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Africa News

Botswana’s Mowana copper mine applies for provisional liquidation

By: Mariaan Webb     Updated 3 minutes ago Base and precious metals company Cradle Arc has applied for the provisional liquidation of its 60%-owned Leboam Holding subsidiary, which owns the now suspended Mowana copper mine, in Botswana, while talks on alternative funding arrangements continue. The mine is facing significant working... 

This odd couple plots to save $100bn gold mining business

By: Bloomberg     Updated 7 hours ago John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter. Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world’s largest gold-mining company, whose shares are down 67%... 

Platreef Shaft 1 reaches 850 m below surface

By: Creamer Media Reporter      18th December 2018 Shaft 1 at Ivanplats’ Platreef project, near Mokopane ,in South Africa, has reached a depth of 850 m below the surface and work has begun on the 850 m station – the second of three horizontal mining access stations planned for the shaft that is currently under construction. The first mining... 

Zambian revenue authority clears Kagem

By: Creamer Media Reporter      18th December 2018 JSE-listed coloured gemstone miner Gemfields said on Tuesday that the Zambian Revenue Authority (ZRA) had cleared its Kagem mine, following a recent tax investigation. The investigation started in August when the ZRA served two search warrants during an unannounced visit to Kagem. The search... 

Glencore billionaire among directors banned, fined by Canada

By: Bloomberg     18th December 2018 Glencore’s billionaire head of copper trading, Aristotelis Mistakidis, was among executives fined and banned from being a director by Canada after admitting that its Congolese copper and cobalt unit misstated how much metal it mined. Mistakidis, who is retiring from Glencore at the end of this... 

Glencore billionaire among directors banned, fined by Canada

Gold Fields and NUM sign formal agreement ending South Deep strike 

By: Mariaan Webb     18th December 2018 The 45-day strike at Gold Fields’ South Deep mine has officially ended following signing of a formal settlement agreement between the JSE- and NYSE-listed company and the National Union of Mineworkers (NUM). Employees have been returning to work since last Thursday, when the union called off the... 

Gold Fields and NUM sign formal agreement ending South Deep strike
Photo by Creamer Media
The South Deep mine

De Beers’ final sales cycle for 2018 ends on a high

By: Mariaan Webb     18th December 2018 Diamond miner De Beers sold $540-million worth of diamonds in the tenth sales cycle of this year, bringing its total sales for the year to about $5.39-billion. The most recent sight yielded the strongest results for a final sales event in at least three years and compares with $455-million worth... 

Orion shares jump on Prieska resource upgrade

By: Mariaan Webb     18th December 2018 Orion Minerals on Tuesday announced an updated mineral resource for its Prieska project’s total deep sulphide resource, sending the company’s stock on the JSE up nearly 22%. The junior, which is also listed on the ASX, reported a mineral resource of 28.73-million tonnes, grading 3.77% zinc and... 

Jubilee commissions 'industry-first' DCM fine chrome plant

By: Mariaan Webb     18th December 2018 Jubilee Metals has completed the fine chrome recovery plant at the Dilokong Chrome Mine (DCM) and has started commissioning the plant, which the dual-listed company believes will open up many opportunities in the chrome industry. CEO Leon Coetzer said on Tuesday that the DCM fine chrome plant... 

Canadian regulator to consider Katanga settlement proposal Tuesday

By: Reuters     18th December 2018 A Canadian regulator will consider on Tuesday whether to accept a proposal from Katanga Mining to settle allegations related to the Glencore-controlled company's activities in Democratic Republic of Congo. Katanga said in a statement on Monday it could not give details of the proposal until... 

Barrick makes good on promise of larger dividend as Randgold merger passes final milestone 

By: Mariaan Webb     18th December 2018 Canadian gold major Barrick Gold is rewarding its shareholders with a larger full-year dividend, in line with a previous commitment to boost its payouts as a sweetener for its $6.1-billion merger with Africa-focused Randgold Resources. The company has declared a fourth quarter dividend of $0.07... 

Barrick makes good on promise of larger dividend as Randgold merger passes final milestone
Randgold CEO Mark Bristow is the designate president and CEO of Barrick Gold.

Metal bulls cheer end to 'horrid' year; Goldman touts copper

By: Bloomberg     18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... 

Canadian regulator to fine Glencore-controlled miner over Congo - WSJ

By: Reuters     17th December 2018 A Glencore-controlled mining company and some of its current and former executives have agreed to pay more than $22-million to settle Canadian allegations they hid the risks of doing business with an Israeli close to Congolese President Joseph Kabila, the Wall Street Journal reported. The... 

