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CHARTER THREE HIT FOR SIX:

By: Martin Creamer     22nd September 2017 Mineral Resources Minister Mosebenzi Zwane, who has upset all stakeholders with his Mining Charter Three, is facing a barrage of stakeholder resistance to his deleterious document. The Chamber of Mines has stopped unfettered Ministerial comment on Mining Charter Three until a full bench of judges... 

CHARTER THREE HIT FOR SIX:

FICTION AND FIBS IN FOREIGN FIELDS:

By: Martin Creamer     15th September 2017 Mineral Resources Minister Mosebenzi Zwane has been globe-trotting again instead of taking to mining stakeholders at home. He got away with distorting the realities of his aberrant Mining Charter Three at the LatAm Mining Cumbre in Chile, but thankfully he was prevented from dishing out more... 

FICTION AND FIBS IN FOREIGN FIELDS:

DEMOLITION DEPARTMENT

By: Martin Creamer     8th September 2017 If South African mining continues to be damaged the way it is, it is likely to disappear altogether. Already mining company equity risk has soared along with the cost of capital, which puts South Africa at an increasing disadvantage. Mining Charter Three, if not stopped, will the heaviest... 

DEMOLITION DEPARTMENT

STRANGULATION OF MINING

By: Martin Creamer     1st September 2017 Mining Charter Three is already in the throes of strangling the mining industry, which provides virtually half of South Africa’s foreign currency from a quarter of its exports. Without these foreign currency earnings, South Africa’s participation in global trade stands to be decimated. Yet the... 

STRANGULATION OF MINING

LOCAL MINING NEEDS URGENT POLICY ATTENTION

By: Martin Creamer     25th August 2017 It is very sad that the mining industry is receiving toxic Mining Charter Three and mineral rights moratorium treatment at a time when the South African economy is in desperate need of stimulation. Even after more than a century of mining, it remains core to defining the entire South African... 

LOCAL MINING NEEDS URGENT POLICY ATTENTION

SOUTH AFRICA BURNS WHILE DMR FIDDLES

By: Martin Creamer     18th August 2017 The Department of Mineral Resources (DMR) is too inexperienced to realise that mining continues to define the South African economy, despite its errant behaviour. The lenience South Africa is showing to the department and its Ministry is doing South Africa no good at all. The DMR remains... 

SOUTH AFRICA BURNS WHILE DMR FIDDLES

VINDICTIVE MORATORIUM

By: Martin Creamer     11th August 2017 Mineral Resources Minister Mosebenzi Zwane and his Department of Mineral Resources (DMR) should be brought to book for the shocking hand they have dealt to an industry that remains core to defining the South African economy. The African National Congress is correct to instruct the Minister and... 

VINDICTIVE MORATORIUM

MORONIC MORATORIUM

By: Martin Creamer     4th August 2017 One week the Department of Mineral Resources (DMR) signs a written undertaking not to apply the controversial Mining Charter Three and the next week it pulls the carpet from under that signed agreement and imposes a moratorium on the corporate and transactional activity that underpins the growth... 

MORONIC MORATORIUM

LOOK WHO'S UNDER PRESSURE NOW

By: Martin Creamer     28th July 2017 Notwithstanding last week’s second gazetting, the South African mining industry has won the first round of its fight against the errant by Mineral Resources Minister Mosebenzi Zwane by getting him to provide a written undertaking that neither he nor his equally errant Department of Mineral... 

LOOK WHO'S UNDER PRESSURE NOW

CROSSING SWORDS

By: Martin Creamer     21st July 2017 The urgent interdict application brought by the Chamber of Mines to halt the implementation of Mining Charter Three is likely to succeed, says Webber Wentzel partner Rita Spalding. The Mineral Resources Ministry gazetted the controversial new charter on June 15 without the widespread stakeholder... 

CROSSING SWORDS

LOSING OUT ON POTENTIAL ABUNDANCE

By: Martin Creamer     14th July 2017 South Africa has a mining industry that employs 495 000 people. It pays these employees more than R102-billion a year. It contributes R18-billion a year to the government in taxes. It has been a flywheel that has assisted economic development for 140 years. It is considerably more transformed... 

LOSING OUT ON POTENTIAL ABUNDANCE

ECONOMIC LUNACY

By: Martin Creamer     7th July 2017 What the Mineral Resources Ministry and its Department of Mineral Resources (DMR) are doing to the South African economy is tantamount to economic sabotage. The way the Ministry and the DMR are dictatorially going about Mining Charter Three has already dealt a severe blows. For the common good,... 

ECONOMIC LUNACY

SMASH AND GRAB

By: Martin Creamer     30th June 2017 Mineral Resources Minister Mosebenzi Zwane has unleashed havoc on the already battered local mining industry by adopting a short-term smash-and-grab approach to a long-term industry that can only yield economic inclusivity if it grows. To grow, mining needs investment and to get investment it has... 

