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Avocet draws down on loan facility to continue business review

By: Megan van Wyngaardt     Updated 2 hours 40 minutes ago Aim-listed Avocet Mining has drawn down further funds under the third Elliott loan facility of about $2.4-million, agreed with Manchester Securities, an affiliate of the company's largest shareholder Elliott Management Corporation. The funds would be used to meet Avocet’s corporate requirements... 

Optimum Coal heads for business rescue as Eskom plays hardball

By: Martin Creamer     Updated 4 hours ago Business rescue proceedings are to begin at both Optimum Coal Holdings and Optimum Coal Mine after attempts to renegotiate a 22-year-old lossmaking supply agreement with Eskom ended in the State electricity utility asserting its rights to past and future penalty claims. The penalties sought... 

Optimum Coal heads for business rescue as Eskom plays hardball
Coal mine into business rescue

Brazil's Bradespar renews buyback plan for another year

By: Reuters     Updated 5 hours ago The board of Bradespar SA, a mining and energy investment holding unit controlled by Banco Bradesco SA, renewed on Monday a plan to repurchase up to 24.8 million shares for another year after the company's two classes of stock sank an average 25% this year. Bradespar, which controls Bradesco's... 

Stratmin lifts plant output rates at Madagascar graphite play

By: Natalie Greve London-listed graphite production and exploration company Stratmin Global Resources has successfully completed the second stage of plant optimisation at the Madagascar-based Loharano operation, increasing production rates to up to to 900 kg an hour of refined graphite. The company said on Monday... 

Giorgetta calls on miners to educate communities on resource benefits

By: Esmarie Swanepoel Diggers & Dealers forum chairperson Nick Giorgetta has called on the Australian mining industry to educate the broader community on the positive contribution being made by mining, in order to influence policymakers. Speaking on the first day of the Diggers & Dealers conference, Giorgetta noted... 

WA's miners see 290% growth in last 15 years – Deloitte

Over the last 15 years, the value of Western Australia’s top 100 listed companies has grown by 290%, to some A$131.9-billion, advisory firm Deloitte has reported. Ahead of the annual Diggers & Dealers conference, Deloitte released its fifteenth anniversary edition of the Western Australian Index,... 

Mining boom bolsters explosives, chemicals markets – research firm

By: Megan van Wyngaardt The rapid growth of Africa’s mining industry, and particularly in Central Africa, is being mirrored in the mining explosives and chemicals market, research firm Frost & Sullivan reports. Through new analysis, the firm has found that almost 65% of major and minor mining firms in the region... 

Peak Resources sees bright future for Tanzania magnet metals project

By: Chanel de Bruyn A focus on high-value rare earths and the use of a tailor-made beneficiation process bodes well for Tanzania-focused Peak Resources. The ASX-listed company is developing the Ngualla rare earths project, which contains high-grade neodymium and praseodymium mineralisation. 

Peak Resources sees bright future for Tanzania magnet metals project

Mozambique’s new coal export route will start operations soon

By: Keith Campbell The new coal export terminal at the port of Nacala-a-Velha in Mozambique’s Nampula province should load its first ship in August. That was reported last week by Corredor Logístico de Nacala (CLN – Nacala Logistics Corridor) director José Otoni. This represents a delay of eight months in... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani 

By: Terence Creamer In a hard-hitting address, Anglo American CEO Mark Cutifani lamented the decline in the competitiveness of South Africa's mining industry and warned that the “trust deficit” between government, the industry and labour would need to be urgently overcome if the country and the sector were to... 

Overcoming ‘trust deficit’ key to surviving ‘these tough times’ – Cutifani
Photo by Duane Daws
Mark Cutifani

Falling commodity prices creating a project graveyard – Deloitte

The continued fall in commodity prices was likely to see more projects being scrapped, advisory firm Deloitte Access Economics reported this week. In fact, the 'project graveyard' was expected to expand faster than the project pipeline and, with the majority of Australia’s liquefied natural gas... 

Kenya's senate passes mining law

By: Reuters Kenya's mining ministry on Wednesday said the country's senate had passed a mining bill which will give the government a 10% stake in new projects, taking it a step closer becoming law. The bill was approved by the national assembly last year and now needs to be signed by President Uhuru... 

Kenya's senate passes mining law

Weakened nickel, gold prices weigh on Mwana’s FY earnings

By: Natalie Greve Weakened gold and nickel prices paired with lower-than-planned production figures for the two metals have driven a decrease in the earnings of multicommodity miner Mwana Africa, narrowing group earnings before interest, taxes, depreciation and amortisation from $25-million in the 2014 financial... 

Zimbabwe misses H1 tax target, mining royalties plunge

By: Reuters Zimbabwe's tax collections were six% below target during the first half of the year while mining royalties and value added tax plunged, reflecting a struggling economy, the tax agency said on Wednesday. The southern African country's economy, where mining contributes around 17% to gross domestic... 

Zimbabwe misses H1 tax target, mining royalties plunge

SA mineral riches traced to ancient volcanoes  

By: News24Wire South Africa’s extensive bounty of valuable minerals can be traced to ancient super volcanoes, according to a researcher. “The super volcanoes of the past 2.7-billion years left us with something unique in the world – after all the drama, our part of the continent was full of diamonds and... 

Kenmare expects improved H2 output, appoints new nonexec director

By: Natalie Greve Multicommodity play Kenmare Resources expects its production for the second half of the year to improve, as power utility Electricidade de Moçambique commissions equipment to increase grid power capacity and stability. Output at Kenmare’s Moma mine was “severely impacted” by 57 days of... 

