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Africa News
Xtract appointed as contractor at Zambian copper processing project
By: Tasneem Bulbulia 15th July 2019 Xtract Resources has concluded a memorandum of agreement with KPZ International (KPZ) for Xtract to act as contractor for the Kalengwa processing project on the large-scale copper mining licence number 24401-HQ-LEL located in the central part of the Republic of Zambia. The historic Kalengwa... →
Tsodilo planning surface bulk sampling programme at BK16
By: Tasneem Bulbulia 15th July 2019 TSX-listed Tsodilo Resources has submitted a renewal application for prospecting licence 369/2014 to the Botswana Department of Mines (DoM) within the Ministry of Mineral Resources, Green Technology and Energy Security. The renewal application is for a two-year period and the area includes the... →
Fuel cell electric vehicles set to make strong entry – visiting experts 
By: Martin Creamer 15th July 2019 There is simply no doubt that fuel cell electric vehicles (FCEVs), which use platinum group metal catalysts, will make a very strong global entry in the next decade, global experts said on Monday. Speaking to Mining Weekly Online on the eve of Nedbank’s FCEV conference in Cape Town, Professor Dr... →
Additional resources extend Shanta’s New Luika mine life to 2025
By: Tasneem Bulbulia 15th July 2019 The resource at Aim-listed Shanta Gold’s New Luika gold mine (NLGM), in Tanzania, has increased, extending the mine’s life to 2025. Drilling at Bauhinia Creek (BC) Central, conducted in April and May, resulted in the conversion of 126 787 oz of inferred resources, grading 3.15 g/t, into 83 543 oz... →
Kavango acquires new licence at Ditau in Botswana
By: Tasneem Bulbulia 15th July 2019 Aim-listed Kavango Resources has acquired a new prospecting licence (PL) adjacent to its current Ditau PL, in Botswana. The new PL covers an area of 916.4 km2 to the south-west of the current PL. →
Newfield progresses underground decline development at Tongo mine
By: Marleny Arnoldi 15th July 2019 Newfield Resources has progressed with blasting to access an underground mine decline at its Tongo diamond mine, in Sierra Leone. The company has excavated 42 600 cubic metres of material, with three blasts conducted so far and two blasts remaining, to bring the boxcut to the desired elevation... →
Avesoro reduces funding shortfall with contractor appointment at Youga
By: Marleny Arnoldi 15th July 2019 TSX- and Aim-listed gold miner Avesoro Resources’ subsidiaries, Burkina Mining and Netiana Mining, have entered into an openpit mining contract with Orkun Group, for the Youga gold mine, in Burkina Faso. The appointment of the contractor will help to reduce the company’s expected capital... →
Eskom’s quickest fix is giving it cash now, swapping debt later
By: Bloomberg 15th July 2019 Ask Nedbank Group CEO Mike Brown how to save South Africa’s beleaguered State-owned power utility and his approach is simple: first give it cash and then consider a debt-to-equity swap later. Eskom Holdings is paying so much in interest on its debt – at the same time that its income is falling –... →
MC secures funding for Makhado Phase 1 construction
By: Tasneem Bulbulia 15th July 2019 The Industrial Development Corporation of South Africa’s (IDC’s) credit committee has approved a R245-million loan facility for ASX-, Aim- and JSE-listed MC Mining for the construction of Phase 1 of its Makhado hard coking coal project, in South Africa’s Limpopo province. The term loan reaffirms... →
MC CEO David Brown
PGMs eyed to elevate battery tech to new heights
By: Marleny Arnoldi 15th July 2019 JSE-listed Anglo American Platinum (Amplats) and TSX-listed Platinum Group Metals (PTM) have launched a joint venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium. Lion has subsequently entered into an agreement with... →
Amplats market development head Benny Oeyen
Lucapa on track for profits in 2019
By: Esmarie Iannucci 15th July 2019 Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up. Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three... →
Bass reports record quarter
By: Esmarie Iannucci 15th July 2019 Graphite miner Bass Metals has reported a record quarter during the three months to June from its Graphmada mine, in Mozambique. The company on Monday reported that a record 32 000 t of ore was processed during the quarter, with 1 005 t of graphite produced at a benchmark quality of more than... →
Jubilee completes Sable Zinc refinery acquisition
By: Nadine James 12th July 2019 Aim-listed metals processing company Jubilee Metals Group on Thursday confirmed the completion of its acquisition of the Sable Zinc Kabwe refinery, in Zambia. “I am delighted that we have successfully achieved all conditions precedent for the implementation of the Sable Zinc Kabwe acquisition,... →
