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Electricity-slashing platinum game changer expected by December

By: Martin Creamer The target date is the end of this year for the decision to go ahead with the commercial implementation of a paradigm shift technology that will mine and refine platinum in an integrated on-site process and use only a tenth of the electricity normally consumed. Major detail design work has... 

Electricity-slashing platinum game changer expected by December
Photo by Duane Daws
Arne Frandsen

Wesizwe meets next Bakubung project milestone

By: Anine Vermeulen Platinum development company Wesizwe Platinum this week intersected the secondary upper group two (UG2) reef at the main shaft of its Bakubung mine, on the western limb of the Bushveld Complex, and will send the samples to South Africa’s State-owned Council for Mineral Technology (Mintek) in... 

Eskom CEO challenges suspension in court

By: Sapa Eskom questions why CEO Tshediso Matona's suspension should be lifted before the outcome of his case at the Commission for Conciliation, Mediation, and Arbitration (CCMA), the Labour Court in Johannesburg heard on Thursday. "... This is frustrating the work of the board to try and steady the... 

Eskom CEO challenges suspension in court
Photo by Duane Daws
Eskom CEO Tshediso Matona

Communication gap biggest hurdle when paying ex-miners compensation

By: Megan van Wyngaardt Efficient communication with migrant mineworkers in Southern Africa, regarding social security benefits, poses a significant challenge to the Southern Africa Trust (SAT) and the Southern Africa Miners’ Association (Sama), as former mineworkers had insufficient access to information on... 

Mineral sands miner, enviro activist in standoff over West Coast mine

By: Ilan Solomons ASX-listed mineral sands miner Mineral Commodities (MRC) has defended itself against allegations by a South African environmental activist that its West Coast-based Tormin mine is negatively impacting the environment and community surrounding the operation. In a statement to the media, West Coast... 

Mineral sands miner, enviro activist in standoff over West Coast mine
Tormin mine site

Gold mining companies make strides in housing employees

By: Natasha Odendaal South Africa’s major gold producers on Thursday said significant strides had been made to house their respective employees. Since the implementation of the Mining Charter more than a decade ago, AngloGold Ashanti, Gold Fields, Harmony Gold and Sibanye Gold had collectively spent more than... 

DRDGold to issue 45.5m new shares, fully acquire Ergo Mining

By: Natalie Greve Following the fulfilment of all suspensive conditions, DRDGold expects to issue 45.5-million new shares and acquire the remaining 26% of Ergo Mining Operations (EMO) it did not already own on April 10. This followed a 2014 announcement in which the group stated its intention to enter into a share... 

DRC’s proposed new mining code a ‘grave risk’ - CoM

By: Natasha Odendaal The Democratic Republic of Congo’s (DRC’s) revamped mining code is likely to set the mining industry’s development back by at least ten years, DRC Chamber of Mines vice-chairperson and former Mines Minister Simon Tuma-Waku said on Thursday. The “new-look” proposed legislation, which was submitted... 

Zambia's President signals aim to change mining royalties

By: Reuters Zambian President Edgar Lungu on Wednesday directed the finance and mining ministers to change royalties on mining firms by April 8, saying the copper-producer could consider temporarily reverting to the tax regime in 2014. The decision to increase royalties in January for open pit mines to 20%... 

Sierra Rutile revenue hit by price decline

By: Natasha Odendaal A significant fall in the price of rutile has offset the record rutile sales and the strong sales volumes of ilmenite and zircon and other concentrates by London-listed Sierra Rutile in the 2014 financial year. A 21.6% year-on-year fall in the average realised rutile price at $818/t reduced... 

Rio Tinto dismisses 'harebrained' Fortescue iron ore plan

By: Reuters The head of the world's second-largest iron ore miner dismissed as "harebrained" a suggestion by smaller rival Fortescue Metals Group that miners should cap output of the steelmaking raw material to boost prices. Rio Tinto Chief Executive Sam Walsh said on Thursday there would be no benefit to... 

ACCC wants Forrest to explain call for iron-ore production cap

By: Esmarie Swanepoel The Australian Competition and Consumer Commission (ACCC) has called on mining magnate Andrew Forrest to explain his calls for iron-ore producers to work together to cap production to halt the fall of the iron-ore price. “The ACCC will be looking closely at Forrest’s comments and the context in... 

