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Diversified Miners News

Time for govt to consider new strategies to get economic growth going, says Baxter 

By: Marleny Arnoldi     21st February 2020 In what has been the longest economic downturn for the country since 1945, it has become necessary for government to consider alternative strategies and change various policies to allow business to grow the economy, Minerals Council South Africa CEO Roger Baxter said during a media briefing on... 

Solar power for mines under consideration – Assore 

By: Martin Creamer     21st February 2020 A scoping study is under way into the self-generation of electricity for Assmang’s mines – but not its smelters, Assore CEO Charles Walters said on Friday, when the company reported interim results that were negatively affected by weaker chrome and manganese prices, and lower shipments of... 

Solar power for mines under consideration – Assore
Photo by Assore
Assore's mines and logisitcs routes

Rio Tinto’s lone female board member to be joined by three more women

By: Bloomberg     21st February 2020 Rio Tinto Group will add three more women to its board over the course of this year, bringing the total to four out of 12 directors. Hinda Gharbi, a vice president at Schlumberger, and JPMorgan Chase & Co.’s Jennifer Nason will become independent non-executive directors on March 1, the company... 

Teck profit slumps on lower coal prices; flags virus hit

By: Reuters     21st February 2020 Canadian miner Teck Resources reported a 76% slump in fourth-quarter adjusted profit on Friday, hurt by lower prices for steelmaking coal and warned that the coronavirus epidemic would impact its earnings. Copper and other base metal prices have suffered from a long-drawn tariff war between the... 

Teck profit slumps on lower coal prices; flags virus hit
Teck Resources CEO Don Lindsay

Eskom’s survival cannot be based on continuing tariff increases, says Minerals Council

By: Marleny Arnoldi     21st February 2020 The Minerals Council South Africa has reiterated the significant job losses that may result from power utility Eskom being granted the additional R27.3-billion in revenue it is seeking. In a media release issued ahead of a submission at public consultations held by the National Energy Regulator... 

Eskom’s survival cannot be based on continuing tariff increases, says Minerals Council
Photo by Creamer Media
Minerals Council South Africa chief economist Henk Langenhoven

Price-hit Assore half-year earnings down, interim dividend upheld 

By: Martin Creamer     21st February 2020 JSE-listed base mineral and metals miner Assore, which on Friday reported net cash at a lower level of R8.1-billion, has declared an interim dividend of R7 a share for the half-year. Headline earnings for H1 FY20 decreased by 28% to R2,1 billion, compared to R2,9 billion for the H1 FY19. Assmang,... 

Price-hit Assore half-year earnings down, interim dividend upheld
Photo by Creamer Media
Charles Walters

Policy review could improve investor confidence

By: Darren Parker     21st February 2020 Mining consulting firm The MSA Group is hoping that the review of Namibia’s Minerals (Prospecting and Mining) Act will enhance the country’s “friendliness” toward mining investors. The MSA Group principal consultant Mike Robertson says the 1992 legislation has been under review since 2018.... 

Policy review could improve investor confidence
DRIVING INVESTMENT Namibia’s reliable transport infrastructure, despite the remote nature of many sites of mineral interest, is attractive to investors

Namibian policy uncertainty a concern

By: Darren Parker     21st February 2020 A key issue creating uncertainty among Namibia’s mining investors is the non-deductibility of royalties and export levies for non-diamond mining, which was announced during the Namibian 2019/20 Budget Speech by Namibian Finance Minister Calle Schlettwein, presented to Namibia’s Parliament in... 

Namibian policy uncertainty a concern
VESTON MALANGO The effect of the non-deductibility of royalties is double taxation, which erodes project viability for new mines or planned expansion of activities

Copperbelt spells opportunity for firm

By: Darren Parker     21st February 2020 Superior, modern exploration techniques have resulted in a surge of interest in the Kalahari Copperbelt in recent years, with the uptick in the 2019 year-end copper price spurring exploration activity. The Kalahari Copperbelt, which is regarded as one of the world’s most promising underexplored... 

Copperbelt spells opportunity for firm
BELT OF POTENTIAL The 1 000 km long Kalahari Copperbelt Is regarded as one of the world’s most promising underexplored copper provinces

Short-termism hinders project management

By: Khutso Maphatsoe     21st February 2020 Developing strategies is much easier than implementing them, which is why many strategies are never successfully implemented, says University of Pretoria (UP) Graduate School of Technology Management project management specialist Professor Herman Steyn. He adds that project portfolio management... 

Short-termism hinders project management
GET THE JOB DONE project portfolio management is an effective way of implementing company strategy through projects

Alternative energy developments at Amplats, Sibanye 

20th February 2020 Mining Weekly editor Martin Creamer unpacks the alternative energy developments at Anglo American Platinum and Sibanye Stillwater. 

