R/€ = 16.26 Change: -0.15
R/$ = 14.39 Change: -0.21
Au 1239.61 $/oz Change: -6.28
Pt 788.86 $/oz Change: -15.03


Harmony, Amplats report fatalities

By: Marleny Arnoldi     19th October 2018 Precious metals miners Harmony Gold and Anglo American Platinum (Amplats) both reported fatalities on Friday. A Harmony employee died after falling from a height, while working in the shaft bottom at the Kusasalethu mine, near Carletonville.  

Harmony agrees to pay R30m to settle FCSA dispute

By: Marleny Arnoldi     8th October 2018 JSE- and NYSE-listed Harmony Gold has reached a settlement with the Financial Sector Conduct Authority of South Africa (FCSA), related to the company’s financial results for the quarter ended March 31, 2007. Harmony states that the results for that quarter, at that stage unbeknownst to the... 

Village Main Reef, three unions conclude wage agreement

By: Simone Liedtke     5th October 2018 Village Main Reef has concluded a wage agreement with the National Union of Mineworkers (NUM), Solidarity and Uasa in respect of wages and conditions of service for the period from July 1, 2018, to June 30, 2021. The Association of Mineworkers and Construction Union (AMCU) is still considering... 

Platinum, gold CEOs say it’s time to bring curtain down on SA’s deep level mining

5th October 2018 By Brendan Ryan – Miningmx The era of deep-level gold and platinum mining in South Africa, which is the world leader in these fields, is drawing to a close with no more deep-level shafts likely to be sunk. 

Unions agree 3-year Harmony Gold wage deal

By: Reuters     3rd October 2018 Harmony Gold signed a three-year wage agreement with South Africa's National Union of Mineworkers (NUM) and two other unions on Wednesday, the company and unions said on Wednesday. Harmony said in a statement that the deal would see a R700 a month pay hike in the first year for the lowest-paid... 

On-The-Air (28/09/2018) 

By: Martin Creamer     28th September 2018 A China-backed South African mining company plans to build a rich metallurgical coal project in Limpopo province; Investment in South African mining was strongly promoted at this week’s Denver Gold Forum in the United States; and The government of Australia this week identified mining as the main... 

AMCU, NUM granted certificates of nonresolution in wage talks with Sibanye

By: Marleny Arnoldi     27th September 2018 The Commission for Conciliation, Mediation and Arbitration (CCMA) has granted certificates of nonresolution to the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM) regarding gold wage negotiations with Sibanye-Stillwater. The wage negotiations... 

Harmony Gold shows off growing portfolio quality in Denver

By: Martin Creamer     26th September 2018 Harmony Gold’s Moab Khotsong mine in South Africa and Hidden Valley mine in Papua New Guinea will together produce a third of the guided 1.5-million ounces in the 12 months to end June, with the projected 500 000 oz from these two operations being produced at an all-in sustaining cost of $950/oz,... 

NUM signs wage deal with AngloGold

By: Reuters     21st September 2018 South Africa's National Union of Mineworkers (NUM) signed a three-year wage deal with AngloGold Ashanti on Friday, inking the same agreement that other unions reached with the company earlier in the week. The agreement will mean an effective pay hike of over 12% for entry-level underground... 

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... 

Gold wage talks deadlock again between Sibanye and AMCU

By: African News Agency      20th September 2018 Wage negotiations between the Association of Mineworkers and Construction Union (AMCU) and Sibanye-Stillwater reached a deadlock once again on Thursday. "No agreement has been reached and wage talks continue," AMCU said in a terse statement. 

AngloGold reaches three-year wage deal with AMCU, Uasa, Solidarity

By: Marleny Arnoldi     17th September 2018 AngloGold Ashanti has concluded a wage agreement with unions, the Association of Mineworkers and Construction Union (AMCU), Uasa and Solidarity, in respect of wages and conditions of service for the three-year period starting July 1 and ending June 20, 2021. The wage agreement allows for... 

