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Martin Creamer

Martin Creamer

Martin Creamer is Creamer Media Publishing Editor of Engineering News and Mining Weekly.

Tel: +2711 622 3744

Email: newsdesk@engineeringnews.co.za

First Word

Vale, BHP in iron expansion, India SAIL studies Orissa iron, Trans Hex buys diamond mine

By: Martin Creamer     13th May 2011 BHP Billiton and Vale, have given the green light to a $3-billion expansion; India’s State-owned Steel Authority of India (SAIL) is preparing a detailed project report for a $404-million iron-ore development; and De Beers is selling Namaqualand mines to Trans Hex.  

Old gold fundamentals are ‘passé’, Gold One bids for Rand Uranium, Sentula-Shanduka coal twinning

By: Martin Creamer     6th May 2011 The old gold-price dynamics of “jewellery and Indian wedding seasons” are passé, forget about them, says Barrick founder Peter Munk; Gold One has made a binding $250-million cash offer for Rand Uranium;Cyril Ramaphosa’s Shanduka is buying Shanduka for R2,1-billion; and Rio Tinto has the certainty... 

Gold may soar if US recovery fails, gold accessible from paid-for shafts, DRDGold to sell control of Blyvoor

By: Martin Creamer     29th April 2011 The gold price could breach $2 000/oz by 2012/13, if a US economic recovery is not realised, says mining analyst Rene Hochreiter; 50-million ounces of Gold Fields’ South African gold can be accessed from current paid-for infrastructure; and South African gold-miner DRDGold wants to sell control... 

GFMS keeps $1 600/oz gold forecast, Aquarius buys platinum company, Miranda accelerating coal projects

By: Martin Creamer     22nd April 2011 The price of gold is expected to break through $1 600/oz before the end of this year; Platinum miner Aquarius is buying Afarak Platinum for $109,7-million; and 

South African taxman collects R6bn in mining royalties, Russian miner, IDC to set up mining, prospecting fund, proposed Namibian uranium mine has R11bn price tag

By: Martin Creamer     15th April 2011 The South African taxman has collected R6-billion in mining royalties in his first year of collection but is concerned about transfer pricing issues, the Russian Norilsk and South Africa's State-owned Industrial Development Corporation are setting up a mining and, prospecting fund, and the ASX-... 

Randgold Resources weathers Côte d’Ivoire storm, producing to plan despite war

By: Martin Creamer     8th April 2011 Quite amazingly, Randgold Resources, the London-listed South Africa-conceived African gold mining company, has been weathering the Côte d'Ivoire storm remarkably well. Randgold CEO Dr Mark Bristow tells Mining Weekly that the company remains on track to produce more than a quarter million gold... 

Investment in mining logistics infrastructure urged, Japan quake crisis may hit Australian iron expansion, Pan African breaks ground at platinum project

By: Martin Creamer     1st April 2011 Logistics company is urging the African mining industry to invest in additional logistics capacity or face a severe shortfall in 2016; The Japan earthquake aftermath could slow Australia's iron-ore expansion plans while severe weather hits current operations; gold junior Pan African says its... 

R4bn coking coal mine envisaged in Limpopo, deal hunger evident at Toronto convention, upgrade of South African dump truck range

By: Martin Creamer     25th March 2011 Coal of Africa envisages approval for a second coking coal project in Limpopo province; everyone in mining industry was looking for a deal at the Prospectors and Developers Association of Canada convention; the uranium discovery of Australian explorer Peninsula Energy in South Africa's Karoo has... 

Sasol parcels R8bn for coal-mine replacement projects, Zimbabwe ferrochrome producer’s $300m aspiration, Minister may include private sector in key person hunt

By: Martin Creamer     18th March 2011 Oil-from-coal producer Sasol has set aside R8-billion for its coal-mine replacement programmes; the Zimbabwe Mining & Smelting Company (Zimasco) says the $300-million upgrading of its blast furnaces will start in the second half of this year; and Mineral Resources Minister Susan Shabangu may... 

