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Kropz eyeing dual listing

By: Martin Creamer     4th July 2018 Emerging plant nutrient producer Kropz is eyeing a dual listing on the Johannesburg Securities Exchange in addition to seeking admission to trade on the Aim in London, where it intends raising equity capital to fund the completion of its advanced-stage phosphates project in South Africa, cut debt... 

War on coal is making the world's top mine owners a lot richer

By: Bloomberg     2nd May 2018 The world’s war on coal is making its biggest producers a lot richer, at least for now. With governments from Asia to Europe setting stricter pollution limits as the climate change debate intensifies, output of the planet’s dirtiest fuel is dropping. Some of the more significant declines are... 

South Africa mining production up 3.1% in February

By: Anine Kilian     12th April 2018 South Africa’s mining production increased by 3.1% year-on-year in February, bolstered by a strong contribution from diamonds and iron-ore, according to the latest figures published by Statistics South Africa (Stats SA) on Wednesday. The February production growth, which exceeded consensus... 

R&E reports R7m loss due to ongoing litigation

By: African News Agency      26th March 2018 South African gold miner Randgold and Exploration (R&E) on Monday reported a total comprehensive loss of R7-million for the year ended 31 December 2017, down from R7.9-million the previous year, as a result of an increase in legal fees.  R&E said that during the 2017 financial year, it received... 

Iron-ore gives South Africa’s January mining output a boost

By: Marleny Arnoldi     16th March 2018 Mining production increased by 2.4% year-on-year in January, bolstered by strong growth in iron-ore production and “other” non-metallic minerals, Statistics South Africa figures how. The January growth compares with a contraction of 0.5% in December. 

Rio Tinto's blowout cash puts dividends and deals in focus

By: Bloomberg     7th February 2018 Rio Tinto Group’s best profit in three years and a record dividend is yet another sign that miners are reaping the benefits of a surge in commodity prices. Yet the sheer size of Rio’s cash flow is starting to raise another question: how else will the world’s second-biggest mining company invest... 

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Embattled Buffalo Coal relies on seventh renegotiation with Investec

By: Samantha Herbst     24th August 2017 The survival of South Africa-focused coal miner Buffalo Coal depends on the outcome of the seventh amendment to the company’s term loan and revolving credit agreement with specialist banker and asset management firm Investec, which is currently being negotiated. Despite having implemented various... 

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debt and continue to improve safety standards, while improving overall operating capability to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking to... 

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debts and continue to improve safety standards while improving overall operating capacities to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking with... 

Shorts pile into cash-strapped Lonmin as platinum flounders

By: Bloomberg     27th June 2017 The last time there was so much short-selling on Lonmin Plc, the platinum miner was weeks away from a life-saving rights issue. At 14% of the total outstanding shares, Lonmin is the seventh-most-shorted stock on the 645-member FTSE All-Share Index, according to data compiled by Markit. That... 

Banks balk at risk of funding South Africa Mining Charter deals

By: Bloomberg     26th June 2017 South Africa’s plan to force mining companies to give the black majority a bigger stake in the nation’s mineral wealth faces a major obstacle: convincing  banks to back billions of dollars of fresh deals in an industry in decline. Mineral Resources Minister Mosebenzi Zwane said on June 15 that... 

Shanta agrees to buy Canadian junior Helio; nearly doubles Tanzania resource base

By: Megan van Wyngaardt     20th June 2017 East Africa-focused gold miner Shanta Gold on Tuesday agreed to buy TSX-V-listed explorer Helio Resources in an all-scrip deal valued at about £3.5-million. The acquisition will give Shanta control of Helio’s assets located immediately next to its flagship New Luika gold mine (NLGM), which... 

Carlyle's $700m Africa fund is eyeing two deals in Egypt

By: Bloomberg     1st June 2017 Carlyle Group, one of the world’s largest private equity firms, sees two buying opportunities in Egypt this year after a commodity rout depressed prices in the region. The Washington, DC-based investor’s $700-million Sub-Saharan Africa Fund will spend between $30-million and $100-million on each,... 

