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Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer     Updated 3 hours ago A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Central Rand Gold raising $1.85m to boost surface mining

By: Martin Creamer London- and Johannesburg-listed gold-mining company Central Rand Gold, which is currently being courted by three Chinese suitors, is taking steps to raise $1.85-million in equity capital to boost surface mining production, bring idled underground equipment to surface and reduce staff. The focus... 

Central Rand Gold raising $1.85m to boost surface mining
Photo by Duane Daws
Johan du Toit

CoAL extends mine sale deadline, capital-raise timeframe

By: Martin Creamer The deadline for the disposal of the Mooiplaats colliery by the triple-listed Coal of Africa Limited (CoAL) as well its capital-raising timeframe have been extended out. Johannesburg, London and Sydney-listed CoAL said on Wednesday that it had agreed to give suitor Blackspear Capital more time to... 

CoAL extends mine sale deadline, capital-raise timeframe
Photo by Duane Daws
David Brown

Harmony Gold, Newcrest to spend $2.3bn on Golpu feasibility

By: Martin Creamer Gold mining companies Harmony Gold of South Africa and Newcrest Mining of Australia plan to spend $2.3-billion on developing their Golpu deposit in Papua New Guinea. Harmony and Newcrest, which each own 50% of the Golpu project through the Wafi-Golpu Joint Venture, on Monday gave a firm thumbs up... 

Harmony Gold, Newcrest to spend $2.3bn on Golpu feasibility
Photo by Duane Daws
Graham Briggs

Goverment moves apace with one-stop shop plans

By: Esmarie Swanepoel The Australian Petroleum Production and Exploration Association (Appea) has welcomed the Commonwealth government’s progress on the development of a one-stop shop for environmental approvals, after bilateral agreements with both South Australia and New South Wales were thrown open for public... 

Broke Cons Murch antimony mine begins business rescue proceedings

By: Martin Creamer The troubled antimony and gold operation Cons Murch, which is in financial distress, has begun voluntary business rescue proceedings in consultation with the Department of Mineral Resources, JSE-listed Village Main Reef said on Monday. Its decision follows the inability of unlisted Australian... 

Broke Cons Murch antimony mine begins business rescue proceedings
Photo by Duane Daws
Ferdi Dippenaar

Strateco Resources files motion to sue Quebec government for $190m

By: Henry Lazenby Uranium explorer Strateco Resources is claiming C$190-million from the Quebec government in a motion it filed with the Superior Court of Quebec on Thursday to institute proceedings. Boucherville, Quebec-based Strateco was seeking damages for the loss of its mothballed flagship Matoush project, in... 

Strateco Resources files motion to sue Quebec government for $190m

Amendment places additional reporting obligations on employers

By: Chantelle Kotze Changes to the Mine Health and Safety Act (MHSA) have been made, which the mining industry must heed to ensure it is compliant going forward, says law firm Webber Wentzel partner Kate Collier. 

Amendment places additional reporting obligations on employers
KATE COLLIER These regulations are important for workplace health and safety in general, and in the mining industry in particular, to continuously develop and improve

Legislative uncertainty impacting on mining, worrying investors

By: Chantelle Kotze Regulatory and legislative uncertainty – with specific reference to gaps created by the amendments to the Mineral and Petroleum Resources Development Act (MPRDA) and the National Environmental Management Act (NEMA) – is not only one of the key challenges that the South African exploration and... 

Legislative uncertainty impacting on mining, worrying investors
WARREN BEECH Mining companies need to ensure that a realistic picture of the challenges are created because once accepted, they can be dealt with

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open-for-business’ approach and myriad investment opportunities – in terms of green- and brownfield projects across the commodity spectrum – Africa’s... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Impala Platinum selling shares to workers in R1.1bn deal

By: Martin Creamer South Africa’s second-largest platinum mining company is selling shares in the company’s primary operational subsidiary to employees in a R1.1-billion deal. The JSE-listed Inplats said on Thursday that it had concluded a vendor-financed equity transaction with Impala Platinum Limited, which owns... 

Impala Platinum selling shares to workers in R1.1bn deal
Photo by Duane Daws
Terence Goodlace

Tighter coal market in sight – Glencore

By: Martin Creamer A natural tightening of the coal market as a result of demand catching up with supply will happen in the near future, says Glencore Coal CEO Peter Freyberg. Freyberg, who was addressing Glencore’s investor day, made the point that coal is not in the same over-supply situation as iron-ore and that... 

Tighter coal market in sight – Glencore
Photo by Bloomberg
Peter Freyberg

Resources Watch

By: Creamer Media Reporter This week: Lonmin and Amcu celebrate the finalisation of a landmark BEE equity deal. And, mineworker numbers are set to fall 8% a year. 

Resources Watch

India’s Supreme Court rejects petitions to review coal block verdict

By: Ajoy K Das In a series of diverse rulings, India’s Supreme Court has turned down petitions from a spate of private companies to review its earlier decision to cancel the allocation of 214 coal blocks, but has agreed to hear a plea against a government ordinance issued in the wake of the cancellations. The... 

Chamber offers to work with Eskom on national power solutions

By: Martin Creamer The mining industry was willing to engage with State power utility Eskom to find solutions that would help to improve electricity supply. Chamber of Mines president Mike Teke expressed the chamber’s concern about the negative impact of load shedding on the mining sector and said mining’s... 

Chamber offers to work with Eskom on national power solutions
Photo by Duane Daws
Mike Teke

Govt rolls out streamlined licensing process to enhance mining competitiveness

By: Sashnee Moodley Government on Monday rolled out its One Environmental System to streamline licensing processes for mining, environmental authorisations and water use.  

