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Africa News

Tailings operations contribute to more than 50% increase in Pan African’s output 

By: Marleny Arnoldi     17th May 2019 Aim- and JSE-listed Pan African Resources has reported solid gold production from its Elikhulu project for the nine months ended March 31, making up for its Evander project’s lossmaking underground operations. Gold production from the company’s continuing operations increased to 123 771 oz, a... 

African Battery Metals completes field operations at Kisinka project

By: Simone Liedtke     17th May 2019 Field operations at Aim-listed African Battery Metals’ Kisinka copper/cobalt project, in the Democratic Republic of Congo, have now been completed. ABM executive director Paul Johnson says the team “coped well with difficult on-site logistics as grass levels remained high after late rains, and we... 

Denham to support Diamond Fields’ Madagascar zircon project

By: Creamer Media Reporter      17th May 2019 TSX-V-listed Diamond Fields Resources (DFR) on Thursday unveiled a cooperation agreement with private equity firm Denham Capital’s Denham Mining Fund, which also includes an option agreement that could see the junior being carried to production at the Beravina zircon project, in Madagascar.... 

Sibanye wins final go-ahead for Lonmin deal

By: Reuters     17th May 2019 Competition Appeal Court on Friday gave the green light to Sibanye-Stillwater's takeover of Lonmin in a deal that aims to create the world's second-largest platinum producer. Lonmin's biggest mining union, the Association of Mineworkers and Construction Union, filed an appeal to try to block the... 

Sibanye wins final go-ahead for Lonmin deal

Billionaire Friedland close to deal with BHP on Guinea iron-ore

By: Bloomberg     17th May 2019 Billionaire mining investor Robert Friedland is close to a deal to take over an iron-ore deposit in Guinea from owners including BHP Group, according to people familiar with the situation. Friedland is in advanced talks with BHP, Newmont Goldcorp and Areva, that will see him move to develop the... 

Rebranded Minerals Council reflects the promise of the future 

By: Nadine James     17th May 2019 The Minerals Council South Africa – formerly the Chamber of Mines –  officially rebranded in May 2018, repositioning the organisation to reflect, “the promise of the future”, by amending its role and ethos to drive a positive reform agenda that enables the industry to reach its true economic and... 

Rebranded Minerals Council reflects the promise of the future
Minerals Council CEO Roger Baxter discusses the organisation’s rebranding and role in the industry. Camerawork and Editing: Creamer Media's Nicholas Boyd.

Sibanye-Stillwater plans to resume dividend payments in 2020

By: Reuters     16th May 2019 Higher prices for industrial precious metals palladium and platinum have boosted earnings at Sibanye-Stillwater, enabling the miner to repay debt and plan to resume dividends next year, its chief executive Neal Froneman said. Sibanye, once the industry's highest dividend payer, last made a... 

Sibanye-Stillwater plans to resume dividend payments in 2020
Sibanye -Stillwater CEO Neal Froneman

Katanga’s first-quarter loss a share widens

By: Simone Liedtke     16th May 2019 Katanga Mining on Thursday announced that its basic and diluted loss a share had widened to $0.09 for the first quarter, ended March 31, from $0.04 in the first quarter of 2018. Adjusted earnings before interest, taxes, depreciation and amortisation increased to $41.8-million, from $16.3-million... 

Power Africa moves towards its goal of bringing more energy to the continent

By: Kim Cloete     16th May 2019 Power Africa, which was launched by former US President Barack Obama six years ago, is working towards its target of providing energy access to an additional 60-million new homes and businesses and adding 30 000 MW of cleaner, more efficient electricity generation capacity on the African... 

$62m Zimbabwe smelter heeds local beneficiation call 

By: Martin Creamer     16th May 2019 The $62-million smelter at Unki Mine’s existing complex is a strategic investment, which meets local beneficiation commitments, Anglo American Platinum said on Thursday, when it opened the completed installation at a ceremony in Shurugwi, Zimbabwe. The smelter investment is indicative of the... 

$62m Zimbabwe smelter heeds local beneficiation call
Matte casting at the new smelter at Anglo American Platinum’s Unki Mine in Zimbabwe.

Metallon demands $132m from Zimbabwe central bank – documents

By: Reuters     16th May 2019 Africa-focused gold miner Metallon Corporation is demanding nearly $132-million it says it is owed by Zimbabwe's central bank, legal documents showed on Thursday, as the country's mining sector grapples with a severe dollar crunch. The central bank denied it was in arrears with the company. 

Theta gold project proves viable

By: Esmarie Iannucci     16th May 2019 A feasibility study into the Theta gold project, in South Africa, has confirmed the project’s economics and commercial viability, ASX-listed Theta Gold Mines reported on Thursday. The feasibility study has estimated a total capital cost of $34.3-million over the five-year mine life, which... 

