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Merafe Resources says output from joint venture with Glencore up 20%

By: African News Agency      19th October 2018 Mining company Merafe Resources said on Friday its ferrochrome production from the Glencore Merafe Chrome Venture for the third quarter ended 30 September 2018 increased by 20% to 84 000 t compared with the same period in 2017. Merafe said the increase was as a result of less planned maintenance... 

Zambia's finance minister says new mining taxes will not hit operations

By: Reuters     18th October 2018 Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes in Africa's No.2 copper producer, its finance minister said on Wednesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase... 

Glencore chair Tony Hayward latest to drop out of Saudi conference

By: Reuters     17th October 2018 Glencore said its chairman Tony Hayward will no longer be attending the Future Investment Initiative conference in Saudi Arabia, confirming a report in the Financial Times. He is the latest top executive to pull out of next week's high profile conference, amid widespread concern about the fate... 

Glencore’s Hail Creek restructuring hits 400 jobs

By: Esmarie Iannucci     15th October 2018 Diversified miner Glencore has announced plans to ‘reconfigure’ its Hail Creek coal mine, in Queensland, resulting in nearly 400 job losses. The miner announced that the two-dragline operation would be reconfigured into a truck-and-shovel mine, with a seven-day on, seven-day off roster. The... 

Congo miners seek concessions in new code as arbitration on hold

By: Bloomberg     12th October 2018 Miners in the Democratic Republic of Congo are seeking concessions under the nation’s new industry code and holding off challenging it through arbitration, in the hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer. Producers... 

Releasing exploration companies from onerous regulatory burdens is positive

By: Martin Creamer     12th October 2018 Mining Charter Three does not tie exploration companies down to the obligations it places on new mining licence applicants. Exploration has not been encumbered with 30% black economic empowerment obligations, 5% carried interest for labour, 5% carried interest for communities and the other boxes... 

Commission recommends tribunal approve RPM buyout of Mototolo

By: Marleny Arnoldi     10th October 2018 The Competition Commission has recommended to the Competition Tribunal that it approve Rustenburg Platinum Mines’ (RPM’s) acquisition of the Mototolo Joint Venture (Mototolo JV) and the movable assets of the Mototolo chrome recovery circuit. The commission found that the proposed transaction... 

The real cash cow in mining isn't metals. It's bad old coal

By: Bloomberg     10th October 2018 For all the bullish talk about metals of the future, miners are making some of their biggest profits from heavy-industry stalwart coal. Base metals from copper to zinc have tumbled this year, caught up as a proxy for trade fears and emerging market jitters. Meanwhile, coal has ground steadily... 

ERG bets on cobalt from Congo in quest for growth

By: Reuters     9th October 2018 Eurasian Resources Group (ERG) plans to ramp up cobalt output at its Democratic Republic of Congo (DRC) facility as it expects the electric car industry to boost demand for the metal, ERG CE Benedikt Sobotka told Reuters. ERG, a global mining and metals group with Kazakh roots, aims to raise... 

Is the reign of Glencore’s billionaire copper king near its end?

By: Bloomberg     9th October 2018 Aristotelis Mistakidis is one of the world’s most powerful commodity traders. For nearly 20 years, the brash, hyperactive Greek known to everyone simply as “Telis” has ruled over the global copper market, buying and selling enough of the red metal to supply every factory in the US twice over.... 

Australia’s Newcastle port is ordered to cut coal carrying costs for Glencore

By: Esmarie Iannucci     8th October 2018 The Australian Competition and Consumer Commission (ACCC) has ordered the Port of Newcastle Operations (PNO) to reduce its charges for ships carrying coal for mining major Glencore by 20%. In January 2015, PNO increased the charge for coal ships entering the port by about 40% to A$0.69/t. 

Vitol, Trafigura to bid for coal mines once owned by Guptas

By: Bloomberg     5th October 2018 Commodities traders Vitol Group and Trafigura Group have entered the bidding process for South Africa’s Optimum Coal, a miner under bankruptcy protection that was once controlled by the Gupta family. The interest from two of the biggest commodities trading houses underscores the strategic value... 

