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AfDB optimistic about Eskom’s turnaround prospects

By: Terence Creamer     Updated 47 minutes ago The African Development Bank (AfDB), which has extended billions of rands in loans to Eskom, says it is optimistic the actions being taken to turnaround the embattled South African power utility will bear fruit. Power, energy, climate and green growth complex VP Amadou Hott told Engineering News... 

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem 

By: Terence Creamer     18th February 2019 Black business luminary Patrice Motsepe has labelled as “ridiculous” a recurring allegation that African Rainbow Energy & Power (AREP) is part of an unscrupulous plan to collapse Eskom and supplant the State-owned power utility with independent power producers (IPPs), in which the business would... 

There’s liquidity in gas

18th February 2019 Mozambique is no stranger to mega-projects with large foreign direct investments dating back to the 90’s. Mozambique, through its National Oil Company, has again partnered with International Oil Companies for the development of gas resources discovered in offshore Mozambique. RMB’s Oil and Gas... 

Anglo American Platinum appoints Craig Miller as Finance Director

18th February 2019 Anglo American Platinum Limited (“Anglo American Platinum”) announces the appointment of Craig Miller as Finance Director, following Ian Botha’s resignation, as announced in September 2018. Craig will join Anglo American Platinum and its Executive Committee as Finance Director on 1 April 2019.... 

Trust in tailings? Vale dam disaster spurs investors into action

By: Reuters     15th February 2019 Seeking assurances from Brazilian miner Vale by phone after a second deadly dam disaster in three years is not enough for Sasja Beslik. He plans to fly there himself to get answers. Beslik, head of sustainable finance at Swedish bank Nordea, blocked the bank's investment managers from buying any... 

Petropavlovsk says IRC facility refinanced

By: Simone Liedtke     15th February 2019 Russian miner Petropavlovsk announced on Friday that it had reached an important step in concluding the refinancing of a $240-million facility that Hong Kong-based IRC, in which it is a large shareholder, has with the Industrial and Commercial Bank of China (ICBC). Petropavlovsk is the guarantor... 

Government key role-player fostering competitive minerals industry

By: Jessica Oosthuizen     15th February 2019 Government plays a key role in creating a favourable environment for a competitive Canadian mineral industry that will continue to provide significant socioeconomic benefits, says industry organisation Prospectors & Developers Association of Canada (PDAC) president Glenn Mullan. He tells Mining... 

Nico project positioned to help meet growing cobalt demand

By: Jessica Oosthuizen     15th February 2019 Development-stage mining company Fortune Minerals’ Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories, is one of the few cobalt development stage projects situated outside of the Democratic Republic of Congo (DRC) that can support near-term accelerating demand for cobalt,... 

Local manufacturers to benefit from Mining Charter 3's implementation 

By: Nadine James     14th February 2019 Mining Charter 3 and its Implementation Guidelines have created an environment where it is possible for local manufacturers to leverage procurement capacity to drive transformation, Department of Mineral Resources representative Xolile Mbonambi said at a breakfast held at the Industrial... 

Kibo, Edenville’s shares knocked by Tanesco bid rejection

By: Marleny Arnoldi     14th February 2019 The share prices of Kibo Energy and Edenville Energy took a knock on Thursday after the companies announced that they had not qualified to participate in the next stage of a bidding process by the Tanzania Electricity Supply Company (Tanesco) to develop coal power projects with a total capacity... 

Ramaphosa promises to correct lack of consultation with labour on Eskom unbundling 

By: Terence Creamer     14th February 2019 President Cyril Ramaphosa acknowledged on Thursday that there had been insufficient consultation with labour on government’s plan to unbundle Eskom into three separate companies, but he also stressed that the proposed restructuring would not result in privatisation. In his response to the debate... 

How the UK is using over 150 years of mining heritage to secure sustainable economic development in Africa for the next 150 years and beyond.

14th February 2019 On the 6th February 2019, Cape Town, South Africa, visitors to the biggest mining conference in Africa, Mining Indaba, were invited to an industry dialogue between key figures in mining, agriculture, finance and government, at a panel discussion hosted by the UK’s Department for International... 

