http://www.miningweekly.com

Global Mining News in real time

Africa News

Gas represents a R250bn opportunity for South Africa – McKinsey

By: Terence Creamer     Updated 3 hours ago Global management consultancy McKinsey & Company argues that South Africa should urgently pursue a ‘big gas’ energy option to bridge an electricity supply gap of between 6 GW and 10 GW that could arise by 2025 as older coal-fired power stations are decommissioned. The recommendation is contained... 

Lower prices contribute to 56% fall in Zimplats’ FY profit

By: Megan van Wyngaardt Declining platinum prices pushed ASX-listed Zimplats’ after-tax profit down 56% year-on-year to $56 138 for the year ended June 30. Revenue for the financial year decreased by 29%, from $576-million in the previous year to $408-million, mainly owing to a 20% reduction in platinum, palladium,... 

Gas emerges as key focus area for DoE in immediate future

By: Natasha Odendaal There are indications that South Africa’s much neglected gas industry may start seeing renewed activity, as Energy Minister Tina Joemat-Pettersson on Monday pushed forward her ambitions for immediate focus to shift to the development of gas-sourced power, alongside the successful renewable-energy... 

Gas emerges as key focus area for DoE in immediate future
Energy Minister Tina Joemat-Pettersson

Govt, labour, business ink declaration to stem jobs losses in mining sector

By: Natalie Greve Several trade unions, representatives of the Department of Mineral Resources and leaders from the Chamber of Mines (CoM) have committed to embarking on a ten-point action plan aimed at stemming the deluge of jobs in the buckling sector, on Monday signing a declaration crafted during a... 

Govt, labour, business ink declaration to stem jobs losses in mining sector

Poor Aus, mining markets cut WBHO’s profits, employment

By: Irma Venter The slow Australian market and a declining mining sector took their toll on construction group Wilson Bayly Holmes-Ovcon (WBHO) for the year ended June 30, with operating profit sliding to R602-million, down sharply from the previous year’s R978-million. Earnings a share of continuing operations... 

 Poor Aus, mining markets cut WBHO’s profits, employment
Louwtjie Nel

Preferred Highveld bidder could be named this week

By: Terence Creamer Three formal bids have been received by the practitioners presiding over the business rescue of steel producer Evraz Highveld Steel and Vanadium and a preferred bidder could be named by as early as Wednesday. Business rescue practitioner Piers Marsden told Engineering News Online on Monday that... 

Preferred Highveld bidder could be named this week

AMSA moves ahead with job cuts, says recent protection will help only in longer term

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that processes had been initiated “with immediate effect” that could result in the retrenchment of 400 people at the Vereeniging meltshop and the forge, in southern Gauteng. An “industrial footprint review” had also been... 

AMSA moves ahead with job cuts, says recent protection will help only in longer term

S Africa seals mining jobs deal, proposes platinum plan

By: Reuters South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs. The document of the blue print seen by Reuters last week included boosting platinum by promoting the metal as a central... 

S Africa seals mining jobs deal, proposes platinum plan

Magnum offloads remaining share in Tantalite Valley project for R7m

By: Natalie Greve ASX-listed Magnum Mining & Exploration has moved to offload its remaining 40% interest in the Tantalite Valley project, in Namibia, to fellow miner African Tantalum for R7-million, recently signing a sale and purchase agreement that would see it sell its remaining shareholding in the project and... 

Higher revenues contribute to Perseus' record FY profit

By: Esmarie Swanepoel Dual-listed gold miner Perseus Mining has reported record profits for the 2015 financial year, on the back of higher revenues and a foreign exchange gain of some A$52.4-million. Net profit after tax increased to a record A$92.2-million for the year under review, a A$124.2-million, or 288%,... 

Colluli DFS to be completed by year-end – Danakali

By: Esmarie Swanepoel A definitive feasibility study on the Colluli potash project, in Eritrea, is expected by the fourth quarter of this year. Joint project owner Danakali noted on Monday that, while a number of enhancements to the project would be fully explored by the end of September, discussions with equipment... 

Tanzania's opposition vows to review mining, gas contracts

By: Reuters Tanzania's main opposition presidential candidate said he would review mining and gas contracts, and also scrap "unnecessary" tax exemptions for mining companies, if elected president of the east African nation in October. Former prime minister Edward Lowassa, 62, snubbed as the ruling party's... 

