(BLOOMBERG) - Myanmar is emerging as the new frontier in the tin industry as Indonesia, the biggest shipper, seeks to restrict supply and boost prices.

Output in Myanmar will rise by 12 percent to 28,000 metric tons next year, giving it 10 percent of the global market, according to ITRI Ltd., a St. Albans, England-based industry group. Production will keep increasing partly because Myanmar Pongpipat Co. plans to expand its southern Heinda mine, Managing Director Kriangkrai Chavaltanpipat said in an interview.

Tin retreated 13 percent on the London Metal Exchange this year, the biggest loser on the bourse, as supplies increased even after Indonesia tightened rules on exports. The glut will persist through 2016, with rising shipments from Myanmar and elsewhere thwarting Indonesia’s efforts to raise prices, according to Macquarie Group Ltd....
The Mining Hub
October 23, 2014 7:00:18 AM
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(BLOOMBERG) - Ivanhoe Mines Ltd.’s South African unit, waiting for government approval for a new platinum mine, prepared to lay off 325 workers due to work at the site after keeping them on standby with full pay for more than four months.

The company began a so-called Section 189 process where it consults with worker representatives about job cuts on Oct. 15, billionaire Executive Chairman Robert Friedland’s company said today in an e-mailed response to questions from Bloomberg News.

The 212 employees and 113 contractors in northern Limpopo province have been on standby for four and a half months while Ivanplats, as the unit is called, waits for the mines ministry to notarize its mining license, the company said.

“Given that we still have no definite indication of when the mining right will be executed, we now have no choice but to begin the process established under the Labour Relations Act that could lead to a reduction in our workforce,” Ivanhoe said. The site is in “one of South Africa’s poorest regions and many family members are dependent on the incomes of our workers.”...
The Mining Hub
October 23, 2014 6:57:20 AM
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Woulfe Mining Corp has announced a revised mineral resource estimate for its Sangdong Tungsten Project. The company determined, after a detailed review during 2013 that it was urgent and necessary to reassess and de-risk the 2012 TetraTech feasibility study of the project.

To this end, Woulfe embarked on an additional phase 5, closely-spaced grid drilling program, which started in April 2014 and was completed in August 2014. The recent drilling program added 11,340 metres of resource definition drilling to the data available for the 2012 TetraTech study.

In addition to the drilling program, an important and necessary geotechnical study was carried out by Turner Mining and Geotechnical during June and July 2014, using a database that increased from 22 to more than 400 geotechnically-logged boreholes. The 2014 drilling program, combined with an enhanced geotechnical database, provides satisfactory input for the completion of a revised feasibility study which is expected to be released by the end of 2014....
The Mining Hub
October 23, 2014 6:50:56 AM
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Zinc prices rose the most in two months as inventories dropped to the lowest since August, adding to signals that global supplies are shrinking for the metal used to galvanize steel.

Stockpiles in warehouses monitored by the London Metal Exchange dropped 0.4 percent to 717,050 metric tons, the lowest since Aug. 12. Zinc is the favored industrial metal to gain next year, according to a survey by the LME this week. A global industry group is forecasting supply deficits in 2014 and 2015.

“This should translate in the medium term into higher zinc prices,” Daniel Briesemann, an analyst at Commerzbank AG in Frankfurt, said in a report. “The situation on the global zinc market is very tight.”

Zinc for delivery in three months climbed 2.2 percent to settle at $2,259.50 a ton at 5:50 p.m., the biggest gain since Aug. 20. Yesterday, the metal touched $2,166, the lowest since June 25.

Demand will exceed production by 403,000 tons in 2014, driven mainly by increasing usage in China for steel-sheet production, the International Lead and Zinc Study Group said on Oct. 17. The supply deficit was forecast at 366,000 tons in 2015.....
The Mining Hub
October 23, 2014 6:48:19 AM
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Mining giant BHP Billiton's shares have jumped after it lifted production in its key iron ore, coal and petroleum divisions.

