R/€ = 14.88 Change: 0.00
R/$ = 12.10 Change: 0.00
Au 1335.58 $/oz Change: -5.52
Pt 927.50 $/oz Change: -4.49


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... 

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... 

Battle to keep Lonmin platinum deal alive hinges on the rand

By: Bloomberg     9th March 2018 When Lonmin CEO Ben Magara announced in December that Sibanye Gold had agreed to buy the platinum miner, he was visibly relieved. He can’t relax just yet. 

Zimbabwe to consider waivers on platinum, diamonds ownership law

By: Bloomberg     8th February 2018 Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51% owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting... 

CMTI Group gears up to supply gold, platinum mines

By: Megan van Wyngaardt     9th January 2018 Mining equipment and machinery supplier CMTI Group, which started operations at its Gauteng-based factory last year, aims to raise $20-million before the close of the first quarter of this year to increase its production capacity. Initial indications and expressions of interest from potential... 

Neal Froneman

By: Martin Creamer     8th December 2017 This week Mining Weekly again features Neal Froneman, the CEO of precious-metals mining company Sibanye-Stillwater, which last month struck a deal with DRDGold to monetise its gold tailings dumps on the West Rand 

Rosond achieves one year zero harm at drilling sites

     31st October 2017 Several drilling sites operated by Rosond have successfully achieved a full year of ‘zero harm’. Rosond employs more than 1600 people who work under physically demanding and risky conditions. This safety achievement bolsters the successful implementation of Rosond’s health and safety processes by... 

Development programme to equip Welkom residents with mining skills

By: News24Wire      16th October 2017 Harmony Gold says an agreement has been reached with the Matjhabeng municipality and the Unemployment Forum to implement a special community development programme that will equip residents in certain Free State communities with mining skills. Harmony Gold spokesperson Max Manoeli said the... 

New brand to be showcased at event

     29th September 2017 Mining company Sibanye-Stillwater will be showcasing its newly launched brand as a mining industry partner sponsor at The Joburg Indaba, which will be held at the Inanda Club, in Sandton, from October 4 to 5.  

McKinsey, KPMG targeted as South Africa graft scandal widens

By: Bloomberg     15th September 2017 After helping topple one of Britain’s best known public-relations companies, South African anti-corruption groups are now targeting US consultancy McKinsey & Co. and auditing firm KPMG for doing work for businesses tied to the Gupta family and President Jacob Zuma’s son. The Guptas, originally... 

Moody’s praises South African miners’ restructuring initiatives

By: African News Agency      12th September 2017 Moody’s Investor Relations on Tuesday praised the restructuring initiatives made by South African gold and platinum group metals (PGM) miners in a bid to protect the sustainability and profitability, saying that these were benefiting their credit profiles. In a report on Tuesday, Moody’s vice... 

Service impresses, leads to ongoing work at Balama

By: Nadine James     1st September 2017 Prefabricated buildings manufacturer Kwikspace Modular Buildings expects to complete a multimillion-rand project for Mozambique mining company Twigg Exploration & Mining by the end of next month. Kwikspace CEO Shaun McCormack notes that the company first started work on Twigg’s Balama graphite... 

Unnurtured mining industry will disappear – Sibanye-Stillwater 

By: Martin Creamer     30th August 2017 An unnurtured South African mining industry will disappear, Sibanye-Stillwater CEO Neal Froneman warned on Wednesday, when he slated the regulator for allowing illegal mining activity to spiral out of control and for causing equity risk and the cost of capital to rise, placing mining companies at... 

ARM FY headline earnings to increase; company sets R330m aside for silicosis claims

By: Creamer Media Reporter      21st August 2017 Diversified miner African Rainbow Minerals (ARM) expects its headline earnings a share for the 2017 financial year to be between R16.25 and R17.02, 229% to 245% higher than the headline earnings a share of R4.94 achieved in the 2016 financial year. The JSE-listed company noted in a trading... 

