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Giyani Gold on the prowl for M&As

By: Henry Lazenby     Updated 36 minutes ago Exploration junior Giyani Gold on Tuesday said it continued to work towards recovering funds owed to it by South African State-owned Corridor Mining Resources (CMR), its joint-venture partner on the Giyani gold project located in the Limpopo province. TSX-V- and JSE-listed in the Giyani believed... 

Bellzone secures $30bn loan from Chinese partner

By: Megan van Wyngaardt     Updated 6 hours 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 7 hours 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 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 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 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 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

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