Teck Resources Limited announced that first oil has been achieved at the Fort Hills Project.

Suncor, as operator of the Fort Hills Energy Limited Partnership, has confirmed that the Fort Hills project is ramping up production following the safe startup of secondary extraction on January 27, 2018. As expected, the first of three trains from secondary extraction is now online and production on this train will continue to ramp up through the first quarter.

“We are pleased to reach this important milestone. The production of first oil at Fort Hills is the culmination of the hard work of thousands of people since the project was sanctioned by the Fort Hills partners in 2013,” said Don Lindsay, President and CEO. “We look forward to the ramp up to full production and to the continued growth of our energy business. Fort Hills is a long-life asset that will generate significant value for our company for decades to come. Its life cycle carbon intensity is projected to be lower than approximately half of the oil refined in North America.”

The project has already completed five test runs of the front end of the plant, producing 1.4 million barrels of froth. The froth was trucked to Suncor’s base plant for further processing.

The second and third trains of secondary extraction are being insulated and are expected to start up in the first half of 2018, as planned. Fort Hills remains on track to reach 90% of nameplate capacity of 194,000 bbls/d by the end of 2018. Suncor has guided toward cash operating costs per barrel for Fort Hills of $20-$30/bbl by the 4th quarter of 2018.

About Teck

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com

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Newmont Mining Corporation has been recognized as one of the world’s most admired companies in an in-depth global survey conducted by FORTUNE magazine.

Newmont was ranked as the top mining company globally, posting strong scores in the areas of quality of management, social responsibility, long-term investment, people management and innovation. FORTUNE bases its ranking on the opinions of 3,900 executives, directors, and securities analysts.

“This is a great honor, and one that speaks to the caliber of our team, and to our position as a good investment, a good place to work, and a good partner for our host governments and communities,” said Gary Goldberg, President and Chief Executive Officer. “Our commitment to long-term value creation drives a singular focus on doing things right – from managing our resources wisely and responsibly, to continuing to invest in next generation talent and technology.”

In addition to being named one of FORTUNE’s most admired companies, Newmont was once again confirmed as a constituent of the FTSE4Good Index Series, with an Environmental, Social and Governance (ESG) rating of 95 out of 100. In December, Newmont was one of only two resource companies named in a ranking by the Drucker Institute of the top 250 best managed companies based on high scores in the areas of employee engagement and development, and social responsibility.

Also in 2017, for an unprecedented third consecutive year, Newmont was ranked by the Dow Jones Sustainability World Index (DJSI World) as the mining industry’s overall leader in sustainability. Newmont’s inclusion on the index marked the 11th consecutive year the company had been selected for the DJSI World.

About Newmont

Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015, 2016 and 2017. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.

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The signing ceremony of Cross-strait Gold and Jewelry Industrial Park project was held in Xiamen recently. As one of the leading companies of this project, Zijin Mining, together with Jinzhou Cihang Group, and Xiamen Haicang Investment Group, will carry forward the project’s development.

Mr. Lin Wensheng, Member of Standing Committee of Municipal Committee of Xiamen, pointed out that the signing of Gold and Jewelry Industrial Park represented a new chapter for gold and jewelry industry in Xiamen.

‘Zijin, as the largest gold miner and a leading non-ferrous metals company in China, has maintained top position in gold production in china for many consecutive years’, he said, ‘Zijin’s corporate culture, taking innovation as core competitiveness, happens to coincide with Xiamen city’s positioning. I sincerely expect this industrial park could work well with the Belt and Road initiative, and promote the development of China’s gold industry.’

The production capacity of refined gold in Gold and Jewelry Industrial Park is 100 tonnes annually, and the production value will be equal to 27 billion yuan. This project will generate huge effect of aggregation in commerce and trade.