Mining firms say Zambia's tax hike plan would ruin economy

By: Reuters     4th October 2018 Zambia's proposed mining tax increases would hobble Africa's second biggest copper industry, companies said on Thursday, a further warning to investors already concerned about the country's mounting debt. Several mines would become unprofitable if the tax plans were implemented with overall... 

Glencore backs $1bn acquisition of Chevron South Africa by black-owned consortium

By: Terence Creamer     28th September 2018 Black economic empowerment (BEE) consortium Off The Shelf Investments (OTS) confirmed on Friday that it had acquired Chevron South Africa (CSA) in a deal valued at $1-billion and financed by its technical and financial adviser, Glencore. CSA, which owns the Chevron refinery in Cape Town and the... 

Glencore increases share buy-back programme by $1bn

By: Simone Liedtke     25th September 2018 Global diversified miner Glencore has increased its $1-billion share buy-back programme by a further $1-billion, and also extended the duration of the programme until the close of dealings in February 2019. The implementation of the programme is in line with the company’s financial policies and... 

Investor confidence takes on new hue, South Africa needs to embrace it with vigour

By: Martin Creamer     21st September 2018 Investor confidence is no longer a stand-alone in the South African context, where it includes other key confidences. In delivering 51% higher headline earnings of R4 814-million in the 12 months to June 30 accompanied by a hefty R1.7-billion cumulative dividend payout, African Rainbow Minerals... 

Glencore to issue new bonds

By: Marleny Arnoldi     20th September 2018 Global diversified miner Glencore has placed a tap issue of nondilutive zero-coupon cash settled guaranteed convertible bonds for $125-million to be consolidated with its $500-million nondilutive bonds due 2025. The new bonds are to be issued on the same terms as the original bonds and, as of... 

Rio Tinto returns $3.2bn in coal disposal proceeds to shareholders

By: Marleny Arnoldi     20th September 2018 Anglo-Australian multinational mining group Rio Tinto on Thursday unveiled how it intends to return the proceeds of its recent Australian coal disposals to its shareholders. The company will launch a $3.2-billion share buyback programme, combining an off-market buyback tender targeting up to... 

Congo expects declaration on strategic metals by end of October

By: Bloomberg     18th September 2018 The Democratic Republic of Congo expects to issue a decree identifying strategic metals by the end of October, a government official said. Congo’s government has said it’s preparing to categorize cobalt and other metals as strategic, imposing a 10% royalty tax on producers including Glencore and... 

How Anglo quietly built a commodity trader in Glencore's shadow

By: Bloomberg     17th September 2018 Anglo American has quietly become a commodities trader. In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking... 

Chilean lawmakers study extra tax for copper, lithium mines

By: Reuters     14th September 2018 Chile's congress is studying a proposal for an additional royalty payment for copper and lithium miners operating in the country to bolster the development of the regions around their deposits, according to a draft seen by Reuters. The initiative, which was put forward by opposition legislators... 

Collahuasi copper mine in Chile to raise output 4% this year -VP

By: Reuters     14th September 2018 The copper mine Collahuasi in Chile is expected to produce 545 000 t of copper this year, 4% more than in 2017, its vice president of operations, Francisco Carvajal, told journalists on the sidelines of an event in Peru on Thursday. Collahuasi, owned by Anglo American and Glencore, is located in... 

Zambia’s operational investment spikes

By: Paige Müller     14th September 2018 A positive shift in Zambia’s copper and cobalt mining industries has resulted in an increase in much-needed operational investments by major mining houses, says mining, bulk materials handling and minerals processing equipment and systems supplier TAKRAF Africa. TAKRAF Africa regional sales... 

The Dickinson Group 

13th September 2018 The Dickinson Group of Companies is a leading provider of furnace and industrial services to the mining, metal smelting, mineral processing, thermal power generation and petrochemicals refining industries. The company has the capacity, technology, equipment and expertise to undertake complex... 

Ramelius buys WA gold project

By: Mariaan Webb     13th September 2018 Acquisitive Ramelius Resources on Thursday announced that it would buy the Marda gold project, about 190 km from its Edna May operation in Western Australia for A$13-million. The company, which earlier this week launched a hostile takeover for Explaurum, said that the Marda resource could be a... 

