Supply cuts a ‘step change’ for uranium price

MINEX FORUM | December 19, 2017
img0 The announcement made by uranium giant Cameco in November  that it’s suspending operations at its flagship McArthur River mine in northern Saskatchewan and surprisingly deep three-year cuts by Kazakhstan’s state-owned Kazatomprom  provide a “step change” for uranium prices says a new report on the sector from Cantor Fitzgerald equity research. On Monday, the world largest producer ...

2018 global diamond industry primer

MINEX FORUM | December 19, 2017
img0 Through mid-December 2017, rough diamond prices are up 2.7%* year-to-date, while polished prices are down 3.5%**. However, despite shrinking manufacturer margins, the midstream segment of the industry still bought $5.3B worth of diamonds from De Beers this year, including $450M at the final sight which was 7% over the comparable sight last year and 81% ...

Gold mining: the world’s cheapest jurisdictions

MINEX FORUM | December 19, 2017
img0 Abandoned Russian mining colony in Pyramiden. Creative commons image by Christopher Michel, @ChrisMichel. Story developed using data from Mining Intelligence.  When it comes to the selection of investment targets which factors are uppermost in the minds of potential investors? Naturally, the top consideration is the overall quality of the asset where the right combination of cost-efficient ...

Vast CEO resigns

MINEX FORUM | December 18, 2017
img0 Aim-listed miner Vast Resources’ CEO and director Roy Pitchford has resigned from his position, effective December 31. Vast’s Romanian subsidiary president Andrew Prelea will assume the role of Vast CEO. Vast chairperson Brian Moritz noted that Pitchford has had an invaluable contribution to the company. “[He] stewarded Vast from an exploration and development company back in 2014, to a production company with two operating ...

Alrosa recovers huge yellow diamond from Yakutia mine

MINEX FORUM | December 18, 2017
img0 98.63 carats diamond. Photo by Alrosa. The world’s largest diamond producer by output, Alrosa (MCX:ALRS), announced today the recovery of a large gem-quality diamond of 98.63 carats from its historic Jubilee (Yubileynaya) pipe, located in the eastern Republic of Yakutia. The octahedron crystal has inclusions of olivine, graphite and sulphide, is transparent yellow-tinted and measures 28.96 х 28.03 х ...

Kazakhstan’s largest iron ore company now has a smart mine

MINEX FORUM | December 15, 2017
img0 A major iron ore project in Kazakhstan is getting a high-tech makeover. The Kacharsky mine, operated by Eurasian Resources-owned JSC Sokolov-Sarbai Mining Production Association or SSGPO, is being transformed into a “smart mine.” With an investment of $10 million, a new modular automated system for production processes was integrated with Kacharsky’s existing Geographic Information System ...

ArcelorMittal says Kazakh coal miners end strike

MINEX FORUM | December 15, 2017
img0 Coal miners at steelmaker ArcelorMittal’s Kazakh unit have ended their sit-in and emerged from the mines, the company said on Friday, after offers of a pay rise and the threat of legal action. ArcelorMittal Temirtau, the Central Asian nation’s biggest steel mill, said it would continue negotiations with the miners. After hundreds of workers started the sit-in on Monday, the ...

Polymetal, Alrosa receive top honours in Russian environmental report

MINEX FORUM | December 14, 2017
img0 LSE-listed Polymetal International was awarded the top rating in environmentalresponsibility among Russian metals and miningcompanies by the World Wildlife Fund (WWF). The WWF, in collaboration with the United Nations Development Programme, Global Environmental Facility, and the Russian Ministry of Natural Resources and Environment published the results of their environmentalresponsibility assessment for Russian metals and miningcompanies. Among the 33 companies included in the rating, Polymetal is tied ...

UK-Kazakh Mining Working Group meeting in London

MINEX Forum | December 13, 2017
img0 UK-Kazakhstan Business Council and Intergovernmental Commission took place in London on 11 December 2017. The Intergovernmental Commission (IGC) was co–chaired by Mark Garnier, DIT Parliamentary Under Secretary of State for Investment and His Excellency Minister of Investment and Development, Zhenis Kassymbek. The Business Council was chaired by the Prime Minister’s Trade Envoy to Kazakhstan, Baroness Nicholson ...

MINEX Forum’s Eurasian Mining Information portal becomes media partner of PDAC 2018 Convention

MINEX Forum | December 13, 2017
img0 PDAC 2018 Convention – the must attend mining event of the year. The world’s premier mineral exploration and mining convention is gearing up for a return to downtown Toronto, featuring another outstanding lineup of speakers, short courses, technical sessions, investment opportunities and networking events. The Prospectors & Developers Association of Canada’s (PDAC) International Convention, Trade ...

US Senate Chairman presses nuclear regulators on uranium exports by US firm owned by Russia

MINEX FORUM | December 12, 2017
img0 Photo: Republican Senator John Barrasso and President Donald Trump. Photo from Barrasso’s Facebook page. The chairman of the Senate Environment and Public Works Committee, John Barrasso, sent a letter today to the Energy Secretary, Rick Perry, and the Nuclear Regulatory Commission Chairwoman, Kristine Svinicki, informing them that he is expanding a 2010 investigation into the Obama ...