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Tanzania's gold output rises in 2014, snaps two-year decline

By: Reuters     Updated 36 minutes ago Tanzania's gold output edged up 1.26% in 2014 to 1.27-million ounces, snapping a two-year decline, government data showed on Friday. Tanzania is Africa's fourth-biggest gold producer after South Africa, Ghana and Mali and gold exports are a key source of foreign exchange. Export earnings however... 

Zimbabwe's first-quarter gold production up 25%

By: Reuters     Updated 2 hours 35 minutes ago Zimbabwe's gold production rose 25% to 4 180 kg in the January-March quarter after small gold milling companies increased output, the country's chamber of mines said on Thursday. The chamber projected gold production for the year as a whole of 16 721 kg, up 8.7% from last year. 

From mines to hospitals to mortuaries – yet another use for SA’s Lodox scanner

By: Irma Venter     Updated 2 hours 39 minutes ago Within a decade conventional invasive autopsies may be a rarity, says head of the Department of Forensic Medicine at the University of Pretoria (UP), Professor Gert Saayman. Instead, pathologists will use imaging technologies to conduct virtual post-mortems. 

 From mines to hospitals to mortuaries – yet another use for SA’s Lodox scanner

First copper from DRC-China deal due by year end – govt

By: Reuters     Updated 3 hours ago A joint venture between Democratic Republic of Congo's (DRC's) State miner and two Chinese companies, signed under a 2009 "minerals for infrastructure" deal, will begin producing copper before the end of 2015, the DRC's government said on Thursday. Under the deal Chinese companies pledged to... 

NUM union wants 84% pay increase for gold workers

By: Reuters     Updated 3 hours ago South Africa's National Union of Mineworkers (NUM) will push for an 84% rise in basic pay for entry-level gold mining workers, a near 10 percentage-point increase on previous demands, according to documents obtained by Reuters on Thursday. They show that the NUM, which represents 57% of the... 

NUM union wants 84% pay increase for gold workers

Australian miners progressing Mozambique projects

By: Keith Campbell Australian Securities Exchange-listed miner Triton Minerals has announced that it had created two binding joint venture (JV) projects with specialist Chinese graphite products business Yichang Xincheng Graphite Company (YXGC). Triton is currently developing the Ancuabe, Balama North and Balama... 

Botswana defers copper tax to support struggling producers

By: Reuters Botswana will defer for one year the payment of a three percent royalty tax to support copper producers during a period of weak global demand and to avoid job losses, Minerals Minister Kitso Mokaila said on Thursday. Copper producers in Botswana include AIM-listed African Copper and Discovery... 

Ncondezi CEO departs

By: Megan van Wyngaardt Aim-listed coal miner Ncondezi Energy CEO Paul Venter will soon step down from his position, as well as his role as executive director. He will be replaced by the company’s current COO Chris Schutte. Venter’s reason for leaving as well as his date of departure was not divulged. The company also... 

Avocet production down partly owing to strike

By: Megan van Wyngaardt Aim-listed Avocet Mining produced 17 011 oz for the first quarter of the year, at a cash cost of $1 113/oz. This was lower than the company’s fourth quarter 2014 results, when it produced 19 503 oz at a cash cost of $1 052/oz, owing to a number of factors. Ore milling at the company’s Inata mine,... 

How would the JSE approach a possible partial Eskom listing?

By: Terence Creamer Following confirmation that the National Treasury was indeed considering private-investment options for Eskom, as well as an indication from African National Congress (ANC) secretary-general Gwede Mantashe that a “Chinese” model could be considered, which would allow for a portion of the power... 

How would the JSE approach a possible partial Eskom listing?

South32 shares rise on JSE debut

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about South32's listing on the Johannesburg Stock Exchange. 

South32 shares rise on JSE debut

Afrimat's newer industrial minerals, traditional aggregates continue to perform

By: Megan van Wyngaardt JSE-listed Afrimat has reported a 5.1% increase in revenue to R1.99-billion for the year ended February, while its profit after tax soared by 22.9% to R200-million. On Thursday the openpit mining and materials company advised that, as in the prior year, the group benefited from the strong... 

Afrimat's newer industrial minerals, traditional aggregates continue to perform

Rich world should help emerging countries cut pollution – Glencore's Hayward

By: Reuters Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to... 

Rich world should help emerging countries cut pollution – Glencore's Hayward
Photo by Bloomberg
Glencore chairperson Tony Hayward

Glencore's Zambia mining unit completes refinery upgrade

By: Reuters Zambia's Mopani Copper Mines (MCM) owned by Glencore said on Thursday it had completed upgrading a copper refinery at cost of $74-million seven months ahead of schedule. Mopani said in a statement that the completion of the upgrades at the Mufulira refinery located 385 km (239 miles) north of the... 

De Beers inviting bids for life-extending takeover of Kimberley Mines

By: Martin Creamer South Africa’s De Beers Consolidated Mines (DBCM) on Thursday announced its intention to dispose of its Kimberley Mines as a going concern by competitive tender to a new owner able to extend the life of the historic operations beyond 2018 and preserve 650 jobs in the process. The current... 

De Beers inviting bids for life-extending takeover of Kimberley Mines
Photo by Duane Daws
Phillip Barton

Goldstone zeroes in on strong prospects at Homase/Akrokerri project

By: Natasha Odendaal Following the completion of an auger geochemistry sampling programme, Aim-listed Goldstone Resources will narrow its exploration focus at its Ghana-based Homase/Akrokerri gold project to two prospects that hold immediate promise of adding to its existing resource. The company noted on Thursday... 

