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Mining’s improving fortunes weighed down by debt

By: Simon Rees     Updated 48 minutes ago The mining sector was expected to climb out of the downturn’s trough by year-end 2016, Paradigm Capital partner and senior analyst David Davidson told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society. However, debt levels were a notable... 

Nuclear affordability emphasised, as Zuma unveils economic ‘turnaround plan’

By: Terence Creamer     Updated 2 hours 1 minute ago President Jacob Zuma unveiled the skeletons of what he described as an economic “turnaround plan” in a State of the Nation Address dominated by the current plight of the South African economy, which was unlikely to grow by more than 1% in 2016 and would not nearly approach the 5%-plus levels... 

Nuclear affordability emphasised, as Zuma unveils economic ‘turnaround plan’
President Jacob Zuma

CompCom conditionally approves Tegeta, Optimum merger

By: Megan van Wyngaardt     Updated 5 hours ago South Africa’s Competition Commission has recommended the Competition Tribunal conditionally approve the proposed merger between Gupta-owned Tegeta Exploration, Glencore’s Optimum coal mine and six target firms. The commission found that the proposed transaction was unlikely to substantially... 

CompCom conditionally approves Tegeta, Optimum merger

Ignore communities at your peril, Royal Bafokeng leader tells mines

By: Kim Cloete     Updated 5 hours ago Mining companies in Africa have been criticised for often ignoring the views of communities in which they work. “Many voiceless communities rely on mining to survive. We see mining as vital but the communities that are heavily affected are not at the table when decisions are made,” the leader of... 

Stakeholders urged to embrace fast-approaching digital mining

By: Kim Cloete     Updated 5 hours ago With the interplay between technological development and the mining industry becoming increasingly prominent, delegates at this year’s Investing in African Mining Indaba have been urged to embrace the concept of digital mining. Diversified metals and mining major Vedanta Resources CEO Tom... 

Ebola, insurgents and riots: the perils of West African mining

By: Reuters     Updated 6 hours ago From Ebola to Islamist insurgents to social unrest triggered by the global commodity downturn, mining firms operating in West Africa face mounting security challenges, analysts and executives say. Safety is on all radar screens in the region after an Islamist attack on a restaurant and hotel left... 

Ebola, insurgents and riots: the perils of West African mining

'Simplistic’ to correlate Sasol with oil price as chemicals contribution rises

By: Terence Creamer     Updated 6 hours ago Incoming joint Sasol CEO Bongani Nqwababa believes “simplistic” correlations of the company’s performance to the oil price will become less relevant in coming years as the revenue and profit contribution of its chemicals business rises in line with its large North American expansion projects.... 

'Simplistic’ to correlate Sasol with oil price as chemicals contribution rises
Photo by Duane Daws
Incoming joint Sasol CEO Bongani Nqwababa

S Africa mining activity remains weak

By: Megan van Wyngaardt     Updated 6 hours ago South Africa’s mining production increased 3.3% year-on-year for 2015, following a decrease of 1.4% in 2014, according to data from Statistics South Africa. Output for December, however, decreased by 0.3% year-on-year, with negative growth rates recorded for iron-ore, down 17.1%; copper, down... 

Glencore reports lower FY coal, copper output

By: Creamer Media Reporter Output across most of diversified major Glencore’s production categories fell in 2015, with coal output down 10% year-on-year, copper production 3% year-on-year and nickel 5% year-on-year. Coal production decreased to 131.5-million tonnes, owing to the curtailment of production in response to... 

Glencore reports lower FY coal, copper output

Rutile production ramps up in Sierra Leone

By: Kim Cloete Sierra Rutile has risen above civil war and, more recently, the Ebola virus, to deepen its mining operations, with ambitions to become the largest global rutile producer. The Sierra Leone-based company currently supplies 17% of global demand. It sells to bitumen producers throughout the world,... 

Rio Tinto CFO says well placed to chase acquisitions

By: Reuters Global miner Rio Tinto is well placed to chase acquisitions, CFO Christopher Lynch said on Thursday as the company released its 2015 results. CEO Sam Walsh earlier said that there were no assets on market that excited Rio Tinto right now, in a call to reporters following its results. 

Rio Tinto targets $2bn savings as it slumps to full-year loss

By: Esmarie Swanepoel Mining major Rio Tinto on Thursday announced that it would cut about $1-billion from its operating cost base in 2016, and an additional $1-billion in 2017, in an effort to fight dwindling commodity prices as it swung into a loss. “The continued deterioration in the macro environment has... 