New Nema regulations hold advantages, disadvantages for mining industry – law firm

By: Marleny Arnoldi     13th September 2018 The mining industry is under constant pressure to demonstrate continued commitment to responsible environmental management and to the concept of sustainable development. There are currently several pieces of environmental legislation being updated or coming to the fore, which the industry will be... 

AMCU declares dispute with three gold mining companies 

By: Marleny Arnoldi     11th September 2018 The Association of Mineworkers and Construction Union (AMCU) on Tuesday warned gold miners Sibanye-Stillwater, Harmony Gold and Village Main Reef of an imminent strike, should they fail to meet the demands of mineworkers. Wage negotiations in the gold sector started in mid-July, and AMCU and... 

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.... 

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,... 

Barberton Mines concludes wage negotiations with unions

By: Marleny Arnoldi     7th September 2018 Gold mining group Pan African Resources’ Barberton Mines has successfully concluded a three-year wage agreement with the National Union of Mineworkers (NUM) and the United Association of South Africa (Uasa). The agreement provides for an average yearly wage increase of about 6.5% and 5.5% for... 

Resources Watch  

30th August 2018 Rapid Moab integration boosts Harmony Gold’s cash flow; Nothing comes before safe production, says Sibanye-Stillwater; and, Free gold on cards at Harmony’s Wafi-Golpu project 

Unions declare dispute over wage talks with gold firms

By: Reuters     29th August 2018 Three South African unions said on Wednesday that wage negotiations in the gold sector had hit a deadlock and they had declared a dispute, a move that is one step short of a strike. Solidarity, the Association of Mineworkers and Construction Union (AMCU) and UASA said their wage talks with... 

Gold wage negotiations to resume on Aug 29

By: Marleny Arnoldi     22nd August 2018 Gold wage negotiations continued on Wednesday between gold producers AngloGold Ashanti, Harmony Gold, Sibanye-Stillwater and Village Main Reef and the Association of Mineworkers and Construction Union, Solidarity and Uasa. The National Union of Mineworkers (NUM) did not attend, as it declared a... 

Free gold on cards at Harmony’s Wafi-Golpu project 

By: Martin Creamer     22nd August 2018 South Africa’s Harmony Gold is now in the next significant special-mining-lease milestone on the journey towards the co-development of the rich Wafi-Golpu project in Papua New Guinea (PNG), 65 km south-west of the Port of Lae, PNG’s industrial hub and second largest city. Harmony owns 50% of this... 

Rapid Moab integration boosts Harmony Gold’s cash flow 

By: Martin Creamer     21st August 2018 The rapid integration of the Moab Khotsong gold mine into the Harmony Gold group has boosted the company’s overall underground gold grade, lifted production, driven down all-in sustaining unit costs and doubled free cash flow. Harmony acquired the deep-level Moab Khotsong mine from AngloGold... 

Harmony enters 1.5m oz gold production realm

By: Martin Creamer     21st August 2018 The growth aspiration of Harmony Gold to produce at a rate of 1.5-million ounces of gold a year is within a hair’s breadth of becoming a foregone conclusion as production at Hidden Valley in Papua New Guinea and Moab Khotsong in South Africa click in optimally during the current financial year.... 

Impairments dent Harmony’s FY18 earnings

By: Schalk Burger     17th August 2018 Despite meeting its production guidance targets and increasing its underground recovered grade by 8%, gold producer Harmony Gold warned in a trading statement on Friday that it expects its full-year headline earnings per share (HEPS) to be 40% to 45% lower than in 2017. HEPS for the year ended... 

Harmony’s Hidden Valley mine reaches commercial production

By: Anine Kilian     26th July 2018 JSE-listed Harmony Gold’s Hidden Valley operation, in Papua New Guinea reached commercial levels of production in June. “The investment in the Stage 5 and 6 cutback was delivered safely, on schedule and below budget and we are confident that Hidden Valley will produce more than 180 000 oz in the... 