WearCheck acquires reliability testing company, boosts services
By: Simone Liedtke 12th July 2019 Durban-based condition monitoring specialist WearCheck has bought Anglo Field Services (AFS), adding three new established divisions to the company’s reliability solutions portfolio, including nondestructive testing (NDT), technical compliance (TC) and rope condition assessment (RCA). The fourth... →
Caledonia on track to achieve full-year guidance
By: Tasneem Bulbulia 12th July 2019 Caledonia Mining’s Blanket mine, in Zimbabwe, produced 12 712 oz of gold in the second quarter ended June 30. While this was slightly below target, it was ahead of the 12 657 oz produced in the second quarter of 2018 and was also still at a level at which Caledonia was comfortable that it could... →
De Beers reports successful second translocation of elephants
By: Simone Liedtke 12th July 2019 The second translocation of elephants from diamond miner De Beers’ Venetia Limpopo Nature Reserve (VLNR), in South Africa, to Zinave National Parks, in Mozambique, has been completed. The first herds of elephants were corralled at the VLNR on June 25, before being transported by road for about 1... →
Pan African exceeds full-year production guidance
By: Simone Liedtke 12th July 2019 Africa-focused metals producer Pan African Resources has exceeded its full-year production guidance of 170 000 oz, with output up 7.5% year-on-year to 172 442 oz. This has seen Pan African emerging as a “safe, low-cost and long-life gold producer”, CEO Cobus Loots said on Friday. →
Pan African Resources CEO Cobus Loots
IEA sees oil market oversupplied in 2019 on US production
By: Reuters 12th July 2019 Surging US oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said on Friday. The forecasts appear to predict the need for producer club Opec and its allies to reduce production to balance... →
Lepidico settles Desert Lion buy
By: Esmarie Iannucci 12th July 2019 ASX-listed Lepidico has settled its plans to acquire TSXV-listed Desert Lion Energy, after shareholders in the Canadian company approved the share offer. Lepidico in May this year launched a takeover offer for Desert Lion, offering 5.4 of is own shares for every one Desert Lion share held to... →
Pan African condemns protest action affecting Barberton Mines
By: Simone Liedtke 12th July 2019 Africa-focused Pan African Resources’ Barberton Mines has lost a number of production days as a result of protest action, which the miner says is unrelated to normal industrial action. In a statement issued on Friday, Pan African said it would take the appropriate action to protect its employees... →
Rio unveils pink diamond tender
By: Esmarie Iannucci 12th July 2019 Diversified miner Rio Tinto has unveiled its latest tender from the Argyle diamond mine, in the Kimberley region of Western Australia, as the operation nears the end of its life cycle. The 64-diamond collection includes three Fancy Red diamonds and weighs a combined 56.28 ct. →
African govts’ mining policies perpetuating boom-and-bust cycle
By: Nadine James 12th July 2019 After a protracted period of consolidation, cost reduction initiatives and suspended dividends, the global mining sector is today in far better shape than it was during the years that followed the 2008/9 financial crisis and the subsequent commodities crash, notes Herbert Smith Freehills South... →
Angola setting up nondiamond minerals concessioning agency
By: Rebecca Campbell 12th July 2019 The Angolan Government is making preparations for the setting up of the country’s new National Minerals Resources Agency, the country’s State Secretary for Geology and Mines, Jânio Corrêa Victor, stated recently. The new agency will take over the role of minerals and mining rights concessionary... →
BHP is latest giant miner to plan exit from thermal coal
By: Bloomberg 11th July 2019 BHP Group is moving ahead with plans to exit thermal coal, according to people familiar with the matter, the latest move by the world’s biggest miners to retreat from the dirtiest fuel. BHP is looking at options to divest the business that includes assets in Australia and Colombia, said the... →
Investment, central bank demand to remain robust – WGC
By: Nadine James 11th July 2019 The World Gold Council (WGC) expects consumer demand to trend lower for the remainder of this year, but investment demand is likely to remain robust, while central banks continue their net purchasing trend. In its ‘Mid-Year Outlook’ report, released on Thursday, the WGC noted that financial... →
Gordhan says draft Eskom unbundling White Paper to be finalised soon
By: Terence Creamer 11th July 2019 Public Enterprises Minister Pravin Gordhan says a draft White Paper outlining government’s approach to the unbundling of State-owned power utility Eskom, as well as how its “unsustainable” debt burden will be managed, is being prepared and should be finalised within weeks. Gordhan made the... →
