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Glencore to resume ops at Collinsville coal mine

TOP NEWS

Glencore to resume ops at Collinsville coal mine

Glencore Plc plans to resume full operations and hire over 200 workers at its Collinsville coal joint venture in Queensland, Australia. The move comes amid growing demand from Southeast Asia for the mine's specific product.

Northam to buy portion of Amplats' Amandelbult mining right for 1B rand

Northam Platinum Ltd. is set to acquire a portion of Anglo American Platinum Ltd.'s mining right over the Amandelbult platinum deposit in South Africa through a three-part transaction valued at 1 billion South African rand. According to Northam, the acquisition will extend the economic mine life of its nearby Zondereinde platinum mine to over 30 years.

International Finance Corp. to exit Rio Tinto's Simandou iron ore project

The World Bank's International Finance Corp. is exiting Rio Tinto Plc's Simandou iron ore project in Guinea after a decade of being a partner, Bloomberg News wrote.

DIVERSIFIED

* Vale SA's CEO, Murilo Ferreira, will leave the Brazilian iron ore producer in May 2017 amid a change in Brazil's political scenario, SteelOrbis wrote, citing media reports.

* With the Paris climate accord scheduled to come into force on Nov. 4, mining major BHP Billiton Group still expects its copper, oil and gas, iron ore and coal businesses to have strong future margins, saying that fossil fuels will "continue to be a significant part of the energy mix for decades," Reuters reported.

* Meanwhile, BHP Billiton is participating in the A$42.5 million Lakeland Solar and Storage Project in Queensland, a battery-storage project to test technology that could be adopted at the company's remote mines, Bloomberg News wrote.

* Rio Tinto repurchased and canceled about US$1.5 billion of its 2019, 2020, 2021 and 2022 notes under the cash tender offer announced in late September. The global mining giant's offer to redeem about US$1.5 billion of its 2017 and 2018 U.S.-dollar-denominated notes will remain open until Oct. 26.

BASE METALS

* Yunnan Tin Co. Ltd. expects to swing to a net profit of between 40 million Chinese yuan and 60 million yuan in the third quarter, from a net loss of 87.7 million yuan posted a year ago, driven by a rally in nonferrous metals prices and its acquisition of indium-tin miner Yunnan Hualian Zn-In Shares Co.

* Jilin Jien Nickel Industry Co. Ltd.'s overdue debts amounted to 3.73 billion Chinese yuan as of Oct. 10, more than double the 1.63 billion yuan recorded as of Sept. 22. The company said it failed to raise funds to complete a loan replacement plan during the period, which resulted in the steep increase in overdue debts.

* The BHP Billiton and Glencore Plc majority-owned Antamina mine in Peru is likely to double zinc output to between 340,000 tonnes and 360,000 tonnes in 2017, Reuters reported. Annual copper output is expected to increase to 430,000 tonnes in 2016 and 2017, slightly above the 2015 total of 412,000 tonnes.

* Compañía Minera Milpo SAA and Quinn International Group are among the investors interested in bidding for Doe Run Peru SRL's La Oroya polymetallic smelter and the Cobriza copper mine in Peru, sources told El Comercio. So far, eight potential investors would be participating in the auction planned for the first quarter of 2017, including business conglomerate Eetac Syndicate — composed of Chinese firms Greenovo and China Nonferrous Metals Co. Ltd. as well as ZincOx Resources Plc.

* PT Timah (Persero) Tbk recorded lower monthly exploration activity amounting to 88 billion Indonesian rupiah during the January-to-September period, compared to 109 billion rupiah in the same period in 2015, Bisnis Indonesia reported.

* PJSC MMC Norilsk Nickel vowed to defend its interests in the sale of its 50% stake in the Nkomati nickel joint venture in South Africa to Botswana-based BCL Ltd. This comes after the government of Botswana applied to the high court to place its copper and nickel producer BCL Mine Ltd. under provisional liquidation due to nonprofitability.

PRECIOUS METALS

* Eurasia Mining Plc awarded a US$176.0 million engineering, procurement, construction and commissioning turnkey contract to China's state-owned Sinosteel Corp. for the development of two platinum group metal deposits at its Monchetundra license area in Russia.

* Tahoe Resources Inc. has recommended that its shareholders reject TRC Capital Corp.'s unsolicited tender offer to buy up to 5 million Tahoe common shares for C$14.35 each in cash.

* Impala Platinum Ltd. has produced its 50 millionth ounce of platinum after 47 years of operations, Mining Weekly reported. The output equals 1,555 tonnes of platinum and is worth some 750 billion rand at current market prices.

* BWR Exploration Inc. has executed a definitive acquisition agreement with Puma Exploration Inc. to acquire a 100% interest in the latter's Little Stull Lake gold project in Manitoba. BWR will pay a total of C$150,000 to Puma and issue 10 million BWR common shares.

* Vast Resources PLC has repaid a balance of £325,000, plus £13,000 in interests, under its Darwin bridge loan note that was announced in May.

* Banro Corp. achieved a record gold output of 53,377 ounces in the third quarter, pushing total production in the first nine months of this year to 147,242 ounces. This means the company is on track to meet its full-year production guidance.

* Endeavour Silver Corp.'s third-quarter silver production decreased by 29% year over year, to about 1.3 million ounces, while its gold output fell by 6% to 14,364 ounces. Both silver and gold sales dropped during the period to 1.2 million ounces of silver and 14,228 ounces of gold.

* Bluebird Merchant Ventures Ltd. has received an unsolicited offer by an unnamed company, which is seeking to acquire a controlling stake at a premium to the current share price. Bluebird said its board will engage with the tendering company but added that the talks are at a preliminary stage. Bluebird holds a controlling stake in the Batangas gold-copper project in the Philippines.

