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‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

By: Terence Creamer Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for used public infrastructure... 

Mining boom bolsters explosives, chemicals markets – research firm

By: Megan van Wyngaardt The rapid growth of Africa’s mining industry, and particularly in Central Africa, is being mirrored in the mining explosives and chemicals market, research firm Frost & Sullivan reports. Through new analysis, the firm has found that almost 65% of major and minor mining firms in the region... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) signalled on Friday that it was aiming to reopen historically fraught iron-ore pricing negotiations with Kumba Iron Ore, with CEO Paul O’Flaherty describing the current cost-plus arrangement as unsustainable in light of dramatic declines in... 

South Africa's ArcelorMittal reports wider H1 loss

By: Reuters Africa's largest steelmaker ArcelorMittal South Africa said on Friday its half-year losses widened amid lower international demand and a weak economy in its home market. Its headline loss per share rose to nearly 25 cents per share for the six months ended 30 June from 2 cents a year earlier, the... 

Clear policy guidelines will eliminate confusion between artisanal and illegal mining

By: Zandile Mavuso While artisanal and small-scale mining (ASM) plays a fundamental role in the South African economy, as it helps reduce poverty and creates jobs for rural communities, the artisanal mining aspect has been labelled as illegal. This is because of the blurred delineation of artisanal and illegal... 

BBBEE Wise

BBBEE Wise is an independent black economic-empowerment (BEE) service provider, established in 2007 and born out of the need for businesses to better understand what their BEE status is, thereby empowering them to make more informed and strategic decisions that contribute to their business... 

Clear policy guidelines will eliminate confusion between artisanal and illegal mining

By: Zandile Mavuso While the Department of Mineral Resources (DMR) states that artisanal and small-scale mining (ASM) plays a fundamental role in the South African economy, as it addresses poverty and creates jobs for rural communities, in most cases, the artisanal mining aspect of ASM has been labelled as illegal. 

Diamond mine expansions on track, within budget

By: Mia Breytenbach London-listed diamond mining group Petra Diamonds’ expansion programmes at its flagship Cullinan and Finsch diamond mines, in South Africa, remain on track and within budget, with development progressing well, states Petra Diamonds CEO Johan Dippenaar. Construction on the modern, fit-for-purpose... 

Expansions, new mines needed to boost diamond supply

By: Mia Breytenbach The impending shortage of natural diamonds, with demand forecast to exceed supply within the next decade, is encouraging the establishment of new mines and the development of additional diamond projects, suggests World Federation of Diamond Bourses (WFDB) president and diamond polisher Ernest... 

Expert highlights coal projects ‘likely to succeed’

By: Dylan Stewart The four new coal mines being developed by energy and chemical company Sasol are highly likely to succeed as a result of two fundamentals: reserves and market, says mining and project finance evaluator XMP Consulting chairperson Xavier Prevost. 

Globally aligned oil, gas code, Mintek coal sorting plan, art used to tell mining’s story

By: Martin Creamer Code published to protect oil and gas investors on the Johanesburg Stock Exchange; Mintek may site coal-sorting test plant at Vlakfontein; art used to illustrate mining history.  

IPP prepares final coal tender bid

By: Dylan Stewart South African independent power producer (IPP) KiPower is preparing to submit a bid in response to a tender from the Department of Energy (DoE) under its Coal Baseload IPP Procurement Programme to supply coal-powered electricity to State-owned power producer Eskom, says KiPower chairperson Ayanda... 

New book showcases South Africa’s mining history

By: Leandi Kolver Showcasing the South African mining industry through prominent artworks Ode to the Miner, published by Dream Africa Productions and Publishing, comments on the role that mining played in South Africa’s political, economic and cultural history. Ode to the Miner publisher Sas Kloppers tells Mining... 

PFS provides guidance for platinum project

As of February this year, development work on the Platreef project, owned by Ivanhoe Mines, focused on the Shaft No 1 sinking programme, which is expected to be covered by existing dedicated working capital. The project is situated in Limpopo and is funded by an investment of $280-million made by... 

PurePlay Instruments close to being listed in South Africa

By: Anine Vermeulen Fungible minerals commodity trading company PurePlay Holdings received a very favourable value-added tax ruling from the South African Revenue Service (SARS) this month, which opens the door for PurePlay Instruments’ to be listed in South Africa. The company addresses a number of voids in... 

TB incidence in South African mining sector highest in the world

By: Zandile Mavuso Diagnostic medical imaging solutions company IntriHEALTH believes that with every mining company in South Africa being obligated by the Mine Health and Safety Act to provide consistent medical surveillance for their employees, the company can assist mining companies by archiving employee medical... 

