R/€ = 15.63 Change: 0.01
R/$ = 13.94 Change: 0.00
Au 1427.48 $/oz Change: -11.68
Pt 849.14 $/oz Change: -6.30

Africa News

Exciting new stimulus for hydrogen power, fuel cells, platinum economy 

By: Martin Creamer     9th July 2019 The emerging world of hydrogen power, fuel cells, platinum and climate change mitigation received another stimulus on Tuesday with the announcement of new high-level investment backing for a fund that promotes technologies dependent on the high-performance characteristics of platinum group metals... 

Tharisa mine set for strong finish to 2019 financial year 

By: Marleny Arnoldi     9th July 2019 Platinum group metals and chrome miner Tharisa says an improvement in key production metrics has set its Tharisa mine up for a strong finish to the 2019 financial year. For the third quarter ended June 30, Tharisa achieved a 2% quarter-on-quarter improvement in reef tonnes mined and a 5.4%... 

Tharisa mine set for strong finish to 2019 financial year
Tharisa CEO Phoevos Pouroulis

Bass finds buyers in India

By: Esmarie Iannucci     9th July 2019 Graphite miner Bass Metals has signed an agency agreement to supply graphite concentrates from its Graphmada project, in Madagascar, into the Indian market. The exclusive agency agreement with industrial minerals group Polo Queen Minchems provides the Indian company with an exclusive in-country... 

Strandline adds to Tajiri resource

By: Esmarie Iannucci     9th July 2019 Mineral sands developer Strandline Resources has reported an 80% increase in the resource estimate of the Tajiri project, in Tanzania, which is now estimated to host some 268-million tonnes grading 3.3% total heavy minerals. The new resource estimate has increased the contained heavy mineral... 

Gold sees wildest price swings since 2016

By: Bloomberg     9th July 2019 The gold market is seeing the biggest price swings since late 2016 as traders and investors struggled to read when the Federal Reserve may cut interest rates. Bullion futures settled little changed in New York Monday just days after the metal surged near the highest since 2013 on bets the Fed... 

Congo’s swing producers turn to copper after cobalt meltdown 

By: Bloomberg     8th July 2019 Production of hand-dug cobalt in the Democratic Republic of Congo is poised to drop sharply after prices tumbled, prompting many of the country’s thousands of artisanal miners to switch focus to copper instead. Congo last year produced about 72% of the world’s cobalt, a key ingredient in the... 

Congolese army fires in the air during protest near Glencore plant 

By: Reuters     8th July 2019 Congolese soldiers fired in the air on Monday as illegal miners protested outside a metallurgical plant on a copper and cobalt concession run by Glencore, a witness said. The protest near the Luilu plant follows the eviction last week of thousands of illegal miners from Glencore's Kamoto Copper... 

Endeavour grows Ity deposit’s resources to 500 000 oz

By: Tasneem Bulbulia     8th July 2019 Gold miner Endeavour Mining has recorded a significant addition in high-grade resources at the Le Plaque discovery at its flagship Ity mine, in Côte d’Ivoire. The definition of seven new targets is also expected to boost confidence in delineating further resources. 

Premier to loan owners of a Namibian manganese project $1.35m

By: Tasneem Bulbulia     8th July 2019 Aim-listed Premier African Minerals on Monday announced a strategic loan to MN Holdings (MNH), the owner and operator of the Otjozondu manganese mining project in Namibia, and the appointment of two key mining executives as consultants to Premier. Premier and Cambrian have jointly agreed to loan... 

BlueRock Diamonds’ new management delivers record quarterly performance

By: Tasneem Bulbulia     8th July 2019 Aim-listed BlueRock Diamonds, which owns and operates the Kareevlei diamond mine in the Kimberley region of South Africa, achieved record production of 3 516 ct in the second quarter, four times the 875 ct produced in the second quarter of last year. “I am very pleased with the impact that our... 

Acacia’s production rebounds sharply in second quarter

By: Tasneem Bulbulia     8th July 2019 Tanzanian gold producer Acacia Mining achieved a 51% quarter-on-quarter increase in production in the second quarter. This follows the successful implementation of a revised mining plan at the North Mara underground and openpit operations, which resulted in an 80% quarter-on-quarter increase in... 

Platinum giants bolster positions before wage talks begin

By: Bloomberg     8th July 2019 When the world’s biggest platinum miners sit down to hammer out a wage deal with one of South Africa’s most militant labor unions this week, they’ll hold two potentially winning cards in reserve: the cash and metal stockpiles to endure a strike. Those buffers may prove crucial as Anglo American... 

De Beers launches 3-year $315 000 partnership to develop women engineers

By: Nadine James     8th July 2019 De Beers Group on Monday announced the launch of a three-year $315 000 partnership with WomEng to develop the next generation of highly skilled women engineers. De Beers will invest the the funds in programmes that aim to encourage young women to study science, technology, engineering and... 

