Samantha Herbst

https://staging1.creamermedia.com/

Samantha Herbst

Samantha Herbst is a deputy editor for Creamer Media's online department.

Tel: +2711 622 3744

Email: newsdesk@engineeringnews.co.za

Taseko capitalises on rising copper prices, builds on 2016 success

3rd August 2017 Building on its successes from 2016 and using the first half of 2017 to capitalise on rising copper prices, TSX- and NYSE-listed Taseko Mines has, over the past nine months, generated $192-million of cash flow from operations as well as $147-million in earnings from its mining operations, before... →

After successful Q2, Kinross on track to meet 2017 production, sales guidance

3rd August 2017 After a strong second quarter with consistent operational results, Canadian gold major Kinross Gold remains on track to meet its yearly production guidance of between 2.5-million and 2.7-million gold equivalent ounces and a production cost of sales guidance of between $660 and $720 per gold... →

Kinross Gold's Tasiast gold mine, in Mauritania

Fission intersects widest mineralisation, strongest radioactivity at PLS zone

2nd August 2017 TSX-listed explorer Fission Uranium has intersected the widest mineralisation and some of the strongest radioactivity to date at its Patterson Lake South property in Canada’s Athabasca basin, following the results of an additional two holes drilled to test the recently discovered, land-based... →

Osisko acquires high-quality previous metals portfolio

2nd August 2017 TSX- and NYSE-listed Osisko Gold Royalties has acquired a high-quality precious metals portfolio of assets comprising 74 royalties, streams and precious metal offtakes from Orion Mine Finance Group, in exchange for $675-million and about 31-million shares in Osisko. Osisko now holds a total of... →

Radius sells Mexico property to Fortuna

2nd August 2017 TSX-V-listed exploration company Radius Gold has completed the sale of its Tlacolula property, in Mexico, to TSX-listed Fortuna Silver Mines for $150 000 cash, about 240 000 Fortuna common shares and a 2% net smelter return royalty on the property. →

Great Panther appoints former Aura Minerals boss Bannantine as CEO

2nd August 2017 TSX- and NYSE-listed silver miner and explorer Great Panther Silver has appointed Jim Bannantine president and CEO, following the resignation of Robert Archer, who announced his intention to step down this year in April. "Jim brings a record of exceptional leadership, growing companies and deep... →

From loss to profit, Golden Star sees fifth consecutive quarter of production growth

2nd August 2017 The second quarter of 2017 marked Ghana-focused Golden Star Resources’ fifth consecutive quarter of production growth, according to a trading update published Tuesday. The New York-, Toronto- and Ghana-listed midtier miner saw a 51% year-on-year increase in gold production in the quarter to 64... →

Record production at Fosterville prompts Kirkland Lake to up 2017 guidance

2nd August 2017 Based on strong operating and financial results for the first half of 2017, dual-listed gold producer Kirkland Lake has revised its production guidance for the year to between 570 000 oz and 590 000 oz, up from between 530 000 oz and 570 000 oz previously. This follows record results at the... →

Centerra sees eight-fold quarterly increase, ups 2017 guidance

1st August 2017 TSX-listed Centerra Gold has upped its second-quarter net earnings by a whopping 706% year-on-year, according to a release published Monday. The Canadian gold major reported net earnings of $23.4-million, or $0.08 per common share, on revenues of $279.2-million for the three months ended June 30,... →

Kumtor gold mine, Kyrgyzstan

Cash-strapped ASA Resource Group suspends trading on Aim

28th July 2017 Cash-strapped diversified miner ASA Resource Group has suspended the trading of its ordinary shares on the Alternative Investment Market, with effect from 11:00 on Friday morning. The Africa-focused miner attributed its cash constraints to currency restrictions imposed by the Reserve Bank of... →

SacOil to acquire local fuels wholesaler

27th July 2017 JSE-listed SacOil is in talks to acquire a South African fuels wholesaler that owns and operates a substantial fleet of heavy-duty tankers, the company announced Thursday. The wholesaler sells fuel products, namely diesel, petrol and paraffin, on a bulk basis to its customers operating within... →

Goldplat’s profit to exceed market expectations

27th July 2017 Having closed off a successful fourth quarter ended June 30, Aim-listed Goldplat expects its consolidated profit before tax to exceed market expectations for the financial year, the results of which will be announced in September. The Africa-focused gold producer, which has gold recovery... →

Goldplat's GPL facilities, in Gauteng, South Africa

Moratorium aside, Zwane approves Lonmin’s bid to acquire Anglo’s Pandora stake

26th July 2017 Mineral Resources Minister Mosebenzi Zwane has given platinum major Lonmin the go-ahead to acquire Anglo American Platinum’s 42.5% stake in the Pandora platinum joint venture (JV) operation, which saves the 3 000 jobs that would have been lost had the operation been placed under care and... →

Liberty Two Degrees acquires additional shares in Liberty property portfolio

26th July 2017 JSE-listed real estate investment trust (Reit) Liberty Two Degrees (L2D) will acquire additional undivided shares in properties co-owned by financial services company Liberty Holdings (Liberty) to the value of R2.51-billion, boosting L2D’s share in the Liberty property portfolio from 22% to 31%.... →

