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Zambia may be backing off steeper mine royalty rates – Barrick

By: Reuters     Updated 3 minutes ago There are indications that Zambia may be backing away from plans to impose a 20% royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday. "Our sense is that the government realizes that the numbers they have imposed will be very challenging for the... 

Unemployment at 25.4%, Stats SA to provide long-term unemployment data

By: Leandi Kolver     Updated 40 minutes ago Statistics South Africa (Stats SA) would, in future, focus more strongly on the trends of long-term unemployment in its quarterly labour force surveys (QLFSs), statistician-general Pali Lehola said on Thursday. Releasing the QLFS for the three months ended September 30, Lehohla noted that... 

Unemployment at 25.4%, Stats SA to provide long-term unemployment data

GoldStone shareholders approve Stratex’s 50.1% buyout

By: Natalie Greve     Updated 1 hour 8 minutes ago The shareholders of Aim-listed explorer GoldStone Resources have passed a resolution approving the waiver of obligations on Stratex in connection with Stratex's proposed subscription of £1.25-million worth of shares in GoldStone. As at October 31, Stratex would hold 20.8-million ordinary shares... 

NUM, ARM conclude five-year employee participation fund

By: Natasha Odendaal     Updated 1 hour 9 minutes ago The National Union of Mineworkers (NUM) and Patrice Motsepe’s African Rainbow Minerals (ARM) this week settled drawn-out negotiations over an employee participation fund (EPF). The parties inked a five-year collective EPF that would benefit employees in the A and C bands across all participating... 

NUM, ARM conclude five-year employee participation fund
Photo by Duane Daws
Patrice Motsepe

Sephaku to post H1 earnings loss

By: Natalie Greve     Updated 2 hours 15 minutes ago Sephaku Holdings, which is in the process of finalising its interim results for the six months ended September 30, expects to swing to a basic loss a share of between 1.9c and 2c for the half-year, from basic earnings a share of 3.32c in the first half of the prior year. The headline loss a share... 

Mine Restoration Investments names new FD

By: Natalie Greve     Updated 5 hours ago Mine Restoration Investments (MRI) has appointed FD Anthon Meyer as nonexecutive director and named former Jubilee Platinum group financial manager Carl-Heinz Gernandt as his successor. Gernandt, whose appointment would be effective from December 1, previously held directorship, financial... 

Lemur advances triple-edged strategy, awaits Imaloto IPP licence

By: Natalie Greve     Updated 5 hours ago ASX-listed Lemur Resources continued to advance its three-ponged growth strategy by developing its planned flagship Imaloto coal mine, in Madagascar, exploiting its cash balance to acquire additional assets and leveraging its geoservices equipment and geological capabilities in Africa to earn... 

APLNG still on track for mid-2015 production

By: Esmarie Swanepoel     Updated 5 hours ago The $24.7-billion Australia Pacific liquefied natural gas (APLNG) was on track to produce its first LNG by mid-2015, project developer Origin Energy’s LNG CEO, David Baldwin, said on Thursday. Full production from both trains were expected by the end of 2016. 

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