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Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn 

By: Terence Creamer     22nd May 2019 Energy and chemicals group Sasol, which announced another large increase in the capital cost of its Lake Charles Chemicals Project (LCCP) being built in the US, will accelerate its $2-billion noncore asset disposal programme and will used the proceeds to deleverage its balance sheet. Joint... 

Sasol to accelerate $2bn asset disposal plan as capex on US project leaps by another $1.3bn
Photo by Creamer Media
Joint presidents and CEOs Bongani Nqwababa and Stephen Cornell

Nersa to host workshop to clarify licensing process for small-scale power plants 

By: Terence Creamer     22nd May 2019 The National Energy Regulator of South Africa (Nersa) says it will, in due course, host a stakeholder workshop in order to provide clarity on the processes it will follows, as well as information it requires, in order to register or licence small-scale embedded generators (SSEGs). In a statement... 

Nersa to host workshop to clarify licensing process for small-scale power plants

Eskom keeps investors in the dark as debt speculation mounts 

By: Bloomberg     22nd May 2019 As speculation swirls about plans to deal with Eskom Holdings’ crippling debt load, one group of stakeholders hasn’t been consulted – owners of the company’s R243-billion of bonds. South Africa’s State-owned power utility is groaning under almost R500-billion of bond and loan debt, according to... 

LSE says, hello, Africa! Come list with us

By: Bloomberg     22nd May 2019 It’s not often that the LSE comes to Africa looking for listings. Traditionally companies based on the continent have to make a strong case to have their stock traded on one the world’s biggest bourses. But this week, officials are on roadshow in a bid to boost the LSE’s 115 African listings. The... 

Barrick bids for rest of Acacia as Tanzania refuses direct settlement  

By: Mariaan Webb     22nd May 2019 Toronto-headquartered Barrick Gold has presented a proposal to its London-listed subsidiary Acacia Mining to buy the rest of the shares in the miner that it does not already own for $285-million. The share-for-share exchange of 0.153 Barrick shares for each ordinary share of Acacia implies a... 

Barrick bids for rest of Acacia as Tanzania refuses direct settlement

Hudbay is said to prepare sale of Arizona copper mine stake

By: Bloomberg     22nd May 2019 Hudbay Minerals is preparing a sale of a stake in one of the largest copper mines under development in the US as an investor pushes the company to review its portfolio, people familiar with the matter said. The Toronto-based base metals miner has interviewed potential advisers about selling a... 

Vedanta seeks urgent meeting over its besieged Zambian unit

By: Bloomberg     22nd May 2019 Vedanta Resources is seeking an urgent meeting with Zambian President Edgar Lungu over the threat to its local assets after a state-owned investment company asked the Lusaka High Court to liquidate them. Lungu at the weekend accused Konkola Copper Mines of lying and cheating and said Africa’s... 

Gordhan says mining firms must reverse job cuts

By: Bloomberg     22nd May 2019 South Africa’s mining companies must reverse recent decisions to cut jobs in the industry to help revive the economy and boost investor confidence, according to Public Enterprises Minister Pravin Gordhan. His comments come a day after Lonmin said it plans to cut 4 100 workers at platinum mines... 

Tanzania says to start cancelling inactive mining licences

By: Reuters     22nd May 2019 Tanzania will start cancelling inactive mining exploration licences and distribute the acreage to artisanal miners who are able to immediately commence activity in the area, a minister said on Tuesday. Deputy minister for minerals, Stanslaus Nyongo, told parliament he had issued an order that... 

Minerals Council, fuel cell cost, Zim beneficiation make headlines  

22nd May 2019 This week, the Minerals Council South Africa reflects on the promise of the future, a new material may bring down the fuel cell cost curve, and a smelter in Zimbabwe heeds the local beneficiation call. Mining Weekly editor Martin Creamer unpacks the headlines.   

Minerals Council, fuel cell cost, Zim beneficiation make headlines

Tethyan to redomicile from UK to Canada

By: Creamer Media Reporter      22nd May 2019 Serbia-focused Tethyan Resources has announced that it will redomicile the company from England and Wales to British Columbia, Canada, to avoid the UK stamp duty tax. The UK stamp duty tax – a tax of 0.5% payable to HM Revenue and Customs Stamp Office – is unfamiliar to many investors that... 

