R/€ = 19.90 Change: 0.25
R/$ = 18.28 Change: 0.39
Au 1650.29 $/oz Change: 19.24
Pt 737.50 $/oz Change: 1.08

Africa News

Mopani transitions copper operations to care and maintenance 

By: Martin Creamer     Updated 53 minutes ago Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. The announcement, the company said, followed a number of meetings with Zambian government ministries to provide an update of its... 

Copperbelt miners turn to Tanzania as South African lockdown hobbles ports

By: Reuters     Updated 1 hour 1 minute ago South Africa's strict coronavirus lockdown has caused miners to divert copper from the country's ports to others in Africa, with Dar es Salaam the clear winner, sources told Reuters. Authorities in South Africa initially said ports would only process essential goods during a three-week nationwide... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project

By: Simone Liedtke     Updated 1 hour 46 minutes ago ASX-listed Kogi Iron is seeing ongoing interest from potential new investors in its Agbaja cast steel project, in Nigeria, where Kogi is starting to see global capital flows to the commodity sector. Owing to the rapid escalation and global impacts of the coronavirus, or Covid-19, Kogi and KCM... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project
A location map of Kogi Iron's Nigerian cast steel project.

Covid-19 could unite mining industry around innovative funding – Moshe Capital

By: Marleny Arnoldi     Updated 1 hour 54 minutes ago Commodity prices and investment in South African mining will undoubtedly be impacted on by measures taken to curb the spread of coronavirus and the anticipated economic fallout, says advisory firm Moshe Capital founder and CEO Mametja Moshe. South African mining operations, except for essential... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia  

By: Martin Creamer     Updated 2 hours 31 minutes ago Diamond mining and marketing corporation, the De Beers Group, on Tuesday announced that it would contribute $2 500 000 across Botswana and Namibia to aid the response to the Covid-19 crisis. De Beers Group is a 50/50 joint venture partner with both Botswana and Namibia in the recovery and sorting... 

De Beers contributes $2.5m Covid-19 funding to Botswana, Namibia
De Beers Group CEO Bruce Cleaver

Gold Fields promoting widespread human welfare during lockdown 

By: Martin Creamer     Updated 3 hours ago Gold mining company Gold Fields, which has placed its South Deep gold mine in Gauteng on care and maintenance for the 21-day lockdown period, is promoting human welfare funding cross a number of fronts during the Covid-19 crisis. Firstly, South Deep, the Westonaria mine with a 70-year life, will... 

Gold Fields promoting widespread human welfare during lockdown
Photo by Creamer Media
Gold Fields executive VP Martin Preece

Zambia says Glencore declares 'force majeure' to shut copper mines, will block move

By: Reuters     Updated 3 hours ago Zambia said on Tuesday that Glencore has declared "force majeure" and will shut its copper mines in the country, adding that the government would block the move which would result in 11 000 people losing their jobs. Mines Minister Richard Musukwa said Glencore plans to put its Mopani Copper... 

Kodal warns shareholders of limited work on Bougouni this year

By: Marleny Arnoldi     Updated 4 hours ago As travel restrictions are impacting on Aim-listed Kodal Minerals’ ability to conduct or partake in necessary meetings, the company has advised that it cannot say when its financial and Ministerial review meeting will take place, nor the overall mining licence application process. The company... 

Edenville introduces business continuity programme amid Covid-19

By: Simone Liedtke     Updated 5 hours ago Aim-listed Edenville Energy has introduced a business continuity programme to protect its staff, while ensuring the continued and safe operation of the company, in response to the Covid-19 pandemic. The move has resulted in all nonessential travel being cancelled since early March, and all... 

Cora continues development at Sanankoro project

By: Marleny Arnoldi     Updated 5 hours ago Aim-listed Cora Gold CEO Bert Monro has published a letter to shareholders on its plans for the rest of the year, which will for the most part focus on taking the Sanankoro project, in Mali’s Yanfolila gold belt, into development. The company is planning further metallurgical testwork... 

BlueRock increases Q1 diamond sales, uncertain of Covid-19 impact

By: Natasha Odendaal     Updated 6 hours ago Aim-listed listed diamond producer BlueRock Diamonds’ good performance during the first quarter of 2020 has been overshadowed by the ongoing Covid-19 pandemic which has halted operations. The group, which owns and operates the Kareevlei diamond mine, in Kimberley, sold 3 267 ct during the first... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     Updated 6 hours ago Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Buffalo Coal appoints CEO, CFO

By: Simone Liedtke     Updated 7 hours ago South African coal miner Buffalo Coal has appointed Emma Oosthuizen as its CEO. Oosthuizen has been interim CEO since February 2019 following the resignation of the previous CEO. 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses

By: Martin Creamer     7th April 2020 Africa’s biggest bank by assets, Standard Bank Group, said on Tuesday that it had noted the contents of the guidance of the Prudential Authority of the South African Reserve Bank (SARB) on dividend distributions to ordinary shareholders. SARB’s Prudential Authority, headed by Kuben Naidoo, has... 

