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Implats shares fall on R4bn equity raising plans

By: Martin Creamer     Updated 7 hours ago The share price of mining company Impala Platinum (Implats) first fell heavily and then recovered considerably after the company announced plans to raise R4-billion equity capital in an accelerated bookbuild. Reporting 58% lower earnings a share to 36c in the 12 months to June 30, in spite of key... 

Implats shares fall on R4bn equity raising plans
Photo by Duane Daws
Terence Goodlace

Cash-flush DRDGold mulling share buy-back

By: Martin Creamer Surface gold mining company DRDGold, which has R324-million cash on hand after paying a five-times-higher dividend, is considering a buy back of shares in support of its long-term shareholders. DRDGold CEO Niël Pretorius, who has led a technical and financial turnaround of the gold-from-dumps... 

Cash-flush DRDGold mulling share buy-back
Photo by Duane Daws
Niël Pretorius and Martin Creamer

Gas represents a R250bn opportunity for South Africa – McKinsey 

By: Terence Creamer Global management consultancy McKinsey & Company argues that South Africa should urgently pursue a ‘big gas’ energy option to bridge an electricity supply gap of between 6 GW and 10 GW that could arise by 2025 as older coal-fired power stations are decommissioned. The recommendation is contained... 

Gas represents a R250bn opportunity for South Africa – McKinsey
Photo by Duane Daws
McKinsey & Company principal Christine Wu

Cause of global warming remains unknown – energy professor 

By: Martin Creamer The cause of global warming remains unknown and the information being used to determine its effects is too recent to form a good basis for conclusions. Outlining this at an event organised by the Fossil Fuel Foundation, Cape Peninsular University of Technology energy professor Philip Lloyd said... 

Cause of global warming remains unknown – energy professor

New plasma pipe-cutting machine enters production

By: Bruce Montiea Specialist chromium carbide (CrC) long-life liners and components manufacturer Rio-Carb in June started producing pipes for the diamond mining industry using its new plasma pipe-cutting machine at its factory in Alberton, Ekurhuleni. Rio-Carb director Martin Maine tells Mining Weekly that the... 

New plasma pipe-cutting machine enters production
Rio-Carb director Martin Maine

Exxaro sets sights on coal to revive earnings

By: Natasha Odendaal Diversified miner Exxaro is placing its bets on coal as the South African mining industry battles the “stormy waters” that have “pushed it into trouble”. Outgoing CEO Sipho Nkosi on Thursday said that amid challenging market conditions, declining commodity prices and extensive financial strain... 

Exxaro sets sights on coal to revive earnings
Photo by Duane Daws
Exxaro outgoing CEO Sipho Nkosi

AngloGold harvesting short-life mines

By: Martin Creamer AngloGold Ashanti is harvesting short-life gold mines for cash and will do so with more mines if the gold price falls below $1 000/oz, CEO Srinivasan (Venkat) Venkatakrishnan said on Monday. “As an industry, we’re going through pretty rough times but the rougher it gets, the more our... 

AngloGold harvesting short-life mines
Photo by Duane Daws
Srinivasan (Venkat) Venkatakrishnan (right) and Martin Creamer

Legislative changes to be supportive of offshore oil, gas drilling – Zuma

By: Terence Creamer President Jacob Zuma says the finalisation of the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill, which is currently in the Parliamentary process, will assist the country to accelerate offshore oil and gas exploration. Delivering an update in Pretoria on government’s... 

Legislative changes to be supportive of offshore oil, gas drilling – Zuma

Mining Phakisa can help unlock mining, exploration investment – Chamber

By: Terence Creamer The Chamber of Mines (CoM) has expressed optimism that the upcoming Mining Phakisa Laboratory, scheduled for October, will enable South African mining stakeholders to begin tackling prevailing impediments to mining and exploration investment and address issues undermining the competitiveness of... 

Mining Phakisa can help unlock mining, exploration investment – Chamber
Photo by Duane Daws
President Jacob Zuma

Eskom unveils new coal-sourcing strategy as it pursues R2bn Optimum claim 

By: Terence Creamer State-owned electricity utility Eskom has confirmed an overhaul to its coal-sourcing model, which could result in it withdrawing from its historical cost-plus arrangements with “tied collieries” in favour of arms-length commercial contracts with coal suppliers. The change in strategy came amid a... 

