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Eskom tariffs in AMSA’s action plan crosshairs as losses spike 

By: Terence Creamer     27th July 2017 Steel producer ArcelorMittal South Africa (AMSA) will approach the National Energy Regulator of South Africa (Nersa) directly with a request for discounted electricity tariffs as part of a multi-pronged business sustainability action plan unveiled after the JSE-listed group slumped to a... 

Eskom tariffs in AMSA’s action plan crosshairs as losses spike

Fuel cell vehicle sales boosting platinum demand outlook  

By: Martin Creamer     24th July 2017 Growth potential for platinum is emerging in the rapid build-up off a low base of fuel cell electric vehicle sales. Fuel cell vehicle sales are expected to grow by more than 200% this year, with Japan targeting 200 000 fuel cell electric vehicles on its roads in 2025 and 800 000 in 2030. 

Fuel cell vehicle sales boosting platinum demand outlook

Kumba CEO Mkhwanazi concerned by Minister’s reneging  

By: Martin Creamer     25th July 2017 Kumba Iron Ore CEO Themba Mkhwanazi on Tuesday expressed concern about the mineral rights and mining transaction moratorium that has been gazetted by Mineral Resources Minister Mosebenzi Zwane, especially because it followed his agreement to suspend the implementation of Mining Charter Three... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging

Sishen productivity leaps by spectacular 57% – Kumba 

By: Martin Creamer     25th July 2017 With 30% fewer trucks, the fleet productivity at the Sishen iron-ore mine in the Northern Cape has leapt by an extraordinary 57%, Kumba Iron Ore CEO Themba Mkhwanazi said on Tuesday, when the company reported a 23% increase in production in the six months to June 30. The contribution of... 

Sishen productivity leaps by spectacular 57% – Kumba

Botswana invites bids for coal-to-liquids project

By: Martin Creamer     24th July 2017 The Botswana government is seeking prospective bidders for the establishment of a coal-to-liquids plant in the Southern African county, with support from its State-owned oil company, Botswana Oil. Botswana Oil, which manages State-owned strategic fuel reserve facilities, says in a... 

Botswana invites bids for coal-to-liquids project
Photo by Creamer Media
Mineral Resources, Green Technology and Energy Security Minister Sadique Kebonang at Botswana Resource Sector Conference in June

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Deputy Minister ‘uncomfortable’ at not being consulted
Photo by Duane Daws
Deputy Mineral Resources Minister Godfrey Oliphant

Acacia gets almost $200bn adjusted Tanzanian tax assessments

By: Henry Lazenby     24th July 2017 The Tanzania Revenue Authority (TRA) has issued two Acacia Mining subsidiaries with adjusted tax assessments totalling nearly $200-billion in alleged unpaid taxes, penalties and interest owed. This is the latest blow to the operator, whose first-half performance this year was severely impacted by... 

Acacia gets almost $200bn adjusted Tanzanian tax assessments
Photo by Acacia Mining
The Bulyanhulu gold mine, Tanzania

Moratorium infers intention to circumvent agreement – Leon 

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Embattled Paladin secures new financing facility

By: Esmarie Swanepoel     24th July 2017 The administrators of embattled uranium miner Paladin Energy have secured some $40-million of additional debt, announcing on Monday that they had entered into agreements with Deutsche Bank. Under the agreements, Deutsche Bank would acquire an existing $20-million revolving credit facility from... 

Botswana coal mine stalls as farmers reject compensation deal

By: Reuters     24th July 2017 Development of a new 1.35-million-tonne-a-year coal mine in Botswana has stalled due to a dispute over compensation payable to farmers holding surface rights in the proposed mining area, the company developing the mine said on Monday. The open cast mine is meant to supply coal to a new 300 MW... 

Zambia's Konkola halts operations at Nchanga mine after cable theft

By: Reuters     26th July 2017 Zambia's Konkola Copper Mines (KCM) said on Tuesday it was halting operations indefinitely at its Nchanga underground mine (NUG) in Chingola state due to theft of high voltage cables. Konkola, a subsdiary of London-listed Vedanta Resources, said it had also evacuated its 991 workers. The company... 

UK Serious Fraud Office opens Rio Tinto investigation

By: Esmarie Swanepoel     25th July 2017 The UK Serious Fraud Office (SFO) has opened an investigation into suspected corruption by mining major Rio Tinto in its business dealings in Guinea. The miner in late 2016 alerted the SFO and the US Department of Justice of a $10.5-million payment to a consultant for the Simandou iron-ore... 