Standard Bank notes SARB’s hold-back guidance on dividends, bonuses
Sim Tshabalala

Tailings risk management still not up to standard – foundation

By: Marleny Arnoldi     7th April 2020 The mining industry is still “dragging its heels” on the step-change measures required to prevent catastrophic tailings failures, such as the Brumadinho tailings dam collapse in Brazil that killed 270 people, says Responsible Mining Foundation (RMF). In the newly released 'Responsible Mining... 

Keep calm and carry on (communicating)

By: Creamer Media Reporter      6th April 2020 During the Covid-19 crisis, it is essential for companies to keep on communicating. During the Covid-19 crisis, Creamer Media is offering companies exposure to our readership, who are decision-makers in South African industry and mining. Creamer Media has invited companies and public relations... 

Keep calm and carry on (communicating)

Covid-19 delays Wesizwe Platinum’s results

By: Martin Creamer     6th April 2020 Platinum group metals project developer Wesizwe Platinum has delayed the publication of its financial results for the year ended December 31. The Johannesburg-listed company put the reason for the delay down to South Africa’s Covid-19 lockdown, which required the Bakubung platinum mine project to... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

By: Simone Liedtke     6th April 2020 Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which in turn significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

Gem concludes flexible tender sales process

By: Tasneem Bulbulia     6th April 2020 LSE-listed Gem Diamonds’ second round of the flexible tender sales process has been concluded and raised a further $6.7-million for a selection of  large, high-quality diamonds recovered at its Letšeng mine, in Lesotho. The company achieved an average value of $1 615 /ct for the first quarter of... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need 

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

Centamin donates to Egypt’s Covid-19 response

By: Tasneem Bulbulia     6th April 2020 Midtier gold producer Centamin, operator of the Sukari gold mine, has committed ten-million Egyptian pounds, equivalent to about $635 000, to support Egypt's response efforts to combat the coronavirus pandemic. As the country's largest mining company, and significant local employer, early action... 

Mintek produces own sanitisers to assist with Covid-19 response

By: Tasneem Bulbulia     6th April 2020 As supply of sanitisers continue to run low owing to high demand, national mineral research organisation Mintek has produced more than 600 ℓ of hand and surface sanitisers to use and distribute to staff. Sanitisers were produced in Mintek's controlled laboratory environment in the Advanced... 

Healthy 2019 profits, cash generation to help Gemfields through Covid-19

By: Marleny Arnoldi     6th April 2020 JSE- and Aim-listed Gemfields delivered record group revenue and a healthy growth in operating profit in the year ended December 31, 2019; however, the fallout from Covid-19 is expected to have an adverse impact on the company’s operating and financial performance this year. “Widespread travel... 

Kore gets extended enviro compliance certificate for two Congo licences

By: Marleny Arnoldi     6th April 2020 ASX-, Aim- and JSE-listed Kore Potash has been granted 25-year certificates of environmental compliance by the Congo-Brazzaville government for the Dougou and Kola mining licences. The environmental- and social-impact assessments (ESIAs) for both licences previously required reapproval on a... 

Minister finds Covid-19 compliant mines but also laggards 

By: Martin Creamer     6th April 2020 As calls go out for mining to resume on April 17 or face serious setback, Mineral Resources and Energy Minister Gwede Mantashe has found excellent Covid-19 compliance by some coal mines that have been allowed to stay open to supply coal to Eskom – but inadequate response to directives by others.... 

Minister finds Covid-19 compliant mines but also laggards
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Eurasian Resources execs take 30% pay cut in support of Covid-19 measures

By: Marleny Arnoldi     6th April 2020 Global diversified miner Eurasian Resources Group (ERG) CEO Benedikt Sobotka and first deputy CEO Aldiyar Kaztayev have offered to take a 30% cut in their salaries for 12 months, owing to the unprecedented challenges that the world is facing as a result of Covid-19. The company is confident... 

Strandline arranges debt for Fungoni

By: Esmarie Iannucci     6th April 2020 Mineral sands developer Strandline Resources has signed a $26-million project finance facility agreement financier Nedbank CIB for its Fungoni project, in Tanzania. The facility will account for the majority of Fungoni’s $35-million capital cost, Strandline said on Monday. 

