R/€ = 16.60 Change: 0.01
R/$ = 14.80 Change: 0.01
Au 1338.72 $/oz Change: -16.20
Pt 800.75 $/oz Change: -13.34

Africa News

ANC wants banks to be forced to fund South African coal mines  

By: Bloomberg     6th May 2019 South Africa’s banks should be forced to invest in new coal mines in the country, the ruling African National Congress’s head of economic transformation said. Nedbank Group and Standard Bank Group have said “they are not going to put money in coal any more,” Enoch Godongwana said in an interview... 

Eni to focus on saving African forests to offset CO2 emissions

By: Bloomberg     3rd May 2019 Eni's plan to offset emissions from its oil and gas operations will focus on working with African communities to prevent deforestation. The project is part of the Italian energy giant’s goal of removing the equivalent of 20-million tons a year of carbon dioxide (CO2) from the atmosphere by 2030.... 

Miners in Congo face subcontracting limits under new rules 

By: Bloomberg     3rd May 2019 Companies in the Democratic Republic of Congo will have to ensure subcontractors they hire are domestically owned under rules being implemented by the government. The requirement adds to the raft of new measures mining companies have had to contend with over the past year, after the state in... 

Miners in Congo face subcontracting limits under new rules

Drilling extends strike length at Kamoa North, says Ivanhoe

By: Tasneem Bulbulia     3rd May 2019 Ivanhoe Mines this week announced that the strike length of the shallow, thick, massive copper sulphide mineralisation at Kamoa North that was discovered earlier this year in drill hole DD1450 on the Kamoa-Kakula mining licence, in the Democratic Republic of Congo, has been significantly extended... 

Operations resume at Sibanye’s Thembelani shaft 

By: Marleny Arnoldi     3rd May 2019 JSE- and NYSE-listed Sibanye-Stillwater has resumed underground operations at its Thembelani shaft, in Rustenburg, following an incident that resulted in 1 800 workers being held underground on Tuesday. The shaft has now been certified safe for normal hoisting operations.  

Operations resume at Sibanye’s Thembelani shaft
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Amplats appoints PwC as external auditor from 2020

By: Simone Liedtke     3rd May 2019 Diversified miner Anglo American Platinum has appointed Pricewaterhouse Coopers as its external auditor from 2020. The decision follows after the miner announced in its 2018 Integrated Report that Deloitte & Touche’s services as the external auditors of Amplats would terminate by rotation in 2020. 

Indiana granted due diligence deadline extension on Mali projects

By: Marleny Arnoldi     3rd May 2019 Aim- and TSX-V-listed Altus Strategies has granted ASX-listed Indiana Resources an extension to the exclusivity period for completing due diligence on the Lakanfla and Tabakorole gold projects, in Mali, to June 14. Indiana requested the extension owing to the time required to process... 

Tando's SPD proves viable

By: Esmarie Iannucci     3rd May 2019 A scoping study into ASX-listed Tando Resources’ Phase 1 SPD vanadium project, in South Africa, has demonstrated that the project is technically and financially viable. The Phase 1 project is based on a 2.2-million tonne a year stand-alone operation, which is expected to produce an average of... 

Struggling junior miners woo investors to fund exploration projects

By: Reuters     3rd May 2019 Junior miners, struggling to fund exploration as institutions seek lower risk and better returns from larger rivals and newer industries, sought to sell potential investors on projects on Thursday, with mixed success. The proliferation of index funds, sluggish gold price growth and a shift into... 

Mining body releases autonomous systems guideline

By: Nadine James     3rd May 2019 The Global Mining Guidelines Group (GMG) published the Guideline for the Implementation of Autonomous Systems in Mining last month, in an effort to assist in the implementation of these systems, which are being used more and more frequently owing to their potential for making the mining industry... 

Mining body releases autonomous systems guideline
LEADING THE WAY Rio Tinto, one of the pioneers in implementing autonomous mining systems, including autonomous trucks, assisted in the guideline's publication

Platinum seen contributing as much to South Africa's economy as gold did in the 20th century 

By: Natasha Odendaal     3rd May 2019 With the too-high economic cost of a lost opportunity looming, immediate measures are required to assist the platinum group metals mining sector to improve its viability and preserve employment. This is the intent behind the industry’s new South African National Platinum Strategy, with its most... 

Platinum seen contributing as much to South Africa's economy as gold did in the 20th century

Kumba maintains 2019 guidance, despite first-quarter production dip

By: Rebecca Campbell     3rd May 2019 With the release of its “Production and Sales Report” for the first quarter of this year (Q1 2019), Kumba Iron Ore Limited, part of the Anglo American plc group, has reaffirmed its guidance for total 2019 production and sales, issued in February (when it announced its annual results for 2018).... 

