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By: Terence Creamer Updated 19 minutes ago Foreign direct investment (FDI) inflows to Africa fell by 3% to around $55-billion in 2014, amid an 8% fall in global inflows to an estimated $1.26-trillion, from $1.36-trillion in 2013. In its Global Investment Trends Monitor, the United Nations Conference on Trade and Development (Unctad)... →
By: Natasha Odendaal Updated 2 hours 48 minutes ago Despite the lower gold price, global mine production continued to grow last year, increasing 2% to an all-time high of 3 109 t, the latest survey by GFMS showed. However, total physical demand fell 19% in 2014 as all areas, with the exception of official sector purchases, registered declines. →
Updated 2 hours 53 minutes ago Mozambique-focused miner Baobab Resources was nearing the conclusion of the selection process of a Chinese partner to conclude a feasibility study at its Tete iron project, in Mozambique. The company has been in detailed discussions with steel industry specialists Sinosteel Equipment &... →
By: Natalie Greve Updated 4 hours ago The National Union of Mineworkers (NUM) says it is “shocked and saddened” by an announcement this week by diversified mining major Glencore that it was considering the closure of several coal-mining operations in South Africa, including the Optimum coal mine, in Mpumalanga. “The proposed closure... →
By: Megan van Wyngaardt Updated 5 hours ago Law firm Norton Rose Fulbright South Africa director Lizel Oberholzer says the referral back to the National Assembly of the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill, may potentially result in changes, unrelated to the substantive reservations raised by President... →
By: Martin Creamer Updated 6 hours ago Smelter shutdowns cut a big chunk of refined platinum out of Lonmin’s production in the three months to December 31, when the company's overall platinum group metal (PGM) output slumped by 31.1%. The world’s third-largest platinum producer managed, however, to record 9% higher sales to 146 890 oz... →
By: Natalie Greve International Ferro Metals (IFM) lifted ferrochrome production by a modest 3% to 49 800 t for the quarter ended December 31, despite the issuance of a Section 54 notice in November following a health and safety incident that led to two employees being exposed to carbon monoxide gas. IFM said at... →
By: Natalie Greve DiamondCorp’s developing Lace diamond mine, in the Free State, is likely to come into production in the second half of this year, despite a six-week strike by members of the Association of Mineworkers and Construction Union (AMCU) in October and November. Following the implementation of a revised... →