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Mine fatalities at lowest level ever – Ramatlhodi

By: Ilan Solomons The 84 mine fatalities recorded in 2014 were the lowest ever in South African mining history, Mineral Resources Minister Ngoako Ramatlhodi revealed during a media briefing in Tshwane on Friday. Mineworker fatalities were down 10% from the 93 deaths reported in 2013. 

Mine fatalities at lowest level ever – Ramatlhodi

Zim platinum export tax puzzles Aquarius, Implats

By: Natalie Greve A platinum export levy announced by the Zimbabwe government in 2013 remains mired in uncertainty, after the planned deferral of the tax to 2017, was not provided for in the country’s 2015 Finance Bill, gazetted on January 9. Platinum majors Impala Platinum (Implats) and Aquarius Platinum – both... 

Zim platinum export tax puzzles Aquarius, Implats

Coal of Africa shares rise on update

By: Martin Creamer The shares of triple-listed Coal of Africa Limited (CoAL) rose by more than 3% before noon on Friday following the company’s release of a quarterly update, which recorded a series of financial settlements, environmental go-aheads and project advances. CoAL also announced the issuing of... 

Coal of Africa shares rise on update
Photo by Duane Daws
David Brown

Harmony Q2 output falls 10%

By: Natasha Odendaal Gold producer Harmony Gold on Thursday evening reported that its gold output for the quarter ended December 31, would be 10% lower compared with the September 2014 quarter. While it did not provide its production figures for the quarter, it attributed the lower output to production stoppages at... 

Plans afoot to lay off thousands of mineworkers – Baleni

By: Ilan Solomons National Union of Mineworkers (NUM) general secretary Frans Baleni confirms that local gold producers Sibanye Gold, AngloGold Ashanti and Harmony Gold are undertaking retrenchments at their respective operations across South Africa. “Some of these companies have started offering miners voluntary... 

Plans afoot to lay off thousands of mineworkers – Baleni
JOBS IN JEOPARDY The gold sector is facing “a bloodbath of job losses”

Sylvania Q2 output slumps after ‘exceptional’ first quarter

By: Natalie Greve After what the company describes as an “exceptional” first quarter, production by platinum group metal producer Sylvania Platinum declined to 14 701 oz in the three months ended December 31. The company had reported a sixth consecutive quarter of continuous growth in the prior quarter, lifting... 

Merafe lifts FY, Q4 ferrochrome output

By: Natalie Greve Merafe Resources has lifted attributable ferrochrome production from the Glencore-Merafe chrome venture by 3% year-on-year to 92 000 t in the quarter ended December 31. The company said in a report on Friday that the improved output was the result of the start-up of Project Lion II, which was... 

Tschudi to produce first copper in Feb

By: Creamer Media Reporter First copper production from base metals miner Weatherly International’s Tschudi copper mine, in Namibia, is now expected in February. The Aim-listed company, which previously expected production to start in the second quarter of this year, on Friday said the project was “well ahead of its... 

Tiger reaches record production in Dec

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has reported a record production during the month of December, as its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reported its first quarter at nameplate capacity. The SX-EW plant produced its... 

Vedanta plans capex cuts, 'deep restructuring' in Zambia

By: Reuters Vedanta Resources, hit by weaker commodity prices, said it planned "hundreds of millions of dollars" in capital spending cuts and deferrals, while looking at a "deep restructuring" of its struggling Zambian copper business. Vedanta spent $1.42-billion on capital projects in year ended June 30,... 

Gold miners continue work to address occupational lung disease compensation issues

By: Creamer Media Reporter Mining companies Anglo American South Africa, AngloGold Ashanti, Gold Fields, Harmony Gold and Sibanye Gold are continuing with measures to tackle issues relating to compensation and medical care for occupational lung disease in the gold mining industry in South Africa. “Further initial... 

Junior miners urged to consolidate to enhance survival chances in current environment

By: Anine Vermeulen Junior miners continue to play an increasingly important role in the growth of mining assets through exploration on the African continent and, as emerging producers, constitute an important component of the minerals production chain. However, they face mounting challenges regarding their... 

