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Audio Articles

Marginal recovery in gold price expected this year – Metals Focus  

By: Tasneem Bulbulia     1st April 2019 Last year was challenging for the gold price, precious metals consultancy Metals Focus’ ‘Gold Focus 2019’ report, which was published on Monday, shows. Against the backdrop of a healthy US economy, strong employment and signs of US inflation picking up, most analysts expected US policy rate... 

Gold Bars
Photo by Bloomberg
Gold Bars

Atlatsa narrows basic loss for 2018 

By: Simone Liedtke     1st April 2019 TSX- and JSE-listed Atlatsa Resources Corporation on Monday announced that its basic and diluted loss a share had narrowed to $0.17 for the financial year ended December 31, 2018, compared with the loss of $0.36 reported for 2017. The basic and diluted headline loss a share was $0.16 for 2018, on... 

AngloGold to comply with South African mining rights directive  

By: Bloomberg     1st April 2019 AngloGold Ashanti is complying with an order from South Africa’s Department of Mineral Resources to amend its mining rights to reflect black economic empowerment, the company’s spokesperson Chris Nthite said. The world’s No. 3. gold producer may have contravened black economic empowerment rules... 

Platinum ETFs hit record high, palladium seen as over-bought 

By: Martin Creamer     29th March 2019 Platinum-backed exchange traded fund (ETF) holdings increased for the ninth consecutive day yesterday reaching 2.96-million ounces, the highest level on record, the BMO Metals Brief noted on Friday. The report put out by BMO Global Commodities Research addedthat ETF inflows had been strong in the... 

Platinum bar.
Photo by Bloomberg
Platinum bar.

Under Mantashe, SA mining’s narrative changes to ‘something approaching positive’ 

By: Natasha Odendaal     29th March 2019 Stability, policy and regulatory certainty and rebuilding trust have been key themes in Mineral Resources Minister Gwede Mantashe’s first year in office. Taking the reins on February 27, 2018, of a government department overseeing one of the most difficult and fragmented industries in South... 

Under Mantashe, SA mining’s narrative changes to ‘something approaching positive’

Ivanhoe eyes DRC copper mine that will be larger than Grasberg and Oyu Tolgoi 

By: Mariaan Webb     28th March 2019 Canada-headquartered Ivanhoe Mines is considering an expanded copper mining development in the Democratic Republic of Congo (DRC), which will rank the Kamoa-Kakula mine as the world’s second largest after the giant Escondida mine of BHP and Rio Tinto in Chile. At an expanded production rate of... 

Ivanhoe eyes DRC copper mine that will be larger than Grasberg and Oyu Tolgoi

Exxaro unveils new ultramodern headquarters  

By: Martin Creamer     28th March 2019 South Africa’s largest coal producer and black-empowered coal company Exxaro has unveiled its new ultramodern headquarters. The conneXXion, in Centurion, has e-parking bays for employees to charge their electric or hybrid vehicles while they work, and attractive central staircases to encourage... 

New Exxaro headquarters
New Exxaro headquarters

ENRC sues UK fraud cops as corruption charges loom 

By: Bloomberg     27th March 2019 A Kazakh mining company sued the UK’s anti-fraud authority for $93-million – the amount it has racked up in legal costs – as the agency moves closer to a decision on whether to charge one of its billionaire owners. Eurasian Natural Resources Corp claims the SFO colluded with the company’s own... 

The great diamond shortage that never was is likely coming soon  

By: Bloomberg     27th March 2019 For more than 15 years, the diamond industry has been telling the world about a looming shortage of gems. Instead, demand has been stubbornly underwhelming, and the miners have done a wonderful job of digging more and more stones. But the pain may soon be over for an industry that’s being... 

The great diamond shortage that never was is likely coming soon

Exciting DRDGold expertise deserves international prominence – Froneman 

By: Martin Creamer     27th March 2019 The exciting gold-from-tailings expertise of DRDGold, which has decades of experience in recovering precious metals profitably from mine dump material, deserves international prominence which Sibanye-Stillwater intends to afford it, CEO Neal Froneman said on Wednesday. Froneman drew attention to... 

