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S Africa seals mining jobs deal, proposes platinum plan

By: Reuters     Updated 8 minutes ago South Africa's mining industry, unions and the government signed a broad plan on Monday to stem a wave of job losses triggered by falling commodity prices and soaring costs. The document of the blue print seen by Reuters last week included boosting platinum by promoting the metal as a central... 

S Africa seals mining jobs deal, proposes platinum plan

Zuma outlines economic impact of power shortfall as he opens Medupi unit

By: Reuters     Updated 5 hours ago President Jacob Zuma opened South Africa's first new power plant in 20 years on Sunday with a warning that the country's perennial energy shortages were hampering economic growth. Construction on the six-unit, 4,764 MW Medupi plant near Lephalale, about 350 km north of Johannesburg, was started... 

Zuma outlines economic impact of power shortfall as he opens Medupi unit

Paladin bides time as uranium market turnaround gets under way

By: Henry Lazenby Dual-listed Paladin Energy has narrowed its 2015 after-tax net loss attributable to shareholders, saying it was optimistic about a long-awaited uranium market turnaround getting under way. For the 2015 financial year ended June 30, the Perth, Western Australia-based uranium producer reported a... 

Paladin bides time as uranium market turnaround gets under way

Zambia forecasts lower growth, larger deficit as copper earnings shrink

By: Reuters     Updated 4 hours ago Zambia expects slower economic growth and a bigger fiscal deficit this year as weak global demand for copper hits exports, documents released by the Ministry of Finance on Sunday show. Global commodity prices have dropped sharply on concerns that China's economy is slowing after years of rapid... 

Zambia forecasts lower growth, larger deficit as copper earnings shrink

Tanzania's opposition vows to review mining, gas contracts

By: Reuters     Updated 3 hours ago Tanzania's main opposition presidential candidate said he would review mining and gas contracts, and also scrap "unnecessary" tax exemptions for mining companies, if elected president of the east African nation in October. Former prime minister Edward Lowassa, 62, snubbed as the ruling party's... 

Tanzania's opposition vows to review mining, gas contracts

S&P's cuts metals price forecasts, to review miners' ratings

By: Reuters     Updated 3 hours ago Standard & Poor's (S&P's) warned on Monday it was likely to revise the credit ratings for some miners over the next week after cutting its price forecasts for aluminium, copper, zinc, nickel and gold and said it expected prices to remain volatile. The rating agency slashed its nickel forecasts... 

Higher revenues contribute to Perseus' record FY profit

By: Esmarie Swanepoel     Updated 1 hour 36 minutes ago Dual-listed gold miner Perseus Mining has reported record profits for the 2015 financial year, on the back of higher revenues and a foreign exchange gain of some A$52.4-million. Net profit after tax increased to a record A$92.2-million for the year under review, a A$124.2-million, or 288%,... 

Colluli DFS to be completed by year-end – Danakali

By: Esmarie Swanepoel     Updated 2 hours ago A definitive feasibility study on the Colluli potash project, in Eritrea, is expected by the fourth quarter of this year. Joint venture project owner Danakali noted on Monday that, while a number of enhancements to the project would be fully explored by the end of September, discussions with... 

Magnum offloads remaining share in Tantalite Valley project for R7m

By: Natalie Greve     Updated 20 minutes ago ASX-listed Magnum Mining & Exploration has moved to offload its remaining 40% interest in the Tantalite Valley project, in Namibia, to fellow miner African Tantalum for R7-million, recently signing a sale and purchase agreement that would see it sell its remaining shareholding in the project and... 

Eldorado, miners take legal action over Greek project

By: Reuters Canada's Eldorado Gold and workers at its disputed gold mine project in northern Greece filed a new legal complaint on Friday to overturn a government decision which led to its activities being halted, court officials said. Eldorado's complaint at one of Greece's top courts came after Prime... 

Australian gold production on the rise

     Updated 1 hour 35 minutes ago Australian gold production rose nearly 3 t, or 4%, to 72 t in the three months to June 30, says mining consultancy Surbiton Associates. In its latest survey of the Australian gold mining industry, Surbiton found that gold output for the financial year ended June increased by 1% to around 285 t,... 

Exploration spend still tight – ABS

By: Esmarie Swanepoel     Updated 1 hour 48 minutes ago While the latest exploration figures from the Australian Bureau of Statistics (ABS) indicated some improvements in greenfield exploration, the Association of Mining and Exploration Companies (Amec) said there was still a long way to go. The ABS revealed on Monday that, in original terms, mineral... 

