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Polish coal miner JSW's Q3 profit falls short of estimates Polish coal miner JSW's Q3 profit falls short of estimates
Published: 17 Nov 17
JSW, the European Union's biggest coking coal producer, reported a net profit of 360-million zlotys ($100.3-million) in the third quarter compared with a net loss of 139-million zlotys a year ago, thanks to higher coal prices and lower costs. The third-quarter bottom line in the state-run JSW missed analysts' average forecast of 522-million zlotys due to impairment reversal.
Fire hits Freeport Indonesia port facility in Papua
Published: 17 Nov 17
A fire broke out at the main port used by copper miner Freeport-McMoRan Inc in Papua, Indonesia, on Thursday night, the company said. The fire occurred at the Amamapare port in a plant where copper concentrate from the giant Grasberg copper mine is processed before loading onto vessels for shipping.
Cobalt hedging not mining the route for VW in EV drive
Published: 17 Nov 17
Volkswagen is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said. Demand for cobalt is expected to soar as carmakers rush to embrace electric vehicles (EVs) in response to governments around the world cracking down on pollution.
Alamos shareholders support Richmont acquisition
Published: 17 Nov 17
The majority of Alamos Gold shareholders have voted in favour of its planned $747-million acquisition of boutique gold producer Richmont Mines. Richmont shareholders also on Thursday approved the transaction.
Teck declares supplemental dividend of C$0.40 a share
Published: 17 Nov 17
Canadian diversified miner Teck Resources has declared a C$260-million supplementary dividend to return surplus cash on hand to shareholders, while simultaneously announcing a C$230-million share buyback programme. The Vancouver-headquartered company reported a strong balance sheet at the end of the third quarter, with cash and cash equivalents of C$1.4-billion.
Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions Argentina Lithium embarks on 10 000 m drill campaign; open to more acquisitions Has Video
Published: 17 Nov 17
TSX-V-listed lithium explorer Argentina Lithium on Thursday announced that it has appointed a new project manager to oversee a 10 000 m exploration drilling campaign at its two active projects in Argentina – located within the prospective Arizaro and Incahuasi salars. The Vancouver-headquartered company is ramping up activity in Argentina, after recently expanding the property holdings at the Arizaro project, in Salta province, by a further 7 030 ha.
Customised spillminator supplied to South African gold mine
Published: 17 Nov 17
Engineering solutions and steel fabrication company Lani Service Centre, based in Sebenza, Johannesburg, has supplied a tailor-made spillminator equipped with vesconite bushings to a local gold mine for its underground conveyor and hopper system. “The bushings are self-lubricating, can withstand the high pressures involved in the application, and are able to cope with a dirty, wet mining environment,” Lani Service Centre workshop manager Jonny van Biljon tells Mining Weekly.
Flexible couplings able  to withstand extreme  mining conditions Flexible couplings able to withstand extreme mining conditions
Published: 17 Nov 17
Manufactured by global bearings manufacturer The Timken Company, parts distributor Bearing Man Group’s (BMG’s) Quick-Flex couplings are able to withstand the most extreme mining conditions, including temperatures as high as 100 ˚C. The Timken Quick-Flex couplings, which require minimal maintenance, can be applied to hydraulics applications, pumps, gearboxes, compressors, vibrator screens and fans; they are designed to transmit torque from a driving shaft to a driven shaft and to accommodate shaft misalignment within the drive. They also dampen vibration and torque fluctuations and smooth torsional shock loads.
Moz Minerals and Energy Minister targets corruption in her department
Published: 17 Nov 17
Mozambique’s Mineral Resources and Energy Minister, Letícia Klemens, is considering revising the country’s minerals licencing process, in order to minimise, or even prevent, possible corrupt practices, local media has reported. This was one of the major outcomes of the III Coordinating Council of the Ministry of Mineral Resources and Energy, held during the first week of this month, in the city of Matola, which is adjacent to the capital, Maputo.
Collaboration with engineering firm yields nigh-R100m cost saving for Harmony Collaboration with engineering firm yields nigh-R100m cost saving for Harmony
Published: 17 Nov 17
JSE-listed Harmony Gold has partnered with Pretoria-based engineering company ETA Operations (ETA), formerly known as HVAC International, to improve the operational efficiency of Harmony’s deep-level gold mines in South Africa, subsequently resulting in significant cost savings. The operational efficiency improvement project at Harmony’s mines is primarily targeted at areas, such as improving underground conditions, increasing the efficiency of equipment and improving service delivery, says ETA senior consultant Handré Groenewald.
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