Venetia underground expansion on track for 2021 first production

By: Mia Breytenbach Construction of the $2-billion underground extension of diamond miner De Beers Consolidated Mines (DBCM) South Africa’s Venetia mine is 18% complete, with the company having spent more than $250-million on the project to date, DBCM CEO Phillip Barton tells Mining Weekly. “We are making good... 

Phakisa mining lab gets Cabinet nod

By: Natasha Odendaal Plans to set up the first four-week Operation Phakisa ‘mining laboratory’ to identify and resolve the challenges plaguing South Africa’s mining sector have been given the Cabinet go-ahead. The Operation Phakisa mining lab, which would get under way in October, would identify a “set of concrete... 

Lonmin: victim of price falls and management wobbles

By: Reuters Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and debatable management choices that are putting its survival at risk. Times are tough for everyone in the platinum sector. 

Resources Watch

By: Creamer Media Reporter This week: South Africa’s new JSE-backed oil and gas code is globally aligned. And, low iron-ore prices are killing jobs at Kumba. 

Inventory, liquidity headwinds dent Gem Diamonds’ H1 pricing

By: Natalie Greve High inventory levels and continued liquidity concerns, paired with global macroeconomic uncertainties, have continued to place pressure on the price of rough and polished diamond prices, denting the realised price of commercial stones recovered at Gem Diamonds’ Ghaghoo mine, in Botswana, for the... 

Weakened nickel, gold prices weigh on Mwana’s FY earnings

By: Natalie Greve Weakened gold and nickel prices paired with lower-than-planned production figures for the two metals have driven a decrease in the earnings of multicommodity miner Mwana Africa, narrowing group earnings before interest, taxes, depreciation and amortisation from $25-million in the 2014 financial... 

Sunbird gets buyout offer from S African power infrastructure firm

By: Esmarie Swanepoel South Africa-focused Sunbird Energy on Wednesday confirmed that it had received a takeover offer from South African power infrastructure company Glendal Power. The company told shareholders that a trading halt had been necessitated on July 27, after the company received an indicative nonbinding... 

SA mineral riches traced to ancient volcanoes  

By: News24Wire South Africa’s extensive bounty of valuable minerals can be traced to ancient super volcanoes, according to a researcher. “The super volcanoes of the past 2.7-billion years left us with something unique in the world – after all the drama, our part of the continent was full of diamonds and... 

Creamer Media publishes Real Economy Insight: Coal 2015 brief

This ten-page brief is a synopsis of key developments in the coal industry over the past 12 months. It provides an overview of the global and South African coal markets and the role of coal in South Africa’s economy, with a particular focus on the role of coal in the generation of electricity. 

Eskom says open to coal imports for new power stations 

By: Reuters South African power utility Eskom is open to importing coal for plants it still plans to commission, a coal conference heard on Tuesday. Willem Theron, business development manager of Eskom's southern Africa transmission group, said the state-run utility planned to install an additional 6 250 MW... 

AECI H1 earnings rise 45% on bulk property sale

By: Megan van Wyngaardt Explosives and specialty chemicals company AECI’s R400-million bulk property sale, in Somerset West, paired with a maintained market share, despite a difficult environment, pushed its headline earnings for the six months to June 30, up 45% to R632-million, compared with R436-million in the first... 

Aquarius delivers Q4 production record

By: Natasha Odendaal Despite facing significant headwinds and a quarter that ended with weak commodity prices, both of platinum producer Aquarius Platinum’s operating mines achieved record fourth-quarter production levels, as well as lower costs. The JSE-listed group’s overall attributable production from its... 

Gold producers, NUM meet; bilaterals now concluded

By: Natasha Odendaal South Africa’s gold producers on Monday met with trade union the National Union of Mineworkers as part of the ongoing gold industry wage negotiations. This followed a series of bilateral meetings last week between gold producers AngloGold Ashanti, Evander Gold Mines, Harmony Gold, Sibanye Gold... 

Solidarity calls for miners’ retirement age to be raised to 63 

By: Natalie Greve Trade union Solidarity has called for the retirement age of underground miners be raised to 63, telling the Chamber of Mines (CoM) that the move would retain skills critical to the South African mining industry, thus promoting its sustainability. According to the union, ten mining houses in South... 

Weak commodities to weigh on rand, current account and growth 

By: Terence Creamer The sharp decline in commodity prices is, on balance, negative for the outlook for the South African rand, new bank research shows, with lower oil prices being more than offset by lower mineral and metals prices. Standard Bank head of South African research Walter de Wet highlights that crude oil... 

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