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Popular This Week

Eskom CEO resigns for health reasons

By: Reuters     26th May 2019 The chief executive of South Africa’s struggling power utility Eskom, Phakamani Hadebe, said on Friday he was stepping down for health reasons after leading efforts to stabilise the highly indebted state firm. Eskom is regularly cited by ratings agencies as one of the main threats to the... 

Eskom CEO resigns for health reasons
Phakamani Hadebe

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

Zambian court appoints provisional liquidator of Vedanta's KCM 

By: Reuters     21st May 2019 Zambia's High Court on Tuesday appointed a legal firm as a provisional liquidator of Vedanta-controlled Konkola Copper Mines (KCM), according to a court document seen by Reuters. The document named Zambian law firm Lungu Simwanza & Company to oversee KCM a day after the president said Zambia... 

Zambian court appoints provisional liquidator of Vedanta's KCM

Minister publishes amendments to financial provisioning regulations for mine closure  

By: Nadine James     21st May 2019 Environmental Affairs Minster Nomvula Mokonyane has gazetted additional amendments to the Financial Provisioning Regulations for the rehabilitation and remediation of environmental damage caused by exploration and/or mining activity. The regulations stipulate the manner in which mining... 

Minister publishes amendments to financial provisioning regulations for mine closure

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

Researchers see manganese helping fuel cells down cost curve 

By: Martin Creamer     20th May 2019 A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate... 

Researchers see manganese helping fuel cells down cost curve
Hydrogen fuel cell cars use hydrogen and oxygen to generate electricity with the help of platinum.

Zambia files 'notification' of plans to take over Vedanta assets

By: Bloomberg     20th May 2019 Zambia’s government filed notification of plans to take over Vedanta Resources’s domestic copper assets, President Edgar Lungu said. The move marks an escalation in tension between the government and mine owners, after Lungu last week threatened to “divorce” Vedanta and Glencore, two of the... 

Lonmin plans to cut 4 100 workers as it closes platinum mines

By: Bloomberg     21st May 2019 Lonmin plans to cut 4 100 workers at mines that have run out of profitable ore and are being closed. The platinum producer has started a process that’s required under South African labour law to carry out the workforce reductions, said Wendy Tlou, a spokesperson for the company. The layoffs will... 

BHP polishes EV penetration forecast

By: Esmarie Iannucci     21st May 2019 Mining major BHP has polished its forecast for the uptake of electric vehicles (EVs) and what impact the shift to electric mobility will have on the copper and oil markets over the coming decades. The diversified mining company, which last week reaffirmed its commitment to supply the EV markets,... 

BHP polishes EV penetration forecast

Use remote machinery to mine at depth ­– Jourdan 

By: Martin Creamer     23rd May 2019 Independent consultant Dr Paul Jourdan on Thursday called on South Africa to cease sending people down dangerous deep-level mines and introduce remote machinery to mine at depth. He was speaking at the Southern African Mining Supply Chain Conference and Strategy Workshop, which was hosted by the... 

Use remote machinery to mine at depth ­– Jourdan
Photo by Creamer Media
Dr Paul Jourdan at the SA Mining Supply Chain Conference.

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... 

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

By: Reuters     22nd May 2019 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

SolGold announces PEA results for Alpala

By: Mariaan Webb     20th May 2019 LSE- and TSX-listed SolGold on Monday published the results of a preliminary economic assessment (PEA) for the Alpala copper/gold/silver deposit at the Cascabel project, in northern Ecuador. The study estimated a “low” start-up capital expenditure of $2.4-billion to $2.8-billion and a “high” net... 

SolGold announces PEA results for Alpala

PIC goes to London for Lonmin decision 

By: Bloomberg     23rd May 2019 South Africa's Public Investment Corporation (PIC) faces a tough choice: back Sibanye Gold’s takeover of Lonmin, and take a hit on its investment, or scupper the deal and risk having to pony up more cash for the platinum miner. When Lonmin shareholder votes are tallied next Tuesday at a meeting... 

PIC goes to London for Lonmin decision

Zimbabwe awards platinum concession to firm linked to Nigerian billionaire

By: Reuters     23rd May 2019 Zimbabwe has awarded a concession to explore for and mine platinum to a company linked to a Nigerian billionaire as the country speeds up investment in a mining sector it hopes will transform the country's struggling economy. The concession comes just over a year after President Emmerson... 

BBBEE Commission says most broad-based schemes failing ‘ownership test’ 

By: Terence Creamer     21st May 2019 The regulatory body overseeing the implementation of South Africa’s broad-based black economic empowerment (BBBEE) legislation has dismissed suggestions that changes have been made to the rules governing the treatment of trusts and other broad-based structures under the ownership element of the... 