Lulo delivers another stellar diamond

By: Esmarie Iannucci     16th May 2019 A 130 ct gem quality diamond has been recovered from the Lulo diamond project, in Angola, owner Lucapa Diamond Company reported on Thursday. The diamond is the thirteenth stone of more than 100 ct to be recovered to date, and the second so far in 2019, Lucapa told shareholders. 

Economic opportunities, electricity generation, Tharisa Minerals make headlines 

16th May 2019 This week the CEO of Eunomix Claude Baissac paid Mining Weekly a visit and called on South Africans to act together to realise economic opportunities. In a time of energy uncertainty, the path is being paved for South Africans to generate their own electricity. And, Tharisa Minerals is sticking... 

Economic opportunities, electricity generation, Tharisa Minerals make headlines
Economic opportunities, electricity generation, Tharisa Minerals make headlines

Presidency slapped with hefty R29.9bn claim over Lesotho diamonds

By: News24Wire      16th May 2019 A diamond mining company has filed a R29.9-billion claim against President Cyril Ramaphosa and his government as a near three-decade-long dispute over expropriated diamond mining rights in Lesotho reaches South African courts again. Josias van Zyl, MD of Swissbourgh Diamond Mining, is arguing... 

Debmarine Namibia to invest $468m in its seventh diamond recovery vessel 

By: Simone Liedtke     16th May 2019 Debmarine Namibia, a joint venture between diamond miner De Beers and the Namibian government, has approved the construction of a new custom-built diamond recovery vessel, which will become the seventh such vessel in Debmarine’s fleet. The vessel, which will be built at a cost of $468-million,... 

Debmarine Namibia to invest $468m in its seventh diamond recovery vessel
De Beers CEO Bruce Cleaver

Northam Platinum plans to buy back preference shares 

By: Reuters     15th May 2019 Northam Platinum plans to buy back about 15-million preference shares out of 159-million currently in issue in the financial year ending June 2020, its chief executive said on Wednesday. The miner, one of the top platinum producers globally, wants to reward shareholders following a boost to... 

Ivanhoe receives additional C$679m investment

By: Simone Liedtke     15th May 2019 Co-chairpersons of TSX-listed Ivanhoe Mines, Robert Friedland and Yufeng Sun, on Wednesday announced that Citic Metal, through a subsidiary, is investing an additional C$612-million in Ivanhoe at C$3.98 a share. Zijin Mining Group has now also fully exercised its antidilution rights, also at... 

Positive reaction to Radebe’s lifting of licence restraints on small-scale power plants 

By: Terence Creamer     15th May 2019 Industry has reacted positively to revelations that Energy Minister Jeff Radebe has written to the National Energy Regulator of South Africa (Nersa) indicating that it should begin to license small-scale embedded generation (SSEG) projects with capacities of above 1 MW. Business Day reported on... 

Positive reaction to Radebe’s lifting of licence restraints on small-scale power plants

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit 

By: Martin Creamer     15th May 2019 Platinum group metals and chrome mining company Tharisa Minerals has not allowed lower half-year production, profit and cash flow to get in the way of declaring an interim dividend. The Johannesburg- and London-listed company declared a $0.005-a-share payout on earnings a share of $0.4c, in... 

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit
Photo by Creamer Media
Tharisa Minerals CEO Phoevos Pouroulis.

ABM to buy 35% stake in Katoro's Haneti project

By: Creamer Media Reporter      15th May 2019 Aim-listed Katoro Gold has entered into an investment and option agreement with fellow Aim-listed African Battery Minerals (ABM) that will result in ABM acquiring up to 35% of Katoro's Haneti nickel project, in Tanzania, for £125 000. Under the terms of the agreement, ABM will acquire, in... 

Bushveld's Vametco achieves record monthly production

By: Creamer Media Reporter      15th May 2019 Diversified miner Bushveld Minerals' Vametco subsidiary produced 270 t of vanadium in March – the highest monthly production rate achieved by the operation in the past 21 months. This achievement comes on the back of improvements in mine production scheduling, vanadium grade in the kiln feed and... 

Zimbabwe platinum mines to ride out power cuts, gold output less secure 

By: Reuters     15th May 2019 Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts... 

Lonmin likely to cut fewer jobs due to revenue boost – CEO

By: Reuters     15th May 2019 Lonmin will delay or reduce the number of jobs it had planned to cut in South Africa as soaring palladium prices have boosted revenue, its chief executive said, ahead of a takeover by Sibanye-Stillwater. Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the... 

Avesoro's first-quarter Ebitda margin improves to 16%

By: Creamer Media Reporter      15th May 2019 West African gold producer Avesoro Resources achieved a 102% quarter-on-quarter increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $9.5-million for the first quarter of this year. Its Ebitda margin also improved to 16%, compared with the 8% margin achieved in... 

Not all deals at Transnet went through prescribed processes – acting CEO

By: African News Agency      15th May 2019 Not all transactions at State-owned logistics company Transnet were handled in compliance with stipulated processes, acting CEO Mohammed Mahomedy told the commission probing graft on Wednesday. "What we found was that certain transactions were approved through normal processes and some of the... 