Improving Conditions for Solar Energy Investment in Ethiopia

14th February 2019 By Kieran Whyte, Partner and Head of the Energy, Mining & Infrastructure Practice, Mike Webb, Senior Associate, Baker McKenzie Johannesburg, and Yibeltal Shiferaw, on secondment from Tadesse Kiros Law Offices (TKLO) in Ethiopia Project Landscape 

Famed Cullinan mine banks on big diamonds to drive down debt

By: Reuters     14th February 2019 The owner of one of the world's most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand. Petra Diamonds bought Cullinan in 2008, aiming to breathe new life... 

Shifting R100bn in Eskom debt to government will have ‘dire’ economic consequences 

By: Terence Creamer     13th February 2019 Amid confirmation that Eskom is technically insolvent and will require a capital injection by April to remain a going concern, a leading economist is cautioning against the proposed transfer of R100-billion of the utility’s debt to government’s balance sheet. Instead, Standard Bank chief... 

Lemur completes review of power BFS for Imaloto project

By: Tasneem Bulbulia     13th February 2019 Bushveld Minerals subsidiary Lemur has completed the review of the bankable feasibility study (BFS) for the power aspect of its Imaloto integrated thermal coal mining and independent power producer (IPP) project, in Madagascar. It has also issued a request for proposals for legal advisory... 

Bacanora sees busy six months ahead with Zinnwald study, Sonora financing

By: Mariaan Webb     13th February 2019 London-listed lithium exploration and development company Bacanora Lithium CEO Peter Secker said on Wednesday that the company is in for a busy six months, as it works to finalise the funding package for its Sonora project, in Mexico, and complete a feasibility study for the Zinnwald project, in... 

South Africa's biggest labour group embarks on nationwide strike

By: Bloomberg     13th February 2019 South Africa’s biggest labor federation will embark on a nationwide protest on Wednesday that will keep teachers, policemen, miners and workers at embattled power utility Eskom away from their posts amid a fourth day of rolling blackouts. The National Union of Mineworkers -- an affiliate of the... 

Indiana looks at Mali JV with Altus

By: Esmarie Iannucci     8th February 2019 Junior Indiana Resources has signed a nonbinding term sheet to form a joint venture (JV) with Aim- and TSX-listed Altus Strategies for exploration licences in the Mali gold belt. Under the terms of the agreement, Indiana could earn an 85% interest in the Lakanfla and Tabakarole gold projects, in... 

Kim Schoepflin

By: Martin Creamer     8th February 2019 This week Mining Weekly features Kim Schoepflin, the CEO of Kwatani, an original equipment manufacturer of custom vibrating equipment for the mining industry  

Ramaphosa promises ‘meaningful consultation’ as he confirms split of Eskom into three units 

By: Terence Creamer     7th February 2019 President Cyril Ramaphosa confirmed on Thursday that South Africa’s embattled State-owned electricity producer would be split, under Eskom Holdings, into three separate entities – generation, transmission and distribution – in an effort to bring credibility to the turnaround of the utility and to... 

Arafura releases Nolans DFS; targets construction next year

By: Esmarie Iannucci     7th February 2019 A definitive feasibility study (DFS) into the Nolans neodymium-praseodymium (NdPr) project, in the Northern Territory, has confirmed the project’s economics, with ASX-listed Arafura Resources planning to start project commissioning by mid-2022. At a capital cost of just over A$1-billion, the... 

Minerals Council’s national platinum strategy targets real potential 

By: Martin Creamer     6th February 2019 Minerals Council South Africa on Wednesday launched a national platinum strategy, which aims at sustaining a million jobs and contributing R8.2-trillion to South Africa’s economy by 2050. Speaking at a media conference at Investing in African Mining Indaba on Wednesday, Minerals Council CEO Roger... 

Zambia receives bids for stake in State mining investment arm

By: Reuters     5th February 2019 Zambia has received bids from Canada's First Quantum Minerals (FQM) and others for a 17% stake in state mining investment arm ZCCM-IH, the finance minister said on Tuesday. "There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions,"... 

Metals streaming transactions to raise capital gain traction in Africa – Baker McKenzie

By: Tasneem Bulbulia     5th February 2019 Metals streaming transactions as a way to raise capital for development or acquisition financing is gaining popularity among African mining companies, says Baker McKenzie managing partner Morne van der Merwe and Banking and Finance head Wildu du Plessis.   They point out that such transactions... 