Barrick Gold Corporation announced that it has entered into a subscription agreement to acquire 9,875,876 ordinary shares of Royal Road Minerals Limited in a non-brokered private placement at a price of $0.16 per share for total consideration of $1,580,140. The transaction is expected to close on or about February 9, 2018.

As a result of the transaction, Barrick will own 20,980,276 ordinary shares, representing approximately 12.5% of Royal Road’s issued and outstanding ordinary shares, on a non-diluted basis (after giving effect to the subscription by Barrick and a concurrent offering to other investors expected to be completed by Royal Road).

Barrick has acquired the ordinary shares for investment purposes. Depending on market conditions and other factors, including Royal Road’s business and financial condition, Barrick may, subject to the investor rights agreement entered into in connection with the transaction, acquire additional ordinary shares or other securities of Royal Road or dispose of some or all of the ordinary shares or other securities of Royal Road that it owns at such time.

An early warning report will be filed by Barrick in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact Andy Lloyd, whose contact details are included below.

Barrick is a senior gold mining company organized under the laws of the Province of Ontario. Barrick’s head office is located at Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay Street, P.O. Box 212, Toronto, Ontario M5J 2S1. Royal Road’s head office is located at Ground Floor, 4 Wharf Street, St. Helier, Jersey JE2 3NR.


Daniel Oh
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Investor Engagement and Governance
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Andy Lloyd
Senior Vice President
Telephone: +1 416 307-7414
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Anglo American plc announces the sale, by its 73%-held subsidiary Anglo American Inyosi Coal (Proprietary) Limited, of the New Largo thermal coal project and Old New Largo closed colliery in South Africa (together, "New Largo") to New Largo Coal Proprietary Limited (the "Purchaser"), which is owned by Seriti Resources Proprietary Limited ("Seriti") and Coalzar Proprietary Limited ("Coalzar"), two companies majority owned and controlled by historically disadvantaged South Africans ("HDSAs"), and the Industrial Development Corporation SOC Limited (the "IDC") (the "Transaction").

The consideration payable for New Largo is ZAR850 million (approximately US$71 million). The consideration will be payable in cash by the Purchaser upon closing of the Transaction.

New Largo is located in South Africa and its principal asset is the approximately 585Mt Coal Resource, with the related Mining Right, that is well-positioned to supply Eskom's new Kusile Power Station. For further information on the Coal Resource please refer to the Anglo American Ore Reserves and Mineral Resources Report 2016.


Norman Mbazima, Deputy Chairman of Anglo American South Africa, said: "I am delighted to announce the sale of New Largo to a new majority black-owned-and-managed company. Together, Seriti, Coalzar and the IDC have excellent operating and management capabilities to develop and operate New Largo optimally and sustainably into the future. The sale delivers on our long-standing strategy to exit our Eskom-tied coal assets and marks another Anglo American led step-change in the sustainable transformation of the South African mining industry, supporting both Eskom and the country's transformation objectives."

The Transaction is subject to conditions precedent customary for a transaction of this nature, including regulatory approvals in South Africa. The Transaction is expected to close in the second half of 2018.

The Transaction is a small related party transaction under UK Listing Authority ("UKLA") Listing Rule 11, Annex 1, as the IDC, a substantial shareholder in the Company's subsidiary Kumba Iron Ore Limited, is a shareholder in the Purchaser. The Transaction is subject to the requirements of UKLA Listing Rule 11.1.10R, due to aggregation with the related party transaction(1) that a subsidiary of the Company entered into on 14 February 2017 involving the Public Investment Corporation, an associate of the IDC, both of which are ultimately controlled by the Government of South Africa.

James Wyatt-Tilby         
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South Africa         
Pranill Ramchander         
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New Largo Coal Proprietary Limited
New Largo Coal Proprietary Limited is a newly-formed entity owned by Seriti, Coalzar and the IDC to acquire and develop New Largo. The company intends to provide meaningful equity participation for management, employees and communities in its structure.

