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Popular This Month

Chevron’s A$340m tax bill appeal in Australia dismissed

By: Esmarie Swanepoel     24th April 2017 The federal government has welcomed a Full Federal Court decision to dismiss oil and gas giant Chevron’s appeal of a A$340-million Australian Taxation Office (ATO) bill. The court dismissed Chevron’s appeal against an ATO ruling that the US giant had used an intra-company loan as a means to shift... 

Chevron’s A$340m tax bill appeal in Australia dismissed

Tegeta coal prepayment not a loan says Eskom

By: News24Wire      22nd April 2017 The over R600-million Eskom paid to Tegeta, a company in which the Gupta family has interests, was not a loan, but a prepayment, the state-owned power utility said on Saturday. Eskom also wanted it made clear that Tegeta honoured its side of the agreement by delivering all the pre-paid coal,... 

Syrah awards logistics contract to Grindrod

By: Esmarie Swanepoel     24th April 2017 Graphite developer Syrah Resources has awarded the graphite distribution and logistics services supply contract at its Balama project, in Mozambique, to JSE-listed Grindrod Mauritius. The contract includes the provision of long haul trucking services for graphite concentrate from the Balama site... 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag 

By: Martin Creamer     10th April 2017 A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity... 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag
Photo by Duane Daws
Seriti CEO Mike Teke

New cost-slashing platinum technology ready to roll – Pallinghurst

By: Martin Creamer     31st March 2017 JOHANNESBURG (miningweekly.com) – Years of diligent research and development have paid off for Pallinghust group platinum mine Sedibelo, which is now ready to implement an amazing new technology that will send platinum processing costs tumbling down the cost curve, use a fifth of the electricity... 

New cost-slashing platinum technology ready to roll – Pallinghurst
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen

Vale completes Moatize sale to Mitsui, appoints new CEO

By: Henry Lazenby     28th March 2017 Brazilian miner Vale has completed the sale of its interest in the Mozambique-based Moatize coal project to Japanese miner Mitsui & Co, receiving an initial payment of $733-million. A further $37-million will be paid after the financing for the project is concluded, Vale said in a press release... 

Nothing off table as Lonmin pursues value in low platinum price environment

By: Martin Creamer     7th April 2017 The tough new circumstance confronting platinum mining companies demands business unusual to cope with the low price environment. “Right now, sustainability is more important than anything,” says Lonmin CEO Ben Magara, who has also assumed direct hands-on COO control of all the operations in... 

Nothing off table as Lonmin pursues value in low platinum price environment

Platinum has best price improvement prospects – Major

By: Martin Creamer     6th April 2017 Platinum has better price improvement prospects than virtually any other commodity, Cadiz Corporate Solutions mining director Peter Major said on Thursday. Speaking at a breakfast to publicise the upcoming Junior Indaba on June 7 and 8, Major cast doubt on gold going much higher, said iron-ore... 

Platinum has best price improvement prospects – Major
Cadiz Corporate Solutions mining director Peter Major

Anglo sells coal mines to Mike Teke’s Seriti

By: Martin Creamer     10th April 2017 Diversified mining company Anglo American on Monday announced the sale of its Eskom-tied domestic thermal coal operations in South Africa to a wholly owned subsidiary of Seriti Resources Holdings, a company majority owned by historically disadvantaged South Africans and led by a management team... 

Anglo sells coal mines to Mike Teke’s Seriti
Photo by Duane Daws
Seriti CEO Mike Teke

Stillwater transaction to test Trump team’s appetite for China deals

By: Bloomberg     10th April 2017 Even as President Donald Trump and President Xi Jinping of China met for the first time to try to sort out their complex relationship, Trump’s administration is reviewing attempts by China to buy sensitive US companies and in one case is actively trying to thwart a deal. The Trump administration... 

Eskom cancels supplier contract owing to inferior coal 

By: Creamer Media Reporter      29th March 2017 State-owned power utility Eskom has terminated a contract with a major coal supplier to its Tutuka power station after discovering the coal supplied was not extracted from the contracted collieries. The parastatal, following strict monitoring of the coal quality to the station, revoked the... 

Chamber of Mines ‘seriously concerned’ about Gordhan’s dismissal

By: Ilan Solomons     31st March 2017 The Chamber of Mines has added its voice to the chorus of parties that are worried about the consequences of President Jacob Zuma’s decision to reshuffle his Cabinet. Those that were removed from their positions included Finance Minister Pravin Gordhan, his deputy Minister Mcebisi Jonas, Tourism... 

