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Miners owe it to host countries to invest in downturns – Randgold

By: Martin Creamer Mining companies owed it to their host countries and their shareholders to invest in the troughs so that they could reap the benefits in the peaks, Randgold Resources CEO Dr Mark Bristow said on Tuesday. Speaking during a panel discussion at the 2016 Investing in African Mining Indaba, Bristow... 

Miners owe it to host countries to invest in downturns – Randgold
Photo by Duane Daws
Randgold CEO Mark Bristow

Fuel cell technology fast-tracked with launch of feasibility study in S Africa

By: Kim Cloete An extensive feasibility study of fuel cells has been launched in South Africa in a bid to make the most of South Africa’s vast platinum resources. If successful, Isondo Precious Metals (IPM) believes the manufacturing of fuel cell components could be up and running within two years. The... 

Fuel cell technology fast-tracked with launch of feasibility study in S Africa
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

S African company signs licence agreement to locally manufacture fuel cell components

By: Kim Cloete Isondo Precious Metals (IPM) has acquired the rights to manufacture, use, market and sell licensed fuel cell components worldwide, using a portfolio of membrane-electrode assembly and membrane design, formulation and manufacturing technology. The South African company announced that it had... 

S African company signs licence agreement to locally manufacture fuel cell components
IPM CEO Vinay Somera

Unlock South Africa/Botswana coal in tandem, Exxaro urges at Indaba

By: Martin Creamer All stakeholders should recommit to the development of the Waterberg coalfields in tandem with neighbouring Botswana in order to unlock the entire region’s coal potential and improve transport economics, Exxaro Resources CEO designate Mxolisi Mgojo urged on Tuesday. Speaking at the 2016... 

Unlock South Africa/Botswana coal in tandem, Exxaro urges at Indaba
Photo by Duane Daws
Exxaro Resources CEO designate Mxolisi Mgojo

Vedanta rephases capex at Gamsberg as part of cost-cutting measures

By: Kim Cloete In light of tumbling commodity prices, global diversified metals and mining company Vedanta Resources has had to restructure costs across all of its businesses, including South Africa-based Gamsberg zinc project .  Vedanta Resources CEO Tom Albanese told delegates at the Investing in African... 

Vedanta rephases capex at Gamsberg as part of cost-cutting measures
Vedanta Resources CEO Tom Albanese

Kumba FY earnings down on lower iron-ore price

By: Anine Kilian JSE-listed Kumba Iron Ore’s headline earnings a share fell 66% year-on-year to R11.80 for the year ended December 31, compared with R34.30 a year earlier. The 42% drop in the average iron-ore price to $56/t contributed to the lower earnings. Basic earnings a share were R1.46 owing to a... 

Kumba FY earnings down on lower iron-ore price
Photo by Duane Daws
Kumba CEO Norman Mbazima

Second-largest diamond ever recorded named 'our light'

By: Kim Cloete     Updated 7 hours ago The second-largest diamond ever recovered has been named ‘Lesedi La Rona’ which means ‘Our Light’. The 1 100 ct diamond – about the size of a tennis ball - was discovered at the Karowe mine in Botswana last November. Over 10 000 people entered a competition to name the gem, either by e-mail or... 

Need for mining’s reinvention as critical economic pillar – Biti

By: Martin Creamer Mining needs to be reinvented as a mutually transformative win-win for countries and companies to put an end to the resource curse, which has destroyed the collective creativity of resource-rich economies, causing them to fall behind their resource-poor counterparts, former Zimbabwe Finance... 

Need for mining’s reinvention as critical economic pillar – Biti
Photo by Duane Daws
Former Zimbabwe Finance Minister Tendai Biti

Copper loses its shine, for now

By: Kim Cloete Plunging copper prices have pushed the copper industry into a quandary, with global demand deteriorating to an even worse extent than many people realise, Bernstein senior research analyst Paul Gait told delegates at the 2016 Investing in African Mining Indaba this week. Gait noted, however, that... 

Lonmin CEO says will not shy away from merger or takeover

By: Reuters Lonmin will not "shy away" from a merger or takeover but for now the company was focused on its plan to survive tough market conditions, its chief executive said on Tuesday. "We are continuously looking at options to maximise value for our shareholders and all other stakeholders. Should it be of... 

Lonmin CEO says will not shy away from merger or takeover
Photo by Duane Daws
Lonmin CEO Ben Magara

Aquarius reports half-year net loss

By: Anine Kilian JSE-listed Aquarius Platinum has recorded a consolidated accounting net loss, after tax, of $76-million, or 5.12 cents a share, attributable to its shareholders for the half-year ended December 31, 2015. The result included one-off non-cash charges of $55-million, after tax, relating to the... 