Tanzania's opposition vows to review mining, gas contracts

S&P's cuts metals price forecasts, to review miners' ratings

By: Reuters Standard & Poor's (S&P's) warned on Monday it was likely to revise the credit ratings for some miners over the next week after cutting its price forecasts for aluminium, copper, zinc, nickel and gold and said it expected prices to remain volatile. The rating agency slashed its nickel forecasts... 

Zambia forecasts lower growth, larger deficit as copper earnings shrink

By: Reuters Zambia expects slower economic growth and a bigger fiscal deficit this year as weak global demand for copper hits exports, documents released by the Ministry of Finance on Sunday show. Global commodity prices have dropped sharply on concerns that China's economy is slowing after years of rapid... 

Zambia forecasts lower growth, larger deficit as copper earnings shrink

Zuma outlines economic impact of power shortfall as he opens Medupi unit

By: Reuters President Jacob Zuma opened South Africa's first new power plant in 20 years on Sunday with a warning that the country's perennial energy shortages were hampering economic growth. Construction on the six-unit, 4,764 MW Medupi plant near Lephalale, about 350 km north of Johannesburg, was started... 

Zuma outlines economic impact of power shortfall as he opens Medupi unit

Buffalo Coal appoints new board members

By: Megan van Wyngaardt Dual-listed coal miner Buffalo Coal has appointed Eddie Scholtz and John Wallington to its board, effective September 1, following the resignation of John Dreyer and Michael Price. The board thanked Dreyer and Price for their valued contributions to the company over the past three years, and for... 

Atlatsa still uncertain of financial filings date

By: Natasha Odendaal JSE- and TSX-listed Atlatsa Resources remains uncertain as to when it will be able to file its interim financial results, after having missed the System for Electronic Document Analysis and Retrieval and Electronic Data Gathering, Analysis and Retrieval filings deadline two weeks ago. With... 

TAC, Sonke admitted as friends of court in silicosis case

By: Natasha Odendaal The Treatment Action Campaign (TAC) and Sonke Gender Justice have been given the green light to present evidence against gold mining companies in a potential class action suit by hundreds of thousands of miners who contracted silicosis and tuberculosis (TB) in their line of work. The South... 

Edikan mine unaffected by illegal miner clashes – Perseus

By: Megan van Wyngaardt Dual-listed gold miner Perseus Mining on Friday said its gold production had been unaffected by clashes between illegal miners and Ghanaian national security forces in the town of Ayanfuri near the company’s Edikan mine. Perseus explained that members of the Ghanaian military were last week... 

First Quantum Minerals launches $2.1bn Zambia copper mine

By: Reuters Canada's First Quantum Minerals on Friday launched production at its $2.1-billion copper Sentinel mine which has been under construction since June 2012. The mine would produce 280 000 t/y to 300 000 t/y of copper at full production from one large low-grade ore body containing 0.51% copper, First... 

First Quantum Minerals launches $2.1bn Zambia copper mine

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

By: Terence Creamer The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation bound rate of 10%. However, government insisted that... 

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

S Africa's trade Minister imposes steel tariffs with conditions

By: Reuters South Africa will introduce a new 10% customs duty on certain steel products, Trade and Industry Minister Dr Rob Davies said on Friday, aimed at protecting the local manufacturing industry from cheaper Chinese steel imports. Following complaints from ArcelorMittal and SAFAL Steel, Davies approved... 

S Africa's trade Minister imposes steel tariffs with conditions

Kenmare’s H1 losses widen

By: Natasha Odendaal London-listed Kenmare Resources reported continued widening losses for the first half of the year as reduced production and a weak market battered its performance. The company, which operates the Mozambique-based Moma titanium minerals mine, on Friday posted an operating loss of $27.2-million for... 

South Africa's platinum industry 'extremely ill' – Lonmin CEO

By: Reuters Lonmin's CE said on Thursday that 80% of South Africa's platinum production was making a loss and mines were not responding to cash injections from investors. "Many mines in the platinum sector today are extremely ill and have not responded to the one single cure of cash injections," Ben Magara... 

BHP Billiton still bullish on China

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's bullishness on China, as well as the demerged South 32's opportunity to work with Eskom on additional coal supply. 

BHP Billiton still bullish on China

Eskom awards $25m Limpopo transmission contract to Abengoa 

By: Terence Creamer Spanish technology group Abengoa has announced that it has been awarded a $25-million contract by South Africa’s State-owned electricity utility Eskom for the construction of two 400 kV transmission lines spanning 174 km. The company, which is building large-scale concentrated solar power (CSP)... 