Canadian regulator to fine Glencore-controlled miner over Congo - WSJ
Katanga Mining's operations in the Democratic Republic of Congo.

Zambia threatens to expel foreign workers over mine job cuts

By: Bloomberg     17th December 2018 Zambia threatened to cancel work permits for some foreign workers at mines that it accuses of announcing job cuts to "arm-twist" the government over proposed tax changes. “They downsize the local workers, we also send back some of the foreign workers. And we decide who to send back,” Home... 

 Zambia threatens to expel foreign workers over mine job cuts

Guinea-focused Bellzone Mining goes bust

By: Mariaan Webb     14th December 2018 Guinea-focused iron-ore company Bellzone Mining has called in the liquidators after its largest shareholder and main backer Hudson Capital prevented it from raising any further equity and debt. The company previously warned that it would go bust if it could not secure a fresh injection of cash... 

AMCU union to remain on strike at Sibanye-Stillwater

By: Reuters     14th December 2018 The president of South Africa's Association of Mineworkers and Construction Union (AMCU) said on Friday that the union's Sibanye-Stillwater members remain on strike, disputing the miner's argument the action is now illegal. Joseph Mathunjwa was speaking at a media conference organised to respond... 

Chinese battery firm halts purchases of cobalt from Glencore – sources

By: Reuters     14th December 2018 Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. GEM said in a March 14 regulatory filing that it would buy 52 800 tonnes of cobalt from... 

Orion’s flagship Prieska project to be a beacon of hope for junior miners 

By: Simone Liedtke     14th December 2018 Junior mining in South Africa will finally see a new level of growth as a result of South Africa’s newly gazetted Mining Charter 3, base metals miner Orion Minerals CEO Errol Smart told Mining Weekly Online on Friday. Junior mining, which he says has been the “bottom-feeding sector” in the mining... 

Orion’s flagship Prieska project to be a beacon of hope for junior miners
Orion CEO Errol Smart

MOD granted renewals on all its Botswana prospecting licences

By: Marleny Arnoldi     14th December 2018 ASX- and Aim-listed MOD Resources reported on Friday that all its prospecting licences across the joint venture (JV) landholdings in the Botswana copperbelt have been granted two-year extensions. Additionally, a new licence has been issued for three years. 

Kodal Minerals confident of making Bougouni mine decision in 2019

By: Marleny Arnoldi     14th December 2018 Aim-listed Kodal Minerals’ Bougouni project, in Mali, is progressing to its feasibility, planning and construction stages. CEO Bernard Aylward on Friday commented that 2018 had been a year of intense activity, with the company having declared a maiden resource of 17.3-million tonnes at 1.2%... 

Nigeria's first gold refinery scheduled to be ready next year

By: Bloomberg     14th December 2018 Nigeria’s first gold refinery, located in the southwestern state of Ogun, is scheduled to be completed by the end of June, according to Kian Smith Trade & Co, the local company developing it. The refinery will initially be able to produce 3 metric tons of gold each month, and 1 t of silver, Kian... 

Firestone recovers 46 ct diamond at Liqhobong

By: Tasneem Bulbulia     14th December 2018 Firestone Diamonds has recovered a 46 ct white diamond, from its Liqhobong mine, in Lesotho. The diamond was recovered undamaged and will go on sale at the next tender, which is scheduled to take place at the end of January 2019. 

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Global uranium supply sufficient to meet future demand – NEA
Cameco's Inkai mine in Kazakhstan

Resolute starts production from Syama underground

By: Esmarie Iannucci     14th December 2018 Gold miner Resolute Mining has started ore production from the new Syama underground mine, in Mali. MD and CEO John Welborne said on Friday that the successful development of the Syama underground mine represented a pivotal moment in the history of the company. 

Bass raises cash for Graphmada

By: Esmarie Iannucci     14th December 2018 ASX-listed Bass Metals will raise A$3.3-million through a share placement to fund resource drilling and part of the Stage 2 expansion at its Graphmada large flake graphite project, in Madagascar. Shares for the placement will be issued at a price of 1.25c each, with subscribers to the placement... 

Eskom debt swap not an option – Ramaphosa 

By: Reuters     14th December 2018 A debt swap for cash-strapped state power company Eskom would spiral the country into more debt, South Africa's President Cyril Ramaphosa said on Thursday, adding there was a need to look at other options to shore up the company's balance sheet. Eskom, which has had to implement power cuts due to... 

