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Africa News

Responsible sourcing of gemstones to receive more attention – Gemfields

By: Tasneem Bulbulia     20th June 2019 Responsible sourcing of coloured gemstones will receive ever-increasing attention and become progressively more important to consumers, predicts Gemfields and Kagem Mining CEO Sean Gilbertson. The observation comes as Gemfields recently contributed new data and insights to independent global... 

Hydrogen Council, dam safety and climate change make headlines  

By: Creamer Media Reporter      20th June 2019 This week, new members join the Hydrogen Council; dam safety risks could scare investors and coal companies fighting climate change are on the right path. Mining Weekly editor Martin Creamer unpacks the headlines.   

Hydrogen Council, dam safety and climate change make headlines
Hydrogen Council, dam safety and climate change make headlines

Resolute Mining determined to grow as adds London listing

By: Reuters     20th June 2019 Australian-listed gold miner Resolute Mining lists on the London Stock Exchange on Thursday to broaden its investor base and pursue its ambition to be a high-tech, pan-African gold producer, partly through acquisitions. New listings have been scant in London, where uncertainty over Britain's... 

Gold spikes to more than 5-year high as Fed signals ready to cut 

By: Bloomberg     20th June 2019 Gold jumped to the highest in more than five years after the US Federal Reserve indicated a readiness to cut interest rates and the dollar tumbled. Gold had a lackluster start to the year but gained momentum this month as investors sought havens amid slowing global growth due to the fallout from... 

Gold spikes to more than 5-year high as Fed signals ready to cut

Afrimat Construction Index shows marginal improvement year-on-year

By: Simone Liedtke     20th June 2019 JSE-listed Afrimat’s Construction Index (ACI) for the first quarter broadly followed the same “disappointing trend” evident in overall economic activity during the quarter, with gross domestic product (GDP) having contracted by more than 3% quarter-on-quarter. Economist Dr Roelof Botha, who... 

Afrimat Construction Index shows marginal improvement year-on-year
Photo by Creamer Media's Dylan Slater
Afrimat CEO Andries van Heerden

African Battery Metals increases shareholding in Katoro Gold

By: Simone Liedtke     20th June 2019 Aim-listed African Battery Metals (ABM) has confirmed the completion of its investment and option agreement with fellow Aim-listed Katoro Gold. ABM in May exercised an option to acquire shares and warrants in Katoro and a direct project holding in the Haneti nickel project in Tanzania. 

Pro Civil to buy Gem’s Ghaghoo mine 

By: Simone Liedtke     20th June 2019 LSE-listed Gem Diamonds has entered into a binding agreement with Pro Civil for the sale of 100% of the share capital of Gem Diamonds Botswana (GDB), which holds the Ghaghoo diamond mine, which has been on care and maintenance since March 2017. Under the share sale agreement, Pro Civil will make... 

Pro Civil to buy Gem’s Ghaghoo mine
Gem Diamonds CEO Clifford Elphick

Zambian President expects to find buyer for Vedanta unit by July

By: Bloomberg     20th June 2019 Zambia’s government expects to conclude talks with potential buyers of Vedanta Resources’s local copper unit within a month, President Edgar Lungu said. His comments preempt a hearing by Zambia’s High Court on Thursday on the state’s bid to liquidate the asset after a dispute between the... 

Zambian President expects to find buyer for Vedanta unit by July
Zambia President Edgar Lungu and Vedanta chairperson Anil Agarwal

TCTA moves ahead with R12.3bn second phase of Mokolo-Crocodile water scheme 

By: Terence Creamer     19th June 2019 Trans-Caledon Tunnel Authority (TCTA) announced on Wednesday that it had commenced with the implementation of the Mokolo-Crocodile Water Augmentation Project Phase 2A (MCWAP-2A) project, which is strongly associated with minerals and energy projects in the Limpopo province and is, thus, facing... 

De Beers Group launches diamond education course partnership in India

By: Tasneem Bulbulia     19th June 2019 De Beers Group Institute of Diamonds is partnering with the International Institute of Gemology in India (IIG) to deliver diamond education courses throughout that country. The IIG has been operating for more than 50 years and is entrenched in gemology and in diamond and jewellery education in... 

Transnet signs R8.5bn rail deal with UMK 

By: Marleny Arnoldi     19th June 2019 State-owned freight utility Transnet and manganese producer United Manganese of Kalahari on Wednesday “renewed their business vows” by signing an R8.5-billion contract to move two-million to three-million tonnes a year of manganese by rail to six South African exports channels. Transnet... 

Transnet signs R8.5bn rail deal with UMK
Photo by Creamer Media's Marleny Arnoldi
UMK CEO Victor Radko and Transnet commercial sales and marketing group executive Mike Fanucchi

Nordgold to acquire Guyana gold project

By: Simone Liedtke     19th June 2019 Diversified gold miner Nordgold has entered into an option agreement with ASX-listed Alicanto Minerals for the exclusive right to acquire a 100% interest in the Arakaka gold project, in Guyana. Under the terms of the agreement, Nordgold will have an option to acquire a 100% interest in the... 

