 | |  | EMEA | Wednesday, September 24, 2014
| | | | | | It has been easy for some time to characterise Ivan Glasenberg, the chief executive of Glencore plc, as the mining world's biggest bear, but recent events point to a change with the bear possibly turning into a bull. | | | |  | | | | "Everything that can be counted, does not necessarily count. Everything that counts cannot necessarily be counted." – Albert Einstein | | | | | | | | The Tanzania Revenues Authority (TRA) has retracted a call for help in renegotiating existing mining development agreements (MDAs) and petroleum production sharing agreements (PSAs). It is a win for resource investors in the near term but the move does not necessarily bode well for long term investment in the coastal African nation. | | | | | | | | Randgold Resources chief Mark Bristow's belief in the long-term value of high-level underground mining skills transfer from Australia to emerging African countries is echoed by the executive chairman of Byrnecut Mining Group, Steve Coughlan, who is seeing in Tanzania at the moment some of the benefits of taking up the "generational" training challenge facing miners across the continent. | | | | | | | | Amid light-hearted jokes that you would be hard-pressed to find some decent cheese in Moscow these days, a seminar in London has shone a light on the murky world of Western sanctions against Russia. And when it comes to sanctions compliance it is clear that unlike cheese, holes – whether loopholes or otherwise – are far from desirable. | | | | | | | | Alan Watling, recently installed chief executive of burgeoning iron ore producer, African Minerals Ltd, will ask offtake partners to pay more for their ore as part of a cunning plan to make the flagship Tonkolili project "cash flow positive on a sustainable basis" by year end. | | | | | | | Alacer Gold Corp remains convinced its set-to-be-developed Copler sulphide project in Turkey is a budding world class gold asset, though investment bank Macquarie is evidently not so effusive. | | | | | | | Sierra Rutile Ltd delivered a decent set of first half results in difficult circumstances, which may begin to stem the bloodletting for the mineral sands miner toward the back of what has already been a tough year. | | | | | | Gold producers in Zimbabwe were given a boost in the country's mid-term budget as the country's finance minister Patrick Chinamasa slashed royalty rates to 5%, compared with 7%, effective October 1. | | | | | | New York-listed Golden Star Resources Ltd's Wassa underground gold project in Ghana has the potential to provide a post-tax net present value (at a 5% discount) of US$350 million at a gold price of US$1,300/oz, according to a recent preliminary economic assessment. | | | | | | Paladin Energy Ltd said September-quarter production at its Langer Heinrich uranium mine in Namibia would be lower than the 15% shortfall initially forecast, due to maintenance complications. | | | | | | Petra Diamonds Ltd has sold the 122.52ct blue diamond (pictured, below) it recovered from its Cullinan mine in South Africa for a value equivalent to US$27.6 million (US$225,269/ct). | | | | | | Camborne School of Mines graduate Kiran Caldas Morzaria has joined Bacanora Minerals Ltd's board as a non-executive director. | | | | | | | | |  |  | Not a subscriber? Start a FREE trial to view these articles and more premium content. | | | | | |  | | | Latest Supplement | | | | Greenland is focusing on implementing a new mining strategy as part of a five-year government plan | | Following the amendment of the Mineral Resources Act, the responsibilities of the former Bureau of Minerals and Petroleum as per January 1, 2013 have been divided among the Ministry of Industry and Mineral Resources, the Mineral Licence and Safety Authority and the Environment Agency for Mineral Resources Activities. | | The mineral and hydrocarbon strategies from 2014-18 offer new specific proposals as to the direction in which Greenland should go over the next five years. | | | | |  | | Company profile | | | Russian precious metals company Polymetal International plc's commitment to establishing an extensive pipeline of growth projects has continued with the acquisition of the Kyzyl gold project.
| | | | | |  | | Events update | | September 22-26, 2014, Melbourne Convention & Exhibition Centre, Australia | | | | | December 1-5, 2014, Business Design Centre, London, UK | | | | | | | | |
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