http://www.miningweekly.com

Global Mining News in real time

Africa News

Zambia royalty hike to force mine closures – chamber

By: Reuters Zambia's decision to hike royalty rates on open pit mining from 6% to 20% will lead to shaft closures and 12 000 job losses, the chamber of mines said on Friday. Barrick Gold said on Thursday it would suspend operations at its Lumwana Copper Mine after royalty increases were passed into law in... 

Benchmark ferrochrome price settled 6% lower – Merafe

By: Martin Creamer The European benchmark price of ferrochrome has been settled 6% lower for the first quarter of next year, the JSE-listed Merafe Resources said on Friday. The price of $1.08/lb for the first quarter of 2015 is seven cents a pound lower than the current $1.15/lb price of the fourth quarter of 2014. 

Benchmark ferrochrome price settled 6% lower – Merafe
Photo by Duane Daws
Ferrochrome production at Glencore-Merafe's Lion smelter

IMF urges Zambia to resolve tax issues with mining companies

By: Reuters The International Monetary Fund has urged Zambia, Africa's second-largest copper producer, to quickly resolve issues with mining companies over value-added tax refunds and an increase in royalties. Lower world copper prices and the announced shift to a royalty-only min 

First Quantum says Zambia royalties could discourage investment

By: Reuters Zambia's new mining royalty rate could be a "massive disincentive" for future investment if it does not come with some form of capital relief, First Quantum Minerals's president told Reuters on Thursday. President Clive Newall said the miner does not yet know the specifics of the scheme to raise... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law

By: Henry Lazenby Canada’s Barrick Gold Corp will suspend operations at its Lumwana copper mine, in Zambia’s Northwestern province, after the country enacted legislation that raised the royalty rate on openpit mining operations from 6% to 20%. TSX- and NYSE-listed Barrick, the world’s largest gold producer, said... 

Barrick Gold to suspend Lumwana copper ops after Zambia passes new royalty law
Photo by Barrick Gold
Lumwana, Zambia

Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Cashless home loans for migrant mineworkers on way – Teba
Photo by Duane Daws
Graham Herbert

Piran produces first tin in Rwanda

By: Esmarie Swanepoel Unlisted Piran Resources has produced its first tin concentrate from the Musha and Ntunga mines, in Rwanda. This initial production was sourced from reprocessing of tailings dumps from previous mining operations. 

Sword of Damocles hangs over Mintails

By: Esmarie Swanepoel The share price of South Africa-focused gold miner Mintails dropped by nearly 22% on Thursday on news that the company was failing to make its production targets. Mintails told shareholders on Thursday that the company’s openpit operational performance had been impacted by the failure of the... 

Judge refuses Vale request to dismiss Rio Tinto lawsuit in US

By: Reuters A US federal judge on Wednesday refused to dismiss mining giant Rio Tinto's lawsuit against rival Vale, alleging it conspired with Israeli billionaire Beny Steinmetz and BSG Resources to steal the company's valuable mining rights in Guinea. US District Judge Richard Berman of Manhattan rejected... 

Central Rand Gold raising $1.85m to boost surface mining

By: Martin Creamer London- and Johannesburg-listed gold-mining company Central Rand Gold, which is currently being courted by three Chinese suitors, is taking steps to raise $1.85-million in equity capital to boost surface mining production, bring idled underground equipment to surface and reduce staff. The focus... 

Central Rand Gold raising $1.85m to boost surface mining
Photo by Duane Daws
Johan du Toit

CoAL extends mine sale deadline, capital-raise timeframe

By: Martin Creamer The deadline for the disposal of the Mooiplaats colliery by the triple-listed Coal of Africa Limited (CoAL) as well its capital-raising timeframe have been extended out. Johannesburg, London and Sydney-listed CoAL said on Wednesday that it had agreed to give suitor Blackspear Capital more time to... 

CoAL extends mine sale deadline, capital-raise timeframe
Photo by Duane Daws
David Brown

Universal on track for Roodekop delivery

By: Esmarie Swanepoel South Africa-focused coal miner Universal Coal said on Wednesday that it was on track to deliver the Roodekop mine and the New Clydesdale colliery, by 2015. The combined operations would have an installed capacity of more than 6.25-million tonne a year, and an expected run-of-mine production of... 

Magnis signs offtake deal over Tanzanian graphite

By: Esmarie Swanepoel Junior graphite developer Magnis Resources has inked an offtake agreement with China National Materials Industry Import and Export Corporation (SINOMA) from the Nachu project, in Tanzinia. Under the terms of the offtake agreement, SINOMA would purchase some 80 000 t/y of graphite, across all... 

Discovery set to shut Boseto mine

By: Esmarie Swanepoel Copper miner Discovery Metals on Wednesday announced that it would mothball its Boseto openpit operation, in Botswana, within the next six months. The miner told shareholders that a review of the openpit operation had been launched earlier this year to determine the effect of the current and... 

Despite gold hedge book contracting in Q3, full-year growth expected

By: Henry Lazenby A new report released on Tuesday by Societe Generale and Thompson Reuters GFMS had found that net gold hedging had declined by a net 200 000 oz in the third quarter. This was the result of a slowdown in the volume of hedging, which meant that the delivery into and the maturity of pre-existing... 

Despite gold hedge book contracting in Q3, full-year growth expected

'Phenomenal' rise in India's gold imports a concern - trade secy

By: Reuters A "phenomenal" rise in India's gold imports is a concern and the government will watch the impact from a recent easing in gold import rules, Trade Secretary Rajeev Kher said on Tuesday. Gold imports jumped 34% in November to $5.61-billion, sending India's trade deficit to a 18 month high, data... 