Alternative energy developments at Amplats, Sibanye
Alternative energy developments at Amplats, Sibanye

Anglo’s earnings margins poised to strengthen – Cutifani 

By: Martin Creamer     20th February 2020 The strong 2019 earnings margins of Anglo American are poised to strengthen further in 2020, CEO Mark Cutifani said on Thursday. The 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda) margins of the London- and Johannesburg-listed diversified mining company ranged from... 

Anglo’s earnings margins poised to strengthen – Cutifani
Photo by Anglo American
Anglo American calculates that these earnings margins will increase in 2020.

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani 

By: Martin Creamer     20th February 2020 Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company. Hydrogen fuel cell... 

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani
Photo by Anglo American
Four-part forward thrust.

Exxaro seeks buyers for ECC, Leeuwpan

By: Creamer Media Reporter      20th February 2020 Diversified miner Exxaro Resources has issued a request for expressions of interest (EoIs) from parties interested in potentially acquiring Exxaro Coal Central (ECC) and the Leeuwpan coal mine. This follows the conclusion of an internal portfolio review to evaluate and optimise the group's... 

Anglo delivers $3.5bn profit, declares final dividend 

By: Martin Creamer     20th February 2020 Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Wits DigiMine to host digital mining technology seminar in April

By: Tasneem Bulbulia     19th February 2020 The Wits Mining Institutes’ (WMI’s) Digital Mining Laboratory, DigiMine, will host a seminar on digital mining technology from April 7 to 9 at the University of the Witwatersrand Club. The seminar is expected to shed light on digital technology trends within the mining industry and will be... 

Wits DigiMine to host digital mining technology seminar in April
DigiMine

Vedanta’s Naidoo calls for increased female representation in mining

By: Simone Liedtke     19th February 2020 Vedanta Zinc International CEO Deshnee Naidoo has called on the South African mining industry to “change the gender narrative” and to engage in conversations about the lack of female representation in the industry. According to recently published statistics by the Minerals Council South Africa,... 

Vedanta’s Naidoo calls for increased female representation in mining
Vedanta Zinc International CEO Deshnee Naidoo

Altus shareholders give go ahead for La Mancha deal

By: Marleny Arnoldi     19th February 2020 Aim- and TSX-V-listed Altus Strategies on Wednesday said its shareholders had approved all resolutions to effect the proposed strategic investment by mining investment group La Mancha Holding in the company. Altus will issue about 124-million new ordinary shares at a price of C$0.09 apiece to... 

South Africa’s Astron ‘a nice short to have for the trading business’ – Glencore 

By: Martin Creamer     18th February 2020 Glencore CEO Ivan Glasenberg on Tuesday described his company’s investment in Astron Energy oil refinery and fuel distribution station business in South Africa as “a nice short to have for the trading business”. The Chevron oil refinery in Cape Town and the Caltex brand now fall under Astron... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

BHP CEO says company needs more copper, nickel

By: Reuters     18th February 2020 BHP Group will be looking to expand in copper and nickel to position itself well in a world that is decarbonising, new chief executive Mike Henry said on Tuesday. "We need more copper and we need more nickel," Henry told reporters after saying that the company would need to create more options... 

BHP CEO says company needs more copper, nickel
BHP CEO Mike Henry

BHP reports solid results for interim period

By: Esmarie Iannucci     18th February 2020 Diversified miner BHP has reported a 20% interest in profits after tax and a 7% increase in revenue for the half year ended December. “We delivered a strong set of half-year results, grounded in solid operational performance,” said CEO Mike Henry on Tuesday. 

BHP reports solid results for interim period

Katoro hopes to sell subsidiary soon, continues to explore Tanzanian deposit

By: Marleny Arnoldi     14th February 2020 Aim-listed gold and nickel project developer Katoro Gold has been pursuing various project opportunities to benefit the company and advance what it says is a transformational phase for the company. Subject to funding being secured, the company’s tailings exploitation joint venture with South... 

Commission finds in favour of Enaex, Sasol Explosives merger

By: Marleny Arnoldi     14th February 2020 The Competition Commission has unconditionally approved a proposed merger whereby international explosives distributor Enaex intends to acquire JSE-listed petrochemicals company Sasol’s Explosives business. Enaex commercialises, distributes and manufactures explosives and blasting agents. It... 

Gold miners go green  

14th February 2020 Gold miners are making green additions to their operations. Mining Weekly editor Martin Creamer unpacks Harmony Gold's 30 MW solar plant, Gold Fields' Australian wind turbine and DRDGold's clean up operation in Johannesburg. 