Seriti is a broad-based, majority HDSA owned and controlled South African mining company, established with the aim of preserving and operating strategic energy assets for the benefit of South Africa and its people. Seriti is owned jointly by four strategic “anchor” shareholders, namely Masimong Group Holdings Proprietary Limited, Thebe Investment Corporation, Zungu Investments Company Proprietary Limited and Community Investment Holdings Projects. Seriti’s management team will be led by Mike Teke who has extensive mining experience through the acquisition, operation and development of Optimum Coal Mines and Koornfontein Mines which produced approximately 10Mtpa of saleable domestic and export thermal coal and the development of other large scale thermal coal projects. Seriti entered into a binding agreement for the acquisition of the Eskom-tied domestic thermal coal operations in South Africa from Anglo American in April 2017.

Coalzar is a broad-based, majority HDSA-owned South African company representing the interests of its shareholders who are focused on coal mining in the country. Coalzar is owned jointly by four shareholders, namely Attwood LM Investments Proprietary Limited, Elwood OM Investments Proprietary Limited, Voranex Proprietary Limited and Karongi Resources Proprietary Limited. Coalzar’s management team includes Pius Mokgokong and Lefa Mbethe, who have extensive coal mining experience having been involved in various coal operations in South Africa over the past 15 years including, through Liketh Investments Proprietary Limited, being involved in the operating of pit 5 at the Kleinkopje coal operations and having delivered over 20Mt of coal since 2003 to the Tutuka, Kriel, Matla and Khutala power stations.


IDC is a developmental funding institution, wholly-owned by the South African Government, established in 1940 by an Act of Parliament (IDC Act, No 22 of 1940) to promote economic growth and industrial development in South Africa and other parts of Africa. The IDC has significant South African mining exposure in the form of listed and unlisted investments.

Anglo American

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world.

As a responsible miner – of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.

Power is closely tied to a surge of new infrastructure projects and rapid industrialisation across Africa, th significant opportunities still open to the power sector, delegates heard at a briefing for key power sector stakeholders in Sandton this week.

Infrastructure spend across Africa will grow at 10% per annum from 2015 and 2025, exceeding $180 billion by 2025. Much of this is expected in Nigeria and South Africa with Nigerian infrastructure spend topping $77 billion by 2025, while in South Africa infrastructure spend may reach $60 billion by 2025.

Strong development is also forecast in Ethiopia, Ghana, Kenya, Mozambique and Tanzania.This is according to Duncan Bonnett, Director Strategy & Business Development at Africa House, research partner to POWER‐GEN & DistribuTECH Africa, who was addressing power sector stakeholders in Sandton in the lead‐up to POWER‐GEN & DistribuTECH Africa 2018.

Outlining the importance of energy for Africa’s development, as well as some of the opportunities for the power sector, Bonnett said: “This infrastructure development is unlocking growth in basic manufacturing in sectors such as chemicals, metals and fuels, which in turn drives growth in spend on utilities. Transport accounts for just over $200 billion in projects across Africa – largely in rail, ports and road, followed by power with around $150 billion of projects in the system – not including Grand Inga, which is unlikely to be realised in the foreseeable future. 17% of the power projects are by South Africa, followed by 12% in Nigeria. It’s a very exciting space to be in at the moment.”

Power development across Africa goes beyond the ‘mega power projects’, he said. “It also extends to
consumer solutions and modular solutions.”

Bonnett noted that with adequate power, economies and industries saw immediate benefits, while a lack of power exacerbated problems. “For example, 50% of Tanzania’s crops rot because there are no cold storage facilities, which is due to inadequate power. Power is such an underlying aspect of development that spans just about every sector and every opportunity. In parts of Zambia, the roads are in a poor condition not because of trucks carrying copper and cobalt doing the damage; but because of the trucks carrying diesel to the mines.

The introduction of proper power to those mines would
actually go a long way to solving the roads problems in Zambia.” In DRC, he noted, as little of 400MW of power would enable mines to double their output.

