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Africa News

Swiss refiner Metalor to stop processing artisanal gold

By: Reuters     18th June 2019 Switzerland's Metalor, one of the world's biggest gold refineries, said on Monday it would work only with gold from large industrial mines in order to reduce the risk of illegality in its supply chain. Informal methods of gold production, known as "artisanal" or small-scale mining, have grown... 

Don't be in a rush to do business in world's top cobalt producer 

By: Bloomberg     18th June 2019 When a foreign investor with multimillion-dollar projects across Africa was told the president of the Democratic Republic of Congo wanted to see him, he booked a suite at one of the country’s top hotels. After six days of waiting, he left. Since Felix Tshisekedi took the helm of the world’s... 

Don't be in a rush to do business in world's top cobalt producer
Democratic Republic of Congo President Felix Tshisekedi

Gold rally narrows Acacia Mining, Barrick Gold offer gap ahead of deadline

By: Reuters     17th June 2019 Ahead of Tuesday's deadline for Barrick Gold Corp to make a firm buyout bid for its Acacia Mining unit, a gold rally has eroded, but not eliminated, a discount and big Acacia shareholders say they still oppose the offer. Barrick must either firm up its proposal to acquire the 36.1% of Acacia it... 

Gold rally narrows Acacia Mining, Barrick Gold offer gap ahead of deadline

Non-disclosure of dam safety risks could prompt big investors to pull out 

By: Reuters     17th June 2019 Investors with a combined $12.5-trillion in assets, including the Swedish National Pension Funds and the Church of England, could review their stakes in resource companies that use storage dams if they do not release information to assess safety risks. The safety of dams used to store mining... 

Tando soars on SPD plans

By: Esmarie Iannucci     17th June 2019 The share price of ASX-listed Tando Resources closed nearly 18% higher on Monday after the company announced plans to implement parallel development strategies for its SPD vanadium project, in South Africa. The company said that following the results of the May scoping study, the company has... 

South32 reports maiden resource at Taylor

By: Esmarie Iannucci     17th June 2019 Diversified miner South32 has reported a Joint Ore Reserves Committee (Jorc) compliant mineral resource estimate for the Taylor zinc/lead/silver deposit, within its Hermosa project area, in Arizona. The deposit is estimate to host some 155-million tonnes, grading 3.39% zinc, 3.67% lead, 69 g/t... 

Congo State miner's high-flying chief has his wings clipped

By: Bloomberg     14th June 2019 The head of the Democratic Republic of Congo’s State mining company will no longer exercise control over the business, despite being reappointed to the post, the president’s spokesperson has said. Albert Yuma, who was named president of Gecamines’s board in 2010, retained the position in a May 29... 

Studies reveal numerous product opportunities for Giyani’s Botswana projects

By: Nadine James     14th June 2019 Metallurgical testing results of stockpile material from TSX-listed Giyani Metals’ K.Hill and Otse manganese deposits, in Botswana, indicate that a variety of lumpy and fine particle manganese products are possible, the company said on Friday. As an example, Giyani noted that a 36% manganese... 

BlueRock sells 24.98 ct diamond for $190 000

By: Nadine James     14th June 2019 Aim-listed BlueRock Diamonds, the owner and operator of the Kareevlei diamond mine, in Kimberley, has sold a 24.98 ct diamond recovered earlier this month for $190 000. Executive chairperson Mike Houston on Friday commented that the company was delighted with the sale of its largest diamond to... 

S&P revises Sibanye’s outlook to negative owing to liquidity concerns 

By: Nadine James     14th June 2019 Ratings agency S&P Global has revised its outlook for JSE- and NYSE-listed Sibanye Gold to negative, over concern about the gold miner’s ability to absorb potential near-term liquidity events. The agency cites factors such as upcoming wage negotiations at its South African platinum operations,... 

AMCU seeks basic wage of R17 000 for members in platinum sector 

By: Simone Liedtke     14th June 2019 The Association of Mineworkers and Construction Union on Friday announced that it would seek a monthly basic wage of R17 000 for its members when platinum wage discussions get under way later this month. The union represents about 60 000 members in the South African platinum sector. 

AMCU seeks basic wage of R17 000 for members in platinum sector
Photo by Creamer Media's Dylan Slater
AMCU president Joseph Mathunjwa

AST declares maiden quartz resource, celebrates with inaugural blast

By: Nadine James     14th June 2019 AST Sand Mines’ Van Dykspruit quarry, on the border between Gauteng and Mpumalanga, on Friday declared its maiden quartzite-roadstone resource. AST management also oversaw the inaugral blast that would provide access to the underlying high-grade quartzite rock. 

