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Jobs a critical focus for new mines Minister

By: Natasha Odendaal With thousands of mining jobs on the line in South Africa, potential job losses in a pressurised mining sector had become a critical topic at Mineral Resources Minister Mosebenzi Zwane’s first real engagement with the public on Friday. Zwane, appointed Minister late last year, had the difficult... 

Jobs a critical focus for new mines Minister
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

AMCU calls for criminal charges following Barberton mine collapse

By: Megan van Wyngaardt The Association of Mineworkers and Construction Union (AMCU) on Friday called for criminal charges to be brought against the owners and mine management at Vantage Goldfields’ Lily mine, in Barberton, Mpumalanga, after workers became trapped following a fall-of-ground incident earlier on Friday.... 

AMCU calls for criminal charges following Barberton mine collapse

Business warns of power hike ‘vicious cycle’, amid weak demand outlook

By: Terence Creamer Business warned on Friday that South Africa risked entering a “vicious cycle” of ever-increasing yearly electricity hikes, beyond those already approved, owing to the nature of the current tariff-setting formula, which allows Eskom to recover variances in revenue arising when power sales are... 

Business warns of power hike ‘vicious cycle’, amid weak demand outlook
Busa's Martin Kingston at the Nersa hearings

Next Evraz Highveld steps to be outlined on Feb 23 after sale plan fails

By: Terence Creamer The practitioners overseeing business rescue proceedings at Evraz Highveld Steel and Vanadium reported on Friday that the proposed transaction to sell the business as a going concern to International Resources Limited, of China, had failed. In an operational and transaction update, Piers Marsden... 

Next Evraz Highveld steps to be outlined on Feb 23 after sale plan fails

Northam signs R250m subscription agreement with IDC

By: Megan van Wyngaardt JSE-listed Northam Platinum's shares rose by 7.66% on Friday afternoon after it announced that it has entered into a R250-million subscription agreement with the Industrial Development Corporation (IDC), stipulating that the latter would subscribe to new domestic medium-term notes. The proceeds,... 

Coal will be a priority this year, assure sector stakeholders

By: Kim Cloete Key stakeholders in South Africa’s coal industry have affirmed their commitment to boosting the sector’s performance in 2016, despite the current tough times for the commodity, and the economy as a whole. Speaking at the IHS Energy Coal Exports Conference 2016 in Cape Town, Department of Mineral... 

Coal will be a priority this year, assure sector stakeholders
Coal analyst Xavier Prevost

Chamber of Mines calls for policy certainty in the coal sector

By: Kim Cloete Chamber of Mines CEO Roger Baxter has urged government to ensure there is policy certainty in the coal sector, which makes up the highest component of mineral sales in South Africa. “Coal mining needs a predictable, stable and competitive policy and regulatory environment,” he told delegates at... 

Chamber of Mines calls for policy certainty in the coal sector
Photo by Dylan Slater
Chamber of Mines CEO Roger Baxter

Samancor warns of job cuts

By: Megan van Wyngaardt The low chrome ore price has forced Samancor Chrome to consider job cuts, which could affect as many as 280 employees, Solidarity said on Friday. “Despite the implementation of several measures at all our business units, the . . . decrease of the ferrochrome market price has forced us to issue a... 

Central Rand Gold raises £1.22m to continue operations

By: Megan van Wyngaardt South African miner Central Rand Gold (CRG) has raised gross proceeds of £1.22-million, through the proposed issue of 34.5-million new ordinary shares, at an issue price of 3.5p apiece. The proceeds would be used to further its surface mining strategy, identify and source further plant feed... 

Zim repays Implats unit $100m, revenues tumble

By: News24Wire Zimbabwe says it repaid Impala Platinum’s unit in the country about $100-million in overpaid royalties, dragging down earnings from the mineral royalties segment by 110%, the Zimbabwe Revenue Authority (Zimra) said on Thursday, saying this had contributed to a 7% shortfall in 2015 revenue... 

Exploration companies seek alternative funding solutions

By: Megan van Wyngaardt Amid falling demand for commodities, slower economic growth in China and overall sluggishness in global markets, mineral exploration companies are having to find new sources of funding. Speaking to Mining Weekly Online in a telephone interview, London-based law firm Charles Russell Speechlys... 

Exploration companies seek alternative funding solutions

Academic calls for better research on mine water

By: Ilan Solomons Tshwane University of Technology mine water management research chair Dr Chris Wolkersdorfer has called on South African scientific researchers to conduct proper literature studies and improve the overall standard of their research in relation to mine water management matters. Speaking at the... 

