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Commission study shows only 47% alignment between Budget and NDP

By: Terence Creamer A preliminary analysis conducted by South Africa’s second National Planning Commission (NPC) of the current alignment between the country’s Budget and the National Development Plan (NDP) shows there to be only a 47% correlation. Nevertheless, Minister in the Presidency Jeff Radebe, who is NPC... 

Commission study shows only 47% alignment between Budget and NDP
NPC deputy chairperson Professor Malegapuru Makgoba

Modernisation at heart of new State-backed local mining equipment body

By: Martin Creamer The modernisation of South Africa’s mines and the extension of their lives are at the heart of a new government-backed local manufacturing body that will have access to a State-owned developmental cluster location, where joint development initiatives are envisaged. The new organisation – Mining... 

Modernisation at heart of new State-backed local mining equipment body
Photo by Duane Daws
Anton Wheeler (right) with Martin Creamer

Commodity shock knocks Africa’s growth prospects – World Bank

By: Terence Creamer The World Bank has lowered its 2016 growth forecast for Africa to 3.3%, from 4.2% previously, after the continent expanded by only 3% in 2015; the slowest pace of growth since the 2009 global financial crisis and well below the 6.8% levels experienced by the continent between 2003 and 2008. The... 

Commodity shock knocks Africa’s growth prospects – World Bank
World Bank senior economist for South Africa Marek Hanusch

Govt intent on creating incentives for mines to benefit from platinum fuel-cell investment

By: Martin Creamer The South African government is intent on creating incentives for mines to derive greater benefit from investing in platinum fuel-cell technology. Science and Technology Minister Naledi Pandor, who spoke at the launch by Impala Platinum (Implats) of a fuel cell forklift and hydrogen refuelling... 

Govt intent on creating incentives for mines to benefit from platinum fuel-cell investment
Photo by Duane Daws
Naledi Pandor at Implats fuel cell, hydrogen refuelling station

Master Drilling maintains eye on growth as strategy gains traction

By: Natasha Odendaal JSE-listed Master Drilling continued to pursue its geographic, commodity and business diversification strategy throughout 2015, with gains expected to start being realised in the coming year. The company had set the platform with the acquisition of a Sweden-based company and its Chilean... 

Master Drilling maintains eye on growth as strategy gains traction
Master Drilling CEO Danie Pretorius

Implats boosts fuel cell outlook at impressive launch

By: Martin Creamer Platinum mining company Impala Platinum (Implats) on Thursday unveiled a hydrogen fuel cell forklift and hydrogen refuelling station in the presence of Science and Technology Minister Naledi Pandor and Gauteng Premier David Makhura at the Impala Refineries in Springs. The R12-million initiative,... 

Implats boosts fuel cell outlook at impressive launch
Photo by Duane Daws
Terence Goodlace, Naledi Pandor, David Makhura at launch of mobile fuel cell, hydrogen station

Diamond market back in sync in 18 to 24 months – Bristow

By: Martin Creamer A combination of clean-out and restructuring of the mid-market occupied by cutters and polishers, and the commendable supply constraint exercised by major producers, will combine to put the global diamond market back in sync in the next 18 to 24 months, diamond consultant Dr John Bristow... 

Diamond market back in sync in 18 to 24 months – Bristow
Photo by Duane Daws
Dr John Bristow (right) and Martin Creamer

Platinum miners head for pay talks in difficult environment

By: Martin Creamer Price-pressured platinum-mining companies are heading for wage talks burdened by the low dollar prices of their basket of platinum-group metals (PGMs) that even the weak rand has been unable to increase meaningfully. “We’ve got to make sure this year’s wage increases aren’t unsustainable given... 

Platinum miners head for pay talks in difficult environment
Photo by Creamer Media
Chris Griffith

Women still find it hard to climb corporate ladder

By: Ilan Solomons Diamond company De Beers is still struggling to ensure equal opportunities for women in its business. This is according to diamond company De Beers sightholder sales South Africa senior VP Nompumelelo Zikalala and De Beers organisational effectiveness lead Varsha Morar, who were speaking at... 

