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Western Australia no longer world's best mining destination

By: Esmarie Swanepoel     Updated 48 minutes ago Western Australia is no longer the world’s top jurisdiction for mining investment, the latest survey by Canada’s Fraser Institute has shown. Moving up three spots in the survey’s investment attractiveness index, Finland is now considered the best address for mining and exploration investment.... 

South Boulder publishes PFS for Eritrea potash project

By: Esmarie Swanepoel     Updated 1 hour ago The prefeasibility study (PFS) into the Colluli potash project, in Eritrea, has estimated that the project would require an initial investment of some $442-million. The PFS examined a two-module development with an expected production of 425 000 t/y sulphate potash for the first five years of... 

Zinc market to reach ‘pinch point’ in 2016/17 as mine closures outweigh new output

By: Henry Lazenby     Updated 4 hours ago TORONTO (miningweekly.com) – Profit margins for zinc miners will probably rise strongly over the next five years, boosted by expected price increases on the back of a widening supply deficit. According to advisory firm Wood Mackenzie (Woodmac) analyst Jonathan Leng, the next two years, 2016 and... 

Africa ready to break the paradox of being primary, yet poorest, mining location

By: Henry Lazenby     Updated 6 hours ago Despite the commodity price collapse, Africa was ready to participate as a host continent to the global mineral extraction industry, South African Mineral Resources Minister Advocate Ngoako Ramatlhodi told the Canada-Southern Africa Chamber of Business's sixteenth Annual African Mining Breakfast... 

Africa ready to break the paradox of being primary, yet poorest, mining location
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Canada strikes more than 10 African foreign investment promotion, protection accords

By: Henry Lazenby     Updated 7 hours ago Canada has concluded foreign investment promotion and protection agreements with more than ten countries in Africa, improving the confidence and protection Canadian companies need to invest abroad. Canada’s International Trade Minister Ed Fast, accompanied by ministerial colleagues from African... 

Canada strikes more than 10 African foreign investment promotion, protection accords
Photo by Foreign Affairs, Trade and Development Canada
The African mining delegation closes the TSX on Tuesday.

African Minerals' lender takes control of iron ore project holding companies

By: Reuters African Minerals said its lender has taken control of two holding companies that own a majority stake in the companies that operate its sole project, the Tonkolili iron-ore mine in Sierra Leone. The miner said on Tuesday it is seeking legal advice on the move by Shandong Steel Hong Kong Zengli. 

Zambia finmin says kwacha will recover this year

By: Reuters Zambia's kwacha currency will recover this year due to an increase in the price of the copper and steps by the central bank to preserve foreign exchange reserves, the finance minister said on Tuesday. "The hard currency earnings will improve as the fiscal year progresses, especially from the... 

BNC closes $20m bond, progresses smelter restart plans

Aim-listed Mwana Africa’s 74.73%-owned subsidiary Bindura Nickel Corporation (BNC) has successfully closed a $20-million bond to buy new equipment for its smelter, in Zimbabwe. BNC was planning to reopen the smelter by December.  

Eqstra not selling contract mining business – yet

By: Irma Venter Eqstra Holdings was going to reduce its exposure to contract mining, but it was not yet ready to sell the troubled business, said CEO Walter Hill on Tuesday. He said Eqstra would not sell its contract mining business in a “depressed market”. He said it would be prudent to first make the business... 

Eqstra not selling contract mining business – yet
Photo by Duane Daws
Walter Hill

RBPlat chalks up FY output, revenue gains to stable labour relations, cost conservatism

By: Natalie Greve Despite a year in which the platinum industry battled extended strikes and a fractious labour relations environment, black-owned Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri said he was “cautiously satisfied” with the company’s 2014 results, attributing revenue, production and earnings gains... 

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Gold Fields could spend up to $500m for working mine

By: Reuters South African bullion producer Gold Fields can afford to spend $300-million and $500-million on an acquisition but is only interested in working mines, its chief executive said. Nick Holland told the Reuters Africa Investment Summit on Tuesday the bulk of mines that fell into that category were... 

Merafe in good position to meet increased ferrochrome demand – Matlala

By: Tracy Hancock JSE-listed Merafe Resources “remains excited” about the industry as its mix of energy efficient technology and the recent addition of Lion II allows the ferrochrome producer to capitalise on projected growth in ferrochrome demand. CEO Zanele Matlala advised in a conference call on Tuesday that... 

Merafe in good position to meet increased ferrochrome demand – Matlala
Photo by Duane Daws
Merafe CEO Zanele Matlala

Khulubuse Zuma loses Aurora court bid

By: Sapa An urgent application by Khulubuse Zuma to have claims of over R1.5-billion against Aurora Empowerment Systems set aside, was dismissed by the High Court in Pretoria on Tuesday. "The application is dismissed with costs," Judge Eberhardt Bertelsmann said. 

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

Rio launches mass data centre in India

By: Esmarie Swanepoel Mining major Rio Tinto has expanded its Mine of the Future programme with the introduction of the world-first Analytics Excellence Centre, in Pune, India. The miner said this week that the centre would assess massive volumes of data captured by an array of sensors attached to the company’s fixed... 