Congo plans to build special economic zone for cobalt users

By: Bloomberg     12th September 2018 The Democratic Republic of Congo plans to establish special economic zones for companies that manufacture goods from the country’s minerals, President Joseph Kabila said. “There is a need to create special economic zones for the final users of Congolese natural resources,” Kabila said at a... 

Congo Mines Minister insists no compromise on new mining code

By: Reuters     12th September 2018 Democratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question. Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry... 

Manganese takes pole position in ARM’s earnings surge

By: Martin Creamer     10th September 2018 Manganese formed the backbone of the earnings performance of diversified mining company African Rainbow Minerals (ARM) in the 12 months to June 30, delivering 64% of the headline earnings, at R1.9-billion, and helping the company move into a strong net cash position by recording the best margin.... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe

By: Martin Creamer     7th September 2018 Diversified mining company African Rainbow Minerals (ARM) is right now looking at some very exciting growth opportunities, its executive chairperson Patrice Motsepe said on Friday. After announcing the delivery of 51% higher headline earnings of R4 814-million in the 12 months to June 30... 

Glencore completes sale of Rosneft stake to Qatar

By: Marleny Arnoldi     7th September 2018 Global diversified miner Glencore has completed the sale of its 14.16% stake in Russian integrated energy company Rosneft to a wholly-owned subsidiary of Qatar Investment Fund (QIA) for €3.7-billion. Glencore now holds a direct equity stake in Rosneft of 0.57% and QIA holds a direct equity... 

Northam says growth strategy remains on track

By: Simone Liedtke     7th September 2018 Platinum producer Northam Platinum’s growth, diversification and optimisation strategy is on track, with progress being made in the development of the Booysendal South and Zondereinde mines, in Limpopo. Zondereinde has enjoyed relatively stable labour relations over the past few years, which has... 

African Rainbow Minerals earnings rise, cash mounts, dividend boosted

By: Martin Creamer     7th September 2018 The headline earnings of diversified mining company African Rainbow Minerals (ARM) rose sharply in the 12 months to June 30, when the company generated strong cash flow that has underpinned a boosted cumulative dividend payout of R1.7-billion. Headline earnings increased by 51% to R4 814-million,... 

Peru Minister proposes making tax benefit for miners permanent

By: Reuters     7th September 2018 Peruvian Energy and Mines Minister Francisco Ismodes on Thursday proposed making a temporary tax benefit for mining companies part of the country's permanent tax code in order to reduce investment uncertainty in the world's No. 2 copper producer. Miners in Peru have enjoyed refunds on an 18%... 

Zambia seen considering higher mine taxes to trim Budget gap

By: Bloomberg     6th September 2018 Zambia plans to trim its fiscal deficit next year even as Africa’s second-biggest copper producer boosts spending. It may be considering raising mine taxes to achieve that, according to analysts. The Finance Ministry is targeting a budget shortfall of 6.5% of gross domestic product next year,... 

Copper deal day hits with a flurry of M&A for the hottest metal

By: Bloomberg     5th September 2018 "Everyone loves copper and everyone wants to buy it” has been this year’s mining mantra. Today the ball started rolling. China’s Zijin Mining Group swooped on a huge undeveloped copper mine in Serbia, acting as a white knight to beat out an earlier hostile bid from a Canadian rival. At the same... 

Tando ready to start 7.1 km drilling programme at South African vanadium project

By: Marleny Arnoldi     3rd September 2018 ASX-listed junior miner Tando Resources has mobilised one reverse circulation and one diamond core drilling rig at its SPD Vanadium project, in South Africa’s Bushveld Complex, and is ready to start a A$1.4-million drilling programme. Assay results are expected to underpin strong newsflow over... 

Local innovation drives value in chrome industry

By: Creamer Media Reporter      3rd September 2018 It is not only chromium producers that are benefiting from the high global demand for stainless steel. The situation also bodes well for South African platinum group metals producers, considering that a large portion of chromite is extracted relatively cost-effectively and effortlessly from their... 

Miners establish industry body to engage DRC govt on mining code, industry issues

By: Marleny Arnoldi     23rd August 2018 Mining companies active in the Democratic Republic of Congo (DRC) have established a new industry body, the Mining Promotion Initiative (MPI), to engage with government on industry concerns about the country’s new mining code and any other material issue concerning the mining industry in the DRC.... 

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