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Stratmin lifts plant output rates at Madagascar graphite play

By: Natalie Greve London-listed graphite production and exploration company Stratmin Global Resources has successfully completed the second stage of plant optimisation at the Madagascar-based Loharano operation, increasing production rates to up to to 900 kg an hour of refined graphite. The company said on Monday... 

Universal Coal draws on R285m facility

By: Creamer Media Reporter ASX-listed Universal Coal has strengthened its cash position and shifted its project finance debt facilities to more favourable terms following a drawdown of its R285-million Kangala finance facility with Investec Bank. The drawdown, which effectively replaced the previous project finance debt... 

US gold coin sales soar, turnover up twofold in China

By: Martin Creamer Eagle gold bullion coin sales were up fourfold-plus in the US in July and gold volumes up twofold-plus on the Shanghai Gold Exchange, Mitsubishi Corporation International noted on Monday. Last month the US Mint sold 170 000 oz, the highest number of coins in more than two years, government data... 

US gold coin sales soar, turnover up twofold in China
American Eagle gold coins

Armadale targets H1 production start for DRC project

By: Megan van Wyngaardt A review of metallurgical testwork has supported the development of a planned process route for gold recovery at the 678 000 oz Mpokoto gold project, in the Democratic Republic of the Congo, developer Armadale said on Monday. The project would be developed in two phases, with the first phase... 

Zimplats boosts 4E metal output but posts 40% slip in Q4 revenue

By: Natalie Greve After successfully increasing the ore mined across its operations by 19% quarter-on-quarter to 1.48-million tons for the three months ended June 30, platinum miner Zimplats has lifted the production of platinum, palladium, gold and rhodium (4E) metal-in-concentrate by 12%, delivering 119 427 oz... 

Some members of South Africa's NUM union reject wage offer – union source

By: Reuters Some members of South Africa's National Union of Mineworkers (NUM) rejected a pay hike of up to 17% by gold producers, a union source said on Monday, raising the threat of a sector-wide fallout after another union spurned the same offer. Some members of NUM, the biggest union in the gold sector... 

WCP partners review capex, secure water supply agreement

By: Megan van Wyngaardt JSE-listed Firestone Energy is conducting an optimisation study to review its joint venture Waterberg Coal Project’s (WCP’s) capital requirements, to enhance the viability of the four-million-ton-a-year thermal coal project. The WCP partners – Firestone and ASX-listed Waterberg Coal – were... 

Lonmin reports fatality at JV Pandora E3 shaft

By: Creamer Media Reporter A winch driver, who was injured in a scrapping and rigging accident at the Pandora E3 shaft in May, died of his injuries on Friday. Bonisile Mapango had spent the last two months in the intensive care unit of a hospital. 

Gold struggles after worst month in two years

By: Reuters Gold steadied not far above a 5-1/2-year low on Monday, struggling to scale higher at the start of the month after its deepest loss in two years in July, as expectations for a near-term hike in US interest rates kept sellers nearby. Gold's rout deepened last month as the dollar strengthened after... 

Edenville raises £250 000 for Rukwa

By: Megan van Wyngaardt Aim-listed Edenville Energy placed 500-million new ordinary shares of 0.02p apiece to raise funds to complete the mining licence application process for its Rukwa coal project, in Tanzania, as well as moving discussions with interested partnership groups forward. The company also placed... 

Canada's First Quantum Minerals to lay off 1 480 workers in Zambia

By: Reuters Canada's First Quantum Minerals will lay off about 1 480 workers at one of its Zambian copper projects after a reduction in its power supply curbed production, the company's local subsidiary said on Sunday. "Regrettably a reduction of approximately 1 480 construction jobs will be brought forward... 

South Africa's AMCU union rejects wage hike from gold producers – spokesperson

By: Reuters Members of South Africa's Association of Mineworkers and Construction Union (AMCU) on Sunday rejected a wage offer from gold producers of increases of up to 17%, spokesperson Manzini Zungu said. Gold firms Sibanye Gold and AngloGold Ashanti last week offered an additional R1 000 rand ($80) a... 

Zambian villagers to take on mining firm Vedanta in UK court

By: Reuters British mining company Vedanta Resources faces legal action in London's High Court after a group of Zambian villagers said their water source and farmland was polluted by the firm's copper mining operations. Vedanta owns a 79.4% stake in Zambia's Konkola Copper Mines, which was also named by... 

Syrah raises A$211m to fund Balama construction

By: Esmarie Swanepoel Graphite developer Syrah Resources on Monday announced a A$211-million capital raise to fund the development of its Balama project, in Mozambique. The company would raise the funds through an institutional placement and pro rata renounceable entitlement offer, which have both been fully... 

PotashCorp remains resolute to buy German rival, pares outlook

By: Henry Lazenby Canada’s Potash Corporation of Saskatchewan (PotashCorp) has reiterated its intentions to buy German rival K+S, saying it is prepared to make binding commitments to motivate its target’s management, which has so far rebuffed the unsolicited offer.  PotashCorp president and CEO Jochen Tilk told... 

PotashCorp remains resolute to buy German rival, pares outlook

‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

By: Terence Creamer Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for used public infrastructure... 

‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

Nevsun lowers 2015 guidance

By: Natasha Odendaal TSX- and NYSE-listed Nevsun Resources on Friday revised its 2015 production guidance downwards to 140-million to 150-million pounds of copper owing to unplanned plant stoppages during the first half of the year. Output from the Vancouver-headquartered firm’s Bisha mine, in Eritrea, had been hit... 

Mining boom bolsters explosives, chemicals markets – research firm

By: Megan van Wyngaardt The rapid growth of Africa’s mining industry, and particularly in Central Africa, is being mirrored in the mining explosives and chemicals market, research firm Frost & Sullivan reports. Through new analysis, the firm has found that almost 65% of major and minor mining firms in the region... 

SocGen says miners' output costs have dropped more than expected

By: Reuters Miners' output costs have dropped more than industry consensus due to lower energy prices and weak emerging market currencies, a report by Societe Generale showed, suggesting metals prices have further to fall before miners are forced out of business. The prices of many metals are still around... 

Gold miners expect feedback on final wage offer by next week

By: Megan van Wyngaardt Representative unions in the gold mining industry – the Associations of Mineworkers and Construction Union, the National Union of Mineworkers, Solidarity and UASA – are expected to revert back to the Chamber of Mines (CoM) in the next week, on whether their members accept gold producers’ final... 

Gold miners expect feedback on final wage offer by next week

Peak Resources sees bright future for Tanzania magnet metals project

By: Chanel de Bruyn A focus on high-value rare earths and the use of a tailor-made beneficiation process bodes well for Tanzania-focused Peak Resources. The ASX-listed company is developing the Ngualla rare earths project, which contains high-grade neodymium and praseodymium mineralisation. 

Peak Resources sees bright future for Tanzania magnet metals project

Mashile-Nkosi chosen as business leader of the year

By: Natasha Odendaal Kalagadi Manganese executive chairperson Daphne Mashile-Nkosi has been recognised for her business acumen and ability to execute successful business strategies. She was this week bestowed the 2015 Africa Female Business Leader of the Year Award and a special commendation award by Pan-African... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) signalled on Friday that it was aiming to reopen historically fraught iron-ore pricing negotiations with Kumba Iron Ore, with CEO Paul O’Flaherty describing the current cost-plus arrangement as unsustainable in light of dramatic declines in... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba
Photo by Duane Daws
ArcelorMittal South Africa CEO Paul O’Flaherty

Lace underground tunnel development slower than planned

By: Megan van Wyngaardt Underground tunnel development at Southern Africa-focused diamond developer DiamondCorp’s Lace diamond mine, in the Free State, is proceeding slower than planned, owing to fractured ground close to old workings; however, the development work in the Upper K4 (UK4) block remains close to schedule... 

South Africa's ArcelorMittal reports wider H1 loss

By: Reuters Africa's largest steelmaker ArcelorMittal South Africa said on Friday its half-year losses widened amid lower international demand and a weak economy in its home market. Its headline loss per share rose to nearly 25 cents per share for the six months ended 30 June from 2 cents a year earlier, the... 

South Africa's ArcelorMittal reports wider H1 loss
Photo by Duane Daws
Newcastle Works

Kipoi debottlenecking to raise output to 32 500 t/y

By: Esmarie Swanepoel A study for the debottlenecking of the Kipoi solvent extraction and electrowinning (SX-EW) plant, in the Democratic Republic of Congo, has revealed that copper production could be increased from the nameplate capacity of 25 000 t/y to 32 500 t/y. Project owner Tiger Resources on Friday said the... 

Zambia's CEC delays plan to cut power supply to mines

By: Reuters Zambia's power supplier Copperbelt Energy Corp. (CEC) has delayed a plan to reduce electricity to mines after mining firms warned they would have to close processing plants and shed jobs, an industry official said on Friday. Zesco Ltd., the main power generating firm in Africa's No. 2 copper... 

Clear policy guidelines will eliminate confusion between artisanal and illegal mining

By: Zandile Mavuso While artisanal and small-scale mining (ASM) plays a fundamental role in the South African economy, as it helps reduce poverty and creates jobs for rural communities, the artisanal mining aspect has been labelled as illegal. This is because of the blurred delineation of artisanal and illegal... 

Clear policy guidelines will eliminate confusion between artisanal and illegal mining

Mozambique’s new coal export route will start operations soon

By: Keith Campbell The new coal export terminal at the port of Nacala-a-Velha in Mozambique’s Nampula province should load its first ship in August. That was reported last week by Corredor Logístico de Nacala (CLN – Nacala Logistics Corridor) director José Otoni. This represents a delay of eight months in... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani 

By: Terence Creamer In a hard-hitting address, Anglo American CEO Mark Cutifani lamented the decline in the competitiveness of South Africa's mining industry and warned that the “trust deficit” between government, the industry and labour would need to be urgently overcome if the country and the sector were to... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani
Photo by Duane Daws
Mark Cutifani

Zimbabwe to cut royalty fees levied on small gold mines – finmin

By: Reuters Zimbabwe will reduce royalties levied on small-scale gold producers to 1% from 3% from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. In a half-year budget presentation to parliament, Chinamasa said deliveries of gold from small scale producers had... 

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