Gem Diamonds encouraged by Lesotho, Botswana progress

By: Natasha Odendaal Despite a “noticeably weaker” first-quarter market, the first three tenders in 2015 for the flagship Letšeng mine, in Lesotho, had generated prices comparable to that of the three tenders in the final quarter of 2014, London-listed Gem Diamonds CEO Clifford Elphick said on Thursday. Providing a... 

Bushveld makes offer for Madagascar-focused Lemur

By: Esmarie Swanepoel ASX-listed junior Lemur Resources has received an off-market takeover bid from Aim-listed Bushveld Minerals, valuing the company at A$10.87-million. South Africa-focused Bushveld Minerals is offering Lemur shareholders 6c in cash for every share held. The offer represents a 3.45% premium to... 

More than two-thirds of megaprojects face cost overruns – EY report

By: Esmarie Swanepoel New research by Ernst & Young (EY) has found that despite the significant cost cutting in the resources sector globally, multi-billion dollar projects were still plagued by cost overruns. In its ‘Opportunities to Enhance Capital Productivity’ report, EY found that an average budget overrun of... 

Resources Watch

By: Creamer Media Reporter This week: A premium should be placed on the reputational risks to the diamond sector. State miner aims to increase output by the end of the year. And, the DMR’s new fatigue-monitoring code of practice is welcomed. 

Resources Watch

First Quantum launches equity offering of up to C$1.44bn

By: Henry Lazenby Base metals producer First Quantum Minerals on Wednesday announced that it planned to raise up to C$1.44-billion through a common share equity offering. The TSX- and LSE-listed company said it intended to use the net proceeds of the offering to advance and expand existing production facilities,... 

B2Gold secures $350m revolver

By: Henry Lazenby Triple-listed gold producer B2Gold has secured a new $350-million revolving credit facility (RCF) with a syndicate of international banks to repay its existing $200-million RCF, of which $125-million had been drawn as at March 31, and for general corporate purposes. B2Gold, with operations and... 

BHP Billiton resolves ‘bribery’ allegations

By: Megan van Wyngaardt The investigations into BHP Billiton’s previously terminated minerals exploration and development efforts, as well as hospitality provided by the mining giant at the 2008 Beijing Olympic Games, has been concluded by the US Securities and Exchange Commission (SEC) and the US Department of Justice.... 

Jewellers back to black with rhodium, ruthenium

By: Reuters Ice-white platinum has long had enduring appeal in jewellery and experimental designers are now also turning to its lesser-known sister metals rhodium and ruthenium to produce work in darker hues. The deep gunmetal finish of black rhodium plate and the pure black of ruthenium are both becoming... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot

By: Martin Creamer The Chamber of Mines of South Africa on Wednesday revealed a strategic plan to get South Africa’s “great mining industry” back on the front foot. Speaking at the well-attended 125th annual general meeting (AGM) of the historic organisation, chamber president Mike Teke – who was re-elected for a... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot
Photo by Duane Daws
Chamber president Mike Teke (right) having a word with his vice-president Graham Briggs.

EU lawmakers seek ban on 'blood metals' in surprise vote

By: Reuters The European Parliament voted on Wednesday to ban all products that contain "blood metals" sold by African warlords, but the legislation is likely to be blocked by EU governments who fear it would impose an unrealistic burden on business. The surprise result marked a defeat for the pro-business... 

Benefits of turnaround initiatives starting to emerge – Infrasors

By: Megan van Wyngaardt JSE-listed Infrasors on Wednesday said its turnaround initiatives were bearing fruit, with headline earnings for the year ended February 28 up 70% to R16.38-million, compared with R9.63-million in the prior financial year. Revenue rose 3% year-on-year to R337.3-million. 

Benefits of turnaround initiatives starting to emerge – Infrasors

Lonmin reports fatality at Hossy shaft

By: Creamer Media Reporter A Lonmin employee has died of his injuries following a vehicle accident at the Hossy shaft. The platinum miner on Wednesday said the accident had occurred on Tuesday morning and that a full investigation into the incident was under way. “I am sure everyone at Lonmin shares my distress at the loss... 

Xtract gets major discount on O’Kiep acquisition

By: Megan van Wyngaardt Aim-listed Xtract Resources has successfully renegotiated the deed of assignment for the acquisition of the O'Kiep copper sulphide tailings project, in the Northern Cape, which would result in a reduced cash payment of $2.88-million, a 28% reduction from the initial $4-million payment. Xtract... 

Xtract gets major discount on O’Kiep acquisition
Photo by Duane Daws
CEO Jan Nelson

CRG to raise operating cash through new placing

By: Megan van Wyngaardt To strengthen its balance sheet, while providing working capital to undertake continued surface mining operations and a programme of plant upgrades and efficiency processes, dual-listed gold producer Central Rand Gold (CRG) will seek to raise £600 000 through the placing of 2.55-million new... 

CRG to raise operating cash through new placing

Botswana looking to diversify economy though energy developments

By: Megan van Wyngaardt Botswana Oil (BOL), which was established in October, has, together with the Botswana government, called for expressions of interest (EoI) for an in-house technical adviser to assist in the development of the landlocked country’s oil and gas sector. BOL was tasked with ensuring the security of... 

Botswana looking to diversify economy though energy developments
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