Kangra Coal symbolically hands over community, employee shares

By: Nadine James     2nd May 2019 Menar CEO Vuslat Bayoglu on Thursday symbolically handed over 5% free carried shares to host communities and employees of Kangra Coal, at a ceremony which included the unveiling of the coal company's new logo and the handing over of a memorandum from the National Union of Mineworkers. The event... 

Kangra Coal symbolically hands over community, employee shares

Hummingbird, Liberia govt sign MDA for Dugbe project

By: Creamer Media Reporter      2nd May 2019 Aim-listed Hummingbird Resources and the Liberian government have signed a 25-year mineral development agreement (MDA) that paves the way for the development of Hummingbird's 4.2-million-ounce Dugbe gold project. The MDA has also been ratified by the Liberian Legislature, approved into law by the... 

Alphamin's Bisie nears final commissioning

By: Creamer Media Reporter      2nd May 2019 Hot commissioning has started at TSX-V-listed Alphamin Resources' Bisie tin project, in the Democratic Republic of the Congo.   Construction of the mine was completed in the first quarter of this year and wet commissioning was completed in the week of April 22. Hot commissioning involves feeding... 

Harmony expects full-year AISC to rise as Eskom tariffs increase

By: Tasneem Bulbulia     2nd May 2019 Aim-listed Harmony Gold is on track to deliver on its full-year production guidance, the company said in an operational update for the nine months ended March 31 published on Thursday. During the nine-month period, gold production increased by 29% year-on-year to 1.08-million ounces, with... 

Bushveld grows its vanadium business

By: Tasneem Bulbulia     2nd May 2019 Aim-listed Bushveld Minerals has entered into a business and share purchase agreement with Vanchem Vanadium Products (VVP) and South African Japan Vanadium (SAJV) to conditionally acquire VVP’s vanadium production business and SAJV’s ferrovanadium production business in South Africa. The company... 

Sibanye says platinum mine shaft shut until official inspection

By: Bloomberg     2nd May 2019 Sibanye-Stillwater was ordered to shut down the shaft at its Rustenburg platinum mine where 1 800 workers were trapped for as long as ten hours on Tuesday after an accident with an underground transport system. South Africa’s Department of Mineral Resources issued a so-called Section 54 notice,... 

First-quarter gold demand lifted by central banks, ETFs 

By: Simone Liedtke     2nd May 2019 Continued growth in central bank buying and growth in gold-backed exchange-traded funds contributed to a 7% year-on-year increase in global gold demand to 1 053.3 t for the first quarter of this year, the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report shows. Gold demand... 

First-quarter gold demand lifted by central banks, ETFs

Mine versus lab: how green is your diamond?

By: Reuters     2nd May 2019 Mined diamonds are less carbon-intensive than man-made, but their producers should use more green energy, according to a study commissioned by the natural diamond industry, highlighting tensions between the mined and lab-grown sectors. The US Federal Trade Commission, which investigates... 

International Kagem emerald promotion boosts Zambia’s revenue – Gemfields

By: African News Agency      2nd May 2019 Emeralds from Zambia’s Kagem mine have captured the eye of some of the foremost gemstone buyers and jewellers around the world, helping boost revenue for the southern African country, parent company Gemfields has said. “We are excited because appreciation of Zambian emeralds is gaining momentum... 

Cape Lambert resumes trading as DRC issues are solved

By: Esmarie Iannucci     2nd May 2019 Resources investment firm Cape Lambert has resumed trading on the ASX after issues around its Kipushi cobalt/copper tailings project, in the Democratic Republic of Congo, was cleared. Cape Lambert holds a 50% interest in the Kipushi tailings project, along with local entity Paragon Mining,... 

FAR raises A$45m for Senegal exploration

By: Esmarie Iannucci     2nd May 2019 Africa-focused oil and gas explorer FAR will raise A$45-million through a share placement to sophisticated and institutional investors, to fund its ongoing interest in the SNE field development, offshore Senegal. The company would be placing more than 818.8-million shares, at a price of 5.5c... 

As Canada's Lucara Diamond seeks new mines, tech fuels growth

By: Reuters     2nd May 2019 Lucara Diamond Corp, which has recovered two of the largest diamonds in recent history, is turning to technology to ensure growth in an industry where new mine acquisitions remain elusive. For the Vancouver-based junior miner, that means using advanced technology like sorting based on atomic... 

Gold Fields invests in Peru-focused junior

By: Creamer Media Reporter      2nd May 2019 South Africa-headquartered miner Gold Fields has invested C$8-million in Canadian junior Chakana Copper, which is advancing copper and gold prospects in the Peruvian Andes. Through Gold Fields Nazca Holdings, Gold Fields agreed to subscribe for and purchase 15 686 275 common shares in Chakana... 

Anglo American a ‘fundamentally different’ business  

By: Natasha Odendaal     2nd May 2019 As dual-listed Anglo American looks back on what has been described as another “very successful year”, the mining giant can look back on what is a significantly contrasting position less than a decade ago. Since 2012, Anglo American has shifted from a 30% mining margin to a 42% mining margin by... 

