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Audio Articles
Assore earnings up, dividend maintained 
By: Martin Creamer 26th February 2019 Mining and marketing company Assore on Tuesday reported 20% higher headline earnings to R2.92-billion in the six months to December 31, buoyed by an improved price basket and weaker exchange rate. Assore's jointly controlled Assmang recorded headline earnings of R4.29-billion, an increase of 23%... →
Khoemacau secures $565m funding package for Botswana project’s development
By: Marleny Arnoldi 26th February 2019 Khoemacau Copper Mining has made progress towards starting the construction of its Khoemacau copper/silver project, in Botswana, and expects first copper concentrate to be produced in the first half of 2021. The company has signed, together with its parent company Cupric Canyon Capital, a... →
Paladin approves restart PFS in Namibia
By: Esmarie Iannucci 26th February 2019 The board of ASX-listed Paladin Energy has approved a prefeasibility study (PFS) probing the restart of its Langer Heinrich mine, in Namibia, after a concept study identified a number of options to reduce operating costs, improve uranium process reliability, and to potentially recover a saleable... →
Mick Davis’ Niron believes Zogota can unlock Guinea’s rich potential
By: Martin Creamer 25th February 2019 Mining luminary Mick Davis’s new company Niron Metals on Monday expressed the belief that the development of the Zogota iron-ore endowment in Guinea had the potential to unlock the country’s rich resources for the benefit of all stakeholders. Davis, who is well known for his impressive record in... →
A flashback to Mick Davis' Xstrata days with South Africa's former Mineral Resources Minister Phumzile Mlambo-Ngcuka.
Barrick sees Newmont merger as unprecedented value creator
By: Martin Creamer 25th February 2019 Gold mining company Barrick on Monday announced that it had made a proposal to the Newmont board of directors to merge with Newmont in an all-share transaction, saying a combination of the two companies would form the world’s best gold company with unprecedented potential for value creation.... →
Mick Davis' Niron to develop Guinea's Zogota iron-ore deposit
By: Creamer Media Reporter 25th February 2019 Niron Metals, headed by Mick Davis, on Monday confirmed in an email to Mining Weekly Online that a settlement had been reached between Guinea and Niron on mining concessions and licences. Reuters earlier on Monday quoted a BSG Resources (BSGR) spokesperson as saying that Niron would develop... →
Niron Metals' Mick Davis
Mpumi Zikalala to head De Beers managed operations
By: Martin Creamer 25th February 2019 De Beers Group has announced an initiative to consolidate its mining assets in South Africa and Canada into one business called De Beers Group Managed Operations. The new business will streamline operational management and identify synergies to create a more sustainable business in the two... →
AMCU strike action further undermines struggling gold, platinum sectors – Minerals Council
By: Marleny Arnoldi 22nd February 2019 The Minerals Council South Africa on Friday expressed its concern about the consequences of Association of Mineworkers and Construction Union’s (AMCU’s) planned secondary strikes at mining companies where the union is recognised in the gold and platinum sectors. Fifteen companies have, so far,... →
Wescoal appoints new CEO, reconstitutes board
By: Creamer Media Reporter 22nd February 2019 JSE-listed Wescoal has appointed Reginald (Reg) Lavhelesani Demana, a mining and resources specialist, CEO, effective April 1. He will take over from interim CEO Dr Humphrey Mathe, who took over the position following former CEO Waheed Sulaiman's resignation in January. →
Northam lifts H1 earnings, Booysendal on track for FY22 steady-state production
By: Marleny Arnoldi 22nd February 2019 JSE-listed Northam Platinum has reported normalised earnings a share of 108.5c for the six months ended December 31, 2018, compared with the 37.1c reported for the six months ended December 31, 2017. This was on the back of normalised headline earnings having increased by 192% to R553-million,... →
Northam CEO Paul Dunne
UG2 outperforms as Sibanye positions for new world 
By: Martin Creamer 21st February 2019 The soaring prices of rhodium and palladium have put new focus on the upper group two (UG2) reef, for long the poor cousin of Merensky reef in the hierarchy of platinum group metals (PGMs) mining. Merensky's predominant platinum content has made it the preferred reef for decades but UG2 is... →
Productivity improvements, higher prices lift Anglo American’s FY18 Ebitda to $9.2bn
By: Marleny Arnoldi 21st February 2019 Continued productivity improvements in underlying operations and better-than-expected prices have contributed to global diversified miner Anglo American’s 4% year-on-year increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $9.2-billion for 2018. CE Mark... →
Strike-hit but upbeat Sibanye confident of value uplift as precious metals shine
By: Martin Creamer 21st February 2019 Precious metals company Sibanye-Stillwater expressed confidence on Thursday that the global precious metals surge would enable it to deliver value despite the prolonged strike challenge that the company is contending with. The company reported 8%-lower earnings before interest, taxes,... →
Sibanye-Stillwater CEO Neal Froneman
Glencore auditing 140 slimes dams
By: Martin Creamer 20th February 2019 Diversified mining and marketing company Glencore is auditing 140 slimes dams, 65 of them active and 75 of them closed. The company has been undertaking detailed assessments and audits of all material tailings storage facilities (TSFs) over the past three years, after accumulating a TSF... →
Fifty-one percent of Glencore's tailings storage faciities are upstream dams.
