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By: Reuters Updated 4 hours ago Mozambique's coal rush is officially over and the government is now looking offshore to a gas bonanza, according to analysts at a coal conference this week in the capital Maputo. Just a few years ago, billions of dollars poured into Mozambique, one of the world's poorest nations, in a twin... →
By: Reuters Updated 7 hours ago South African power utility Eskom is open to importing coal for plants it still plans to commission, a coal conference heard on Tuesday. Willem Theron, business development manager of Eskom's southern Africa transmission group, said the state-run utility planned to install an additional 6 250 MW... →
By: Terence Creamer Amid the prevailing gloom about prospects for the gold price, the latest GFMS Gold Survey forecasts an average price of $1 135/oz for the third quarter of 2015, which it also describes as “the nadir”, before a recovery to an average price of $1 175/oz for the fourth quarter. The second quarter... →
By: Megan van Wyngaardt Explosives and specialty chemicals company AECI’s R400-million bulk property sale, in Somerset West, paired with a maintained market share, despite a difficult environment, pushed its headline earnings for the six months to June 30, up 45% to R632-million, compared with R436-million in the first... →
By: Megan van Wyngaardt The Chamber of Mines (CoM) has concluded a wage agreement with the representative unions at JSE-listed Village Main Reef’s gold mining operations. The two-year agreement allowed for increases of R1 000 and R800 for Category 4 to 8 underground and surface employees respectively, and increases of... →
By: Natasha Odendaal Despite facing significant headwinds and a quarter that ended with weak commodity prices, both of platinum producer Aquarius Platinum’s operating mines achieved record fourth-quarter production levels, as well as lower costs. The JSE-listed group’s overall attributable production from its... →
By: Reuters China's gold imports could fall as much as 40% this year as demand for bullion used to back domestic financing deals decreases, the world's biggest refiner Valcambi said. A lot of the gold China imported in the last three years was used to secure cheaper loans due to a liquidity crunch, but that... →
By: Reuters Power cuts in north-western Zambia, Africa's second-biggest copper producer, have affected production at mines run by Canada's First Quantum Minerals and Barrick Gold, an industry body said on Tuesday. Zambian power utility Zesco Ltd is limiting power it supplies to customers, including mining... →