Rio Tinto targets $2bn savings as it slumps to full-year loss
Photo by Bloombeg
Rio Tinto CEO Sam Walsh

Bokoni mine reports fatality

By: Natasha Odendaal One employee has died and another was seriously injured in a utility vehicle accident at Bokoni platinum mine’s Brakfontein shaft on Wednesday, TSX- and JSE-listed Atlatsa Resources Corporation has reported. All operations related to the use of trackless equipment at the Brakfontein shaft were... 

Kimberley Diamonds' Lerala to start mining in March

By: Esmarie Swanepoel ASX-listed Kimberley Diamonds has awarded an openpit mining contract at its Lerala diamond mine, in Botswana. The company said on Thursday that the mining contract, awarded to Basil Read Botswana, would cover an initial five years of mining and had an anticipated value of about A$47-million. 

Amplats continues to slim down

By: Creamer Media Reporter Deputy editor online Natasha Odendaal joins senior deputy editor Tracy Hancock in studio to discuss this strategy, as the platinum-group metals mining industry moves closer to a prolonged weak price environment. 

Amplats continues to slim down

Zambia sees higher economic growth on improved power supply

By: Reuters Zambia's economy is expected to expand by 3.7% this year, largely stable from last year but could grow more than four% in 2017, the deputy finance minister said on Wednesday. An electricity shortage in Africa's no 2 copper producer has stunted the mining sector, while weaker copper prices due to... 

Zambia sees higher economic growth on improved power supply

Congo drops mining code revision in face of industry pressure

By: Reuters Democratic Republic of Congo has dropped plans to revise its mining code to boost government revenues, the country's mines minister said on Wednesday, bowing to fierce industry pressure amid steep commodity price drops. The government of Africa's leading copper producer initiated the review of... 

Congo's copper output falls on low prices, gold rises

By: Reuters Copper production in Democratic Republic of Congo dropped for the first time in six years in 2015 and this year could be another tough one as low commodity prices bite, the Central African country's chamber of mines said on Wednesday. Output dropped 3.3% in Africa's top copper producer to 995 805... 

Gold demand remained flat in 2015 – WGC

By: Anine Kilian Global gold demand of 4 212 t in 2015 was virtually flat compared with that of 2014, according to the World Gold Council’s (WGC’s) latest Gold Demand Trends report, released on Thursday. Despite a challenging start to the year, gold demand had rebounded in the second half of 2015 as a result of... 

Gold demand remained flat in 2015 – WGC

Gold miner Kinross forecasts brighter 2016 production, costs

By: Reuters Kinross Gold, squeezed by slumping prices and production declines, expects to shake off a money-losing 2015 with record output and lower costs this year, the world's fifth-largest producer by output said on Wednesday. CEO Paul Rollinson said the Toronto-based miner is "running a tight ship" that... 

Engineers Without Borders working towards establishing local procurement reporting standard

By: Henry Lazenby The Mining Shared Value initiative of Engineers Without Borders Canada (EWB) has partnered with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to work with international mining companies in establishing a measurement and reporting standard for local procurement by the... 

Caledonia heads into revised investment plan

By: Anine Kilian Southern Africa-focused exploration and development company Caledonia Mining Corporation has entered into a six-month cap and collar hedge with a financial counterparty over 15 000 oz of production, using a collar value of $1 050/oz and a cap value of $1 080/oz. The hedge would provide Caledonia... 

AngloGold says Ghana manager killed in riot over illegal mining

By: Reuters AngloGold Ashanti said on Wednesday its head of corporate affairs in Ghana was killed on Saturday during a riot among illegal miners at its Obuasi mine, which is currently idle as the company waits for a partner for the operation. "We can confirm that John Owusu was killed on Saturday," AngloGold... 

Global interest in nuclear development on the rise, hears Mining Indaba

By: Kim Cloete Amid declining nuclear costs, more nuclear power stations are being constructed now than in any other time in history, according to Australian energy major Peninsula Energy Limited (PEN) CEO Gus Simpson. Addressing delegates at the 2016 Investing in African Mining Indaba, Simpson conceded that... 

Global interest in nuclear development on the rise, hears Mining Indaba

With steel protection set to widen, focus turns to downstream risks

By: Terence Creamer With confirmation that government and the steel industry are close to finalising a package of measures designed to preserve the future of the embattled primary steel sector, there are concerns that domestic steel consuming industries could be squeezed between tariff-protected domestic steel... 

With steel protection set to widen, focus turns to downstream risks

Platreef will be the largest PGMs mine in the world, promises Friedland

By: Kim Cloete Africa-focused explorer and project developer Ivanhoe Mines is confident that its Limpopo-based Platreef mine, which is expected to produce 12-million tonnes a year, will be the largest platinum group metals (PGMs) mine in the world “by a massive margin”. Addressing conference delegates at the... 

