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Gold Fields warns striking workers there will be no ‘sweetener’ deals 
By: Nadine James 28th November 2018 JSE- and NYSE-listed Gold Fields says the settlement agreement offered to striking workers will expire at 17:00 on Friday, November 30, and warns that no further “sweetener deals” will be introduced should the deadline lapse. In a media briefing on Wednesday, CEO Nick Holland reiterated the... →
Gold Fields CEO Nick Holland
Sibanye says acts of violence continue at its South African gold mines
By: Creamer Media Reporter 28th November 2018 JSE- and NYSE-listed Sibanye-Stillwater on Wednesday reported that acts of violence continued to be experienced at its South African gold operations, where a strike by Association of Mineworkers and Construction Union (AMCU) members was under way. “The situation at the Beatrix and Driefontein... →
Gold investors target executives with less skin in the game
By: Bloomberg 28th November 2018 A coalition of gold investors, including firms backed by billionaires John Paulson and Naguib Sawiris, is taking aim at mining executives who don’t have enough skin in the game. Businesses tend to perform better when top managers have a high ownership-to-pay ratio, according to the inaugural... →
Minergy's Botswana opencast coal mine project springs to life
By: Schalk Burger 27th November 2018 The first opencast coal mine in Botswana, Masama, which is located about 70 km outside Gaborone, has sprung to life following the awarding of the mining licence at the end of August. The first soil was dug on September 9. The mine is expected to start selling thermal coal in the first week of... →
Gold Fields insists South Deep retrenchments are a last resort
By: Creamer Media Reporter 27th November 2018 JSE- and NYSE-listed Gold Fields says it has acted in “utmost good faith” and insists the currently planned retrenchment of 1 082 employees and 420 contractors at the South Deep mine is a last resort. This follows after the Department of Mineral Resources (DMR) on Monday evening issued a media... →
Exxaro grants Tronox option to buy 24% stake
By: Creamer Media Reporter 27th November 2018 Diversified miner Exxaro Resources has granted NYSE-listed mining and inorganic chemicals company Tronox the option to buy Exxaro's remaining 24% interest in Tronox. Exxaro in 2012 merged its mineral sands operations with those of Tronox. It held about 38.5% of Tronox following the merger but... →
DMR initiates ground stability study in areas affected by illegal mining in Joburg
By: African News Agency 26th November 2018 The Department of Mineral Resources (DMR) said on Monday that it has initiated a ground stability study in the Johannesburg area with immediate effect. In a statement, the DMR said the study, which will commence shortly through the Council for Geoscience (CGS), aims to assess whether there is any... →
Sibanye says more workers report for duty
By: African News Agency 26th November 2018 Sibanye-Stillwater said on Monday that attendance at its operations has improved relative to last week, but remains low, as a result of the ongoing strike action by the Association of Mineworkers and Construction Union (AMCU) at its South African gold operations. "The situation remained... →
Rio Tinto sells Namibia uranium mine to China’s CNUC
By: Esmarie Iannucci 26th November 2018 Global diversified miner Rio Tinto has signed a binding agreement with China National Uranium Corporation (CNUC) to divest of its 68.62% stake in the Rössing uranium mine, in Namibia, for up to $106.5-million. Rio CEO Jean-Sebastian Jacques said on Monday that the transaction represented the... →
New administrations, policies spur optimism for South Africa, Brazil
By: Nadine James 23rd November 2018 The withdrawal of the Minerals and Petroleum Resources Development Act Amendment Bill, the finalisation of Mining Charter 3 and the investment drive led by President Cyril Ramaphosa, has given the South African mining sector reason to be cautiously optimistic, Herbert Smith Freehills partner... →
Zest WEG Group delivers R200m electrical infrastructure solution at Petra’s Cullinan diamond mine 
By: Martin Creamer 23rd November 2018 A R200-million electrical infrastructure project has been impressively completed at the Cullinan Diamond Mine of the London-listed Petra Diamonds through the combined effort of four Zest WEG Group companies. The companies adopted an integrated solutions approach in providing multiple and diverse... →
South African infrastructure better suited to transporting precious metals than base metals
By: Nadine James 23rd November 2018 South Africa’s (SA’s) transport infrastructure was built for and remains suited to the movement of precious metals and diamonds, Herbert Smith Freehills (HSF) consultant Biddy Faber told attendees of the roundtable on Exploring comparisons between SA and Brazilian mining and infrastructure... →
Platinum’s stature growing as world’s clean air catalyst
