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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

South African stainless sector expected to track sideways in 2016

By: Terence Creamer South Africa’s stainless steel consumption, which has recovered from the slump experienced during the 2009 recession, is expected to track sideways in 2016. Apparent consumption in 2015 rose 1.9% year-on-year to 190 000 t, which is below the post-crisis peak of nearly 210 000 t, but still... 

South African stainless sector expected to track sideways in 2016
Photo by Duane Daws
Sassda executive director John Tarboton

Tharisa records maiden FY profit, targets further cost efficiencies 

By: Ilan Solomons JSE-listed integrated resource group Tharisa on Wednesday reported its first full-year profit of $6-million for the financial year to September 30. This compared with a loss of $54.9-million in the prior financial year.   Group revenue increased by 2.5% year-on-year to $246.8-million in the year... 

Tharisa records maiden FY profit, targets further cost efficiencies
Tharisa CEO Phoevos Pouroulis

Water: Decide now on Lesotho 2, acid mine drainage projects – Prof 

By: Martin Creamer The Cabinet Ministers responsible for approving the second phase of the Lesotho Highlands Water Scheme should be asked to explain why this important project is being delayed – and should also be pressed to take decisions on acid mine drainage (AMD) projects as new sources of short-term water. In... 

Water: Decide now on Lesotho 2, acid mine drainage projects – Prof
Photo by Duane Daws
Mike Muller

How mining can innovate and boost cash at same time

By: Martin Creamer French software company Dassault Systèmes Geovia is offering South Africa’s struggling mining industry the opportunity to innovate and accelerate its cash flow at the same time. The company outlined its mix of innovation and cash-boosting potential at a presentation attended by Creamer Media’s... 

How mining can innovate and boost cash at same time
Photo by Duane Daws
David Osborn during video interview

Continued investment and partnerships pivotal under current market downturn

By: Zandile Mavuso In the current economic downturn, JSE-listed Omnia Group’s mining explosives division BME believes that partnership and continuing to improve productivity through product innovation is key to survival. 

Continued investment and partnerships pivotal  under current market downturn

Machel urges civil society organisations to play more active role in natural resources sector

By: Ilan Solomons Civil society organisations (CSOs) must advocate for balanced ownership of natural resources, as these resources belong to the people of Africa, stated Graça Machel Trust founder Graça Machel. Machel spoke as part of a panel at the African Natural Resources Center of the African Development... 

Machel urges civil society organisations to play more active role in natural resources sector
TAKING ISSUE Moyo Nkosana, Graça Machel, Sheila Khama and Osten Chulu

Gold Fields to build 3D model of huge South Deep mine

By: Martin Creamer A three-dimensional (3D) visualisation model of the large South Deep gold mine is poised to be the high point of a series of modernisation steps taken by the Gold Fields operation, which last week helped the share price of the Johannesburg- and New York-listed gold mining company to take its... 

Gold Fields to build 3D model of huge South Deep mine
South Deep gold mine

Eskom plans ten-year tariff submission while pushing ahead with two claw-back bids 

By: Terence Creamer State-owned electricity producer Eskom plans to make an early fourth multiyear price determination (MYPD4) application to the National Energy Regulator of South Africa (Nersa) and also extend the tariff horizon in the submission to ten years, CFO Anoj Singh said on Tuesday. The current MYPD3... 

Eskom plans ten-year tariff submission while pushing ahead with two claw-back bids
Photo by Duane Daws
Eskom CFO Anoj Singh

'Mine to plan’ sparked soaring quarter – Gold Fields

By: Martin Creamer South Deep gold mine’s 42% production increase, which last week helped spark Gold Fields’ 29% share price increase, was the result of the company getting better at its “plan the mine, mine the plan” approach – and in particular the execution of long-hole stoping. The Johannesburg- and New... 

'Mine to plan’ sparked soaring quarter – Gold Fields
Photo by Duane Daws
Nick Holland

Banks offer up R12bn in Transnet deal as parastatal eyes R500bn spend over coming decade 

By: Natalie Greve Boosting the coffers earmarked for its ambitious locomotive fleet acquisition programme, State-owned logistics group Transnet has announced the successful conclusion of a R12-billion club loan with five of the country’s major financial institutions, ratifying what the parastatal described as... 

