Running on empty: Tamborine Mountain and the growing anger over water mining

By: Ben Smee The Queensland community’s three commercial operations send 100m litres of water a year off the mountain At Tamborine Mountain, one of the largest sources of Australia’s bottled drinking water, locals are waiting more than six weeks for deliveries to fill their dry water tanks. The community in the Gold Coast hinterland is one of very few in eastern Australia with no reticulated water supply. Dozens of local bores have run dry as a result of the drought, and many others flow intermittently. The backup water source, a tanker filling station at nearby Canungra, has been closed until further notice. To read more:

Lawrence Roulston: The Smart Money in Mining is Positioning Right Now

By: Scott Tibballs According to Lawrence Roulston, who is managing director at WestBay Capital, the smart money in the resources industry is positioning itself for the next big upswing right now. “The smart money is getting in there and getting positioned, and once the smart money is in there, the broader investor base is going to start getting into the market. The smart money is made by those that get in early,” he explained. Speaking with the Investing News Network at Mines and Money London, Roulston drilled down on why the smart money is moving and where it is going. To read more:

Record Blackouts Shut South Africa Mines as Recession Risk Rises

By: Felix Njini and Prinesha Naidoo Platinum and gold mines in South Africa stopped operations as the country was hit by record levels of rolling blackouts that are crippling key parts of the economy, threatening another recession. Producers including Sibanye Gold Ltd., the world’s biggest platinum miner, recalled workers from underground and stopped milling ore after state-owned power utility Eskom Holdings SOC Ltd. announced late Monday it would cut 6,000 megawatts from the grid to prevent a complete collapse. To read more:

Matador Mining intercepts high-grade at Window Glass Hill, Canada

By: Ashleigh Melanko Matador Mining (MZZ) has provided an update regarding exploration work at its Cape Ray Gold Project in Canada A major focus for the 2019 exploration program has been the Window Glass Hill deposit Results grading up to 33.3g/t gold were identified The company now remains on track to release an updated JORC mineral resource estimate during January 2020 Matador has ended the day steadily with shares trading for 26 cents apiece  Matador Mining (MZZ) has provided an update regarding exploration work at its Cape Ray Gold Project in Canada. A major focus for the 2019 exploration program has been the Window Glass Hill deposit which is located approximately 1 kilometre from the Central Zone. Given the success of this program, Matador has undertaken

Continental Gold takes all-cash offer as gold mining space continues to heat up

By: Gabriel Friedman China’s Zijin Mining Co. Ltd. on Monday extended its shopping spree of Canadian junior mining assets, announcing a $1.4 billion all-cash purchase of Toronto-based Continental Gold Inc. at a 29 per cent premium to its share price during the past month. Through the deal, Zijin, a diversified miner with gold, copper and zinc assets, gains Continental’s prized Buritica project, a mine that’s under construction just outside Medellin, Colombia that’s expected to produce roughly 300,000 ounces of gold per year beginning in 2020. The move follows Zijin’s $1.86-billion takeover in late 2018 of Nevsun Resources Ltd., a Canadian junior miner that was developing a copper-gold project in Serbia. To read more:

Editorial: Thompson mining’s future looking brighter, but when?

By: Thompson Citizen Although it wasn’t really that long ago that the mining industry was booming in Thompson – if you’ve lived here longer than 10 years, you experienced at least part of it – it might feel like it’s mostly been gloom and doom for a long time because, for the most part, it has.  The 2008 global recession, which was a bit delayed in arriving in Thompson, although eventually it did, was only first starting to be felt when Vale announced nine years ago this month that it had plans to shut down the smelter and refinery in Thompson for good. At the time that it was first announced, the proposed shutdown date was 2015, though that was

Venezuela Unveils First Gold Processing Complex in Mining Arc

By: Paul Dobson Mérida, November 25, 2019 (venezuelanalysis.com) – The Venezuelan government has launched its first gold processing complex as part of efforts to overcome US-led sanctions. According to government sources, the Manuel Carlos Piar Complex in Matanzas, Bolivar State will initially process twenty kilograms of gold per month. When completed, it will reportedly have a capacity of 200 kilograms a month, which would make the complex the fifth largest in Latin America. The installation employs 150 workers and is made up of nine heap leaching plants which transform gold ore into commercially marketable gold bars. To read more:

Rising silver and gold prices? Still not good enough, says mining analysts

By: Neils Christensen (Kitco News) - A strong third-quarter performances within the gold mining sector should help to attract some investment attention, but more work needs to be done, according to one Canadian bank In a report published late Wednesday, analysts at BMO Capital Markets said mining companies need more than just higher precious metals prices to attract investors; companies need to continue to show their commitment to creating value. “We expect Q3 piqued some interest from generalist investors, but in our view it will take more than one quarter of positive momentum to make a trend. Returns to investors, whether through dividends or share repurchases, will increasingly come into focus,” the analysts said. “Let’s be clear, the investing landscape has evolved

Cleaner minerals: could a new framework clean up the industry?

By: JP Casey With minerals such as cobalt and bauxite seeing increased demand, the Organisation for Economic Co-operation and Development (OECD) has updated its framework for the responsible mining of the commodities. JP Casey breaks down the group’s report and how a range of companies are engaging with the framework. To read more:

In Kimberley, the World’s Diamond Capital, Illicit Mining Fight Flounders

By: TANISHA HEIBERG AND Helen Reid KIMBERLEY, South Africa (Reuters) - The first South African project to bring illegal miners into the formal fold has been plagued by violence in diamond capital Kimberley, dealing a major blow to national efforts to stem a booming illicit trade. The project was launched 18 months ago in Kimberley, the site of a 19th-century diamond rush that lured fortune-seekers from the world over. Mine owners granted more than 800 unlicensed, or informal, small-scale miners the right to legally mine around 1,500 acres of diamond-rich waste fields. To read more: