The uncertainty caused by the current geopolitical climate may only be temporary, but it could affect activity in mergers and acquisitions (M&A) in metals and mining into 2019, according to a report by consultancy firm PwC.Geopolitical instability and trade tensions may have played a role in depressing the number of deals in 2018 compared with the previous two years, and the sector faces uncertain...Read More
Multidisciplinary engineering and environmental consultancy Knight Piésold aims to expand its mining capability and market share, especially in tailings, as well as assist mines in developing renewable-energy projects in remote areas where grid power is unavailable or unreliable, says Knight Piésold mining technical director Andrew Copeland.He tells Mining Weekly that, in South Afric...Read More
(IDEX Online) - ALROSA reports diamond production volume in 2018 at 36.7 million carats and sales of 38.1 million carats (down 8%). Sales proceeds increased by 6% to $4.5 billion. In Q4 2018, diamond production decreased by 2% q-o-q (up 2% y-o-y) to 10.3 million carats driven by seasonal suspension of production at alluvial deposits, which was almost fully offset by increased output at und...Read More
(IDEX Online) - De Beers reported that rough diamond sales volumes totaled 9.9 million carats (9.2 million carats on a consolidated basis) from three sales cycles, compared with 8.2 million carats (7.5 million carats on a consolidated basis) from the same number of sales cycles during the equivalent period in 2017. Fourth quarter rough sales revenues increased year on year as the re-phased...Read More
Australian miner New Century Resources is delivering 14,000 tonnes of zinc concentrates on spot-market terms to Europe, the tailing reprocessing project operator said on Monday January 21.The parcel is now en route to Europe, after being sold to an existing offtake partner, according to a company statement.New Century Resources' project is the first of its kind to generate significant output from...Read More
The 2019 Investing in African Mining Indaba – to be held at the Cape Town International Convention Centre from February 4 to 7 – will be the twenty-fifth iteration of the event, and the “world’s largest mining conference” having reached this milestone is testimony to its relevance and value, says Minerals Council South Africa public affairs and transformation senior e...Read More
RAPAPORT... Three industry members have found homes in executivepositions at Jewelers' Security Alliance (JSA), Jewelers Mutual Insurance Group and RoyalAsscher. Steven Kaiser was elected chairperson of the JSA board,replacing Stewart Wicht, the recently retired CEO of Rolex Watch USA, whocompleted his term. Kaiser will serve a three-year term alongside other boardmembers, including Alan Zimmer o...Read More
RAPAPORT... Recovery of lower-grade ore at Rio Tinto's Argyle and Diavikmines led to a 15% drop in the company's diamond production to 18.4 million carats in 2018.Output at the Argyle asset in Australia slid 18% to 14.1 million carats for the full year, Rio Tinto reported Friday. In 2017, operational performance at the mine was enhanced by the processing of higher-grade alluvial tailings...Read More
RAPAPORT... Luk Fook's same-store sales dropped 10% in the third fiscal quarteramid economic weakness in greater China. The depreciation of the Chinese yuan against the Hong Kong dollarled customers to purchase cheaper products in the three months ending December31, the retailer said Thursday. Luk Fook, one of Hong Kong's largest jewelers, derives asignificant proportion of its revenue from...Read More
A summary of MMG's production results for the year ended December 31, 2018. IN BRIEF: Ramp-up of Dugald River mine drove significantly-increased zinc and lead concentrate production. Las Bambas wall instability impeded mine access and...Read More
Lucara Diamond Corp continues to make progress with the feasibility study for a potential underground operation at its 100%-owned and operated Karowe diamond mine, in Botswana.Following the release of a positive preliminary economic assessment (PEA), the company last year embarked on a technical programme to support a feasibility study for a potential underground operation at Karowe, with the aim...Read More
Kazakhstan-based Kaz Minerals plans to increase its copper production by developing the Baimskaya copper project in Siberia, having taken control of the asset in January 2019.The company announced its acquisition of Baimskaya at a cost of $900 million in August 2018, and finalized the acquisition this year.Kaz forecasts that, once production at the mine begins, it will average 250,000 tonnes per y...Read More
Aim-listed BlueRock Diamonds has temporarily suspended operations at its Kareevlei mine in the Kimberley region of South Africa, owing to the imposition of a Section 54 notice from the Department of Mineral Resources (DMR).The Section 54 notice is in relation to the code of practice relating to the operation of trackless mining machines only and resulted from an accident on Friday involving an ext...Read More
Diamond miner De Beers has lowered its production guidance for 2019 to between 31-million and 33-million carats.The company, which on Thursday reported production of 35.3-million carats for the 2018 financial year, attributes the lower production guidance to its existing Venetia openpit, in South Africa, where the Venetia underground mine will become the principal source of ore from 2023.Advertise...Read More
M2 Cobalt Corp and Jervois Mining Ltd are to merge in a deal that will complement the latter's ambitions in East Africa as part of its focus on the growing battery metals market. Upon completion of the deal, which has been approved by both boards, existing Jervois shareholders will own 77.9% of the new company while 22.1% will be owned by current M2 Cobalt shareholders. In late 2017, the company c...Read More
Russian diamond miner Alrosa reported 2018 production volumes of 36.7-million carats and sales of 38.1-million carats.Production declined by 7% year-on-year, owing to the shutdown of the Mir underground mine and the completion of openpit mining at the Udachnaya pipe.AdvertisementThe sales volume decreased 8% year-on-year, but sales proceeds increased by 6% year-on-year to $4.5-billion.In the fourt...Read More
HARARE – Russian diamond giant Alrosa and Chinese-owned Anjin are the two foreign companies chosen by Zimbabwe's government to partner the state-diamond firm in exploring and mining diamonds, a state-run newspaper reported on Thursday.The southern African nation announced in December that it would allow two private companies to explore and mine gems and Alrosa said last week it had set u...Read More
TSX-V-listed Tsodilo Resources on Wednesday announced the completion of a second independent size frequency distribution (SFD) modelled grade and diamond value for the 77.94 ct parcel of 502 commercial size diamonds recovered during BK16’s large diameter drilling (LDD) programme.In December, it was discovered that the size frequency model used in an initial SFD modelling exercise had resulte...Read More
Turkish steel billet prices have increased slightly over the past week on an uptick in imported scrap values and reduced availability of billet in the CIS region, sources said on Thursday January 24.Fastmarkets' weekly price assessment for billet imports into Turkey was $410-420 per tonne cfr on Thursday, up from the $405-415 per tonne of last week.Suppliers in the Commonwealth of Independent Stat...Read More
Turkish domestic and export rebar prices have inched up this week, with mills in the country trying to increase their offers following higher scrap costs.Yet, demand was not supportive and no significant bookings have been heard over the past week, sources said on Thursday January 24.Turkish steel producers have raised their export offers to $445-460 per tonne fob on an actual weight basis but the...Read More