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Zambia may be backing off steeper mine royalty rates – Barrick

By: Reuters     Updated 1 hour 51 minutes ago There are indications that Zambia may be backing away from plans to impose a 20% royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday. "Our sense is that the government realizes that the numbers they have imposed will be very challenging for the... 

Unemployment at 25.4%, Stats SA to provide long-term unemployment data

By: Leandi Kolver     Updated 2 hours 28 minutes ago Statistics South Africa (Stats SA) would, in future, focus more strongly on the trends of long-term unemployment in its quarterly labour force surveys (QLFSs), statistician-general Pali Lehola said on Thursday. Releasing the QLFS for the three months ended September 30, Lehohla noted that... 

Unemployment at 25.4%, Stats SA to provide long-term unemployment data

GoldStone shareholders approve Stratex’s 50.1% buyout

By: Natalie Greve     Updated 2 hours 56 minutes ago The shareholders of Aim-listed explorer GoldStone Resources have passed a resolution approving the waiver of obligations on Stratex in connection with Stratex's proposed subscription of £1.25-million worth of shares in GoldStone. As at October 31, Stratex would hold 20.8-million ordinary shares... 

NUM, ARM conclude five-year employee participation fund

By: Natasha Odendaal     Updated 2 hours 57 minutes ago The National Union of Mineworkers (NUM) and Patrice Motsepe’s African Rainbow Minerals (ARM) this week settled drawn-out negotiations over an employee participation fund (EPF). The parties inked a five-year collective EPF that would benefit employees in the A and C bands across all participating... 

NUM, ARM conclude five-year employee participation fund
Photo by Duane Daws
Patrice Motsepe

Sephaku to post H1 earnings loss

By: Natalie Greve     Updated 4 hours ago Sephaku Holdings, which is in the process of finalising its interim results for the six months ended September 30, expects to swing to a basic loss a share of between 1.9c and 2c for the half-year, from basic earnings a share of 3.32c in the first half of the prior year. The headline loss a share... 

Mine Restoration Investments names new FD

By: Natalie Greve     Updated 6 hours ago Mine Restoration Investments (MRI) has appointed FD Anthon Meyer as nonexecutive director and named former Jubilee Platinum group financial manager Carl-Heinz Gernandt as his successor. Gernandt, whose appointment would be effective from December 1, previously held directorship, financial... 

Lemur advances triple-edged strategy, awaits Imaloto IPP licence

By: Natalie Greve     Updated 7 hours ago ASX-listed Lemur Resources continued to advance its three-ponged growth strategy by developing its planned flagship Imaloto coal mine, in Madagascar, exploiting its cash balance to acquire additional assets and leveraging its geoservices equipment and geological capabilities in Africa to earn... 

Lace mine development bruised, but not halted by AMCU strike

By: Natalie Greve Development work and tailings retreatment activities at Southern African diamond developer and explorer DiamondCorp’s Lace diamond mine, in the Free State, is continuing despite a protected strike by members of the Association of Mineworkers and Construction Union (AMCU), which is nearing the end... 

Lace mine development bruised, but not halted by AMCU strike
Lace mine

Enviro permit granted for Nayega manganese project

By: Leandi Kolver Aim-listed iron-ore and manganese developer Ferrex on Thursday announced that the environmental permit for its Nayega manganese project, in Northern Togo, had been granted. The environmental permit set the conditions for the operation of the mine, with Ferrex noting that it was a major milestone... 

Sherritt International posts Q3 loss, cuts into workforce

By: Henry Lazenby TSX-listed nickel and cobalt producer Sherritt International will cut its salaried workforce by 10%, excluding employees at its Ambatovy nickel and cobalt mine, in Madagascar, as part of its company-wide restructuring process. Sherritt, which had started a process to sell its Toronto head-office... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

By: Henry Lazenby The world’s largest gold producer by output, Barrick Gold, experienced narrower net earnings for the quarter ended September 30, as lower gold and copper sales, as well as lower realised prices impacted on its performance. The Toronto-based miner, with operations in North and South America,... 

Barrick Gold reports narrower Q3 profit on lower sales, prices

StratMin raises £800 000 through share placement

By: Natalie Greve Graphite production and exploration company StratMin Global Resources has raised £800 000 through the placing of 11.42-million new ordinary shares of 4p each at a placing price of 7p a share with certain existing and new institutional investors. The placing followed the signing by the company of... 

StratMin raises £800 000 through share placement

Resgen targets Oct 2015 for completion of Boikarabelo power supply infrastructure

By: Natalie Greve Coal asset developer Resource Generation (Resgen) continues to progress the development of its Boikarabelo coal mine, in the Waterberg region. The company said in a report for the three months ended September 30, that construction of the infrastructure for the mine, which boasted probable coal... 

Striking NUM to respond to revised Glencore offer on Thursday

By: Natalie Greve After embarking on a strike at Glencore’s Tweefontein operation over what it claimed were unfair deviations from the company’s standard retrenchment package, trade collective, the National Union of Mineworkers (NUM), will respond to a revised retrenchment settlement offer from the miner at the... 

Miller’s status changed from Firestone CEO to MD

By: Leandi Kolver Coal developer Firestone Energy on Wednesday announced that it had appointed former CEO and executive director Stephen Miller as MD of the company with immediate effect. Firestone said the terms and conditions of Miller’s engagement had not changed with his change of status to MD, which followed... 

Miller’s status changed from Firestone CEO to MD
Photo by Duane Daws
Firestone MD Stephen Miller

IDP review under way to integrate mining towns

By: SANews, SA government news service The Inter-Ministerial Committee (IMC) that was established to revitalise distressed mining towns has mobilised municipalities to review their Integrated Development Plans (IDPs) to pave the way for new-look mining towns.   Mpho Ndaba, the Director: Revitalization of Distressed Mining Communities... 