Eskom unveils new coal-sourcing strategy as it pursues R2bn Optimum claim
Photo by Duane Daws
Acting Eskom CEO Brian Molefe

Zest WEG still acquisitive after adding scale and scope to transformer offering 

By: Terence Creamer South African electrical equipment supplier and manufacturer Zest WEG remains on the prowl for “synergistic” acquisitions, having recently completed a transaction to buy TSS Transformers – a deal that materially increases its local manufacturing capabilities and heralds its entry into the... 

Zest WEG still acquisitive after adding scale and scope to transformer offering
Photo by Duane Daws
Zest WEG CEO Louis Meiring

Roytec clinches Zim contract, now boasts R100m order book

By: Ilan Solomons Filtration and separation solutions provider Roytec completed testing and adapting a filter press system for mining company Bindura Nickel Corporation’s Trojan nickel mine, in Zimbabwe, last month. Roytec marketing and business development director Peter Sampson tells Mining Weekly that the... 

Roytec clinches Zim contract,  now boasts R100m order book
Photo by Duane Daws
FILTER PRESS SYSTEM The filter press will be used to dry nickel concentrates at the Trojan nickel mine’s processing plant in Zimbabwe

R50m mine design centre opens 

By: Martin Creamer The University of Pretoria’s new virtual and augmented reality mine design centre, which is set to revolutionise both surface and underground mine design, was officially opened on Tuesday evening. A total of R50-million has been invested in the centre, which has come out of a highly successful... 

R50m mine design centre opens
Inside the new mine design centre

‘Depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion

By: Natalie Greve Royal Bafokeng Platinum (RBPlat) plans to scale back on construction at its Styldrift 1 expansion project, telling investors on Tuesday that a sustained depression in the platinum group metals (PGMs) market – which is expected to continue over the medium term – was behind the imperative to reduce... 

‘Depressed’ PGM market cycle stalls RBPlat’s Styldrift expansion
Photo by Duane Daws
RBPlat CEO Steve Phiri

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) signalled on Friday that it was aiming to reopen historically fraught iron-ore pricing negotiations with Kumba Iron Ore, with CEO Paul O’Flaherty describing the current cost-plus arrangement as unsustainable in light of dramatic declines in... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba
Photo by Duane Daws
ArcelorMittal South Africa CEO Paul O’Flaherty

First production at Brakfontein colliery extension slated for September

By: Ilan Solomons Junior coal mining company Tegeta Resources and Exploration is on schedule to start operations at its Brakfontein colliery extension project in September and begin supplying coal to State-owned power utility Eskom from the new site by October 1 this year, Tegeta special adviser Jacques Roux tells... 

First production at Brakfontein colliery  extension slated for September
Photo by Duane Daws
NEW CRUSHING AND SCREENING PLANT Brakfontein colliery commissioned a new R10-million crushing and screening plant this month, which has the capacity to produce 500 t of material an hour

Platinum projects well under way

By: Kimberley Smuts Platinum group metals (PGMs) producer Sylvania Platinum’s project portfolio includes four hotspots on the northern limb of the Bushveld Igneous Complex that have been identified as prospective platinum, palladium and gold targets (PGM 3E), together with copper (Cu) and nickel (Ni) deposits. Each... 

Platinum projects  well under way
PGM FLOTATION PLANT Sylvania Platinum owns the Sylvania Dump Operations that currently include seven fully operational chrome tailings processing complexes

South Africa’s new JSE-backed oil, gas code globally aligned

By: Martin Creamer The recently published South African Code for the Reporting of Oil and Gas (Samog) is fully aligned to the oil and gas reporting standards used globally. South African Oil and Gas Committee chairperson Andy Clay and Johannesburg Stock Exchange (JSE) GM corporate finance Annalie de Bruyn, who... 

South Africa’s new JSE-backed oil, gas code globally aligned
Photo by Creamer Media
Andy Clay, Annalie de Bruyn and Martin Creamer

Low iron-ore price killing jobs at Kumba

By: Martin Creamer South African iron-ore major Kumba Iron Ore has taken the knife to 1 772 jobs as low iron-ore prices cut a swathe through the industry. Out of a previous complement of 572, only 221 permanent and fixed-term employees remained at head office, with the 351 head office jobs cut by the Anglo American... 

