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Mining firms say Zambia's tax hike plan would ruin economy

By: Reuters     4th October 2018 Zambia's proposed mining tax increases would hobble Africa's second biggest copper industry, companies said on Thursday, a further warning to investors already concerned about the country's mounting debt. Several mines would become unprofitable if the tax plans were implemented with overall... 

Randgold's hook-up with Barrick to leave large void in London market

By: Reuters     2nd October 2018 A tie-up between Randgold Resources and Barrick Gold will leave a void in the London market for investors seeking exposure to gold via companies that produce the precious metal. Canada's Barrick Gold has agreed to buy Africa-focused Randgold for $6.5-billion to create the world's largest gold... 

Greater emphasis on safety at Konkola

By: Paige Müller     14th September 2018 Diversified miner Vedanta Resources is strengthening its focus on safe production at its subsidiary Zambia-based integrated copper producer Konkola Copper Mines (KCM) through the implementation of its Safety Stand Down campaign. Vedanta’s campaign was launched by KCM CEO Deshnee Naidoo in July to... 

Zambia’s operational investment spikes

By: Paige Müller     14th September 2018 A positive shift in Zambia’s copper and cobalt mining industries has resulted in an increase in much-needed operational investments by major mining houses, says mining, bulk materials handling and minerals processing equipment and systems supplier TAKRAF Africa. TAKRAF Africa regional sales... 

Vedanta Resources chairman to take miner private on Oct 1

By: Reuters     3rd September 2018 Vedanta Resources chairperson Anil Agarwal will take the London-listed miner private on October 1, after the holders of 26% of shares agreed to sell to his family trust Volcan Investments. Volcan now holds or has received acceptances for 92.31% of Vedanta's shares, it said. 

Zambia’s refined copper outlook positive

17th August 2018 Zambia will remain one of the fastest growing refined copper producers in the world over the coming years, owing to strong domestic smelting capacity, rising mine output and continuing government support, according to economic research company BMI Research, a member of the Fitch Group. As the... 

Vedanta's suspends operations at Zambian unit after worker killed in accident

By: Reuters     9th August 2018 Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine was stopped after one miner was killed in an underground accident to allow for investigations into the incident, the company said. In July production was halted at the same shaft, shaft 4, after a miner died in an... 

Vedanta delivers strong Q1 Ebitda

By: Simone Liedtke     6th August 2018 Diversified miner Vedanta Resources on Monday announced that it had delivered strong earnings before interest, taxes, depreciation and amortisation (Ebitda) and drove steady margins in the first quarter of the 2019 financial year. The margins, the miner highlighted, were driven by record volumes... 

India's Goa state to push federal govt to restart mining

By: Reuters     6th August 2018 India's Goa state on Friday passed a resolution asking the state's chief Minister to push the federal government to amend laws to restart mining across the state, a state lawmaker said, months after the country's top court quashed mining permits. The resolution seeks to amend laws in Goa so that... 

Agarwal given more time to make firm offer for Vedanta Resources

By: Reuters     30th July 2018 Billionaire Anil Agarwal has been given more time to make a firm offer or walk away from a deal to buy out minority shareholders in Vedanta Resources for £778-million, the London-listed miner said on Monday. Agarwal's vehicle Volcan Investments had faced a deadline of 17:00 London time to... 

Vedanta Africa base metals halts work at Zambia mine after miner killed

By: Reuters     26th July 2018 Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine underground copper shaft 4 was halted after one miner was killed in an accident to allow for investigations into the incident, the company said. The firm said in June that it plans to double finished copper... 

New milestone set at Gamsberg zinc project

By: Martin Creamer     26th July 2018 The completion of the main construction activities and commissioning of the front-end ore crushing, handling and stockpiling system for the Gamsberg zinc mine project in the Northern Cape is seen as a significant milestone. Completed for the Black Mountain Complex – part of the Vedanta Resources... 

Ground water in Vedanta's Indian smelter contains heavy metals – Minister

By: Reuters     23rd July 2018 Ground water in Vedanta Resources' south Indian copper smelter contains heavy metals exceeding limits for drinking water, India's junior Minister for Water Resources, Arjun Ram Meghwal, told lawmakers on Monday. The smelter was shut down in May under order of the Tamil Nadu state government... 

Dushnisky resigns as Barrick president to take over the reins at AngloGold

By: Marleny Arnoldi     23rd July 2018 Gold miner AngloGold Ashanti has appointed outgoing Barrick Gold president Kelvin Dushnisky as CEO and executive director, effective September 1. “Following a competitive global search, we are pleased to [appoint] someone of Dushnisky’s calibre to lead this organisation,” AngloGold chairperson... 

Vedanta starts commissioning activities at Gamsberg

By: Simone Liedtke     5th July 2018 Diversified mining company Vedanta Resources’ subsidiary Vedanta Zinc International (VZI) has started commissioning activities at its Gamsberg project, a greenfield mining project in the Northern Cape. Waste pre-stripping was completed by the end of June and ore production has started. 

First Quantum given time to solve $7.9bn Zambian tax row

By: Bloomberg     5th July 2018 Zambia agreed to give First Quantum Minerals more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9-billion tax bill, according to the Finance Minister. The Vancouver-based company is challenging the assessment from Zambia’s... 

Anil Agarwal faces shareholder resistance to $1bn Vedanta bid

By: Reuters     4th July 2018 Billionaire Anil Agarwal faces investor resistance to his $1-billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private. Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were... 