Sibanye-Stillwater CEO Neal Froneman with Joburg Indaba chairperson Bernard Swanepoel
Photo by Wynand van der Merwe
Sibanye-Stillwater CEO Neal Froneman with Joburg Indaba chairperson Bernard Swanepoel

Bushveld Energy commissions first VFRB project  

By: Marleny Arnoldi     27th March 2019 Aim-listed Bushveld Minerals on Wednesday announced that its 84%-owned subsidiary Bushveld Energy had commissioned a vanadium redox flow battery (VFRB) project with Eskom, including site acceptance testing. At completion, the unit will have a peak output of 450 kWh.  

Minerals Council appeals some Mining Charter 3 provisions, DMR responds 

By: Marleny Arnoldi     27th March 2019 The Minerals Council South Africa has filed an application for the judicial review and setting aside of certain clauses of Mining Charter 3, which was published in September. The decision follows after the council’s board engaged in ongoing attempts to reach a compromise with Mineral Resources... 

Minerals Council CEO Roger Baxter
Photo by Creamer Media
Minerals Council CEO Roger Baxter

WGC opens consultations on draft Responsible Gold Mining Principles 

By: Nadine James     26th March 2019 Gold industry market development organisation, the World Gold Council (WGC), on Tuesday launched the exposure draft of its Responsible Gold Mining Principles, which establish a new framework with clear expectations for investors and downstream users as to what constitutes responsible gold mining.... 

Corruption Watch calls for enquiry into misadministration of mining royalties  

By: Nadine James     26th March 2019 Civil society organisation Corruption Watch (CW) has recommended that a commission of enquiry be established to determine the scope and degree of alleged misadministration and misappropriation of mining royalties. The organisation on Tuesday launched its ‘Improving Transparency and Accountability... 

Corruption Watch executive director David Lewis
Corruption Watch executive director David Lewis

Master Drilling’s full year performance underpinned by Americas, Europe success 

By: Marleny Arnoldi     26th March 2019 JSE-listed Master Drilling expanded its operations to Canada, Turkey, Ghana and Italy and saw growth in Brazil and Mexico during the financial year ended December 31, 2018. This helped to offset headline earnings decreases in a tough African market.  

Master Drilling CEO Danie Pretorius
Master Drilling CEO Danie Pretorius

90 000 gold and platinum jobs at risk as Eskom hikes loom 

By: Terence Creamer     25th March 2019 The Minerals Council South Africa is ringing alarm bells over the threat posed to employment and production in the gold and platinum sectors as a result of recently approved electricity tariff increases, including the 13.8% hike to be implemented from April 1. In addition, the council is warning... 

90 000 gold and platinum jobs at risk as Eskom hikes loom

Gemfields confirms $60m full-year loss 

By: Simone Liedtke     25th March 2019 JSE-listed Gemfields on Monday confirmed that it had posted a $60.4-million net loss for the year ended December 31, 2018, compared with a $45.1-million profit in 2017. As set out in a trading statement published on Friday, the group attributed the loss to impairment charges and fair value loss... 

Gemfields mulls London listing, looks back on challenging 2018 

By: Simone Liedtke     25th March 2019 JSE-listed Gemfields is considering an additional listing on the LSE during this year, without an associated capital raise, in an effort to address the lack of broker research and share trading liquidity. Paying a maiden distribution to its shareholders remains a key ambition for the miner for... 

Gemfields chairperson Brian Gilbertson
Photo by Creamer Media
Gemfields chairperson Brian Gilbertson

New signs of hope for junior miners, says Minerals Council’s Chabana 

By: Simone Liedtke     22nd March 2019 Despite the sector having been relatively unorganised and with junior mining companies rarely given an opportunity to influence national mining policy, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana believes there are “new signs of hope and... 

Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana
Photo by Creamer Media
Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana

Jubilee set to acquire Sable Zinc refinery  

By: Nadine James     22nd March 2019 Dual-listed Jubilee Metals on Friday announced that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe, Zambia. The refinery is situated immediately adjacent to the large stockpiles of zinc, lead and vanadium that Jubilee has contracted from BMR Group. 