Glencore to shut NSW underground coal mine

By: Esmarie Swanepoel Mining major Glencore on Thursday announced that underground mining at its West Wallsend coal mine, in New South Wales, would be completed next year. The decision to cease underground mining was consistent with the life-of-mine planning for the West Wallsend operation, the miner said. 

Report shows Australian miners’ tax burden has risen in recent years

By: Esmarie Swanepoel A new report commissioned by the Minerals Council of Australia (MCA) has revealed that mining tax ratios in the Australian mining industry were at, or above, the long-term average, despite legislative reforms. In the report, titled 'Mining Tax Ratios Revisited', author Chris Richardson, a... 

Report shows Australian miners’ tax burden has risen in recent years

India’s proposed coal linkage auction to impact new thermal capacity

By: Ajoy K Das The fate of 15 000 MW of thermal power generation capacity, scheduled for completion before the end of the year, is facing an uncertain future as major Coal India Limited (CIL) has been directed not to sign any new fuel supply agreements (FSAs). An inter-Ministerial committee, which met earlier... 

Miners suspend operations in Chile as heavy rains flood roads

By: Reuters Torrential downpours in the north of Chile, the world's biggest copper producer, have forced companies to suspend operations at several of the area's major mines, putting an estimated 1.5-million tonnes of capacity of the red metal on hold. The country, which produces a third of the world's... 

Miners suspend operations in Chile as heavy rains flood roads

Mirasol options 75% of Chile gold belt projects to Yamana

By: Henry Lazenby     Updated 7 minutes ago Latin America-focused project generator Mirasol Resources has optioned 75% of the Gorbea Belt projects, located in Chile, to Canadian miner Yamana Gold. Under the joint venture agreement, the option would be exercisable in three stages over a seven-year period that would see Yamana act as a... 

LME looking to restore bullion forward curve, eyes broad market restructuring

By: Reuters     Updated 4 hours ago The London Metal Exchange (LME) has started talking to the main bullion trading banks about reinstating end-of-day gold and silver forward curves, which could be part of a bigger structural change in the precious metals market. A forward curve, which consists of a series of prices reflecting... 

Several miners appoint new senior executives

By: Henry Lazenby     Updated 4 hours ago Thursday saw a slew of new senior executive appointments by several Canadian mining companies. West Africa-focused True Gold said it had appointed Christian Milau as its new CEO, effective from April 27. The company, which is focused on developing the stalled Karma gold project, in Burkina Faso,... 

Mines begin to reopen in Chile after heavy rains

By: Reuters     Updated 7 hours ago Chile's Codelco, the world's No 1 copper producer, said on Thursday it is gradually reopening mines in the north of the country that were closed on Wednesday due to heavy rains, but that its Salvador mine remained shuttered. Conditions at Salvador did not yet permit safe operation, and 17... 

Empire raises cash to fund growth plans

By: Esmarie Swanepoel ASX-listed Empire Oil and Gas on Thursday announced that it would raise A$15.7-million in a share placement and rights offer as part of its growth strategy. The explorer noted that the raising would comprise of a A$5.5-million share placement to sophisticated and institutional investors, priced... 

Valence waves off first graphite

By: Esmarie Swanepoel ASX-listed Valence Industries has exported its first graphite out of Port Lincoln from the Uley graphite project, in South Australia. Some 20 t of flake graphite was trucked from Port Lincoln to Valence Industries’ Port Adelaide logistics handling facility in preparation for export to customers... 

Sumatra raises funds for Tembang development

By: Esmarie Swanepoel Gold developer Sumatra Copper & Gold would raise A$5.1-million through the placement of CHESS depository interests (CDIs) to professional and sophisticated investors. Under the terms of the placement, Sumatra would issue more than 88.52-million CDIs, representing some 13% of the total CDIs on... 

Northern Iron needs more help to secure financial future

By: Esmarie Swanepoel Despite implementing a number of contract renegotiations, iron-ore miner Northern Iron on Thursday told shareholders that more work would be required to secure the company’s financial future. The company in January warned that more funding would be required if Northern Iron was to continue as a... 

Resources Watch

By: Creamer Media Reporter This week: De Beers says there are early signs of another good year for diamond jewellery in 2015. And, Horomela Investments hopes to get Northern Cape zinc, copper and lead prospecting rights by year-end. 