Academic calls for better research on mine water
Photo by Duane Daws
TUT mine water managerment research chair Dr Chris Wolkersdorfer

Govt commits billions for revitalisation of mining-dependent communities

By: Ilan Solomons Once a gold mining Mecca, Johannesburg is a prime example of a mining community that has diversified its economy successfully from its reliance on mining to become an “economic powerhouse” on the African continent over the past 100 years, states Department of Performance Monitoring and Evaluation... 

Govt commits billions for revitalisation of mining-dependent communities

Satellite imagery to assist in monitoring illegal mining activities

By: Ilan Solomons Monitoring abandoned mines and illegal mining activities using satellite imagery is now possible, says remediation services provider and subsidiary of the Swiss Foundation for Mine Action, Crosstech director Hansjörg Eberle. Crosstech, as part of the Swiss consortium that also includes software... 

Satellite imagery to assist in monitoring illegal mining activities
NEW VIEWS A key driver of innovation is using satellite imagery, which is becoming increasingly available free of charge

Preliminary results of Joburg seismic study expected in March

By: David Oliveira The preliminary results of the Council for Geoscience’s (CGS’s) seismic microzonation model for Johannesburg are expected to be released by the end of March this year CGS microzonation project manager Michelle Grobbelaar tells Mining Weekly. The seismic microzonation model for Johannesburg... 

Manica sale nears completion - Auroch

By: Esmarie Swanepoel ASX-listed junior Auroch Minerals on Friday said that it was advancing the sale of its Manica gold project, in Mozambique, after buyer Xtract Resources paid a $698 968 bill to the Mozambique government. The payment was made to settle a capital gains tax that was payable on the completion of the... 

Black Mountain buys Uganda projects

By: Esmarie Swanepoel Explorer Black Mountain Resources has inked an agreement with recently established African Phosphate to acquire Namekara Mining Company, which holds a vermiculite mine and a phosphate project in Uganda. Under the terms of the agreement, ASX-listed Black Mountain would acquire Namakera Mining... 

Brazil state says losses from Samarco accident at 1.2bn reais

By: Reuters Brazil's Minas Gerais state said on Thursday the November dam burst in an installation operated by miner Samarco caused losses to municipalities estimated at 1.2-billion reais ($308-million), not considering the environmental problems. The state government released a detailed report containing an... 

Cameco reports Q4 net loss

By: Henry Lazenby Canada’s largest uranium producer Cameco on Friday reported a fourth-quarter loss of C$10-million, or C$0.03 a share, C$83-million less than in the comparable quarter of 2014, as the company booked a higher impairment charge and the weaker Canadian dollar weighed on the bottom line. Excluding... 

Secova appoints geology engineer to board as winter exploration programme gets underway

By: Henry Lazenby Junior explorer Secova Metals has appointed geology engineer Pierre-Jean Lafleur to its board and to manage the exploration programme at its Duvay gold project, in Amos, Quebec. Lafleur brought with him access to some of the top geologists and technology in the Quebec gold exploration resource... 

Triple digits in the forecast for silver as supply tightens

By: Henry Lazenby Analysts are bullish on the upside for silver, saying the possibility of triple-digit prices for the grey metal is not out of the realm of possibility. A panel of silver-industry experts recently discussed the prospects for the precious metal in Vancouver, sketching a somewhat positive outlook as... 

Triple digits in the forecast for silver as supply tightens

Ok Tedi board approves PNG copper mine restart from March 1

By: Reuters Papua New Guinea copper miner Ok Tedi Mining Ltd said its board has approved a restart of its operations on March 1, more than five months after the mine was put on care and maintenance when drought cut off its transport links. The move will bring further metal to a copper market which is... 

Rising use of platinum fuel cells

By: Creamer Media Reporter Creamer Media's Sashnee Moodley speaks to Mining Weekly editor Martin Creamer about the benefits and rising use of platinum fuel cells. 

Rising use of platinum fuel cells

Whitehaven swings to interim profit, output hits record

By: Esmarie Swanepoel Coal miner Whitehaven Coal has posted an interim profit after a 54% surge in revenue on the back of record run-of-mine (RoM) output. ASX-listed Whitehaven on Friday reported net profit of A$7.8-million for the six months to the end of December, compared with a loss of $77.9-million in the... 

Whitehaven swings to interim profit, output hits record

Metals X completes Comet buy

By: Esmarie Swanepoel ASX-listed Metals X has completed the A$3-million acquisition of the Comet assets, in Western Australia, from gold miner Silver Lake Resources. The deal was struck in November last year, and consisted of an all-cash consideration. 

Metro extends takeover period for Gulf

By: Esmarie Swanepoel Bauxite developer Metro Mining has extended the takeover period of its offer for unlisted Gulf Alumina from February 15 to March 15. Metro in December of last year launched a takeover offer for Gulf Alumina, offering Gulf shareholders 3.3 new Metro shares for every one gulf share held. 

