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Chrome News

Merafe warns of potential force majeure declaration

By: Marleny Arnoldi     2nd April 2020 JSE-listed ferrochrome producer Merafe Resources has warned that it might need to declare force majeure should it be unable to perform under contracted obligations, given that its operations have had to be placed on care and maintenance during South Africa's 21-day lockdown. Merafe confirms... 

Standard Bank meeting all capital and liquidity requirements 

By: Martin Creamer     1st April 2020 Capital and liquidity requirements across all the markets in which it operates are continuing to be met, Standard Bank Group FD Dr Arno Daehnke said during an investor call. Daehnke disclosed that the bank was benefitting from building up increased capital levels over the last few years in line... 

Standard Bank meeting all capital and liquidity requirements
Sim Tshabalala

Covid-19 prompts Glencore to defer cash distribution, reinforce liquidity 

By: Martin Creamer     31st March 2020 The coronavirus pandemic has prompted global diversified mining and marketing company Glencore to defer its proposed $2.6-billion distribution of cash and reinforce its $10.1- billion liquidity through the refinancing and extension of revolving credit facilities on the same commercial terms as... 

Covid-19 prompts Glencore to defer cash distribution, reinforce liquidity
Ivan Glasenberg

South Africa lockdown squeezes global chrome supply

By: Reuters     31st March 2020 Samancor Chrome, one of the world's biggest ferrochrome producers, has declared force majeure because of South Africa's 21-day coronavirus lockdown, removing further supply from global chrome markets. South Africa ordered all underground mines and furnaces be put on care and maintenance status... 

African Rainbow Minerals financial director to step down

By: Martin Creamer     31st March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) on Tuesday announced that its FD Abigail Mukhuba would be stepping down with effect from the end of September to pursue a new career, and that ARM senior executive finance: corporate and tax... 

Assore halts mines and smelters, prioritises on-time supplier payment

By: Martin Creamer     31st March 2020 Mining and marketing company Assore, which is delisting from the Johannesburg Stock Exchange after 70 years, on Tuesday informed its shareholders that it had taken lockdown steps following the increased incidents of COVID-19 in South Africa. Assmang, which is half owned by Assore and jointly... 

Assore halts mines and smelters, prioritises on-time supplier payment
Photo by Creamer Media
Charles Walters

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... 

Bauba turns a profit in 2019

By: Marleny Arnoldi     27th March 2020 Diversified mining and exploration company Bauba Resources managed to narrow its basic loss a share to 0.01c apiece in the year ended December 31, 2019, compared with a basic loss a share of 2.55c apiece in the year ended December 31, 2018. The company’s total comprehensive profit for the year... 

Bauba turns a profit in 2019

Tharisa places smelter on care and maintenance, declares force majeure on chrome sales agreements

By: Donna Slater     27th March 2020 Platinum group metals (PGMs) and chrome concentrate miner Tharisa has shut its PGMs smelter, thereby placing it on care and maintenance, as well as declared force majeure on its contracted chrome concentrate sales agreements. The miner has also received force majeure notifications from its PGM... 

Eastplats, Union Goal to finalise framework agreement as soon as possible

By: Simone Liedtke     27th March 2020 Canada-based Eastern Platinum (Eastplats) on March 27 said it and Union Goal Offshore Solution were negotiating and working to finalise and update the framework agreement in several areas after one year of operations. On March 1, 2018, Eastplats entered into an agreement with Union Goal relating... 

Zimbabwe cuts rates, miners send coronavirus distress signals

By: Reuters     27th March 2020 Zimbabwe's central bank cut its main lending rate to 25% on Thursday and set a fixed exchange rate as part of measures to support the economy against the coronavirus pandemic. The Chamber of Mines, which represents major mining companies in the country, said mineral production could fall 60% in... 

Mining to be ‘scaled down significantly’ during 21-day lockdown 

By: Terence Creamer     25th March 2020 Mining operations in South Africa are to be “scaled down significantly” during the 21-day lockdown period, particularly labour-intensive, deep-level mining activities, Mineral Resources and Energy Minister Gwede Mantashe reported on March 25. However, mines supplying coal to Eskom would remain in... 

