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Popular This Week

South African mining-focused EV manufacturer launched

By: Nadine James     20th June 2018 Battery-driven mining vehicle solution provider Battery Power Industries (BPI) officially launched on Wednesday. The South African original-equipment manufacturer specialises in the development of battery energy systems, electrical traction systems and high-speed charging systems for underground... 

South African mining-focused EV manufacturer launched

Gold street is where South Africa’s mining history goes to die

By: Bloomberg     20th June 2018 The death rattle of the industry that once symbolised South Africa can be heard in the town of Carletonville – on Gold street. That’s where Paseka Selemela has been guarding cars since 2010, when the scaffolding business he worked for closed. Prior to that, he was an assistant at a now-shuttered... 

Brand new equipment takes centre stage at coal terminal

By: Martin Creamer     21st June 2018 The first phase of the equipment replacement project reached full swing at the Richards Bay Coal Terminal (RBCT) on Thursday when R1.34-billion worth of brand new stacker reclaimers and shiploaders went into official action, holding out the prospect of improved turnaround times for coal... 

Brand new equipment takes centre stage at coal terminal
Photo by Martin Creamer
The official launch of a new machine at the Richards Bay Coal Terminal

Sibanye-Stillwater appoints safety exec, to fund study to enhance risk management

By: Creamer Media Reporter      20th June 2018 Following a spate of fatalities at its South African mines this year, Sibanye-Stillwater has committed to funding an independent study, to be conducted by a visiting academic at the University of the Witwatersrand (Wits), with the aim of developing practical recommendations for enhancing risk... 

Sibanye-Stillwater appoints safety exec, to fund study to enhance risk management

New draft Mining Charter better than ‘disaster’ it is replacing – Mohale

By: Nadine James     22nd June 2018 The latest draft of the third Mining Charter is not perfect, but it is better than the “disaster” it is replacing, Business Leadership South Africa CEO Bonang Mohale told attendees at the African Mining Network event on Thursday evening. He explained that the previous draft, which was... 

New draft Mining Charter better than ‘disaster’ it is replacing – Mohale
BLSA CEO Bonang Mohale

Asia's thermal coal demand poised to grow

By: Esmarie Swanepoel     19th June 2018 Asia’s thermal coal demand could increase by some 400-million tonnes by 2030, a new report commissioned by the Minerals Council of Australia (MCA) found. Asian thermal coal demand is expected to grown from the 740-million tonnes in 2017, to 1.147-billion tonnes in 2030. 

Asia's thermal coal demand poised to grow

Mining Charter’s free-carried interest requirement worries industry

By: Anine Kilian     21st June 2018 Although changes have been made to certain sections of the latest draft of the third Mining Charter, some mining industry participants believe the charter will not benefit the industry. Unpacking the proposed ownership requirements for new mining rights as set out in the draft charter, in... 

Indian State-owned firms mandated to acquire overseas lithium and cobalt assets

By: Ajoy K Das     22nd June 2018 The Indian government has mandated all State-owned mineral-based companies to pool their resources to acquire lithium and cobalt assets overseas. A rough deadline of March 2019 has been set for these companies to complete all formalities, such as leveraging their balance sheets jointly, form... 

Alrosa to lower production at International underground mine

By: Creamer Media Reporter      20th June 2018 Russian mining major Alrosa has revised the production plan of its International underground mine, near Mirny, as it takes a tougher stance on health and safety management. The production plan for 2018 remains unchanged at 36.6-million carats, but under the revised plan for 2019 to 2022, output... 

Alrosa to lower production at International underground mine
The International underground mine.

China marks cobalt, copper ascendancy in Congo with new group

By: Bloomberg     19th June 2018 More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Report alleges miners inadequately disclose information on environmental rehabilitation costs

By: Nadine James     20th June 2018 Neither the law, nor the accounting standards governing company disclosures, ensure the necessary transparency and accountability about financial provision for environmental rehabilitation, the Centre for Environmental Rights (CER) alleges in its ‘Full Disclosure: The Truth about Mining... 

Lungu refuses to fire Minister following Zambian mining tragedy

By: African News Agency      21st June 2018 Zambian President and leader of the ruling Patriotic Front (PF) party Edgar Lungu, has turned a deaf ear to calls for the Minister of Mines Richard Musukwa to be fired following Wednesday’s mining tragedy when at least ten miners were buried alive after the collapse of a mine dump in Zambia's... 