Public Enterprises Minister Pravin Gordhan
Rand strengthens as Eskom proposal soothes traders’ nerves
By: Bloomberg 11th July 2019 The rand rose to the strongest level since February after Eskom Holdings biggest bondholder was said to have a rescue plan for the state-owned company. The currency, which was already being buoyed by a global rally, added as much as 0.9%, bringing the dollar-rand pair close to crossing below its... →
South Africa's manufacturing, mining subdued as growth burden shifts to central bank
By: Reuters 11th July 2019 South Africa's manufacturing output grew only slightly in May while the slump in mining continued, albeit more moderately, shifting attention back onto the central bank to stimulate growth in an economy bleeding jobs. Factory output rose 1% year-on-year in May while mining production fell 1.5%... →
IRP will serve before Cabinet only in September as Nedlac process drags on
By: Terence Creamer 11th July 2019 The long-awaited update to the Integrated Resource Plan for electricity is only likely to serve before Cabinet in September, Mineral Resources and Energy Minister Gwede Mantashe reported on Thursday. The minister said that the draft IRP was still being considered by the social partners at the... →
Fuel cells presenting mining, manufacturing with compelling opportunity – Isondo
By: Martin Creamer 11th July 2019 If South Africans make use of their superior sunlight and their prime wind, they can generate a lot of carbon-free electricity at a cost potentially cheaper than when Eskom burns coal and pollutes the air. That, in itself, is in line with the world’s decarbonisation demands. But there is more.... →
Isondo Precious Metals COO Dr Sakib Khan
Africa adds risk to Barrick portfolio, but Bristow is positive – Fitch
By: Mariaan Webb 11th July 2019 The acquisition of mines in Africa through a merger with Randgold Resources early this year, has raised the overall risk of Toronto-headquartered Barrick Gold’s mining portfolio, but analysts at Fitch Solutions believe that South African geologist Mark Bristow, who has a track record of operating... →
Shrinking demand to eclipse supply issues in tin market
By: Reuters 11th July 2019 The tin market is under greater pressure from an economic slowdown and falling demand than supply issues, where lower production from countries such as Myanmar is likely to be offset by a new project in central Africa. Tin prices on the London Metal Exchange at around $18 000 a tonne are down 15%... →
Kenmare expects better grades at Moma in the third quarter
By: Marleny Arnoldi 11th July 2019 London-listed Kenmare Resources expects the heavy mineral concentrate (HMC) grades at its Moma mine, in Mozambique, to improve in the third quarter, following the planned mining of lower grades in the second quarter ended June 30. The company on Thursday said that, despite an 18% increase in... →
Absa metal ETFs list on A2X
By: Marleny Arnoldi 11th July 2019 Three of financial services giant Absa Corporate and Investment Bank’s metal exchange-traded funds (ETFs) started trading on A2X Markets on Thursday. The listings of NewGold, NewPlat and NewPalladium on the A2X are in addition to their listings on the JSE and the Namibian Stock Exchange. →
PGM investment, carbon tax and lower cost electricity make headlines
11th July 2019 This week Mining Weekly editor Martin Creamer unpacks the Mirai Creation fund, carbon tax and lower cost electricity. →
Syrah completes entitlement offer
By: Esmarie Iannucci 11th July 2019 Graphite miner Syrah Resources has completed its fully underwritten one-for-five pro rata accelerated non-renounceable entitlement offer, raising A$55.8-million. The institutional component of the entitlement offer closed on June 20 and raised some A$25.1-million, with the retail component... →
Budget does not fully account for mining sector concerns – DA
By: Tasneem Bulbulia 10th July 2019 The Democratic Alliance (DA) does not believe Mineral Resources and Energy Minister Gwede Mantashe’s budget vote for the Department of Mineral Resources, on Wednesday, took into account of the many areas of concern within the country’s mining industry. Speaking to Mining Weekly Online, DA Shadow... →
Mineral resources budget prioritises exploration, beneficiation, licensing
By: Nadine James 10th July 2019 Mineral Resources and Energy Minister Gwede Mantashe on Wednesday reiterated his belief that mining was a sunrise industry, while tabling the Department of Mineral Resources’ budget vote for 2019/20 in the National Assembly. The department has a R2-billion budget for the financial year. →
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