Joffe’s Long4Life to acquire Sportsmans, Outdoor Warehouse

25th July 2017 Business mogul Brian Joffe’s new investment holding company, Long4Life, which recently debuted on the JSE, has announced its intention to acquire local cash retailer Holdsport, which trades as Sportsmans Warehouse and Outdoor Warehouse. With Long4Life’s offer being implemented by way of a scheme... →

Industry retaliates, dismisses Zwane's proposed moratorium as 'unlawful'

20th July 2017 An outraged Chamber of Mines (CoM) has dismissed Mineral Resources Minister Mosebenzi Zwane’s proposed moratorium on new mining right applications as “unlawful”, owing to the damage that the proposal might inflict on the embattled mining sector and because, according to the chamber’s legal team,... →

Law firm Webber Wentzel partner Jonathan Veeran

Ivanhoe appoints two more financiers to find funds for Platreef

19th July 2017 Africa-focused platinum-group metals (PGM) miner Ivanhoe Mines has appointed mine-financing institutions KfW IPEX-Bank and the Swedish Export Credit Corporation (SEK) to arrange project financing for the development of the Platreef project in South Africa’s Limpopo province. The German... →

Ivanhoe chairperson Robert Friedland

Temporary mobile transformer helps Loeriesfontein connect to the grid

18th July 2017 The Northern Cape-based Loeriesfontein Wind Farm has been making use of a mobile transformer to allow for an early connection to the grid for the commissioning of the turbines – a temporary solution until the wind farm can connect to the Helios substation, which is the permanent grid connection.... →

Vukile raises R900m after heavily oversubscribed placement

18th July 2017 JSE-listed Vukile Property Fund has raised R900-million after closing a same-day, heavily oversubscribed bookbuild, initially aimed at raising R500-million. Seeing strong demand for shares, the real estate investment trust raised the capital through the placement of about 48-million new shares →

Lithium Americas inks investment agreement with Thai energy company

18th July 2017 Niche minerals company Lithium Americas has closed an investment agreement with BCP Innovation, a wholly owned subsidiary of Thai energy company Bangchak Corporation Public Company, in which the latter has agreed to provide Lithium Americas with an aggregate of $113-million to fund a portion of... →

Production at Oyu Tolgoi remains steady at +3.5% q/q

18th July 2017 Second-quarter production at Turquoise Hill Resources’ Oyu Tolgoi gold/copper mine, in Mongolia, proceeded as planned and remained steady quarter-on-quarter, the Vancouver-based miner revealed on Monday. Ore treated in the quarter was impacted by a scheduled five-day maintenance shutdown in May,... →

Oyu Tolgoi mine, Mongolia

Dawn signs nonbiding MoU for potential disposal of shares

11th July 2017 JSE-listed branded hardware, sanitaryware and civil products manufacturer Distribution and Warehousing Network (Dawn) has signed a non-binding memorandum of understanding with the controlling shareholders of Grohe Dawn Watertech (GDW) for the potential disposal of Dawn’s 49% shareholding to GDW.... →

Strike would threaten MEIBC's continued existence – Solidarity

6th July 2017 With wage negotiations in the metals and engineering sector coming to a standstill, Solidarity fears that if a strike is the result it would jeopardise the Metal and Engineering Industries Bargaining Council (MEIBC), the trade union said on Thursday. Trade unions and employers reached a deadlock... →

Solidarity deputy general secretary Marius Croucamp

Coal stakeholders agree to proceed with centralised bargaining

8th June 2017 Local coal producers and labour unions have agreed that the 2017 coal sector wage negotiations will take place centrally under the auspices of the Chamber of Mines (CoM). Gathering at the CoM on Friday, coal producers Anglo Coal, Delmas Coal, Exxaro Coal Mpumalanga, Kangra Coal, Koornfontein... →

Sunrise discharges first LPG shipment through Saldanha Bay terminal

2nd June 2017 One of two international traders – and their local joint venture partners – who have commercial agreements in place with South Africa-based energy infrastructure company Sunrise Energy on Thursday discharged 2 450 t of liquefied petroleum gas (LPG) through Sunrise’s Saldanha Bay terminal, in the... →

Former President Mbeki appointed Unisa chancellor

9th December 2016 In an effort to sustain the reputable profile of outgoing University of South Africa (Unisa) chancellor Judge Bernard Ngoepe, who served the university for 15 years before stepping down this week, Unisa has appointed former South African President Thabo Mbeki its new chancellor. In a media... →

Former President Thabo Mbeki

Laramide, Uranium Resources ink LoI to amend terms of payment

6th December 2016 Dual-listed uranium developer Laramide Resources has signed a letter of intent (LoI) with Texas-based miner Uranium Resources to amend the definitive share purchase agreement, signed on April 6, stipulating that Laramide would acquire Uranium Resources’ wholly owned subsidiary Hydro Resources,... →