Pan African H1 revenue up 52.8% y/y to R1.3bn
By: Nadine James 20th February 2019 Gold miner Pan African Resources achieved a 52.8% year-on-year increase in revenue for the six months to December 31, 2018, to R1.3-billion. CEO Cobus Loots on Wednesday attributed the higher revenue to an increase in gold production, which rose by 54.2% year-on-year to 81 014 oz on the back of... →
Coal capped at 150 Mt/y – Glencore
By: Martin Creamer 20th February 2019 Diversified mining and marketing company Glencore has capped its coal capacity at 150-million tonnes of coal a year, a figure that it is close to and which it will not exceed. The company has been working on the cap with its investors since 2016 in the interests of the transitioning to a low... →
Glencore is using wind turbine generated energy in Canada and Australia
Brazil iron-ore tragedy brings home reality of mining risk – Kumba
By: Martin Creamer 19th February 2019 Following 58 mineworkers suffering fatal occupational accidents in South Africa in 2018, Kumba Iron Ore CE Themba Mkhwanazi on Tuesday drew attention to 2019 beginning globally with the tragic loss of life at Brumadinho, in Brazil, as a result of an iron-ore tailings dam collapse that killed 170... →
Price premiums boosting quality-focused Kumba Iron Ore
By: Martin Creamer 19th February 2019 South Africa’s Kumba Iron Ore, which stands head and shoulders above its peers when it comes to iron-ore quality, is achieving major price premiums well above historical heights. Structural change and strong growth in particularly the China steel market has placed the Anglo American group company... →
Improved margins drive growth in AngloGold's free cash flow generation
By: Simone Liedtke 19th February 2019 Gold miner AngloGold Ashanti achieved its guidance for the sixth consecutive year, with improved margins driving significant growth in free cash flow generation, the company announced on Tuesday morning. The gold miner further declared a dividend of 95c a share, equal to about $0.07. During... →
AngloGold CEO Kelvin Dushnisky
High-flying Amplats sets ‘next wave of strategy’ in motion
By: Martin Creamer 18th February 2019 Anglo American Platinum (Amplats), which shot the lights out with a set of stupendous cash-splurging, debt-negating, high-dividend-yielding 2018 results, on Monday set its “next new wave of strategy” in motion, which involves extracting the full potential from its operations through people and... →
Anglo American Platinum CEO Chris Griffith
Petra appoints new CEO, narrows H1 net loss
By: Tasneem Bulbulia 18th February 2019 LSE-listed Petra Diamonds, which on Monday announced the appointment of Richard Duffy as CEO, narrowed its adjusted net loss after tax to $4.5-million for the six months ended December 31, 2018, from the net loss of $7.2-million recorded for the six months to December 31, 2017. Nevertheless,... →
Richard Duffy
Universal still waiting for takeover offer
By: Esmarie Iannucci 18th February 2019 The board of ASX-listed Universal Coal has urged shareholders to sit tight as the company awaits a possible takeover offer from a consortium of investors, headed by South Africa’s Ata Resources. Universal in December last year struck a non-solicitation agreement with the special purpose bidding... →
Lower South Deep output dents Gold Fields’ FY18 profit
By: Tasneem Bulbulia 15th February 2019 Dual-listed Gold Fields achieved normalised profit from continuing operations of $27-million for the year ended December 31, 2018, compared with the $154-million posted for 2017. The company’s profit was dented by a decline in output, led by its South Deep mine in South Africa. →
Gold Fields CEO Nick Holland
Nevada like Witwatersrand of 1970s – Bristow
By: Martin Creamer 15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... →
Mantashe calls for more security at mines following Gloria coal mine incident
By: Simone Liedtke 15th February 2019 Mineral Resources Minister Gwede Mantashe on Friday said the priority remains to restore ventilation at the Gloria mine, in Mpumalanga, and to reduce flammable gases underground so that the search and recovery process can continue with the necessary speed. He also called for security at mines to... →
South32 finalising preferred list of coal mine bidders
By: Martin Creamer 14th February 2019 The complete preferred list of bidders for South32’s energy coal interests is still being finalised, South32 CEO Graham Kerr told Mining Weekly Online on Thursday, when he also provided three reasons why the company’s Australian manganese operations are doing better than its South African... →
South32 CEO Graham Kerr
