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Power no longer major threat to Moma – Kenmare

By: Natasha Odendaal Power supply challenges that have affected production at the Moma titanium minerals mine, in northern Mozambique, have been eased considerably with visibly improved power quality and consistency since December, enabling a production surge during the first quarter of the year. Titanium minerals... 

DRDGold declares Q3 dividend

By: Natasha Odendaal Dual-listed DRDGold on Friday declared a dividend of 38c a share for the third quarter of the 2016 financial year. The group’s total distribution for the year to date was now 50c a share, when added to the 12c a share interim dividend declared in February, representing a 400% increase on the 10c... 

CoAL signs MoU with potential investor for Makhado project

By: Anine Kilian Coal of Africa Limited (CoAL) has signed a memorandum of understanding with Qingdao Hengshun Zhongsheng, which has shown an interest in acquiring an interest in CoAL’s flagship Makhado coking coal project, in the Soutpansberg coalfield. Hengshun had now started a due diligence on Makhado. 

CoAL signs MoU with potential investor for Makhado project

Kibo Mining completes review of feasibility study for Mbeya coal project

By: African News Agency Kibo Mining on Friday announced that the review of the Power Definitive Feasibility Study (PDFS) had been completed successfully, clearing one more regulatory hurdle into the development 250 MW to 350 MW mouth-of-mine thermal power station, the Mbeya Coal To Power Project (MCPP), in south-western... 

Universal Coal anticipates improved April performance

By: Natasha Odendaal Following the completion of the pit configuration activities and the resumption of steady-state production at Kangala colliery, Universal Coal now expects record domestic sales of more than 200 000 t in April. As run-of-mine (RoM) coal production continued to improve, the colliery’s performance... 

Universal Coal anticipates improved April performance

Mining graduates urged to show ingenuity amid bleak near-term jobs outlook

By: Dylan Slater The job prospects for the growing number of South African mining engineering graduates have become increasingly uncertain as a result of the plunge in commodity prices. In fact, mining industry leaders who attended the University of the Witwatersrand’s (Wits’) School of Mining Engineering... 

Mining graduates urged to show ingenuity amid bleak near-term jobs outlook

Eritrean potash project signs eight nonbinding offtake MoUs

By: David Oliveira ASX-listed potash developer Danakali has signed nonbinding memorandums of understanding (MoUs) with eight multinational parties throughout Northern Africa, Europe, the Middle East and North America for the offtake of sulphate from its 50%-owned Colluli potash project in Eritrea, in East Africa.... 

Geology data of Botswana district launched for public perusal

By: Dylan Slater Exploration and earth sciences company Geosoft launched its Botswana Geoscience Portal last month, which is a partnership initiative with the Botswana Geoscience Institute and industry sponsors. Data available on the Botswana Geoscience Portal includes airborne geophysics, ground geophysics and... 

MetSkill

By: Creamer Media Reporter Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

First Quantum swings to Q1 profit as production rises

By: Henry Lazenby Canadian base metals producer First Quantum Minerals has swung to a first-quarter profit as strong production at all its continuing operations underpinned rising revenues. Net earnings from continuing operations attributable to TSX- and LSE-listed First Quantum shareholders was $49-million in the... 

Despite Otjikoto slope failure, B2Gold gold output on course for another record year

By: Henry Lazenby Canadian gold producer B2Gold has exceeded its first-quarter production guidance by 8 966 oz of gold, for company-wide output of 127 844 oz of the yellow metal, an increase of 10% over the same period in 2015. Despite a slope failure on the pit access ramp at the Otjikoto mine, in Namibia, on... 

Jubilee’s ASA punching above its processing weight

By: Natasha Odendaal AltX- and Aim-listed Jubilee Platinum has increased the chrome processing capability of its Dilokong chrome mine (ASA project) beyond its design capacity. In an update to the market on Thursday, CEO Leon Coetzer said the ASA project was currently processing feed at 60 t/h, significantly above the... 

Kenmare enters agreement for proposed $100m investment

Mozambique-focused Kenmare Resources has entered into a conditional subscription and relationship agreement with chemicals trading company King Ally Holdings for a proposed $100-million investment in Kenmare. The proposed investment would be on the basis that King Ally would hold a maximum 29.9%... 

Zwane, Chamber of Mines enter engagement

By: Natasha Odendaal Constructive bilateral engagement between Mineral Resources Minister Mosebenzi Zwane and the Chamber of Mines (CoM) has kicked off amid controversy surrounding the shock gazetting of the draft amended Mining Charter last month. The parties aimed to unpack “pertinent” issues within South Africa’s... 

