Friday, June 26, 2009.
From Creamer Media in Johannesburg, I’m Mariaan Webb.
Making headlines today:
Chamber of Mines techno economics assistant adviser Dick Kruger says the interim increase in electricity tariffs will add an additional 2-billion-rand in costs to the South African mining industry.
However, Kruger says that the chamber accepted that there appeared to be justification for the requested interim price increase.
The Chamber of Mines has also called on government to delay the implementation of the 2c/kWh environmental levy, which will be implemented on July 1, until the economic conditions are more conducive.
On Friday, gold major Harmony was selected as the preferred bidder for acquiring the Free State mining assets of the provisionally liquidated Pamodzi Gold.
Lead liquidator Enver Motala of SBT Trust says the selection remained subject to the formal approval from the major secured creditor, the State-owned Industrial Development Corporation, and the major trade unions and the relevant fulfilment of all conditions.
Also making headlines:
Metorex sells its gold holding for 386-million-rand to fund Ruashi and reduce debt.
Teck sees lower copper output after the Highland Valley pit wall movement.
Transnet says that South African coal exports are unlikely to breach 65-million tons this year.
And, a storm erupts over a production halt at Sierra Grande mine.
That’s a round up of news making headlines today. For more on these and other stories please visit miningweekly.com.
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Friday, June 26, 2009.
By: Natasha Odendaal
Junior mining companies in South Africa have fallen out of favour with investors and have been left to find their own way to profitability, a panel at the 2014 Joburg Indaba revealed on Thursday. Debating the challenges of growing a junior mining project, Submex Investments MD Hugh Callaghan noted that the lack of investor appetite was not purely cyclical – juniors were not providing the returns investors coveted. →
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