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Chile cuts copper production forecast for 2014

By: Reuters Chile reduced its forecast for production of copper in 2014 to 5.83-million tonnes, down from a previous prediction for 5.95-million tonnes. State copper commission Cochilco said on Friday that the country, the world's top copper producer, would likely produce a record 6.23-million tonnes in 2015. 

Five companies in the running to reset gold fix

By: Reuters Five companies have been short-listed to replace the century-old London gold benchmark with a new electronic system, which is expected to be in place within the next few months, the London Bullion Market Association (LBMA) said. Broker Autilla Ltd (Sapient), the Chicago Mercantile Exchange... 

Cliffs shares slide on prospect of $6bn Q3 asset impairment charge

By: Henry Lazenby US miner Cliffs Natural Resources on Friday reported that it expected to book a $6-billion after-tax non-cash impairment on its seaborne iron-ore and coal assets in the third quarter, sending its NYSE-listed stock sliding as much as 10% during intraday trading. The Cleveland, Ohio-based company... 

Cliffs shares slide on prospect of $6bn Q3 asset impairment charge

Merafe Q3 output falls, strike action hits western mines

By: Natasha Odendaal An ongoing strike at Glencore Merafe Chrome Venture’s western mines, which are, as a result, not operational, will not impact on output or sales obligations, said JSE-listed black-owned and -managed ferrochrome company Merafe Resources. Outlining the company’s quarterly performance to... 

Merafe Q3 output falls, strike action hits western mines

Middelburg smelter achieves Q3 profit increase despite strike

By: Leandi Kolver Despite the National Union of Metalworkers of South Africa (Numsa) strike in July and the post-strike production ramp-up in August, Aim- and AltX-listed Jubilee Platinum’s Middelburg smelter operation, in Mpumalanga, increased its profit by 4.5% quarter-on-quarter for the three months ended... 

Middelburg smelter achieves Q3 profit increase despite strike
Photo by Duane Daws
Jubilee Platinum CEO Leon Coetzer

RSR investigating Rustenburg locomotive, bus collision

By: Leandi Kolver The Railway Safety Regulator (RSR) on Friday said it was investigating a collision between a locomotive and a bus carrying 45 people at a platinum mine, in Rustenburg, on Friday morning. The accident occurred on a mining siding when the bus transporting mineworkers stalled on the railway tracks,... 

RSR investigating Rustenburg locomotive, bus collision

Kenmare mulls Iluka bid

By: Natasha Odendaal London-listed Kenmare Resources has entered into discussions with Australian mineral sands miner Iluka Resources over a potential bid for the Irish miner. Kenmare initially rejected the proposed takeover after receiving a nonbinding conditional proposal from Iluka in June. 

Transnet rail graduates ‘seeds’ for future rail industry growth

By: Schalk Burger The graduation of 85 employees of State-owned logistics company Transnet Freight Rail (TFR) in rail sciences planted the seeds for future rail industry growth and formed an integral part of TFR’s R201-billion rail infrastructure roll-out plans, Transnet CEO Brian Molefe said on Thursday at the... 

Transnet rail graduates ‘seeds’ for future rail industry growth
TRANSNET FREIGHT RAIL The benefits to Transnet from the training are improvements in performance and productivity

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