Southern Africa mining groups warns of steep job losses

By: Reuters Falling commodity prices have led to 70 000 job losses in Southern Africa's mining sector, with more on the horizon, the Mining Industry Association of Southern Africa (Miasa) said on Tuesday. "Miasa notes with concern, the large scale retrenchments in the region as a consequence of depressed... 

M&R, EGMF to set up DRC company at Mining Indaba

By: Martin Creamer Underground mining services company Murray & Roberts (M&R) Cementation, together with Enterprise Generale Malta Forrest SA (EGMF), will be setting up a joint company in the Democratic Republic of Congo (DRC) to serve the mining industry in central Africa. Johannesburg-based M&R Cementation, with... 

M&R, EGMF to set up DRC company at Mining Indaba
Photo by Duane Daws
M&R Cementation business development executive Allan Widlake

Botswana's diamond exports down 38% y/y in 2015, seen recovering

By: Reuters Exports of diamonds mined in Botswana fell 38% to $2.4-billion last year from $3.9-billion in 2014, the southern African country's lowest shipment of gems in six years. Data published by the Bank of Botswana on Monday showed that the value of exports from the major diamond mines in Botswana have... 

In Congo's stormy heart, Randgold uses radar to prevent mine blackouts

By: Reuters Mining in Democratic Republic of Congo has many challenges and as Randgold Resources developed its Kibali gold mine in the north-east of the central African nation, it came across an unexpected one: the weather. "The electrical storms there are hectic," CE Mark Bristow told Reuters after the... 

Mining companies tread carefully when considering exploration

By: Kim Cloete Mining companies are becoming more circumspect when they decide which countries to invest in when it comes to exploration, a panel at the 2016 Investing in African Mining Indaba in Cape Town has heard. They are also faced with increasing attention from nongovernmental organisations (NGOs) and... 

Sarama reports higher mineral resource at Burkina Faso project

By: Megan van Wyngaardt An independent mineral resource estimate has led to a 40% improvement in the inferred mineral resource at Sarama Resources South Houndé project, in Burkina Faso, to 2.1-million ounces The oxide component of the inferred mineral resource increased 87% to 500 000 oz. 

Creamer Media publishes Construction 2016: A review of South Africa's construction industry research report

Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic empowerment; competition; the... 

Creamer Media publishes Construction 2016: A review of South Africa's construction industry research report

Iamgold reports maiden resource at second West Africa greenfield discovery in 3 yrs

By: Henry Lazenby     Updated 3 minutes ago Canadian gold miner Iamgold has reported a National Instrument 43-101-compliant maiden resource for the Diakha deposit, located on the Siribaya joint-venture (JV) project, in western Mali, West Africa. The Siribaya exploration project is operated by Iamgold under a 50/50 JV with Merrex Gold. 

Anglo American sees no output impact from Los Bronces mine leak

By: Reuters     Updated 22 minutes ago Anglo American said on Tuesday that a milling plant at its Los Bronces copper mine, in Chile, remained closed after a leak was detected over the weekend, but that it did not foresee any impact on production from the stoppage. The leak was found on farmland close to the capital Santiago during a... 

Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

By: Henry Lazenby     Updated 2 hours 12 minutes ago Agricultural products producer Agrium Inc has reported headline earnings for the three months ended December 31 that beat market expectations convincingly. However, its earnings forecast for full-year 2016 came in below expectations and weighed on its share price performance on Tuesday. The... 

Agrium reports better-than-expected Q4 profit, but foresees weaker 2016

PTM produces first concentrate at renamed Maseve mine

By: Henry Lazenby     Updated 3 hours ago Vancouver-based Platinum Group Metals (PTM) has produced the first concentrate at its Maseve platinum mine (formerly known as the Western Bushveld Joint Venture Project 1), near Rustenburg, South Africa, after completing a 72-hour test during hot commissioning of its concentrator facility. The... 

PTM produces first concentrate at renamed Maseve mine
Photo by Platinum Group Metals
Maseve project, South Africa.

Taseko expects to benefit from BC’s power cost deferral programme

By: Henry Lazenby     Updated 4 hours ago Base metals producer Taseko Mines expects to benefit from recently announced planned support for struggling mining companies in British Columbia. Premier Christy Clark recently revealed that government was working on a plan to enable struggling mining companies to defer some of their “very... 

Richmont announces exploration success

By: Henry Lazenby     Updated 4 hours ago Gold producer Richmont Mines has increased the compliant proven and probable reserves at its two largest operations by 187%, lifting the reserves at its flagship Island Gold mine near Wawa, Ontario, by 206% (net of depletion) and a 29% increase in the reserve grade. As of December 31, the TSX-... 