Bonnett noted rapid change and development was taking place across the continent, with a rapid urbanisation, growth in basic manufacturing and ICT driving new wealth creation. “Nigeria saved $2 billion in foreign exchange last year because of the increase in their cement output. Just about every country in Africa is starting to see that dividend because of extra power in their industrial spaces, and we are starting to see this downstream in agri‐industrial and basic materials manufacturing growth.”

Particularly strong development was taking place throughout Africa’s ‘energy belt’, he said. “Across the region we are seeing strong infrastructure‐led growth.”

However, Bonnett noted that there were factors that had to be taken into consideration by stakeholders
seeking to benefit from the wave of growth and development: “We find a lot of South African companies have misconceptions about the region and what’s driving it.”

Bonnet warned that investors had to be cognizant of the growing importance of local content and preferential procurement across Africa. “You’ll have to have local content, a local office and skills transfer,” he said. “You’ve got to be in situ if you want to be part of the game.”

Platform for African power progress Africa’s leading power sector platform, POWER‐GEN & DistribuTECH Africa 2018, will serve to underpin progress in African power sector development, delegates at the briefing heard.

The event, Africa’s premier power sector stakeholder conference and expo, drew around 3,000 delegates, 25 exhibitors and 60 sub‐Saharan VIPs in 2017.

Feraye Gurel, Event Director Africa, Turkey and UAE at PennWell, noted that the event was scaling up to offer small and mid‐sized local stakeholders specialised marketing packages, to further support them in participating in the event.

David Graham, managing director of International Trade Projects and organisers of POWER‐GEN & DistribuTECH Africa’s VIP sub‐Saharan African programme noted that the mission would take place again in 2018, offering exhibitors and delegates a rare opportunity to schedule talks with leading African power decision‐makers.

Highlighting the success to date of the event’s Gen‐X theatre, where up and coming young engineers present their papers, POWER‐GEN & DistribuTECH Africa Advisory Board member Bertha Dlamini announced that the programme is to be enhanced next year, with opportunities for large enterprises to support more young engineers’ via conference participation and future career prospects.

About POWER‐GEN and DistribuTECH Africa
POWER‐GEN and DistribuTECH Africa attract a broad range of delegates, including regional electricity distribution companies, power producers, utilities, oil and gas companies, energy and engineering consultants, government and regulators, environmental agencies, development agencies and investors. Exposure at these conferences allows experts and thought leaders to showcase research papers, best practice methodologies, industry innovations and success stories to the most comprehensive cross‐section of African power players under one roof.

POWER‐GEN Africa and DistribuTECH Africa 2018 will be staged at the Sandton Convention Centre from
17 – 19 July 2018.

For more information, please visit www.powergenafrica.com or http://www.distributechafrica.com/

These 51 holes represent the conclusion of the Company's most recent infill drill program. The infill drilling program was designed to increase confidence in, and define the depth of, the oxide and transition zones of the Batero-Quinchia deposit and provide additional confidence in the La Cumbre, Mandeval and La Lengüita targets.

The European Commission is seeking views from citizens, businesses, public administrations and other interested parties on how to fully benefit from 'cloud computing'. Cloud computing enables companies, public administrations and individuals, using networks such as the internet, to access their data and software on computers located somewhere else.

HPQ Silicon Resources Inc. is pleased to inform shareholders that it is proceeding with a non-brokered equity financing to support the advancement of its ongoing PUREVAP™ Quartz Reduction project. The current round of funds are targeted at advancing Gen2 testing and commencement of the Pilot Plant Equipment build out.

Copper One Inc. has acquired an option to purchase a 100% interest in the Las Morras gold project (the "Project") from Emerita Resources Corp. ("Emerita") pursuant to a binding letter agreement dated November 10, 2017 (the "Agreement") between Copper One and Emerita. The Project is located in the Extremadura region of Spain.

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