Gold miners go green
Gold miners go green

Angola seeks to make itself a more mining-friendly jurisdiction

By: Rebecca Campbell     14th February 2020 Angola will this year initiate a new governance system for the country’s mining industry, the country’s Mineral Resources and Petroleum Minister, Diamantino Azevedo, confirmed at the recent Investing in African Mining Indaba in Cape Town. The new system will include the new National Agency for... 

New focus implies decarbonisation assent

By: Mamaili Mamaila     14th February 2020 In its seventh year, the 2019 Energy and Mines World Congress marked a “historic shift in conversations about energy in mining”, says Energy and Mines director Adrienne Baker. 

New focus implies decarbonisation assent
NICK HOLLAND The Gold Fields CEO and congress keynote speaker committed to reducing emissions by 800 000 t from 2017 to 2020

Integrated approach can ease load-shedding risks

By: Natasha Odendaal     14th February 2020 As South Africa’s industry bears the brunt of devastating power cuts, Zest WEG, the South African subsidiary of Brazilian motor and controls manufacturer WEG, is encouraging mining companies to start adopting integrated, holistic solutions that will reduce energy consumption while diversifying... 

Commodity prices tumble South32 profits

By: Esmarie Iannucci     13th February 2020 Diversified miner South32 has reported a 84% fall in profits for the half year ended December, as well as a 16% fall in revenue, compared with the previous corresponding period, as commodity prices tumbled and on the back of a temporary increase in the company’s underlying effective tax rate.... 

Commodity prices tumble South32 profits
South32 CEO Graham Kerr

Resources Watch 

13th February 2020 Urgent steps needed to revive South Africa’s economy; Baxter discusses mining industry's electricity self-generation plan; and, Minerals Council South Africa lobbying strongly for junior miners 

Resources Watch
Resources Watch

Minerals Council calls for an end to SOE bailouts

By: Marleny Arnoldi     12th February 2020 Although President Cyril Ramaphosa is being buffeted by many perspectives from a range of constituencies, the Minerals Council South Africa says it is pleased that he signals clear direction and action on critical issues in the country. Thursday night’s State of the Nation Address and the... 

Vedanta sets sights on zinc, silver, iron-ore output growth 

By: Kim Cloete     12th February 2020 CAPE TOWN (miningweekly.com) – Natural resources company Vedanta Resources is aiming to become the world's biggest producer of zinc, as well as to double its production of silver and increase its iron-ore output from 10-million to 15-million tonnes a year.  Vedanta has a presence in steel,... 

Vedanta sets sights on zinc, silver, iron-ore output growth
Vedanta Resources executives tell Mining Weekly correspondent Kim Cloete about the group's growth plans and its corporate social investment initiatives. Video and editing: Nicholas Boyd.

Wodgina deal hits MinRes bottom line

By: Esmarie Iannucci     12th February 2020 ASX-listed Mineral Resources has reported a more than 2 000% increase in earnings before interest, tax, depreciation and amortization (EBITDA) for the six months ended June, as its $1.15-billion deal with US major Albamarle affected the bottom-line. Mineral Resources last year struck the... 

Glencore signs five-year cobalt supply deal with Samsung SDI 

By: Marleny Arnoldi     10th February 2020 Global diversified miner Glencore has entered into a five-year cobalt hydroxide supply agreement with rechargeable battery manufacturer Samsung SDI. Glencore will supply up to 21 000 t of cobalt contained in cobalt hydroxide between 2020 and 2024.  

In-house renewable energy could be a boon for South African mines, says SRK

By: Tasneem Bulbulia     7th February 2020 With their recent profitability buoyed by price improvements in certain commodities, some South African miners may consider investing part of their windfall gains to create their own renewable energy generating capacity, and according to consultancy SRK Consulting director and principal... 

Mining sector found to be highly exposed to water risks 

By: Natasha Odendaal     7th February 2020 The mining sector has come out tops as the industry most likely to be affected most by the world’s worsening water crises, and South Africa’s mining sector is not immune. The World Wide Fund for Nature (WWF) has warned of the water risks facing the mining industry after an exhaustive analysis of... 

Mining sector found to be highly exposed to water risks

Exxaro, Bell partner up to enhance supplier development offering 

By: Simone Liedtke     7th February 2020 Empowered resources company Exxaro Resources has signed a memorandum of understanding (MoU) with equipment dealer Bell Equipment Sales South Africa (Bessa) to enhance the offering of its enterprise and supplier development (ESD) programme. The MoU, intended to formalise a partnership within its... 

Exxaro, Bell partner up to enhance supplier development offering
Exxaro stakeholder affairs executive head Mzila Mthenjane and Bell Equipment MD Duncan Mashika.
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