Chamber of Mines ‘seriously concerned’ about Gordhan’s dismissal
Photo by Duane Daws
Former Finance Minister Pravin Gordhan

Anglo's new billionaire backer Agarwal says he's no activist

By: Bloomberg     29th March 2017 Anglo American’s new billionaire shareholder said he has no intention of behaving like an activist investor after surprising the mining industry by paying $2.5-billion for a 13% stake earlier this month. “At the moment, I’ve come in purely as an investor on my personal capacity and that is the... 

Anglo's new billionaire backer Agarwal says he's no activist
Photo by Bloomberg
Vedanta chairperson Anil Agarwal

Diamond industry’s famous hungry crocodile doesn't cut it

By: Bloomberg     28th March 2017 The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and... 

Funding under way for revival of old Prieska zinc-copper potential

By: Martin Creamer     12th April 2017 Funding efforts aimed at reviving the old Northern Cape mining area endowed with significant zinc and copper potential are gaining momentum. Acknowledged as the host of one of world’s most noteworthy volcanogenic massive sulphide (VMS) base metal deposits, the Prieska area has a well-recorded... 

Swedish miner says Donald Trump doesn't hold key to metal prices

By: Bloomberg     28th March 2017 The operator of some of Europe’s largest copper and zinc mines expects President Donald Trump’s plans to spend on US infrastructure to have much less impact on base-metal prices than the needs of burgeoning middle-class populations in emerging markets. That’s because projects in the US and other... 

Orbite Technologies to file for bankruptcy protection

By: Henry Lazenby     4th April 2017 Quebec clean-technology firm Orbite Technologies has filed a notice of intention (NoI) to make a proposal under the Bankruptcy and Insolvency Act, thereby imposing an automatic 30-day stay of proceedings that will protect the company and its assets from the claims of creditors while the company... 

Winning Wabush pits not 'life or death' for Alderon’s Kami iron project – CEO

By: Henry Lazenby     7th April 2017 Securing the closed Wabush mine assets is not a life or death threat to developing Alderon Iron Ore’s flagship Kamistiatusset (Kami) high-grade iron-ore property. Not securing the assets will merely be a setback, chairperson and CEO Mark Morabito has told Mining Weekly Online. In an interview on... 

Winning Wabush pits not 'life or death' for Alderon’s Kami iron project – CEO

Implats wins $16m claim in US recycler default fraud case

By: Martin Creamer     4th April 2017 Platinum-mining company Implats has won a $16-million claim for constructive fraudulent transfer during the insolvency in the US of a former recycler of autocatalyst materials, which had a long-standing association with Impala Refining Services (IRS). Johannesburg Stock Exchange-listed Implats... 

Implats wins $16m claim in US recycler default fraud case
Photo by Duane Daws
Implats CFO Brenda Berlin

South32 to return additional $500m to shareholders

By: Martin Creamer     27th March 2017 Diversified mining company South32 on Monday announced that it intends to return an additional $500-million to shareholders, equating to 4.5% of the group’s current market capitalisation. The Sydney-, London- and Johannesburg-listed company said in a media release that this dividend-complementing... 

South32 to return additional $500m to shareholders
South32 CEO Graham Kerr

Sibanye wins US thumbs up for Stillwater acquisition

By: Martin Creamer     18th April 2017 Precious metals mining company Sibanye has received unconditional approval from the Committee on Foreign Investment into the United States on the proposed acquisition of platinum group metals mining company Stillwater, which mines and processes the metals in Montana. Johannesburg- and New... 

Sibanye wins US thumbs up for Stillwater acquisition
Photo by Duane Daws
Sibanye CEO Neal Froneman

South32, GE sign three-year digital transformation deal

By: Esmarie Swanepoel     10th April 2017 Diversified miner South32 has struck a three-year strategic partnership with New York-listed GE to assist in the company’s digital transformation. South32 said in a statement on Monday that it will use GE’s Predix platform, designed to connect industrial equipment, data analysis and instant... 

Ransacked gold mine venture reboots as arguing partners quit

By: Bloomberg     11th April 2017 South African mining veteran Peter Skeat is pressing ahead with plans to squeeze more gold out of an 80-year old ransacked gold mine west of Johannesburg after settling a dispute with three former partners. The entrepreneur, who is part-financing the venture himself, is seeking investors to help... 

Ransacked gold mine venture reboots as arguing partners quit
Photo by Duane Daws
Peter Skeat

CoAL buys cash generative Uitkomst colliery while Makhado development advances

     5th April 2017 South Africa-focused Coal of Africa Limited (CoAL) has entered into a R275-million deal to acquire Pan African Resources Coal Holdings, a subsidiary of JSE-listed Pan African Resources, which holds a 91% interest in the Uitkomst colliery, in KwaZulu-Natal. The group also entered into a loan... 