UK Serious Fraud Office opens Rio Tinto investigation

Copper rallies to two-year high, miners surge as China brightens

By: Bloomberg     26th July 2017 The red metal is red hot. Copper surged to the highest level in more than two years on the London Metal Exchange, lifting shares of producers including Glencore, driven by expectations that increasing demand in China may fuel a global shortage and buoyed by a weak dollar. Benchmark three-month... 

Copper rallies to two-year high, miners surge as China brightens

Bokoni idled as JV partners Amplats, Atlatsa strike a deal

By: Natasha Odendaal     21st July 2017 Dual-listed Atlatsa Resources on Friday announced plans to implement a two-phase restructure plan that will see its joint venture (JV) Bokoni mine idled, with JV partner Anglo American Platinum (Amplats) acquiring the resources specified in the Central Block and Kwanda North prospecting rights. A... 

Bokoni idled as JV partners Amplats, Atlatsa strike a deal

Botswana hopes to strike deal with Norilsk soon over Nkomati mine

By: Reuters     25th July 2017 Botswana aims to resolve a dispute with Norilsk Nickel (Nornickel) next month over a failed deal in which the country's BCL Mine was to buy the Russian firm's 50% stake in the Nkomati mine. "Due diligence and valuation exercises are being carried out to establish the value of the Nkomati assets... 

Harmony reports fatality at Target mine

     25th July 2017 A Harmony Gold employee was killed in an accident at the Target mine, near Welkom, on Tuesday. The accident occurred during the performance of maintenance work at the underground refrigeration plant. 

Kumba lifts iron-ore output 23%, reinstates dividend, shares rise

By: Martin Creamer     25th July 2017 Iron-ore mining company Kumba Iron Ore on Tuesday reported a 23% increase in production in the six months to June 30 on the back of a productivity step change linked to the revised Sishen mine plan. The Anglo American subsidiary achieved a fatality-free half year and reduced lost-time injuries in... 

Kumba lifts iron-ore output 23%, reinstates dividend, shares rise
Photo by Duane Daws
Kumba Iron Ore CEO Themba Mkhwanazi

Zwane meets with Black Business Council to discuss Mining Charter 

By: Ilan Solomons     21st July 2017 Mineral Resources Minister Mosebenzi Zwane on Friday met with Black Business Council (BBC) president Dr Danisa Baloyi, and her executives, to discuss the mining legislative framework and “related issues which have been in the public domain recently”, said the Department of Mineral Resources... 

Zwane meets with Black Business Council to discuss Mining Charter
Mineral Resources Minister Mosebenzi Zwane

Amplats strengthens balance sheet, continues to manage for low prices

By: Martin Creamer     24th July 2017 Platinum mining company Anglo American Platinum (Amplats) reported on Monday that it has been able to further strengthen its balance sheet in the six months to June 30, despite the weaker rand basket prices in the period. In generating R4.3-billion in underlying operating cash flow, Amplats was... 

Amplats strengthens balance sheet, continues to manage for low prices
Photo by Duane Daws
Amplats CEO Chris Griffith

Tanzania President urges increased control of mineral wealth

By: Bloomberg     26th July 2017 Tanzanians are being cheated out of the country’s mineral wealth and should take more control of their natural resources, President John Magufuli said. Investors in Tanzania’s mining industry have “stolen” from the country by failing to provide a fair share of the revenue they generate from gold... 

Stop moratorium now, NUM instructs DMR

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

Paladin teeters on the brink of receivership

By: Henry Lazenby     21st July 2017 Australian uranium player Paladin Energy is on the brink of receivership as its debts outweigh potential revenues. The ASX-listed miner, which will be stripped of its TSX listing on August 10, for failure to meet the exchange’s ongoing listing requirements, said on Friday that it had received an... 

Paladin teeters on the brink of receivership
Photo by Bloomberg
Paladin Energy's Langer Heinrich Mine, Namibia

De Beers’ Venetia mine launches multimillion-rand empowerment deal

By: Mia Breytenbach     26th July 2017 Diamond miner De Beers has announced the launch of a major empowerment deal related to the transportation of employees to and from its operations at the Venetia diamond mine, in Limpopo. In a high-impact, local procurement and empowerment initiative, Venetia mine, in partnership with VM Diamond... 

Chamber of Mines challenges mining rights freeze in court

By: Reuters     25th July 2017 South Africa's Chamber of Mines has lodged an urgent court application to prevent the mines minister from suspending the issuance of new mining and prospecting rights, the industry body said on Tuesday. "The industry has no option but to proceed with court action to ensure that the minister acts... 