Women still find it hard to climb corporate ladder
NOMPUMELELO ZIKALALA The perception that women who reach senior leadership positions in the mining industry did so by “offering sexual favours” to male executives remains widespread

Motsepe spells out difficulty of retaining mandatory BEE ownership in perpetuity 

By: Martin Creamer The difficulty companies have in preventing their mandatory black economic empowerment (BEE) ownership arrangements from unravelling when BEE shareholders sell out is highlighted by top South African business leader Patrice Motsepe’s personal experience of BEE undoing within his diversified... 

Motsepe spells out difficulty of retaining mandatory BEE ownership in perpetuity
Photo by Duane Daws
Patrice Motsepe

Motsepe calls on South Africans to come together to boost economy 

By: Martin Creamer Top South African business leader Patrice Motsepe on Friday made an impassioned plea to all South Africans, irrespective of political affiliation, to close ranks and focus on building an economy that is sufficiently strong to benefit the country’s entire population. Speaking at the presentation... 

Motsepe calls on South Africans to come together to boost economy
Photo by Duane Daws
ARM chairperson Patrice Motsepe

Latest power tariff rise to nullify benefit of 2015 cost-cutting – Amplats

By: Martin Creamer The latest 9% electricity tariff increase allowed to State power utility Eskom was set to nullify the benefit of the cost-cutting programme that Anglo American Platinum (Amplats) undertook last year, Amplats CEO Chris Griffith said on Wednesday. Speaking to Creamer Media’s Mining Weekly Online... 

Latest power tariff rise to nullify benefit of 2015 cost-cutting – Amplats
Photo by Creamer Media
Chris Griffith

Sasol outlines dual Southern Africa, North America growth plans

By: Martin Creamer Despite the lower-for-much-longer oil price outlook, integrated chemicals and energy company Sasol is remaining focused on executing growth projects in Southern Africa and North America as part of a dual regional strategy. In presenting 63%-lower earnings attributable to shareholders in the six... 

Sasol outlines dual Southern Africa, North America growth plans
Photo by Duane Daws
David Constable

Resilient Sasol weathering storm

By: Martin Creamer Worsening market volatility and uncertainty have prompted Sasol to raise its cash conservation target to an even higher outside range of R75-billion from a previous R50-billion. The intensified response plan in response to the low oil price ensured balance sheet and earnings resilience at an oil... 

Resilient Sasol weathering storm
Photo by Duane Daws
Sasol CFO Bongani Nqwababa

Coal coming off the bottom – Exxaro

By: Martin Creamer There are indications that the coal market, which suffered heavily depressed prices last year, is beginning to come off the bottom. “I think we’re through the trough,” Exxaro FD Wim De Klerk said of the demand for export thermal coal in particular. (Also watch attached Creamer Media video). 

Coal coming off the bottom – Exxaro
Photo by Duane Daws
Dr Nombasa Tsengwa

Eqstra H1 profit falls on exit of noncore operations

By: Natasha Odendaal JSE-listed Eqstra’s profits plunged into the red during the first half of the 2016 financial year, as an exit plan and overall progress made on the company’s 2020 strategy – and resultant impairments on discontinued operations – weighed on the interim financial results. The integrated leasing and... 

Eqstra H1 profit falls on exit of noncore operations
Photo by Duane Daws
Eqstra CEO Jannie Serfontein

RBPlat posts FY loss, delays projects

By: Megan van Wyngaardt Owing to depressed market conditions with metal prices “tanking at an alarming pace”, compounded by ongoing work stoppages owing to five fatalities, platinum miner Royal Bafokeng Platinum (RBPlat) has posted dismal results, with a headline loss a share of 83c for the 2015 financial year, compared... 

RBPlat posts FY loss, delays projects
Photo by Duane Daws
RBPlat CEO Steve Phiri

Sibanye Gold preparing to spend upped R3.9bn capex

By: Martin Creamer Precious metals mining company Sibanye Gold is forecasting a capital expenditure of R3.9-billion this year, an increase of more than R400-million on 2015. Sibanye CEO Neal Froneman told the BMO mining conference on Monday that the company was engaging in capital investment that was extending the... 

Sibanye Gold preparing to spend upped R3.9bn capex
Photo by Creamer Media
Neal Froneman at presentation of results

Northam Platinum advancing growth projects to meet projected 2020 undersupply

By: Martin Creamer Platinum mining company Northam Platinum on Friday elaborated on its growth projects that are timed to counter a lack of replacement investment over the past decade across the primary production industry, which is expected to lead to under supply. Northam Platinum CEO Paul Dunne told mining... 