Low iron-ore price killing jobs at Kumba
Photo by Duane Daws
Norman Mbazima

Ode to the Miner

By: Creamer Media Reporter Ode to the Miner, by Sas Kloppers, is about mining in South Africa and is inspired by the sculptures of miners by Tienie Pritchard. Mining in South Africa was an important determinate of South Africa's political, economic and cultural history. The publication is unique in many respects; not only... 

Ode to the Miner
Photo by Matthew De Bie
Artist Sas Kloppers with Mining Weekly's Leandi Kolver

Transnet says take-or-pay contracts offer volume ‘cover’ in weak commodity climate

By: Terence Creamer State-owned freight logistics group Transnet is budgeting for continued growth in coal and iron-ore export volumes in 2015/16, despite weak commodity market conditions. The group railed 76.3-million tons of export coal last year, a material 12% increase on the 68.2-million tons achieved in... 

Transnet says take-or-pay contracts offer volume ‘cover’ in weak commodity climate
Photo by Duane Daws
Acting Transnet CEO Siyabonga Gama

Inland terminal rapid rail master plans urged for new coal basins

By: Martin Creamer A new logistical concept involving the overland conveying of coal to inland terminals for processing prior to rapid railing to ocean terminals is being proposed for new coal basins, to boost efficiencies, cut costs, ensure economically feasible junior-miner participation and bring bulk-commodity... 

Inland terminal rapid rail master plans urged for new coal basins
Photo by Daune Daws
Lyonell Fliss

Govt, private sector working constructively to tackle acid mine drainage in Wits basin 

By: Ilan Solomons Although acid mine drainage (AMD) in the Witwatersrand basin is the result of a legacy of environmental mismanagement of water resources by mines and lax enforcement of regulations by government, these role-players are working to constructively address this problem, says Department of Water and... 

Govt, private sector working constructively to tackle acid mine drainage in Wits basin

Rejected mine water plan deprived 7 000 of jobs – Robinson 

By: Martin Creamer The rejection of a still-workable mine water and slimes dam plan at the stricken Grootvlei gold mine on Gauteng’s East Rand deprived 7 000 squatter camp dwellers of employment and set the mine on its downward trajectory, which has arguably ended up as the harshest aspect of the Aurora liquidation... 

Rejected mine water plan deprived 7 000 of jobs – Robinson
Photo by Daune Daws
Dr RE (Robbie) Robinson (right) and Martin Creamer

Mine mechanisation linked to local equipment retains jobs – Jourdan 

By: Martin Creamer Resource development strategist Dr Paul Jourdan this week called for the local manufacture of mechanised mining equipment to neutralise job losses during the switch to machines. The former Mintek president says that even though mechanisation “massively” increases the quality of work in mines and... 

Mine mechanisation linked to local equipment retains jobs – Jourdan
Photo by Creamer Media
Paul Jourdan

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

Nersa says door still open to Eskom after rejecting further 2015 tariff hike

By: Terence Creamer The National Energy Regulator of South Africa (Nersa) on Monday rejected Eskom’s application for a further 2015/16 tariff hike in addition the 12.69% already granted for the year. Nersa chairperson Jacob Modise announced that, owing to a number of deficiencies in the application, the regulator... 

Nersa says door still open to Eskom after rejecting further 2015 tariff hike
Photo by Duane Daws
Nersa panel member Thembani Bukula and chairperson Jacob Modise

Coal price slide hitting miners, rail group

By: Ilan Solomons The sharp decline in coal prices since 2011 has resulted in several mines becoming only marginally profitable, says State-owned logistics company Transnet group commercial GM Divyesh Kalan. The price of thermal coal was about R140/t in January 2011, compared with $62/t by the end of January this... 

Coal price slide hitting miners, rail group
COAL RAILWAY SYSTEM Export coal performance has shown an upwards trend, with rail export volumes of coal increasing from 62.6-million tons in the 2010/11 financial year to 76-million tons in the 2014/15 financial year

Glencore builds R75m school in Mpumalanga

By: Zandile Mavuso As part of its social and labour commitment to the Department of Mineral Resources, mining and marketing giant Glencore launched the Makause Combined School in Phola, near its coal operations in Mpumalanga, earlier this month. 

Glencore builds R75m school in Mpumalanga

Locally developed materials handling system ‘takes to the skies’

By: Ilan Solomons Local transportation technology company Milotek’s Futran system is “truly revolutionary”, as it provides a new method of transporting commodities and potentially also people, claims Milotek CEO Andries Louw. Louw was speaking at black-owned training and conferencing company Intelligence Transfer... 