ConCourt ruling may open disease claims door, South Africa only four points above Zimbabwe, mine liquidation practice needs urgent reform

By: Martin Creamer     11th March 2011 A Constitutional Court ruling has opened the door to disease claims claims against the South African mining industry;the latest Fraser Institute survey puts South Africa in one of the world's lowest rungs of investment destination hell; and South Africa’s use-it-or-lose-it principle for mining... 

New R700m Xstrata chrome mine advances, Exxaro still coy on iron-ore project details, Wits Gold wants to bring on shallow gold mine

By: Martin Creamer     4th March 2011 Global diversified mining major Xstrata is stamping its authority on the ferrochrome business with progress at the R700-million Magareng chrome mine in Steelpoort, Limpopo; Exxaro will only say that it has advanced its maiden iron-ore project into the prefeasibility study phase, but is still not... 

Anglo American planning $4,8bn S African capex, cash-gushing AngloGold set for new-era liftoff, Gold Fields’ five new concurrent gold projects

By: Martin Creamer     25th February 2011 Mining titan Anglo American plans to invest $4,8-billion in South Africa and will be the first to step up to the plate and help South African power generator Eskom with its coal needs; South African gold major AngloGold Ashanti is set for a vigorous hedge-free liftoff; and Gold Fields is... 

Worthwhile event dedicated to mining investment in Africa

By: Martin Creamer     18th February 2011 For 17 years, the Mining Indaba has brought together mining industry stakeholders to discuss investing in Africa. While this year more than 5 700 participants took part in the official proceedings – a record number – so much also takes place on the periphery of the event that than doubling that... 

Chamber slams Eskom’s heavy-handedness, backs Shabangu’s coal-cooperation call

By: Martin Creamer     11th February 2011 While the Chamber of Mines of South Africa has slammed State power utility Eskom for seeking the imposition of "heavy-handed" coal-control mechanisms, it has accepted the call for the South African coal-mining industry to work closely with government to ensure that there is adequate domestic... 

$10bn Simandou Africa’s ‘largest integrated project', Petmin enters into Liberia exploration joint venture iron-ore output to increase 50%-plus by 2015 – Vale

By: Martin Creamer     4th February 2011 Rio Tinto’s Simandou iron-ore project under construction in Guinea will be “the largest integrated mine-and-infrastructure project ever developed in Africa”. South Africa-based Petmin has entered into a $2-million agreement with Hummingbird Resources and its wholly owned subsidiary, Iron Bird... 

Petra buying De Beers Finsch diamond mine for R1,4b, TWP sourcing outside of ‘expensive’ South Africa, US Ex-Im Bank urged to end its 'fossil-fuel binge’

By: Martin Creamer     28th January 2011 The London Aim-listed Petra Diamonds is buying yet another De Beers’ diamond mine, this time the automated Finsch. Mining and minerals project house TWP is looking closely at procuring goods and services from countries that “have a more competitive cost base than South Africa”. An environmental... 

Tsavorite mine is on the cards in Tanzania, iron-ore spot prices may rise 20% this year, new flooding fears at Grootvlei gold mine

By: Martin Creamer     21st January 2011 Aim-listed coloured gemstone producer TanzaniteOne in Tanzania may build mine a tsavorite. Investment banking group Credit Suisse forecasts that iron-ore prices could rise by as much as 21% in 2011. Trade union Solidarity is concerned about the current situation at the beleaguered Grootvlei gold... 

Japan’s synthetic palladium claim met with scepticism, China’s uranium-reprocessing breakthrough claim dismissed as ‘spin’

By: Martin Creamer     14th January 2011 New Year reports of Japanese scientists achieving a synthetic palladium breakthrough and of Chinese researchers developing a technology capable of allowing the country’s uranium resources to last 3 000 years have both been met with scepticism. Read on page 12 of this edition of Mining Weekly of... 

Mineral Minister’s 2011 obligation

By: Martin Creamer     10th December 2010 In looking back on 2010, August 17, in our book, must surely go down as the most crucial day of the year for South Africa's mining industry, and for South Africa's reputation as a mining investment destination. It was on that day that South African Mineral Resources Minister Susan Shabangu... 