Northam Platinum advancing growth projects to meet projected 2020 undersupply

Record rand gold price prompts Sibanye to call employees, unions back to the table

By: Martin Creamer In an unprecedented move, the record rand price of gold has prompted gold mining company Sibanye Gold to exercise its bona fides by calling on its employees, unions and associations to return to the table, not to reopen wage negotiations, but to enter into a dialogue on an innovative social and... 

Record rand gold price prompts Sibanye to call employees, unions back to the table
Photo by Duane Daws
Neal Froneman

AngloGold international mines slashing costs, upping margins

By: Martin Creamer The international operations of AngloGold Ashanti have virtually halved their all-in sustaining costs (AISC) in three years. The Johannesburg- and New York-listed gold mining company’s international mines in eight countries began in the fourth quarter of 2012 with an AISC of $1 542/oz and ended... 

AngloGold international mines slashing costs, upping margins
Photo by Creamer Media
Ron Largent

AngloGold’s South African mines still laggards

By: Martin Creamer The South African operations of AngloGold Ashanti, which improved only slightly in three months to December 31, remain ‘outlier’ laggards. Of AngloGold’s 19 mines in nine countries, the South African operations have been the slowest in showing cost improvement. 

AngloGold’s South African mines still laggards
Photo by Duane Daws
Srinivasan Venkatakrishnan (Venkat)

AngloGold new tech continuing to show ‘pleasing' progress

By: Martin Creamer The innovative technology project being undertaken by gold-mining company AngloGold Ashanti is continuing to show "pleasing"progress with the successful deployment of the company's latest generation reef-boring machine at the company’s TauTona lower carbon leader shaft pillar. Speaking at... 

AngloGold new tech continuing to show ‘pleasing' progress

AngloGold working with Ghana police to stop illegal miner expansion

By: Martin Creamer Gold mining company AngloGold Ashanti is working with police to prevent the expansion of illegal mining beyond the northern extremity of its lease tenement at the Obuasi gold mine in Ghana. AngloGold executive VP Graham Ehm said at the company’s presentation of yearly and quarterly results in... 

AngloGold working with Ghana police to stop illegal miner expansion
Photo by Creamer Media
Graham Ehm

New mining method nudging South Deep towards breakeven – Gold Fields

By: Martin Creamer Gold mining company Gold Fields increased production in the three months to December 31, when it generated $47-million of cash flow. It pulled down costs to $942/oz, recorded normalised earnings of $15-million, stuck to its dividend commitment, reduced net debt by $47-million and is striving to... 

New mining method nudging South Deep towards breakeven – Gold Fields
Photo by Duane Daws
Nick Holland

DRDGold posts higher H1 profit, output

By: Ilan Solomons Despite incurring a 15% increase in total cash operating costs for the six months ended December 31, surface gold miner DRDGold achieved a 1% increase in operating profit to R165.9-million, compared with the R164.1-million recorded for the six months to December 2014. Speaking at a presentation... 

DRDGold posts higher H1 profit, output
Photo by Duane Daws
DRDGold CEO Niël Pretorius

Zero external funding a possibility for new $2.6bn Harmony mine

By: Martin Creamer Gold mining company Harmony said on Monday that its current expectation was that it would not require any external funding to build the Golpu copper/gold mine with its 50% joint venture partner Newcrest and buy-in from the government of Papua New Guinea (PNG). The JSE-listed company estimated the... 

Zero external funding a possibility for new $2.6bn Harmony mine
Photo by Duane Daws
Johannes van Heerden

AMSA’s R1.5bn competition settlement part of bigger image makeover to win steel protection 

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) has made a R1.5-billion proposal to the Competition Commission to settle all outstanding matters against the company – if approved, it would be the largest competition-related fine ever paid by a single South African entity. Departing CEO Paul... 

AMSA’s R1.5bn competition settlement part of bigger image makeover to win steel protection
Photo by Duane Daws
Paul O’Flaherty

Kumba FY earnings down on lower iron-ore price

By: Anine Kilian JSE-listed Kumba Iron Ore’s headline earnings a share fell 66% year-on-year to R11.80 for the year ended December 31, compared with R34.30 a year earlier. The 42% drop in the average iron-ore price to $56/t contributed to the lower earnings. Basic earnings a share were R1.46 owing to a... 