Govt rolls out streamlined licensing process to enhance mining competitiveness

DRC’s Orientale ‘open for business’ – Bamanisa

By: Natasha Odendaal The Democratic Republic of Congo’s (DRC's) largest province has embarked on a roadshow to court public–private partnerships (PPPs) and attract investors to develop the 503 239 km2 region that is being rebuilt. The Province Orientale aimed to draw investors to opportunities in public works,... 

DRC’s Orientale ‘open for business’ – Bamanisa
DRC Province Orientale Governor Saidi Jean Bamanisa

Zambia tax reform proposals could spell disaster for mines

By: Chantelle Kotze Zambia’s 2015 budget, which contains proposals for far-reaching reforms to the mining fiscal tax regime, will have significant implications for the mining industry, leaving several mines cash flow negative and unsustainable, so much so that mining companies with high production costs will have to... 

Zambia tax reform proposals could spell disaster for mines
Photo by Bloomberg
INDUSTRY UNDER THREAT Zambia’s 2015 budget could nullify incentives to invest in the country’s mining industry

Trade unions threaten indefinite strike over India coal mining reforms

By: Ajoy K Das After opting out of a day-long strike last month, trade unions representing staff from miner Coal India Limited (CIL) have taken an aggressive stance threatening an indefinite strike to protest the Indian government’s move to open up coal mining to private investors. The trade unions, claiming... 

Greenland parties in coalition talks, mining in focus

By: Reuters Greenland's two main parties, who disagree on mining regulations that could impact foreign investment, are in coalition talks following an election last week, one of them said on Wednesday. Greenland's 56 000 people voted on Friday in a snap election called after an expenses scandal involving... 

Secret platinum stocks declining – World Platinum Investment Council 

By: Martin Creamer The volume of vaulted platinum holdings held confidentially is declining, the recently launched World Platinum Investment Council said on Wednesday. The council, which has just published its first quarterly analysis of global platinum supply and demand fundamentals, said the platinum shortfalls... 

Secret platinum stocks declining – World Platinum Investment Council
Paul Wilson

India’s FIMI flays proposed mine legislation

By: Ajoy K Das The new mining and mineral sector legislation proposed by the Indian government, which envisions an auction process to allocate resources, would be the death knell for the industry, the Federation of Indian Mineral Industries (FIMI) claimed. In a communication to Prime Minister Narendra Modi, by... 

Mineworker numbers set to fall 8% a year – Teba

By: Martin Creamer The number of mineworkers employed in gold mining and platinum mining in South Africa is expected to decline by about 8% a year in the next two years, says Teba Limited CEO Graham Herbert. Herbert, who spoke to Mining Weekly Online in the attached video interview, says his company – which is... 

Mineworker numbers set to fall 8% a year – Teba
Photo by Duane Daws
Graham Herbert (right) and Martin Creamer

Guatemala industry chamber mulls legal fight to mining royalty hike

By: Reuters Guatemala's plan to ratchet up the mining royalty from 1% to 10% will hurt investment in the country, a leading local business group said on Tuesday, as it considered whether to mount a legal challenge. Late last week, Guatemala's Congress changed a nearly 20-year-old mining law to raise the... 

Kyrgyz leader calls for deal with Centerra Gold by year-end

By: Reuters Kyrgyzstan's President Almazbek Atambayev has said his country must resolve its long-running dispute with Centerra Gold this month, because otherwise it may face the prospect of nationalising the Canadian company's gold mine. The Toronto-listed company operates Kumtor, the Central Asian nation's... 

Harmony Gold outlines plan to fix lossmaking mine with fewer workers

By: Martin Creamer A new plan that requires fewer employees to mine lower volumes at higher grades and reduced cost, is being implemented at Harmony Gold’s lossmaking 6 300-employee Kusasalethu gold mine near Carletonville. “Without these actions, this mine will not survive and that would be a tragedy for our... 

Harmony Gold outlines plan to fix lossmaking mine with fewer workers
Photo by Duane Daws
Graham Briggs

India’s proposed mining legislation silent on profit sharing

By: Ajoy K Das India’s proposed legislation to reform the governance of the mining sector makes no mention of profit sharing by mining companies, indicating the government’s lingering indecision on the issue. According to an official in the Mines Ministry, the Mines and Minerals Development and Regulation... 

Tahoe Resources laments potential 5% Guatemalan royalty rate hike

By: Henry Lazenby Silver producer Tahoe Resources, which declared commercial production at its flagship Escobal silver/lead/zinc mine, in south-eastern Guatemala, in January, lamented a potential 5% rise in the country’s royalty rate after Congress passed legislation on Friday aimed at increasing statutory... 

Venter in surprise Exxaro exit 

By: Martin Creamer Diversified mining company Exxaro sprung a surprise on Monday when it revealed that its projects and ferrous head Ernst Venter would be leaving its employ at the end of February. The JSE-listed company said that Venter had opted to pursue other career opportunities outside of the Exxaro group. 

Venter in surprise Exxaro exit
Photo by Duane Daws
Ernst Venter

Gold Fields hands over R27m houses in SLP drive

By: Martin Creamer Gold-mining company Gold Fields has provided R27-million for the building of 150 houses in the troubled Bekkersdal area, as part of its social and labour plan (SLP) obligations that give it the licence to operate. The Johannesburg- and New York-listed company also donated land on which it will... 

Gold Fields hands over R27m houses in SLP drive
Photo by Duane Daws
Nico Muller

Zambia’s 2015 budget threatens viability of mines in the country

By: Chantelle Kotze Zambia’s 2015 budget, which contained proposals for far-reaching reforms to the mining fiscal tax regime, would have significant implications for the mining industry, leaving several mines cash flow negative and unsustainable, so much so that mining companies with high production costs would have... 

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