Wits mining school expects better first-year pass rate, Samancor opens wastewater treatment plant, CIC Energy agrees to offer from India’s JSW

By: Martin Creamer     3rd December 2010 Wits mining school, South Africa’s oldest, Witwatersrand, expects a better first-year pass rate. Professor Fred Cawood reports on page 51 0f this edition of Mining Weekly describes last year’s first-year progression rate as “nothing short of disastrous for the school”. Out of the 222 students who... 

South Africa's State mining company won't be privileged - Minister; Australia's minerals, energy capital spend hits record A$133bn; end of coal power in W Europe if carbon capture fails - IEA

By: Martin Creamer     26th November 2010 The State mining company will be treated in the same way as any private-sector mining company is treated, Mineral Resources Minister Susan Shabangu says in a video interview. 

AngloGold Ashanti’s new $700m Australian mine, BHP Billiton donates to Business Against Crime, Creamer Media launches African Mining Roundup

By: Martin Creamer     19th November 2010 The Tropicana gold project in Australia - the first fruit of AngloGold Ashanti’s global exploration programme - has received the thumbs up. Read on page 12 of this edition of Mining Weekly of the view that this is already a tier-one asset in which between $676-million to $725-million will be... 

Absence of long power price path stops gold project, Gold Fields says mining industry facing ‘headwinds’, first gold poured at new Burnstone gold mine

By: Martin Creamer     12th November 2010 New long-term electricity-intensive gold projects are being rendered unbankable in South Africa because of the uncertainty around the long-term electricity price path, says Harmony Gold CEO Graham Briggs.  

Call for govt to usher in greater enabling environment, Russia and China combine to develop coal sources, rock-watch meters, ‘snake-eye’ cameras in safety drive

By: Martin Creamer     5th November 2010 The South African government needs to put new emphasis on also enabling mining rather than only controlling it, says Coal of Africa Limited (CoAL) chairperson Richard Linnell. Read on page 12 of this edition of Mining Weekly of the dilemma in which CoAL finds itself after bringing R2-billion... 

State mining company heralds Presidential first-mine launch, but then postpones

By: Martin Creamer     29th October 2010 South Africa’s State mining company, the African Exploration Mining & Finance Corporation, has built its first mine, a coal-mine in Mpumalanga province. Mining Weekly received an invitation to attend the mine’s launch, but soon after responding in the affirmative, was told that the launch... 

South Africa must be put first when it comes to creating wealth from natural resources

By: Martin Creamer     22nd October 2010 The interests of South Africa must be placed first and foremost when it comes to maximising the wealth generated from the extraction of metals and minerals from the country’s soil. The mining industry has historically proved less than fastidious when it comes to issues of national patrimony.... 

Gold Fields liquidity strengthened as investors show voracious appetite for debut dollar bond

By: Martin Creamer     15th October 2010 International fixed-income investors have shown a voracious appetite for Gold Fields debut $1-billion bond offer, which was twice oversubscribed and which achieved the lowest dollar rate for any South African corporate this year. “The bond significantly strengthens our liquidity and debt... 

New-order rights hold up Galaxy Gold’s planned JSE listing, Oppenheimer passes De Beers DBCM baton to Petersen, early takeout attempt on incipient Royal Bafokeng Platinum

By: Martin Creamer     8th October 2010 The JSE has confirmed that gold-mining junior Galaxy Gold’s proposed JSE listing had been delayed because the company does not have new-order mining rights. Read on page 6 of this edition of Mining Weekly of the JSE’s reader panel, which generally check geological matters, have reviewed Galaxy’s... 

BHP Billiton awarded petroleum exploration rights, empowered Royal Bafokeng Platinum heads for JSE, Bauba Platinum to raise R45m for more exploration

By: Martin Creamer     1st October 2010 Mining giant BHP Billiton has been awarded petroleum exploration rights off South Africa’s West Coast. New black-controlled platinum-mining company Royal Bafokeng Platinum (RBPlat) has announced its intention to list on the JSE in the last quarter of 2010. New platinum junior Bauba intends... 