Kumba FY earnings down on lower iron-ore price
Photo by Duane Daws
Kumba CEO Norman Mbazima

Harmony back in black, eyes Golpu advancement

By: Natasha Odendaal Shares in dual-listed Harmony Gold surged some 15% on the Johannesburg bourse on Thursday after the gold mining group turned the corner in the second quarter of the current financial year, posting positive earnings after a prolonged period in the red. Harmony achieved headline earnings of... 

Harmony back in black, eyes Golpu advancement
Photo by Duane Daws
Harmony CEO Peter Steenkamp

Power generation still driving uranium demand, but environmental, health concerns persist

By: Ilan Solomons The future of the uranium mining industry will be largely dependent on the price of the commodity and the profitability of uranium mines, while demand for uranium in nuclear power stations and potentially for nuclear weapons remains the main driver for the commodity. This is according to North... 

Power generation still driving uranium demand, but environmental, health concerns persist

AMCU claims substandard safety equipment, procedures led to fatalities at Implats

By: Ilan Solomons The Association of Mineworkers and Construction Union (AMCU) has decried the loss of life at platinum miner Impala Platinum’s (Implats’) Rustenburg mine, in the North West, in December and January. Union president Joseph Mathunjwa told journalists on Wednesday that the fatal incidents at 14 Shaft... 

AMCU claims substandard safety equipment, procedures led to fatalities at Implats
Photo by Duane Daws
Joseph Mathunjwa

Environmental tax could make appearance in budget speech

By: Megan van Wyngaardt Finance Minister Pravin Gordhan is likely to raise the issue of imposing an environmental tax on the mining sector in his 2016/17 budget speech on February 24, predicts Deloitte business tax director Alex Gwala. The introduction of these taxes was mentioned in last year’s budget speech, though... 

Environmental tax could make appearance in budget speech
Deloitte business tax director Alex Gwala

Credit facility to boost exporters in progressing mining projects

By: Mia Breytenbach In addition to facilitating export trade and enabling exporters to access mining project opportunities across Africa, the Export Credit Insurance Corporation of South Africa (ECIC) will this year focus on increasing awareness of its latest offering – a multicurrency guarantee facility to assist... 

Credit facility to boost  exporters in progressing mining projects

Nontraditional funding sought for Liberia iron-ore development

By: Martin Creamer Non-traditional sources of funding are being sought for the development of the best of the four major iron-ore assets that Cavalla Resources has acquired in Liberia from BHP Billiton. Cavalla COO Fidel Jonah said on Monday that the company anticipated that the iron-ore pricing environment would... 

Nontraditional funding sought for Liberia iron-ore development
Photo by Duane Daws
Fidel Jonah

Crisis excellent opportunity to rescue mining – Motlanthe

By: Martin Creamer The current crisis in South Africa’s mining industry should be grasped as an excellent opportunity to introduce material change through an effective joint organising body that gets things done within specified timelines. “We’re in a rut and need to pull ourselves out of it together,” says former... 

Crisis excellent opportunity to rescue mining – Motlanthe
Photo by Duane Daws
Kgalema Motlanthe interviewed by Mining Weekly Online.

Mining helping to show how rich and poor South Africans can work arm-in-arm as volunteers 

By: Martin Creamer Every year, 700 000 to 800 000 young South Africans leave school with extremely limited prospects of obtaining employment, adding to the statistic of three to four million people younger than 25 who are already unemployed. One of the country’s most pressing challenges is finding ways of preparing... 

Mining helping to show how rich and poor South Africans can work arm-in-arm as volunteers
Photo by Darlene Creamer
Rick Menell (left) and Murphy Morobe

Early 2016 ‘recap or idle’ decision on Ghana mine – Gold Fields

By: Martin Creamer The outcome of an independent study into Gold Fields’ Damang gold mine in Ghana will determine whether mine’s central pit is recapitalised, possibly at a level of $100-million, or its inherent value preserved until gold prices recover. “We should be in a position to announce a decision early next... 

Early 2016 ‘recap or idle’ decision on Ghana mine – Gold Fields
The Damang gold mine in Ghana
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