Eskom awards $25m Limpopo transmission contract to Abengoa

AngloGold Ashanti reports fatality

By: Megan van Wyngaardt An AngloGold Ashanti employee was fatally injured following a seismic-related incident at the Mponeng mine, near Carletonville, on Thursday. Senior inspectors of the Department of Mineral Resources and Mponeng mine management conducted an on-site inspection and agreed remedial actions had been... 

De Beers renews R57m Afrox contract

By: Megan van Wyngaardt Diamond miner De Beers Group has renewed gas and welding company Afrox’s R57-million contract for the supply of industrial and medical gases, welding consumables and bulk liquefied petroleum gas for the next five years. The contract came at a time when De Beers was investing R20-billion in... 

De Beers renews R57m Afrox contract

Buffalo to fight DMR’s retraction of Aviemore mining right

By: Natasha Odendaal As JSE- and TSX-listed Buffalo Coal prepares to contest the Department of Mineral Resources’ (DMR’s) decision to withdraw its Aviemore anthracite mine’s mining right, it is moving to obtain an urgent interdict to ensure the right is not awarded to another company. The South Africa-focused coal... 

Buffalo to fight DMR’s retraction of Aviemore mining right

Ramatlhodi mired in new mine rights row – newspaper

By: RDM News Wire Aquila Resources‚ a subsidiary of China’s state-owned Baosteel‚ which has had a long-running battle with the Department of Mineral Resources over a manganese deposit‚ is poised to approach the courts to seek a judicial review if a resolution is not reached‚ Business Day reported. If the legal... 

Ramatlhodi mired in new mine rights row – newspaper
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Cost cuts to hit mining jobs, State revenues in Congo – chamber

By: Reuters Expected cost-cutting by mining companies in Democratic Republic of Congo is likely to lead to layoffs and reduce government revenues amid a sharp decline in metals prices, the chamber of mines said. Falling prices would not affect copper output this year, the chamber said in a report seen by... 

Tiger struggles in interim period

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has swung to a loss in the interim period ended June, despite a 111% increase in revenues. Tiger on Friday reported a net loss after tax of A$5.6-million for the six months under review, compared with a net profit after tax of A$10.3-million in the previous... 

Energizer’s graphite qualifies for next phase of supply chain testing

By: Henry Lazenby Two independent third parties have successfully manufactured spherical graphite from project developer Energizer Resources’ Molo flake graphite concentrate, with initial test results indicating that it has met all specifications and quality requirements for battery anode material production.... 

Vale reports coal prices down, although costs also fell, in the second quarter

By: Keith Campbell Brazilian mining major Vale is of the opinion that the global metallurgical (or coking) coal market “may remain oversupplied throughout the year despite some slight production decrease from US producers in 2015”. In its report Vale’s Performance in 2Q15, the miner surveyed the state of the... 

Moody's sees wider budget deficit for Botswana

By: Reuters Botswana's projected 2.6% budget deficit for the 2015/16 financial year could turn out to be much wider due to the downturn in the diamond market, credit rating agency, Moody's said on Thursday. Diamonds account for almost 40% of Botswana's budgetary revenue and around 85% of exports in dollar... 

Moody's sees wider budget deficit for Botswana

M&R holds line on resources-focused strategy despite commodity meltdown

By: Terence Creamer Engineering and construction group Murray & Roberts (M&R) says it has no intention of shifting its strategy away from the international natural resources market, notwithstanding the prevailing weak climate for commodities and a bleak immediate outlook. Speaking to investors on Thursday, CEO Henry... 

M&R holds line on resources-focused strategy despite commodity meltdown

Afrox retains R70m Amplats contract

By: Megan van Wyngaardt South African welding and gas company Afrox has again been contracted to supply mining giant Anglo American Platinum (Amplats) with its compressed gases requirements for the next five years. The contract was valued at R70-million, with gas suppllied to all Amplats operations in Rustenburg and... 

Pan African yet to determine impact of IFM SA business rescue

By: Megan van Wyngaardt JSE-listed Pan African Resources’ wholly-owned Phoenix Platinum Mining subsidiary will work closely with the business rescue practitioner for International Ferro Metals’ South African subsidiary to ensure that Phoenix’s interests are safeguarded. London-listed IFM on Wednesday announced that its... 

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/€ = 14.93Change: -0.01
R/$ = 13.28Change: 0.03
Au 1137.59 $/ozChange: 3.84
Pt 1008.00 $/ozChange: -4.00
 
Subscribe Now for $96
Subscribe Now for $96 Close