Anglo American a ‘fundamentally different’ business
Photo by Bloomberg
Mark Cutifani

Transnet promises to fill executive vacancies as Mahomedy is appointed new acting CEO 

By: Terence Creamer     2nd May 2019 State-owned freight logistics group Transnet has appointed Mohammed Mahomedy as acting group CEO after its board decided not to extend the six-month contract of the Tau Morwe, beyond Friday, May 3. Mahomedy, who has worked with Transnet for more than 12 years, has been acting CFO for the past 12... 

Transnet promises to fill executive vacancies as Mahomedy is appointed new acting CEO
Photo by Creamer Media's Dylan Slater
New acting Transnet CEO Mohammed Mahomedy

Power cuts, mine development and jewellery marketing make headlines  

2nd May 2019 This week Mining Weekly editor Martin Creamer unpacks how power cuts are affecting Amplats, reducing mine development risk and jewellery’s influence on platinum.   

Power cuts, mine development and jewellery marketing make headlines
Power cuts, mine development and jewellery marketing make headlines

Iamgold CEO expects more buyout deals in gold industry

By: Reuters     2nd May 2019 The gold industry is likely to see an increase in buyout deals in the near future as miners fight to attract a shrinking pool of investment capital, the chief executive of Canada's Iamgold said on Wednesday. The industry's buyout frenzy was sparked earlier this year when Barrick Gold and... 

Iamgold CEO expects more buyout deals in gold industry
Iamgold CEO Stephen Letwin

New Ivanhoe president named as Johansson retires

By: Creamer Media Reporter      2nd May 2019 Tony Giardini has returned to Ivanhoe Mines and has been named president of the Canadian company, which is focusing on base metals and platinum-group metals projects in the Democratic Republic of Congo and South Africa. Giardini, who was most recently executive VP and CFO of Toronto-based... 

Former Exxaro employees receive shares in Arnot mine

1st May 2019 Mineral Resources Minister Gwede Mantashe on Wednesday officially handed over a 50% shareholding held by mining company Exxaro in the Arnot coal mine, in Middleburg, Mpumalanga, to former Arnot Coal employees. In a statement, the Department of Mineral Resources highlighted the handover as an... 

All 1 800 trapped Sibanye miners are rescued, government says

By: Bloomberg     1st May 2019 All 1 800 workers who had been trapped at a Sibanye Gold Ltd. underground platinum mine in South Africa have been brought to the surface, the Department of Mineral Resources said in a tweet. Efforts had been under way to hoist up those remaining after an accident had blocked a shaft used to... 

Tiger scratches at funding

By: Esmarie Iannucci     1st May 2019 Copper producer Tiger Resources has secured $13.2-million in funding from senior lender Taurus Mining Finance Fund. Tiger said on Wednesday that the new finance facility will provide interim funding support for its ongoing operations in the Democratic Republic of Congo, and would allow the... 

North Dune offers mine extension for Base

By: Esmarie Iannucci     1st May 2019 Mineral sands miner Base Resources has reported a mineral resource estimate of 171-million tonnes, grading an average of 1.5% heavy minera,s for 2.6-million tonnes of heavy minerals at the Kwale North Dune, at its Kwale operations, in Kenya. Mining at the Kwale operation is currently being... 

Mineral Resources's Ebitda on the up

By: Esmarie Iannucci     1st May 2019 ASX-listed Mineral Resources on Wednesday has increased its earnings before interest, tax, depreciation and amortization (Ebitda) of between A$360-million and A$390-million, for the 2019 financial year. This was up from the previous guidance of between A$280-million and A$320-million estimated... 

Mineworkers held back at Thembelani shaft for their safety – Sibanye

By: Tasneem Bulbulia     30th April 2019 Sibanye-Stillwater on Tuesday afternoon confirmed that mineworkers at the Thembelani shaft have been held back from being hoisted back to surface for their own safety, after rails fell off a conveyance earlier in the day. The Association of Mineworkers and Construction Union (AMCU) had earlier... 

Minerals Council launches coal-focused Mining for Schools module

By: Tasneem Bulbulia     30th April 2019 The Minerals Council South Africa has launched the third module of its Mining for Schools initiative – an online platform with resources for teachers and learners to reinforce, enhance and extend learning about the South African mining industry. Focusing on coal, the module sheds light on one of... 

NUM calls for reskilling of Eskom workers to equip them for clean-energy jobs  

By: Terence Creamer     30th April 2019 The National Union of Mineworkers (NUM) has called for greater attention to be given to the reskilling of Eskom workers “so that they can be absorbed” into clean-energy technology work opportunities. In a statement released following a meeting of its national executive committee in Gauteng, the... 

NUM calls for reskilling of Eskom workers to equip them for clean-energy jobs

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