New Transnet chief prioritising diversification as commodity ‘meltdown’ bites

By: Terence Creamer State-owned freight logistics group Transnet is taking aim at new sectors, such as fast-moving consumer goods (FMCG) and manufacturing, as it seeks to sustain volumes amid the prevailing commodity “meltdown”. Speaking publically for the first since his appointment as permanent Transnet CEO,... 

New Transnet chief prioritising diversification as commodity ‘meltdown’ bites
Photo by Duane Daws
Transnet CEO Siyabonga Gama

Vital launches scoping study in Burkina Faso

By: Esmarie Swanepoel ASX-listed junior Vital Metals has launched a scoping study at its Kollo gold deposit, in Burkina Faso, to evaluate the feasibility of an openpit project. MD Mark Strizek said on Thursday that the project provided a compelling near-term development and cash flow opportunity for Vital Metals. 

Gold miner Goldcorp beats market forecasts, swings back to profit

By: Reuters Canadian gold producer Goldcorp Inc on Wednesday reported better-than-expected earnings, returning to a profit in the first quarter on the back of higher production and lower costs. Goldcorp, the world's third-biggest gold producer by market value, left its 2016 production and cost forecast... 

Gold miner Goldcorp beats market forecasts, swings back to profit

Sherritt widens headline loss as low oil, metals prices hurt Q1 financials

By: Henry Lazenby Diversified miner Sherritt International has reported a 79% wider adjusted loss year-on-year in the first quarter, as nickel, cobalt and oil prices have plunged during the period. Excluding special items of about C$79.1-million, Toronto-based Sherritt recorded an adjusted loss of... 

Iron-ore, steel lead China commodities retreat as curbs bite

By: Reuters A major Chinese commodities exchange took further steps to calm volatile markets on Wednesday, hiking transaction fees and widening trade limits in a move that could make exiting futures contracts more orderly. Iron-ore and steel futures fell again in reaction to higher trading costs, brought in... 

Iron-ore, steel lead China commodities retreat as curbs bite

SA growth likely worst in sub-Saharan Africa – report

By: News24Wire South Africa is likely to be the worst performer in sub-Sahara Africa (SSA) with a projected gross domestic product (GDP) expansion of 0.7% this year. This is according to the latest outlook for the region by FocusEconomics. 

SA growth likely worst in sub-Saharan Africa – report

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook

By: Henry Lazenby A 17% rally in the price of gold during the first quarter of the year to around $1 270/oz happened too rapidly according to market analysts at Thomson Reuters GFMS, as poor demand from Asia would probably see the gold price fall below $1 200/oz over the next few months. However, this price level... 

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook

World Bank does not see platinum rally being sustained

By: Terence Creamer The World Bank does not expect the recent rise in platinum prices to be sustained for the full year, with its latest ‘Commodity Markets Outlook’ report forecasting a 10% year-on-year price decline in 2016. The report, released on April 26, notes that precious metals prices increased by 6% in the... 

World Bank does not see platinum rally being sustained

Freeport loss doubles as low prices bite

By: Henry Lazenby US diversified miner Freeport McMoRan has booked a $3.8-billion write-down of the carrying value of its oil and gas properties, on the back of lower West Texas Intermediate prices. The company reported a net loss attributable to common stock totalling $4.2-billion, or $3.35 a share, for... 

Barrick surprises on the upside despite Q1 production loss

By: Henry Lazenby Chief gold producer Barrick Gold has delivered a strong financial performance during the first quarter, doubling headline earnings and beating stock market forecasts; all the while making good progress on strategic objectives despite a 7.9% decline in output. The Toronto-based company, whose... 

Barrick surprises on the upside despite Q1 production loss

Lynne Brown: SOEs must stay in government hands 

By: News24Wire Government needs to retain its ownership of state-owned companies to ensure economic growth and create employment for generations to come, said Public Enterprises Minister Lynne Brown. In her budget speech for the 2016-17 financial year, Brown emphasised that South Africa’s parastatals, worth... 

Lynne Brown: SOEs must stay in government hands
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Sierra Rutile resumes rutile sales to titanium market

By: Creamer Media Reporter Aim-listed mineral sands miner Sierra Rutile on Tuesday reported the achievement of two milestones – the resumption of rutile sales into the titanium metals market and the completion of construction at its Gangama dry mining project, in Sierra Leone. The resumption in rutile sales into the... 