Moratorium aside, Zwane approves Lonmin’s bid to acquire Anglo’s Pandora stake

By: Samantha Herbst     26th July 2017 Mineral Resources Minister Mosebenzi Zwane has given platinum major Lonmin the go-ahead to acquire Anglo American Platinum’s 42.5% stake in the Pandora platinum joint venture (JV) operation, which saves the 3 000 jobs that would have been lost had the operation been placed under care and... 

Four bodies retrieved from North West mine

By: African News Agency      24th July 2017 Rescuers have retrieved bodies of four mine workers trapped underground during a seismic accident at Tau Lekoa mine in Orkney, North West. The incident happened over the weekend. 

Rio Tinto and Serbia sign MoU to speed up lithium project

By: Mariaan Webb     24th July 2017 London-based Rio Tinto has signed a memorandum of understanding (MoU) with the government of Serbia to progress the development of a deposit containing one of the twenty-first century’s hottest commodities – lithium. The MoU sets out how the Jadar project could be moved forward, with joint... 

Trevali on target with African asset acquisitions as zinc output rises

By: Henry Lazenby     25th July 2017 Trevali Mining's addition of two new African mines paid off in the zinc producer's pro-forma second-quarter results, which showed that 63% of the company's zinc-equivalent payable pounds were contributed from Rosh Pinah (Namibia) and Perkoa (Burkina Faso). Trevali is acquiring both assets from... 

Trevali on target with African asset acquisitions as zinc output rises

Zinc rally set to last as producer sees best price in decade

By: Bloomberg     21st July 2017 The rally in zinc prices has the potential to jump this year to levels not seen in a decade as demand continues to outstrip supply amid mine output disruptions, according to Hindustan Zinc, Asia’s biggest producer by market value. Prices may rise to about $3 000 a metric ton on the London Metal... 

Zinc rally set to last as producer sees best price in decade
Early works at the Gamsberg project in a 2015 file photo.

TSX falls, weighed by Barrick and other gold miners

By: Reuters     24th July 2017 Canada's main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold lost nearly 5% after a company it majority owns, Acacia Mining, was hit with a bill for $190-billion in unpaid taxes in Tanzania. Railway stocks, big banks and pipeline and other energy stocks also put... 

Freeport Indonesia mine workers extend strike for fourth month

By: Reuters     21st July 2017 An estimated 5 000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labour issue comes as Freeport, the... 

Glencore to invest $21m in Brazil's copper producer Paranapanema

By: Reuters     21st July 2017 Glencore has signed an agreement to invest up to 66-million reais ($21-million) into Brazilian copper producer Paranapanema, the Brazilian firm said in a securities filing. Paranapanema said the cash injection will give Glencore the right to appoint one board member and that the agreement is... 

Philippines' Duterte warns miners: 'I will tax you to death'

By: Reuters     24th July 2017 Philippine President Rodrigo Duterte on Monday said he wanted to stop exporting mineral resources and might close the mining sector completely and tax miners "to death" if damage to the environment persisted. "The protection of the environment must be made a priority ahead of mining and all... 

Pacific Northwest LNG megaproject cancelled following review, ‘changed market conditions’ 

By: Henry Lazenby     26th July 2017 The Pacific NorthWest liquefied natural gas (PNW LNG) project has been cancelled by its shareholders, following an in-depth review and changed market conditions. Malaysia-based Petronas, the majority shareholder of the project, made the announcement on Tuesday, leaving the project, which has a... 

Pacific Northwest LNG megaproject cancelled following review, ‘changed market conditions’

Outa lays treason, corruption charges against Zwane

By: Anine Kilian     24th July 2017 Civil rights body, the Organisation Undoing Tax Abuse (Outa), on Monday laid a charge of treason against Mineral Resources Minister Mosebenzi Zwane, for allegedly “actively aiding State capture and causing massive financial loss to South Africa”.   Outa laid charges of treason, corruption,... 

Vedanta’s Zinc International production down y/y in Q1, Zambia copper production improves

By: Mia Breytenbach     26th July 2017 Diversified miner Vedanta Resources' Zinc International business recorded a 25% year-on-year decrease in production to 32 000 t  for the quarter ended June 30 – the first quarter of its 2018 financial year. The decrease was mainly as a result of an planned plant shutdown at the acid plant, as... 

Vedanta’s Zinc International production down y/y in Q1, Zambia copper production improves
Tom Albanese

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