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Randgold’s Kibali mine making waves in the DRC

By: Henry Lazenby     Updated 31 minutes ago Africa-focused gold producer Randgold Resources on Tuesday said the Kibali gold mine, in the Democratic Republic of Congo (DRC) was now well advanced into the second and final phase of development that would take it to full production by 2018. Randgold was developing and operating the mine, which... 

On back of strong 2014, First Quantum disappoints with 2015 outlook

By: Henry Lazenby     Updated 5 hours ago Base metals miner First Quantum Minerals late on Monday reported record copper output during 2014, noting that the current year would see its Zambia operations benefit from increased synergies as its new smelter was being commissioned and its new Sentinel mine started first production during the... 

Mining boosts world’s poorest regions – ICMM

By: Martin Creamer     Updated 7 hours ago The global mining industry makes its biggest contribution in the world’s poorest regions, an International Council on Mining & Metals (ICMM) study has found. The study, which became available in published form on Tuesday, finds that mining spurs the growth and development of national economies... 

Mining boosts world’s poorest regions – ICMM
Photo by Duane Daws
Anthony Hodge

Amid oil price turmoil, Saldanha zone’s ‘free port’ status punted as key drawcard

By: Terence Creamer The establishment of a customs control area (CCA), or free port, within the newly designated Saldanha Bay Industrial Development Zone (SBIDZ) is being held up as a major drawcard for potential oil and gas services investors into the 330 ha site, situated alongside South Africa’s deepest natural... 

 Amid oil price turmoil, Saldanha zone’s ‘free port’ status punted as key drawcard
Port of Saldanha

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Ethiopia says no to alluvial mining near hydropower dam project area

By: Ilan Solomons Ethiopia’s Ministry of Mines has brought an end to London-listed Nyota Minerals’ plans to conduct alluvial mining along parts of the Abay river and its tributaries that would be flooded for the construction of the Grand Ethiopian Renaissance Dam (GERD). Nyota told shareholders in a statement on... 

Ethiopia says no to alluvial mining near hydropower dam project area

Record-quarter Sibanye forecasting best ever 2015 gold output

By: Martin Creamer South Africa-focused gold-mining company Sibanye Gold, which achieved record latest quarter production, is forecasting best ever output for the new year. Sibanye, headed by CEO Neal Froneman, which hit the 452 700 oz (14 079 kg) quarterly high spot in the three months to December 31, is guiding... 

Record-quarter Sibanye forecasting best ever 2015 gold output
Photo by Duane Daws
Neal Froneman

Gem Diamonds warns of possible price softening in early 2015

By: Natalie Greve Gem Diamonds CEO Clifford Elphick has cautioned that a weakening of diamond prices in the fourth quarter of last year, following a year of price growth, could continue into the first quarter of 2015. The group said on Tuesday that the announcement of the closure of the Antwerp Diamond Bank (ADB)... 

Anglo American may sell two more Australian coal mines – report

By: Esmarie Swanepoel Mining major Anglo American said on Tuesday that its coal portfolio review was still under way and that the outcome of the review was still to be determined. This comes after newswire Bloomberg reported that Anglo American may sell more of its Australian coal assets, citing a person with... 

Anglo American may sell two more Australian coal mines – report

Exploration at Kibo's Haneti project to continue

By: Megan van Wyngaardt Dual-listed Kibo Mining would conduct further exploration at its Haneti nickel project, in central Tanzania, following a positive independent geochemical interpretation report. "With this new report [in] hand, the case for further exploration and development at Haneti is compelling. We are... 

Cape Lambert gets first royalty from Timis

By: Esmarie Swanepoel ASX-listed resource group Cape Lambert on Tuesday announced that it had received its first royalty payment of A$400 000 from Timis Mining Corporation, as part of a funding agreement with the junior. Cape Lambert in October last year entered into a $20-million funding agreement with Timis... 