Mining to be ‘scaled down significantly’ during 21-day lockdown

Menar progressing gold project in Kyrgyzstan  

By: Martin Creamer     17th March 2020 Private investment and management company Menar, which is planning to invest R7-billion in coal projects in South Africa, is also progressing a gold project in Kyrgyzstan. “We’re looking at a sizeable gold project,” said Menar MD Vuslat Bayoǧlu, who is hoping that the Kyrgyzstan project will... 

Menar progressing gold project in Kyrgyzstan
Menar MD Vuslat Bayoǧlu talks to Mining Weekly’s Martin Creamer about gold project in Kyrgyzstan. Video Editing: Nicholas Boyd. Photograph: Donna Slater. Video: Kutlwano Matlala.

Assore to delist from JSE, offers to buy back shares

By: Martin Creamer     9th March 2020 Mining company Assore, which has been listed on the JSE since 1950, has announced a transaction that will result in the minorities in the company being bought out and the company delisting from the exchange. Commenting on the transaction, Assore CEO Charles Walters said that the very low... 

Assore to delist from JSE, offers to buy back shares
Photo by Creamer Media
Charles Walters

Coronavirus likely to cause drastic price falls – Menar  

By: Martin Creamer     9th March 2020 The reduction in the consumption of mined products that the coronavirus was causing would likely result in a drastic fall in prices, Menar MD Vuslat Bayoğlu said on Monday. Metals and minerals like manganese, chrome, iron-ore and metallurgical coal were not being consumed at the rate they were... 

Coronavirus likely to cause drastic price falls – Menar
Menar MD Vuslat Bayoğlu interviewed by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Merafe swings to loss on low demand, prices

By: Marleny Arnoldi     9th March 2020 JSE-listed Merafe Resources says low global demand and lower prices for ferrochrome had dampened its financial performance in the year ended December 31. The company reported a headline loss a share of 1.8c apiece, compared with headline earnings a share of 27.2c in the year ended December 31,... 

Merafe swings to loss on low demand, prices

Merafe lowers expected headline loss

By: Marleny Arnoldi     5th March 2020 JSE-listed ferrochrome producer Merafe Resources has revised its expected headline loss a share for the year ended December 31, downward to between 1.2c and 2.3c. This is an improvement on the headline loss a share of 2.3c to 2.9c it initially expected to report for the year. 

Warning of ‘significant losses’ in South African mining industry if coronavirus outbreak is not contained soon 

By: Terence Creamer     3rd March 2020 A newly released report by Trade and Industrial Policy Strategies (TIPS) warns that South Africa’s mining industry could suffer “significant losses” should the coronavirus, or Covid-19, not be contained in the short term, which the authors defined as being by April 2020. In a policy brief, TIPS... 

Warning of ‘significant losses’ in South African mining industry if coronavirus outbreak is not contained soon
A worker wearing a protective mask in Cyrildene, also known as Johannesburg's 'Chinatown'

Swanepoel steps down as ARM director

By: Creamer Media Reporter      3rd March 2020 Bernard Swanepoel has stepped down as an independent nonexecutive director of diversified miner African Rainbow Minerals (ARM). Independent nonexecutive ARM director and investment committee member David Noko has been appointed ARM’s investment committee chairperson with immediate effect. 

Ontario signs Ring of Fire road access partnership agreement with First Nations

By: Mariaan Webb     3rd March 2020 The Ontario government and First Nations on Monday signed an agreement to advance planning and development of a proposed northern road link that will provide all-season access to mine sites in the Ring of Fire and connect communities to the provincial highway network. Premier Doug Ford and... 

