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Implats working with Mint on platinum coin possibility

By: Martin Creamer Platinum mining and refining company Impala Platinum (Implats) is providing technical support to the South African Mint on the development of a platinum coin and, in a separate initiative, on the feasibility of platinum being held as a reserve asset by the South African Reserve Bank (SARB).... 

Implats working with Mint on platinum coin possibility
Photo by Duane Daws
Terence Goodlace

Optimum resumes coal supply to Hendrina after Eskom agrees to talks

By: Terence Creamer The business rescue practitioners at the Optimum coal mine, in Mpumalanga, announced on Friday that coal supply to Eskom’s Hendrina power station had resumed after an agreement was reached with the State-owned utility that negotiations would commence on the coal supply agreement. Business rescue... 

Optimum resumes coal supply to Hendrina after Eskom agrees to talks

ARM declares dividend, despite copper price blow, Lubambe trials

By: Megan van Wyngaardt Despite the unfavourable copper price faced by diversified miner African Rainbow Minerals (ARM), the company has resolved to remain profitable, declaring a dividend for the year ended June 30, albeit a drop to 350c a share from the 600c a share reported in 2014. At ARM’s annual results... 

ARM declares dividend, despite copper price blow, Lubambe trials
Photo by Duane Daws
ARM CEO Mike Schmidt

Mining jobs pact seen as too little too late

By: Reuters A plan by the South African government and mining companies to stem the wave of job losses sparked by falling metal prices and rising costs is seen as likely to do little to stem layoffs as it does not include a total freeze on job losses. The ten-point jobs pact urges firms to extend... 

Keaton, Rutendo announce R150m flip transaction

By: Natalie Greve 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... 

Goldplat capital projects yielding positive outcomes

By: Creamer Media Reporter Aim-listed gold producer Goldplat on Friday said the “significant progress” made on its capital projects had improved the production and efficiency of South Africa-based subsidiary Goldplat Recovery. The company had installed and was currently commissioning a new electric boiler, which was... 

Palladium price slump flags abundant stocks, despite market deficit

By: Reuters Palladium's price drop to five-year lows has tarnished its reputation as the beacon of the precious metals sector, underscoring easy availability of metal to the market even after years of deficit. Above-ground stocks of palladium, chiefly used in emissions-curbing autocatalysts, are known to be... 

Palladium price slump flags abundant stocks, despite market deficit

Base starts the hunt for new assets

Mineral sands miner Base Resources is hunting for acquisition opportunities as it nears the completion of a production optimisation programme at its $310-million Kwale mineral sands project, in Kenya. Speaking on the third day of the Africa Downunder conference, Base MD Tim Carstens said the... 

Kibo says Tanzania power project will be competitive

By: Megan van Wyngaardt Dual-listed Kibo Mining expects its Mbeya coal-to-power (MCPP) project, in Tanzania, to produce electricity at “well below” national electricity tariffs. “Tanzania has varied electricity tariffs; it can be anything form $0.18/kWh to $0.35/kWh, but our project will come in well below the existing... 

Kibo says Tanzania power project will be competitive
Kibo Mining CEO Louis Coetzee

Falling knife or screaming buy? Glencore ticks both boxes

By: Reuters What's Glencore worth? Getting a straight answer to this question depends as much on risk appetite as it does a shrewd analysis of the bombed-out commodities sector. There are plenty of obvious risks ahead for Glencore shareholders: the miner and commodities trader is exposed to a brutal sell-off... 

Australia to focus on investment in Africa, rather than aid

By: Esmarie Swanepoel Rather than providing economic aid to African nations, the Australian government will encourage the private sector to invest in the region, and specifically in the mining sector. Speaking on the last day of the Africa Downunder conference, Foreign Affairs Minister Julie Bishop said the Australian... 

Australia to focus on investment in Africa, rather than aid
Foreign Affairs Minister Julie Bishop

Vedanta's Zambia unit sends 133 workers on forced paid leave

By: Reuters Zambia's Konkola Copper Mines (KCM) owned by London-listed Vedanta Resources has asked 133 employees to stay away from work on full pay while the company undertakes a review of the operations, its chief executive said on Friday. Zambia's largest mining union said on Tuesday that thousands of mine... 

