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Eskom was the 'main stage in the theatre of corruption', says Mabuza 

By: African News Agency      22nd February 2019 Eskom chairperson Jabu Mabuza told the Zondo Inquiry on Friday that the current board of directors discovered that the power utility was "the main stage in the theatre of corruption" when it was appointed in January 2018. Asked by evidence leader Vincent Maleka to detail the state of affairs when... 

Eskom was the 'main stage in the theatre of corruption', says Mabuza
Photo by Creamer Media
Eskom chairperson Jabu Mabuza

Transnet sets up war room to combat infrastructure-theft surge and line sabotage 

By: Terence Creamer     22nd February 2019 Transnet Freight Rail (TFR) has set up a war room together with the South Africa Police Service (SAPS) in a bid to deal with a surge in infrastructure theft, as well as recent acts of sabotage and vandalism on its key coal corridor from Ermelo, in Mpumalanga, to Richards Bay, in KwaZulu-Natal. On... 

Transnet sets up war room to combat infrastructure-theft surge and line sabotage

High-flying Amplats sets ‘next wave of strategy’ in motion 

By: Martin Creamer     18th February 2019 Anglo American Platinum (Amplats), which shot the lights out with a set of stupendous cash-splurging, debt-negating, high-dividend-yielding 2018 results, on Monday set its “next new wave of strategy” in motion, which involves extracting the full potential from its operations through people and... 

High-flying Amplats sets ‘next wave of strategy’ in motion
Photo by Creamer Media Chief Photographer Dylan Slater
Anglo American Platinum CEO Chris Griffith

UG2 outperforms as Sibanye positions for new world ­  

By: Martin Creamer     21st February 2019 The soaring prices of rhodium and palladium have put new focus on the upper group two (UG2) reef, for long the poor cousin of Merensky reef in the hierarchy of platinum group metals (PGMs) mining. Merensky's predominant platinum content has made it the preferred reef for decades but UG2 is... 

UG2 outperforms as Sibanye positions for new world ­

BHP can't rescue iron-ore market after Brazil dam disaster

By: Bloomberg     19th February 2019 BHP Group, the world’s biggest miner, doesn’t have capacity to raise shipments into the iron ore market as competitor Vale faces outages following the fatal mining disaster in Brazil last month. The global iron ore market has been thrown upside down by the tragedy, after Vale was forced to... 

 BHP can't rescue iron-ore market after Brazil dam disaster

Price premiums boosting quality-focused Kumba Iron Ore  

By: Martin Creamer     19th February 2019 South Africa’s Kumba Iron Ore, which stands head and shoulders above its peers when it comes to iron-ore quality, is achieving major price premiums well above historical heights. Structural change and strong growth in particularly the China steel market has placed the Anglo American group company... 

Price premiums boosting quality-focused Kumba Iron Ore

Glencore auditing 140 slimes dams 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore is auditing 140 slimes dams, 65 of them active and 75 of them closed. The company has been undertaking detailed assessments and audits of all material tailings storage facilities (TSFs) over the past three years, after accumulating a TSF... 

Glencore auditing 140 slimes dams
Photo by Glencore
Fifty-one percent of Glencore's tailings storage faciities are upstream dams.

ERG will suspend copper, cobalt output at Congo mine this month

By: Bloomberg     20th February 2019 Eurasian Resources Group will halt production at a copper and cobalt mine in the Democratic Republic of Congo, as it considers future investment in new production methods. The shutdown at Boss Mining Sprl will curb cobalt supplies from a nation that accounts for three-quarters of global... 

Coal capped at 150 Mt/y – Glencore 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore has capped its coal capacity at 150-million tonnes of coal a year, a figure that it is close to and which it will not exceed. The company has been working on the cap with its investors since 2016 in the interests of the transitioning to a low... 

Coal capped at 150 Mt/y – Glencore
Photo by Glencore
Glencore is using wind turbine generated energy in Canada and Australia

Barrick confirms it has studied offer for Newmont

By: Bloomberg     22nd February 2019 Barrick Gold, the world’s second-largest gold producer, confirmed it has considered a bid for Newmont Mining Corp. as the Canadian mining giant looks for ways to boost production. Barrick has reviewed the opportunity to merge with Newmont in an “all-share nil premium transaction,” but no... 

Barrick confirms it has studied offer for Newmont
Barrick Gold CEO Mark Bristow

Barrick outlines proposal to settle Acacia dispute with Tanzania

By: Reuters     20th February 2019 Canadian miner Barrick Gold on Wednesday outlined a plan to settle disputes between its Acacia Mining unit and Tanzania's government, which includes a $300-million payment to resolve tax claims in the East African country. London-listed Acacia and Tanzania's government have engaged in a prolonged... 

Barrick outlines proposal to settle Acacia dispute with Tanzania

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem 

By: Terence Creamer     18th February 2019 Black business luminary Patrice Motsepe has labelled as “ridiculous” a recurring allegation that African Rainbow Energy & Power (AREP) is part of an unscrupulous plan to collapse Eskom and supplant the State-owned power utility with independent power producers (IPPs), in which the business would... 