Resolute increases output in March quarter

By: Esmarie Iannucci     6th April 2020 Africa-focused gold miner Resolute Mining poured 110 763 oz of gold during the three months to March, a 5 470 oz increase on the December quarter. The ASX-listed miner on Monday reported that gold recoveries for the March quarter was up by 15% on the previous quarter, to 119 683 oz. 

Alphamin expresses concern about a dwindling tin price  

By: Marleny Arnoldi     3rd April 2020 JSE- and TSX-V-listed Alphamin Resources produced 2 119 t of contained tin in the quarter ended March 31. This was at the mid-point of its guidance range and compares with the 2 235 t of contained tin produced in the quarter ended December 31, 2019.  

Strong exploration activity in Canada serves for a bit of good news

By: Marleny Arnoldi     3rd April 2020 Amid a surge of bad news for businesses and societies globally, explosives manufacturer BME is nonetheless excited about the exploration landscape for mining in Canada. The company launched its BME Mining Canada last year, which is a joint venture with Consbec – the largest civils drill and... 

M&R outlines evolving impact of Covid-19 disruptions to its projects

By: Marleny Arnoldi     3rd April 2020 JSE-listed Murray & Roberts (M&R) has noted the evolving impact of Covid-19 on its active projects in Australasia, the Americas and sub-Saharan Africa. The Oyu Tolgoi project in Mongolia, which the company’s Oil & Gas and Underground Mining platforms run in joint venture with a third partner,... 

ARM’s iron-ore mines allowed to continue loading from stockpile

By: Marleny Arnoldi     3rd April 2020 JSE-listed diversified miner African Rainbow Minerals (ARM) advises shareholders that its joint venture subsidiary, Assmang, has been granted permission from Mineral Resources and Energy Minister Gwede Mantashe to operate its iron-ore load-out stations. The Khumani and Beeshoek mines are... 

Waterberg JV partners sign amended agreement

By: Tasneem Bulbulia     3rd April 2020 Dual-listed Platinum Group Metals (PTM) says the shareholders of Waterberg JV Resources have executed a formal amended purchase and development option agreement with Impala Platinum (Implats). In consideration for the amendment, first announced on February 27, Implats is funding 100% of a new... 

Nevada Gold Mines assisting its local communities

By: Simone Liedtke     3rd April 2020 Nevada Gold Mines (NGM), in collaboration with the state of Nevada and its stakeholders, is working to identify immediate needs and provide financial and logistical support to mitigate the impact of the Covid-19 pandemic on its local communities. NGM is a joint venture (JV) between Barrick Gold... 

Gold has a role to play in Covid-19 testing toolbox

By: Tasneem Bulbulia     3rd April 2020 Gold is being used in new Covid-19 rapid tests around the world, which identify the presence of biomarkers from the body’s immune response to Covid-19 instead of looking for the virus itself. The tests can also help detect if a person has been infected with Covid-19 even after the virus is no... 

Gold has a role to play in Covid-19 testing toolbox

Bowmans outlines tax impact of Covid-19 on mining companies

By: Tasneem Bulbulia     3rd April 2020 During the 21-day lockdown period, mining operations in South Africa will scale down significantly, and the effect on deep-level mines will probably be the most significant, says specialist legal provider Bowmans tax executive Adéle de Jager. The majority of mines have been placed into care and... 

Eskom wants Medupi Unit 3 defect repairs completed on schedule despite Covid-19 restrictions 

By: Terence Creamer     3rd April 2020 State-owned electricity utility Eskom has not shifted its April 9 deadline for returning Medupi Unit 3 to service, despite work restrictions imposed at the Lephalale site, in Limpopo, in response to the Covid-19 pandemic. The unit was shut for 75 days on January 26 to address defects that... 

Eskom wants Medupi Unit 3 defect repairs completed on schedule despite Covid-19 restrictions
Photo by Bloomberg
All work has been stopped on Kusile units 4, 5 and 6 for the duration of the lockdown

DRD consulting with govt, labour to restart Far West Rand gold recoveries 

By: Martin Creamer     3rd April 2020 Surface gold mining company DRDGold is considering re-starting operations at its Far West Gold Recoveries surface retreatment operation at Carletonville, south-west of Johannesburg, in consultation with government and organised labour. DRDGold CEO Niël Pretorius states on the company’s website... 

DRD consulting with govt, labour to restart Far West Rand gold recoveries
Photo by Creamer Media
Niël Pretorius
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