By: Martin Creamer 22nd November 2018 This month’s launch of the world’s first fuel cell double-decker bus is the latest example of platinum helping to power the world’s new clean air revolution. The fuel cell bus was developed as a part of the European Union-funded joint initiative for hydrogen vehicles, which make use of platinum,... →
South Deep strike enters third week, costs Gold Fields R6m a day
By: Marleny Arnoldi 22nd November 2018 A strike by National Union of Mineworkers (NUM) members at Gold Fields’ South Deep mine has entered its third week and is costing the company about R6-million a day. The strike action started on November 2, with the union opposed to the planned retrenchments of more than 1 000 South Deep... →
Gold Fields' South Deep mine
Sibanye says gold mines shut down after strike turns violent
By: Bloomberg 22nd November 2018 Sibanye Gold shut down all its gold mining operations in South Africa after violence broke out during a strike by workers demanding higher wages. Operations at Driefontein, Kloof and Beatrix mines, major sources of revenue for the producer, were suspended late on Wednesday due to strike action,... →
Doubts cast on plans for deluge of new nickel supply
By: Reuters 21st November 2018 Expectations of a supply avalanche hitting the nickel market next year due to new capacity in Indonesia have sent prices to seven-month lows, but analysts doubt the plans spearheaded by Chinese firms can be carried out so quickly. Benchmark nickel on the London Metal Exchange nearing $11 000/t... →
Coal to remain significant part of South Africa’s energy generation mix
By: Simone Liedtke 21st November 2018 Notwithstanding recent and continued advances in the roll-out of renewable energy and energy efficiency measures, South African National Energy Development Institute (Sanedi) GM for cleaner fossil fuel use Professor Tony Surridge expects coal will continue to form a significant component of South... →
Debswana appoints new MD as Bonyongo retires
By: Marleny Arnoldi 21st November 2018 Debswana Diamond Company, a subsidiary of De Beers Group, has appointed Albert Milton MD, effective December 1, following the retirement of Balisi Bonyongo. Bonyongo had been with the company for 26 years and had served as MD from January 2014. →
Gold miner smuggles in workers by night to bypass strikers
By: Bloomberg 16th November 2018 Gold Fields is having to sneak maintenance teams into its South Deep mine in South Africa after protesters shot at vehicles trying to enter the site, where workers have been on strike since Nov. 2. Small teams of essential workers are using secret entrances to enter the mine and sometimes have to... →
DRC lifts export ban on Glencore's copper and cobalt unit
By: Bloomberg 16th November 2018 A Glencore unit in the Democratic Republic of Congo (DRC) had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country. “They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone.... →
Although trending lower, lung disease incidence in SA mines still ‘alarmingly high’
By: Nadine James 16th November 2018 With the reaffirmation of tripartite commitments at the 2018 Mine Occupational Heath and Safety Summit and the publication of the Compensation for Occupational Diseases Act (Coida) Amendment Bill, both in October, it is clear that the regulatory authorities, including the departments of Labour... →
Now export duty dispute halts Katanga’s copper exports
By: Mariaan Webb 15th November 2018 Merely a week after Glencore subsidiary Katanga Mining halted cobalt exports from its Kamoto mine, in the Democratic Republic of Congo (DRC), its copper exports have also been suspended as a result of an alleged failure to declare and pay duties on 6 650 t of copper in late 2015, early 2016. In... →
MC Mining acquires key surface rights for Makhado project
By: Tasneem Bulbulia 15th November 2018 MC Mining’s subsidiary, Baobab Mining & Exploration has reached agreement on the terms and conditions under which it will acquire the two key properties required for its Makhado hard coking and thermal coal project, in Limpopo. →
Global exploration up 19%; cobalt/lithium budgets soar
By: Esmarie Iannucci 15th November 2018 The budget for global non-ferrous exploration has increased by 19% year-on-year, to $10.1-billion, new data from S&P Global Market Intelligence has revealed. This was the second consecutive year where there has been an upturn in exploration spend, with S&P reporting on Thursday that junior... →
Vanadium batteries the solution to meet growing energy storage demand – Bushveld
By: Simone Liedtke 14th November 2018 Vanadium redox flow batteries (VRFBs) are a front-runner technology for meeting the growing demand in the energy storage sector, says Bushveld Energy CEO Mikhail Nikomarov. During a webinar on energy storage this week, he noted that data by US-based multiservice professional firm Navigant shows... →
Congo State miner wants meeting over Katanga cobalt export halt