Crusader joins the lithium hunt in Brazil

By: Esmarie Swanepoel Junior explorer Crusader Resources has signed a memorandum of understanding (MoU) with Lepidico to establish a joint venture (JV) to hunt for lithium projects in Brazil. The JV would operate on a 50/50 basis and would have exclusive rights in Brazil to Lepidico’s L-Max technology, which in... 

VanadiumCorp to target N American vanadium electrolyte market

By: Henry Lazenby TSX-V-listed VanadiumCorp would target the primary vanadium electrolyte (VE), vanadium chemicals and the vanadium pentoxide (V2O5) markets to maximise competitive advantage, as it embarks on a preliminary economic assessment (PEA) for its 100%-owned Lac Dore project, in Quebec. The company... 

Mongolia OKs Centerra’s Gatsuurt project, takes 34% stake

By: Henry Lazenby The Mongolian Parliament has passed a resolution giving the green light for TSX-listed Centerra Gold’s Gatsuurt project to be developed, ending a five-year impasse on the project’s permitting and authorising the government to complete negotiations with Centerra on the terms of project ownership.... 

Mexican tax authority takes unprecedented action to rescind Primero tax agreement

By: Henry Lazenby The TSX-listed stock of Canadian precious-metals producer Primero Mining fell almost 30% on Thursday after it announced that its Mexico-focused subsidiary had received an unprecedented legal claim from Mexican tax authorities seeking to nullify a 2012 advance pricing agreement (APA), which... 

Kyrgyzstan may sue Centerra Gold over stake dilution

By: Reuters Kyrgyzstan may sue Canada's Centerra Gold over its plans to issue additional shares, which will dilute the Central Asian nation's stake slightly, a Kyrgyz representative on Centerra's board said on Thursday. "Our goal is to protect Kyrgyzstan's stake," said board member Kylychbek Shakirov. 

Suncor reports C$2bn net loss as it weathers low crude oil price environment

By: Henry Lazenby Canadian oil producer Suncor Energy on Wednesday reported a net loss for the fourth quarter ended December 31 of C$2-billion, or C$1.38 a share, as the Canadian oil industry buckled under American benchmark oil prices that reached below $50/bl for the period. This was compared with net earnings... 

Suncor reports C$2bn net loss as it weathers low crude oil price environment
Photo by Bloomberg
A Suncor upgrader near Fort McMurray, Alberta

Chamber of Mines joins opposition to Eskom’s proposed tariff increase

By: Anine Kilian The Chamber of Mines (CoM) has joined the ranks of industry stakeholders concerned about State-owned power utility Eskom’s R22-billion Regulatory Clearing Account (RCA) application to the National Electricity Regulator of South Africa (Nersa) in respect of 2013/14. “This application is over and... 

Chamber of Mines joins opposition to Eskom’s proposed tariff increase
Chamber of Mines CEO Roger Baxter

Eskom worried about S Africa’s rising coal costs 

By: Kim Cloete Power utility Eskom is concerned about the rising cost of coal in South Africa and has called for greater competition in the industry. “Coal costs have increased sharply. Our coal costs are too high. We need to make sure we focus on creating more competition and bring down coal inflation,” said... 

S&P cuts Glencore's credit rating, outlook stable

By: Reuters Standard & Poor's downgraded commodities trader and miner Glencore's credit rating on Thursday, citing a slump in commodities prices and uncertainty about metals demand. S&P cut Glencore's credit ratings to BBB-/A-3 from BBB/A-2, with a stable outlook. 

Modest Q3 expansion for global gold hedging book

By: Megan van Wyngaardt Gold mining companies increased their global producer hedge book by 0.50-million ounces during the third quarter of 2015 – a modest expansion according to Thomson Reuters GFMS and Societe Generale. The duo’s Global Gold Hedge Book Analysis Q3 2015 reports that the fresh hedging that brought about... 

Modest Q3 expansion for global gold hedging book

Zambia resumes issuance of new mining licences suspended in August

By: Reuters Zambia has resumed the issuance of new mining licences, renewal and transfer of rights which it suspended in August last year, its mines minister said on Thursday. Mines minister Christopher Yaluma said the government had since the suspension established new licensing regulations to improve the... 

Independent power solution now ‘critical’ to Saldanha steel mill's survival 

By: Terence Creamer ArcelorMittal South Africa (AMSA) revealed on Thursday that it was reviewing the future business case of its Saldanha Works, in the Western Cape, where the steel mill’s viability had come under severe pressure as a result of persistent electricity price increases. The warning over the mill’s... 

Independent power solution now ‘critical’ to Saldanha steel mill's survival
Photo by Duane Daws
Outgoing AMSA CEO Paul O’Flaherty

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