Sibanye considers restructuring gold operations; says FY loss to narrow to R1bn
By: Marleny Arnoldi 14th February 2019 JSE- and NYSE-listed Sibanye-Stillwater will consult with stakeholders about the possible restructuring of its gold operations and associated services, as a result of ongoing financial losses. In a trading statement released on Thursday, the miner said it expects to report an attributable loss... →
Sibanye-Stillwater CEO Neal Froneman
Barrick advancing autonomous gold production – Bristow
By: Martin Creamer 14th February 2019 Autonomous production systems and projects are being advanced across Barrick Gold as the group focuses on boosting mining efficiency, new Barrick president and CEO Dr Mark Bristow tells Mining Weekly Online. This is part of an all-out drive by Bristow to ensure that Barrick, into which Randgold... →
Lower grades, higher costs contribute to lower FY18 adjusted earnings for Barrick
By: Marleny Arnoldi 13th February 2019 Since merging with Randgold Resources six weeks ago, Barrick Gold Corporation on Wednesday said it has made progress in achieving its short-term priority goals and its full-year objectives. Barrick expects to produce between 5.1-million and 5.6-million ounces of gold and between 375-million and... →
Bristow snaps into fast action wearing Barrick crown
By: Martin Creamer 13th February 2019 Dr Mark Bristow has snapped into fast action wearing the Barrick crown. His Randgold Resources, which now falls under the Barrick Gold umbrella, on Wednesday bowed out with panache when it declared a 35% dividend increase to $2.69 a share, buoyed by record production of 807 000 oz of gold at the... →
Eskom grid upkeep increasingly problematic – DRDGold
By: Martin Creamer 13th February 2019 The quality of maintenance of the Eskom distribution infrastructure is becoming increasingly problematic, DRDGold CEO Niël Pretorius said on Wednesday. At the company's presentation of power-hit interim results for the six months to December 31, Pretorius said that although DRDGold's own power... →
Harmony cuts energy consumption, ushering in solar, mulling biofuels
By: Martin Creamer 12th February 2019 Gold mining and exploration company Harmony Gold is intensifying its efforts to cut electricity consumption to a minimum while also looking at introducing solar power and biofuel energy. CEO Peter Steenkamp said on Tuesday when the company issued its half-year results that Eskom’s problems could... →
Harmony’s Steenkamp rising to President Ramaphosa’s ten-point challenge
By: Martin Creamer 12th February 2019 Harmony Gold CEO Peter Steenkamp is rising to President Cyril Ramaphosa’s ten point mining challenge by striving to pay meaningful social dividends across a broad front and answering the call to beneficiate, which is no mean feat when it comes to gold. The executive head of the million-ounce-plus... →
Sibanye considers closing unprofitable shafts at gold mines
By: Bloomberg 12th February 2019 Sibanye Gold is considering shutting unprofitable shafts and cutting jobs at its South African gold mines amid a three-month-old wage strike that’s curbing output. The nation’s largest gold producer has talked with some labor unions about a potential restructuring, which could lead to job cuts,... →
Xolobeni judgment continues to confound
By: Martin Creamer 11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other. But the... →
Obuasi development on track for end-2019 gold pour
By: Marleny Arnoldi 11th February 2019 AngloGold Ashanti’s Obuasi redevelopment project has completed its first week of underground development blasting, as the work to pour first gold by the end of the year gathers momentum. The first blast, on February 1, advanced development by around 4.2 m on the 2 700-level, which is accessed... →
Acacia maintains strong cost discipline in FY18
By: Tasneem Bulbulia 11th February 2019 Gold miner Acacia Mining maintained strong cost discipline in the financial year ended December 31, achieving an all-in sustaining cost (AISC) of $905/oz, well below the guidance range of $935/oz to $985/oz, interim CEO Peter Geleta said in a statement on Monday. He added that the company had... →
Lonmin’s Q1 results show improved liquidity despite relatively poor performance
By: Nadine James 8th February 2019 Platinum miner Lonmin on Friday released its unaudited first-quarter production results for the three months ended December 31, 2018, stating that its relatively poor operational performance had been partially redeemed by its improved liquidity. The company noted that the first quarter is... →
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