CoAL’s Vele colliery receives enviro nod for plant upgrade

By: Natalie Greve The Department of Environmental Affairs (DEA) has granted Coal of Africa Limited’s (CoAL’s) Vele colliery, in Limpopo, an amendment of the environmental authorisation in terms of the National Environmental Management Act and the Environmental Impact Assessment Regulations. This amendment was the... 

CoAL’s Vele colliery receives enviro nod for plant upgrade
Photo by Duane Daws
Vele colliery

South African mediators say new laws will help resolve strikes faster

By: Reuters South Africa's main agency for settling labour disputes voiced confidence on Monday that it now has more leverage to bring an early end to strikes like those that dragged on for months last year, undermining economic growth. Nerine Kahn, director of the Commission for Conciliation, Mediation and... 

South African mediators say new laws will help resolve strikes faster

Iron-ore hits 5-/12 yr low as China mills cut output

By: Reuters Iron-ore prices hit their lowest in 5-1/2 years on Monday as some loss-making Chinese steel mills curbed output, ore supplies remained abundant and concerns persisted about the outlook for economic growth in China this year. Cooling Chinese steel demand forced some steel mills to bring forward... 

All eyes on Saudi Arabia as ups and downs of oil price plunge considered

By: Simon Rees The end months of 2014 were grim ones for major oil-producing states everywhere, especially those in the Middle East. As the region continued grappling with the aftershocks of the Arab Spring and the threat of the Islamic State, they also watched the price of oil swoon. All eyes have turned to... 

All eyes on Saudi Arabia as ups and downs of oil price plunge considered

Eskom must go for stability before improvement – GE 

By: Martin Creamer Troubled South African State power utility Eskom should place emphasis on stability ahead of improvement, GE chairperson and CEO Jeffrey Immelt suggested on Monday. Speaking at the Gordon Institute of Business Science (GIBS) in Johannesburg, the head of the 137-year-old, 350 000-employee US... 

Eskom must go for stability before improvement – GE
GE chairperson and CEO Jeffrey Immelt

Social aspects of MPRDA ‘likely unconstitutional’, Presidency explains

By: Megan van Wyngaardt President Jacob Zuma sent the Mining and Petroleum Resources Development Act (MPRDA) Amendment Bill back to the National Assembly last week, as the Act was “likely unconstitutional” in terms of its social aspects. In a statement made on Monday, the Presidency said that the amended legislation... 

Social aspects of MPRDA ‘likely unconstitutional’, Presidency explains
Photo by Duane Daws
President Jacob Zuma

Diamonds stolen from Prieska mine

By: Sapa Sixteen men stole an undisclosed number of diamonds from a mine near Prieska on Monday morning, Northern Cape police said. "This morning at about 03:40, about 16 men stormed into a local mine near Prieska," said Lt Olebogeng Tawana. 

Assets managed by ETFs to double to $5-trillion by 2020 – PwC

By: Reuters Assets under management of exchange traded funds (ETFs) will double to at least $5-trillion by 2020, consultant PwC said on Monday, as investors increase exposure to such products given their lower costs than traditional mutual funds. "Institutional investors are widely expected to be the primary... 

Assets managed by ETFs to double to $5-trillion by 2020 – PwC

Village restructures board

By: Natasha Odendaal As part of its ongoing restructure and strategic review, Village Main Reef has reshuffled its board, effective February 1. Village appointed Octavia Matloa as deputy chairperson and lead independent nonexecutive director, while Godfrey Ntoele would assume the role of independent nonexecutive... 

Sable signs infrastructure development agreement with Liberia govt

By: Megan van Wyngaardt The signing of a 25-year infrastructure development agreement (IDA) between Aim-listed iron-ore explorer and developer Sable Mining Africa and the government of Liberia would allow the company to use, rehabilitate and expand the established rail line from Yekepa, in south-east Guinea, to the Port... 