African banks to fund construction of world’s biggest marine diamond mining vessel

By: Reuters     19th June 2019 Five African commercial banks have partnered in a $375-million financing deal to build a new diamond mining vessel for a subsidiary of Anglo American's diamond unit De Beers. Nedbank Namibia, RMB Namibia, Standard Bank, ABSA and Bank Windhoek agreed to provide 80% of the funding for the ship,... 

Wits researchers find more likely explanation for how platinum forms

By: Marleny Arnoldi     19th June 2019 The University of the Witwatersrand (Wits) has published research on platinum deposits in the Bushveld Complex, which stretches across South Africa’s Limpopo and North West provinces. The research, published in the Scientific Reports journal, states that most of the world’s economically viable... 

Wits researchers find more likely explanation for how platinum forms

Jervois gains entry into Uganda with M2 Cobalt buyout

By: Tasneem Bulbulia     19th June 2019 ASX-listed Jervois Mining has completed a plan of arrangement to acquire TSX-listed M2 Cobalt. The acquisition provides Jervois entry into Uganda to complement its East African ambitions, particularly regarding opportunities around the historic Kilembe mine and the Kasese cobalt refinery. 

PIC’s Sibanye stake rises above 10.7%

By: Tasneem Bulbulia     19th June 2019 The Public Investment Corporation’s (PIC’s) shareholding in precious metals miner Sibanye-Stillwater has increased to nearly 10.71%, from the previously held 9.89%. This follows the conversion of Lonmin shares, following the buyout of Lonmin by Sibanye. 

Alphamin progresses towards final commissioning at Bisie

By: Marleny Arnoldi     19th June 2019 JSE- and TSX-V-listed Alphamin Resources has completed C4 commissioning at its Bisie tin project’s processing plant, in the Democratic Republic of Congo. The C4 commissioning involved feeding the system with material, checking instrumentation calibration, process flows and individual equipment... 

Morocco’s Managem increases stake in Guinea’s Tri-K gold project to 85%

By: Reuters     19th June 2019 Morocco’s leading mining firm Managem said on Tuesday it increased its stake in the Tri-K gold project in eastern Guinea Conakry to 85% after acquiring a 30% stake held by its partner Avocet Mining for $21-million. The acquisition is in line with the group’s strategy to boost its gold production... 

Congo deploys army to protect China Moly's copper mine from illegal miners

By: Reuters     19th June 2019 Congo's military has deployed hundreds of soldiers to protect a major copper and cobalt mine owned by China Molybdenum from illegal miners, an army spokesperson said on Wednesday. The Tenke Fungurume mine is one of the largest in Democratic Republic of Congo, which is Africa's leading copper... 

Eskom appoints Nxumalo as new head of generation 

By: Terence Creamer     19th June 2019 State-owned power utility Eskom has announced that Bheki Nxumalo has been appointed as its group executive for generation as from July 1 2019. Nxumalo takes over the role permanently from Andrew Etzinger, who has been acting in the position for the past nine months. 

Eskom appoints Nxumalo as new head of generation
Bheki Nxumalo

AMSA signs offtake for coking coal from MC Mining’s Makhado Phase 1 

By: Tasneem Bulbulia     19th June 2019 Coal miner MC Mining has signed an offtake agreement with South African steel producer ArcelorMittal South Africa (AMSA), which will buy hard coking coal (HCC) from Phase 1 of the Makhado coking coal project. As South Africa has a limited production of high-quality metallurgical, or coking, coal,... 

AMSA signs offtake for coking coal from MC Mining’s Makhado Phase 1
David Brown

Delay forces adjustment of Gruyere output

By: Esmarie Iannucci     19th June 2019 Gold production expectations from the Gruyere joint venture (JV), in Western Australia, have been downgraded for the 2019 calendar year, on the back of a delay to the completion of the plant construction and commissioning. JV partners Gold Road Resources and Gold Fields on Wednesday reported... 

Gold Fields spends A$112m on micro-grid at Agnew

By: Esmarie Iannucci     19th June 2019 Gold miner Gold Fields on Wednesday announced a A$112-million investment into an energy micro-grid combining wind, solar, gas and battery storage at its Agnew mine, in Western Australia. The Australian Renewable Energy Agency (Arena) will contribute A$13.5-million in funding for the micro-grid,... 

Gold Fields spends A$112m on micro-grid at Agnew

The biggest winner from a rise in precious metals

By: Bloomberg     19th June 2019 The world’s best-performing precious-metals stock is up almost 90% this year, and there are signs the rally could run even further. Impala Platinum Holdings has outpaced 87 global peers with a market value of at least $1-billion in 2019, data compiled by Bloomberg show. The South African miner... 

The biggest winner from a rise in precious metals

The only option for Eskom is one South Africa can't afford 

By: Bloomberg     19th June 2019 South Africa simply has to rescue the nation’s distressed power utility. Even though it can’t afford to. Eskom Holdings supplies 95% of the nation’s electricity. If it went bankrupt, the entire economy would be dragged down as well. The danger of that is growing: The utility has a mountain of... 

