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Oakbay lists on JSE

By: Leandi Kolver     Updated 1 hour 23 minutes ago Investment holding company Oakbay Resources and Energy on Friday listed on the JSE’s main board, becoming the sixteenth company to list this year. The company held a 74% interest in Shiva Uranium, previously Uranium One Africa, which focused primarily on uranium and gold deposits with its main... 

Anglo, Eskom seek ‘mutually beneficial’ New Largo outcome

By: Terence Creamer     Updated 2 hours 8 minutes ago Anglo American Inyosi Coal and Eskom “are broadly aligned” regarding Eskom’s empowerment imperatives for the New Largo project, Anglo American coal business in South Africa CEO and Anglo American Inyosi Coal chairperson Themba Mkhwanazi reported on Friday. In a statement released by Eskom,... 

Anglo, Eskom seek ‘mutually beneficial’ New Largo outcome
Themba Mkhwanazi

GoldStone to focus on Homase/Akrokerri project

By: Leandi Kolver     Updated 2 hours 8 minutes ago Following the acquisition of a 33.45% controlling interest in Aim-listed GoldStone by exploration and development company Stratex, GoldStone’s newly constituted board has decided that the company’s exploration efforts going forward would be primarily directed at its Homase/Akrokerri project, in... 

Stellar reports higher Tongo Dyke-1 reserves, diamond grade

By: Leandi Kolver     Updated 3 hours ago Aim-listed Stellar Diamonds on Friday announced a 35% increase in the Joint Ore Reserves Committee- (Jorc-) compliant inferred resource for its 100%-owned Tongo kimberlite Dyke-1 project, in Sierra Leone. The project’s Jorc-compliant inferred resource now stood at 1.45-million carats, with bulk... 

Burkina Faso's transitional government to review mine permits 

By: Reuters     Updated 4 hours ago Burkina Faso's transitional government will review some mine contracts signed under former President Blaise Compaore, responding to concerns that exploration permits were granted in opaque conditions, new mines minister Colonel Boubacar Ba said. Gold is the West African nation's top commodity and... 

Glencore’s new low-cost Tweefontein coal mine coming in below budget

By: Martin Creamer     Updated 4 hours ago The new coal emerging from Glencore’s on-time, 85%-complete, R8.213-billion Tweefontein Optimisation Project (TOP) is coming in under budget. The project has delivered a low-cost, long-life brownfields expansion that has elevated Tweefontein into a modern, predominantly opencast operation that... 

Glencore’s new low-cost Tweefontein coal mine coming in below budget
Photo by Duane Daws
Allen Butcher and Martin Creamer on site at Tweefontein.

Mining houses, other stakeholders in bid to mitigate high levels of indebtedness among workers

By: Zandile Mavuso     Updated 6 hours ago About 6.72% of mineworkers in South Africa have been issued with emolument attachment orders (EAOs), which has resulted in a crisis of indebtedness in the mining sector – a crisis that some believe is one of the major underlying factors of the recent labour unrest and protracted strike action.... 

Mining houses, other stakeholders in bid to mitigate high levels of indebtedness among workers

Kimberley reports Lerala environmental authorisation progress

By: Esmarie Swanepoel     Updated 6 hours ago Diamond developer Kimberley Diamonds has received environmental authorization for its Lerala mine, in Botswana. The Botswana Department of Environmental Affairs has approved and completed the transfer of the previously approved environmental impact assessment from Lerala’s previous ownerDiamond... 

Weekend load-shedding pattern set to continue

By: Terence Creamer     Updated 6 hours ago Electricity utility Eskom has indicated that there is a "high risk" of load shedding over the weekend, entrenching a pattern of rotational power cuts that first emerged after a coal silo collapsed at the Majuba power station at the beginning of November. Weekends, which had hitherto generally... 

Weekend load-shedding pattern set to continue
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Indian miner plans Mozambique power station as study into network is almost complete

By: Keith Campbell Indian company International Coal Ventures Limited (ICVL) has despatched its first shipment of coal from its recently acquired Benga mine in Mozambique to India. This shipment was composed of metallurgical or coking coal and was sent to the Steel Authority of India (SAIL). This was revealed to... 

Competition Commission recommends approval of Anglo American, Samancor transaction

By: Leandi Kolver The Competition Commission on Thursday recommended the approval of the merger that would see mining major Anglo American gain joint control over chrome-ore mining and smelting group Samancor, without conditions. Anglo American already held a 40% stake in Samancor, with mining company BHP Billiton... 

Zimbabwe defers raw platinum tax penalty on companies

By: Reuters Zimbabwe has deferred a 15% tax penalty on mining firms who export raw platinum to 2017, giving the companies time to build refineries in the southern African nation, Finance Minister Patrick Chinamasa said. Presenting the 2015 budget to lawmakers on Thursday, Chinamasa confirmed the government... 

Sustainability reporting on the rise among JSE-listed companies

By: Leandi Kolver This year, 82 companies met the JSE’s Socially Responsible Index (SRI) requirements relating to environmental, social and governance (ESG) policies and management practices, compared with only 72 companies in 2013, as companies become more aware of how they communicate sustainability management... 

Sustainability reporting on the rise among JSE-listed companies

Union urges Eskom to rethink severance packages, focus on rebuilding staff morale 

By: Terence Creamer Trade union Solidarity, which has 7 000 members working at Eskom, is urging the State-owned utility to abandon its voluntary-severance offer to employees and focus instead on rebuilding staff morale as part of a broader effort to improve the currently dire outlook for electricity supply. CEO Dirk... 