Not all deals at Transnet went through prescribed processes – acting CEO
Photo by Creamer Media's Dylan Slater
Acting Transnet CEO Mohammed Mahomedy

Acacia concludes termination of earn-in agreement over Burkina Faso project

By: Creamer Media Reporter      15th May 2019 London-listed Acacia Mining has signed the definitive documentation required to terminate its earlier earn-in agreement with TSX-V- and FSE-listed Sarama Resources over the South Houndé project, in Burkina Faso. Acacia announced in November last year that it would divest of the project, following... 

Webber Wentzel provides overview of Medico-Legal Investigations of Mine Deaths guideline

By: Simone Liedtke     15th May 2019 Following the Chief Inspector of Mines’ publication of a guidance note on Medico-Legal Investigations of Mine Deaths, which aims to provide certainty about the processes to be followed in the event that the cause of a death at a mine is not immediately clear, law firm Webber Wentzel partner Kate... 

Webber Wentzel provides overview of Medico-Legal Investigations of Mine Deaths guideline
Webber Wentzel partner Kate Collier

Trade war spurs 'change in attitude' on gold for spooked markets

By: Bloomberg     15th May 2019 Donald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge. Gold open interest, a tally of outstanding futures contracts, surged the most since mid-2016 on Monday to the highest in more than seven weeks. Prices of the metal have advanced... 

Trade war spurs 'change in attitude' on gold for spooked markets

Military stake stymies $4bn Zimbabwe platinum project  

By: Bloomberg     15th May 2019 A plan to build Zimbabwe’s biggest platinum mine at a cost of about $4-billion is floundering because a military stake in the project has deterred potential backers, according to people familiar with the funding discussions. The African Export-Import Bank has the mandate to raise money for the... 

Military stake stymies $4bn Zimbabwe platinum project

Barrick Gold prepping sale of Zambian copper mine in H2 – sources

By: Reuters     14th May 2019 Barrick Gold, the world's second largest bullion miner, is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers, three sources with knowledge of the matter said. Fresh from two major deals in recent months, Barrick has said it plans to... 

Barrick Gold prepping sale of Zambian copper mine in H2 – sources

Finding fossil fuel investors is becoming harder, says Hadebe 

By: Kim Cloete     14th May 2019 With a crackdown on carbon emissions, it is becoming increasingly difficult to find investors that support fossil fuels, says Eskom CEO Phakamani Hadebe. “The truth is, how will we fund fossil fuels if we remain on them? The trend in financial markets is that you see fewer and fewer investors... 

Finding fossil fuel investors is becoming harder, says Hadebe
Photo by Creamer Media's Dylan Slater
Eskom CEO Phakamani Hadebe

Edenville restarts activities at Rukwa after securing funding

By: Tasneem Bulbulia     14th May 2019 Aim-listed Edenville Energy has recently received the proceeds of £100 000 from a share placement and expects to receive the net proceeds from a conditional offer to raise a further £410 000 shortly and has, therefore, restarted a number of activities at its Rukwa coal project, in south-west... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

Release of updated IRP imminent, says Radebe, as he allays coal producers' fears  

By: Kim Cloete     14th May 2019 Energy Minister Jeff Radebe has promised that the update of the Integrated Resource Plan, which reflects the government’s policy blueprint for the power sector, will be concluded "very shortly". He told delegates attending the African Utility Week and PowerGEN Africa forum, in Cape Town, on... 

Release of updated IRP imminent, says Radebe, as he allays coal producers' fears
Photo by Bloomberg
Energy Minister Jeff Radebe

Petra sells 424.89 ct diamond for nearly $15m

By: Creamer Media Reporter      14th May 2019 London-listed Petra Diamonds has sold the 424.89 ct Legacy of the Cullinan Diamond Mine diamond to Stargems Group/Choron for just under $15-million. The exceptional D-colour Type IIa diamond was mined from the Cullinan C-Cut and adds to the most famous diamonds to have originated from the... 

Exceptional high-grade mineralisation found at Pensana’s Angola project

By: Tasneem Bulbulia     14th May 2019 New shallow, high-grade intersections received from a further 24 holes of the 66-hole reverse circulation infill drilling programme at ASX-listed Pensana Metals’ Longonjo neodymium and praseodymium (NdPr) project, in Angola, have returned some of the highest-grade NdPr mineralisation ever... 

CER urges Ramaphosa to appoint environment-focussed Cabinet  

By: Sashnee Moodley     14th May 2019 In anticipation of next week’s Cabinet announcement, law clinic the Centre for Environmental Rights has requested that President Cyril Ramaphosa make environmental governance a priority and appoint committed Ministers to lead institutional reform. The CER has written to Ramaphosa with... 

CER urges Ramaphosa to appoint environment-focussed Cabinet
President Cyril Ramaphosa

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