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AECI H1 earnings rise 45% on bulk property sale

By: Megan van Wyngaardt     Updated 35 minutes ago 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... 

AECI H1 earnings rise 45% on bulk property sale
Photo by Duane Daws
AECI CEO Mark Dytor

CoM, Village Main Reef reach wage agreement

By: Megan van Wyngaardt     Updated 1 hour 50 minutes ago 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... 

Aquarius delivers Q4 production record

By: Natasha Odendaal     Updated 2 hours ago 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... 

Aquarius delivers Q4 production record

China's gold imports to plunge as financing deals unwind – Valcambi

By: Reuters     Updated 2 hours 12 minutes ago 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... 

Zambia power cuts hit Canada's First Quantum, Barrick

By: Reuters     Updated 2 hours 31 minutes ago 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... 

Base reports record sales, lower costs in Q4

By: Esmarie Swanepoel     Updated 2 hours 37 minutes ago Kenya-focused mineral sands miner Base Resources has reported record sales volumes across all of its products for the three months to June, while operating costs declined. During the quarter, some 121 727 t of ilmenite, 25 382 t of rutile and 7 621 t of zircon was sold. The record sales volumes... 

Mining study shows Peru copper project's potential

By: Esmarie Swanepoel     Updated 2 hours 42 minutes ago A mining study on the Los Calatos copper project, in Peru, has estimated that the project could produce up to 45 000 t/y of concentrate over a 17-year mine life. ASX-listed Metminco this week said the six-million-tonne-a-year underground mining operation would require a capital investment of... 

Mt Magnet delivers lower output, higher costs in Q4

By: Esmarie Swanepoel     Updated 2 hours 46 minutes ago Gold miner Ramelius Resources has reported lower production and higher costs at its Mt Magnet operation, in Western Australia, during the three months to June, owing to lower grades and a scheduled reline of the semi-autogenous grinding and ball mills. Gold production for the quarter declined to... 

Mt Magnet delivers lower output, higher costs in Q4

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