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Africa News

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... 

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... 

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... 

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