Coal is being squeezed out of power by cheap renewables

By: Bloomberg     21st June 2018 Coal will be increasingly squeezed out of the power generation market over the next three decades as the cost of renewables plunges and technology improves the flexibility of grids globally. That’s the conclusion of a report by Bloomberg New Energy Finance, which estimated some $11.5-trillion of... 

BHP to sell Chile copper mine to EMR Capital

By: Mariaan Webb     19th June 2018 Global mining major BHP has agreed to sell its Cerro Colorado copper mine, in Chile, to private equity manager EMR Capital, the Melbourne-headquartered company announced on Tuesday. The transaction consists of a cash consideration of $230-million and about $40-million in proceeds from the... 

BHP to sell Chile copper mine to EMR Capital

Copperbelt Energy of Zambia eyes $250m power investment

By: Bloomberg     20th June 2018 Copperbelt Energy Corp, the Zambian electricity supplier with customers including Glencore’s copper mines, may invest as much as $250-million in solar projects and transmission lines in the neighboUring Democratic Republic of Congo (DRC), CEO Owen Silavwe has said. The amount includes two solar... 

PTM subsidiary, Capricorn municipality ink plan to increase water supply

By: Simone Liedtke     19th June 2018 Waterberg JV Resources, the operating company of the Waterberg Joint Venture (JV), has entered into an agreement with the Capricorn district municipality, in Limpopo, to jointly develop a water supply management plan to increase the water supply and infrastructure capacity for both the local... 

Cobalt explorers see Congo mine law offset by price, high grades

By: Bloomberg     21st June 2018 Junior miners exploring for cobalt in the Democratic Republic of Congo (DRC) reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed. Congo, the world’s largest source of the metal, this month began implementing an... 

First Quantum says competitiveness key to Zambia copper production

By: African News Agency      22nd June 2018 Global metals and mining company First Quantum has urged Zambia to ensure competitiveness and stability in the sector in order to attract foreign direct investment and regain its slot as Africa's largest copper producer. Essential to this is a competitive electricity tariff structure that... 

South Korea lobbies India to relax gold import restrictions

By: Ajoy K Das     19th June 2018 The review and upgrade of the free trade agreement (FTA) between India and South Korea is facing a speed bump, with the latter seeking a relaxation of gold import restrictions. The South Korean government wants restrictions on gold shipments into India, imposed last year, to be scrapped,... 

Gold anomaly of over 8 km identified at GoldStone’s Akrokeri-Homase project

By: Creamer Media Reporter      20th June 2018 Aim-listed GoldStone Resources has identified a larger than 8 km gold-in-soil anomaly at its Akrokeri-Homase gold project, in South-West Ghana. The gold-in-soil anomaly, which runs from the historic Akrokeri underground mine to north of the Homase openpit, was identified following a review of the... 

Hyundai teams up with VW's Audi to boost hydrogen cars

By: Reuters     20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

Cobalt stocks in China set for new surge as EV boom rolls on

By: Bloomberg     19th June 2018 A slump in cobalt prices and the shares of Chinese refiners may provide an ideal bargain-hunting opportunity for investors seeking a piece of the action as Asia’s top economy leads a global boom in electric vehicles. Cobalt sulfate, a chemical used in batteries, has dropped more than 20% since... 

Harmony repays $100m on bridge facility, strengthens balance sheet

By: Simone Liedtke     19th June 2018 Harmony Gold Mining has repaid a further $100-million of the original $200-million bridge loan raised for the acquisition of its recently-acquired Moab Khotsong gold mine, in the North West. “Harmony believes in having a robust and flexible balance sheet that supports its growth ambitions,”... 

Harmony repays $100m on bridge facility, strengthens balance sheet
Harmony CEO Peter Steenkamp

Turkey revokes Westwater’s uranium project licences

By: Creamer Media Reporter      22nd June 2018 Nasdaq-listed Westwater Resources on Friday announced that the Turkey government had revoked the mining and exploration licences of its Temrezli and Sefaatli uranium projects. The exploration and development company said that it was investigating the legality of the development and that it had... 

IRR says Mining Charter still flawed

By: African News Agency      22nd June 2018 South Africa's latest Mining Charter is better than the previous document but is still "profoundly flawed" and a continuing choke on investment, the Institute of Race Relations (IRR) said on Friday. The government last week gazetted the draft charter after abandoning implementation of one last... 