SMASH AND GRAB

IN THE CROSSHAIRS

By: Martin Creamer     23rd June 2017 ‘BHP board in hedge fund's crosshairs’, ran one headline, along with ongoing reportage of the once-hallowed BHP being downgraded left, right and centre by fund managers and analysts. It is almost as if BHP has gone back to being the Broken Hearted People company it was in the late Nineties,... 

IN THE CROSSHAIRS

COBALT CAPTURE

By: Martin Creamer     16th June 2017 While the cobalt in platinum group metals (PGM) ore is destroyed in during conventional PGM processing, the new Kell technology can put an end to all that. The lower temperature hydrometallurgical process developed by the Pallinghurst group saves cobalt from destruction at a time when the cobalt... 

COBALT CAPTURE

REMOVING THE SPARKLE

By: Martin Creamer     9th June 2017 Mineral Resources Minister Mosebenzi Zwane has once again thrown consultation to the four winds and dumped the long-standing practice of granting exemption to rough diamonds being sent to neighbouring Botswana so that they can be like-for-like sorted with diamonds mined in Botswana, Namibia and... 

REMOVING THE SPARKLE

REBRANDING UNDER WAY

By: Martin Creamer     2nd June 2017 South Africa’s 128-year-old Chamber of Mines is changing its name and heading for a new identity, motivated by the need to toss the apartheid past into the dustbin of history and rebrand the organisation as a new modern entity that stimulates economic growth. The changes being introduced will... 

REBRANDING UNDER WAY

PLATINUM’S ROYAL RECEPTION

By: Martin Creamer     26th May 2017 PLATINUM’S ROYAL RECEPTION – The Royal Mint will in a few weeks issue 1 oz ‘Queen’s Beasts Lion of England’ platinum coinage, which has rekindled hopes that the South African Mint will wipe the dust off its plans to issue a Mandela coin in platinum. Every effort needs to be made to improve the... 

PLATINUM’S ROYAL RECEPTION

PGM PAIN AND GAIN

By: Martin Creamer     19th May 2017 Palladium this month reached its most expensive price in 15 years when it rallied to within $100/oz of its platinum group metals (PGM) stablemate. The price divergence is the result of dalliance in the automotive industry, with the diesel vehicle market, where platinum features strongly, facing... 

PGM PAIN AND GAIN

DEEP AND STEEP

By: Martin Creamer     12th May 2017 Quarter-on-quarter costs at the South Deep gold mine 45 km southwest of Johannesburg soared 56% to a steep $1 821/oz in the first three months of this year, on a production fall to 45 800 oz. Worse still, the mine suffered two fatal accidents. A total of 20 900 oz of gold were lost as a result of... 

DEEP AND STEEP

FIRM REJECTION

By: Martin Creamer     5th May 2017 New South African Finance Minister Malusi Gigaba has firmly rejected the nationalisation notions of his adviser, Professor Chris Malikane. By contrast, Gigaba has informed investors that his short-term goal is to avoid further sovereign credit downgrades, his medium-term goal is to restore South... 

FIRM REJECTION

ESKOM BALL AND CHAIN

By: Martin Creamer     28th April 2017 Although State utility Eskom has referred to a change of ownership “sticking point” and the need for an urgent meeting with Anglo American, two labour unions have publicly backed the sale of Anglo’s Eskom-tied of coal assets to Seriti, the new 79 % black-owned start-up that is aspiring to be... 

ESKOM BALL AND CHAIN

CUT SUPPLY BUT NOT JOBS:

By: Martin Creamer     21st April 2017 Getting the balance right in the commodities business is tricky, but essential. With low dollar platinum prices refusing to go away, attention simply must be given to ending oversupply – but without job loss. Create stockpiles, mine ounces with the best margins in descending order and use... 

CUT SUPPLY BUT NOT JOBS:

CHALLENGED PLATINUM

By: Martin Creamer     14th April 2017 The price of platinum has sagged by as much as the price of gold has risen, and threatening to catch up to platinum now is kindred metal palladium, the price of which has been touching the $800/oz mark. Perhaps it is time for platinum to take a cue from manganese, which cut its output and saw its... 

CHALLENGED PLATINUM

GOLDEN MILE

By: Martin Creamer     7th April 2017 There was a time when the gold and platinum seemed joined at the hip, but those days are long gone and currently platinum would be doing brilliantly if its price could just keep up with gold. Why the lapse? At last month’s Prospectors and Developers Association of Canada convention, Bank of... 