Review trade agreements to put South Africa first, Mathunjwa suggests 

By: Natasha Odendaal     10th August 2017 The Association of Mineworkers and Construction Union (AMCU) wants to have South Africa’s “unfavourable” trade agreements reviewed and potentially amended as the country struggles to industrialise and beneficiate, exacerbating the current jobs “bloodbath” in the mining sector. Speaking at a media... 

NUM to march against AngloGold Ashanti’s planned retrenchments 

By: African News Agency      4th August 2017 The National Union of Mineworkers (NUM) is set to embark on a protest march to AngloGold Ashanti’s head office in downtown Johannesburg on Saturday. NUM spokesperson, Livhuwani Mammburu, said the march was against the company’s decision to issue a Section 189 process notice to retrench 8,500... 

Gold Fields expects lower H1 earnings; sets $30m aside for lung disease claims

By: Creamer Media Reporter      27th July 2017 Stronger exchange rates on converting local currency costs to dollar, an increase in amortisation and a financial provision to potentially settle silicosis claims will result in an up to 50% year-on-year decrease in JSE- and NYSE-listed Gold Fields’s earnings per share (EPS) and headline earnings... 

Sibanye says Cooke strike cost it R160m in revenue; operations to resume on Monday

By: Creamer Media Reporter      30th June 2017 Production at Sibanye’s Cooke operations, near Randfontein, will resume on July 3. This followed nearly a month-long unprotected strike by workers after they were prohibited from taking food underground. 

Method leads to increased productivity

By: Marleny Arnoldi     23rd June 2017 Mining industry drilling services provider Rosond has adopted an approach to drilling equipment maintenance which entails identifying trends to assist it in applying engineering fixes, altering maintenance periods and educating operational staff accordingly. “We follow a productive approach, with... 

Sibanye dismisses 1 514 striking workers at Cooke

By: Megan van Wyngaardt     15th June 2017 Sibanye Gold on Thursday confirmed that 1 514 workers had been dismissed at its Cooke operations, near Westonaria, for not returning to work. The workers had embarked on an illegal and unprotected strike following the company’s attempts to combat illegal mining, which was threatening Cooke’s... 

Miners tumble as South Africa escalates black ownership rules

By: Bloomberg     15th June 2017 Companies including Anglo American and Sibanye Gold dropped after South Africa increased the minimum black ownership requirement for local mines and set a 12-month deadline for compliance with the new rules. The Department of Mineral Resources will raise the requirement from the current 26% to... 

Zwane reveals final Mining Charter, despite boycott

By: News24Wire      15th June 2017 The new and final Mining Charter revealed by Mineral Resources Minister Mosebenzi Zwane on Thursday increases the level of black ownership at mining companies from 26% to 30%. In addition, mining prospecting rights need to have a minimum of 50% plus one share, while companies will be required to... 

Sibanye provides $200m financial assistance to Thor US Holdco

By: Natasha Odendaal     5th June 2017 JSE- and NYSE-listed Sibanye Gold on Monday announced that it would provide $200-million in financial assistance to indirectly wholly owned subsidiary Thor US Holdco. The gold miner’s $200-million advance will enable US platinum producer Stillwater Mining Company (SWC), which is a wholly owned... 

Miners frozen out as South Africa readies new empowerment rules 

By: Bloomberg     31st May 2017 Mining companies in South Africa have been frozen out of consultation over regulatory changes that could dilute shareholders, raise costs and impose new levies to fund community development. South Africa’s Cabinet last week approved a new draft of the country’s Mining Charter and Mineral... 

Sibanye appoints Maziya as nonexecutive director

By: Henry Lazenby     24th May 2017 JSE- and NYSE-listed Sibanye Gold has appointed Savannah Maziya as a nonexecutive director following the resignation of Christopher Chadwick with effect from Tuesday. The South African multinational miner selected Maziya for her wealth of experience in the finance, mining, infrastructure and... 

Sibanye finalises terms of $1bn rights offering

By: Anine Kilian     18th May 2017 Sibanye Gold has finalised the terms of its $1-billion rights offering. The company will offer shareholders 1.2-billion new shares at R11.28 a share – a 60% discount on the closing price of shares on May 17. 