Palladium rally is seen fading this year  

By: Bloomberg     22nd March 2019 Palladium has been one of the hottest commodities for a while now, but analysts think this year may be the time to book profits. Prices have rallied to fresh records on tighter supplies of the material mainly used in gasoline vehicle autocatalysts. But analysts surveyed by Bloomberg see the metal... 

Blanket mine delivers robust 2018 performance despite challenges  

By: Tasneem Bulbulia     20th March 2019 Caledonia Mining’s Blanket gold mine, in Zimbabwe, delivered a “robust” performance for the fourth quarter and the year ended December 31, 2018, despite the well-known challenges of operating in Zimbabwe, CEO Steve Curtis indicated in a statement on Wednesday. Curtis highlighted that the monetary... 

Labour Court declares Sibanye wage extension valid  

By: Marleny Arnoldi     20th March 2019 Precious metals miner Sibanye-Stillwater on Wednesday advised that the Labour Court has declared legal the extension of Sibanye’s wage agreement with the National Union of mineworkers (NUM), UASA and Solidarity, to non-unionised members. Sibanye extended, in December, the wage agreement to... 

Sibanye-Stillwater CEO Neal Froneman
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Oliphant urges continued commitment to diamond industry growth 

By: Simone Liedtke     20th March 2019 Mineral Resources Deputy Minister Godfrey Oliphant has urged diamond industry participants to remain committed to efforts to grow and sustain the industry in South Africa. Speaking at the South African Diamond Producers Organisation (Sadpo) conference last week, he said this would yield positive... 

Deputy Minister Godfrey Oliphant
Photo by Creamer Media
Deputy Minister Godfrey Oliphant

Palladium tops $1 600 as metal sets new highs on supply shortage  

By: Bloomberg     19th March 2019 Palladium topped $1 600/oz for the first time, and there’s little sign of the rally slowing as global supply tightens. The price of the metal – mainly used in autocatalysts in gasoline vehicles – has almost doubled from a recent low in August. Demand has remained robust as manufacturers scramble... 

Menar’s Canyon offers Eskom cheaper coal on open-book basis  

By: Martin Creamer     19th March 2019 Coal mining company Canyon Coal, a Menar group company, is prepared to offer coal to State-owned electricity utility Eskom at a cheaper price on an open-book basis from two new projects. The Menar group, which does not supply coal to Eskom at present, employs 3 500 people on a R7-billion asset... 

Menar MD and Canyon Coal executive chairperson Vuslat Bayoğlu
Menar MD and Canyon Coal executive chairperson Vuslat Bayoğlu talks to Mining Weekly Online’s Martin Creamer. Photos: Creamer Media’s Dylan Slater. Video: Nicholas Boyd

Rio Tinto must face SEC suit over Mozambique coal assets 

By: Bloomberg     19th March 2019 Rio Tinto Group must face a US Securities and Exchange Commission (SEC) lawsuit over the company’s valuation of coal assets in Mozambique, a federal judge ruled. US authorities in October 2017 filed fraud charges against London-based Rio Tinto, former CEO Tom Albanese and former CFO Guy... 

Rio Tinto former CEO Tom Albanese
Photo by Creamer Media
Rio Tinto former CEO Tom Albanese

Labour Court dismisses AMCU interdict against Sibanye restructuring 

By: Marleny Arnoldi     18th March 2019 Sibanye-Stillwater on Monday said the South African Labour Court has dismissed the application made by the Association of Mineworkers and Construction Union (AMCU) to interdict the Section 189A restructuring process at the miner’s gold operations in South Africa. Sibanye on February 14... 

Sibanye-Stillwater CEO Neal Froneman
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Bristow taking Barrick helm aids Acacia talks, Tanzania AG says  

By: Bloomberg     18th March 2019 Mark Bristow taking over the leadership of Barrick Gold facilitated negotiations with Tanzania about a multibillion-dollar tax dispute that could be resolved by May, the country’s attorney general said. Barrick unit Acacia Mining has been at odds with Tanzania’s government since July 2017, when... 