Mining Charter review: Minister chooses stick over carrot, AngloGold ‘hedge cut’ to fertilise organic growth pipeline, Optimum Coal/Eskom coal arbitration spills over into 2011

By: Martin Creamer     24th September 2010 South Africa’s new revised Mining Charter dispenses with the open hand of consensus and replaces it with the clenched fist of the law. Read on page 10 of this edition of Mining Weekly that the consensual nature of the previous Mining Charter has given way to the force of law, which could see... 

Petmin aiming to be number one anthracite miner, Rockwell to open two new diamond operations, To The Point buys antimony mine from Metorex

By: Martin Creamer     17th September 2010 JSE- and Aim-listed anthracite and silica miner Petmin, while aiming to be South Africa’s largest anthracite producer, is also keen to add other commodities to its mix. Read on page 16 of this edition of Mining Weekly of Petmin’s market capitalisation having grown from R25-million to... 

Barberton’s criminal mining smashed – Pan African, 596 retrenched after Govt halts coal mining at Vele, Evraz Highveld will look at met coal opportunities

By: Martin Creamer     10th September 2010 Police have arrested six of the seven gold-theft syndicate leaders that have been plaguing Barberton gold mines, the CEO of Pan African, Jan Nelson, reports. Read on page 6 of this edition of Mining Weekly of the security costs of the London Aim- and JSE-listed precious metals miner soaring 237%... 

Aluminium smelters unlikely to attract major capex, honouring ICC licence order in DRC’s ‘best interests’, rand ‘unceremoniously’ frays Implats platinum basket

By: Martin Creamer     3rd September 2010 Southern Africa’s aluminium smelters appear to be heading for an ex-growth future. BHP Billiton CEO Marius Kloppers, who has announced a 16%-higher $12,5-billion profit for the world’s largest mining company in the 12 months to June 30, indicates that new “ubiquitous” aluminium technology and... 

Finance Minister invites junior incentives relook, SA miners ‘going beyond knowledge limits’ – Wits, Cockerill calls for transparent mining licensing

By: Martin Creamer     27th August 2010 Finance Minister Pravin Gordhan tells Mining Weekly that he will welcome proposals on reforming the junior mining incentives that were introduced last year, but which have not been taken up because of being overly restrictive. Read on page 7 of this edition of Mining Weekly of former Finance... 

State-owned Transnet wants copper classified as ‘precious metal’, losing 1t daily to theft

By: Martin Creamer     20th August 2010 State-owned freight logistics group Transnet wants copper to be classified as a ‘precious metal’ as it continues to lose about 1 km of copper cable daily to theft, the equivalent of a ton of copper. The utility says that ongoing theft had emerged as a “significant impediment to running a... 

Gold Fields in extreme makeover for 20% margin, Merafe/Xstrata building R1bn chrome fines plant, uranium price must rise for new output – ARMZ

By: Martin Creamer     13th August 2010 JSE-listed gold major Gold Fields will be re-engineering its operations in order to achieve a minimum 20% margin after all operational and capital expenditure. Read on page 5 of this edition of Mining Weekly of Gold Fields CEO Nick Holland saying that assets failing to attain the required profit... 

Anglo, Eskom still discussing power plant possibility, Eskom positioned to meet Angloplat’s power needs, Creamer Media launches jobs portal partnership

By: Martin Creamer     6th August 2010 Diversified miner Anglo American is continuing its power discussions with South Africa’s State utility, Eskom, on the possibility of a power plant being built that would make use of Anglo’s discard coal. Read on page 10 of this edition of Mining Weekly of large volumes of discard coal, much of it... 

Study imminent on beyond-60Mt/y iron-ore exports, Keaton contract to deliver energy coal to Eskom, Simmers share price up as govt transfers Tau Lekoa

By: Martin Creamer     30th July 2010 The external concept study that is expected to shed fresh light on the expansion of the Sishen-Saldanha rail capacity beyond 60-million tons a year should be available soon.  

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