miningweekly.com) – About halfway through the first quarter, analysts at Dundee Capital Markets noticed that exploration companies that had weeks earlier appeared to be dead in the water, as investors abandoned all but a handful of names, were steadily starting to leave the laggards behind as a combination of the gold price rally […]
Educate Aborigines in STEM skills to help them and the nation – by Andrew MacKenzie (The Australian – May 27, 2016)
Posted May 27th 2016 at 3:19 pmhttp://www.theaustralian.com.au/ Andrew Mackenzie is the chief executive of BHP Billiton. The benefit that Australia stands to gain from making Aboriginal and Torres Strait Islander people part of the nation’s economic growth is an opportunity we can’t afford to miss. On this day 49 years ago, Australians voted overwhelmingly to allow Aboriginal and Torres Strait Islander […]
A tale of two minerals: Overproduction, low demand, weak prices dog potash, uranium mining – by Bruce Johnstone (Regina Leader-Post – May 27, 2016)
Posted May 27th 2016 at 2:15 pmhttp://thestarphoenix.com/ With apologies to Charles Dickens, it was the best of times and worst of times for Saskatchewan’s mining industry in 2015. Both production volume and value of Saskatchewan’s most important mineral resources — potash and uranium — were up in 2015 over 2014. And, for the first time ever, Saskatchewan was ranked second in […]
Miner Sees Silver Price Surging Ninefold as Global Gadgets Boom – by Natalie Obiko Pearson (Bloomberg News – May 26, 2016)
Posted May 27th 2016 at 2:07 pmhttp://www.bloomberg.com/ A major Japanese electronics maker approached First Majestic Silver Corp. for the first time last month seeking to lock in future stock, a sign of supply concerns that could boost the metal’s price ninefold, according to the best-performing producer of the metal. “For an electronics manufacturer to come directly to us — that tells […]
Posted May 27th 2016 at 2:05 pmhttp://www.reuters.com/ BENGALURU/BRUSSELS, May 27 Anglo American Plc’s De Beers named insider Bruce Cleaver as chief executive of the diamond group, which the global mining company is counting on to help revive its fortunes. Cleaver takes on the new role at a difficult time for De Beers as Diamond sales stagnated in 2015, hit by a […]
A 7,000-kilometre northern corridor in search of shared vision – by Claude Montmarquette and Andrei Sulzenko (Globe and Mail – May 27, 2016)
Posted May 27th 2016 at 2:04 pmhttp://www.theglobeandmail.com/ Canada’s history is full of examples of large-scale transportation infrastructure projects that have motivated growth and helped define a shared vision for the country. The Canadian Pacific Railway, the Trans-Canada Highway and the St. Lawrence Seaway are prime examples. But the Canada of 2016 does not have such grand plans for infrastructure that may […]
Posted May 27th 2016 at 2:02 pmImpala Platinum Holdings, the world-second largest producer of the precious metal, said production at its Rustenburg Shaft 1, one of its biggest, is still suspended as it continues to search […]
Proposed 7,000-kilometre resource corridor would improve life in Canada’s North, researchers say – by Eric Atkins (Globe and Mail – May 27, 2016)
Posted May 27th 2016 at 1:59 pmhttp://www.theglobeandmail.com/ An ambitious proposal to build a 7,000-kilometre trade and infrastructure corridor in Canada’s North has taken a key step forward. The Northern Corridor would link Canada’s people, goods and natural resources with overseas and southern markets, and boost sovereignty and development in vast swaths of the country that are economically isolated, concludes the first […]
Posted May 27th 2016 at 1:58 pmRenewable energy and China’s economic shift toward consumer-led growth will be major catalysts for a new wave of copper demand that’ll accelerate a shortage forecast to develop from 2019, according to […]
Kathleen Wynne Ridiculed By Wildrose Party During Visit To Alberta Legislature – by Dean Bennett (Huffington Post – May 27, 2016)
Posted May 27th 2016 at 1:58 pmhttp://www.huffingtonpost.ca/ “Currently Ontario has the largest subnational sovereign debt on the planet,” Fildebrandt told the house. “They’re now even receiving equalization payments. It’s an example of what happens when a government fails to get its spending under control.” The Canadian Press – EDMONTON — Ontario Premier Kathleen Wynne came to Alberta to talk environment but […]
BHP Billiton Digs In at Vast Australian Copper Mine – by Rhiannon Hoyle (Wall Street Journal – May 26, 2016)
Posted May 27th 2016 at 1:53 pmhttp://www.wsj.com/ Australian miner working on plan to boost output in shift of focus to copper, petroleum amid growth of Asia’s middle class OLYMPIC DAM, Australia— BHP Billiton Ltd. executives aim to devise a way over the next year to boost copper output from Australia’s biggest underground mine by up to 40%, even before a proposed […]
Donald Trump says he would approve Keystone XL, but with new deal and piece of the profits – by Claudia Cattaneo (Financial Post – May 27, 2016)
Posted May 27th 2016 at 1:52 pmhttp://business.financialpost.com/ CALGARY — The U.S. environmental movement’s biggest win yet, the defeat of the Keystone XL pipeline, could be history if Donald Trump takes the White House in November. The Republican presidential candidate confirmed Thursday he would approve TransCanada Corp.’s proposed oil pipeline to link Alberta’s oilsands to refineries in the U.S. Gulf, but on […]
Posted May 27th 2016 at 1:41 pmRussian diamond miner Alrosa will hold investor meetings in the United States and the United Kingdom in June ahead of a stake sale, a Sberbank executive said on Friday. The Russian government aims to make more than 60-billion roubles ($909-million) from selling a 10.9% stake in Alrosa, with the sale taking place on the Moscow Exchange this year.
Posted May 27th 2016 at 1:40 pmRatings agency Moody’s on Friday lowered its outlook for the South African banking system to negative from stable, citing deteriorating operating conditions it expected in the next 12-18 months. “The […]
Posted May 27th 2016 at 1:19 pmIn an effort to improve efficiencies and deliver quality products to customers ahead of time, Chromium Carbide (CrC) liner plate expert Rio-Carb has invested in a superior welding machine that […]
Posted May 27th 2016 at 1:11 pmThe AfriSam Olifantsfontein readymix and aggregate quarry in Gauteng has been making use of Aury Africa woven wire screens since 2014. Aury Africa wire screens are more cost-effective and last […]