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AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

Miners insist on rewrite of Congo mining code to protect exemptions

By: Reuters     6th April 2018 International mining companies have insisted that Democratic Republic of Congo amend portions of a new mining code to respect exemptions they were granted by its predecessor. The companies announced last week that they had submitted a formal proposal to the government but the document itself,... 

Mobile communication boosts work milieu in deep-level mines

By: Donald Makhafola     6th April 2018 With deep-level mineworkers exposed to hazardous environments on a daily basis, companies need to improve their communication and planning to reduce the number of fatalities in the industry, says employee engagement company Wyzetalk CEO Gys Kappers. "Enhancing stakeholders' engagement through... 

ULPs drive innovation for underground mechanisation scheme

By: Donald Makhafola     6th April 2018 The MT3500X/NX and MT950 ultralow-profile (ULP) machines designed and developed by mining equipment and machinery supplier CMTI Group can facilitate mining at lower operating heights and at greater depths, as well as in inaccessible areas, such as remnant pillars and barred panels. "This is the... 

AngloGold Ashanti completes sale of Moab Khotsong mine

     6th April 2018 Gold producer AngloGold Ashanti has concluded the gross R3.574-billion sale of its Moab Khotsong gold mine, in the North West and related assets and liabilities to gold mining company Harmony Gold, as well as the separate sale of the Kopanang gold mine, in Gauteng and related assets and... 

Ghana to review corporate tax exemptions for resources sector

By: Reuters     5th April 2018 Ghana plans to review its process for granting corporate tax exemptions to mining and oil companies as part of measures to eliminate fraud and boost revenues, its vice president said on Wednesday. Mahamudu Bawumia said tax exemptions claimed by some resources companies were not transparent, and... 

Sub-Saharan African mining sector to continue facing illegal mining challenges, regulatory risks

By: Marleny Arnoldi     3rd April 2018 Widespread illegal mining activity and rising regulatory risks are two of the biggest challenges that will face the sub-Saharan Africa mining sector in the coming months, research and analysis firm BMI Research says.  

Mining industry submits mining code proposal to DRC govt

By: Marleny Arnoldi     29th March 2018 Mining industry representatives on Thursday submitted a formal proposal to the Democratic Republic of Congo (DRC) Ministry of Mines, aimed at addressing concerns about the country’s recently revised mining code and government’s revenue needs.  

DRC curbs expectations of miners about concessions on code

By: Bloomberg     19th March 2018 Mining companies in the Democratic Republic of Congo (DRC) won’t secure substantial concessions in talks with the state about changes to the industry code, a senior mining official said. The operators, including Glencore Plc and Randgold Resources, are pressing the government to row back on some... 

Energy-intensive firms say carbon tax wrong tool for reducing power emissions

By: Terence Creamer     14th March 2018 The Industry Task Team on Climate Change (ITTCC), which includes many of South Africa’s largest mining and industrial companies, says the proposed carbon tax will have no material impact on reducing carbon emissions from the electricity sector, which is responsible for around half of the... 

Exploration defines new prospect at Altus’ Mali licence

By: Simone Liedtke     13th March 2018 The first phase of prospecting at exploration project generator Altus Strategies’ Sebessounkoto Sud licence, in western Mali, has defined a 2.3-km-long target – the Soa prospect.   The prospect is located about 22 km from AngloGold Ashanti and IamGold's Sadiola gold mine. “Mapping, outcrop and... 

Biggest Ghana mine union plans strikes over Gold Fields jobs

By: Bloomberg     9th March 2018 Ghana’s largest mineworkers’ union plans protests and strikes throughout operations in the country if the government allows Gold Fields’s local unit to dismiss more than 2,000 staff as it starts the process of hiring a contractor to operate its biggest mine in the West African nation. Gold Fields... 

Ghana, AngloGold agree to Obuasi redevelopment

     9th March 2018 Gold mining company AngloGold Ashanti has signed the regulatory and fiscal agreements with the government of Ghana that will provide the framework for the redevelopment of the Obuasi gold mine, in Ghana, into a modern, productive mining operation, the company announced in a press release last... 

