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Aim-listed Gemfields’ latest auction of emerald and amethyst has netted revenue of $11.1-million. The auction, held in Jaipur, India, from September 26 to 29, included commercial-quality rough emerald extracted at Gemfields’ 75%-owned Kagem mine, in Zambia, and higher-quality amethyst mined by Gemfields’ 50%-owned subsidiary Kariba Minerals in Zambia. Of the …
Read More »Brazil’s Vale agrees to new terms with Mitsui Mozambique coal assets
Vale said on Thursday it has agreed to new terms for the sale of stakes in a coal mine and railway project in Mozambique to shareholder Mitsui & Co, in a deal that will raise $768-million and could help Vale free up to $2.7-billion in funding commitments for both projects. …
Read More »A world-first for fuel efficiency in open cast mining from Siemens SA
Billions of litres of diesel are consumed annually by the global mining industry, which is under severe pressure from weak commodity prices. Up to 80% of this costly fuel consumption comes from haulage trucks moving uphill on ramps. A Namibian uranium mine is overcoming this challenge with six 11 MW …
Read More »Copper outlook dim as macroeconomic challenge looms
The copper price is set to dip during the second half of the year, as poor producer discipline, higher output and lower Chinese demand growth combine for a fifth consecutive year of price decline in 2016, according to a new report by market analysts at Thomson Reuters GFMS. Analysts expected …
Read More »Kibo Mining confirms delay in amalgamation of gold projects
Kibo Mining has confirmed that a minor unforeseen delay will set back finalising the definitive agreement with Lake Victoria Gold. Tanzania focused mineral exploration and development company, Kibo Mining said on Tuesday that its Memorandum of Understanding (MOU) signed with Lake Victoria Gold (Lake Victoria) to consolidate the companies’ respective …
Read More »Botswana’s new coal plans, the return to mining research, breaking hard rock with foam
It was very interesting listening to the plans of Botswana coal mining companies on South Africa call for 3 750 MW of cross- border power from independent power producers (IPPs). Much reference was made to a gazette notice put out by South Africa’s Department of Energy that opens the way …
Read More »The event was well-attended with 207 attendees from 25 countries, despite the industry downturn. It was a great opportunity to reconnect with familiar faces and to welcome the 40% who attended an ALTA conference for the first time. We thank all participants for contributing to its success. The 21st annual …
Read More »SADC to Commission 3000 MW of New Power in 2016
Member states of the Southern African Development Community (SADC) plan to commission new power projects that will add 3059 megawatts of electricity this year as the region targets to ensure that it meets its energy needs by 2020. According to the Southern African Power Pool (SAPP), which coordinates the planning, …
Read More »Anglo diamond, copper, coal, manganese alloy, niobium outputs fall
Diversified mining company Anglo American has produced less diamond, copper, coal, manganese alloy and niobium in the three months to March 31. Diamond production fell by 10%, copper production by 19%, export thermal coal by 13%, export metallurgical coal by 9%, Eskom coal by 8% and niobium by 13%. Refined …
Read More »New hope for the industry: sniffing out copper deposits
Geologists have developed a new and inexpensive technique to find copper deposits in volcanic rocks. With so much of the earth’s copper already dug up and companies desperately needing cost-effective ways to locate more reliable resources, could this technology prove to be a saviour? The mining industry has faced …
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