Diamonds, gold worth R2m bust at Beitbridge

By: News24Wire Rough diamonds and gold worth more than R2-million were confiscated at Beitbridge border post, the South African Revenue Service (Sars) said. "Vigilant customs officials discovered rough diamonds and gold hidden in a traveller’s belongings at the Beitbridge border post on Wednesday, September 2. 

Zambian kwacha hits new record low on power, copper price woes

By: Reuters Zambia's kwacha fell more than 2% and traded at a record low weaker than 10 per dollar for the first time on Friday weighed down by concerns over power supply in Africa's number two copper producer and weakening copper prices. The kwacha extended its losses to an all time low of 10.1500 per... 

Petmin expects FY earnings to increase 60%

By: Natalie Greve Following a solid operational performance at its Somkhele anthracite mine, in KwaZulu-Natal, multicommodity mining company Petmin’s headline earnings for the year ended June 30 are expected to increase by about 60% to 24c apiece, it said on Friday. Despite a flat pricing environment, the strong... 

NUM plans march to CoM offices

By: Megan van Wyngaardt The National Union of Mineworkers (NUM) on Friday said thousands of its members would march to the Chamber of Mines’ (CoM’s) offices on Saturday to hand over a memorandum of demands. The demands were aimed at forcing the CoM to meet the NUM’s wage demands in the gold and coal sectors. 

Pangolin closes oversubscribed private placement for Botswana exploration

By: Henry Lazenby Botswana-focused diamond explorer Pangolin Diamonds has closed an oversubscribed private placement for gross proceeds of $628 621, 25% over the original financing target. The company said on Thursday that the proceeds of the offering would be used for drilling, geological-geophysical and sampling... 

Deloitte calls for a rethink of megaprojects

Advisory firm Deloitte has urged the resources sector to ditch megascale individual mine, rail and port projects and to opt instead for single infrastructure systems that can be used by various major and minor industry participants within any given area. “Gone are the days when we should be... 

Free-trade pact to offer Australian miners improved access to Chinese market

By: Esmarie Swanepoel While commodity prices are in a downward slump, causing resource firms to slash costs, and, in some cases, curb output, Australia’s recent free-trade agreement (FTA) with China is expected to offer some relief. In June this year, the Australian government inked an FTA with its largest trading... 

Free-trade pact to offer Australian miners improved access to Chinese market

Qld govt cuts mining red tape

By: Esmarie Swanepoel The Queensland state government on Friday released a policy paper outlining proposals to modernise the state’s resource permits, authorities, leases and licences. State Development and Natural Resources Minister Anthony Lynham noted that the framework was the latest stage in a reform project that... 

Miners increasingly looking to renewable energy sources to drive operational savings

By: Creamer Media Reporter      Updated 2 hours 24 minutes ago Current pressures on the mining sector is driving increased interest in the cost savings and power security advantages that renewables could provide mining operations. To this end, a record number of mining leaders would meet with renewable energy and finance experts to network and share... 

CME throws down gauntlet to LME with new aluminium premium contract

By: Reuters     Updated 2 hours 35 minutes ago The CME Group has taken another step towards challenging the London Metal Exchange's dominance of base metals trading outside China with a new European aluminium premium contract due to launch later this month. The new 25 t contract will trade on the global CME Globex platform from September 21... 

Secova to take advantage of lower exploration costs in moving QC project up value curve

By: Henry Lazenby     Updated 2 hours 45 minutes ago Junior explorer Secova Metals expected to complete work on compiling historic data at the early stage Duvay project, in Quebec, within about three weeks, enabling it to build a model that would inform a planned $500 000 drilling campaign in the fall. Secova chairperson and CEO Brad Kitchen told... 

Molefe says Eskom seeking R2bn from Glencore

By: Reuters South Africa's Eskom is seeking R2-billion ($147-million) from Glencore and wants the commodity producer's local unit to resume coal supplies to its power stations immediately, the utility's acting chief executive said on Friday. Eskom wants Optimum Coal to start supplying the fossil fuel at the... 

Molefe says Eskom seeking R2bn from Glencore

ARM FY profit down 58% on lower prices

By: Reuters African Rainbow Minerals, led by CEO Mike Schmidt, posted a 58% fall in annual headline earnings on Friday reflecting lower commodity prices which forced it to shut down several manganese alloy furnaces. It said above-inflation cost increases, especially for electricity and labour, made manganese... 