CoAL buys cash generative Uitkomst colliery while Makhado development advances
Photo by Duane Daws
CoAL CEO David Brown

Zambia mining sector set for growth to 2021

By: Anine Kilian     10th April 2017 Zambia's mining sector will see solid growth between 2017 and 2021 following proposed changes to the country's regulatory environment, says research firm BMI. Favourable global copper prices and rising cobalt demand will attract foreign investment; however, the country will face ongoing... 

Big boost for platinum as world's mayors tackle urban air pollution 

By: Martin Creamer     30th March 2017 The plans of the mayors of the world’s biggest cities to tackle urban air pollution head-on are a major plus for platinum, which catalyses the exhaust systems of vehicles and is the key metal in the emergence of emission-destroying fuel cells. The clean-air programme is being spearheaded by C40... 

Big boost for platinum as world's mayors tackle urban air pollution
World Platinum Investment Council CE Paul Wilson

Pallinghurst turns $45m profit, upbeat on 2017, mulling options

By: Martin Creamer     29th March 2017 Diversified mining company Pallinghurst, which made $45-million profit in 2016, is upbeat on 2017. The Johannesburg Stock Exchange-listed company spoke of all three of its business platforms being well positioned for further growth and value-unlock. 

Pallinghurst turns $45m profit, upbeat on 2017, mulling options
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen and chairperson Brian Gilbertson at JSE listing ten years ago this year.

Tharisa switching to in-house mining

By: Martin Creamer     4th April 2017 Platinum- and chrome-mining company Tharisa is transitioning from contract mining to owner mining at its Tharisa operation, taking over the employees and equipment of contractor MCC. The Johannesburg Stock Exchange-listed Tharisa, headed by CEO Phoevos Pouroulis, said on Tuesday that it had been... 

Tharisa switching to in-house mining
Tharisa CEO Phoevos Pouroulis

Kibali mine on track to increase production, but DRC policies a concern

By: Megan van Wyngaardt     19th April 2017 The underground operation at Randgold Resources’ Kibali gold mine is on track for commissioning to start in the third quarter of this year, which will significantly increase production. The Democratic Republic of Congo- (DRC-) based mine is forecast to deliver around 610 000 oz of gold this year,... 

Kibali mine on track to increase production, but DRC policies a concern
Photo by Duane Daws
CEO Mark Bristow

World's nutrient-poor farms get a vitamin boost from zinc mines

By: Bloomberg     18th April 2017 Injecting an industrial metal back into the ground could prove a boon for farmers and miners alike. The metal is zinc. Used mostly to reduce corrosion in iron and steel, zinc also is needed in trace amounts to keep humans and plants healthy. Without it in their diets, people are prone to... 

World's nutrient-poor farms get a vitamin boost from zinc mines

South Africa's Sibanye declares war on illegal gold miners

By: Reuters     21st April 2017 Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. Now, with unmined output dwindling and proving more diff cult to extract, one firm has... 

Mining majors' shares pull back as iron, copper prices retreat

By: Henry Lazenby     18th April 2017 Major miners saw their respective stocks pull back on Tuesday on the back of weaker iron-ore and base metals prices, despite the latest Chinese economic data showing better-than-expected growth in the first quarter of 2017. Major miners traded in the red on Tuesday, including the world’s largest... 

Mining majors' shares pull back as iron, copper prices retreat

Sotheby's sells record $71m diamond to Chow Tai Fook 

By: Bloomberg     4th April 2017 Hong Kong-based jewelry retailer Chow Tai Fook bought a 59.6 ct pink diamond for about $71-million, setting the world record for the top auction price for any gem. The stone has an unusual distinction: it has attracted even higher bids in the past. The jeweler made the HK$553-million winning bid... 

Firestone Diamonds recovers 110 ct yellow diamond from Liqhobong

By: Natasha Odendaal     5th April 2017 Aim-listed Firestone Diamonds has recovered a 110 ct gem-quality light yellow diamond – its largest diamond recovered to date – from the Liqhobong mine, in Lesotho. The discovery was made during the mine’s ongoing ramp-up. 

London Metal Exchange imposes $1.4m fine on Glencore warehouse unit

By: Reuters     31st March 2017 The London Metal Exchange (LME) imposed a $1.4-million fine on the metals warehouse unit of commodity group Glencore on Friday, for falsifying documents detailing zinc movements from New Orleans. The LME, the world's oldest and largest market for industrial metals, said Glencore's Access World... 

Gold seen soaring to $1 500 as inflation poised for a comeback

By: Bloomberg     29th March 2017 Gold is poised to rally to levels last seen four years ago as rising inflation and negative real interest rates combine to boost demand, according to Incrementum, which says that the precious metal may be in the early stages of a bull market. Prices may climb to $1 400/oz to $1 500/oz this year,... 

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