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Police investigate off-duty Tropicana deaths

THE death of a Macmahon Holdings worker who had been employed at AngloGold Ashanti's Tropicana mine is believed to be related to another fatality last month.

Police confirm they are investigating both deaths but few details have been released and a spokesperson refused to comment when contacted by MiningNews.net.

It is alleged the first worker died after being involved in an off-shift fight at the mine's village on May 19.

Reports in the West Australian state that another worker involved in last month's altercation is believed to have taken his own life late last week.

AngloGold Ashanti refused to comment on the latest fatality but a spokesperson for the company confirmed that the first worker passed away last month at Tropicana while off duty.

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‘Perfect storm' closes in on mining

AUSTRALIAN geoscientists are warning that the latest national figures showing a slump in exploration are only part of a triple threat confronting the resources sector

The Australian Institute of Geoscientists says there's little immediate turnaround in sight for a "perfect storm" of macro challenges converging on the industry.

Already facing the highest level of member unemployment in five years of surveys, AIG said the dramatic slump in on-ground dollars spent on exploration was part of a three-pronged problem for the industry.

"The mining boom is gone and the downturn is now in full swing, our members are increasingly jobless as a result and now we see confirmed officially that the exploration spend itself has suffered a dramatic decline," AIG president Wayne Spilsbury said.

"If that isn't symptomatic enough, adding fuel to the fire is PwC's just released report this week showing the world's top 40 mining companies - including Australia's major bulk commodity miners - have recorded a profit slump of 72% in just a year."

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Kingsgate boss Gavin Thomas dies

LONG-serving Kingsgate Consolidated chief executive and managing director Gavin Thomas died last night in Sydney after 18 months of battling serious illness

Thomas stepped down from his duties at the company last month after nearly 10 years as MD.

He was 63 years old.

Thomas lived and worked in Papua New Guinea for 27 years and was credited with co-discovering the famous Lihir Island gold deposit in that country.

He later formed Niugini Mining with his former university tutor and current Roy Hill director Ian Plimer to explore for epithermal gold across the Mediterranean volcanic belt, leading to discoveries in Greece, Turkey and Spain.

The veteran explorer took Kingsgate from a single-mine operation at Chatree in central Thailand to a company with assets on three continents.

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Getting real about lousy leadership

IT'S not uncommon to know an ineffective leader in the mining business, or a highly qualified mining leader in the unemployment line.

Deficiencies in mining leadership skills are a global issue built on a lack of strategic vision in the face of various sector trends.

In Canada, Deloitte has flagged an erosion of mining industry experience in mining executive suites.

Cost-cutting efforts in that country have led to greater movement on boards, a talent gap and a resulting lack of sector-specific operational skill sets at the head of mining companies.

The Canucks have responded with mining-focused education programs tailored for executives at a number of universities and business schools.

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Relationship drives Papillon, B2Gold merger

MUTUAL admiration was the driving force behind the $A615 million friendly merger between B2Gold and Papillon Resources, announced in Toronto overnight.

The scrip deal will see Papillon shareholders receive 0.661 B2Gold shares for each share held, valuing Papillon shares at around $1.72 per share, or $615 million.

The offer ratio represents a 42.4% premium to the 20-day volume weighted average price of Papillon and B2Gold shares as of Monday - and a 20.6% premium to the last closing prices.

Papillon shareholders will hold around 26% of the enlarged company, which will have three operating mines and two projects in development.

B2Gold CEO Clive Johnson said he had known Papillon managing director Mark Connelly for many years and the two had come close to doing a deal some years ago, presumably when Connelly fronted Adamus Resources, which was subsequently taken over by Endeavour Mining.

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