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Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Gold miners bring new offer to the table

By: Natasha Odendaal South Africa’s gold mining companies on Monday tabled a five-year offer that would see their employees benefit from an upside in the industry, with some fringe benefits to alleviate employee indebtedness and improve housing. Gold companies AngloGold Ashanti, Evander Gold Mines, Harmony Gold,... 

Minemakers appoints joint advisers

By: Tracy Hancock To ensure that interested parties in Australia, Asia, the US and the UK are fully aware of developments at Minemakers, the junior mining company has engaged Foster Stockbroking and EAS Advisors on a nonexclusive basis to act jointly as its marketing and corporate advisers. The joint appointment... 

New report outlines value of copper exploration

By: Megan van Wyngaardt When looking at global exploration budgets for copper, which reached $11-billion in 2010, it is evident that the ferrous metal carries perennial importance, mining analysis company SNL Metals & Mining says in its Copper Discoveries 1990-2014 report, released on Monday. “After almost doubling by... 

New report outlines value of copper exploration

Afarak to start Vlakpoort production in 2016

By: Megan van Wyngaardt Chromite miner Afarak Group has started bulk sampling at its Vlakpoort openpit mine, in South Africa. The dual-listed company on Monday reported that it expected the project to ramp up to full production in 2016, with measured, indicated, and inferred resources estimated at 1.9-million tonnes of... 

Chamber of Mines’ Sangqu appointed to Kumba board

By: Natasha Odendaal Anglo American South Africa executive head Andile Sangqu has been appointed as a nonexecutive director of Kumba Iron Ore, effective Monday. Representing shareholder Anglo American, the current Chamber of Mines VP would serve as a member of Kumba’s risk committee and the social, ethics and... 

Nersa says door still open to Eskom after rejecting further 2015 tariff hike

By: Terence Creamer The National Energy Regulator of South Africa (Nersa) on Monday rejected Eskom’s application for a further 2015/16 tariff hike in addition the 12.69% already granted for the year. Nersa chairperson Jacob Modise announced that, owing to a number of deficiencies in the application, the regulator... 

Nersa says door still open to Eskom after rejecting further 2015 tariff hike
Photo by Duane Daws
Nersa panel member Thembani Bukula and chairperson Jacob Modise

Gold climbs as fears over Greece knock stocks, euro

By: Reuters Gold rose on Monday as growing fears over the prospect of a Greek debt default battered European shares and weighed on the euro, but it failed to maintain early sharp gains as investors remained wary of its longer-term outlook. European shares tumbled more than 2% and the single currency slid as... 

Savannah raises £550 000 to advance Moz JV

By: Natalie Greve Aim-listed Savannah Resources has raised £550 000 through the placing of 21.9-million new ordinary shares at a placing price of 2.5p apiece with both new and existing investors, it said on Monday. CEO David Archer said in a statement that the funding would be directed towards progressing the... 

Growth, productivity headwinds biggest threats to mining – EY

By: Natalie Greve Procyclical behaviour and short-term focused shareholders have pushed the “switch to growth” to the top of EY’s ranking of business risks facing mining and metals companies globally, the professional services firm revealed in a report released on Monday. The ‘Business risks in mining and metals... 

Growth, productivity headwinds biggest threats to mining – EY

Wallbridge looking to advance Parkin

By: Megan van Wyngaardt TSX-listed Wallbridge Mining is working to attract new partner financing to advance its nickel, copper and platinum-group metals Parkin properties project, in Ontario, following mechanical stripping and fieldwork. The miner noted on Friday that the fieldwork exposed six areas with massive,... 

Congo broke transparency rules with mine sale to Glencore unit – IMF

By: Reuters Congo's government breached its own regulations and the terms of an agreement with the World Bank by failing to disclose the sale of State shares in a joint mining venture, the International Monetary Fund (IMF) said on Friday. Swiss trading house Glencore said this week its Congo joint venture... 

Congo broke transparency rules with mine sale to Glencore unit – IMF

Burkina Faso parliament adopts new mining code

By: Reuters Burkina Faso's transitional parliament passed a new mining code on Friday that abolishes a previous 10% tax break on mining company profits and obliges firms to pay into a local development fund. The adoption of the new code, which replaces 12-year-old mining regulations, was among requirements... 

MRI to acquire 39.2% share in metallic iron producer

By: Natalie Greve Building on its strategy to provide “innovative” mine rehabilitation and restoration solutions, JSE-listed Mine Restoration Investment’s (MRI) has announced its intention to acquire up to 39.2% in metallic iron producer Iron Mineral Beneficiation Services (IMBS) for R224.48-million. In terms of a... 

NUM welcomes further investigation recommendation, defends member actions

By: Natasha Odendaal After reviewing the outcomes of the Farlam Commission of Inquiry into the events that led to the death of 34 miners at the hands of police near the Marikana mine, in Rustenburg, in 2012, the National Union of Mineworkers (NUM) has welcomed the commission’s recommendation for further... 

NUM welcomes further investigation recommendation, defends member actions

Marikana commission findings to be implemented – Zuma 

By: African News Agency Government would start implementing the recommendations of the Farlam commission of inquiry on the Marikana shooting, President Jacob Zuma said at the 60th commemoration of the Freedom Charter in Kliptown, Soweto on Friday. ”Work would begin to implement the recommendations of the report, so that... 