Tanzania gold mine on course to start commercial underground production in Q2

By: Mia Breytenbach     5th May 2017 East Africa-focused gold producer, developer and explorer Shanta Gold reports that underground production at its New Luika gold mine in Tanzania remains on track to reach commercial production during the second quarter of this year. The development also remains within budget. 

CoAL making progress to re-enter market as coal producer – Brown

By: Anine Kilian     28th April 2017 Triple-listed Coal of Africa Limited (CoAL) is making good progress in re-entering the market as a coal producer, CEO David Brown said in a quarterly update to shareholders on Friday. The company earlier this month announced that it would buy Pan African Resources’ Pan African Resources Coal... 

Shanta reports higher Q1 production, improved margins

By: Mia Breytenbach     21st April 2017 Aim-listed Shanta Gold’s New Luika mine, in Tanzania, produced 20 416 oz of gold in the quarter ended March 31, improving the company’s margins and keeping it on track to meet its 2017 guidance. “Shanta had a promising start to the financial year with more ounces produced, at a greater margin... 

Gerard Kisbey-Green

By: Martin Creamer     10th March 2017 This week we feature Gerard Kisbey-Green, the CEO of Goldplat, a 450-employee company that recovers gold and other metals from by-products of mining and processing operations 

Juniors to battle for project development prizes at Indaba

27th January 2017 Identifying the best junior mining companies for investors and supporting the development of new projects is at the core of the annual Investing in African Mining Indaba, says event organiser Mining Indaba MD Alex Grose. 

Partnership to attract new investors, companies

By: Robyn Wilkinson     27th January 2017 Mining Indaba director of content Harry Chapman is confident that new investors and mining companies will be attracted to the 2017 Investment Discovery Forum (IDF) owing to its partnership with banking group Investec and investment services provider RBC Capital Markets, and programming that... 

Indaba attendance expected to improve in line with investment climate

By: Nadine James     27th January 2017 The cyclical nature of mining continues to be reflected in the attendance figures of the yearly Investing in African Mining Indaba, which is expected to attract greater numbers in 2017, indicating an improvement in economic conditions and the mining investment environment, says event organiser... 

Local mining industry sees broad-based decline in November production

By: Megan van Wyngaardt     17th January 2017 Although recent updates from the International Monetary Fund and World Bank forecast a moderate recovery in global mining growth, which reached a post-crisis low in 2016, the contraction in South Africa’s mining production still deepened by 4.2% year-on-year in November, from a contraction of... 

Havilah cancels debt

By: Esmarie Swanepoel     30th November 2016 Gold miner Havilah has made the final repayment on a A$6-million loan facility, allowing the company to become debt free only seven months after the first gold pour at its Portia gold mine, in South Australia. The final repayment was also made four months before its due date. 

Shanta receives $5.25m silver streaming payment

By: Anine Kilian     17th November 2016 East Africa-focused gold producer Shanta Gold has received an advanced payment of $5.25-million as part of a silver streaming agreement (SSA) with privately held Guernsey-based investment company Silverback. The SSA was signed in May. 

Copper posts best back-to-back gain since 2013 on Trump splurge

By: Bloomberg     11th November 2016 Donald Trump has vowed to revitalise America’s ageing airports, schools and bridges, and traders are betting he’ll need copper. The metal is up 7% since Trump won the US presidency, capping the biggest two-day gain in three years.  

Investec and RBC Capital Markets Join the Mining Indaba Investment Discovery Forum

By: Creamer Media Reporter      8th November 2016 Investing in African Mining Indaba® is pleased to announce Investec and RBC Capital Markets as supporters of the 2017 Investment Discovery Forum (IDF). This partnership will attract new investors and mining companies as well as provide unique programming that centers around roundtable discussions... 

Universal sees record quarter with production increase

By: Megan van Wyngaardt     28th October 2016 Australia-listed Universal Coal’s Kangala colliery, in Witbank, delivered record production for the quarter ended September 30, achieving 1.08-million tonnes run-of-mine (RoM). During the quarter, the miner’s New Clydesdale colliery (NCC) also started production, contributing 31 200 t RoM, which... 

