R/€ = 15.43 Change: 0.04
R/$ = 13.24 Change: 0.03
Au 1227.90 $/oz Change: -16.21
Pt 818.50 $/oz Change: -10.77


South Africa gold producers offer single-digit hikes

By: Reuters     Updated 4 hours ago 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... 

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... 

Employee killed in incident at Harmony’s Moab Khotsong mine

By: Simone Liedtke     17th May 2018 An employee at Harmony Gold’s Moab Khotsong mine, in the North West, has succumbed to his injuries following a shaft ore pass incident on Thursday morning. An investigation into the incident is under way. 

Solidarity seeks at least 10% wage hikes in gold sector

By: Reuters     11th May 2018 South Africa trade union Solidarity has submitted wage hike demands in the gold sector of at least 10% annually over the next three years, according to a document submitted to the Chamber of Mines seen by Reuters. Solidarity only represents about 2% of the workforce in South Africa's gold mines... 

NUM seeks 37% pay hike from gold miners over two years

By: Reuters     9th May 2018 South Africa’s National Union of Mineworkers (NUM) has submitted wage hike demands in the gold sector of up to 37% over a two year period, according to a document submitted to the Chamber of Mines seen by Reuters. The demands far exceed the current inflation rate of 3.8% and suggest potentially... 

South African output rises as AngloGold delivers at lower cost

By: Martin Creamer     8th May 2018 The smaller South African footprint of gold-mining company AngloGold Ashanti, consisting of one underground mine and one tailings treatment operation on surface, delivered impressive first-quarter results with rising production and reduced rand-denominated costs. Production rocketed 29% at... 

Lawyer expects to sign gold miners' silicosis settlement Thursday

By: Reuters     2nd May 2018 A lawyer acting for nearly half a million miners who contracted fatal lung diseases silicosis and tuberculosis in mines said an out-of-court settlement was expected to be signed on Thursday with those gold companies implicated in the issue. The High Court in 2016 set the stage for protracted... 

Strong rand eroding South African gold mines’ margins 

By: Natasha Odendaal     6th April 2018 While the strengthening of South Africa’s rand against the dollar in recent months has been widely welcomed by many, it has somewhat dampened the outlook for exporters and mining firms reliant on a weakened currency to widen margins. For South Africa’s gold mining industry, the resultant decline... 

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... 

Strong rand eroding South African gold mines’ margins 

By: Natasha Odendaal     6th April 2018 While the strengthening of South Africa’s rand to the dollar in recent months has been widely welcomed by many, it has somewhat dampened the outlook for exporters and mining firms reliant on a weakened currency to widen margins. For South Africa’s gold industry, the subsequent decline in the... 

Modular buildings supplier aims to expand its African footprint

By: Melissa Zisengwe     30th March 2018 The remote locations of African mine sites represent a significant business growth opportunity for prefabricated modular buildings supplier Kwikspace, says Kwikspace sales executive Roberto Campos. 

Mantashe calls for increased vigilance on health, safety

By: Marleny Arnoldi     28th March 2018 Mineral Resources Minister Gwede Mantashe has called for increased vigilance on health and safety in the mining sector, after three fatalities were reported this week.  

South African junior to earn into Scotgold’s Portugal licence

By: Mariaan Webb     19th March 2018 South African exploration company PanEx Resources has signed an agreement to earn into the Portuguese subsidiary of Scotgold Resources, under which it will spend €6.6-million in several phases. The Portuguese subsidiary owns the Pomar exploration licence, covering 264 km2 and includes the... 

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... 

NUM says 1 722 jobs to go at Evander gold mine

By: Reuters     26th February 2018 South Africa's National Union of Mineworkers (NUM) on Sunday said that Pan African Resources would cut 1 722 jobs at its Evander Gold Mine in the country's Mpumalanga province. The NUM said the company, which has a total workforce of 1 812 people at the mine, informed the union that the job cuts... 

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... 

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,... 

Improved operational performance lifts Harmony’s H1 HEPS by up to 60%

By: Creamer Media Reporter      9th February 2018 An improved operational performance by its South African operations has likely contributed to a 40% to 60% year-on-year increase in Harmony Gold’s headline earnings per share (HEPS) for the six months ended December 31. HEPS are likely to be between 210c and 240c, compared with the 150c reported... 

Harmony appoints Max Sisulu as nonexecutive director

By: Simone Liedtke     2nd February 2018 Harmony Gold has appointed Max Sisulu as independent nonexecutive director of the company, effective January 31. Sisulu is a qualified economist and has served in several positions within the private and public sectors. He also holds numerous nonexecutive directorships in various private sector... 

Mineworkers union calls for 'infrastructure audit' at South African mines

By: African News Agency      2nd February 2018 The National Union of Mineworkers (NUM) on Friday called for an infrastructure audit to be conducted on all South African mines in a bid to prevent underground accidents. All 952 workers were rescued alive on Friday at Sibanye-Stillwater's Beatrix gold mine in Welkom, in the Free State. They had... 

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... 

South African mining seen a winner as Ramaphosa woos investors

By: Reuters     26th January 2018 South Africa's embattled mining industry could be first in line to benefit from a boost in foreign direct investment (FDI) if the new leader of the ruling party Cyril Ramaphosa implements measures seen as vital to draw in more cash, analysts said. The governing African National Congress (ANC)... 

Bambanani mine, South Africa

By: Sheila Barradas     26th January 2018 A gold mine located 10 km south-east of Welkom, in the Free State. 

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.... 

Employee dies in accident at Harmony’s Tshepong mine

By: Megan van Wyngaardt     18th January 2018 Harmony Gold on Thursday said an employee at its Tshepong mine, near Welkom, in the Free State, had been killed in a mining equipment related incident on Wednesday afternoon. An investigation into the accident was currently under way. 

Harmony on track to meet FY production guidance, betters H1 production

By: Mia Breytenbach     16th January 2018 JSE-listed Harmony Gold is on track to meet its yearly production guidance of 1.1-million ounces after producing more than 550 000 oz in the six months ended December 31, the mining major announced on Tuesday. Gold production from the group’s South African operations for the period will be 9% to... 

Miner dies at Harmony's Tshepong mine

By: Samantha Herbst     7th December 2017 Gold mining major Harmony Gold confirmed on Thursday that one of its employees was fatally injured in a fall-of-ground incident at its Tshepong mine, near Welkom, in the Free State on Tuesday afternoon. According to the miner, challenging conditions continue to impact the recovery of the deceased. 

Harmony’s advantages from Moab buy 

7th December 2017 Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the details on Harmony Gold’s investor brief, in which the company declared that the acquisition of Moab Khotsong gold mine held many advantages. 

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