Banks offer up R12bn in Transnet deal as parastatal eyes R500bn spend over coming decade

Fed hike could knock gold price down to $1 000/oz – Gold Fields 

By: Martin Creamer A raising of US interest rates in December could knock gold back to a level of $1 000/oz, Gold Fields CEO Nick Holland said on Thursday, when the company saw its share price soar 29% to R39.98 a share, the most in a single day since September 1999. This followed the company's South Deep mine... 

Fed hike could knock gold price down to $1 000/oz – Gold Fields
Photo by Duane Daws
Nick Holland (right) and Paul Schmidt

Weak demand not only cause of fall-off in load-shedding, Eskom insists 

By: Terence Creamer South Africa’s State-owned electricity utility Eskom insisted on Monday that the performance of its generation fleet was on an improving “trend”, rebuffing arguments that its newfound ability to avoid load-shedding was primarily the result of sharply lower demand from industry. Speaking at a... 

Weak demand not only cause of fall-off in load-shedding, Eskom insists
Photo by Duane Daws
Eskom CEO Brian Molefe

Let’s rebuild mining together – Menell 

By: Martin Creamer South Africa has done just about everything possible to make running mining businesses very difficult, despite having wonderful mineral resources and many major capitalised mining enterprises. The country is suffering from 20 years of wrongfully assuming that mining has bottomless pockets to pay... 

Let’s rebuild mining together – Menell
Photo by Duane Daws
Rick Menell

Locally developed rail transport system to be deployed in 2016, in line for major award

By: Ilan Solomons The Futran rail transport system of local transportation technology company Milotek, an Imperial Group company, could be in commercial use on a mine in Southern Africa by January 2016. Milotek CEO Andries Louw says that over the past two years, the system has developed from concept and design to... 

Locally developed rail transport system to be deployed in 2016,  in line for major award
AERIAL EXCELLENCE The Futran system is being trialled at Milotek’s 1 km test track in Brits, in the North West

AngloGold increasingly ‘upbeat’ on new improving mining technology

By: Martin Creamer The new South African mining technology that AngloGold Ashanti is developing in its Tau Tona gold mine, is expected to produce 13 000 oz of gold this year compared with 3 000 oz last year. “That’s the uptick we’re seeing in technology,” AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat)... 

AngloGold increasingly ‘upbeat’ on new improving mining technology
Photo by Duane Daws
Srinivasan Venkatakrishnan (Venkat)

AMSA adds R4.5bn rights issue to survival plan, as it warns of earnings ‘bloodbath’

By: Terence Creamer JSE-listed steel producer ArcelorMittal South Africa (AMSA) announced a whopping R4.5-billion rights issue on Friday as part of a multipronged survival package, which hinges materially on greater protection for the embattled domestic steel industry. The offer will be fully underwritten by the... 

AMSA adds R4.5bn rights issue to survival plan, as it warns of earnings ‘bloodbath’
Photo by Duane Daws
AMSA CEO Paul O’Flaherty

Working closely with customers helps Aveng Mining retain existing work in tough environment

By: Zandile Mavuso The continued downturn in commodity prices has affected mining operations globally; however, multidisciplinary construction and engineering group Aveng’s mining division has deployed responsive strategies that will sustain its operations during these trying times. 

Working closely with customers helps Aveng Mining retain existing work in tough environment

Tax commission head urges govt to hold back on carbon tax 

By: Terence Creamer Judge Dennis Davis, who is leading South Africa’s Davis Tax Commission (DTC), has urged government not to introduce the carbon tax in the current “fragile” economic environment. The National Treasury released the Draft Carbon Tax Bill for public comment on November 2, outlining an initial... 

Tax commission head urges govt to hold back on carbon tax

Transnet says some capex to be deferred, but insists R380bn plan remains intact

By: Terence Creamer State-owned freight logistics group Transnet insisted on Thursday that its R340-billion to R380-billion Market Demand Strategy (MDS) remained intact, but confirmed that some components of the investment plan could be deferred in light of the weaker commodity outlook and South Africa’s lower... 