Creamer Media publishes Coal 2015: A review of South Africa's coal sector

     Updated 4 hours ago Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the market, as well as various... 

Creamer Media publishes Coal 2015: A review of South Africa's coal sector

Landcare group launches legal bid against $1.5bn NSW mine

By: Esmarie Swanepoel     Updated 1 hour 13 minutes ago The $1.5-billion Watermark coal project, being developed by China’s Shenhua Group, in New South Wales, was facing legal action as a local landcare group on Monday launched a petition in the New South Wales Land and Environment Court to halt the project. The group argued that the Watermark mine... 

Landcare group launches legal bid against $1.5bn NSW mine

Doray secures funding for Deflector mine

By: Esmarie Swanepoel     Updated 1 hour 25 minutes ago ASX-listed gold miner Doray Minerals is on track to produce its first gold from the Deflector copper/gold mine, in Western Australia, by mid-2016, after securing funding for the project. Doray MD Allan Kelly said in a conference call on Monday that the financing for the recently acquired... 

Mineralogy seeks $10bn in damages from Citic

By: Esmarie Swanepoel     Updated 1 hour 28 minutes ago Australian miner Mineralogy has launched yet another court battle against Chinese government-owned Citic, this time launching a $10-billion claim for damages in the Supreme Court of Western Australia. “The simple fact is that Citic continues to export iron-ore concentrate from Western Australia... 

Aus gold sector to attract most M&A activity in H2 – EY

By: Esmarie Swanepoel     Updated 1 hour 29 minutes ago The Australian gold sector was likely to remain the hub for merger and acquisition (M&A) activity for the remainder of the year, advisory firm EY reported on Monday, as the sector continued to consolidate. EY’s latest quarterly mining deals analysis, ‘Mergers, acquisitions and capital raising in... 

New Acland gets draft enviro authority

By: Esmarie Swanepoel     Updated 1 hour 31 minutes ago Coal miner New Hope has reportedly crossed another hurdle with the development approval of its New Acland Stage 3 project expansion, after the Queensland Department of Environment and Heritage Protection released a draft environmental authority. The Queensland Resources Council (QRC) said on... 

Boggabri expansion completed

By: Esmarie Swanepoel     Updated 1 hour 33 minutes ago Federal Industry and Science Minister Ian Macfarlane has welcomed the completion of the Boggabri coal mine expansion, saying it would deliver up to A$360-million in employment and business activity to the regional economy. The expansion project, which included additional infrastructure at the... 

CIL expansion project faces enviro roadblock

By: Ajoy K Das     Updated 1 hour 34 minutes ago A special committee of India’s forests and environment ministry has rejected the environmental application for the expansion of Coal India Limited’s (CIL’s) Kasmunda coal mine, in the central Indian province of Chhattisgarh. The mine, operated by CIL subsidiary South Eastern Coalfields, had... 

Silver Lake improves performance in 2015 FY

By: Esmarie Swanepoel     Updated 1 hour 39 minutes ago Gold miner Silver Lake Resources has narrowed its net loss for the financial year ended June, despite a fall in gold sales and revenue. “Silver Lake has returned to its core assets where it has been possible to generate a superior financial return from substantially less production,” said MD Luke... 

Panoramic widens losses in 2015

By: Esmarie Swanepoel     Updated 1 hour 41 minutes ago Nickel miner Panoramic has widened its losses for the 2015 financial year, as bottom-line figures were affected by lower production and declining revenues. The company reported a net loss after tax of A$28.8-million, compared with a net loss of A$9.3-million in the 2014 financial year. 

Indian consortium submits fresh development plan for Iran gas block

By: Ajoy K Das     Updated 2 hours 58 minutes ago A consortium of Indian oil and gas exploration and production (E&P) companies, led by ONGC Videsh, has submitted a revised development plan for the Faizad-B gasfield in Iran. While details of the new development plan were not readily available, a senior ONGC Videsh official indicated that it was... 

TSX ends higher as energy, mining shares jump

By: Reuters Canada's main stock index climbed on Friday, driven by a surge in shares of energy and mining companies rebounding from the brutal sell-off earlier in the week. The benchmark index gained for a fourth straight session and ended the week nearly 3% higher. 