Implats to swing to full-year earnings

By: Simone Liedtke     8th July 2019 An improved rand platinum-group metals (PGMs) basket price and improved operational performances during the financial year ended June 30 are expected to result in platinum miner Impala Platinum (Implats) reporting basic and headline earnings a share for the period. This compared with the basic... 

Central bank gold purchases up 73% so far this year, says WGC

By: Nadine James     8th July 2019 Net gold purchases by central banks totalled 35.8 t in May, 27% lower month-on-month, but net purchases in the year to date, at 247.3 t, are 73% higher year-on-year, the World Gold Council (WGC) reports. WGC market intelligence director Alistair Hewitt on Monday pointed out that central banks in... 

Firestone recovers 54 ct yellow diamond at Liqhobong

By: Simone Liedtke     8th July 2019 Firestone Diamonds has recovered a 54 ct intense fancy yellow, sawable diamond from its Liqhobong mine, in Lesotho. The diamond will go on sale at the next tender, which is scheduled to take place during September. 

Firestone recovers 54 ct yellow diamond at Liqhobong

Sundance signs new agreement with AustSino

By: Esmarie Iannucci     8th July 2019 Iron-ore hopeful Sundance Resources has inked a new agreement with ASX-listed AustSino and its noteholders, as uncertainty around the reinstatement of the Mbalam Convention with the Cameroon government, remains. Under a previous agreement struck between the Parties, AustSino originally agreed... 

Anglo American firms up stake in Orion as Prieska gets enviro nod 

By: Esmarie Iannucci     8th July 2019 Mining major Anglo American’s enterprise development division, Anglo American sefa Mining Fund (AASMF), has taken a 3.7% interest in ASX- and JSE-listed Orion Mining. AASMF in 2015 subscribed for 15.75-million redeemable preference shares in Repli Trading No 27, which is 73.33% held by Orion, at... 

Anglo American firms up stake in Orion as Prieska gets enviro nod
Orion MD Errol Smart

Barrick prepares to start sale of Massawa gold project

By: Bloomberg     7th July 2019 Barrick Gold is working with advisers to find a buyer for its Massawa gold project in Senegal, which it acquired as part of its purchase of Randgold Resources, people familiar with the matter said. The asset could fetch a value of about $500-million, the people said, asking not to be identified... 

Barrick prepares to start sale of Massawa gold project
Photo by Reuters
Barrick CEO Mark Bristow

Swedish Stirling signs exclusivity agreement with Glencore South Africa for clean tech

By: Tasneem Bulbulia     5th July 2019 Cleantech company Swedish Stirling has signed an exclusivity agreement with Glencore Operations South Africa’s alloys division, which grants it exclusivity in negotiating the installation of initially up to 25 PWR BLOK 400-F at a 9.9 MW power generation facility at a Glencore smelter, in... 

Trans Hex proposes JSE delisting

By: Marleny Arnoldi     5th July 2019 JSE-listed Trans Hex announced on Friday a share buyback programme to purchase the issued share capital of shareholders at R1 apiece, which will effectively delist the company from the JSE. This offer excludes the shares of Cream Magenta 140, Metcap 14 Proprietary and RAC Investment Holdings –... 

PIC’s shareholding in Resgen decreases to 15.42%

By: Simone Liedtke     5th July 2019 Energy resources firm Resource Generation (Resgen) on Friday reported that the Public Investment Corporation’s (PIC’s) interest in the company had decreased to 15.42% of its total shares. According to Resgen’s website, the PIC had previously held a 19.9% interest in the company. 

Oro Verde targets 60% stake in Ugandan rare earths project

By: Nadine James     5th July 2019 ASX-listed Oro Verde will acquire up to a 60% stake in the Makuutu rare earths project, in Uganda. The project is owned by Rwenzori Rare Metals, which is, in turn, 85%-owned by South Africa’s Rare Earth Elements Africa. 

Atlatsa shareholders to meet on ‘going private’ deal on Aug 2 

By: Nadine James     5th July 2019 Shareholders of Atlatsa Resources Corporation will, on August 2, vote on a special resolution to implement a transaction that will result in the company delisting from the JSE and TSX. The transaction, first announced in December 2018, involves a two-phase restructuring plan in terms of which... 

UN deep sea mining body rejects Greenpeace criticism 

By: Reuters     5th July 2019 The International Seabed Authority (ISA) has rejected criticism from Greenpeace over its handling of ocean mining, fuelling a spat that threatens to overshadow talks this month by the UN body towards rules for deep sea mining. Mining international waters is in the spotlight as companies and... 

UN deep sea mining body rejects Greenpeace criticism

Acacia reports 13% rise in gold reserves for Tanzania mine 

By: Reuters     5th July 2019 Acacia Mining on Friday reported a 13% rise in gold reserves at the end of May for its Gokona mine in North Mara, Tanzania, adding weight to its view that majority shareholder Barrick Gold's buyout proposal undervalued the miner. Acacia Mining last month strongly disagreed with the world's No. 2... 

