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Better regulations needed to prevent tailings dam failures – UNEP Better regulations needed to prevent tailings dam failures – UNEP
Published: 15 Nov 17
In the last decade, there have been over 40 mining waste failures, killing some 341 people and damaging hundreds of kilometers of waterways, affecting drinking water sources and the livelihood of communities, a new report entitled ‘Mine Tailings Storage: Safety Is No Accident’, reveals. The report, published by the United Nations Environment Programme (UNEP), which urges governments and industry to act to stop deadly and damaging mining spills worldwide, has received wide support from an international coalition of nongovernmental organisations and called for an urgent UN Environment Stakeholder Forum to strengthen regulations internationally.
Polish copper producer KGHM cuts 2017 investment and output targets
Published: 15 Nov 17
Polish copper producer KGHM cut its 2017 capital investment to around 510-million zlotys ($141.88-million) from an expected 1.02-billion due to the improving results of its foreign assets, the company said on Wednesday. The state-run firm also said that this year's output of electrolytic copper from its own concentrates will be 35 000 t than the planned 401 000 t due to an accident at its smelter.
Flawless 163 ct diamond reaps $34m in auction
Published: 15 Nov 17
A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned.
Walkabout buys Lonmin’s Northern Ireland exploration portfolio Walkabout buys Lonmin’s Northern Ireland exploration portfolio
Published: 15 Nov 17
Graphite developer Walkabout Resources on Tuesday announced its plans to diversify its exploration portfolio, with the acquisition of platinum miner Lonmin’s Northern Ireland exploration portfolio. Under the terms of the transaction, Walkabout acquired Lonmin’s Northern Ireland exploration portfolio and assets for $100 000, which was paid in two installments.
Myanmar raises A$7m for Bawdwin
Published: 15 Nov 17
Base metals explorer Myanmar Metals will raise A$7-million through a share placement to help fund work at its Bawdwin zinc/lead/silver/copper project, in Myanmar. The company on Wednesday announced that it had received binding commitments for 100-million new fully paid shares, at a price of 7c each from investors in both Australia and Asia.
AWE launches A$48m capital raise
Published: 15 Nov 17
Oil and gas explorer and producer AWE is hoping to raise about A$48-million through an institutional share placement and a share purchase plan (SPP). The ASX-listed company on Wednesday announced that it would issue 76.9-million shares, at a price of 50c each to institutional investors, to raise an initial A$38-million.
Liontown to drill Kathleen Valley
Published: 15 Nov 17
Lithium hunter Liontown Resources has been granted consent by the Minister of Aboriginal Affairs to start drilling at the Kathleen Valley lithium project, in Western Australia. The company on Wednesday told shareholders that it would now lodge a programme of works with the Department of Mines Industry Regulation and Safety for a reverse circulation drilling programme, which will be undertaken as soon as practicable.
Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty
Published: 15 Nov 17
Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday.
Trek raises cash, acquires Arunta project
Published: 15 Nov 17
Junior explorer Trek Metals has acquired unlisted Elm Resources in a deal valued at A$300 000. Elm Resources is the owner of the Arunta lithium and cobalt project, in the Northern Territory, which includes seven exploration licenses applications totaling 5 274 km2.
China's copper smelters insist no concentrate deficit after surprise Shanghai meeting
Published: 15 Nov 17
China's top copper smelters held an unscheduled meeting in Shanghai on Tuesday to reaffirm their position that there will be no shortage of copper concentrate supply in 2018 as the key contract renegotiation season hots up. The 10 companies on the China Smelters Purchase Team (CSPT) met to conduct a "comprehensive and systematic analysis" of supply and demand dynamics after their return from the recent London Metal Exchange (LME) gathering, an official within the group told Reuters.
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