Wesizwe to scale back Bakubung’s output 

By: Tasneem Bulbulia     18th March 2019 Wesizwe has resolved to implement a new mine plan at its Bakubung mine, in Rustenburg, which will entail the development of a one-million-tonne-a-year mine with a one-million-tonne-a-year processing plant to treat the ore. The company explained in a news release that the decision was taken as a... 

Wesizwe to scale back Bakubung’s output

Sitatunga starts project implementation activity at East Managanese 

By: Marleny Arnoldi     15th March 2019 Exploration and mining development company Sitatunga Resources will start building its first manganese mine, in the Northern Cape, this year, following receipt of the last regulatory authorisations. The Department of Mineral Resources (DMR) on February 22 granted environmental authorisation for... 

East Manganese project approval granted.
Photo by Sitatunga
East Manganese project approval granted.

Amplats donates 270 ha of land to support land reform 

By: Nadine James     15th March 2019 Anglo American Platinum (Amplats) on Friday handed over 270 ha of land, worth about R26-million, to the Rustenburg local municipality and the Rustenburg Alchemy Development Trust to support sustainable land reform and transformation. Parent company Anglo American said the donation, which followed... 

Amplats CEO Chris Griffith and Rustenburg Alchemy Development Trust chairperson Nthabiseng Matsobane
Photo by Creamer Media's Dylan Slater
Amplats CEO Chris Griffith and Rustenburg Alchemy Development Trust chairperson Nthabiseng Matsobane

South African court blocks AMCU's plans for industry-wide strike 

By: Reuters     15th March 2019 The labour court has rejected a request by platinum and gold sector union, the Association of Mineworkers and Construction (AMCU), to hold an industry-wide strike, Anglogold Ashanti, Anglo American Platinum (Amplats) and Lonmin said on Friday. AMCU has been on strike at Sibanye-Stillwater's gold... 

Phase 1 of MC Mining’s Makhado project approved 

By: Simone Liedtke     14th March 2019 ASX-, Aim- and JSE-listed MC Mining’s directors have approved the phased development of the company’s flagship Makhado coking coal project, which will result in the start of mining operations on the west pit. Construction of Phase 1 is set to start in the third quarter of this year. 

'Historic’ Arnot transaction realises aspirations of Mining Charter 3 – Mgojo 

By: Nadine James     14th March 2019 Diversified miner Exarro Resources has facilitated a transaction that enables former employees of Exxaro Coal Mpumalanga (ECM) to participate in 50:50 joint venture that is set to acquire the assets and liabilities of the Arnot coal mine, in Mpumalanga. On February 22, Exxaro signed a transfer... 

MXOLISI MGOJO
Photo by Creamer Media
MXOLISI MGOJO

Exxaro delivers record coal output, sales; ups total dividend  

By: Nadine James     14th March 2019 Empowered diversified miner Exxaro Resources achieved a robust financial performance for the year ended December 31, 2018. The company reported record coal production, sales and exports, while its revenue increased by 12% year-on-year to R25.5-billion. Its earnings before interest, taxes,... 

Exxaro CEO Mxolisi Mgojo
Exxaro CEO Mxolisi Mgojo discusses the group’s full year results, digitalisation strategy and Arnot transaction. Camerawork and editing: Creamer Media's Darlene Creamer

2018 a year of ‘transformational’ growth, says B2Gold 

By: Simone Liedtke     13th March 2019 For dual-listed B2Gold, 2018 was a year of “transformational” growth, which was highlighted by the first full year of commercial production from its new large and low-cost Fekola mine, in Mali, and record yearly production from its Masbate mine, in the Philippines. The year also marked the gold... 

Gem Diamonds posts surge in earnings, record production for 2018 

By: Natasha Odendaal     13th March 2019 LSE-listed Gem Diamonds on Wednesday posted a significant surge in earnings as it delivered record diamond recoveries for the year ended December 31, 2018. The diamond miner reported a profit for the year of $46.6-million, compared with the $20.8-million achieved, before exceptional items, in... 

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