Firestone on track to meet FY guidance despite subdued environment

By: Simone Liedtke     4th February 2019 Aim-listed Firestone Diamonds on Monday reported that it had treated 1.9-million tonnes of ore in the six months to December 31, in line with the company’s full-year guidance of between 3.6-million tonnes and 3.9-million tonnes treated. In a quarterly operations update for its Liqhobong diamond... 

Increased regulatory certainty bolsters direct foreign investment

By: Paige Müller     1st February 2019 African law firm ENSafrica states that there has been a concerted effort to reintroduce legal certainty into South Africa’s mining and minerals industries in the hopes that a stable legislative and regulatory regime will boost foreign direct investment into these critical industries. Mining is a... 

PGM-using patents abound – CPM  

By: Martin Creamer     31st January 2019 Viable patents that involve the use of platinum group metals (PGMs) should be commercialised so that PGMs become less dependent on the automotive market, says CPM Group MD and founder Jeffrey Christian. CPM’s current projections, which are similar to those in the automotive and electricity supply... 

ABR slashes costs at US borate project

By: Esmarie Iannucci     31st January 2019 ASX-listed American Pacific Borate and Lithium (ABR) is considering a lower cost development at its Fort Cady borate project, in Southern California. A December definitive feasibility study (DFS) considered a three-phase construction, with Phase 1 to deliver some 82 000 t/y of boric acid and 36... 

How South Africa could fix distressed Eskom

By: Bloomberg     31st January 2019 South Africa’s government will announce within a month how it plans to fix Eskom Holdings, the embattled state utility that supplies more than 90% of the nation’s power. There are no easy remedies. The company is R419-billion in debt, is losing money hand over fist, has way more staff than it... 

South Africa's largest labour union plans nationwide strike over mass layoffs  

By: Reuters     30th January 2019 South Africa's largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms and at private companies. The decision by the Congress of South African Trade Unions... 

Vedanta’s Zambia unit says new tax regime won't affect jobs

By: Bloomberg     30th January 2019 Vedanta's Zambian unit will press ahead with expansion plans even as the government of Africa’s second-biggest copper producer increased mining royalties, and has undertaken not to fire any workers. The assurance by Konkola Copper Mines, following a meeting between management and government... 

Giyani secures $1m loan facility for Botswana projects

By: Creamer Media Reporter      29th January 2019 Canadian junior exploration company Giyani Metals has signed a term sheet with Traxys Africa Trading for the provision of a $1-million convertible loan facility. TSX-V- and Frankfurt Stock Exchange-listed Giyani will use the funds to finance the development and operation of its K.Hill and Otse... 

Premier signs financing agreements for $68m

By: Tasneem Bulbulia     25th January 2019 Canadian precious metals miner Premier Gold Mines has signed a definitive credit agreement with Investec Bank, as administrative agent for the lenders for a $50-million secured revolving term credit facility, the company announced on Friday. Premier also announced financing arrangements with OMF... 

Tulu Kapi development gaining traction

By: Tasneem Bulbulia     25th January 2019 Aim-listed Kefi Minerals’ Ethiopian private sector project partner ANS Mining has increased its investment commitment to subscribe for new shares in project company Tulu Kapi Gold Mines (TKGM) to the Birr equivalent of $38-million, compared with the previously planned commitment of $30-million.... 

Fieldfisher advises on over US$1 billion of metals and mining deals

25th January 2019 Firm strengthens reputation as leading adviser to growing international mining and metals companies, successfully closing a string of major strategic financing and broader corporate deals in testing market conditions. European law firm Fieldfisher closed mining and metals deals in excess of US$1... 

On-The-Air (25/01/2019) 

By: Martin Creamer     25th January 2019 South Africa’s platinum outlook received a blow this week when cobalt was selected ahead of it for a new technology. Richards Bay Coal Terminal has again proved how well business and government can combine for the good of the South African economy. The World Economic Forum has highlighted the... 

Ari Budin

By: Martin Creamer     25th January 2019 This week Mining Weekly features Ari Budin, the COO Magnitech, a 120-employee lighting manufacturer 

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