GOLDEN MILE

SITING DUCK

By: Martin Creamer     31st March 2017 The future of Anglo American has been thrown up into uncertainty by Vedanta’s purchase of 13% of Anglo’s shares, which has given rise to speculation that Vedanta would like to take over Anglo’s South African iron-ore, coal and platinum mines. The Indian company used its Volcan Investments vehicle... 

SITING DUCK

PRICE PRISONER:

By: Martin Creamer     24th March 2017 Platinum remains oversupplied on lack of production discipline, especially in South Africa. Provided miners eliminate 300 000 oz to 400 000 oz of yearly supply, platinum could rally, Bank of America Merrill Lynch said at the yearly Prospectors and Developers Association of Canada convention, in... 

PRICE PRISONER:

PULLING THE RUG FROM UNDER MINING 

By: Martin Creamer     17th March 2017 South Africa’s current economic growth is hopelessly inadequate to drive the socioeconomic changes that are so desperately needed. But while one would expect improved economic growth to result from an end to minerals legislation delays and Mining Charter uncertainty, the status quo may be a... 

PULLING THE RUG FROM UNDER MINING

FACTIONAL FARCE

By: Martin Creamer     10th March 2017 Factionalism is rife within government currently and very sad to behold. It also comes with a lot of unintended consequences. One of those is the manner in which the Department of Mineral Resources (DMR) and hurt the South African Revenue Services (SARS), even though everything points to them... 

FACTIONAL FARCE

TRANSPARENCY TRUMPED

By: Martin Creamer     24th February 2017 On June 27, 2016, the US Securities and Exchange Commission (SEC) voted to approve regulations to implement Section 1504, or the Cardin-Lugar Amendment, of the 2010 Dodd-Frank Financial Reform and Consumer Protection Act. Section 1504 requires any oil, gas or mining company filing an annual... 

TRANSPARENCY TRUMPED

TRUMP THUMP

By: Martin Creamer     17th February 2017 President Trump signed two directives last week that roll back key financial regulations of the Obama era. He has decided to put a match to the Dodd-Frank rule that requires companies to disclose whether their products contain conflict minerals from a war-torn part of Africa. The now-repealed... 

TRUMP THUMP

DOWN DMR'S DRAIN

By: Martin Creamer     10th February 2017 Instead of the Department of Mineral Resources (DMR) thinking up plans to boost South African mining, recent court judgements demonstrate how the DMR is sending this country’s invaluable minerals endowment down the drain. Urgent steps should be taken not only to put an end to this, but to make... 

DOWN DMR'S DRAIN

DMR FIDDLES WHILE MINING BURNS

By: Martin Creamer     3rd February 2017 Under current leadership, the Department of Mineral Resources (DMR) has broken with the collective public-private approach of the past and is choosing haphazard engagement that is unfair to this country’s rich resource endowment. While the DMR fiddles, mining companies are being forced to derisk... 

DMR FIDDLES WHILE MINING BURNS

BULLS TAKE ON BEARS

By: Martin Creamer     27th January 2017 Are the bulls gaining the upper hand in mining? That will be thoroughly discussed at this year’s Mining Indaba, where panellists on both sides of the divide will ponder the prospects mining’s recovery in 2017. The Fitch Group’s research arm BMI believes that the growth outlook will improve... 

BULLS TAKE ON BEARS

MINERAL 'WRONGS'

By: Martin Creamer     20th January 2017 A company applying for mineral rights ended up getting mineral ‘wrongs’, the High Court has found. The court found that Aquila Steel South Africa was being treated unfairly by the Department of Mineral Resources (DMR), which had opted to do the bidding of the Pan African Mineral Development... 

MINERAL 'WRONGS'

STREAKING AHEAD

By: Martin Creamer     16th December 2016 Diversified mining and marketing company Glencore enters 2017 with a fully restored balance sheet. The London-, Hong Kong- and Johannesburg-listed company’s 207% year-to-date share price rise is showing up yesteryear’s BHP Billiton and Rio Tinto. The tragic Samarco slimes dams deaths in Brazil... 

STREAKING AHEAD

MINING ON KNIFE EDGE

By: Darlene Creamer     9th December 2016 The South African mining industry has been placed on a knife edge by the errant Department of Mineral Resources (DMR), which is threatening to gazette deleterious new mining levies before year-end. The DMR is ignoring mining’s huge contribution to exports, foreign exchange earnings and foreign... 

MINING ON KNIFE EDGE

DICTATOR OF MINERAL RESOURCES

By: Martin Creamer     2nd December 2016 The Department of Mineral Resources (DMR) can with justification now be referred to as the Dictator of Mineral Resources. Since the DMR’s sudden departure from the labour, business and government tripartite arrangement, nobody can get anything out of it, not even Parliament. It is hell-bent on... 

DICTATOR OF MINERAL RESOURCES
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