Moab Khotsong, Kopanang sales concluded – AngloGold

By: Nadine James     2nd March 2018 AngloGold Ashanti on Friday announced that the sale of the Moab Khotsong mine to Harmony Gold and the sale of the Kopanang mine to Heaven-Sent SA Sunshine Investment, have been completed. The gross cash proceeds of R3.57-billion will be used to reduce debt, in line with AngloGold’s commitment to... 

Resources Watch  

     1st March 2018 South Africa falls to small percentage of AngloGold output And, Froneman calls for collective action towards zero harm in fatality-plagued mining business 

Ghana to tighten controls on gold exports to protect revenues

By: Reuters     28th February 2018 Ghana will certify the value of gold exports as part of efforts to tighten controls on the sector to ensure the state receives the revenues it is due, the vice president said on Tuesday. Ghana, Africa's second largest gold miner after South Africa, earned $5.78 billion from exports of the metal... 

Sibanye says clears most illegal miners from gold shafts

By: Reuters     26th February 2018 Precious metals producer Sibanye-Stillwater arrested nearly 1 400 illegal miners at its South African gold shafts last year in a blitz the company says has mostly ended the practice at its mines. Illegal gold mining has plagued South Africa for decades and it costs the government and the industry... 

South Africa falls to small percentage of AngloGold output 

By: Martin Creamer     20th February 2018 South African gold mines now represent around 13% of the AngloGold Ashanti portfolio, AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) said on Tuesday. The fall in the contribution from AngloGold's South Africa region mines follows the sale of Moab and Kopanang and the closure of the Tau... 

Moab Khotsong deal concluded

By: Megan van Wyngaardt     20th February 2018 Harmony Gold on Tuesday said all conditions precedent to its acquisition of Moab Khotsong from AngloGold Ashanti had been met and that the transaction would become effective on March 1. "The integration of Moab Khotsong will enhance the quality of our portfolio and boost our cash flows," said... 

Glencore, Randgold form group to challenge Congo law changes

By: Bloomberg     19th February 2018 Glencore and Randgold Resources are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body. In a letter sent to Congolese President Joseph Kabila on... 

Harmony's headline earnings soar, eight die, Moab transferred

By: Martin Creamer     13th February 2018 Harmony Gold on Tuesday reported improved earnings, production, grade and costs in the six months to December 31, but regrettably also eight fatalities. While Mining Weekly Online was engaged in the media conference, the transfer of ownership of Moab Khotsong assets to Harmony became official,... 

Randgold Resources achieves record production, reduces cost in high-performance year

By: Mia Breytenbach     5th February 2018 Randgold Resources has, for the seventh consecutive year, increased its gold production, boosting output by 5% year-on-year to 1.32-million ounces and exceeding the guidance for 2017. The miner has further reduced its total cash cost by 3% to $620/oz – the lowest level in six years. 

Harmony gets shareholder go-ahead for Moab Khotsong acquisition

By: Megan van Wyngaardt     1st February 2018 JSE-listed Harmony Gold Mining's shareholders have given a 99.6% approval of the miner's plans to acquire mining operations and related infrastructure from AngloGold Ashanti. The $300-million deal will include the Moab Khotsong mine, one of the newest South African deep-level mines, with... 

AngloGold output up but loss looms on impairment, retrenchment, silicosis costs

By: Martin Creamer     31st January 2018 Gold mining company AngloGold Ashanti produced more gold in the 12 months to December 31 than in the same period of 2016, but is heading for a basic loss for the period on impairment, retrenchment and silicosis settlement costs, the company said in a trading statement on Wednesday. Full-year... 

Harmony shareholders to vote on Moab Khotsong deal on Feb 1

By: Natasha Odendaal     25th January 2018 Harmony Gold has removed two resolutions from its meeting agenda to seek shareholder approval for the acquisition of Moab Khotsong, after reducing the potential equity capital raising from $200-million to $100-million on the back of sufficient cash resources and a strong production performance.... 

Silicosis trust has awarded quarter of R400m settlement to qualifying former mineworkers

By: Natasha Odendaal     10th January 2018 A trust formed in 2016 to compensate a group of former Anglo American South Africa and AngloGold Ashanti employees who suffer from silica-related illnesses, has already distributed about R102-million of a R395-million settlement. The Q(h)ubeka Trust was established in March 2016 following the... 