Sundance strips down on costs and board members

By: Esmarie Swanepoel Iron-ore developer Sundance Resources on Tuesday announced a number of cost cuts as part of a cash management strategy while the company moved ahead with the development of its Mbalam-Nabeba iron-ore project, on the border between Cameroon and the Republic of Congo. The company told shareholders... 

IMX signs new JV deal over Ntaka Hill

By: Esmarie Swanepoel Junior explorer IMX Resources has agreed to a joint venture (JV) with Mauritius-based Fig Tree Resources Fund II, to divest of more than 70% of its Ntaka Hill nickel project, in Tanzania, in a deal valued at $5.88-million. IMX has been on the hunt for an investor into the Ntaka Hill project... 

Nevsun reports full power restored at Eritrea ops, lifts dividend

By: Henry Lazenby Horn of Arica-focused copper miner Nevsun Resources on Monday reported that a third-party power solutions provider has fixed and restored the electricity supply to the Bisha plant, in Eritrea. Nevsun last week reported that power supply issues had forced a temporary halt in concentrate... 

Despite sagging grades, prices, Rockwell Diamonds reports record Q3 revenue

By: Henry Lazenby Despite a 22% drop in grade, compounded by a 35% slide in realised prices, Southern Africa-focused diamond miner Rockwell Diamonds reported record diamond sales revenue of $15.8-million for the fiscal third quarter ended November 30, boosted by a 127% increase in carats sold. The... 

Despite sagging grades, prices, Rockwell Diamonds reports record Q3 revenue

Johnson Matthey sells gold and silver refining unit to Japan's Asahi

By: Reuters Speciality chemicals firm Johnson Matthey has agreed to sell its gold and silver refining business to Japan's Asahi Holdings for £118-million in cash, the British firm said on Monday. The business, which employs around 340 people, is a refiner of primary and secondary gold and silver, and has... 

Chrome, platinum prices likely to recover – Tharisa

By: Martin Creamer The price of chrome concentrate and the basket price of platinum group metals should recover in 2015, which could mean fourth-quarter profit for the JSE-listed Tharisa Minerals should it achieve its number-one priority of steady state production. Tharisa CEO Phoevos Pouroulis told Mining Weekly... 

Chrome, platinum prices likely to recover – Tharisa
Phoevos Pouroulis

Harmony Gold, Newcrest to spend $2.3bn on Golpu feasibility

By: Martin Creamer Gold mining companies Harmony Gold of South Africa and Newcrest Mining of Australia plan to spend $2.3-billion on developing their Golpu deposit in Papua New Guinea. Harmony and Newcrest, which each own 50% of the Golpu project through the Wafi-Golpu Joint Venture, on Monday gave a firm thumbs up... 

Harmony Gold, Newcrest to spend $2.3bn on Golpu feasibility
Photo by Duane Daws
Graham Briggs

Broke Cons Murch antimony mine begins business rescue proceedings

By: Martin Creamer The troubled antimony and gold operation Cons Murch, which is in financial distress, has begun voluntary business rescue proceedings in consultation with the Department of Mineral Resources, JSE-listed Village Main Reef said on Monday. Its decision follows the inability of unlisted Australian... 

Broke Cons Murch antimony mine begins business rescue proceedings
Photo by Duane Daws
Ferdi Dippenaar

After conquering iron ore, BHP and Rio move to dominate in copper

By: Reuters Rio Tinto and BHP Billiton are amassing vast copper holdings in a push to capture a greater chunk of the $140-billion world market, apparently aiming to squeeze out high-cost producers just as they did in the global iron ore business. Separately and in joint ventures, Rio and BHP intend to mine... 

Newcrest advances feasibility work at Wafi-Golpu

By: Esmarie Swanepoel Gold major Newcrest Mining on Monday announced that the company would proceed with a feasibility study on the Stage 1 development of the Wafi-Golpu project, in Papua New Guinea. A 2012 prefeasibility study (PFS) identified an improved business case for the project by splitting the project into... 

Has China reached peak graphite? – Benchmark Mineral Intelligence

By: Creamer Media Reporter According to a report released this week by London-based Benchmark Mineral Intelligence, China’s share of global natural graphite output will fall by 15% this year to levels not seen since the mid-1990s, when the country began exporting to international markets. This year alone the country’s... 

ANC eyes State sell-off to ease power crunch

By: Reuters Financial problems at South Africa's Eskom have pushed the governing ANC to look into selling stakes in state companies to free up funds to update the utility and ease power blackouts. President Jacob Zuma's African National Congress has long been reluctant to sell company stakes to ease the... 

ANC eyes State sell-off to ease power crunch

Strike ends at Avocet’s Inata mine

By: Natasha Odendaal A week-long strike at London-listed Avocet Mining’s Burkina Faso operations has ended; however, a return to operations would take several weeks. Workers at the Inata gold mine downed tools on December 4, illegally occupying the mine and preventing management access to the mine or plant, following... 

CoAL names new directors as Murray exits

By: Natalie Greve Coal of Africa (CoAL) has appointed Andrew Mifflin and Thabo Mosololi as directors, effective December 12. This came as David Murray resigned as a director of the company, after serving as a member of the board for four years.  

Two directors resign from Ferrum

By: Natasha Odendaal Triple-listed Ferrum Crescent on Friday announced the resignation of two nonexecutive directors. Ted Droste and Kofi Morna were, effective December 31, stepping down to pursue other interests. 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Latest News: Australasia

more

Latest News: Americas

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
R/€ = 14.15Change: 0.05
R/$ = 11.58Change: -0.02
Au 1195.87 $/ozChange: -1.05
Pt 1197.50 $/ozChange: 0.00