Marikana commission findings to be implemented – Zuma
Photo by Duane Daws
President Jacob Zuma

Rio Tinto to sell stakes in Zim diamond, coal assets

By: Creamer Media Reporter Diversified major Rio Tinto has sold a 78% stake in Murowa Diamonds and a 50% stake in Sengwa Colliery to RZ Murowa Holdings. Independent Zimbabwean mining company RioZim, which owned the balance of the two assets, would assume overall management of both assets. 

Aquarius secures first tranche in Everest mine sale

By: Natasha Odendaal JSE-listed Aquarius Platinum on Friday said it had received the first payment from the sale of its Everest mine to Northam Platinum. The Part A R400-million payment for the concentrator and other mining assets of Everest mine was concluded on Friday, with the R50-million balance, securing the... 

Sibanye boosts its financial assistance programmes for employees

By: Natasha Odendaal Gold miner Sibanye has increased the level of its debt management and financial awareness assistance to debt-burdened employees. The Johannesburg- and New York-listed company would, from the end of June, provide employees with individualised financial coaching and an option to consolidate their... 

Hummingbird raises funds to advance Mali mine development

By: Megan van Wyngaardt West African gold exploration and development company Hummingbird Resources has entered into a subscription agreement to raise £500 000, before expenses, to advance its Yanfolila gold project, in Mali, to near-term production and for working capital purposes.  The Aim-listed company would raise... 

Commission of Inquiry into the Marikana massacre – outcomes

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about the outcomes of the Farlam Commission of Inquiry into the Marikana massacre. 

Commission of Inquiry into the Marikana massacre – outcomes

Proposed European law to intensify war against conflict minerals

By: Anine Vermeulen If implemented, the proposed European Union (EU) conflict minerals legislation will help make responsible sourcing a natural part of doing business in areas struggling with conflict or instability, nongovernmental organisation Global Witness conflict minerals campaigner Emily Norton says. The... 

Proposed European law to intensify war against conflict minerals

Guinea signs infrastructure sharing agreements with two miners

By: Reuters Guinea and its state miner have signed infrastructure sharing agreements with two of the country's leading mining companies in an effort to accelerate development of large-scale bauxite projects, a government official and one of the companies said. The accords, hammered out during negotiations in... 

Zambia tells Vedanta unit to delay processing Chilean copper

By: Reuters Zambia has asked Vedanta Resources' Konkola Copper Mines (KCM) to delay the processing of copper concentrate it imported from Chile until it puts in place safety measures to avoid pollution, Zambia's deputy minister of mines said on Thursday. KCM said on June 3 it had imported its first... 

Mozambique seeks to facilitate miners great and small

By: Keith Campbell Mozambican President Filipe Nyusi has urged the country’s informal miners to organise themselves into associations, to help them overcome the difficulties they face. He was addressing informal miners at Montepuez in Cabo Delgado province in the north of the country. Associations would also reduce... 

Farlam finds against Lonmin, recommends enforced housing delivery 

By: Martin Creamer The Farlam Commission of Inquiry into the Marikana massacre has found against platinum-mining company Lonmin on five counts and has urged the Department of Mineral Resources to compel the London-listed company to provide housing for mineworkers in what arguably ranks as the inquiry's most... 

Farlam finds against Lonmin, recommends enforced housing delivery
Photo by Duane Daws
President Jacob Zuma

Kenya eyes domestic gas, coal for new power plants

By: Reuters Kenya aims to decide by the end of 2015 whether a gas discovery in the north of the country could fuel a power plant and wants to start using its own coal in about six years' time for a power station being built, a senior energy official said. Kenya, which has struggled to keep the country... 

Kenya eyes domestic gas, coal for new power plants

Rockwell to focus on production profile as Saxendrift output decreases

By: Megan van Wyngaardt As dual-listed Rockwell Diamonds’ Saxendrift mine nears the end of its economic life, the miner will now focus on rebuilding the production profile at its existing Middle Orange River (MOR) operations, redeploying assets to newly acquired operations and expediting work on development projects.... 

Carpathian to cut output at Brazil mine amid water shortages

By: Natalie Greve Carpathian Gold is preparing for a temporary reduction in the levels of mining and processing activities at the Riacho dos Machados (RDM) mine, in Brazil, for the next few months as a result of water shortages. The TSX-listed company explained on Thursday that RDM, which was owned by wholly-owned... 

Portfolio committee, unions welcome Aurora judgment

By: Natasha Odendaal Thursday’s court ruling that the directors of Aurora Empowerment Systems were liable for the damages related to the stripping of assets at the liquidated Pamodzi Gold mines was welcomed by trade unions and the Portfolio Committee on Mineral Resources. Following a protracted legal battle spanning... 

Assore, ARM enter agreements for R450m Dwarsrivier sale

By: Natasha Odendaal Definitive agreements have been inked for Assore’s R450-million buyout of African Rainbow Minerals’ (ARM’s) 50% indirect interest in the Dwarsrivier chrome mine, in Mpumalanga. The deal would see Assore gain full ownership of the mine, which was owned and operated by Assore and ARM’s joint... 

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