Gold heads for the longest stretch of gains in eight years

By: Bloomberg     5th July 2019 Gold is headed for the longest stretch of weekly gains since 2011 as investors count down to the release of a highly-anticipated US jobs report that could provide clues on the Federal Reserve’s interest rate path. Bullion’s higher for the seventh week as investors bet on looser policy from the... 

Gold heads for the longest stretch of gains in eight years

Strong fundamentals positioning miners to adapt to changing shareholder expectations

By: Simone Liedtke     5th July 2019 Despite the world’s top 40 miners consolidating their performance of the past several years, they are “not getting the credit for it”, according to consultancy PricewaterhouseCoopers’ (PwC’s) ‘Mine 2019: Resourcing the Future’ report, which provides key trends for the mining industry and PwC’s... 

Strong fundamentals positioning miners to adapt to changing shareholder expectations

South African enterprises slow to adopt AI – study

By: Tasneem Bulbulia     4th July 2019 The technologies making up the Fourth Industrial Revolution (4IR) have yet to be adopted enthusiastically by South African enterprises, a new research study, entitled ‘Fourth Industrial Revolution in South Africa 2019: Enterprise uptake and expectations for emerging technologies’, has found. The... 

Blyvoor Gold winning overwhelming support from employees, community 

By: Martin Creamer     4th July 2019 Emerging gold-mining company Blyvoor Gold, which is targeting a resumption of mining at the old Blyvooruitzicht gold mine in the last quarter of this year, is winning overwhelming support from the once liquidated mine’s former employees, as well as the members of the nearby mine community.... 

Blyvoor Gold winning overwhelming support from employees, community
Photo by Creamer Media's Dylan Slater
From left Blyvoor Gold deputy chairperson Richard Floyd, BEE of Blyvoor spokesperson Wels Sempe, Mining Weekly’s Martin Creamer, Blyvoor Gold CEO Alan Smith, Blyvoor Gold spokesperson Joseph Rammusa, Blyvoor Gold chairperson Peter Skeat and Community of Blyvoor spokesperson Johannes Tala.

AfriForum, TKAG win appeal to set aside petroleum exploration, production regulations

By: Simone Liedtke     4th July 2019 AfriForum and the Treasure the Karoo Action Group (TKAG) have succeeded in their appeal to have Mineral Resources and Energy Minister Gwede Mantashe, and Environment, Forestry and Fisheries Minister Barbara Creecy set aside the regulations on petroleum exploration and production. The regulations... 

Iron-ore 'disconnected from fundamentals' after huge rally

By: Bloomberg     4th July 2019 First, iron-ore hit $100 a ton, then it raced straight to $110, and now spot prices are well north of $120: the commodity’s rally has been so strong it’s triggering warnings that the gains have taken the market beyond fundamental drivers and prices are likely set for a pullback. Futures tanked.... 

New association for rare earths established

By: Simone Liedtke     4th July 2019 The global Rare Earth Industry Association (REIA) has been established. Launched with the support of European research and development funding agency EIT RawMaterials, the establishment of REIA comes at a time of trade friction between the US and China, which threatens to impact on the global... 

Metso Minerals, Outotec combine forces

By: Marleny Arnoldi     4th July 2019 Metso Minerals, subsidiary of global industrial company Metso, will merge with Finnish-listed technology company Outotec to form a leading process technology, equipment and services company serving the minerals, metals and aggregate industries. The combined company, to be named Metso Outotec,... 

Metso Minerals, Outotec combine forces
Metso CEO Pekka Vauramo

Glencore confirms Congo security presence at mine 

By: Reuters     4th July 2019 Glencore on Thursday confirmed Democratic Republic of Congo armed forces were in the area around a copper and cobalt mine run by the company, a week after a landslide there killed 43 miners. Congolese security forces began evicting illegal miners from the mine on Thursday, local activists said. 

Zambia plans law compelling miners to procure locally – Minister

By: Reuters     4th July 2019 Zambia is planning a law to compel mining companies to give local suppliers a fair share of procurement, its mines minister said on Thursday, in the latest sign of the government taking an interventionist approach in its mining sector. Zambia is Africa's second-largest copper producer, with... 

Mkango granted fourth exploration licence in Malawi

By: Marleny Arnoldi     4th July 2019 The Malawian government has granted TSX-V- and Aim-listed Mkango Resources a new and exclusive three-year prospecting licence in the Mchinji district, adjacent to licences with known nickel/cobalt resources. Mkango will evaluate all historical data over the 868 km2 licence area and exploration... 

Vedanta seeks arbitration from South African High Court amid KCM lawsuit  

By: Marleny Arnoldi     4th July 2019 Diversified miner Vedanta Resources on Wednesday obtained an ex parte order in the High Court of South Africa, granting the company leave to institute an urgent interim interdict application against ZCCM Investments Holdings. In terms of the urgent application, served on both Zambian company... 

Vedanta seeks arbitration from South African High Court amid KCM lawsuit

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