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Corsa Coal rises 23% on strong 2018 production outlook Corsa Coal rises 23% on strong 2018 production outlook
Published: 16 Dec 17
The TSX-V-listed stock of Corsa Coal rallied as much as 23% on Friday following a company announcement calling for a much stronger metallurgical coal production outlook in 2018 and an overall increase in premium low volatile metallurgical coal sales. “In 2018, Corsa is guiding towards metallurgical coal production growth of over 60% and an overall increase in premium low volatile metallurgical coal sales of over 50% as compared to 2017 forecasted levels,” CEO George Dethlefsen said in a statement.
Vale workers in Mozambique down tools at Moatize mine over bonus pay
Published: 15 Dec 17
Workers at Brazilian mining giant Vale's Mozambique Moatize coal mine downed tools on Friday in a dispute over bonus payments, a local television station reported. The workers embarked on a strike early on Friday, paralysing work at the plant, Mozambican Miramar television reported.
Pan African completes BEE restructure
Published: 15 Dec 17
Dual-listed Pan African Resources has completed the restructuring of its black economic empowerment (BEE) ownership structures. The company has replaced the current BEE equity shareholdings in the company, held through interests in PAR Gold, with BEE shareholdings in Emerald Panther Investments.
India silver imports seen extending rebound from four-year low
Published: 15 Dec 17
Silver imports by India, one of the world’s top buyers, may keep rising next year after bouncing back this year from a four-year low in 2016, boosted by weak prices. Overseas purchases are estimated at as high as 5 500 metric tons in 2017 and may rise to about 6 000 t next year, surging from 3 000 t in 2016, according to Chirag Sheth, an analyst at London-based Metals Focus, an independent precious-metals research firm.
Ortac Resources initiates more work programmes at DRC project
Published: 15 Dec 17
Aim-listed Ortac Resources’ subsidiary Casa Mining will start additional work programmes at its Akyanga licence area, in the Democratic Republic of Congo, to incorporate parallel extensions to project, as part of the existing drill programme. This follows the completion of a review of previous exploration activity at the deposit, which identified significant additional intersected gold mineralisation at Akyanga East.
Proposed carbon tax ‘least-cost manner’ to ensuring greenhouse-gas reduction – Treasury Has PDF
Published: 15 Dec 17
The National Treasury released the Second Draft Carbon Tax Bill for public comment on Friday and averred that it “seeks to give effect to the polluter pays principle . . . and will assist, in a least-cost manner, in reducing greenhouse-gas (GHG) emissions and ensuring that South Africa meets its nationally determined contribution (NDC) commitments [under the 2015 Paris Agreement]”. The Draft Carbon Tax Bill and annexures are available on the National Treasury’s website and interested parties have until March 9, 2018, to make written submissions.
Hummingbird starts Yanfolila ore commissioning
Published: 15 Dec 17
Aim-listed Hummingbird Resources expects first gold production from its Yanfolila mine, in Mali, before the end of December as ore commissioning gets under way. “Ore commissioning represents the final step ahead of first gold production at Yanfolila. Everybody on site is totally focused on a smooth ramp up of the plant as we look to move into the production phase,” said CEO Dan Betts.
Odisha rules out extension of deadline for payment of illegal mining penalty
Published: 15 Dec 17
With the Supreme Court set deadline of December 31, to recover dues and penalties for illegal mining in eastern province of Odisha fast approaching, the government has ruled out any extension of the deadline or recalculation of the penalties recoverable from liable miners. Officials in Odisha government said that district mining officers have completed collection and collation of data from the ground level relating to all violations of mining rules by lease holders for production of iron-ore, bauxite and manganese and penalty calculations indicated that the amount recoverable from miners would be about $781-million higher than the $468-million estimated soon after the verdict of the apex court.
Ark Mines to establish gold processing plant early next year
Published: 15 Dec 17
ASX-listed Ark Mines is on track to complete its Union extended (UE) mining management plan (MMP) for the establishment and operation of a carbon-in-leach (CIL) gold processing plant in the Northern Territory by early 2018. Desktop hydrogeological studies and terrestrial ecology desktop studies have been completed and field components are under way, while field components are planned to start mid-January 2018.
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