Fortescue approves $287m Queens Valley development

By: Esmarie Iannucci     22nd May 2019 Iron-ore miner Fortescue Metals has approved a $287-million spend on the Queens Valley mine area, at its Solomon Hub in the Pilbara. The development of Queens would maintain the production of the low alumina Kings Fines product, and was consistent with the company’s strategy of optimising... 

BHP keen on more copper, nickel sulphide and oil

By: Esmarie Iannucci     22nd May 2019 Mining major BHP on Wednesday laid out its near-term plans for investors, saying that the company would look to add “options” in copper, nickel sulphides and oil. Speaking to investors, CFO Peter Beaven that BHP analysed a number of scenarios to ensure that the company’s portfolio was resilient... 

BHP keen on more copper, nickel sulphide and oil

Glencore and First Cobalt team up to restart refinery

By: Esmarie Iannucci     22nd May 2019 Diversified miner Glencore has thrown its support behind the restart of dual-listed First Cobalt’s refinery in Ontario. The two companies have signed a memorandum of understanding (MoU) to supply cobalt feedstock and financing to recommission the First Cobalt refinery, with First Cobalt and... 

Qld Premier ‘sick’ of Adani delays

By: Esmarie Iannucci     22nd May 2019 Queensland Premier Annastacia Palaszczuk has instructed the Coordinator-General to set a timetable for the resolution of two outstanding approvals for Indian major Adani’s proposed Carmichael coal mine, saying she was “sick” of the delays. “The community is sick of it, I’m sick of it, everyone... 

Lithium Australia declares vanadium resource

By: Esmarie Iannucci     22nd May 2019 ASX-listed Lithium Australia has reported a maiden vanadium resource of 185-million tonnes, at 0.33% vanadium oxide for its Youanmi project, in Western Australia. Lithium Australia said that the maiden resource estimate comprised an oxide resource o 96-million tonnes, at 0.34% vanadium oxide,... 

Neometals updates vanadium DFS at Barrambie

By: Esmarie Iannucci     22nd May 2019 A revised definitive feasibility study (DFS) into the Barrambie vanadium/titanium/magnetite project, has confirmed a vanadium production pathway, with owner Neometals now hoping to focus on extracting value from the titanium resource. The revised DFS estimated that Barrambie, in Western... 

Consolidated Tin Mines adds to war chest

By: Esmarie Iannucci     22nd May 2019 Junior Consolidated Tin Mines has raised an additional A$4-million through a share placement to a new international investor. The placement to Chinese investor Tiesong Duan was in addition to the placement to Wealth Pointer Global, which took place in April this year and raised A$20.99-million.  

Alcoa considering tourism for Anglesea site

By: Esmarie Iannucci     22nd May 2019 Aluminium major Alcoa and a UK-based educational and environmental charity, The Eden Project, have teamed up to investigate the possibility of turning Alcoa’s former Anglesea mine site, in Victoria, into a tourist attraction. The two companies were planning to transform an area within the former... 

Vanggatfontein to ramp up to full output two weeks ahead of schedule

By: Tasneem Bulbulia     22nd May 2019 JSE-listed Wescoal on Wednesday said it had resumed coal mining, handling and processing activities at the Vanggatfontein mine as of May 20 and that the mine was expected to ramp-up to full production in early June – two weeks ahead of schedule. In late April, the coal producer was forced to halt... 

Young consumers, self-buying to boost platinum jewellery demand

By: Tasneem Bulbulia     22nd May 2019 Young consumers, men’s jewellery and female self-purchasing will build on platinum’s entrenched standing in bridal jewellery to drive future demand, Platinum Guild International (PGI) reports. The guild’s yearly ‘Platinum Jewellery Business Review’ surveys over 1 000 manufacturers and retailers,... 

Equinox Gold sells Elk Gold property

By: Creamer Media Reporter      22nd May 2019 TSX-V-listed Equinox Gold has sold its Elk Gold property, in British Columbia, to private explorer Bayshore Minerals for $10-million. The company will receive $1-milion in cash on closing of the sale and $9-million in a first ranking secured promissory note payable in yearly installments of... 