Nevada Copper reports solid progress at Pumpkin Hollow

By: Creamer Media Reporter      20th June 2018 Early construction works continue to ramp up at the Pumpkin Hollow underground project, while an optimisation study for the openpit is progressing and expected to be released in the coming months. In an operations update on Tuesday, TSX-listed Nevada Copper reported that work was continuing on... 

More boardroom diversity means less in C-suite, Lucara CEO says

By: Bloomberg     21st June 2018 The push by mining companies to attract more women to their boardrooms may be short-sighted as top female candidates are diverted from senior executive jobs, according to the head of Lucara Diamond Corp. “There’s such a push for diversity on boards, and young women are really being encouraged to... 

More boardroom diversity means less in C-suite, Lucara CEO says
Lucara CEO Eira Thomas

China continues to encourage foreign mining investment

By: Rebecca Campbell     22nd June 2018 In early April the People’s Republic of China established a new Ministry, that of Natural Resources (MNR). The creation of the new Ministry was part of a programme to restructure the country’s State Council (Cabinet). The MNR took over all the responsibilities of the previous (and now... 

China continues to encourage foreign mining investment

Aveng shares leap as M&R moves closer to tie-up

By: Reuters     19th June 2018 Shareholders in South Africa’s Murray & Roberts voted on Tuesday for the company to look into a potential tie up with construction rival Aveng, sending Aveng's shares around 25% higher. The resolution got the backing of 52.06% of votes at the Murray & Roberts' (M&R) annual shareholder meeting. 

Aveng shares leap as M&R moves closer to tie-up
Photo by Creamer Media
M&R CEO Henry Laas

Matsa signs gold deal with AngloGold Ashanti

By: Esmarie Swanepoel     20th June 2018 Junior gold producer Matsa Resources has inked a memorandum of understanding (MoU) with gold major AngloGold Ashanti over Matsa’s extensive Lake Carey gold project, in Western Australia. The MoU would see the two companies negotiating technical data and infrastructure sharing, with AngloGold... 

Paulson urges underperforming gold miner to seek a buyer

By: Bloomberg     25th June 2018 Billionaire hedge-fund manager John Paulson is among investors pushing for Canadian miner Detour Gold to put itself up for sale, citing stock losses amid managerial missteps. In a letter to the Toronto-based company’s board, Paulson & Co said directors had “failed to recruit and oversee a... 

Paulson urges underperforming gold miner to seek a buyer
John Paulson

Ghana Parliament ratifies AngloGold’s Obuasi agreements

By: Anine Kilian     22nd June 2018 Ghana’s Parliament has ratified regulatory and fiscal agreements that cover the redevelopment of AngloGold Ashanti’s Obuasi gold mine into a modern, productive mining operation. The ratification, on Thursday, of the development agreement, together with the tax concession agreement, is an... 

Copper mine planned for Utah National Monument shrunk by Trump

By: Bloomberg     21st June 2018 The red sandstone vistas in Utah’s Grand Staircase-Escalante National Monument may soon be criss-crossed with dump trucks after a Canadian mining company announced plans to begin operations on land cut from federal protection by President Donald Trump. Vancouver-based Glacier Lake Resources... 

Stop exploiting Africa, share resources, Pope tells Europe

By: Reuters     20th June 2018 Europe should stop exploiting Africa and invest in ways that benefit the continent more, including by sharing mineral wealth more equitably, Pope Francis said. "We must invest in Africa, but invest in an orderly way and create employment, not go there to exploit it," he told Reuters in a... 

Stop exploiting Africa, share resources, Pope tells Europe
Photo by Reuters
Pope Francis

Gem declares $18.3m in payments to Lesotho, Botswana governments

By: Simone Liedtke     19th June 2018 Gem Diamonds paid just over $18.3-million to the governments of Lesotho and Botswana for extractive activities completed in the financial year ended December 31, 2017. Of this amount, about $18.1-million was paid to the government of Lesotho, with the balance of $230 000 paid to the Botswana... 

Trump's fickleness is dulling gold's appeal, Deutsche Fund says

By: Bloomberg     21st June 2018 Gold is failing in its traditional role as a haven in turbulent times, and a Deutsche fund manager has an explanation. On Tuesday, as the deepening trade spat between the US and China sent the S&P 500 index tumbling the most in a week, investors sought haven in the dollar, US Treasuries and yen,... 

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