Colombian court bans mining, oil projects in fragile moorlands

By: Reuters     Updated 6 hours ago Colombia's constitutional court has banned mining and oil projects in the country's ecologically delicate moorlands, sources told Reuters on Tuesday. The decision, which came late on Monday, overturns a previous ruling that said mining companies with older titles to moorland areas could continue... 

Rescue teams 12 m away from trapped miners

By: News24Wire With rescue teams only 12 m away from where the Lily Mine workers in Mpumalanga are trapped, it's now only a matter of drilling through rocks to reach the three. The mine's operations director, Mike Begg, said all efforts on Tuesday would be aimed at breaking through to the lamp room. 

Image seals deal to accelerate WA mineral sands project

By: Esmarie Swanepoel ASX-listed junior Image Resources has inked an agreement with Murray Zircon and its parent company Guandong Orient Zirconic to fast track the development of the Boonanarring mineral sands project, in Western Australia. The agreement covered a number of transactions, including Image acquiring a... 

Worker trapped underground at Newcrest’s Gosowong

By: Esmarie Swanepoel An employee is trapped about 300 m underground at gold miner Newcrest Mining’s Gosowong mine, in Indonesia, after a geotechnical event at the mine on Monday. The company said on Tuesday that at this time, the priority was to contact and rescue the trapped employee, and provide the support... 

Worker trapped underground at Newcrest’s Gosowong

Operations suspended at Baralaba pending Cockatoo restructure

By: Esmarie Swanepoel The Baralaba coal mine, in Queensland, has been placed on care and maintenance in order to preserve cash and the value of the asset, pending a restructure or sale of ASX-listed Cockatoo Coal. Cockatoo went into administration in November last year, after a A$81-million bank guarantee facility... 

WA approval rates a boon for the sector - Minister

By: Esmarie Swanepoel The Western Australian government has announced its best-ever quarter for mineral title approvals speeds, with Mines and Petroleum Minister Bill Marmion saying that thousands of Western Australian resource companies have benefited from the record approvals process times. "This is about backing... 

Ramelius forecasts surge in profits

By: Esmarie Swanepoel Gold miner Ramelius Resources on Tuesday flagged an expected half-year pretax profit of A$28.7-million for the interim period ended December 31. This compared with a pretax net profit of A$5.7-million for the previous corresponding period. 

Southern Gold completes Cambodian divestment

By: Esmarie Swanepoel ASX-listed Southern Gold has completed the divestment of its Cambodian subsidiary Southern Gold Asia, allowing the company to focus its efforts on its Cannon gold mine, in Western Australia. In June of last year, Southern Gold entered into a restructuring agreement with its unlisted joint... 

Aus govt invests in Chinese energy centre

By: Esmarie Swanepoel The federal government would invest A$260 000 to establish the International Energy Agency (IEA) China Centre. Foreign Affairs Minister Julie Bishop said on Tuesday that the funding would help create closer ties between China and the IEA. 

Millennium to be debt free by March

By: Esmarie Swanepoel Gold junior Millennium Minerals has worked to further reduce its debt, with the company aiming o be debt free by the end of March. The ASX-listed Millennium said on Tuesday that it had reduced its outstanding debt by another A$1.25-million in January this year, bringing its total debt to... 

Gupta's face off with EFF in court

By: News24Wire The Gupta family and the Economic Freedom Fighters (EFF) are expected to face off North Gauteng High court on Tuesday. The family, via their company Oakbay Investments,  is understood to have filed an urgent application on behalf of their shareholders, businesses and staff to interdict the EFF on... 

Gupta's face off with EFF in court
Julius Malema

Austral expands land-holding in Chile

By: Esmarie Swanepoel Junior gold developer Austral Gold has struck a deal with TSX-listed Revelo Resources to secure 12 500 ha of mining concessions in Chile, to expand its Amancaya project. The mining concessions currently form part of Revelo’s San Guillermo project, which comprises more than 24 000 ha of... 

Kootenay and Northair merger to create new Mexican silver consolidator

By: Henry Lazenby TSX-V-listed Mexico-focused exploration and development firms Kootenay Silver and Northair Silver on Monday signed a definitive arrangement agreement that would position Kootenay as a dominant landholder in the country. With project consolidation also one of the stated objectives of the combined... 

Noranda Aluminum hit by commodity crash, seeks bankruptcy

By: Reuters Noranda Aluminum Holding Corp, which smelts and refines aluminium and mines bauxite, filed for bankruptcy on Monday, joining a growing list of commodity-related businesses in Chapter 11. Over the past year, scores of commodity-related businesses have filed for bankruptcy as prices for metals,... 

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