Universal Storage Systems

26th August 2016 From its head offices at 6 Kruger road, Strijdom Park, Johannesburg, Universal Storage Systems offers steel racking, shelving and mezzanine storage solutions to the national and international markets.  With branches in Cape Town, Durban, Port Elizabeth and Nelspruit, Universal Storage Systems’... 

Rally in mining’s super commodity strained by race to fuel Tesla

By: Bloomberg     19th August 2016 Even the mining industry’s super commodity of the future may be unable to avoid the Achilles heel of all mineral producers – a recurring habit of busting a boom with too much supply. As miners of everything from copper to iron ore wrestled with losses driven by global surpluses, prices soared for... 

Randgold hunting for next big discovery

By: Natasha Odendaal     8th February 2016 LSE- and Nasdaq-listed Randgold Resources is on the hunt for its next “big discovery” as it aims to hike its 2016 exploration budget. The Africa-focused group was making steady progress in its quest, said CEO Mark Bristow, who described exploration as the engine that drove its business and... 

Cheryl Carolus

By: Martin Creamer     5th February 2016 This week Mining Weekly features Cheryl Carolus, the nonexecutive chairperson of the JSE-listed Gold Fields, a 9 500-employee company that has a market capitalisation of R50-billion  

Buffalo Coal secures additional funding

By: Megan van Wyngaardt     26th November 2015 Specialist banking group Investec has agreed to extend an existing R30-million working capital facility for Buffalo Coal Dundee to R80-million. The additional funds would be made available in two tranches of R25-million each. 

African economies need to adjust focus as China shifts from resource-intensive growth model

By: Ilan Solomons     20th November 2015 Arguably Africa’s growth has in the past been propelled by artificially high commodity prices, driven by Chinese demand for natural resources. However, as China rebalances its economy away the resource-intensive growth model propelled by heavy infrastructure spending and manufacturing, commodity... 

Shanta CFO resigns

By: Megan van Wyngaardt     14th October 2015 Shanta Gold CFO and executive director Patrick Maseva Shayawabaya has resigned to pursue other opportunities in Zimbabwe, effective October 31. Eric Zurrin would step in as interim CFO. He holds a Bachelor of Commerce (Accounting) degree and has 12 years' experience in mining and investment... 

Gemfields delivers maiden mineral resource, ore reserve estimates for Kagem

By: Sashnee Moodley     23rd September 2015 Coloured gemstones miner Gemfields has produced the first measured mineral resource and proven ore reserve statement for its 75%-owned Kagem emerald mine, in Zambia. The company on Wednesday said a Competent Persons Report (CPR), produced by consulting firm SRK Consulting, had shown a Joint Ore... 

Gemfields raises $35.14m in Singapore emerald, amethyst auction

By: Natalie Greve     7th September 2015 Zambia-focused precious stones miner Gemfields has garnered revenues of $35.14-million from its most recent auction of predominantly rough emeralds extracted by subsidiary Kagem Mining, as well as the sale of amethyst mined by 50%-owned Kariba Minerals. Held in Singapore from August 31 to... 

Keaton, Rutendo announce R150m flip transaction

By: Natalie Greve     4th September 2015 Coal producer Keaton Energy has inked a deal that will see Rutendo Mining exchanging its 26% shareholding in subsidiary Keaton Mining for 21.83% of the issued shares in Keaton Energy, the group said on Friday. Rutendo would subscribe for 63.7-million fully paid Keaton Energy shares at R2.36 a... 

South32 shares rise on JSE debut, BHP Billiton shares fall 

By: Martin Creamer     18th May 2015 Value generation from the assets of South32 in the months ahead of its debut on the Johannesburg Stock Exchange (JSE) is indicative the upside potential of the triple-listed BHP Billiton spin-off company, which saw its shares end up well in the money at the JSE's close on Monday and those of BHP... 

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