Sable signs infrastructure development agreement with Liberia govt

Petra declares dividend, ups diamond production guidance

By: Martin Creamer London-listed South Africa-focused diamond-mining company Petra Diamonds, which on Monday declared its first dividend, has pushed up production guidance to 3.3-million carats for the year to June 30. Petra, which operates the Finsch, Cullinan, Koffiefontein and Kimberley Underground diamond mines... 

Petra declares dividend, ups diamond production guidance
Photo by Duane Daws
Johan Dippenaar

Zambia's new president says to keep mineral tax despite mine closure fears

By: Reuters Zambia will maintain a new mineral royalty tax despite fears that it could lead to mine closures, President Edgar Lungu said on Sunday as he was inaugurated in the nation's capital. Africa's second biggest copper producer hiked open pit mining royalties to 20% from 6% and underground royalties to... 

Zambia's new president says to keep mineral tax despite mine closure fears
Zambia President Edgar Lungu

Oil up after Saudi king dies; policy pledges calm market

By: Reuters Brent crude oil rose on Friday after the death of Saudi Arabia's king added to uncertainty in oil markets, although the new ruler indicated immediately there would be no policy change. Brent crude rose to a high of $49.80/bbl, up $1.28/bbl, before easing to around $49.20/bbl by 15:15 GMT. US... 

Oil up after Saudi king dies; policy pledges calm market

Sable confirms discussions around Liberia iron-ore export deal

By: Megan van Wyngaardt Aim-listed Sable Mining on Friday confirmed that it was in “advanced discussions” with the governments of Liberia and Guinea regarding its Mount Nimba iron-ore project, in south-east Guinea. Media reports stated that the company was expected to soon sign a $1.3-billion, 25-year infrastructure... 

Iron-ore prices to dent Kumba FY earnings

By: Natalie Greve Kumba Iron Ore expects its headline earnings for the year ended December 31 to drop from R15.4-billion in the prior year to between R10.6-billion and R11.4-billion, while basic earnings are expected to narrow from R15.4-billion to between R10.2-billion and R11.02-billion over the same period.... 

Danakil DFS to potentially uplift value of Premier’s interest in Circum

Circum Minerals expects to complete the definitive feasibility study (DFS) for its Danakil potash project, in the northern margin of the Danakil depression, in Ethiopia, by mid-year and foresees the production of 2.75-million tonnes a year of saleable potash salts over a minimum of 30 years.... 

Strike impact to cut Amplats’ FY headline earnings

By: Megan van Wyngaardt As a result of the five-month strike by workers at platinum miner Anglo American Platinum’s (Amplats’) operations at the start of 2014, the company expects its headline earnings for the year ended December 31, to decrease by between 40% and 55% year-on-year to between R650-million and... 

Eskom chief expects first signs of turnaround in 18 to 24 months 

By: Terence Creamer Eskom CEO Tshediso Matona believes positive results from the current turnaround plan at the embattled utility will begin showing through in the next 18 to 24 months and has committed to continue “telling it as it is and telling it like it has never been told” so that the issues facing the... 

Eskom chief expects first signs of turnaround in 18 to 24 months

Matona drawing energy from days as activist, diplomat to navigate Eskom perils 

By: Terence Creamer Apart, perhaps, from the Stoney ginger beer pick-me-up on his conference table and the queue of awaiting visitors in his reception area, there are few other signs of the pressure Eskom CEO Tshediso Matona is under. His corner office on the third-floor at Megawatt Park, in Sunninghill, provides... 

Matona drawing energy from days as activist, diplomat to navigate Eskom perils
Photo by Duane Daws
Eskom CEO Tshediso Matona

Fatality reported at AngloGold Ashanti’s Mponeng mine

By: Natasha Odendaal Stoping and development activities have been suspended at the Mponeng mine following a fatality, AngloGold Ashanti said on Thursday. A miners’ assistant was fatally injured in a fall-of-ground incident at the Carletonville-based mine on Wednesday. 

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