The only option for Eskom is one South Africa can't afford
Photo by Creamer Media's Terence Creamer
Eskom's Lethabo power station

Barrick offers more talk but not more stock for Acacia stake

By: Bloomberg     19th June 2019 Barrick Gold’s CEO has no intention of raising his offer to buy out the rest of troubled African unit Acacia Mining – but he will use the next three weeks to talk. Barrick said on Tuesday it received a three-week extension to make a formal offer to minority shareholders for the roughly 36% stake... 

Barrick offers more talk but not more stock for Acacia stake
Barrick CEO Mark Bristow

Acacia agrees to Barrick’s request to extend PUSU deadline

By: Tasneem Bulbulia     18th June 2019 African gold miner Acacia Mining has agreed to its parent company Barrick Gold’s request for an extension to the ‘put up or shut up’, or PUSU, deadline to July 9. The previous deadline was June 18. 

Acacia agrees to Barrick’s request to extend PUSU deadline
Barrick CEO Mark Bristow

Metso mulls potential closure of South African foundry

By: Tasneem Bulbulia     18th June 2019 Global industrial company Metso is considering the potential closure of, or other alternatives for, its foundry operation in Isithebe, in KwaZulu-Natal, South Africa. The Isithebe foundry produces metallic wear part castings for the mining and aggregates industries and employs about 200 people. 

Mining contractor employee dies in vehicle incident at Vanggatfontein

By: Creamer Media Reporter      18th June 2019 One person, an employee of mining contractor Stefanutti Stocks Mining Services, has died after sustaining injuries in a vehicle incident at coal miner Wescoal's Vanggatfontein mine on Monday night. The Department of Mineral Resources and Energy is investigating the circumstances surrounding the... 

Ramaphosa to announce more support for Eskom 

By: Reuters     18th June 2019 President Cyril Ramaphosa will announce more measures to support cash-strapped power utility Eskom, his office said on Tuesday, without providing details. "It is expected that the President will announce further measures to support Eskom's efforts at recovery and financial and operational... 

Ramaphosa to announce more support for Eskom

Finnish authority orders Afarak shareholder to pay €110m fine

By: Creamer Media Reporter      18th June 2019 The Finnish Financial Supervisory Authority (FFSA) has ordered Danko Koncar, the COO of and main shareholder in London-listed Afarak Group, to pay the Finnish government a €110-million fine. The authority in February 2018 ordered Koncar to launch a takeover bid for Afarak’s shares, claiming that... 

Finnish authority orders Afarak shareholder to pay €110m fine
Photo by Creamer Media
Afarak COO and main shareholder Danko Koncar

Six new members join Hydrogen Council

By: Creamer Media Reporter      18th June 2019 Six new member companies have joined the Hydrogen Council, a global CEO-led initiative for hydrogen technologies. The council now has 60 members after BP joined as a steering member and AVL, Itochu Corporation, Liebherr Group, Power Assets Holdings and SinoHytec joined as supporting members. 

The world will get half its power from wind, solar by 2050

By: Bloomberg     18th June 2019 Nearly half the world’s electricity will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plummet. That titanic shift over the next three decades will come as electricity demand increases 62% and investors pump $13.3-trillion into new projects, according... 

Vast getting closer to mining diamonds at Zimbabwe concession

By: Tasneem Bulbulia     18th June 2019 A road map to finalise agreements that will enable Aim-listed Vast Resources to mine for diamonds on the Heritage concession, in Zimbabwe, has been established. This follows after meetings between the company’s senior management, local community leaders and parastatal Zimbabwe Consolidated... 

South African mining companies to seek export opportunities in DRC

By: African News Agency      18th June 2019 The Department of Trade and Industry (DTI) said on Tuesday it would lead a delegation of 40 South African mining companies to the Democratic Republic of the Congo (DRC) to participate in that country's Mining Week event in Lubumbashi. The event is the DRC's largest mining and industrial platform,... 

Kamoa-Kakula development progressing well

By: Tasneem Bulbulia     18th June 2019 TSX-listed Ivanhoe Mines says it is making “excellent progress” on the construction of the Stage 1 six-million-tonne-a-year Kamoa-Kakula copper mine, in the Democratic Republic of the Congo (DRC). After China-based Citic Metal agreed to invest an additional $459-million in Ivanhoe, the pace of... 

Australia’s Resolute to list on LSE

By: Simone Liedtke     18th June 2019 ASX-listed Resolute Mining, which operates gold mines in Australia and Africa, expects its shares will start trading on the LSE on June 20. The dual listing on the LSE is a significant milestone in the ongoing transformation of the gold miner and takes place as the company ramps up its new Syama... 

Zambia’s Mopani Copper Mines shuts down smelter

By: Reuters     18th June 2019 Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. "The majority of the programme is expected to last until the end of the year and will result in a total shutdown of the plant. The investment in the new shafts... 

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