AST declares maiden quartz resource, celebrates with inaugural blast
Van Dykspruit Quarry

Gold busts above $1 350 as Iran tension, fed outlook spur demand 

By: Bloomberg     14th June 2019 Gold smashed above $1 350/oz to a 14-month high as rising geopolitical tensions bolster haven demand ahead of next week’s Federal Reserve meeting, when policy makers may move closer to cutting rates. Bullion for immediate delivery rose as much as 1.2% to $1 358.26/oz. Prices are set for a fourth... 

Third-quarter ferrochrome price down 13% q/q

By: Nadine James     14th June 2019 JSE-listed Merafe Resources on Friday advised shareholders that the European benchmark ferrochrome price had been settled at $1.04/lb for the third quarter. This represents a 13.3% decrease on the ferrochrome price of $1.20/lb for the second quarter, and is the lowest level since the third... 

Kore sets sights on $13m capital raise

By: Esmarie Iannucci     14th June 2019 ASX- and Aim-listed Kore Potash is hoping to raise $13-million through a share placement to fund work at the Sintoukola potash project, in the Republic of Congo. Kore on Friday said that the placement will be conducted through an accelerated bookbuild, which will be launched immediately. 

Oil set for weekly drop as tanker attacks can't dispel trade woes

By: Bloomberg     14th June 2019 Oil headed for a weekly decline as the tanker attacks in the Middle East provided only a relatively small boost to prices that have been hammered by a deepening trade war and swelling US stockpiles. Futures in New York were steady after rising 2.2% Thursday. The White House blamed Iran for the... 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA 

By: Terence Creamer     14th June 2019 Hydrogen and hydrogen-based fuels could help facilitate the decarbonisation of a range of sectors where the pathway for achieving meaningful emission reductions is currently uncertain or difficult, a new global study argues. Released by the International Energy Agency (IEA) at a meeting of G20... 

Hydrogen offers pathway for lowering hard-to-abate carbon emissions – IEA

Defence blasts Ipid for shoddy investigation after Marikana shooting in 2012

By: African News Agency      14th June 2019 The police watchdog, Independent Police Investigative Directorate (Ipid) did not properly followed its mandate in its investigations of the Marikana 2012 massacre, the North West High Court heard on Thursday.  "I put to you that Ipid did not do its job as prescribed in the act, if you did your... 

Defence blasts Ipid for shoddy investigation after Marikana shooting in 2012

Omnia flags full-year loss

By: Reuters     14th June 2019 South African chemicals and fertiliser maker Omnia Holdings said on Friday it expected to report a full-year loss as drought, a volatile currency, changes in the mining industry and difficult global trading conditions weighed on earnings. The firm said the headline loss per share, the main profit... 

Acacia investor Odey against any 'best and final' offer from Barrick

By: Reuters     14th June 2019 British hedge fund Odey Asset Management said on Thursday it would reject any offer from Barrick Gold for its stake in Acacia Mining that is framed as "best and final", becoming the second Acacia investor to publicly oppose the Canadian mining giant's buyout proposal. "Odey is not rejecting any... 

Acacia investor Odey against any 'best and final' offer from Barrick

Corruption, maladministration of royalties leave mine-affected communities high and dry

By: Tracy Hancock     14th June 2019 Maladministration and misappropriation of funds continue to render South Africa’s mining royalties system mostly ineffective, with no one being brought to book. Established to deliver transformation in impoverished, mining-affected communities through the distribution of royalties paid by the... 

Corruption, maladministration of royalties leave mine-affected communities high and dry

Iron-ore, gold surge propel South African miners to 11-year high

By: Bloomberg     13th June 2019 The twin tailwinds of rallying iron-ore prices and gold’s haven appeal have driven South African mining stocks to an almost 11-year high. Johannesburg’s FTSE/JSE Africa Mining Index gained as much as 2% Thursday to the highest since July 2008. Anglo American, BHP Group and AngloGold Ashanti have... 

Majority of planned upgrades at Edenville’s Tanzania project completed

By: Simone Liedtke     13th June 2019 The majority of the planned plant upgrades at Aim-listed Edenville Energy’s flagship Rukwa coal project, in Tanzania, have been completed, the company reported on Thursday. One of the key upgrades was further modifications to the pre-screen, which had been installed in January 2019. 

Zambian President threatens to fine miners who break law

By: Reuters     13th June 2019 Zambia will fine and break ties with mining firms that fail to operate according to the southern African country's laws, President Edgar Lungu said on Thursday, escalating a dispute with India-listed Vedanta. Vedanta is fighting Zambia's decision last month to name a provisional liquidator to run... 

