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NUM ‘shocked’ by Glencore closure plans

By: Natalie Greve     Updated 1 hour 22 minutes 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... 

Parliament free to decline changes to MPRDA Bill

By: Megan van Wyngaardt     Updated 1 hour 59 minutes 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... 

Parliament free to decline changes to MPRDA Bill

Lonmin’s refined platinum output plummets on smelter shutdowns

By: Martin Creamer     Updated 3 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... 

Lonmin’s refined platinum output plummets on smelter shutdowns
Photo by Duane Daws
Ben Magara

IFM posts marginal production lift in Q2 despite stoppage

By: Natalie Greve     Updated 4 hours ago 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... 

First output from Lace mine due in H2 despite AMCU strike

By: Natalie Greve     Updated 5 hours ago 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... 

Lower oil price sees Beach defer projects

By: Esmarie Swanepoel     Updated 5 hours ago ASX-listed Beach Energy on Thursday announced that it would reduce its capital expenditure (capex) during the second half of the 2015 financial year by around 20%, or by about A$55-million. The company told shareholders that it had undertaken a detailed review of its capex programme as a result... 

Low-cost, low-risk development option for Central Murchison – Metals X

By: Esmarie Swanepoel     Updated 5 hours ago A revised feasibility study of ASX-listed Metals X’s Central Murchison gold project, in Western Australia, has delivered encouraging results, with the project now expected to require a less-intensive capital investment and have a longer mine life. The revised feasibility study was undertaken... 

Mining M&A hits 10-year low, deal activity likely to remain subdued

By: Esmarie Swanepoel     Updated 5 hours ago Transaction volumes in the mining and metals sector reached a 10-year low in 2014, with transactions driven by divestments and forced sales in the face of falling commodity prices and risk-averse capital markets. It was fourth consecutive year of declining merger and acquisition (M&A) activity... 

Mining M&A hits 10-year low, deal activity likely to remain subdued

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