Cerro Grande pares Q3 loss

By: Henry Lazenby Chile-focused miner Cerro Grande Mining has slightly narrowed its third-quarter loss despite lower sales and prices being offset somewhat by lower costs. The Canadian firm reported a net loss before income taxes for the period ended June 30 of $1.42-million, compared with a loss of $1.59-million... 

Codelco plans to revise Andina expansion; profit tumbles 30%

By: Reuters Codelco, the world's No 1 copper producer, said on Friday it was reworking a plan to expand its key Andina mine in the wake of a falling copper price and protests about the project's possible impact on the environment. The up-to-$7.5-billion expansion of Andina, located in the Andes mountains... 

Buffalo Coal appoints new board members

By: Megan van Wyngaardt Dual-listed coal miner Buffalo Coal has appointed Eddie Scholtz and John Wallington to its board, effective September 1, following the resignation of John Dreyer and Michael Price. The board thanked Dreyer and Price for their valued contributions to the company over the past three years, and for... 

Atlatsa still uncertain of financial filings date

By: Natasha Odendaal JSE- and TSX-listed Atlatsa Resources remains uncertain as to when it will be able to file its interim financial results, after having missed the System for Electronic Document Analysis and Retrieval and Electronic Data Gathering, Analysis and Retrieval filings deadline two weeks ago. With... 

TAC, Sonke admitted as friends of court in silicosis case

By: Natasha Odendaal The Treatment Action Campaign (TAC) and Sonke Gender Justice have been given the green light to present evidence against gold mining companies in a potential class action suit by hundreds of thousands of miners who contracted silicosis and tuberculosis (TB) in their line of work. The South... 

Edikan mine unaffected by illegal miner clashes – Perseus

By: Megan van Wyngaardt Dual-listed gold miner Perseus Mining on Friday said its gold production had been unaffected by clashes between illegal miners and Ghanaian national security forces in the town of Ayanfuri near the company’s Edikan mine. Perseus explained that members of the Ghanaian military were last week... 

First Quantum Minerals launches $2.1bn Zambia copper mine

By: Reuters Canada's First Quantum Minerals on Friday launched production at its $2.1-billion copper Sentinel mine which has been under construction since June 2012. The mine would produce 280 000 t/y to 300 000 t/y of copper at full production from one large low-grade ore body containing 0.51% copper, First... 

First Quantum Minerals launches $2.1bn Zambia copper mine

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

By: Terence Creamer The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation bound rate of 10%. However, government insisted that... 

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

S Africa's trade Minister imposes steel tariffs with conditions

By: Reuters South Africa will introduce a new 10% customs duty on certain steel products, Trade and Industry Minister Dr Rob Davies said on Friday, aimed at protecting the local manufacturing industry from cheaper Chinese steel imports. Following complaints from ArcelorMittal and SAFAL Steel, Davies approved... 

S Africa's trade Minister imposes steel tariffs with conditions

Kenmare’s H1 losses widen

By: Natasha Odendaal London-listed Kenmare Resources reported continued widening losses for the first half of the year as reduced production and a weak market battered its performance. The company, which operates the Mozambique-based Moma titanium minerals mine, on Friday posted an operating loss of $27.2-million for... 

South Africa's platinum industry 'extremely ill' – Lonmin CEO

By: Reuters Lonmin's CE said on Thursday that 80% of South Africa's platinum production was making a loss and mines were not responding to cash injections from investors. "Many mines in the platinum sector today are extremely ill and have not responded to the one single cure of cash injections," Ben Magara... 

BHP Billiton still bullish on China

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's bullishness on China, as well as the demerged South 32's opportunity to work with Eskom on additional coal supply. 

BHP Billiton still bullish on China

Eskom awards $25m Limpopo transmission contract to Abengoa 

By: Terence Creamer Spanish technology group Abengoa has announced that it has been awarded a $25-million contract by South Africa’s State-owned electricity utility Eskom for the construction of two 400 kV transmission lines spanning 174 km. The company, which is building large-scale concentrated solar power (CSP)... 

Eskom awards $25m Limpopo transmission contract to Abengoa

AngloGold Ashanti reports fatality

By: Megan van Wyngaardt An AngloGold Ashanti employee was fatally injured following a seismic-related incident at the Mponeng mine, near Carletonville, on Thursday. Senior inspectors of the Department of Mineral Resources and Mponeng mine management conducted an on-site inspection and agreed remedial actions had been... 

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