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Bellzone secures $30bn loan from Chinese partner

By: Megan van Wyngaardt     Updated 2 hours 7 minutes ago Aim-listed miner Bellzone on Wednesday reported that it was finalising its $30-billion secured debt agreement with China Sonangol International to meet its liabilities. The company last year reported that it had been unable to secure long-term financing, with China Sonangol providing short-term... 

Aquarius lifts Q2 production, despite price drop

     Updated 2 hours 40 minutes ago South Africa-focused platinum miner Aquarius increased its output by 2% quarter-on-quarter and 5% year-on-year to 174 953 oz of platinum-group metals (PGMs) in the three months ended December 31. This was despite a sharp drop, by 8%, in PGM prices during the period to $1 208/oz  – the lowest for... 

Treasury unlikely to raise, amend mining taxes in 2015/16 – Deloitte

By: Natalie Greve     Updated 3 hours ago Amid a growing appreciation by government of the challenges and impasses constraining the South African mining sector, consulting group Deloitte believes it unlikely that Finance Minister Nhlanhla Nene will, during his 2015/16 National Budget speech next month, introduce new mining taxes or... 

Treasury unlikely to raise, amend mining taxes in 2015/16 – Deloitte
Photo by Bloomberg
Finance Minister Nhlanhla Nene

Glencore mulls closure of some South African coal operations

By: Martin Creamer     Updated 3 hours ago Diversified mining major Glencore is considering the closure of some of its coal-mining operations in South Africa, which would reduce its overall South African production by at least five-million saleable tons of coal a year and affect more than 1 000 employees. This announcement by the... 

Glencore mulls closure of some South African coal operations
Photo by Duane Daws
Ivan Glasenberg

Zim tungsten project’s preproduction capital estimate revised to $4.1m

By: Ilan Solomons     Updated 3 hours ago An implementation study report on the low-capital openpit start-up strategy for multicommodity natural resource company Premier African Minerals’ RHA Tungsten project, in Zimbabwe, has determined a lower estimated preproduction capital cost of $4.15-million. In October last year, the Aim-listed... 

Kumba Q4 output up 10%

By: Ilan Solomons     Updated 5 hours ago JSE-listed Kumba Iron Ore’s production increased 10% year-on-year to 12.43-million tonnes in the quarter ended December 31. The fourth-quarter production was, however, 4% lower than the 12.97-million tonnes produced in the third quarter of 2014. 

Kumba Q4 output up 10%

Anglo to record noncash impairment charges in price plunge parry

By: Martin Creamer Given the sharply lower commodity price environment, particularly for bulk commodities, Anglo American said on Wednesday that it expected to record noncash impairment charges in its 2014 results. The London- and Johannesburg-listed diversified major, headed by CEO Mark Cutifani, added in a media... 

Anglo to record noncash impairment charges in price plunge parry
Mark Cutifani

Amplats’ Q4 production rises 14% to 594 000 oz

By: Megan van Wyngaardt JSE-listed Anglo American Platinum (Amplats) delivered 594 000 oz of equivalent refined platinum in the quarter ended December 31. This was 14% higher than the 520 000 oz produced in the fourth quarter of the prior year, when 44 000 oz of production was lost owing to a strike by employees. 

Amplats’ Q4 production rises 14% to 594 000 oz

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Au 1281.14 $/ozChange: 2.33
Pt 1259.50 $/ozChange: 11.00