South Africa's RBPlat FY earnings up 38% on higher sales

By: Reuters South Africa's Royal Bafokeng Platinum (RBPlat) said on Tuesday full-year earnings rose 38%, owing to higher sales, cost cuts and as currency weakness lifted the rand price of its metals. The mid-tier producer said in a statement headline earnings per share for the year to December totalled 239c,... 

True Gold formalises technical shutdown at Burkina Faso project

By: Henry Lazenby Damages to equipment and site infrastructure, sustained during a violent protest by local communities at Canadian project developer True Gold's Karma project, in Burkina Faso, in January, amounted to about $6.1-million. The Vancouver-based company on Monday said it had formalised a technical... 

New tech competitive this year – AngloGold

By: Martin Creamer The new raise-boring technology, which produced 100 kg of gold for AngloGold Ashanti in 2014, is targeted to be competitive with conventional mining this year. Last year the company used the raise-bore technology to drill 83 holes in shaft pillars that are unsafe to mine conventionally. 

New tech competitive this year – AngloGold
Photo by Creamer Media
Mike O'Hare

Kibo raises £950 000 through share placement

By: Natalie Greve Tanzania-focused mineral explorer Kibo Mining has received commitments to a share placing of 19-million new ordinary shares at a placing price of 5p apiece to raise gross proceeds of £950 000. “We are very pleased to undertake this placing, primarily because of the strategic advantage of... 

Year-to date diamond prices soften for Trans Hex

By: Natalie Greve Year-to-date production at diamond producer Trans Hex’s South African operations reached 52 667 ct by the end of January, with 32 450 ct produced in the six months ended September 31 and 20 217 ct produced in the four-month period between October and the end of January. The group’s Somiluana... 

Rukwa feasibility, financial studies map out potential 300 MW power plant

By: Natalie Greve A feasibility study and financial model of Edenville Energy’s proposed Rukwa coal-to-power project, in Western Tanzania, have suggested a two-phase construction period that could see the development of an integrated coal mine and power plant boasting generating capacity of some 300 MW. Under the... 

Turbines boosting mine power – AngloGold

By: Martin Creamer Gold major AngloGold Ashanti is installing turbines in underground mines to boost energy regeneration, as part of a strategy of recovering electricity without spending significant amounts of capital. “What we’ve done is put in energy regeneration and capture plants in the form of turbines at two... 

Turbines boosting mine power – AngloGold
Photo by Creamer Media
Mike O'Hare

Medupi Unit 6 to enter stable operations in 'three months' as sync is confirmed 

By: Terence Creamer State-owned electricity utility Eskom announced that first power was produced at 11:03 on Monday March 2, 2015, from Medupi Unit 6, marking a major milestone for the coal-fired power station project, which has been plagued by delays and cost overruns associated with technical and labour problems.... 

Medupi Unit 6 to enter stable operations in 'three months' as sync is confirmed

Gemfields auctions realise $14.95m in revenue

By: Creamer Media Reporter The latest auctions of emerald and beryl and amethyst mined at Aim-listed Gemfields’ operations have realised revenues of $14.95-million. The third auction of emeralds and beryl from the company’s 75%-owned Kagem mine, in Zambia, for the current financial year, saw the sale of 10.1-million carats... 

Bundu expects shale gas exploration right decision this year

By: Mariaan Webb Unconventional gas explorer Challenger Energy expects to hear by the third or second quarter of this year whether its subsidiary, Bundu Gas and Oil Exploration, will be allowed to explore for shale gas in South Africa’s Karoo basin. The ASX-listed company confirmed on Monday that Bundu had lodged... 

 Bundu expects shale gas exploration right decision this year

Randgold appoints former Côte d’Ivoire energy Minister to board

By: Creamer Media Reporter Dual-listed Randgold Resources has appointed Safiatou Francoise Ba-N'Daw as an independent nonexecutive director with effect from March 1. Ba-N’Daw was educated in Côte d’Ivoire, France and the US and she holds an MBA from Harvard University. 

Chinese partner may help finance, develop Magnis’ Tanzania project

By: Mariaan Webb Australian junior Magnis Resources on Monday announced the signing of a memorandum of understanding (MoU) with China-based Sinoma for the financing, design and construction of the Nachu graphite project, in Tanzania. The ASX-listed company said in a statement on Monday that the MoU was... 

Kangala delivers sales record in February

By: Creamer Media Reporter South Africa-focused Universal Coal’s Kangala colliery, in Mpumalanga, achieved record sales of 172 000 t for February – 28 000 t above target. Power utility Eskom took delivery of 160 000 t and 12 000 t was exported through the Richards Bay Coal Terminal. 

Silver to move sideways, while new palladium uses temper platinum outlook

By: Henry Lazenby The strength of the US dollar had been undermining prices for silver, platinum and palladium in recent months, but despite new industrial applications and speculative investment interest, the three precious metals had different market circumstances and divergent outlooks. London-based Thompson... 

Mining investment at the core of African economic development

By: Henry Lazenby The potential for broad-based development driven by mineral resources as well as upstream oil and gas remains largely untapped in African countries, but the quest for solutions to make mineral and petroleum resources an engine for growth and development have been a central preoccupation of... 

Mining investment at the core of African economic development
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