ARM FY profit down 58% on lower prices
Photo by Duane Daws
ARM CEO Mike Schmidt

DRDGold considering share buy-back

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about surface gold miner DRDGold considering a buy-back of shares in support of its long-term shareholders. 

DRDGold considering share buy-back

Phoenix rejects Zijin bid

By: Esmarie Swanepoel The directors of takeover target Phoenix Gold have advised shareholders to reject an offer from Chinese major Zijin Mining after an independent expert valued the offer neither fair nor reasonable. The independent expert valued Phoenix shares at between 15.6c a share and 24.4c a share, which was... 

Court rules in favour of Alpha in enviro struggle

By: Esmarie Swanepoel The Supreme Court on Friday dismissed an appeal from an antimining group to have the environmental approval of the $10-billion Alpha coal project overturned. The proposed Alpha project, in Queensland, has a Joint Ore Reserves Committee-compliant resource of 1.8-billion tonnes with some... 

Fission Uranium achieves critical milestone through Triple R PEA

By: Henry Lazenby Takeover target Fission Uranium has completed a preliminary economic assessment (PEA) on the high-grade uranium resource identified to date on the Triple R uranium deposit, at its 100%-owned Patterson Lake South (PLS) property, in Canada's Athabasca basin region of Northern Saskatchewan. The PEA... 

Fission Uranium achieves critical milestone through Triple R PEA

IBC receives 2nd Lockheed Martin purchase order for F-35 Lightning II castings

By: Henry Lazenby Vancouver-based IBC Advanced Alloys has received a second contract to produce components for the F-35 Lightning II electro-optical targeting system (EOTS), which makes use of IBC’s new disruptive beryllium-aluminium alloy casting process, known as Beralcast. This purchase order extended... 

Alcoa invests $60m in 3D-printing R&D centre expansion

By: Henry Lazenby Specialty alloys firm Alcoa will invest $60-million to expand a research and development (R&D) centre near Pittsburgh, Pennsylvania, that would accelerate advanced three-dimensional (3D) printing materials and processes. NYSE-listed Alcoa has been transforming its business focus in recent years,... 

Wenco to install precision fleet management systems at Polyus Gold’s Russian mines

By: Creamer Media Reporter The Krasnoyarsk division of Russian miner Polyus Gold has chosen Wenco International Mining Systems to supply its high-precision machine guidance systems for shovels and drills at three mine sites in Eastern Siberia. Wenco, a subsidiary of Hitachi Construction Machinery, had been providing the... 

Amplats in discussions with Sibanye

By: Martin Creamer Both platinum mining major Anglo American Platinum (Amplats) and gold mining company Sibanye Gold confirmed in separate notices on Thursday that they were in discussions on the sale of Amplats’ Rustenburg platinum operations. However, JSE-listed Amplats cautioned that the discussions by... 

Buffalo secures rights to continue operations

By: Natasha Odendaal JSE- and TSX-listed Buffalo Coal has been granted immediate relief to allow mining operations to continue after the Department of Mineral Resources (DMR) last week withdrew its Aviemore anthracite mine’s mining right. The South Africa-focused coal miner’s 2013 Mining Right 301 (MR301), as well as... 

R&D tax incentive, pay cuts boost Tawana’s cash balance

By: Megan van Wyngaardt Dual-listed Tawana Resources has received $379 004 from the Australian Taxation Office for research and development (R&D) conducted last year. The R&D Tax Incentive provided a tax rebate to support Australian companies to undertake R&D. 

CCMA reserves consolidation decision

By: Creamer Media Reporter The Commission for Conciliation, Mediation and Arbitration (CCMA) has reserved its decision on the consolidation of the gold wage negotiation conciliation process. The Chamber of Mines (CoM), on behalf of gold producers, applied for the consolidation of referrals of disputes between the CoM and... 

China the biggest external risk to Africa’s growth outlook - Ncube

By: Terence Creamer The slowdown in China and the associated ending of the commodity super cycle is having a major influence on the immediate growth prospects for Africa, with the former African Development Bank chief economist forecasting that growth rates will come under pressure this year and next. Professor... 

China the biggest external risk to Africa’s growth outlook - Ncube
Photo by Duane Daws
Professor Mthuli Ncube

Anglo American entrepreneur interns graduate

By: Zandile Mavuso Twenty-one early-stage growth entrepreneurs graduated from the second phase of global miner Anglo American’s Entrepreneur Internship Programme (EIP) on Thursday morning. 

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