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Africa News

Xolobeni community asks Ramaphosa to stop Mantashe's upcoming visit

By: African News Agency      23rd April 2019 The Amadiba Crisis Committee on Monday asked President Cyril Ramaphosa and "democratic institutions" to stop Mines Minister Gwede Mantashe from visiting Xolobeni, where there is a raging dispute over keeping the area pristine versus allowing mining activities to go ahead. Mantashe's last visit to... 

Anglo stalwart appointed Pensana CEO  

By: Esmarie Iannucci     23rd April 2019 ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American’s operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed... 

Ma’aden to acquire Phatisa’s controlling shareholding in Meridian Group

By: Marleny Arnoldi     23rd April 2019 Private equity fund manager Phatisa has reached an agreement with mining and metals company Ma’aden on the sale of its controlling shareholding in Meridian Group. Meridian is a prominent African agricultural inputs business, which distributes about 500 000 t/y of fertiliser across Malawi,... 

Congo-Brazzaville ships first iron-ore ahead of expected production boom

By: Reuters     23rd April 2019 Congo-Brazzaville shipped its first iron-ore exports on Friday ahead of an expected boom in production from mines owned by Congolese billionaire Paul Obambi's Sapro and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko... 

De Beers COO Nancy Liu to lead Forevermark

By: Marleny Arnoldi     23rd April 2019 Diamond miner De Beers Group has appointed its COO Nancy Liu CEO of its Forevermark brand. She succeeds Stephen Lussier, who remains De Beers group executive for consumer, brands VP and now also Forevermark chairperson.  

De Beers COO Nancy Liu to lead Forevermark
Forevermark chairperson Stephen Lussier

South Africa brings forward Eskom bailout to avert default

By: Reuters     23rd April 2019 South Africa's government has had to bring forward the bailout of state power firm Eskom, after it rushed R5-billion to the struggling utility earlier this month to avert a default and said more cash could be needed soon. Eskom supplies more than 90% of electricity in Africa's most advanced... 

South Africa brings forward Eskom bailout to avert default

Anglo steps up defense to repel Agarwal's interest – Telegraph 

By: Bloomberg     23rd April 2019 Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he... 

Russian, Angolan diamond groups sign MoU

By: Rebecca Campbell     19th April 2019 Russia’s predominantly State-owned global diamond mining major Alrosa and Angola’s State-owned national diamond mining company Endiama signed a Memorandum of Understanding (MoU) early this month. This marks the latest stage in the development of the relationship between the two entities, which... 

Roxgold to start drilling at newly acquired Séguéla

By: Marleny Arnoldi     18th April 2019 TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth... 

Orion reawakening geological giant in Northern Cape  

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Orion reawakening geological giant in Northern Cape
Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

Petra recovers 209.9 ct diamond at Cullinan

By: Creamer Media Reporter      18th April 2019 Petra Diamonds on Friday recovered a 209.9 ct D-colour Type II gem-quality diamond at its Cullinan diamond mine, in South Africa. This is the third Type II D-colour gem-quality diamond weighing more than 100 ct recovered since March and the fourth such diamond recovered in the current financial... 

Barrick's quarterly performance in line with operating plan

By: Mariaan Webb     18th April 2019 Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating... 

Barrick's quarterly performance in line with operating plan

LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Sasol reports stabilisation in synfuels output  

By: Terence Creamer     18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... 

Sasol reports stabilisation in synfuels output

Mantashe, Oliphant welcome end to Sibanye-Stillwater gold strike

By: Simone Liedtke     18th April 2019 Mineral Resources Minister Gwede Mantashe and Labour Minister Mildred Oliphant have welcomed the end of the Association of Mineworkers and Construction Union’s five-month strike at Sibanye-Stillwater’s gold operations. The parties announced the resolution of their differences on Wednesday. 

Shanta achieves strong first-quarter performance

By: Tasneem Bulbulia     18th April 2019 East Africa-focused gold producer Shanta Gold had a strong start to 2019 – with the quarter ended March 31 having been its best opening quarter in three years in terms of production. Its costs were also well below guidance. 

Resolute inks new mining convention in Mali

By: Esmarie Iannucci     18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... 

South32 coking coal output down 37%, energy coal hit by community protests  

By: Esmarie Iannucci     18th April 2019 Diversified miner South32 has lowered its energy coal and alumina production expectations for the full year, following a tough March quarter. Energy coal production for the quarter declined by 1% on the previous quarter, to 6.3-million tonnes, while metallurgical coal production was down 37% to... 

South32 coking coal output down 37%, energy coal hit by community protests
South32 CEO Graham Kerr

Majority of B2Gold’s mines outperform guidance in strong first quarter

By: Nadine James     18th April 2019 TSX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold. The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines,... 