Settlement likely by year-end as parties in silicosis case pursue out-of-court option

By: Jade Davenport     5th May 2017 Mining companies facing a class action suit from mineworkers who developed silicosis on South Africa’s gold mines are expected to reach an out-of-court settlement before the close of the year. The class action, which was lodged in May 2016, comprises, according to attorney Richard Spoor, an... 

Settlement likely by year-end as parties in silicosis case pursue out-of-court option

By: Jade Davenport     5th May 2017 Mining companies facing a class action suit from mineworkers who developed silicosis on South Africa's gold mines, are anticipated to reach an out of court settlement before the close of the year. The class action, which was lodged in May 2016, comprises, according to attorney Richard Spoor, an... 

Sibanye wins four NSA awards

By: Anine Kilian     7th April 2017 Sibanye Gold won four awards at this year’s National Skills Authority (NSA) awards. The company won three gold awards for the Best Adult Education and Training programme, the Best Skills Programme and the Best University Placement programme categories, and a bronze award for the Best Artisan... 

Digitalised mining can allow for deeper mining

By: Marleny Arnoldi     7th April 2017 The University of the Witwatersrand (Wits), in Johannesburg, will test its latest developments in digitalised mining technology in underground mining conditions in the next two months at the Sterkfontein caves, a World Heritage Site in Muldersdrift, near Krugersdorp.  

Long-term improvements forecast for uranium market

By: Robyn Wilkinson     7th April 2017 Although the international uranium market has been facing tough operating conditions, new demand growth is expected later this year on the back of investment in new nuclear reactors in Russia, China and India, says data insights solutions provider GlobalData mining research director Alok Shukla. 

Facility set to boost skills, grow industry after slump

By: Victor Moolman     10th March 2017 Valve manufacturer AVK Southern Africa’s new R200-million training academy, in Alrode, Gauteng, will train 1 500 people by the end of the year. 

US body extends review of Stillwater acquisition; Sibanye provides update on reserves

By: Megan van Wyngaardt     3rd March 2017 JSE-listed Sibanye Gold has received written notification from the Committee on Foreign Investment in the United States (CFIUS) that it wishes to undertake further investigation of the company’s proposed R30-billion acquisition of US-based platinum group metals (PGMs) producer Stillwater Mining... 

On-The-Air (03/03/2017) 

By: Martin Creamer     3rd March 2017 Platinum has been badly hit by anti-diesel sentiment in the wake of the Volkswagen car emission scandal in the United States; South Africa’s Sibanye Gold went on a charm offensive in the United States this week to woo shareholder backing its big American acquisition; and the mining industry’s... 

Mining won’t be bullied into submission – Froneman 

By: Martin Creamer     7th February 2017 South Africa’s mining industry will not be bullied and beaten into submission and all stakeholders have a role to play to improve the South African situation, Chamber of Mines (CoM) VP and Sibanye Gold CEO Neal Froneman said on Tuesday. Speaking assertively at the Investing in African Mining... 

Amplats posts revised FY trading update, expects higher earnings

By: Natasha Odendaal     6th February 2017 Platinum miner Anglo American Platinum (Amplats) on Monday said it now expects its earnings for the year ended December 31, to be considerably higher than what it initially reported in November, despite additional impairments impacting on its basic earnings. Headline earnings for the 2016... 

South Africa says biggest gold miners are risking workers’ lives

By: Bloomberg     27th January 2017 South Africa has accused Sibanye Gold and AngloGold Ashanti, the country’s two biggest gold producers, of putting workers’ lives at risk in an ongoing dispute over safety stoppages. Public comments from both companies suggest that they are refusing to comply with the country’s mining laws, the... 

Platinum price upside limited despite stronger structural demand in coming years 

By: Henry Lazenby     20th January 2017 Analysts at Bank of America Merrill Lynch (BofAML) Global Research forecast little upside for platinum despite strengthening structural demand, saying South African producers are putting more ounces on the market at a time when discipline is required. In a ‘Global Metals Weekly’ report,... 

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