Zimbabwe mine output subdued in first quarter as dollar crunch bites

By: Reuters     22nd May 2019 Zimbabwe's mining sector was subdued in the first quarter due to a severe dollar crunch that affected production, with gold the most hit, the mining chamber said, adding some bullion miners had experienced recently introduced power cuts. Mining generates most of the export earnings for the... 

AfriTin secures £4.7m to bring Uis Phase 1 into production

By: Tasneem Bulbulia     22nd May 2019 Aim-listed AfriTin Mining has secured additional financing that will enable it to bring the Phase 1 pilot plant at its flagship Uis tin mine, in Namibia, into production. The company raised about £3-million through the issue of 99.61-million ordinary shares. 

Minerals Council welcomes Merafe Resources CEO as VP

By: Nadine James     22nd May 2019 The Minerals Council South Africa has added Merafe Resources CEO Zanela Matlala as a VP. This was announced at the council’s annual general meeting, on Wednesday, during which it was confirmed that Anglo American South Africa executive head Andile Sangqu and Sibanye-Stillwater CEO Neal Froneman... 

Minerals Council welcomes Merafe Resources CEO as VP
Photo by Creamer Media's Dylan Slater
Andile Sangqu, Roger Baxter, Mxolisi Mgojo, Neal Froneman and Steve Phiri

Mining sector facing similar ‘bullying tactics’ to that hindering construction 

By: Nadine James     22nd May 2019 Similar “bullying tactics” to those that are causing significant disruption in the South African construction industry, is also affecting the mining industry, Minerals Council South Africa CEO Roger Baxter confirmed on Wednesday. In a media briefing following the council’s annual general meeting... 

Mining sector facing similar ‘bullying tactics’ to that hindering construction
Photo by Creamer Media's Dylan Slater
Minerals Council CEO Roger Baxter

Jupiter Gold set to become cash flow positive

By: Tasneem Bulbulia     22nd May 2019 Gold royalty company Jupiter Gold on Wednesday reported that its first royalty project, the Pindaíba project, operated by Brazil Minerals, was expected to begin production in the third quarter of 2019. The company’s gold recovery plant would be used in operations and Jupiter Gold would receive a... 

Mining fatalities among ICMM member companies decrease again

By: Marleny Arnoldi     22nd May 2019 International Council on Mining and Metals (ICMM) member companies recorded 50 fatalities in 2018, compared with the 51 recorded in 2017 and the 63 recorded in 2016. Eleven of ICMM’s 27 member companies reported no fatalities in 2018, compared with eight in 2017. These companies were Africa... 

Mining fatalities among ICMM member companies decrease again

Minerals Council welcomes safety improvements, but warns of continuing policy concerns 

By: Nadine James     22nd May 2019 The Minerals Council South Africa will, later this year, launch a new health and safety initiative called Khumbela iKhaya, council chaiperson Mxolisi Mgojo revealed on Wednesday. Addressing the council's annual general meeting, he noted that appreciable improvements in the health and safety... 

Minerals Council welcomes safety improvements, but warns of continuing policy concerns
Photo by Creamer Media's Dylan Slater
Minerals Council chairperson Mxolisi Mgojo

Industrialisation to help South Africa’s mining cluster compete globally

By: Simone Liedtke     22nd May 2019 If industrialization is done properly through advancing the South African mining cluster and using the sector as a driver for industrialisation, the sector has huge potential to operate not only at scale but also to compete in the world market, says Minerals Council South Africa chief economist... 

Industrialisation to help South Africa’s mining cluster compete globally
Photo by Creamer Media's Simone Liedtke
Independent consultant Dr Paul Jourdan

Gold miners must focus on returns, mergers to attract investment - Barrick CEO

By: Reuters     Updated 4 hours ago Gold miners must focus on maximising returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday. "The industry is in decline and we have put ourselves in a very a tight spot because we haven't... 

Gold miners must focus on returns, mergers to attract investment  - Barrick CEO
Barrick Gold CEO Mark Bristow

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