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Africa
 
GOLD

Gold Fields profit up, AISC reduced to $1 050/oz

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Nick Holland Gold miner Gold Fields on Thursday reported a 7% increase in operating profit to $311-million for the three months ended June 30. The company’s revenue increased 4% quarter-on-quarter, from $715-million in the quarter ended March 31, to...
21st August 2014
 
 
COAL

Universal granted mining right in S Africa

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South Africa-focused coal miner Universal Coal has been granted a mining right over its Brakfontein coal project, by the Department of Mineral Resources. CEO Tony Weber said on Thursday that the award of a mining right was another key step in the...
21st August 2014
 
 
COAL

Exxaro earnings rise 11%, dividend increased, coal exports soar

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Exxaro CEO Sipho Nkosi The headline earnings per share (HEPS) of the black-controlled diversified mining company Exxaro Resources increased 11% in the six months to June 30, for which it has declared an 11% higher interim dividend. The JSE-listed company, headed by CEO...
21st August 2014
 
 
MINE CONSTRUCTION

Asanko Gold starts building on first phase of Ghana flagship

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West Africa-focused aspirant midtier gold producer Asanko Gold on Wednesday announced that it had started construction of the $295-million first phase of its eponymous flagship project, in Ghana. Phase 1 is expected to produce 200 000 oz/y of gold...
20th August 2014
 
 
PLATINUM

AMCU will not buy Amplats mines – Gama

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Amcu treasurer Jimmy Gama on Wednesday told MPs the union had no plans to buy two mines Amplats is selling off, while the rival NUM said it remained opposed to such a move. "Amcu is not interested in buying those mines," Gama told Parliament's...
20th August 2014
 
 
LABOUR

Atlatsa, unions sign two-year wage deal at Bokoni

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Triple-listed Atlatsa Resources on Wednesday announced that it had reached a two-year wage agreement with recognised unions at the Bokoni platinum mine, in Limpopo. The company said that the agreement, which had been signed by the National Union...
20th August 2014
 
 
DIAMONDS

Gem Diamonds on track for maiden dividend

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Letseng A strong first-half financial and operational performance by London-listed Gem Diamonds “bodes well” for a maiden dividend in March. The diamond miner ended the six months to June with a cash position of $114-million – a jump from the $71-million...
20th August 2014
 
 
COAL

Chinese firm expresses interest in acquiring CoAL shares

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Junior miner Coal of Africa Limited (CoAL) has acknowledged that a subsidiary of Beijing Haohua Energy Resource Company, which is listed on the Shanghai Stock Exchange, intends to acquire up to 215-million shares in CoAL at 5.5p a share. The coal...
20th August 2014
 
 
ESKOM

Cabinet appoints Public Enterprises DG Matona as new Eskom CEO

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Tshediso Matona Public Enterprises Minister Lynne Brown announced on Wednesday that Cabinet had approved the appointment of Department of Public Enterprises (DPE) director-general Tshediso Matona as the new CEO of State-owned electricity producer Eskom. Brown...
20th August 2014
 
 
APPOINTMENTS

Barend Petersen appointed Evraz Highveld chair

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Barend Petersen Barend Petersen has been appointed nonexecutive director and chairperson of Evraz Highveld Steel & Vanadium. This comes after London-listed Evraz last week announced that it would sell a 34% stake in the steel producer to South Africa-based...
20th August 2014
 
 
DIVERSIFIED MINERS

Upbeat Glencore’s share buyback kicks off to analyst adulation

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Glencore CEO Ivan Glasenberg Upbeat diversified miner and marketer Glencore, which declared an 11% higher dividend for the six months to June 30 on the back of above-consensus half-year results, has put a $1-billion share buy-back programme under starter’s orders, which has...
20th August 2014
 
 
PLATINUM

Zimplats halts mining at Bimha

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Zimbabwe-based platinum producer Zimplats has warned of a possible 70 000 oz drop in 2015 financial year production, after deciding to cease all mining activities at its Bimha mine with immediate effect. This decision was taken to ensure the...
20th August 2014
 
 
 
 
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