Platreef will be the largest PGMs mine in the world, promises Friedland
Ivanhoe Mines CEO Robert Friedland

Mining Indaba is more relevant in bust than in boom – MD

By: News24Wire The mining crisis and subsequent job losses in the industry might have had an impact on the number of delegates at the Investing in African Mining Indaba in 2016, but the dialogue between key leaders at the event meant this year’s event carried greater weight than other years. That is according... 

Mining’s stressed state moving govts, investors closer – Bristow

By: Martin Creamer The current stressed state of the mining sector was prompting governments and investors to work together to sustain the industry and make it deliver real value for all stakeholders, Randgold Resources CEO Dr Mark Bristow said on Wednesday. Speaking at the 2016 Investing in African Mining Indaba,... 

Mining’s stressed state moving govts, investors closer – Bristow
Photo by Bloomberg
Randgold Resources CEO Dr Mark Bristow

Innovation the key to success in troubled mining sector

By: Kim Cloete A study into innovation in Africa’s mining sector has shown that mining houses will need to innovate if they want to succeed in a sector marked by plunging commodity prices, deeper and more dangerous mines, greater geographical complexity and labour unrest. The ‘Innovation State of Play: Africa’... 

Innovation the key to success in troubled mining sector

Indonesia allows Freeport to resume copper exports for another six months

By: Reuters Indonesia on Wednesday granted Freeport-McMoRan a new six-month export permit for shipments from one of the world's largest copper mines, ending a near two-week stoppage due to a dispute over payment for a new metal smelter. The deal is a relief for both sides as a lengthy halt in exports would... 

Africa entering phase of becoming factory of world – Menell

By: Martin Creamer Africa was entering a phase of becoming the factory of the world requiring the building of facilitating infrastructure, Credit Suisse Securities chairperson Rick Menell. Speaking  during a panel discussion at the 2016 Investing in African Mining Indaba, Menell outlined how Africa’s large resource... 

Africa entering phase of becoming factory of world – Menell
Photo by Duane Daws
Credit Suisse Securities chairperson Rick Menell

Lily Mine rescue team moves 550 t of rock

By: News24Wire At 08:40 on Wednesday morning it was exactly five full days since disaster struck at Lily Mine in Louisville, near Barberton in Mpumalanga. For the past 120-plus hours, rescue teams have been working non-stop to get to the last three mineworkers that remain trapped in a metal container which the... 

Montepuez proves up for Metals of Africa

By: Esmarie Swanepoel A concept study into ASX-listed Metals of Africa’s Motequez graphite project, in Mozambique, has estimated that the project could deliver up to 100 000 t/y of graphite concentrate, for a capital investment of $166-million. Based on a processing rate of 1.2-million tonnes a year, the project is... 

Guptas get interdict against EFF

By: News24Wire The Gupta brothers on Tuesday obtained an urgent interdict to stop the EFF from threatening them. Judge Johan Louw granted an order in the High Court in Pretoria, interdicting the party, its leader Julius Malema and its Gauteng spokesperson Ntobeng Ntobeng from making threats of violence against... 

Guptas get interdict against EFF

Danakali eyes new product stream at Colluli

By: Esmarie Swanepoel Potash developer Danakali would initiate a scoping study into potential sulphate of potash magnesia (SOP-M) production from its Colluli project, in Eritrea. The company said on Wednesday that it had produced high purity, chloride free SOP-M from the Colluli potash project using salts from the... 

Anglo engaging harshest critics, Indaba hears

By: Martin Creamer Anglo American is engaging with its harshest critics because they are often the best people to learn from, Anglo American CEO Mark Cutifani said during a panel discussion at the 2016 Investing in African Mining Indaba. Moderated by International Council on Mining and Metals (ICMM) CEO Tom... 

Anglo engaging harshest critics, Indaba hears
Photo by Duane Daws
Anglo American CEO Mark Cutifani

China has ‘very serious’ structural problem – Broadman

By: Martin Creamer A very serious structural problem is playing itself out in China and not merely a reorienting to a consumption-led economy, says Council on Global Enterprise and Emerging Markets director Dr Harry Broadman. Broadman, who delivered the second keynote address at the 2016 Investing in African Mining... 

China has ‘very serious’ structural problem – Broadman

Rwanda signs tin and tantalum mining deal with Omani-owned Tri Metals

By: Reuters Rwanda has signed a five-year mining contract worth $39-million with a unit of Oman's Mawarid Mining to extract tin, tantalum and niobium, the mining ministry said on Tuesday. Mining, which the government says contributes about 1.5% of Rwanda's $7.9-billion gross domestic product, is the East... 

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