Resources Watch

Red Eagle secures $65m for construction of Colombian gold mine

By: Henry Lazenby TSX-V-listed project developer Red Eagle Mining has secured $65-million in financing from Orion Mine Finance to build its fully permitted San Ramon gold mine, in Colombia. The financing comprised a private placement of common shares and a $60-million credit facility. 

Iamgold trims board

By: Henry Lazenby Iamgold on Wednesday announced that three directors would be retiring and not stand for re-election at the company's annual general meeting (AGM) of shareholders scheduled for May 11. President and CEO Steve Letwin said in support of the company's focus on cost containment, the board had taken... 

Inca One declares commercial production at Chala One

By: Henry Lazenby Following an assessment of commercial production indicators, Canadian ore processing firm Inca One Gold has declared commercial production at its Chala One plant, in Peru, effective from February 1. The TSX-V-listed company on Wednesday said key parameters were met, including average production... 

Seabridge Gold reports maiden resource for KSM’s Iron Cap Lower Zone

By: Henry Lazenby British Columbia-focused explorer Seabridge Gold has completed the first resource estimate for the Iron Cap Lower Zone at its 100%-owned KSM project, in north-western British Columbia. The Iron Cap Lower Zone was, after Deep Kerr, the second core zone identified at the massive project, which was... 

Execution now critical as Goldsource aims to pour gold before year-end

By: Henry Lazenby Mine developer Goldsource Mines expects to pour its first gold before the end of the year, which would open the door to organically grow the low-cost operation in politically stable Guyana. TSX-V-listed Goldsource had started construction of its $5.9-million Eagle Mountain gold project earlier... 

Steadfast Wescoal reacts firmly to stave off negative reports

By: Martin Creamer A steadfast Wescoal on Wednesday reacted firmly to stave off negative news reports by restating that an offer made for the company had been taken off the table after conditions could not be met and simultaneously reconfirmed its oft-stated position of wanting to increase its black shareholding to... 

Steadfast Wescoal reacts firmly to stave off negative reports
Photo by Duane Daws
Wescoal chairperson Robinson Ramaite

Eskom chair not removed

By: Sapa Eskom board chairperson Zola Tsotsi has not been removed, the power utility said on Wednesday. Eskom media desk was responding to questions on a report that the four executives, suspended earlier this month, were not suspended because they initiated an audit of the parastatal's tender processes. 

Eskom chair not removed
Photo by Duane Daws
Eskom chairperson Zola Tsotsi

Plant performance at heart of reworked KPIs for power station managers 

By: Terence Creamer The key performance indicators (KPIs) for Eskom power station managers are being reworked to ensure a recovery in plant energy availability factor (EAF), which has fallen from over 85% in 2010 to below 75%. Energy thought leader at Eskom Mike Rossouw said on Wednesday that a recovery in the EAF... 

Plant performance at heart of reworked KPIs for power station managers
Photo by Duane Daws
Energy thought leader at Eskom Mike Rossouw

Eskom targeting 975 MW in savings as it restarts DSM schemes

By: Terence Creamer State-owned power utility Eskom, which halted its demand-side management (DSM) interventions last year owing to funding uncertainties, reports that some of the programmes will be restarted this year and that a savings target of 975 MW has been set. Speaking at a Fossil Fuel Foundation conference... 

Eskom targeting 975 MW in savings as it restarts DSM schemes
Andrew Etzinger

Eskom chairperson could be ousted by board

By: Reuters The board at Eskom will vote on Wednesday on whether to remove chairperson Zola Tsotsi, deepening a leadership crisis at the power utility as chronic power cuts hobble South Africa's economy. Minister of Public Enterprises Lynne Brown told parliament the power outages were costing the economy... 

Eskom chairperson could be ousted by board
Eskom chairperson Zola Tsotsi

Jubilee narrows H1 loss

By: Megan van Wyngaardt Dual-listed Jubilee Platinum has narrowed its total comprehensive loss for the six months ended December 31, to £2.3-million, compared with a loss of £8.3-million in the first half of the prior financial year. Revenue increased by 22% year-on-year to £2.8-million, while gross profit increased by... 

Jubilee narrows H1 loss
Photo by Duane Daws
Jubilee Platinum CEO Leon Coetzer

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