Angola approves new rules for rough diamonds

By: Rebecca Campbell     14th December 2018 The Angolan Government last week approved the new regulations concerning the commercialisation of diamonds, the Macauhub news agency has reported. The country’s Council of Ministers (Cabinet) approved the regulations on December 5. The official title of the new set of rules is The Technical... 

Policy certainty lifts sentiment, safety slips and a challenging 2019 forecast 

By: Nadine James     14th December 2018 Improved sentiment on the back of a newly appointed Minerals Resources Minister, the publication of and the subsequent consensus on Mining Charter 3 after extensive consultations, and mixed global commodities demand influenced by macroeconomic developments – primarily US-China trade tensions –... 

Policy certainty lifts sentiment, safety slips and a challenging 2019 forecast

Synthetic diamonds hogged media attention in 2018

By: Nadine James     14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... 

Synthetic diamonds hogged media attention in 2018
Photo by Bloomberg
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018

Angola approves new rules for rough diamonds

By: Rebecca Campbell     14th December 2018 The Angolan Government last week approved the new regulations concerning the commercialisation of diamonds, the Macauhub news agency has reported. The country’s Council of Ministers (Cabinet) approved the regulations on December 5. The official title of the new set of rules is The Technical... 

Policy certainty lifts sentiment, safety slips and a challenging 2019 forecast

By: Nadine James     14th December 2018 Improved sentiment on the back of a newly appointed Minerals Resources Minister, the publication of and the subsequent consensus on Mining Charter 3 after extensive consultations, and mixed global commodities demand influenced by macroeconomic developments – primarily US-China trade tensions –... 

Policy certainty lifts sentiment, safety slips and a challenging 2019 forecast

High Court sets out process to action against silicosis, TB settlement agreement  

By: Marleny Arnoldi     13th December 2018 The Johannesburg High Court on Thursday issued a court order setting out the processes in terms of which members of the settling classes and any interested parties should be invited to show cause why the silicosis and tuberculosis class action settlement agreement should not be made an order of... 

Back to the future for Eskom as it seeks to plug 1.3bn ton coal hole 

By: Terence Creamer     13th December 2018 State-owned electricity producer Eskom is going back to the future as it seeks to close an estimated 1.3-billion ton coal shortfall that it calculates will arise over the remaining life of its coal-fired power station fleet. The shortfall calculation takes account of the decommissioning of the... 

Back to the future for Eskom as it seeks to plug 1.3bn ton coal hole
Photo by Dylan Slater
Primary energy division GM Dan Mashigo

PTM completes share consolidation

By: Simone Liedtke     13th December 2018 Dual-listed Platinum Group Metals (PTM) on Thursday said it had completed the consolidation of its common shares. The consolidation was done on the basis of one new share for ten old shares, effective from 09:00 on December 13. 

Orion Minerals to restart Prieska production in 2021 

By: Simone Liedtke     13th December 2018 Polymetallic minerals exploration and development company Orion Minerals’ flagship Prieska zinc/copper mine, in the Northern Cape, is expected to start production by 2021. This is notwithstanding any potential challenges and delays, Orion COO Walter Shamu said during a media briefing on Thursday. 

Orion Minerals to restart Prieska production in 2021
Orion Minerals COO Walter Shamu speaks to Mining Weekly Online about the miner's flagship Prieska project, located in the Northern Cape. Video & Editing: Nicolas Boyd

Xolobeni community bans Mantashe for appealing right to say no to mining

By: African News Agency      13th December 2018 The Amadiba Crisis Committee said on Thursday that Mineral Resources Minister Gwede Mantashe was not welcome at the Xolobeni community anymore after it received his application for leave to appeal the court's judgement for the community's right to say no to mining in their area.  Last month, the... 

Gold supply to increase 2.2% for 2018 – Refinitiv

By: Marleny Arnoldi     13th December 2018 Total gold supply is set to increase by 2.2% year-on-year this year, led by mine production, says the GFMS team at Refinitiv. Refinitiv predicts this year will finish as another year of net de-hedging, albeit at a forecast 29 t, which will be 29% lower than in 2017.  

AMCU accuses Sibanye of using 'underhand tactics' to end strike

By: African News Agency      13th December 2018 The Association of Mineworkers and Construction Union (AMCU) has retaliated against Sibanye-Stillwater, saying that the miner had resorted to further "underhanded tactics" in an effort to discredit the legal and protected status of its strike in the gold sector.  This is after Sibanye said on... 

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