SADC Ministers target 2019 for electricity surplus, cost-reflective tariffs 

By: Terence Creamer Southern African Development Community (SADC) Energy Ministers have called on member countries to produce roadmaps for transitioning their electricity supply industries towards cost-reflective tariffs by 2019 in an effort to improve the sustainability of the sector and create the basis for... 

SADC Ministers target 2019 for electricity surplus, cost-reflective tariffs

Exxaro to loan majority BEE shareholder R400m

By: Creamer Media Reporter Diversified miner Exxaro on Friday said it would provide its majority black economic-empowerment shareholder consortium Mainstreet 333 (MS333) a R400-million loan to repay a portion of a refinanced preference share facility. On the back of the commodity price slump and its impact on Exxaro’s... 

Anglo maintains half-year dividend but cautious on 2016 prospects

By: Natalie Greve Despite warning of a tough 12 months ahead and charting its intention to cut over 6 000 jobs across its international asset portfolio, global miner Anglo American has maintained an interim dividend of $0.32 a share for the six months ended June 30. The diversified miner said on Friday that the... 

Improved communication urged as demands from near-mine communities become more strident

By: Ilan Solomons Strategic investments in communities should create value for beneficiaries and investors, global advisory firm KPMG climate change and sustainability global mining leader Rohitesh Dhawan said, stating that, if mining companies followed a strategic approach to corporate social responsibility... 

Improved communication urged as demands from near-mine communities become more strident

Global mining sector raises $80bn-plus in three years despite turbulence

By: Ilan Solomons The past three years have unquestionably been particularly challenging for the mining industry. Nevertheless, in spite of these hardships, the global mining industry continues to attract new funding, says global mining and research company SNL Metals & Mining analyst Chris Galbraith. He says that... 

Global mining sector raises $80bn-plus in three years despite turbulence
SLOW START While the 2013/14 period has been relatively consistent in total funds raised for mining and exploration, 2015 has so far been off to a troubled start

Live fire demonstrations showcase technology

By: Mia Breytenbach To emphasise the importance of adopting effective fire-suppression solutions designed for specific, special fire risks, environmental solutions company I-Cat showcased several fire-suppression technologies, which the company recently introduced to the industry, through live demonstrations last... 

Live fire demonstrations showcase technology
FIREFIGHTING ENHANCEMENT The EXTINGUISHmist sprays only 6 ℓ of water per minute, guaranteeing longer-lasting firefighting capacity of up to four times

South African mining sector seen revolving round digital technologies in the future

By: Ilan Solomons The future of the mining industry in South Africa will revolve around digital developments, asserted University of the Witwatersrand (Wits) School of Mining Engineering lecturer Dr Bekir Genc during his address at the Mining into the Future conference, which took place at the Birchwood Conference... 

South African mining sector seen revolving round  digital technologies in the future
DIGITAL DIVIDENDS Information technologies will help the mining sector achieve its goals of better working conditions and improved mine economics

Platinum bridal jewellery demand up in China, fuel cells powering blocks of flats

By: Martin Creamer Platinum marketing money previously devoted largely to discounts and commissions is now being used to boost platinum jewellery, investment and fuel cell promotion, says Anglo American Platinum (Amplats) CEO Chris Griffith. Bridal platinum jewellery demand is growing in China, platinum demand... 

Platinum bridal jewellery demand up in China, fuel cells powering blocks of flats
Photo by Bloomberg
Platinum investment bars

DNI Metals receives mining licence for Madagascar graphite project

By: Henry Lazenby Project developer DNI Metals has been granted a full commercial mining licence over its Vohitsara graphite project, in Madagascar. Originally classified as an artisanal mining permit when DNI acquired the property in June, the Madagascar Minister for Mines, through the national mining cadastre... 

Molycorp secures court approval for final $130m DIP financing

By: Henry Lazenby Bankrupt US rare earths producer Molycorp on Wednesday proceeded with its Chapter 11 reorganisation process and received court approval for an improved debtor-in-possession (DIP) financing package provided by Oaktree Capital Management. NYSE-listed Molycorp, which billed itself as the only global... 

Gemfields says Montepuez mine to yield rubies for over 20 years

By: Reuters Gemfields said an independent report confirmed that its 75%-owned Montepuez ruby mine in Mozambique has enough reserves to last more than two decades. The Competent Persons Report (CPR), which gives an official estimate of what is considered the largest deposit of rubies in the world, projects... 

South32 warns of $1.9bn impairment, despite posting production records

By: Esmarie Swanepoel Triple-listed diversified miner South32 has reported production records at four of its operations during its first quarter of production since its break from major BHP Billiton. However, the miner has warned of a $1.9-billion asset impairment on its Australian and South African manganese... 

Iron-ore, coal drive BHP FY output up 9% y/y

By: Esmarie Swanepoel Mining heavyweight BHP Billiton has reported a 9% increase in group production for the full-year ended June, driven by higher iron-ore, petroleum and metallurgical coal output. “Our business performed well over the 2015 financial year. We have improved the performance of our equipment, reduced... 

Iron-ore, coal drive BHP FY output up 9% y/y

Women targeted for retrenchment at Optimum a baseless claim – Glencore

By: Martin Creamer Allegations that female employees were being targeted for retrenchment at Optimum colliery were baseless, Glencore said on Wednesday. Female employees make up 15% of the total affected employees. 

At US Capitol, Arizona Apaches protest planned copper mine

By: Reuters Scores of Native American demonstrators protested at the US Capitol on Tuesday against a proposed $6-billion copper mine in Arizona at a site that members of the Apache tribe say is sacred. Members of the San Carlos Apache tribe began a cross-country caravan to Washington this month to persuade... 

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