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Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell 

By: Martin Creamer     19th February 2018 The Mogalakwena platinum mine lived up to its reputation of being the most profitable platinum group metals (PGM) mine on the planet when it gushed cash and elevated a modernising, community supporting, environment protecting, growth studying and fuel-cell marketing Anglo American Platinum... 

Anglo American Platinum CEO Chris Griffith delivers 2017 results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Amplats restores dividend, productivity soars, six die

By: Martin Creamer     19th February 2018 Six employees died in a year in which Anglo American Platinum (Amplats) chalked up R2.4-billion in free cash flow generated from its operations, doubled return on capital employed to 18% and reintroduced a cash dividend for the first time in seven years. Productivity has soared by 58% since 2012... 

Amplats restores dividend, productivity soars, six die
Photo by Duane Daws
Amplats CEO Chris Griffith and FD Ian Botha

Court postponement signals ‘welcome change’ in govt, industry relations – Leon

By: Dylan Slater     19th February 2018 Law firm Herbert Smith Freehills Africa practice cochairperson and partner Peter Leon says the postponement of Monday’s scheduled High Court case over the hotly contested Mining Charter 3, signals a welcome change in relations between government and the South African mining industry.  

Eskom board called on to prove utility not trading recklessly

By: Terence Creamer     19th February 2018 The Institute for Accountability in Southern Africa has written to Eskom chairperson Jabu Mabuza requesting a detailed written explanation as to why the current board believes the State-owned utility can be rescued from its current financial distress, cautioning that Eskom may currently be... 

Eskom board called on to prove utility not trading recklessly
Accountability Now director advocate Paul Hoffman

Strikes, currency strength push Petra to H1 loss

By: Dylan Slater     19th February 2018 Strike action at some of its South African mines, currency strength and the inability to sell a parcel of diamonds from its Williamson mine, in Tanzania, negatively impacted on Petra Diamonds’ profitability in the six months ended December 31.  

Bauba launches Moeijelijk underground chrome development

By: Anine Kilian     19th February 2018 JSE-listed Bauba Platinum officially launched the underground development phase of its Moeijelijk chrome mine, in Limpopo, on Friday. Speaking to Mining Weekly Online, CEO Nick van der Hoven said the mine, which is set to create about 400 direct and indirect jobs by December, has already started... 

Bauba launches Moeijelijk underground chrome development
Photo by Duane Daws
Bauba CEO Nick van der Hoven

Implats expects to narrow H1 losses

By: Creamer Media Reporter      19th February 2018 Impala Platinum (Implats) expects to narrow its headline loss a share for the six months ended December 31 to between 17c and 26c, compared with the headline loss a share of 71c reported for the six months to December 31, 2016. Its loss a share is also expected to improve to loss of between 19c... 

Sibanye-Stillwater’s gold, platinum reserves decrease

By: Dylan Slater     19th February 2018 Precious metals producer Sibanye-Stillwater on Monday reported that its South African gold reserves had decreased by 10% year-on-year to 25.74-million ounces as at December 31, while its total platinum, palladium, rhodium and gold, or 4E, platinum group metal mineral reserves had declined by 4%... 

Glencore, Randgold form group to challenge Congo law changes

By: Bloomberg     19th February 2018 Glencore and Randgold Resources are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body. In a letter sent to Congolese President Joseph Kabila on... 

Acacia considers selling stake in Tanzania operations

By: Schalk Burger     19th February 2018 Tanzanian gold miner Acacia Mining is considering the possible sale of a stake in some or all of its Tanzanian operations. “The company is engaging with a small number of potential investors, the process remains at a very early stage and there can be no certainty that an agreement will be... 

Xtract concludes Manica hard rock collaboration agreement

By: Simone Liedtke     19th February 2018 The board of London-based diversified metals and minerals producer Xtract Resources has concluded a further collaboration agreement with Omnia Mining for the exploitation of the hard rock gold deposits at Xtract's Manica mining concession in Mozambique. This, however, excludes the hard rock gold... 

Orion reveals encouraging results from drilling at Prieska project

By: Simone Liedtke     19th February 2018 ASX- and JSE-listed Orion Minerals on Monday announced further encouraging results from drilling at the company's Prieska zinc/copper project, in the Northern Cape. Drill hole OCOD087_D2, drilled on the south-west margin of the NW Trough Target, intersected 14 m of mineralised massive sulphide... 