Ontario signs Ring of Fire road access partnership agreement with First Nations
Ontario Premier Doug Ford

Numsa march against exploitation in Rustenburg mines

By: African News Agency      27th February 2020 About 100 members of the National Union of Metalworkers (Numsa) from Lanxess chrome mine in Rustenburg braved the scorching sun on Wednesday, to march against exploitation in the mines. Dressed in red union T-shirts they chanted as they snaked through Unie Street heading to the offices of the... 

Solar power for mines under consideration – Assore 

By: Martin Creamer     21st February 2020 A scoping study is under way into the self-generation of electricity for Assmang’s mines – but not its smelters, Assore CEO Charles Walters said on Friday, when the company reported interim results that were negatively affected by weaker chrome and manganese prices, and lower shipments of... 

Solar power for mines under consideration – Assore
Photo by Assore
Assore's mines and logisitcs routes

Glencore to harness heat energy from residual flare gas to generate electricity at Lydenburg smelter  

By: Marleny Arnoldi     21st February 2020 Glencore Operations South Africa (GOSA) on Tuesday signed an energy conversion service agreement with clean-tech company Swedish Stirling. Swedish Stirling will install, operate and maintain an estimated 9.9 MW facility at GOSA’s Lydenburg ferrochrome smelter.  

Glencore to harness heat energy from residual flare gas to generate electricity at Lydenburg smelter
Glencore's ferrochrome smelter, in Lydenburg

Price-hit Assore half-year earnings down, interim dividend upheld 

By: Martin Creamer     21st February 2020 JSE-listed base mineral and metals miner Assore, which on Friday reported net cash at a lower level of R8.1-billion, has declared an interim dividend of R7 a share for the half-year. Headline earnings for H1 FY20 decreased by 28% to R2,1 billion, compared to R2,9 billion for the H1 FY19. Assmang,... 

Price-hit Assore half-year earnings down, interim dividend upheld
Photo by Creamer Media
Charles Walters

South Africa could use mining royalties to set up sovereign fund – Minister

By: Reuters     20th February 2020 South Africa could use mining royalties to set up a proposed sovereign wealth fund, Mineral Resources and Energy Minister Gwede Mantashe said on Wednesday. President Cyril Ramaphosa said in an annual address to parliament last week the government had decided to establish a sovereign fund, but he... 

Eastplats achieves first PGM recoveries from tailings project

By: Marleny Arnoldi     18th February 2020 JSE- and TSX-listed Eastern Platinum (Eastplats) has successfully produced platinum group metal (PGM) concentrate from its refurbished small-scale PGM Circuit D – previously called the scavenger plant circuit. The company is using feed from its retreatment project, located at the company’s... 

Eastplats achieves first PGM recoveries from tailings project
Eastern Platinum's Crocodile River Mine

Lower chrome prices drag down Merafe’s headline earnings

By: Marleny Arnoldi     17th February 2020 JSE-listed Merafe Resources expects to report a basic loss a share of between 52.9c and 58.3c for the year ended December 31. The company also anticipates a headline loss a share of between 2.3c and 2.9c for the year, compared with headline earnings a share of 27.2c for the year ended December... 

NUM members allegedly being ‘held hostage’ at Rustenburg mine

By: Simone Liedtke     13th February 2020 The National Union of Mineworkers (NUM) on Thursday voiced its concern that more than 100 of its members were allegedly “being held hostage” underground at the Lanxess chrome mine, in Rustenburg. According to a statement issued by the NUM, this was as a result of members of the National Union of... 

Gold drives South Africa’s mining production higher

By: Simone Liedtke     13th February 2020 Mining production in South Africa increased by 1.8% year-on-year in December, Statistics South Africa (Stats SA) reported on Thursday. The largest contributors to this were gold, with output up 24.9% and contributed 2.7 percentage points; other nonmetallic minerals, which was up 24.1% and... 

Maputo port breaks record for volumes handled in 2019

By: Marleny Arnoldi     10th February 2020 The Port of Maputo, in Mozambique, handled 21-million tons of goods last year, exceeding its 2018 record of 19.5-million tons. The port handled higher volumes of chrome, magnetite and containers.  

