http://www.miningweekly.com
R/€ = 14.88 Change: 0.00
R/$ = 12.10 Change: 0.00
Au 1335.58 $/oz Change: -5.52
Pt 927.50 $/oz Change: -4.49
 

Diversified Miners News

Flare-gas-harnessing solution to be on show at Infacon XV

By: Nadine James     23rd February 2018 Swedish clean technology company Ripasso Energy will be presenting its PWR BLOK 400-F solution to the international ferroalloys industry at the fifteenth International Ferro-Alloys Congress (Infacon XV), which is taking place at the Century City Conference Centre in Cape Town, from February 25 to... 

Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in SA

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring worldwide for new opportunities and countries scrutinised for their investment attractiveness and monitored in terms of economic growth, currently, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining... 

Nigerian mining’s GDP contribution seen increasing  sixfold to 3%, cautious optimism takes hold in SA

Digitalisation to impact on every aspect of mining – Schneider

By: Dylan Slater     23rd February 2018 Of all the trends impacting on the mining industry, none will be as critical as digitalisation, says power management and automation systems Schneider Electric South Africa mining, minerals and metals (MMM) Africa business VP Wilhelm Swart.  

Restructured Anglo American reaps benefits, posts solid FY17 results

By: Simone Liedtke     22nd February 2018 After an extensive restructuring, diversified miner Anglo American raised its dividend for the 2017 financial year to $1.02 a share - its highest dividend in nearly a decade. The "fundamentally different business" nearly halved its debt to $4.5-billion and doubled its free cash flow by 93% to... 

Restructured Anglo American reaps benefits, posts solid FY17 results
Diversified miner Anglo American

Striking Gupta mineworkers demand answers about their future 

By: News24Wire      22nd February 2018 Striking mineworkers at Gupta-owned Optimum Coal Mine have demanded to know the "truth of the sale" of the mine. Workers downed tools on Wednesday morning, saying there was uncertainty over their jobs and the future of the mine. 

Striking Gupta mineworkers demand answers about their future
Ajay Gupta

BHP won't move Singapore marketing hub even if Australia cuts tax – CEO

By: Reuters     22nd February 2018 BHP Billiton will not move its low tax-paying Singapore marketing hub even if Australia goes ahead with plans to cut corporate taxes, CE Andrew Mackenzie said on Thursday. BHP's Singapore office is the focus of a long-running fight with Australia's tax office, which argues the company is... 

BHP won't move Singapore marketing hub even if Australia cuts tax – CEO
BHP CEO Andrew Mackenzie

Miners rich in cash are aiming for fat dividends, debt payments

By: Bloomberg     21st February 2018 The mining industry is awash with cash, and so far it’s got two main uses - pay down debt and reward investors. Three of the big four London-listed miners have released earnings this month, and it’s clear the companies are doing what shareholders have demanded of them.  

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa

By: Martin Creamer     21st February 2018 Diversified mining and marketing company Glencore shot the lights out with a superlative set of 2017 results that coincided with a leap in its share price in Johannesburg, the reaffirmation of South Africa as an even more positive investment destination, and the mulling of a dividend "top up"... 

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa
Photo by Duane Daws
Flashback to Ivan Glasenberg opening Glencore-funded school in South Africa's coalfields.

Southern Copper wins tender for Peru's mine

By: Reuters     20th February 2018 Southern Copper won a tender to develop Peru's estimated $2-billion Michiquillay copper mine in an auction that attracted just two bidders, the government's Proinversion investment agency said on Tuesday. Southern, controlled by Grupo Mexico , won with a proposal to transfer $400-million to the... 

After 2017 consolidation, mining to pre-empt future metals demand – EY

By: Schalk Burger     20th February 2018 With stronger balance sheets across the mining and metals sector, miners are increasingly returning to an investment-led strategy, which is driving a renewed focus on building portfolios that deliver sustainable shareholder returns, says multinational consultancy Ernst & Young (EY). The focus... 

After 2017 consolidation, mining to pre-empt future metals demand – EY

BHP CEO says to meet activist investor Elliott this week

By: Reuters     20th February 2018 BHP Billiton CEO Andrew Mackenzie said he will be meeting with activist investor Elliott Advisors this week, among others, and will be discussing their call for BHP to scrap its dual listing in the UK. Mackenzie said he wants to hear all investors' views on the dual listed structure and is open... 

BHP rewards shareholders, profit jumps 25% on commodity prices

By: Mariaan Webb     20th February 2018 Higher commodity prices have helped the world’s largest diversified mining group to report a 25% increase in its underlying attributable profit and to reward shareholders with higher interim dividends. Melbourne-headquartered BHP grew its underlying attributable profit from $3.24-billion in the... 