West Wits aims for higher gold production in South Africa

By: Simone Liedtke     19th February 2018 ASX-listed exploration and development company West Wits Mining is in the process of applying for two mining permits, which should enable the company to significantly increase gold production from its Witwatersrand Basin project (WBP) in the fourth-quarter of the calendar year. The company... 

Mines pledge to assist RAL with provincial road infrastructure delivery projects

By: Simone Liedtke     19th February 2018 Provincial road infrastructure delivery agency Roads Agency Limpopo (RAL) has identified four opportunities for potential future strategic partnerships, which are valued at an estimated R1.12-billion, based on a preliminary technical assessment. This follows the RAL's stakeholder engagement and... 

Zimbabwe, Botswana set to sign diamond deal – report

By: News24Wire      19th February 2018 Zimbabwe is reportedly set to sign a diamond processing deal with Botswana within the next three months, after President Emmerson Mnangagwa met with his counterpart, President Ian Khama, this week in Gaborone. According to the state-owned Herald newspaper, Mnangagwa was in Botswana on a state visit. 

Black Mountain to sell Uganda mine as part of strategic restructuring

By: Simone Liedtke     19th February 2018 Vermiculite miner Black Mountain Resources on Monday updated shareholders on restructure initiatives that have been agreed to by the company and its major lender Richmond Partners Masters. These initiatives, which are subject to shareholder approvals, formal documentation and regulatory sign off,... 

Colombia coal output down slightly in 2017 to 89.4Mt

By: Reuters     19th February 2018 Colombia, the world's fifth-largest exporter of coal, produced 89.4-million tonnes in 2017, down 1.2% from output the year before, the Energy and Mining Ministry said in a statement on Monday. The country produced 90.5-million tonnes in 2016. 

Colombia coal output down slightly in 2017 to 89.4Mt

Indian captive coal mines to achieve 105Mt production by 2021

By: Ajoy K Das     19th February 2018 Indian coal production from captive blocks allocated to thermal power plants has been estimated at 105-million tons a year by 2021/22, up from about 37-million tons a year at present, according to perspective planning on coal availability by the Power Ministry. To date, 29 coal blocks have been... 

Russian magnate Deripaska to quit roles at his two biggest firms

By: Reuters     19th February 2018 Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls - aluminium giant Rusal and En+ Group, two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires... 

Mining communities celebrate as High Court orders their involvement

By: African News Agency      19th February 2018 There were celebrations at the High Court in Pretoria on Monday after a ruling compelled the South African government and the Chamber of Mines -- which represents producers in the mining sector -- to involve communities living in mining areas, in the ongoing discussions over the controversial... 

 Mining communities celebrate as High Court orders their involvement

Novatek says wins auction for Alrosa's gas assets

By: Reuters     19th February 2018 Novatek, Russia's largest non-State gas producer, said on Monday it had won an auction for Alrosa's two gas assets with a bid of 30.3-billion roubles. Novatek has been actively buying upstream assets in an effort to boost sluggish natural gas output. 

Polymetal ups its stake in undeveloped silver property

By: Mariaan Webb     19th February 2018 LSE-listed Polymetal has entered into an agreement to increase its interest in an undeveloped silver deposit in Sakha, Far Eastern Russia, which the company believes has the potential to be one of the world’s top three primary silver mines in future. Polymetal has entered into a legally binding... 

Emmerson and Evolution restructure Tennant Creek JV

By: Schalk Burger     19th February 2018 Joint venture (JV) partners Emmerson and Evolution Mining have agreed to restructure the Tennant Creek JV gold project, in the Northern Territory, to better align assets with the respective companies. Emmerson MD Rob Bills said on Monday that the company would retain a significant exploration... 

Japan's steel industry urges Trump to make careful trade decision

By: Reuters     19th February 2018 Japan's steel industry said on Monday the US Commerce Department proposal to President Donald Trump to impose curbs on steel imports violate the principles of free trade, calling for Washington to make a careful and appropriate decision. The US Commerce Department recommended on Friday that Trump... 

Bluebird to inject new life into old South Korean gold veins

By: Reuters     19th February 2018 Asia-focused mine developer Bluebird Ventures, with venture partner Southern Gold, plans to reopen South Korean gold mines closed decades ago and is aiming for profits of around $100/t, Bluebird's CEO said. The mines closed in the late 1960s and 1970s when the gold price was less than $140/oz,... 