By: Bloomberg 14th November 2018 The Democratic Republic of Congo’s state-owned miner sought an urgent meeting to discuss a decision by Glencore unit Katanga Mining last week to halt cobalt exports. Katanga, controlled by Glencore, announced November 6 it suspended sales from its Kamoto mine in southeast Congo after detecting... →
Electric vehicle revolution goes underground with mining trucks
By: Bloomberg 14th November 2018 Electric vehicles are reaching global markets far and wide – and deep. Swedish mining equipment maker Epiroc is launching a new range for use underground. The manufacturer on Wednesday unveiled what it said is the largest battery-powered vehicle for below the Earth’s surface: a 42 ton-capacity... →
Hydrogen economy, PGM-based tech offers decarbonised alternative for energy system – Amplats
By: Simone Liedtke 13th November 2018 With the world’s current energy system reliant on carbon-intensive fossil and other fuels, with the associated negative impact on climate change and global warming, Anglo American Platinum (Amplats) believes there is a decarbonised alternative in the form of the hydrogen economy and platinum... →
Wescoal reports strong interim results
By: Tasneem Bulbulia 13th November 2018 JSE-listed coal miner, trader and supplier, Wescoal has achieved solid results for the six months ended September 30, with headline earnings a share up 16% year-on-year, at 23.5c. Revenue increased by 28% year-on-year to R2.1-billion, while cash generation increased by 41% to R291-million, which... →
Wescoal CEO Waheed Sulaiman
De Beers is said to make big cuts in low-end diamond prices
By: Bloomberg 12th November 2018 De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation. The world’s biggest producer reduced prices as much as 10% for low-quality stones, said the people, who asked not to be identified because the sales are private.... →
Resgen to accelerate discussions with alternative funder
By: Simone Liedtke 12th November 2018 ASX- and JSE-listed Resource Generation (Resgen) has agreed to accelerate discussions with the facilitator of alternative funding being sourced from a third party as a substitute or as a complementary participant in its lender syndicate. This is owing to a short delay having arisen in scheduling... →
Eskom warns of power cuts due to low coal stockpiles
By: Reuters 12th November 2018 Cash-strapped power utility Eskom said on Monday the risk of nation-wide electricity outages had increased significantly due to a sharp fall in coal stockpiles at five of its power stations. "The risk of load-shedding is there and its rising," said Eskom spokesperson Khulu Phasiwe. →
Universal completes third colliery buy
By: Esmarie Iannucci 12th November 2018 South Africa focused Universal Coal has completed the A$8.9-million acquisition of the North Block Complex from South Africa’s Exxaro Coal. The North Block Complex is an opencast operation located in proximity to South African State-owned utility Eskom’s Arnot, Tutuka and Komati power stations.... →
Tribunal to hold Sibanye, Lonmin merger hearing next week
By: Simone Liedtke 9th November 2018 The Competition Tribunal will, from November 12 to 14, hear several submissions from parties affected by the proposed merger between precious metals miner Sibanye-Stillwater and platinum group metals (PGMs) miner Lonmin. The Competition Commission, which assesses large mergers prior to referring... →
Gold Fields lowers South Deep’s FY production forecast
By: Simone Liedtke 9th November 2018 Dual-listed Gold Fields has lowered its production guidance for the South Deep mine, in South Africa, for the full year to 154 000 oz, from the previously anticipated 244 000 oz target. The deep-level mine, which is Gold Fields’ only remaining South African operation, has long been faced with... →
Gold Fields CEO Nick Holland
Govt’s R20bn exploration boost lauded, but more needs to be done
By: Paige Müller 9th November 2018 Amid reports that South Africa is attracting less than 1% of the global share of exploration spend, Mineral Resources Minister Gwede Mantashe has dedicated a national investment of R20-billion to an integrated multi-disciplinary mapping programme to boost global investment in local exploration.... →
WGC launches gold data, analytics and research platform
By: Tasneem Bulbulia 8th November 2018 The World Gold Council (WGC) on Thursday launched Goldhub, a source of data, insights and analytical tools to help investors understand gold’s value as a strategic asset. Goldhub will provide investors with a range of data that is necessary when making informed decisions in relation to gold... →
Mining, metals industry anticipated to see spike in M&A activity in 2019
By: Marleny Arnoldi 8th November 2018 Global mining and metals deal appetite remained subdued in the third quarter amid ongoing geopolitical uncertainty, advisory firm EY notes in its latest ‘Mergers, Acquisitions and Capital Raising’ report. However, EY’s global capital confidence barometer (CCB) survey indicated the sector could... →
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