De Beers Canada Wins Two Safety Awards at CIM

The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) recognized De Beers Canada with two national safety awards at its annual convention awards gala on Monday, May 1, 2017. The De Beers Victor mine received its second consecutive national John T. Ryan Award in the select mines category for having the lowest accident frequency rate during 2016. The Gahcho Kué mine received the 2017 Hatch-CIM Mining & Metals Project Development Safety Award, in recognition of its outstanding safety systems, culture, and performance during the project phase.

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Norilsk Considers Legal Action Against Botswana

Norilsk Nickel has served notice that it intends to commence legal proceedings in Botswana against the Government of Botswana in respect of its involvement in its trading of BCL Ltd., with a view to recovering the roughly $271 million (plus damages and other costs) that they believe they are owed in relation to the sale of a 50% interest in the Nkomati mine in South Africa and the $6.4 million they are owed in relation to the sale of the Tati mine in Botswana. The Government of Botswana is the ultimate shareholder of BCL through its corporate vehicle MDCB.

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Nyrstar Sells Campo Morado mine in Mexico

Nyrstar NV said it has entered into a share purchase agreement to sell its Campo Morado mine in Mexico to Telson Resources Inc. and Reynas Minas S.A. de C.V. for $20 million, plus the potential for additional future proceeds through the creation of a new royalty arrangement. Telson, a Canadian based junior resources company, will own 99.9% of the purchased shares while Reynas Minas, a Mexican based mining consulting company, will own the other 0.1%. Nyrstar was paid $800,000 upon signing the agreement. It will receive $2.7 million by the closing and $16.5 million payable in cash on or before the 12-month anniversary of the closing of the transaction. Closing of the transaction is subject to customary closing conditions and is expected to occur by Q3 2017.

Rusal Increases Alumina Production

UC Rusal recently a commissioned a new R1.1 billion ($19 million) digestion train at the Urals Aluminum Smelter (UAZ). The new digestion train, which consists of 82 units, will expand the refinery’s alumina production by 130,000 metric tons per year (mt/y). Total annual output of UAZ will grow to 900,000 mt of alumina.

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