Junior miners urged to consolidate to enhance survival chances in current environment

Fluid Burkina Faso situation still delaying progress at True Gold’s Karma

By: Henry Lazenby The continued fluidity of events in Burkina Faso has made an update on the timeline of TSX-V-listed True Gold's flagship Karma gold difficult to pin down, with the company initially expecting to pour first gold as early as October this year. While the West Africa-focused project developer noted... 

Middle Island on the hunt for new projects

By: Esmarie Swanepoel Junior explorer Middle Island Resources has started acquisition negotiations on two possible gold assets, the company reported on Friday. The company said that it was actively reviewing project acquisition opportunities in West Africa and Australia, and, to date, reviewed "hundreds" of projects... 

US Mint gold coin sales weakest for January since 2008

By: Reuters     Updated 5 hours ago US Mint American Eagle gold coin sales in January rose from December but were the lowest for that month since 2008, as a rally in prices discouraged collector buying in what is typically a period of peak demand, data showed on Friday. The US Mint sold 81 000 oz of gold bullion coins this month,... 

Brazil's Vale halves 2015 dividends as iron-ore prices fall

By: Reuters     Updated 6 hours ago Brazilian miner Vale proposed on Friday to pay dividends of $2-billion this year, less than half the $4.2-billion it distributed in 2014, amid falling prices of iron ore and other base metals. The company intends to pay $0.388095186 per outstanding common and preferred share in two equal... 

Two Alpha Coal affiliates to once more idle W Virginia coal mines

By: Henry Lazenby     Updated 6 hours ago US coal miner Alpha Natural Resources on Friday announced that two of its operating affiliates had given employees notice that certain West Virginia coal mines were being idled in response to sustained weak market conditions and increasingly stringent federal government regulations. In compliance... 

Flawed design fingered in Mt Polley tailings dam failure

By: Henry Lazenby     Updated 6 hours ago British Columbia will immediately act on seven critical recommendations of an independent panel that investigated the tailings storage facility (TSF) failure that took place early in August last year at Canadian base metals miner Imperial Metals’ Mount Polley copper/gold mine and launch a code... 

Flawed design fingered in Mt Polley tailings dam failure

Nautilus Minerals completes second of three marine mining machines

By: Henry Lazenby     Updated 7 hours ago Marine mining project developer Nautilus Minerals has completed the second of three machines it needs to mine high-grade polymetallic seafloor massive sulphide deposits at 1 600 m below the surface of the Bismarck Sea, offshore Papua New Guinea (PNG). The TSX-listed pioneer on Friday said... 

Goldcorp and Wabauskang First Nation strikes collaboration accord

By: Henry Lazenby Canadian miner Goldcorp and the Wabauskang First Nation had this week inked a collaboration agreement that paved the way for long-term economic benefits for the north-western Ontario First Nation. The new agreement, which marked Goldcorp's sixth First Nation partnership in Canada, provided a... 

TSX slips as US economic data drags

By: Reuters Canada's main stock index declined on Friday as negative sentiment following a sluggish US economic report helped offset gains in commodity prices and resource stocks. Government data showed that US economic growth slowed in the fourth quarter, following two quarters of strong growth. 

Despite low energy prices, Consol Energy expects to grow E&P output 30% in 2015/16

By: Henry Lazenby Despite oil prices having tested multi-year lows in recent months that saw many producers scrambling to cut costs in efforts to survive, US oil, gas and coal producer Consol Energy on Friday confirmed that it expected to continue expanding its exploration and production (E&P) division by 30% this... 

Despite low energy prices, Consol Energy expects to grow E&P output 30% in 2015/16

El Teniente mine fire won't hurt copper production – Codelco

By: Reuters Codelco does not expect Thursday's fire at its El Teniente mine to affect copper production, the chief executive of the Chilean state-run copper firm told Reuters on Friday. Codelco halted operations at the Colon Alto secondary crushing plant at El Teniente after a fire that lasted around two... 

Codelco to cut 2015 costs by $1bn as copper price plummets

By: Reuters World No 1 copper miner Codelco will slash costs by $1-billion in 2015 and cut direct cash costs by $0.193/lb of copper at its operations, CEO Nelson Pizarro said Friday, as the price of the base metal slumped to multi-year lows. Still, none of the Chilean state-run copper miner's large... 