BHP rewards shareholders, profit jumps 25% on commodity prices
BHP CEO Andrew Mackenzie

Xtract concludes Manica hard rock collaboration agreement

By: Simone Liedtke     19th February 2018 The board of London-based diversified metals and minerals producer Xtract Resources has concluded a further collaboration agreement with Omnia Mining for the exploitation of the hard rock gold deposits at Xtract's Manica mining concession in Mozambique. This, however, excludes the hard rock gold... 

Court postponement signals ‘welcome change’ in govt, industry relations – Leon

By: Dylan Slater     19th February 2018 Law firm Herbert Smith Freehills Africa practice cochairperson and partner Peter Leon says the postponement of Monday’s scheduled High Court case over the hotly contested Mining Charter 3, signals a welcome change in relations between government and the South African mining industry.  

Bauba launches Moeijelijk underground chrome development

By: Anine Kilian     19th February 2018 JSE-listed Bauba Platinum officially launched the underground development phase of its Moeijelijk chrome mine, in Limpopo, on Friday. Speaking to Mining Weekly Online, CEO Nick van der Hoven said the mine, which is set to create about 400 direct and indirect jobs by December, has already started... 

Bauba launches Moeijelijk underground chrome development
Photo by Duane Daws
Bauba CEO Nick van der Hoven

Mining sector unloved as investors find it hard to trust

By: Reuters     17th February 2018 Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took... 

South32 appoints chief technology officer

By: Simone Liedtke     16th February 2018 Vanessa Torres, who has over 25 years of experience in the mining and metals sector, has been appointed chief technology officer at diversified miner South32. "We see technology as a key enabler in driving safety and production improvements at our operations, and Vanessa's knowledge and... 

Mining mechanisation could create ‘massive’ employment challenges – Harwood 

By: Nadine James     16th February 2018 Despite positive sentiment and improving commodity prices, the African mining industry continues to face immense challenges, says Montero Mining and Exploration CEO Dr Antony Harwood. Addressing the African Mining Network’s (AMN’s) thirty-ninth networking dinner, on Thursday evening, he touched... 

Mining mechanisation could create ‘massive’ employment challenges – Harwood
Photo by Duane Daws
ANTONY HARWOOD Fear of the other could become fear of the robot

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

Top banks' 2017 commodities revenue drops 42% to lowest since 2006

By: Reuters     16th February 2018 Commodities-related revenue at the 12 biggest investment banks fell by 42% last year to its lowest since at least 2006, a report by financial industry analytics firm Coalition said on Friday. 

Attendees set to return to PDAC 2018 Convention

By: Donald Makhafola     16th February 2018 More than 24 000 attendees, including investors and exhibitors from 130 countries, are expected at industry organisation the Prospectors and Developers Association of Canada's (PDAC's) annual PDAC International Convention, Trade Show and Investors Exchange, in Toronto, Canada, from March 4 to 7.... 

Attendees set to return to  PDAC 2018 Convention
CURRENT TRENDS Thousands of delegates, including exhibitors and investors, are expected at this year's Prospectors & Developers Association of Canada convention

Satellite solutions provider targets African mining industry

By: Nadine James     16th February 2018 Over the last 18 months, communications service provider SES Networks has noticed significant demand for connectivity from mining and oil and gas operations, and as a result has tried to grow its foothold within these markets. SES Networks Africa Sales VP Carole Kamaitha explains that the demand... 

‘Digital mine’ solution for local market launched

By: Dylan Slater     16th February 2018 In tandem with the yearly mining investment conference Investing in African Mining Indaba, digital industrial company GE launched its global Digital Mine solution onto the South African market.  

There is new energy to ease mining industry conflict – Scholes

By: Mia Breytenbach     16th February 2018 There appears to be new political resolve to mend the relationship between the mining industry and the Department of Mineral Resources, says specialised law firm Malan Scholes director Hulme Scholes. Speaking at the IHS Markit South African Coal Export Conference, in Cape Town, on Thursday, the... 

There is new energy to ease mining industry conflict – Scholes
Photo by Duane Daws
HULME SCHOLES For the first time . . . we will see the trust deficit between the mining industry and department close

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 The global equity markets have been extremely volatile in recent weeks, extending a frantic selloff in US stocks that culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

South32 announces special dividend after stronger-than-expected H1

By: Simone Liedtke     15th February 2018 Diversified miner South32 will return more money to shareholders, after reporting a stronger-than-expected $543-million underlying profit for the first half of the 2018 financial year. This meant that dividends to shareholders would be doubled. 

