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Optimum mine right suspended, penalties may force coal supply at R1/t

By: Martin Creamer     Updated 1 hour 32 minutes ago Financially stricken Optimum Coal has been hit by a double whammy – huge potential penalty claims from State electricity utility Eskom plus a suspension of its mining licence by the Department of Mineral Resources (DMR) for alleged inhumane retrenchment. In the face of these latest setbacks,... 

Optimum mine right suspended, penalties may force coal supply at R1/t
Photo by Duane Daws
Clinton Ephron

‘Depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion

By: Natalie Greve     Updated 1 hour 44 minutes ago Royal Bafokeng Platinum (RBPlat) plans to scale back on construction at its Styldrift 1 expansion project, telling investors on Tuesday that a sustained depression in the platinum group metals (PGMs) market – which is expected to continue over the medium term – was behind the imperative to reduce... 

‘Depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion
Photo by Duane Daws
RBPlat CEO Steve Phiri

Ivanhoe, Zijin extend Kamoa transaction completion date

By: Megan van Wyngaardt     Updated 2 hours 13 minutes ago TSX-listed Ivanhoe Mines and Zijin Mining Group have extended the completion date for Zijin's planned investment in Ivanhoe's Kamoa copper project, in the Democratic Republic of Congo, to 15 business days after the satisfaction or waiver of all conditions precedent to the transaction have been... 

Palabora operations hit by wave of protests

By: Natasha Odendaal     Updated 2 hours 33 minutes ago Limpopo-based Palabora Copper on Tuesday confirmed that operations at its copper mine, in Phalaborwa, had been halted since Friday night, as Ba-Phalaborwa community members embarked on violence and intimidation sparked by what the company claimed was propaganda. Corporate affairs manager Hulisani... 

Jubilee in talks over R255m debt facility

By: Natasha Odendaal     Updated 2 hours 41 minutes ago Following dual-listed Jubilee Platinum’s announcement that it is in advanced talks for a debt facility to fund the bulk of the R346-million needed to bring its two surface platinum processing plants into operation, the mine-to-metals specialist’s JSE share price on Tuesday afternoon contracted... 

Steinmüller Engineering’s new South Africa office to target energy prospects

By: Creamer Media Reporter      Updated 2 hours 58 minutes ago Engineering and technology specialist Steinmüller Engineering has opened a branch office in South Africa, which will focus on providing services to the power and industrial markets in South Africa and sub-Saharan Africa. The company was formed in Germany in 2003 and, in June 2014, was acquired by... 

Steinmüller Engineering’s new South Africa office to target energy prospects

Shale gas laws still scaring foreign investors

By: African News Agency      Updated 3 hours ago Concern about the free stake the South African government will take in shale gas projects continues to be the main obstacle to foreign investment in exploration in that field, mineral resources officials told MPs on Tuesday. “The definition of free carry interest in the bill lent itself to a... 

Shale gas laws still scaring foreign investors

Avocet draws down on loan facility to continue business review

By: Megan van Wyngaardt     Updated 5 hours ago Aim-listed Avocet Mining has drawn down further funds under the third Elliott loan facility of about $2.4-million, agreed with Manchester Securities, an affiliate of the company's largest shareholder Elliott Management Corporation. The funds would be used to meet Avocet’s corporate requirements... 

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