Solidarity, NUM rejects gold producers wage offer

By: African News Agency      19th July 2018 Solidarity has become the second workers union to reject the latest three-year wage offer tabled by South African gold producers even though it admitted that the mining companies have presented a gloomy picture of the industry. Solidarity joins the National Union of Mineworkers (NUM) which... 

South Africa gold producers offer single-digit hikes 

By: Reuters     18th July 2018 South African gold producers have offered annual wage increases of around 5% to 6% over three years to most rank and file miners and up to 4.5% for more skilled workers, according to a document seen by Reuters. Gold producers have been giving above-inflation wage hikes for years, adding to the... 

Minerals Council says gold sector is facing 'serious challenges' 

By: African News Agency      18th July 2018 The Minerals Council South Africa, formerly the Chamber of Mines, said on Wednesday that the mining industry continued to face major challenges despite the gold sector remaining a significant contributor to the South African economy and its people. This as wage negotiations between four of the... 

Gold sector wage negotiations to resume on July 18

By: Marleny Arnoldi     11th July 2018 The primary focus of proceedings during the first day of wage negotiations between unions and gold producers, on Wednesday, was for the four representative unions to present and motivate their demands for consideration by the gold producers.  

Kusasalethu employee killed in fall-of-ground incident

By: Creamer Media Reporter      10th July 2018 An employee was killed in a fall-of-ground incident at Harmony Gold's Kusasalethu mine, in Carletonville, on Tuesday morning. An investigation into the accident is under way. 

Gold wage negotiations to start on Wednesday

By: Marleny Arnoldi     10th July 2018 Wage talks between mining sector unions and gold producers are expected to start on Wednesday. In a statement released on Tuesday, the Minerals Council South Africa, representing gold miners AngloGold Ashanti, Harmony Gold, Sibanye-Stillwater and Village Main Reef, said the talks would take place... 

Harmony enacts board changes to enhance board effectiveness

By: Simone Liedtke     4th July 2018 JSE-listed gold miner Harmony Gold on Wednesday announced several changes to the composition of its board committees to enhance the effectiveness of the board. Of these changes, Mavuso Msimang will take over from Fikile de Buck as the new lead independent director of the company. 

Illegal mining worth R7bn a year – PwC

By: Martin Creamer     14th June 2018 The value of illegal mining and dealing of metals and diamonds in South Africa is estimated to be more than R7-billion a year, says PwC. In its latest edition of SA Mine, the professional services firm equates this to revenue generated from 430 000 oz of gold at the current market price. 

Sibanye blames workers not following rules as mine deaths spike

By: Bloomberg     12th June 2018 Sibanye Gold says workers failing to follow rules and procedures are largely to blame for a spike in fatal accidents at its South African operations, where 19 people have died since January. The company accounts for more than a third of the deaths in South African mines this year and faces... 

Employee killed in fall of ground at Harmony's Bambanani mine

By: Creamer Media Reporter      8th June 2018 An employee was killed in a fall-of-ground incident at Harmony Gold's Bambanani mine, in the Free State, on Friday morning. An investigation into the accident is under way. 

Harmony Gold raises R1.05bn to help settle Moab Khotsong loan

By: Marleny Arnoldi     6th June 2018 Gold miner Harmony Gold has raised R1.05-billion, or $82-million, through the placing of 55-million new ordinary shares with existing and new institutional investors at a price of R19.12 apiece.  

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance

By: Nadine James     23rd May 2018 Speaking at the official unveiling of the rebranded Minerals Council South Africa (previously the Chamber of Mines), on Wednesday, Mineral Resources Minister Gwede Mantashe noted that he and the Department of Mineral Resources (DMR) were unenthusiastic, but willing to make use of the 'use it or... 

Harmony poised to hit 1.5m oz target – CEO 

By: Martin Creamer     22nd May 2018 Gold mining company Harmony Gold is well on track to hit its target of 1.5-million ounces of gold a year. The two big steps needed to ensure this – the acquisition and recapitalisation of the Hidden Valley gold mine in Papua New Guinea (PNG), and the acquisition of the Moab Khotsong in South... 

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