SCA postpones silicosis class action hearing

By: Megan van Wyngaardt     10th January 2018 The ongoing silicosis and tuberculosis class action litigation against South African gold miners has been postponed, following a request by representative attorneys to the registrar at the Supreme Court of Appeal (SCA) to do so. The SCA has granted approval for the postponement. The joint letter... 

Company moves forward with tailings retreatment project

By: Marleny Arnoldi     15th December 2017 Aim-listed Goldplat PLC’s recovery operation in South Africa, Goldplat Recovery, will be investing in a tailings retreatment project during 2018, as its growth over the past decade has resulted in the operation accumulating a large tailings stock dam.  

AngloGold’s Tropicana JV commits to Long Island strategy

By: Mariaan Webb     7th December 2017 Joint venture (JV) partners AngloGold Ashanti and Independence Group have committed to the initial phase of the Long Island strategy, which will ultimately add 2.1-million ounces to the Tropicana mine’s business plan and will extend the operation’s mine life by seven years to 2027. The... 

Vector eyes resource adjacent to world-class Kibali mine

By: Mariaan Webb     7th December 2017 Australian junior Vector Resources is negotiating with the Democratic Republic of Congo’s State miner, Sokimo, to establish two joint ventures (JVs), one of which is adjacent to the large Kibali gold mine of Randgold Resources and AngloGold Ashanti. Vector has signed a binding agreement with... 

Harmony Gold spells out value of Moab investment

By: Martin Creamer     6th December 2017 The acquisition of the Moab Khotsong gold mine represents a significant list of advantages for Harmony Gold, the company outlined in an investor brief on Wednesday. The Johannesburg Stock Exchange-listed gold mining company calculates that inclusion of the Moab Khotsong operations the company... 

Ausdrill wins contract extensions in Africa and Australia

By: Creamer Media Reporter      28th November 2017 Mining services company Ausdrill said on Tuesday it had secured two contract extensions at African operations and one in Western Australia. The ASX-listed firm reported that South Africa-based AngloGold Ashanti had awarded its wholly owned subsidiary African Mining Services (AMS), a provision... 

Gold miners shifting focus back to growth

By: Megan van Wyngaardt     22nd November 2017 While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to... 

AngloGold’s capex project progressing as planned, within budget

By: Mia Breytenbach     17th November 2017 JSE- and New York-listed AngloGold Ashanti says its high-return and low-capital projects in its international portfolio to extend mine lives and improve margins remain on track and within budget. “We expect . . . continued delivery to tight timelines and budgets on our portfolio-improvement... 

Harmony ups output, cuts costs, improves margins

By: Martin Creamer     7th November 2017 Gold-mining company Harmony produced 14% more gold in the three months to September 30, when it cut unit costs by 8% and improved the margins of profit at its South African operations. Excellent operational performance was responsible for the margin improvement and last month’s acquisition of the... 

AngloGold achieves strong Q3 performance, on track to meet FY guidance

By: Mia Breytenbach     6th November 2017 Johannesburg- and New York-listed AngloGold Ashanti generated free cash flow of $88-million in the third quarter of this year, following strong production and cost containment across its portfolio, and remains on track to meet its full-year guidance.  The free cash flow for the quarter, compared... 

AngloGold confirms two dead, six rescued after Mponeng fall-of-ground incident

By: Natasha Odendaal     3rd November 2017 Two miners have been confirmed dead, with six others rescued at AngloGold Ashanti’s Mponeng mine, near Carletonville, following a seismic activity-triggered fall-of-ground incident on Thursday morning. AngloGold Ashanti on Friday confirmed that the rescue team brought two more workers safely to... 

One dead, three missing after Mponeng fall-of-ground incident

By: Natasha Odendaal     2nd November 2017 A search and rescue operation is under way at AngloGold Ashanti’s Mponeng mine, near Carletonville, following a seismic activity-triggered fall-of-ground incident on Thursday morning. Four workers have been rescued; however, AngloGold confirmed to Mining Weekly Online that there was one confirmed... 

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