Mining production remains depressed in April, but mineral sales increase

By: Tasneem Bulbulia     13th June 2019 Mining production decreased by 1.5% year-on-year in April, Statistics South Africa (Stats SA) data revealed on Thursday. The largest negative contributors were gold, at -19.5%, and contributing -2.7 percentage points; iron ore, at -11.9%, and contributing -1.7 percentage points; and chromium ore,... 

Vedanta denies sabotaging KCM operations 

By: Marleny Arnoldi     13th June 2019 Diversified miner Vedanta Resources on Thursday denied allegations of the company’s involvement in “certain problems” being experienced at its Konkola Copper Mines (KCM) operations, in Zambia. This comes amid court proceedings launched by the State to have KCM wound up.  

Sarama resumes exploration activities at South Houndé

By: Tasneem Bulbulia     13th June 2019 West Africa-focused gold explorer and developer Sarama Resources has restarted exploration activities at its South Houndé project in Burkina Faso, with a focus on oxide targets. This restart follows the recent agreement to terminate the company’s earn-in agreement with Acacia Mining. 

Platinum mine truck being converted to run on hydrogen 

By: Martin Creamer     13th June 2019 Early research and development work has begun to pave the way for the introduction of hydrogen fuel cell electric trucking at a local platinum mine, Mining Weekly Online can today report. A truck is currently being converted to run on hydrogen, which will initially be brought to the mine in tankers. 

Platinum mine truck being converted to run on hydrogen
Inner workings of platinum-catalysed hydrogen fuel cell

Azumah raises cash for Wa

By: Esmarie Iannucci     13th June 2019 Explorer Azumah Resources is hoping to raise A$2-million through a share purchase plan (SPP) to progress its Wa gold project, in Ghana. The company on Thursday announced that eligible shareholders would be able to subscribe for up to A$15 000 of new shares under the SPP, with the shares to be... 

Resources Watch 

13th June 2019 Junior mining badly in need of kickstart And, Manganese poised to make its mark as EV metal 

Resources Watch
Resources Watch

SA's EV opportunity, Tshipi-South32 agreement  

13th June 2019 This week Mining Weekly editor Martin Creamer unpacks South Africa’s opportunity in platinum and manganese, the electrification of taxi fleets and the Tshipi and South32 agreement.   

SA's EV opportunity, Tshipi-South32 agreement
SA's EV opportunity, Tshipi-South32 agreement

World's top platinum miners brace for ‘substantial’ wage demands 

By: Bloomberg     13th June 2019 South African platinum producers are preparing for significant wage demands as workers eye windfall earnings from a rally in metal prices. The Association of Mineworkers and Construction Union is meeting its members across the country’s so-called Platinum Belt this week, before presenting demands... 

World's top platinum miners brace for ‘substantial’ wage demands

Commentators differ on impacts of DRC’s revised Mining Code 

By: Simone Liedtke     12th June 2019 Ivanhoe Mines Democratic Republic of Congo operations MD Louis Watum says the country’s new Mining Code has created uncertainty regarding the regulatory framework within the country, which has negatively impacted on funding in the DRC’s mining industry. The revised Mining Code seeks to benefit... 

Afarak idles two Mogale furnaces amid electricity supply, price challenges  

By: Marleny Arnoldi     12th June 2019 LSE- and Nasdaq-listed specialist alloy producer Afarak has decided to idle the two submerged arc furnaces at its Mogale Alloys processing facility, in Krugersdorp, South Africa. “The business environment in South Africa, with the irregular availability and the high cost of energy has... 

Oil demand signals are flashing red as price dives toward $50

By: Bloomberg     12th June 2019 Oil demand is shriveling as the trade war between the US and China trips up the global economy. Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley. Indicators including the profit from... 

IronRidge acquires full ownership of Vavoua portfolio in Côte d'Ivoire

By: Simone Liedtke     12th June 2019 Aim-listed IronRidge Resources has completed the acquisition of 100% of the share capital of each of the Vavoua projects, giving it full ownership of a further highly prospective gold exploration portfolio in Côte d'Ivoire. The consideration and transfer of full ownership of the Vavoua projects... 

KCM plans to restart smelter on June 22

By: Reuters     12th June 2019 Konkola Copper Mines (KCM), owned by Vedanta Resources, plans to restart its Nchanga smelter on June 22, the company said on Wednesday. KCM said the Nchanga smelter, near Zambia's border with the Democratic Republic of Congo, had been idle pending availability of concentrates. 

Galileo mulls rare earths production amid possible Chinese export ban

By: Marleny Arnoldi     12th June 2019 Amid a looming global rare earth supply shortage, Aim-listed Galileo Resources is considering the options for its 34%-owned Glenover rare earth/phosphate project, in Limpopo, South Africa. The company stated in a release issued on Wednesday that, should China stop exports of rare earth minerals... 

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