IDP review under way to integrate mining towns

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt

R1bn set aside for initial Waterberg coal rail ramp-up to 26Mt

By: Terence Creamer State-owned freight logistics group Transnet will invest nearly R1-billion to facilitate an incremental increase in coal export volumes from Limpopo’s Waterberg to 26-million tons between 2015 and 2019. Transnet Freight Rail (TFR) CEO Siyabonga Gama indicated on Wednesday that the “interim”... 

R1bn set aside for initial Waterberg coal rail ramp-up to 26Mt
Photo by Duane Daws
Transnet Freight Rail CEO Siyabonga Gama

SA mining industry will look ‘very different’ in 20 years, says Baxter

By: Natalie Greve South Africa’s mining industry will continue to evolve over the coming decades, eventually transitioning into a mechanised, modernised and automated industry staffed by a highly skilled, well paid and lithe workforce, Chamber of Mines acting CEO Roger Baxter said on Wednesday. Describing the... 

SA mining industry will look ‘very different’ in 20 years, says Baxter
Photo by Duane Daws
Chamber of Mines acting CEO Roger Baxter

Strike-hit Impala’s platinum output down 25%, unit costs up 62%

By: Martin Creamer Strike-hit mining company Impala Platinum (Implats) has produced 25.5% fewer platinum ounces in the three months to September 30 than in the corresponding period last year. In line with reduced platinum production, group unit costs rose 62% to R26 698/oz of platinum, compared with R16 488/oz in... 

Strike-hit Impala’s platinum output down 25%, unit costs up 62%
Photo by Duane Daws
Implats CEO Terence Goodlace

ERPM South Africa finalises funding arrangements for asset acquisition

By: Creamer Media Reporter ERPM South Africa, which is buying the underground mining and prospecting rights held by East Rand Proprietary Mines (ERPM), as well as certain other assets on relating mining areas, from DRDGold’s Ergo Mining Operations subsidiary, has finalised the required funding arrangements to proceed with... 

Transnet grows volumes despite weak economic climate

By: Terence Creamer State-owned freight logistics group Transnet said on Wednesday that double-digit increases in railed automotive and container volumes help lift revenue for the interim period to September 30, 2014, to a record R30.3-billion. Revenue was 6.4% higher period on period, with railed automotive and... 

Transnet grows volumes despite weak economic climate

Trans Hex takes over Namaqua diamond mines from De Beers

By: Martin Creamer The long-awaited acquisition by Trans Hex of the Namaqualand diamond mines from De Beers has become effective. The JSE-listed Trans Hex expects to receive cash flows of R653-million over the life of Namaqualand Mines, which have a resource of between 1.6-million carats and 1.9-million carats that... 

Trans Hex takes over Namaqua diamond mines from De Beers
Photo by Duane Daws
Trans Hex CEO Llewellyn Delport

West African secures funding for Burkina Faso FS

By: Esmarie Swanepoel Dual listed West African Resources has secured a two-year $5-million convertible loan facility from Macquarie Bank to complete its feasibility study of the Mankarga 5 heap leach gold project, in Burkina Faso. The facility would be drawn-down fully by way of a single cash advance, and would be... 

South African gold miner eyes biogas to power underground trains 

By: Reuters A South African gold mining firm trying to cut carbon emissions and costs and improve the health of its workers could be the first globally to fuel trains with biogenic gas formed over millennia deep beneath the ground, one producer said on Tuesday. Molopo South Africa, which holds the country's... 

Karoo fracking could start by mid-2016 

By: Sapa The first exploratory drill head could be biting its way down through Karoo rock in search of shale gas by as early as mid-2016, according to the Mineral Resources department. Speaking to Sapa after briefing MPs on shale gas exploration licences, deputy director general for mineral policy Mosa... 

Karoo fracking could start by mid-2016

AEL leans on coal, iron-ore

By: Natasha Odendaal As strikes in South Africa’s mining space, particularly within underground operations, weigh on AECI during 2014, the JSE-listed group has moved to lean more on the coal and iron-ore sectors to bolster the group’s bottom line. Speaking at an investor day at AECI’s Woodmead offices, on Tuesday,... 

AEL leans on coal, iron-ore
Photo by Duane Daws
AECI CEO Mark Dytor

Motsepe Foundation, ARM donate $1m to Guinea Ebola fund 

By: Leandi Kolver Motsepe Foundation founder and African Rainbow Minerals executive chairperson and founder Patrice Motsepe has donated $1-million to Guinea’s Ebola Fund on behalf of the organisations. This donation, for which regulatory approval was received on Friday, would assist Guinea with clinical... 

Motsepe Foundation, ARM donate $1m to Guinea Ebola fund
Photo by Duane Daws
Patrice Motsepe

Global diamond bodies pull out of WDC meeting amid call for clarity

By: Natalie Greve The World Federation of Diamond Bourses (WFDB), together with seven other major diamond industry umbrella organisations, has announced that it is “regretfully” withdrawing its participation in the upcoming World Diamond Council (WDC) annual general meeting, on October 28, in Antwerp, Belgium. The... 

Premier selects openpit strategy for early production at RHA

By: Natalie Greve Multicommodity explorer Premier African Minerals has outlined what it describes as a low-capital implementation strategy for its 49%-owned RHA tungsten project, in Zimbabwe. The Aim-traded miner said on Tuesday that the assessment of various implementation strategies to enhance project value and... 

Hummingbird targets delivery of Yanfolila optimisation studies by end 2014

By: Leandi Kolver Gold exploration and development company Hummingbird Resources was aiming to deliver the optimisation studies for its Yanfolila project, in Mali, by the end of this year, with construction expected to start in the first quarter of next year. The company on Tuesday announced that an infill and... 

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