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem
Photo by Creamer Media
AREP chairperson Patrice Motsepe

Retrenchments at South32’s Hillside smelter could affect up to 500 jobs – Solidarity

By: Nadine James     19th February 2019 Trade union Solidarity on Tuesday said it had received a retrenchment notice from South32’s Hillside aluminium smelter, in Richards Bay. The trade union stated that the retrenchment process could impact the lives of up to 30 000 people and, consequently, the entire Richards Bay area. 

Petra appoints new CEO, narrows H1 net loss 

By: Tasneem Bulbulia     18th February 2019 LSE-listed Petra Diamonds, which on Monday announced the appointment of Richard Duffy as CEO, narrowed its adjusted net loss after tax to $4.5-million for the six months ended December 31, 2018, from the net loss of $7.2-million recorded for the six months to December 31, 2017. Nevertheless,... 

Petra appoints new CEO, narrows H1 net loss
Photo by Creamer Media
Richard Duffy

Rustenburg unemployed demand jobs at a mine

By: African News Agency      18th February 2019 Unemployed people at Ikemeleng in Kroondal near Rustenburg marched to the Kroondal Mine on Monday, demanding jobs. "We are here today to let the mine know that we as Ikemeleng community want what is ours and that is jobs and tenders. There is a tender that came out dealing with the dumping area... 

Sibanye-Stillwater raises 2018 expected loss to R2.5bn

By: Reuters     20th February 2019 Sibanye-Stillwater said on Wednesday it expects its full-year attributable loss to be over $100-million larger than the guidance given in a trading statement last week, following a review of tax changes in the US. The gold and platinum miner's shares fell into negative territory on the news that... 

AMCU calls on all members to strike in support of Sibanye gold employees

By: Tasneem Bulbulia     19th February 2019 The Association of Mineworkers and Construction Union (AMCU) has called on its members at Sibanye-Stillwater’s platinum operations to again embark on a strike in support of those AMCU members who have been on strike at the miner’s gold operations since November 2018. It has further encouraged its... 

State-owned AEMFC awarded PCF bid to the tune of R1bn

By: Nadine James     20th February 2019 A consortium led by State-owned mining company African Exploration Mining and Finance Corporation (AEMFC) has been awarded the post-commencement funding (PCF) bid for Optimum Coal and its associated assets to the value of R1-billion.  PFC is finance granted to a company in business rescue and is... 

State-owned AEMFC awarded PCF bid to the tune of R1bn
From left to right are: Lurco Group COO and co-founder Aubrey Chauke; Lurco Group business development, marketing and capital raising head Lee Stokes; Lurco Group commercial head Richard MacDonald; Lurco Group consultant Errol Salkinder; Ukwazi MD Jaco Lotheringen; the BRP's lead lawyer Bouwer van Niekerk; Optimum BRP Chris Monyela; BRP officer Devon Brikkels; Lurco Group CEO and co-founder Ellington Nxumalo; Optimum senior BRP Juanito Damon; Optimum senior BRP Louis Kloppers; AEMFC legal counsel Nkhangweni Ndou; and Lurco Group legal counsel Khanyi Zungu

Acid truck collison near Glencore mine in the DRC kills 20 people

By: Creamer Media Reporter      22nd February 2019 About 20 people were killed when a truck transporting acid to Mutanda Mining owned by Glencore in the Democratic Republic of Congo collided with two people carriers about 50km from the site. The acid truck was heading to the copper and cobalt operation near Kolwezi in the southeast of the country. 

Brazil iron-ore tragedy brings home reality of mining risk – Kumba  

By: Martin Creamer     19th February 2019 Following 58 mineworkers suffering fatal occupational accidents in South Africa in 2018, Kumba Iron Ore CE Themba Mkhwanazi on Tuesday drew attention to 2019 beginning globally with the tragic loss of life at Brumadinho, in Brazil, as a result of an iron-ore tailings dam collapse that killed 170... 

Exxaro completes Tronox divestment

By: Simone Liedtke     18th February 2019 Diversified miner Exxaro Resources on Monday confirmed that NYSE-listed mining and inorganic chemicals company Tronox has completed the first stage of its redomiciliation, whereby it has acquired Exxaro’s remaining ownership interest in Tronox Sands for just over R2.06-billion, or about... 

Hudbay plans C$124m mill refurbishment to double Manitoba mine's gold output

By: Mariaan Webb     20th February 2019 Base and precious metals miner Hudbay Minerals has outlined a new mine plan for the Lalor mine, in Manitoba, which extends the mine life beyond ten years and transitions the operation to a primary gold mine, which will be one of the lowest-cost in Canada. The new mine plan includes the... 

Hudbay plans C$124m mill refurbishment to double Manitoba mine's gold output
The Lalor mine in Manitoba.

Lucara finds another 223 ct gem in Botswana

By: Creamer Media Reporter      19th February 2019 2019 is off to a great start for Lucara Diamond Corp, with the Canada-headquartered mining company having recovered another large diamond at its Karowe mine, in Botswana. The large find is a 223 ct, high white gem diamond, which will be shown alongside the 240 ct and 127 ct top white gem... 