Columbus announces maiden resource estimate of 721 000 oz at Eastside project

6th December 2016 TSX-listed Columbus Gold announced on Monday that the maiden resource for the company’s 100%-owned Eastside gold-silver project, in Nevada, in the US, is estimated to be a total of 721 000 oz of gold equivalent. At a cutoff grade of 0.15 g/t gold, coupled with a gold price of $1 300/oz, the... →

SNC-Lavalin awarded EPC contract from Codelco for sulphuric acid plant construction

23rd November 2016 Chile-based Corporación Nacional del Cobre de Chile (Codelco), one of the world’s largest copper producers, has appointed TSX-listed engineering and construction group SNC-Lavalin to construct two sulphuric acid plants at the Chuquicamata copper smelter complex, located in the Antofagasta region... →

Tharisa concludes project completion tests, reduces debt levels

15th November 2016 Dual-listed platinum-group metals (PGMs) miner Tharisa Minerals has successfully concluded project completion tests in respect of a R1-billion senior debt finance facility, which will significantly reduce the group’s cost of debt. In a note to shareholders on Tuesday, Tharisa explained that the... →

Local air travel maintains positive growth trajectory year-on-year

15th November 2016 Air passenger numbers climbed steady year-on-year in the third quarter of 2016, according to Airports Company South Africa’s (ACSA’s) latest Aviation Barometer for the three months to September 30. ACSA recorded a 4.4% year-on-year increase in total arrivals and departures, compared with the... →

Transfer delays impact on Balwin’s otherwise solid H1 performance

15th November 2016 Three property registration delays have impacted on Balwin Properties' otherwise glowing half-year results, according to the residential property developer, which saw a 36% decline in headline earnings a share and earnings a share to 37c respectively in the six months to August 31. The group’s... →

Balwin CEO Stephen Brookes

Argentina adopts Canada’s sustainable mining initiative

20th October 2016 Argentina’s national mining association, Cámara Argentina de Empresarios Mineros (CAEM), has announced that it will adopt Canada’s Towards Sustainable Mining (TSM) initiative, a corporate social responsibility programme developed by the Mining Association of Canada (MAC) to improve environmental... →

Oyu Tolgoi sets all-time high for quarterly mined material in Q3

20th October 2016 Rio Tinto subsidiary Turquoise Hill Resources’ Oyu Tolgoi mine, in Mongolia, set an all-time high of 25-million tonnes of quarterly mined material in the third quarter of 2016, including stripping for Phase 4 of the project, which is the next area of high-grade ore. CEO Jeff Tygesen said the... →

Oyu Tolgoi, Mongolia

Stornoway officially opens Québec-based Renard diamond mine

20th October 2016 TSX-listed Stornoway Diamond Corporation’s Québec-based Renard diamond mine, the only diamond mine in the province, was officially opened on Wednesday at a ceremony presided over by Québec Energy and Natural Resources Minister Pierre Arcand. Stornoway president and CEO Matt Manson noted that the... →

Necsa receives first R1.7m in settlement of Russian fabrication contract

11th October 2016 State-owned nuclear company the South African Nuclear Energy Corporation (Necsa) has been paid the first R1.7-million of a fabrication contract to manufacture nuclear reactor components for Russia. The first items fabricated at the Pelindaba site of Necsa, outside Pretoria, have been delivered to... →

Necsa CEO Phumzile Tshelane

BHP JV partner reports positive drill results from Canada copper project

11th October 2016 BHP Billiton joint venture (JV) partner Aston Bay Holdings has reported evidence of high-grade copper at the Storm copper project, in Nunavut, Northern Canada, following preliminary drill results from this year’s summer field season. TSX-V-listed Aston Bay, which owns 25% of the project, while... →

Advancements at Nemaska’s Whabouchi mine on time and budget

7th October 2016 The Phase 1 plant and site preparation of TSX-listed project developer Nemaska Lithium’s Whabouchi mine, in Quebec, Canada, is advancing on time and within budget. Nemaska, which has signed a five-year natural gas contract, noted on Thursday that electrical lines had been installed at the Phase 1... →

Copper Mountain’s yearly guidance slightly ahead for 2016

7th October 2016 Annual production is on track at TSX-listed copper and gold producer Copper Mountain Mining’s eponymous mine, in southern British Columbia, which produced 22-million pounds of copper, 8 170 oz of gold and 81 540 oz of silver in the third quarter, bringing production guidance slightly ahead for... →

NWU to take on international competition at 2016 Solar Challenge

16th September 2016 Various improvements, including the exclusive use of include German-made Gochermann solar panels, have been made to the North-West University (NWU) solar car team’s Sirius X25 enabling the R1-million sponsored solar car to perform about 20% more effectively. Nearly a year after becoming the first... →

Karnalyte completes Phase 2 optimisation at Wynward

7th September 2016 Potash project developer Karnalyte Resources has successfully commissioned the second phase of its Brine Production Phase optimisation programme at the company's Wynyard potash mine, in Saskatchewan. Karnalyte president Robin Phinney commented on Tuesday that the company had completed... →

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