Union urges Eskom to rethink severance packages, focus on rebuilding staff morale
Photo by Reint Dykema
Solidarity CEO Dirk Hermann

Shanta to undertake additional drilling at New Luika

By: Creamer Media Reporter East Africa-focused Shanta Gold will undertake 5 000 m of additional drilling to further optimise the bankable feasibility study and decrease the risk profile of the planned life-of-mine (LoM) extension at its New Luika gold mine, in south-western Tanzania. In October, Shanta said it had... 

Glencore invests in Congo hydropower as solution to blackouts

By: Reuters Glencore and its partner in Congo are ploughing $360-million into refurbishing the African nation's main hydroelectric plant as mining companies seek ways to overcome power shortages that are holding back projects. Mining investment has poured into Democratic Republic of Congo since 2006, after... 

Gokona underground mine gets green light, first ore expected H1 2015

By: Natasha Odendaal The final applications to secure permits to start underground mining at the Gokona pit at North Mara, in Tanzania, were set to be submitted after the board of the newly renamed Acacia Mining approved the project’s definitive feasibility study. The gold miner, formerly called African Barrick Gold,... 

Gokona underground mine gets green light, first ore expected H1 2015

Rio and Dominion JV approves $350m Canada diamond investment

By: Esmarie Swanepoel Diversified miner Rio Tinto has given the green light for the development of the fourth pipe, known as A21, at its Diavik diamond mine, in Canada’s Northwest Territories. The A21 pipe development was part of the original mine plan and is estimated to cost $350-million over four years. 

Rio and Dominion JV approves $350m Canada diamond investment

R10bn aluminium supply deal signed with black consortium

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's R10-billion, five-year liquid metal supply contract with Isizinda Alumnium. 

R10bn aluminium supply deal signed with black consortium

Platreef development hit by ‘trouble-makers’

By: Natasha Odendaal The development of the latest major new underground, mechanised platinum mine, near Mokopane, in Limpopo, has been marred by a “small group” of people instigating animosity towards the emerging operation. However, TSX-listed Ivanhoe Mines, led by founder Robert Friedland, on Thursday vowed it... 

Mponeng stoping, development activities halted following fatality

By: Leandi Kolver Stoping and development activities at gold miner AngloGold Ashanti’s Mponeng mine, near Carletonville, have been suspended following the death of an employee. The deceased, a scraper winch operator, had been fatally injured in a fall-of-ground incident on Tuesday. 

Glencore Finance extends, increases Katanga loan facilities

By: Leandi Kolver TSX-listed Katanga Mining on Wednesday announced the execution of extended and increased loan facilities with Glencore Finance. Katanga said the maturity date of its existing term loan facility agreement with Glencore Finance, which had been used to fund, in substantial part, the redemption of... 

Goldman, BASF, HSBC accused of metals price fixing – US lawsuit

By: Reuters Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals. In a complaint filed on Tuesday in the US District... 

Etango heap leach plant construction on track

By: Creamer Media Reporter ASX-listed Bannerman Resources on Wednesday said the construction of its Etango heap leach demonstration plant, in Namibia, was on track for completion early in 2015. The activities completed since awarding the contracts in September included the establishment of the site infrastructure,... 

ABG shareholders approve name change to Acacia Mining

By: Leandi Kolver African Barrick Gold (ABG) shareholders on Wednesday voted in favour of the company’s proposed name change to Acacia Mining, with the new name to come into effect on Thursday. ABG earlier this month explained that its core objective was to develop a business that was recognised as a leading... 

SA coal-related R&D inadequate – ASSAf

By: Leandi Kolver South Africa’s investment in coal-related research and development (R&D) was inadequate, given the fact that coal would continue to dominate the country’s energy supply for the foreseeable future, a recent study by the Academy of Science of South Africa (ASSAf) showed. In its study, titled ‘The... 

SA coal-related R&D inadequate – ASSAf

Forsys reports positive metallurgical results for Namibia project

By: Creamer Media Reporter SGS South Africa has completed a metallurgical study on Namibia-focused uranium explorer Forsys Metals’ Norasa project, which comprises the Valencia and Namibplaas projects. The metallurgical study was a major component of the feasibility study (FS) for the project, which was being prepared by... 

Botswana must diversify – Khama

By: Anine Vermeulen Botswana should focus on establishing a diamond sector that was second to none, President Ian Khama said during the thirteenth Confederation of Commerce, Industry and Manpower in Maun, this week. He noted that the relocation of diamond aggregation and sales to Gaborone, as well as the development... 

Namib DFS shows low risk and robust economics

By: Leandi Kolver The definitive feasibility study (DFS) for Aim-listed North River Resources’ Namib lead/zinc/silver mine, in Namibia, has confirmed that the project is technically low risk and economically robust, the company said on Wednesday. It added that a strong after-tax internal rate of return of more... 

IFM Section 54 notice lifted, 4 000 t of production lost

By: Leandi Kolver International Ferro Metals (IFM) on Wednesday announced that the Section 54 notice for its two ferrochrome furnaces and pelletiser has successfully been lifted following a meeting with the Department of Mineral Resources. The Section 54 notice had been issued last week following a health and... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism 

By: Terence Creamer The Department of Energy (DoE) confirmed on Wednesday that the second nuclear vendor parade workshop, which took place at a venue in the Drakensberg, had been concluded with delegations from China, France, South Korea and the US. The first such workshop, which was also held in the Drakensberg in... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism
Photo by Duane Daws
Professor Anton Eberhard
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