BBBEE Commission says most broad-based schemes failing ‘ownership test’

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

Sibanye keeps option to increase Lonmin offer against rival bid 

By: Bloomberg     20th May 2019 Sibanye Gold reiterated that its increased offer for Lonmin Plc is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge. While its current offer “is final and will not be increased", the company “reserves the right to set aside the no increase... 

Amplats dismisses half of Mototolo’s underground employees amid unprotected strike 

By: Simone Liedtke     20th May 2019 Platinum miner Anglo American Platinum, headed by Chris Griffith, has dismissed half of the Mototolo mine’s underground employees amid an unprotected strike, but has given the dismissed employees until May 21 to appeal the decision. Employees at the mine affiliated with the General Industrial... 

Amplats dismisses half of Mototolo’s underground employees amid unprotected strike
Photo by Creamer Media
Amplats CE Chris Griffith

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

Lynas to set up plant in WA as it abandons plans for Malaysia facility

By: Esmarie Iannucci     21st May 2019 Rare earths miner Lynas on Tuesday told shareholders that it would relocate a planned processing facility from its Kuantan operations in Malaysia, to its operations in Western Australia. Speaking at an investor conference, CEO and MD Amanda Lacaze noted that the cracking and leaching facility... 

Lynas to set up plant in WA as it abandons plans for Malaysia facility

Mining Charter III provisions seen by some as too onerous for junior miners 

By: Nadine James     24th May 2019 There should be a new regulatory regime for juniors – one that adheres to the spirit of Mining Charter 3, but which introduces reasonable and achievable transformation and procurement targets relative to the size and financial constraints of junior and emerging miners, says Eversheds Sutherland... 

Mining Charter III provisions seen by some as too onerous for junior miners

NPA starts prosecution of Aurora directors 

By: Marleny Arnoldi     23rd May 2019 Organisation Undoing Tax Abuse (Outa) on Thursday announced that the National Prosecuting Authority (NPA) would start its prosecution of the former directors of Aurora Empowerment Systems on May 28. A summons had been issued in March related to environmental and water transgressions at the... 

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... 

Zambia's Chamber of Mines warns of 'drastic' fall in copper output

By: Reuters     23rd May 2019 Zambia's 2019 copper output could be as much as 100 000 t lower than last year as changes to mining tax drive miners to cut production, the Chamber of Mines said on Thursday. "Present forecasts are that copper production, both concentrate and finished copper, will now be drastically lower than... 

Barrick's buyout offer for Acacia unit irks minority shareholders

By: Reuters     23rd May 2019 Barrick Gold's proposal to take full control of its Acacia Mining Plc unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Barrick's offer values Acacia at $787-million, a near 11% discount to its... 

Barrick's buyout offer for Acacia unit irks minority shareholders

Vale's Gongo Soco mine dam has up to 15% chance of bursting -Brazil official

By: Reuters     21st May 2019 Brazilian miner Vale's tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state's environment secretary said on Monday. The dam at Vale's Gongo Soco mine is about 64 km from Brumadinho, where a tailings dam collapse unleashed a torrent of toxic... 

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... 

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

Zimbabwe got loan from Afreximbank using platinum collateral

By: Bloomberg     21st May 2019 Zimbabwe secured a $500-million loan from the African Export-Import Bank to try and stabilize its currency market by offering platinum production as collateral, a person familiar with the details of the agreement said. The Reserve Bank of Zimbabwe on Saturday announced on Twitter that the money... 

Zambia's mines minister orders regular audits at all mines

By: Reuters     24th May 2019 Zambia will carry out regular audits at all mines to avoid any repeat of the situation at Vedanta unit Konkola Copper Mines (KCM), which has breached the terms of its licence, the mining ministry said on Thursday. Zambian President Edgar Lungu said on Monday the government planned to strip KCM of... 

Zambia's mines minister orders regular audits at all mines

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

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... 

Vedanta-Konkola liquidation case adjourned to June 4

By: Reuters     24th May 2019 A court hearing between Vedanta, its Konkola Copper Mines business (KCM) and the Zambian government over control of KCM, was adjourned on Friday until June 4, a lawyer said. Vedanta is fighting the government's attempt to seize KCM, which is one of the biggest employers in Zambia, Africa's second... 

Vedanta-Konkola liquidation case adjourned to June 4

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... 

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

Bank says Lonmin investors should reject Sibanye offer  

By: Bloomberg     24th May 2019 Africa’s biggest bank said Lonmin investors should reject Sibanye-Stillwater's takeover offer as it undervalues the platinum miner’s assets by as much as R6.64-billion. While Sibanye’s offer equates to R11.60 a share, Lonmin’s value at current metal prices is 45% higher, Leroy Mnguni, an analyst... 

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