Polish State-controlled firms agree to put $620m into coal group

By: Reuters Six Polish State-controlled firms have agreed to put $620-million into a newly-established state coal mining group PGG, they said on Tuesday, as part of an effort to save the European Union's largest coal miner Kompania Weglowa from bankruptcy. Kompania is on the brink of bankruptcy as a result... 

Encouraging progress overshadowed by loss of life – Implats

By: Martin Creamer Continuing mourning over the loss of the lives of six employees had completely overshadowed the encouraging progress being made to build a stronger and more robust business, Impala Platinum (Implats) CEO Terence Goodlace said on Tuesday. In the three months to March 31, four employees lost their... 

Encouraging progress overshadowed by loss of life – Implats
Photo by Duane Daws
Terence Goodlace

Sylvania Q3 results benefit from basket price recovery

By: Samantha Herbst Owing to a 10% recovery in the platinum-group metals (PGMs) basket prices in the third quarter ended March 31, low-cost platinum-group metals (PGMs) producer Sylvania Platinum’s revenue increased again, off the back of a double-digit rise in revenue in the previous quarter. With the recovery of... 

Brown wants high cost of coal to Eskom investigated 

By: Terence Creamer Public Enterprises Minister Lynne Brown argued in Parliament on Tuesday that, as a 60% offtaker of coal in South Africa, Eskom should be in a position to command better coal prices and lamented the fact that the State-owned utility’s coal costs were rising at levels above inflation. “I am well... 

Brown wants high cost of coal to Eskom investigated

Petra lifts FY production guidance, seeks to establish JV for Kimberley assets

By: Creamer Media Reporter LSE-listed Petra Diamonds has lifted its full-year production guidance to between 3.6-million and 3.65-million carats, compared with the previous guidance of 3.3-million to 3.4-million carats, owing to the initial integration of the Kimberley Mines assets. De Beers Consolidated Mines in December... 

Peak restructures Ngualla BFS financing

By: Esmarie Swanepoel Rare earths hopeful Peak Resources on Tuesday announced a restructured funding package to underpin the completion of a bankable feasibility study (BFS) for its Ngualla project, in Tanzania. The new arrangement would see Peak undertake a placement and rights issue to raise some A$7-million.... 

Alkane reveals plans to raise A$16m for Dubbo

By: Esmarie Swanepoel ASX-listed Alkane Resources has revealed plans to raise about A$16-million to progress the development of its Dubbo zirconia project, in New South Wales. Alkane told shareholders on Tuesday that the company would undertake a pro-rata traditional non-renounceable entitlement offer, offering one... 

Nersa seeks to curb Eskom, coal mines

By: News24Wire The National Energy Regulator (Nersa) wants to determine a coal benchmark cost - an average rand/tonne cost of coal - as part of its final decision on Eskom's multi-year price determination (MYPD) process. Nersa proposes that this coal benchmark cost it determines would then be used for... 

Nersa seeks to curb Eskom, coal mines

Nevsun Reservoir deal shows M&A appetite for quality mines – execs

By: Reuters A tussle for control of a promising copper project in Serbia shows there is appetite for high quality mining assets in stable countries and may be a harbinger of further industry mergers and acquisitions, executives involved in the deal said on Monday. Nevsun Resources Ltd said on Sunday it had... 

Oakbay workers march to South African banks to ‘save’ their jobs

By: African News Agency Hundreds of workers from Gupta family-owned Oakbay Investments will on Tuesday march to the banks in an effort to save their jobs. The operations of Oakbay were thrown into jeaopardy after South Africa’s four main banks closed accounts of businesses owned by the controversial family. 

Oakbay workers march to South African banks to ‘save’ their jobs

Rockwell sales slide as it reforms corporate structure

By: Henry Lazenby South Africa-focused diamond producer Rockwell Diamonds has seen a 45% year-on-year decline in the sales value of its precious gems to $7.13-million during the fourth quarter ended February 29, the company reported on Monday. During the period, carats sold declined by 42% year-on-year to 4 025 ct... 

Rockwell sales slide as it reforms corporate structure

Randgold to start geophysical survey over Loncor's Ngayu project

By: Henry Lazenby Africa-focused gold miner Randgold Resources will start a geophysical survey over joint-venture (JV) partner, TSX-listed Loncor Resources' Ngayu project, in the Democratic Republic of Congo (DRC). LSE- and Nasdaq-listed Randgold will make use of high-resolution, helicopter-deployed,... 

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