Whitehaven achieves record first-half profit

By: Schalk Burger     19th February 2018 New South Wales-based miner Whitehaven Coal has increased its sales revenue by 39% year-on-year to $1.15-billion and its net profit after tax by 63% year-on-year to $257.2-million in the six months ended December 31, 2017. Operating earnings before interest, taxes, depreciation and amortisation... 

Millennium goes underground at Nullagine, awards Bartons contract

By: Simone Liedtke     19th February 2018 Gold miner Millennium Minerals has awarded its first-ever underground mining contract at the Nullagine operation, in Western Australia, naming GBF Underground Mining Company as the contractor for the new Bartons underground mine development. The underground development will access high-grade,... 

Po Valley declares maiden reserve for Teodorico

By: Creamer Media Reporter      19th February 2018 Australia’s Po Valley Energy, which is in the process of selling its Italian operations to Aim-listed Saffron Energy, has declared a maiden 2P reserve of 36.5-billion cubic feet of gas at the Teodorico gasfield, offshore Italy. Teodorico has the largest gas in place of all of Po Valley’s... 

Mincor starts preproduction activities at WA gold project

By: Simone Liedtke     19th February 2018 The board of ASX-listed Mincor Resources has approved preproduction activities at its Widgiemooltha gold project (WGP), in Western Australia. The start of the preproduction activities will ensure that the company remains on track to be able to progress to full-scale mining operations at... 

Red 5 steps up Eastern Goldfields consolidation plans

By: Simone Liedtke     19th February 2018 ASX-listed gold mining junior Red 5 on Monday announced that it intended to make a hostile takeover offer for all the fully-paid ordinary shares in Western Australian company Bullseye Mining. Bullseye is an unlisted public company, whose gold portfolio includes the Laverton project, about 30 km... 

Red 5 steps up Eastern Goldfields consolidation plans

Australian Mines signs offtake deal with Korea's SK Innovation

By: Reuters     19th February 2018 Battery and technology metals developer Australian Mines said on Monday it signed a deal with Korea's SK Innovation to supply cobalt sulphate and nickel sulphate from its flagship Sconi project. The commodity off-take agreement, which is for an initial period of seven years, is for SK... 

Nornickel tycoons said to avoid shoot-out sale in share dispute

By: Bloomberg     19th February 2018 Billionaires Oleg Deripaska and Vladimir Potanin’s working arrangement at MMC Norilsk Nickel is starting to fray, but the tycoons aren’t planning to trigger a so-called shoot out - a forced auction where the losing bidder must sell his stake to the winner, three people familiar with situation... 

Nornickel tycoons said to avoid shoot-out sale in share dispute
Oleg Deripaska

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

Mining sector unloved as investors find it hard to trust

By: Reuters     17th February 2018 Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took... 

US seeks to boost output of 35 minerals, reduce import reliance

By: Reuters     17th February 2018 The United States should boost domestic production of 35 critical minerals including uranium, cobalt and lithium, to reduce its reliance on foreign suppliers, the Interior Department said on Friday. Aluminium and potash are also on the draft list of 35 critical materials used in basic... 

US seeks to boost output of 35 minerals, reduce import reliance

Vale notches record iron-ore output in 2017, sales slip

By: Reuters     16th February 2018 Brazilian miner Vale said on Friday that total iron-ore output reached a record of 366.5-million tonnes last year, boosted by record high production from its so-called northern system, even as iron ore sales slipped slightly from 2016. The northern system, composed of its Carajás, Serra Leste... 

Jobs summit announced as Ramaphosa delivers message of ‘hope and renewal’

By: Terence Creamer     16th February 2018 President Cyril Ramaphosa, who sought to align his nascent presidency as closely as possible with that of President Nelson Mandela in his inaugural State of the Nation (SoNa) address on Friday night, announced that a jobs summit would be convened in the coming months to allow social partners to... 

Jobs summit announced as Ramaphosa delivers message of ‘hope and renewal’
President Cyril Ramaphosa

South32 appoints chief technology officer

By: Simone Liedtke     16th February 2018 Vanessa Torres, who has over 25 years of experience in the mining and metals sector, has been appointed chief technology officer at diversified miner South32. "We see technology as a key enabler in driving safety and production improvements at our operations, and Vanessa's knowledge and... 

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