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Africa
 
DEBT FINANCING

First Quantum inks, draws down $2.5bn loan

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Base metals miner First Quantum Minerals on Tuesday reported that it had signed and drawn down on its $2.5-billion five-year term loan and revolving facility. The facility consisted of a $1-billion term loan facility with a margin of 2.75%,...
15th April 2014
 
 
BASE METALS

Ivanhoe Mines expands Kipushi zinc and copper zones

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Africa-focused project developer Ivanhoe Mines on Tuesday reported that early results from the company's underground diamond-drilling programme at the Kipushi copper/zinc/germanium/lead/precious-metals mine, in the Democratic Republic of Congo...
15th April 2014
 
 
MINING FUNDS

Aureus to raise £15.6m

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Aim- and ASX-listed Aureus Mining on Tuesday entered into an underwriting agreement with GMP Securities, Clarus Securities and Numis Securities to sell 33.4-million shares at £0.27 apiece to raise £9-million gross proceeds. The company also...
15th April 2014
 
 
GAS

Development of UCG industry gains momentum as govt reveals policy stance

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Majuba Regulations governing the application for and awarding of prospecting rights and mining rights for underground coal gasification (UCG) in South Africa have been included in the Mineral and Petroleum Resources Development Act (MPRDA) Amendment...
15th April 2014
 
 
COPPER

Weatherly Namibia mine to cost 10% less

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London-listed Weatherly International reported on Tuesday that the development of its flagship Tschudi opencut copper project, in Namibia, would likely cost 10% less than was stated in the 2012 bankable feasibility study (BFS). The BFS, which was...
15th April 2014
 
 
GOLD

Much more to come in China’s already ‘breathtaking’ gold story

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The scale, scope and speed of the development of the gold market in China to date has been “quite breathtaking” – and there is still a lot more to come, World Gold Council investor relations manager John Mulligan indicated on Tuesday...
15th April 2014
 
 
WAGE NEGOTIATIONS

AMCU opens ‘strike fund’ for members, calls for donations

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AMCU president Joseph Mathunjwa Labour union the Association of Mineworkers and Construction Union (AMCU) has opened a ‘”strike fund” for its striking members in the platinum belt, appealing for donations from the State, trade unions, interest groups, nongovernment...
15th April 2014
 
 
PLATINUM

Sibanye Gold eyes platinum acquisition by end this year – paper

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Sibanye Gold CEO Neal Froneman South Africa's Sibanye Gold aims to make a "material" acquisition in platinum mining by the end of this year as it seeks to diversify its business, its chief executive said in a newspaper interview on Tuesday. Sibanye has already signalled it...
15th April 2014
 
 
MINING & ICT

Exxaro implements output management solution for maintenance

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Mining group Exxaro has tasked integrated information and communications technology solutions and services provider Datacentrix with rolling out a document management system for plant maintenance. The mining group, in line with Department of...
15th April 2014
 
 
LEGISLATIVE ENVIRONMENT

Macua calls for Zuma to send MPRDA back to Parliament

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President Jacob Zuma Mining Affected Communities United in Action (Macua) is calling on President Jacob Zuma to send the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill back to Parliament for proper community participation, the organisation...
15th April 2014
 
 
DIVERSIFIED MINER

Rio Tinto posts strong Q1 results, ramping up Pilbara output to 290Mt/y

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Mining giant Rio Tinto has again set a new production benchmark at its iron-ore operations in the Pilbara, as it ramped up towards capacity of 290-million tonnes a year. “Rio Tinto has started the year with a series of performance records as we...
15th April 2014
 
 
GOLD

Strong demand from gold-hungry China in next 4 years – World Gold Council

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Private sector demand for gold in China is poised to increase by 25% from the current level of 1 100 t/y to at least 1 350 t/y by 2017, the World Gold Council (WGC) said on Tuesday. Last year saw China become the world’s largest gold market...
15th April 2014
 
 
 
 
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Africa Multimedia
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Underground coal gasification has key... Audio
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