Locally developed materials handling system ‘takes to the skies’
FUTRAN SYSTEM TRACK Futran is a locally developed and manufactured rail transport bogie that has been mounted on an elevated rail transportation track system

Project work worth $200bn to be available in Moz coal sector in next 20 years

By: Ilan Solomons Engineering design and project management consultancy company RSV ENCO Consulting strategic development executive Rowan Karstel says significant opportunities exist for companies to profit from Mozambique’s resource sector. “The province of Tete alone has inferred total coal reserves of about... 

Project work worth $200bn to be available in Moz coal sector in next 20 years
ROWAN KARSTEL One of the biggest challenges facing mining companies in Mozambique is ensuring that effective logistics programmes are put in place

Wescoal commits to black holding company control to qualify for Eskom business

By: Martin Creamer Coal mining and trading company Wescoal, which suffered lower profitability in the three months to March 31 on the drying up of long-term Eskom contracts, has committed to being more than 50% owned by black shareholders before December 2016 to qualify for long-term coal business from the State... 

Wescoal commits to black holding company control to qualify for Eskom business
Photo by Duane Daws
Waheed Sulaiman (left) and Martin Creamer

‘Homeless’ S African CEOs raise R25m on icy streets of Joburg 

By: Natalie Greve Over 250 CEOs from South Africa’s largest corporates traded in boardroom suits for cardboard boxes on Thursday evening, spending 12 hours on the streets of Johannesburg as part of an initiative to raise some R25-million for charity Girls and Boys Town and bring awareness to the plight of the... 

‘Homeless’ S African CEOs raise R25m on icy streets of Joburg

Molefe unveils new Eskom maintenance-sans-load-shedding operational strategy 

By: Terence Creamer State-owned electricity utility Eskom outlined a new operating philosophy on Wednesday with acting CEO Brian Molefe indicating that the strategy was based on finding the theoretical “sweet spot” that would enable it to conduct much-needed maintenance with “no, or minimal load-shedding”. Speaking... 

Molefe unveils new Eskom maintenance-sans-load-shedding operational strategy
Eskom acting CEO Brian Molefe

Glencore sees slight coal undersupply

By: Martin Creamer Mining and marketing giant Glencore sees a slight undersupply of coal on the horizon. Speaking on video to Creamer Media’s senior staff writer Zandile Mavuso at Glencore’s donation of a new R75-million state-of-the-art school to South Africa’s Department of Basic Education, Glencore CEO Ivan... 

Glencore sees slight coal undersupply
Photo by Daune Daws
At Glencore R75-million school donation are (from left) principal AS Mahlangu; Glencore Coal South Africa CEO Clinton Ephron; Glencore CEO Ivan Glasenberg; Basic Education Minister Angie Motshekga, Education MEC Reginah Mhaule, Emalahleni Mayor Salome Sithole, School Governing Body chairperson DP Maimela; District Basic Education Director Jerry Mabena.

Mintek unveils pilot rare earth solvent extraction plant

By: Ilan Solomons Local State-owned mineral and metallurgical innovation company Mintek on Friday officially opened a rare earth solvent extraction pilot plant at its head offices in Johannesburg. Research and development of the technology for the plant cost about R50-million, while the value of the plant itself... 

Mintek unveils pilot rare earth solvent extraction plant

Glencore puts millions into education in Mpumalanga coalfields

Mining and marketing giant Glencore, which recently provided R2.76-million in funding for the LaunchPad video mentoring facility for learners in the Phola community of Mpumalanga, on Friday also launched a R75-million state-of-the-art school in Phola for learners in the province's coalfields,... 

Glencore puts millions into education in Mpumalanga coalfields
Photo by Duane Daws
Glencore CEO Ivan Glasenberg and Basic Education Minister Angie Motshekga

Jobless mining engineering graduates plead for look in

By: Martin Creamer Jobless mining engineering graduates are pleading for inclusion in South Africa’s mining industry in preparation for the sector’s inevitable upturn in the future. Speaking to Creamer Media’s Mining Weekly Online in a video interview on the sidelines of the Junior Indaba in Johannesburg, Society... 

Jobless mining engineering graduates plead for look in
Photo by Creamer Media
Smangaliso Musawenkosi (left) and Martin Creamer
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