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Pantoro hits targets
Published: 16 Jul 18
Gold miner Pantoro has hit its production targets for the full year ending June, producing 52 203 oz of gold, which was within the guidance of between 50 000 oz and 55 000 oz. In the three months to June, Pantoro produced 11 694 oz of gold, which is lower than the 13 385 oz produced in the previous quarter, as a result of unexpected mining dilution.
Whitehaven production drops slightly
Published: 16 Jul 18
New South Wales coal miner Whitehaven Coal has reported a fall in production during the June quarter, and the full year to June, with mechanical issues reported at its Narrabri mine. In the quarter ended June, Whitehaven produced 5.8-million tonnes of run-of-mine (RoM) coal, with 4.7-million tonnes of saleable coal produced. This compared with the 6.5-million tonnes RoM and 5.4-million tonnes of saleable coal produced in the previous corresponding period.
India's Oil Ministry supports petcoke import ban – govt lawyer tells court
Published: 16 Jul 18
India's Oil Ministry is in favour of a ban on the import of petroleum coke, the government's lawyer told the Supreme Court on Monday. An oil refinery by-product, petroleum coke, or petcoke, is used as a fuel because of its higher energy content than coal, but it releases larger amounts of carbon dioxide and sulphur dioxide, which can cause lung disease and acid rain.
Indian captive coal miners likely to be allowed merchant sale
Published: 16 Jul 18
In a forthcoming revamp of coal block auction rules, India’s Coal Ministry is likely to allow captive miners free merchant sales of 25% of production in a step towards blurring the distinction between commercial and captive mining. The move towards greater flexibility for captive coal miners is aimed at ensuring higher participation for the auctioning of 19 coal blocks in the current financial year and comes against the backdrop of two previous planned rounds of auctions being cancelled owing to poor investor response.
Six die in underground fire at Palabora copper mine
Published: 16 Jul 18
Mining company Palabora Copper confirmed on Monday that six people have died at its copper mine in Phalaborwa, following a fire that broke out at its underground conveyor belt operation during the early hours of Sunday.
Top-grade iron-ore may spike to $100/t Top-grade iron-ore may spike to $100/t
Published: 16 Jul 18
High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material. After sinking in March, top-quality ore with 65% iron content gained every month, hitting $91/t on Friday, and keeping it in positive territory this year even as global trade frictions mounted, according to Mysteel.com. In contrast, benchmark 62% ore has flat-lined in the $60s, and is down 14%. The divergence has exploded the gap between the two.
How mining tycoons are trying to foil a big UK bribery probe How mining tycoons are trying to foil a big UK bribery probe
Published: 16 Jul 18
It’s a faint echo of the defense being floated by targets of the Mueller probe in the US – an unaccountable circle of bureaucrats manipulating the system to their own ends. But in London, it’s the last ditch effort by a trio of Kazakh oligarchs to derail the UK’s biggest bribery investigation.
MGX to earn into Belmont’s Nevada lithium property
Published: 13 Jul 18
Diversified miner MGX Minerals has entered into an option agreement to earn into the Kibby Basin lithium brine project, in the western portion of the Great basin in Nevada, the Canadian firm announced on Friday. MGX will acquire an initial 25% interest in Kibby Basin from TSX-V-listed Belmont Resources by funding up to C$300 000 for a drilling programme. The target area will be an anomaly discovered by a magnetotelluric survey carried out by Belmont in January this year.
Total’s acquisition of Engie LNG portfolio closes
Published: 13 Jul 18
Petroleum giant Total’s acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.5-billion, has closed.
Copper trains ransacked by 'moles' in full-moon desert heists Copper trains ransacked by 'moles' in full-moon desert heists
Published: 13 Jul 18
On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile’s Atacama desert, before throwing 80-kg slabs of copper to the ground and disappearing into the dark. It’s a tactic known as “the cat” and the robbers are “moles” because no one knows where they come from or where they hide their loot. What’s worse for the mines that dot the desert, the robberies are becoming more common and more audacious.
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