Capri appoints investigators to probe KBL breach claims

By: Esmarie Swanepoel ASX-listed KBL Mining was again wading through the thicket, this time facing investigators from debt holder Capri Trading for an alleged breach of its general security agreement (GSA). Capri Trading regained a A$12.6-million KBL debt from ASX-listed Kidman Resources earlier this month, which... 

Newcrest boosts 2015 gold, copper guidance

By: Esmarie Swanepoel Australian gold major Newcrest Mining on Friday increased its production expectations for the 2015 financial year, as the ramp-up of the Cadia East operation, in New South Wales, continued faster than expected. Newcrest upped its gold production expectations from between 2.2-million and... 

Newcrest boosts 2015 gold, copper guidance

Whitehaven confident of coal’s future despite lacklustre market

By: Esmarie Swanepoel Despite the declining coal prices, ASX-listed producer Whitehaven Coal remains upbeat about the company’s prospects for the future. “While not ignoring the current weakness in coal markets, we remain confident that coal has a growing role to play in the world’s future energy requirements and... 

BC Iron back in full swing

By: Esmarie Swanepoel Iron-ore producer BC Iron returned to an annual run-rate of six-million tonnes a year during the three months to December, following a troubled September quarter, with the miner on Friday also downgrading its cost expectations for the full year. The Nullagine joint venture (JV), in Western... 

Chesser heads to exit Turkey

By: Esmarie Swanepoel ASX-listed Chesser Resources would exit Turkey by June this year, with the miner reporting on Friday that it would cease its hunt for new resource opportunities. In September, Chesser announced the sale of its Kestanelik gold project in Turkey, for $40-million to Nurol Holdings. 

Canada's Western Uranium targets Black Range

By: Esmarie Swanepoel Uranium developer Black Range Minerals has become a takeover target for Canada’s Western Uranium Corporation, which on Friday launched an A$18.5-million offer for the Australian company. Western Uranium was offering one of its own shares for every 750 Black Range shares held, with the offer... 

Pilot Gold frames Turkish exploration project as ideal for current capital markets

By: Henry Lazenby TSX-listed explorer Pilot Gold has completed a new preliminary economic assessment (PEA) for the Halilaga copper/gold porphyry project, in north-western Turkey, sketching metrics for a robust, low strip, technically simple and scalable openpit project, using conventional milling and flotation... 

Chile's Codelco halts crushing at El Teniente mine after fire

By: Reuters A fire forced Chile's state miner Codelco to halt operations at a crushing plant at its El Teniente copper mine on Thursday, the company told Reuters. 

Vale's mega-ships dock at five Chinese ports – executive

By: Reuters Brazilian miner Vale's mega-ships have been able to dock at five ports in China, the firm's head of investor relations said on Thursday, as a ban that had been in place since 2012 is relaxed. "The issue ... of the obstruction, that's overcome," investor relations chief Rogerio Nogueira, said at... 

Wesdome lifts reserves 57% at Eagle River mine, Ontario

By: Henry Lazenby TSX-listed Wesdome Gold Mines has boosted the compliant reserve bases at its Eagle River and Mishi gold mines, west of Wawa, in Ontario. At Eagle River, Wesdome lifted the National Instrument 43-101-compliant proven and probable reserves by 57% to 265 000 oz, grading on average 10.1 g/t gold. 

PotashCorp lifts dividend on outlook optimism, Q4 profit rises 75%

By: Henry Lazenby The world’s most significant fertiliser producer PotashCorp of Saskatchewan has lifted its quarterly cash dividend by about 9% on the back of a confident sector outlook as its potash expansion programme was nearing completion. The Saskatoon, Saskatchewan-based miner on Wednesday declared a cash... 

PotashCorp lifts dividend on outlook optimism, Q4 profit rises 75%

FDI flows to Africa fell in 2014, outlook weighed down by weak commodities

By: Terence Creamer Foreign direct investment (FDI) inflows to Africa fell by 3% to around $55-billion in 2014, amid an 8% fall in global inflows to an estimated $1.26-trillion, from $1.36-trillion in 2013. In its Global Investment Trends Monitor, the United Nations Conference on Trade and Development (Unctad)... 

 FDI flows to Africa fell in 2014, outlook weighed down by weak commodities

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