South32 announces special dividend after stronger-than-expected H1
Photo by Duane Daws
South32 CEO Graham Kerr

Botswana Diamonds starts exploration work at Botswana JV, maintains exploration optimism

By: Mia Breytenbach     13th February 2018 Aim-listed Botswana Diamonds has started exploration work on the Sunland Minerals joint venture (JV), which it shares with Russian diamond producer Alrosa, in Botswana. The objective of the exploration programme is to follow up on 15 previously identified priority geophysical targets in PL232-235... 

Botswana Diamonds starts exploration work at Botswana JV, maintains exploration optimism
Photo by Duane Daws
Botswana Diamonds MD James Campbell

BHP expects $1.8bn tax charge, says US reform beneficial in long run

By: Mariaan Webb     13th February 2018 The world’s largest diversified mining group BHP has flagged a $1.8-billion income tax expense as a result of the US Tax Cuts and Jobs Act, which will lower the country’s federal corporate income tax rate. The tax expense will be treated as an exceptional item, and comprises a noncash measurement... 

BHP expects $1.8bn tax charge, says US reform beneficial in long run
The Shenzi operation in the Gulf of Mexico, offshore from Louisiana.

Exxaro to pay special dividend of R4.5-billion

By: Simone Liedtke     13th February 2018 Diversified miner Exxaro Resources has resolved to pay a special dividend of R4.5-billion out of income reserves following the sale of a portion of its interest in US mineral sands producer Tronox. Exxaro in October 2017 sold about 22.4-million shares in Tronox for R6.5-billion. 

Mugabe's fall has veteran miners jockeying for Zimbabwe comeback

By: Bloomberg     13th February 2018 Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds. Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London... 

First Quantum lifts Cobre Panama capacity 15%; swings to FY17 loss

By: Henry Lazenby     13th February 2018 Base metals producer First Quantum Minerals will expand the capacity of its massive Cobre Panama copper project, in Panama, by 15% to 85-million tonnes a year. The Toronto-based miner on Monday also said it has sanctioned upgrades to certain areas to accommodate a further capacity expansion to... 

First Quantum lifts Cobre Panama capacity 15%; swings to FY17 loss
Photo by First Quantum Minerals
First Quantum's Kanshanshi mine, Zambia

Top mining companies' value increased by 15.5% y/y

By: Megan van Wyngaardt     12th February 2018 The 25 top global mining companies were worth an aggregate $818.2-billion at the end of January, a 15.5% increase compared with their value in the corresponding month in 2017, when the same companies held a value of $708.5-billion, research firm S&P's Global Market Intelligence said on Monday. A... 

MCA says trade data underscores mining’s importance to Australian economy

By: Anine Kilian     9th February 2018 Trade data from the Australian Bureau of Statistics released this week has again confirmed the importance of the mining industry to the Australian economy and the continuing benefits of the mining boom, the Minerals Council of Australia (MCA) said on Friday. The data shows that in 2017,... 

Mining Indaba unpacked  

     9th February 2018 The 2018 Mining Indaba kicked off in full swing this week with renewed investor confidence and hope to further the African Agenda. Mining Weekly editor Martin Creamer attended the indaba and gives Creamer Media's Sashnee Moodley the headlines. 

Mining Indaba unpacked
Martin Creamer unpacks the Mining Indaba (Camera & editing: Nicholas Boyd)

Fourth month of continuous growth for Deloitte WA Index

     9th February 2018 The Deloitte WA Index climbed marginally higher in the first month of 2018, as the market capitalisation of Western Australia-listed companies increased by 0.48% to close out January at A$181.83-billion. This marks the fourth month of continuous growth, Deloitte clients and markets partner for... 

Fourth month of continuous growth for Deloitte WA Index

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

Bushveld to focus on growth at vanadium, coal assets this year 

By: Mia Breytenbach     9th February 2018 Following the achievement of significant development milestones during 2017, integrated vanadium producer Bushveld Minerals will focus on enhancing growth at its vanadium and coal assets this year. “There is a unique window of opportunity for the company to position itself as a large, vertically... 

Bushveld to focus on growth at vanadium, coal assets this year
Bushveld Minerals CEO Fortune Mojapelo discusses the strides made in the company’s portfolio in 2017 and outlines the company’s future growth plans. Camerawork: Nicholas Boyd.

Political shifts lift investor mood in Southern African mining

By: Reuters     8th February 2018 Mining is a long-term game, but in Southern Africa dramatic political changes have transformed the investment mood for the better in the space of a year. Angola's Jose Eduardo dos Santos and Zimbabwe's Robert Mugabe stepped down in 2017 after a combined 75 years in office, while the election of... 

Latest News

more

Latest Videos

more

Press Office

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close