Capital Drilling poised to meet growing demand for drilling services

By: Tasneem Bulbulia     18th April 2019 Africa-focused Capital Drilling continues to be well positioned for an anticipated uplift in demand, especially in West Africa. “At this early stage of the year, we have already seen some encouraging signs in the market, with robust metals prices, particularly gold, and improving capital markets. 

Glencore’s Jeff Gerard appointed Katanga CEO

By: Simone Liedtke     18th April 2019 TSX-listed Katanga Mining, a unit of Glencore, on Thursday announced that Glencore International’s Jeff Gerard would succeed Danny Callow as CEO of the company, effective May 2. Gerard’s appointment follows the signing of a management services agreement between Katanga and Glencore in January.... 

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke     18th April 2019 Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. 

Mick Davis moves closer to iron-ore mining with Liberian deal  

By: Bloomberg     18th April 2019 Mining dealmaker Mick Davis has won permission to export iron-ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback. Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron-ore... 

Mick Davis moves closer to iron-ore mining with Liberian deal
Photo by Bloomberg
Mick Davis

Goldcorp and Newmont successfully create gold behemoth

By: Creamer Media Reporter      18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... 

Mining sector’s pursuit of ‘zero harm’ continues

By: Simone Liedtke     18th April 2019 The South African mining industry has continuously recommitted to the shared aspiration of zero harm, which aims to ensure that mineworkers return home from work unharmed every day. While there was an 86% decline in the number of fatalities from 1994 to 2016, the death of 90 mineworkers marked a... 

Mining sector’s pursuit of ‘zero harm’ continues

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Kibo appoints Wimmer as adviser for African project financing

By: Tasneem Bulbulia     17th April 2019 Kibo Energy has signed a corporate finance engagement letter with Wimmer Financial, which will advise Kibo on and manage all aspects related to the structuring and provision of a project finance corporate credit line facility of up to $900-million which could form part of a broader funding... 

Zimbabwe attracts two new investors to develop platinum mining projects 

By: Reuters     17th April 2019 Zimbabwe will in coming weeks name two new investors who will develop separate platinum mining projects west of the capital as the country ramps up mining output in an attempt to ease a severe dollar shortage, the mines minister said on Wednesday The southern African nation has the second largest... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

Royal Bafokeng boosts production despite setbacks 

By: Martin Creamer     17th April 2019 Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t.... 

Moroccan miner Managem considering raising $200m in bond sales

By: Reuters     17th April 2019 Morocco's leading mining firm Managem says it is considering raising $200-million through the sale of nonconvertible bonds with a maturity of up to seven years, to fund its development plans. The terms of the issuance will have to be approved by its general assembly on May 6, Managem said in a... 

Altus defines further prospect at Mali gold project

By: Marleny Arnoldi     17th April 2019 Aim- and TSX-V-listed Altus Strategies has defined a further significant prospect at its Diba gold project, in Mali. "Our detailed review of Diba's historical data, as reported on February 4, identified multiple priority drill targets including a 1.85-km-long anomalous zone adjacent to the... 

Galileo raises £500 000 for Zambia zinc project

By: Creamer Media Reporter      17th April 2019 Aim-listed Galileo Resources has raised £500 000 through the placing of 100-million new shares at a price of 0.5p a share. The proceeds will be used for general working capital, as well as for advancing its Star Zinc project, in Zambia. Specifically, the company plans to use the proceeds to... 

Miners behind pre-poll South African stock rally not done yet

By: Bloomberg     17th April 2019 South African mining stocks have had their best start to the year since 2016 and there’s every chance they are not done yet. The FTSE/JSE Africa Mining Index has gained 22% as of April 16 and is close to an eight-year high, helping South Africa’s benchmark gauge advance 12% as investors show few... 

Premier terminates KME Plant, Honey Badger transactions

By: Simone Liedtke     17th April 2019 Aim-listed Premier African Minerals on Wednesday said it would not proceed with the proposed conditional acquisitions of 50% of the KME Plant and 50% of the equity in Honey Badger Resources (HBR), until there is some finality on the RHA Tungsten mine’s future. As a result, both transactions with... 

Eskom CEO says 'days of surprises' over as problems exposed 

By: Bloomberg     17th April 2019 Almost 15 months into the job, and the boss of South Africa’s state-owned electricity company is getting to grips with issues spanning corruption to defective power plants that threatened to collapse the grid. “The days of surprises are over,” Eskom Holdings CEO Phakamani Hadebe said in an... 

ODC unveils ‘iconic’ Okavango Blue diamond

By: Simone Liedtke     17th April 2019 Botswana-based Okavango Diamond Company on Wednesday unveiled “the biggest blue diamond discovery ever made” in Botswana – an oval-shaped blue diamond weighing in at over 20 ct. The Gemological Institute of America has graded the stone as an oval brilliant cut of 20.46 ct, with a fancy deep blue... 

ODC unveils ‘iconic’ Okavango Blue diamond

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