Vedanta Resources to delist from LSE following Agarwal’s planned buyout

By: Marleny Arnoldi     2nd July 2018 Billionaire shareholder Anil Agarwal on Monday announced plans to buy out minority shareholders in Vedanta Resources and to delist the diversified miner from the London Stock Exchange (LSE), sending the company’s stock up 28%.  

Chamber rebrand as Minerals Council South Africa establishes valuable ‘reboot’ opportunity for South Africa’s most important industry

By: Martin Creamer     1st June 2018 The introduction of the Minerals Council South Africa provides the struggling South African mining industry with a chance to establish an important new beginning. Proper leadership has the potential to set South Africa on an upward course under the growing realisation that if the country... 

Copper supply shock hits India as top plant ordered to close

By: Bloomberg     29th May 2018 India faces a copper supply shock after a state government ordered billionaire Anil Agarwal’s Vedanta to shut down a plant permanently following deadly protests in a move that will slash nationwide output and stoke demand for imports. The company’s shares fell. The Tamil Nadu government directed... 

Vedanta to stick to ops in Indian city despite deadly protests – co executive

By: Reuters     25th May 2018 London-listed Vedanta Resources plans to stick to operations in a southern Indian city despite protests demanding the closure of its copper smelter that killed 13 people this week, a company executive told Reuters on Friday. The company's position comes a day after the state of Tamil Nadu, where... 

Agarwal wants to build Indian commodity giant to rival majors

By: Bloomberg     25th May 2018 Billionaire industrialist Anil Agarwal plans to leave behind a legacy: an Indian resources group to rival the world’s biggest. The founder and owner of Vedanta Resources wants to keep building the company into a giant producer of the commodities that India needs to curb its reliance on imports,... 

Newly named Minerals Council South Africa welcomes board members

By: Nadine James     23rd May 2018 Minerals Council South Africa (MCSA) president Mxolisi Mgojo noted that all of the council’s previous office bearers had been re-elected at the 128th annual general meeting. During his address, Mgojo thanked Kalagadi Manganese chairperson Daphne Mashile-Nkosi, who retired from MCSA board duties... 

Vedanta working with regulators to restart Indian copper smelter

By: Reuters     23rd May 2018 British mining and energy group Vedanta Resources is working with regulators to expedite restarting its copper smelter in the southern Indian state of Tamil Nadu, it said on Wednesday, a day after protests turned violent at the plant. The company also posted a 27% rise in full-year core profit... 

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Konkola CEO to head up new antimony and gold plant in Oman

By: Creamer Media Reporter      18th May 2018 The CEO of Vedanta-controlled Konkola Copper Mines, Steven Din, will join Strategic and Precious Metals Processing (SPMP) as CEO on August 1. He will lead SPMP’s new Oman antimony and gold processing facility, which is coming into production. 

Vedanta chairperson outlines KCM long term growth plan

18th May 2018 Employees of natural resources company Vedanta Resources subsidiary copper mining and smelting company Konkola Copper Mines (KCM) should feel secure and understand that the company cares for them as it rolls out its ‘Path to Growth’ to boost copper production, states Vedanta Resources chairperson... 

Anil Agarwal

By: Martin Creamer     18th May 2018 This week Mining Weekly features Anil Agarwal, the founder and chairperson of Vedanta Resources, a company that has invested $1.7-billion in Southern Africa so far and is looking to invest another $700-million to $800-million in a zinc smelter-refinery complex in South Africa's Northern Cape.  

Vedanta appoints Deshnee Naidoo as Africa Base Metals CEO

By: Simone Liedtke     16th May 2018 Deshnee Naidoo has been appointed as CEO of Vedanta Resources’ Africa Base Metals, an entity through which its zinc and copper assets in South Africa, Zambia and Namibia will be managed. Naidoo’s appointment signals Vedanta group’s ongoing commitment to enhancing its African operations and is... 

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Vedanta's KCM disputes $18m Zambia tax bill – industry source

By: Reuters     9th May 2018 Vedanta Resources' Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18-million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday. Zambia's revenue authority concluded audits of mining companies that... 

Zambia concludes mine tax audits after slapping huge bill on First Quantum

By: Reuters     8th May 2018 Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals with a tax bill of over 76.5-billion Zambian kwacha ($8-billion), its revenue authority said on Monday. First Quantum, which owns two copper mines in Zambia, said in March that... 

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... 

AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

Vedanta chairperson upbeat on Zambia’s growth prospects

By: Simone Liedtke     12th April 2018 Vedanta Resources chairperson Anil Agarwal on Thursday shared his views on a path to growth for subsidiary Konkola Copper Mines (KCM). He expressed confidence in what he sees as the start of an “African economic resurgence driven by various metals”. 

Agarwal offers Anglo help in tapping India's 1.3bn people

By: Bloomberg     12th April 2018 Anglo American’s biggest shareholder, billionaire Anil Agarwal, has offered to help the mining giant expand into India. “That’s a big market for them,” Agarwal said in an interview in Lusaka. “I am going to help them if they need to open up that market for them to work there.” 

Vedanta’s Gamsberg mine remains on track

By: Simone Liedtke     11th April 2018 LSE-listed Vedanta Resources’ Zinc International business produced 157 000 t of zinc in the financial year ended March 31, in line with the 156 000 t produced in the prior financial year. The BMM operation, in South Africa, increased its mined zinc output by 3% year-on-year to 72 000 t, but the... 

Vedanta's application to renew copper smelter operations in India rejected

By: Reuters     10th April 2018 Vedanta Resources said on Tuesday its application to renew operations at a copper smelting plant in the South Indian town of Thootukudi was rejected. The rejection comes amid almost daily protests by the people of Thootukudi against Vedanta's plans to increase the capacity of the smelter, one of... 

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