Transnet says some capex to be deferred, but insists R380bn plan remains intact
Photo by Duane Daws
Transnet acting CEO Siyabonga Gama

Davis tax proposals sound death knell for new mine development 

By: Martin Creamer The recommendations of the Davis Committee on Tax bring the prospect of new mining development to a screeching halt and sound the death knell for new gold mining development in particular, commentators warn. The South African mining industry has until October 31 to comment on the first round of... 

Davis tax proposals sound death knell for new mine development
Photo by Duane Daws
Bruce Williamson

Consider cross-border diamond beneficiation links – De Beers

By: Martin Creamer South Africa should not forego the collaborative diamond beneficiation opportunities that lie within the Southern African Development Community (SADC) region but rather consider how it might be able to leverage off cross-border diamond beneficiation partnerships. This is because the diamond... 

Consider cross-border diamond beneficiation links – De Beers
Photo by Creamer Media
Barend Petersen

Work together or perish together, Diamond Indaba hears  

By: Martin Creamer The South African diamond beneficiation industry was confronted with the choice of either working together in a government, labour and business partnership or perishing together as failures, the country’s first Diamond Indaba heard here on Tuesday. Attended by the who’s who of local diamond... 

Work together or perish together, Diamond Indaba hears
Photo by Creamer Media
Dolly Mokgatle

Shareholders get 3% of mining cake, employees 45% – PwC 

By: Martin Creamer Of the value created by 35 Johannesburg Stock Exchange-listed mining companies, a low 3% went to shareholders and a high 45% to employees, an analysis of the 12 months to June 2015 shows. Net profit fell 75% to a mere R2-billion even though impairment provisions were 26% lower. 

Shareholders get 3% of mining cake, employees 45% – PwC
Photo by Creamer Media
Andries Rossouw

AMCU will approach ConCourt if current bid for right to strike at mines where it has a majority fails 

By: Ilan Solomons The Association of Mineworkers and Construction Union (AMCU) is currently awaiting the Labour Appeal Court judgment on representativeness and the extension of collective bargaining agreements to minority unions by an employers’ association. During 2013 wage negotiations AMCU sought clarity from... 

AMCU will approach ConCourt if current bid for right to strike at mines where it has a majority fails
JOSEPH MATHUNJWA AMCU continues to demand a R12 500 basic wage for all mineworkers

Questions raised about govt’s approach to acid mine drainage

By: Ilan Solomons The Department of Water and Sanitation’s (DWS’s) existing treatment programme involving pumping acid mine drainage (AMD) out of the Witwatersrand basin and then partially treating the water by neutralising it will not assist in alleviating the challenge in the long term, states nonprofit company... 

Questions raised about govt’s approach to acid mine drainage

South African mining’s delicate make-or-break phase outlined

By: Martin Creamer The South African mining industry’s delicate make-or-break phase has been outlined by some of the sector’s leading lights who make it clear that only give-and-gain will prevent it from losing colossal value. What will break it, they make clear, is failure to achieve a win-win, despite the... 

South African mining’s delicate make-or-break phase outlined
Photo by Duane Daws
Cheryl Carolus

Investors slam skewed incentivisation of mining top brass 

By: Martin Creamer Mining company executives have made a ton of money, fund managers have done fine and investment bankers have made a killing but the only people who have not made money are the shareholders – and the reason is the skewed way in which mining top brass are incentivised. That message came over loudly... 

Investors slam skewed incentivisation of mining top brass
Photo by Creamer Media
Investor panel at Joburg Indaba

Company launches ERP system for explorers

By: Bruce Montiea Business improvement and technology company Barnstone will, at the end of this month, release its Barnstone Exploration Solution enterprise resource planning (ERP) system aimed at enabling exploration companies to run their operations effectively and efficiently, exploration and mining... 

Company launches ERP system for explorers
Photo by Bloomberg
RECOGNISED EFFICIENCY The Barnstone Exploration Solution is a full-blown SAP system for junior and midtier exploration companies
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