AMCU to extend Sibanye gold strike to other South African miners from Feb 28

By: Reuters     21st February 2019 Workers led by South Africa's Association of Mineworkers and Construction Union (AMCU) plan to down tools at gold and platinum mines next week in support of colleagues at Sibanye-Stillwater who are striking over wages and job cuts. AngloGold Ashanti, Harmony Gold, Anglo American Platinum, Lonmin,... 

Rio Tinto launches tailings dam review

By: Esmarie Iannucci     21st February 2019 Diversified miner Rio Tinto has launched a review of the global standards of its tailings dams following the failure of a Vale tailings dam in Brazil, which killed about 300 people. “I would like to acknowledge the recent tragedy at Minas Gerais in Brazil, and our thoughts are with all those... 

Brazil bans upstream mining dams after Vale's latest disaster

By: Bloomberg     18th February 2019 Brazil is prohibiting a specific type of tailings dam after two of those structures owned by miner Vale burst in recent years, causing death and environmental devastation. All so-called upstream dams need to be decommissioned or removed by August 2021, according to a resolution the National... 

Brazil bans upstream mining dams after Vale's latest disaster
Vale CEO Fabio Schvartsman flies over the latest dam disaster area in Brazil.

Strike-hit but upbeat Sibanye confident of value uplift as precious metals shine 

By: Martin Creamer     21st February 2019 Precious metals company Sibanye-Stillwater expressed confidence on Thursday that the global precious metals surge would enable it to deliver value despite the prolonged strike challenge that the company is contending with. The company reported 8%-lower earnings before interest, taxes,... 

Strike-hit but upbeat Sibanye confident of value uplift as precious metals shine
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Copper cops play game of cat and mouse around desert convoys

By: Bloomberg     18th February 2019 Just weeks after the police unit was formed, they caught their first glimpse of the copper thieves -- the silhouettes of a group of men on a hill overlooking the rail lines -- triggering a car chase at the dead of night across Chile’s Atacama desert. While the pursuit ended in failure, with the... 

Copper cops play game of cat and mouse around desert convoys

Implats announces revised interim HEPS, EPS figures

By: Simone Liedtke     18th February 2019 Following the release of a trading statement earlier this month, Impala Platinum (Implats) on Monday said that it “now has reasonable certainty” that its headline earnings and headline earnings per share (HEPS) for the six-month period ended December 31, 2018, are likely to be between... 

Is Anglo finally getting ready to join mining's buyback club?

By: Bloomberg     21st February 2019 Anglo American remains the only giant miner not buying back shares, but that doesn’t mean it’s not thinking about it. The world’s biggest producers, shunning growth and reluctant to launch a major new deal spree, have been handing record amounts of money back to shareholders in the recent years.... 

Improved margins drive growth in AngloGold's free cash flow generation 

By: Simone Liedtke     19th February 2019 Gold miner AngloGold Ashanti achieved its guidance for the sixth consecutive year, with improved margins driving significant growth in free cash flow generation, the company announced on Tuesday morning.   The gold miner further declared a dividend of 95c a share, equal to about $0.07.   During... 

Improved margins drive growth in AngloGold's free cash flow generation
Photo by Bloomberg
AngloGold CEO Kelvin Dushnisky

BHP calls for international body to oversee tailings dams

By: Reuters     19th February 2019 BHP Group called for the creation of an independent international body to oversee the construction, integrity and operations of tailings dams, which hold mining waste, after the second collapse of a dam in Brazil in the past three years. "As an industry, we now have to redouble our efforts to... 

Platreef weighted basket price reaches three-year high – Ivanhoe

By: Nadine James     19th February 2019 Ivanhoe Mines co-chairpersons Robert Friedland and Yufeng Sun, as well as Ivanplats MD Dr Patricia Makhesha, on Monday announced that the weighted basket price of the metals contained in the Platreef palladium/platinum/rhodium/nickel/copper/gold project has risen to a new, three-year high.... 

Canada clears Newmont’s Goldcorp buy

By: Creamer Media Reporter      19th February 2019 The Canadian Competition Bureau has cleared gold miner Newmont’s $10-billion stock-for-stock acquisition of NYSE- and TSX-listed Goldcorp. The US miner said on Monday that it was continuing to work with other regulatory agencies to secure the additional approvals that were required for the... 

Anglo American suspends operations at Australian coal mine after fatality

By: Reuters     21st February 2019 Anglo American said on Thursday it has suspended operations at its Moranbah North coking coal mine in Australia after one worker died and several were injured on Wednesday. The London-listed miner said an investigation was underway into the underground accident between a personnel carrier and a... 

Palladium bursts above $1 500 as shortages ignite record rally

By: Bloomberg     20th February 2019 Palladium powered above $1 500 to hit a record, extending a powerful rally driven by an acute shortage of supply as car manufacturers scramble to get hold of the material to meet stringent emissions controls. Spot palladium rose as much as 1.7% to $1 505.46/oz, and was at $1 501.89 at 11:38 a.m.... 

Palladium bursts above $1 500 as shortages ignite record rally

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