Maputo port breaks record for volumes handled in 2019
Maputo Port

Video: Minerals Council no longer just the voice of the mining majors 

By: Creamer Media Reporter      6th February 2020 The Minerals Council South Africa is no longer just the voice of the mining majors, Grant Mitchell, who heads up the council's Junior and Emerging Miners Desk pointed out in a briefing at the 2020 Investing in African Mining Indaba, this week. He highlighted that 40% of the Minerals Council's... 

Video: Minerals Council no longer just the voice of the mining majors
Minerals Council South Africa Junior and Emerging Miners Desk head Grant Mitchell addresses stakeholders at the 2020 Investing in African Mining Indaba. Video and editing: Nicholas Boyd.

Minerals Council South Africa lobbying strongly for junior miners   

By: Martin Creamer     5th February 2020 Junior and emerging miners hold the majority of the 1 700 to 1 800 mining rights that have been issued in South Africa, Minerals Council South Africa social performance head Alex Khumalo said on Wednesday. But most of these rights are not being exercised, Khumalo revealed at a media briefing he... 

Minerals Council South Africa lobbying strongly for junior miners
Minerals Council social performance head Alex Khumalo, junior miners leadership forum chairperson Errol Smart and junior and emerging miners' desk head Grant Mitchell in a briefing at the 2020 Investing in African Mining Indaba. Video and editing: Nicholas Boyd.

Glencore reports lower full-year copper, ferrochrome output

By: Tasneem Bulbulia     4th February 2020 Global diversified natural resource group Glencore on Tuesday released its full-year production results, with own-sourced copper production of 1.3-million tonnes for the period 82 500 t, or 6%, lower Year-on-year. About half of this (40 800 t) related to its African copper assets, with Katanga's... 

Glencore reports lower full-year copper, ferrochrome output
Photo by Bloomberg
Kamoto

Power curtailments, strikes lower Merafe’s full-year output

By: Marleny Arnoldi     4th February 2020 JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture for the year ended December 31, 2019, was 9% lower year-on-year at 371 000 t. The company’s production for the fourth quarter ended December 31, was also 6% lower year-on-year at 105 000 t.  

Urgent steps needed to revive South Africa’s economy – Minerals Council  

By: Martin Creamer     3rd February 2020 Urgent steps are needed to revive the South African economy, Minerals Council South Africa chairperson Mxolisi Mgojo said on Monday. Speaking on the first day of the four-day Investing in African Mining Indaba, he said the Minerals Council was ready and willing to work with the government. 

Urgent steps needed to revive South Africa’s economy – Minerals Council
Minerals Council chairperson Mxolisi Mgojo discusses low investor confidence in South Africa, while CEO Roger Baxter warns about the deterioration in security in the South African mining industry and how this is impacting on the sector and the economy. Video and editing: Creamer Media's Nicholas Boyd.

Multimetal strategy paying off for Jubilee  

By: Marleny Arnoldi     28th January 2020 Aim- and AltX-listed Jubilee Metals Group delivered record platinum group metal (PGM) earnings for the six months ended December 31, on the back of higher output and metal prices, while its chrome operations showed their resolve, maintaining positive earnings against softer chrome prices. CEO... 

Brother Group gets go ahead to buy Lanxess CISA, chrome tanning salts business

By: Marleny Arnoldi     24th January 2020 The Competition Commission has approved the proposed merger whereby Brother Industrial South Africa (Brothers SA) wants to acquire Lanxess CISA and the chrome chemicals business of Lanxess SA. Brothers SA was established by the Brother Group to effect the transaction. The group is involved in... 

Samancor Chrome may cut nearly 2 500 jobs

By: Reuters     22nd January 2020 South African miner Samancor Chrome said it could cut close 2 500 jobs in response to weak chrome prices and power supply problems, according to a letter to unions seen by Reuters on Wednesday. The warning follows a separate notification about 599 potential job cuts at its smelting operations and... 

Samancor Chrome may cut nearly 2 500 jobs
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