Chief executive Andrew Mackenzie said BHP was on track to reach its target of 16 per cent production growth over the two years to the end of the 2015 financial year.

He also repeated plans for BHP to become the lowest cost producer of iron ore in the world, by cutting cash costs to less than $US20 a tonne as ramps up production.

BHP shares had lifted 45 cents, or 1.3 per cent, to $34.20 by 1220 AEDT.

The company's West Australian iron ore joint venture lifted production 15 per cent in the three months to September, compared to a year ago, to a quarterly record of 62 million tonnes.

BHP's total iron ore output was up 17 per cent from the same time the previous year, and one per cent compared to the June quarter....
The Mining Hub
October 23, 2014 6:44:03 AM
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Two of Kambalda's heaviest hitters are headed for the Supreme Court, with South Africa's Gold Fields launching legal action against BHP Billiton over the supply of water to its St Ives operation.

Gold Fields lodged a writ in Perth last week seeking the court's intervention in a running dispute over whether BHP's Nickel West has an ongoing obligation to supply St Ives with water from Kambalda.

The dispute has its roots in the break up of Western Mining Corporation's assets more than a decade ago. Both St Ives and Nickel West were once owned by WMC.

A water supply agreement with the gold miner remained in place after the Water Corporation took over WMC's water and waste water treatment facilities in 2005, and it is understood the dispute between the two relates to that agreement....
The Mining Hub
Nickel West
October 23, 2014 6:40:17 AM
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ECUADOR – Kinross Gold Corp. of Toronto has sold its Fruta del Norte gold project to Vancouver's Fortress Minerals Corp., a member of the Lundin Group. The price is reported to be US$240 million in cash and equity.

Depending on the amount Fortress raises with an equity financing, Kinross will receive between US$100 million and US$190 million. The Lundin Family Trust has committed up to US$100 million. The balance of the sale price will be paid in Fortress shares. The transaction is expected to be completed by mid-December 2014.

Kinross announced in August 2013 that it was suspending development at Fruta del Norte in the face of extreme tax demands from the Ecuadorian government. This time around, the government reportedly supports the change in ownership. Kinross and Fortress have entered into talks aimed at creating bilateral agreements to facilitate development....
The Mining Hub
Fruta del Norte
October 23, 2014 6:35:10 AM
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MELBOURNE - China's Baosteel has snared the former boss of Iron Ore Holdings (IOH) to lead the development of its West Pilbara Iron Ore project in Australia, in a blow to IOH's new owner, BC Iron Ltd.

BC Iron said on Wednesday former IOH MD Alwyn Vorster had resigned from the board of BC Iron as he had been appointed general manager iron ore at Aquila Resources, which Baosteel took over earlier this year.

"While we are disappointed to lose Alwyn, it is a great opportunity for him," BC Iron chairman Tony Kiernan said in a statement....
The Mining Hub
October 23, 2014 6:33:37 AM
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PERTH (miningweekly.com) – The New South Wales Planning Assessment Commission (PAC) has refused diversified major Anglo American’s application to develop the Drayton South mine, claiming it would negatively affect the Coolmore and Dudley horse breeding studs.

The Drayton mine has been in operation since 1983 and produces about five-million tons a year of thermal coal, and although the project currently has mine approval until 2017, Anglo American has said that its coal reserves would run out by 2015.

The expansion project, known as Drayton South, would see operations increase to seven-million tonnes a year, while increasing the mine life by about 21 years.

In December 2013, the PAC conducted a review of the proposed expansion, concluding that the opencut mine should not proceed at the planned scale, or in the location proposed, prompting the miner to revise its mine plan.

The current mine plan, which would increase production to seven-million tonnes a year would also include the development of associated infrastructure such as haul roads, access roads, overburden placements, extending utility services, and two pipelines to the Hunter river....
The Mining Hub
October 23, 2014 6:29:04 AM
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