* The Association of Mining and Exploration Companies warned the gold mining industry that the issue of possible royalty hikes is still very much alive.

* Compañía de Minas Buenaventura SAA's gold output in the third quarter totaled 277,556 ounces, down from 366,881 ounces in the year-ago corresponding period. Silver production amounted to about 5.75 million ounces, slightly up from 5.63 million ounces reported in the same quarter of 2015.

* Despite Indonesia's revision of its mining laws, Lion Selection Group Ltd. is investing in One Asia Resources Ltd.'s 2.8 million-ounce Awak Mas gold project.

* Construction has started at Hummingbird Resources Plc's Yanfolila gold project in Mali, with first gold pour expected by the end of 2017, targeting an output of 132,000 ounces in the first year.

* The Australian Securities & Investments Commission ordered the sale of 22,901,234 Sovereign Gold Co. Ltd. shares, or 1.62% of the company's issued capital, after finding that major shareholder GTT Ventures Pty. Ltd. contravened the takeovers threshold in relation to Sovereign Gold, and that former substantial shareholder Hudson Resources Ltd. collaborated with GTT.

* Tharisa Plc exceeded its fiscal 2016 output guidance for platinum group metals, producing about 132,600 ounces, a 12.4% year-over-year increase. Chrome production totaled approximately 1.2 million tonnes, up 10.8% despite marginally lower feed grades.

* Metals X Ltd. CEO Peter Cook believes the separation of the ASX-listed miner's gold assets into a new company will likely set it up for a rerating rather than make it a takeover target.

* The Malian government demanded that Randgold Resources Ltd. pay 50% of the US$80 million it says the miner owes the government before starting talks about the repayment schedule for the remaining amount, Reuters reported.

* Kinross Gold Corp. is set to start mining two small but high-grade silver and gold deposits in Russia by 2018. The Toronto-listed company will begin mining Moroshka, located 4 kilometers east of the Kupol site, by late 2017, and at September Northeast, located 15 kilometers northwest of Dvoinoye, by 2018.

* King River Copper Ltd. signed a heads of agreement with Spectrum Rare Earths Ltd., allowing the latter to earn a 51% stake in the Mount Remarkable gold prospect in Western Australia.

BULK COMMODITIES

* Yanzhou Coal Mining Co. Ltd. is seeking to shut down its Beisu coal mine in China's Shandong province to eliminate 1 million tonnes of excess capacity, in accordance with the Chinese government's efforts to curb overcapacity in the coal sector.

* Zamia Metals Ltd. has signed a deal to acquire Kirkham International Pte. Ltd., which owns a 4,798-hectare mining permit for a coal project in Central Kalimantan, Indonesia, for A$24.3 million in shares.

* Following the surge in coking coal prices after supply cuts in China, Jindal Steel & Power Ltd. restarted its mines in Mozambique on Oct. 1, Mint reported.

* While India's domestic steel industry may be protected from a price decline due to increasing local demand, the sharp jump in exports makes Indian steel producers "vulnerable" to global price fluctuations, Mint wrote.

* Prairie Mining Ltd. acquired the Debiensko coking coal project in southern Poland through the purchase of 100% of the shares in New World Resources Plc local subsidiary, NWR Karbonia SA, for an upfront cash consideration of €500,000 and deferred cash consideration of €1.5 million.

* Savannah Resources Plc entered into a new consortium agreement with Rio Tinto covering the Jangamo heavy mineral sands project in Mozambique that will allow operations at the project to start immediately.

* Russian Mining and Metallurgical Co. has bought the property of the bankrupt Revyakino steel plant in Russia's Tula region, Kommersant reported.

* JSW Steel Ltd. is engaged in "exploratory work" on acquiring an interest in troubled Italian steelmaker Ilva International SpA, Metal Bulletin reported, citing JSW's joint Managing Director Seshagiri Rao.

* Following a rally in the spot market, a recent deal points to the fourth-quarter metallurgical coal benchmark likely doubling versus both the prior quarter and the year-ago period to settle above market expectations, reversing a down cycle that lasted more than five years.

* Chinese state-owned Dongbei Special Steel Group Co. Ltd. has been formally placed into a bankruptcy restructuring process following a court filing by one of its creditors, Alashan Jinzhen Smelting Co. Ltd., Reuters reported, citing Xinhua News Agency.

* According to The Australian Financial Review's Street Talk, Arrium Ltd.'s Moly-Cop expected a fiscal 2017 EBITDA of US$146.2 million, in line with the US$145.8 million posted for the year ended June 30.

SPECIALTY

* Sichuan Tianqi Lithium Industries Inc. is interested in the sale of Sociedad de Inversiones Pampa Calichera SA because it would help the Chinese firm expand in the international lithium business, Andrew Low, manager of international corporate finance and capital market at Citic CLSA, a financial adviser to Tianqi, told La Tercera. Tianqi already bought a 2% stake in Sociedad Quimica y Minera de Chile SA and is vying for a 23% controlling stake held by Pampa Calichera on the Chilean fertilizer company.

* TNG Ltd. produced its first high-purity vanadium electrolyte using vanadium pentoxide from its flagship Mount Peake vanadium-titanium-iron project in Australia's Northern Territory.

INDUSTRY NEWS

* Canadian mining leaders are considering renewable energy options to further reduce greenhouse gas emissions and optimize energy costs, Mining Weekly wrote, citing Adrienne Baker, a director of Canada's Energy and Mines.

The Daily Dose is updated as of 7 a.m. ET, and scans news sources published in Chinese, English, Indonesian, Malay, Portuguese, Russian, Spanish, Thai and Ukrainian. Some external links may require a subscription.