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Legislative Environment News

Distributing mining wealth fairly crucial for sustainable future

By: Guy Copans     19th September 2008 Ensuring that wealth generated from mining is distributed fairly to mineworkers is crucial to the development of South Africa, argues broad based-empowerment trusts advisory service company The Esop Shops’s Gavin Hartford. 

Mining offers hope to 'break through barriers of poverty' in Africa, says Australian High Commissioner

By: Martin Creamer     19th September 2008 Mining is the most important ‘sunrise’ industry in Africa at the moment, says the Australian High Commissioner to Africa Philip Green. Green, who addressed the Africa Downunder mining conference in Perth last week, says mining “offers as much hope as just about anything does” to break through... 

Don't hurt 'precious' mining industry in 2009 Mining Charter review, Chamber CE pleads

By: Martin Creamer     19th September 2008 South Africa’s mining sector is far too precious a national asset to have it jeopardised by investment community perceptions of uncertainty, duplicity and volatility during the upcoming review of the mining charter, says Chamber of Mines CE Zoli Diliza. Diliza, who addressed the Mining Summit in... 

DRC mining contract review nearing completion

By: Esmarie Iannucci     17th September 2008 The Democratic Republic of Congo’s (DRC’s) mining review process was in its final phase, with negotiations between the State and a number of the 61 contract holders nearing conclusion, the Ministry of Mines said this week. However, some of the contract holders still had to make “meaningful... 

Delta to contest Liberia iron-ore exclusion – CEO

By: Martin Creamer     16th September 2008 Diversified South African exploration and mining company Delta Mining Consolidated (DMC) would contest any exclusion from iron-ore development in Liberia, DMC CEO Heine van Niekerk said on Tuesday. Van Niekerk was responding to a Reuters report that the Liberian government had on Monday... 

500 Aussies do job of 3 000 South Africans – Chamber of Mines

By: Martin Creamer     10th September 2008 Five hundred Australian mine workers were able to do what it took 3 000 South African mine workers to do on comparable surface operations, Chamber of Mines vice-president Robbie Lazare said on Wednesday in response to National Union of Mineworkers general secretary Frans Baleni asserting that... 

1 000-MW power proposal to Eskom on Wednesday – Aviva

By: Martin Creamer     5th September 2008 Australia- and Botswana-listed energy coal company Aviva would be submitting a proposal to Eskom on Wednesday for the supply of 1 000 MW of additional power into the South African electricity grid, Aviva CEO Lindsay Reed said on Friday. Reed told the Africa Downunder conference in Perth that... 

Liquidity-hit London Aim companies looking at SA dual listings – JSE

By: Martin Creamer     5th September 2008 Liquidity-deprived London Alternative Investment Market (Aim) companies were looking to listing on the JSE in South Africa to enhance liquidity, JSE Limited GM Noah Greenhill said on Friday. Greenhill told the Africa Downunder conference in Perth that the JSE was a viable alternative... 

Implats can be ‘very instrumental’ in Zimbabwe’s economic reconstruction, says CEO David Brown

By: Martin Creamer     5th September 2008 The world’s second-largest platinum company Impala Platinum can be “very instrumental” in any economic reconstruction of Zimbabwe, where the company touches the lives of 50 000 people and where it is currently investing an additional R2,3-billion, says Implats CEO David Brown. Brown says that... 

Mining law amendment will ‘destroy consultation between mines and communities’, argues NGO

By: Dennis Ndaba     5th September 2008 The intentions of the Department of Mines and Energy (DME) to amend the Minerals and Petroleum Resources Development Act (MPRDA) has been strongly criticised by the Bench Marks Foundation, monitoring corporate performance, which feels the move will “effectively destroy the consultation process... 

Explorers 'really suffering', miners decry low share valuations

By: Martin Creamer     4th September 2008 Resources exploration companies were “really suffering” and the gap between midcap mining companies and explorers was “widening”, African Lion Funds manager Tim Markwell said on Thursday. Markwell, who described his fund as an early-stage resource investment fund, was one of several presenters... 

Australian aid to Africa poised to treble to A$8bn – High Commissioner

By: Martin Creamer     4th September 2008 Australia’s aid to Africa was set to more than treble to A$8-billion by 2015 on the back of the Australian mining industry’s current A$40-billion investment in the Sub-Saharan resources sector, the Australian High Commissioner to South Africa Philip Green said on Thursday. Green told the Africa... 

Botswana negotiating ‘far earlier, accelerated power’ – Minerals Minister

By: Martin Creamer     4th September 2008 Botswana was negotiating an “accelerated” power programme to deliver more electricity “far earlier”, Botswana Minerals, Energy and Resources Minister Ponatshego Kedikilwe said on Thursday. Kedikilwe told the Africa Downunder conference in Australia that he would “pat himself on the back” if he... 

Major miners resisting self-generation, but juniors stepping up to the power plate

By: Leandi Kolver     29th August 2008 Major South African deep-level miners want to stick to mining and avoid generating their own electricity - except when it comes to emergency power. However, emerging miners are taking self-generation in their stride, examples being South Africa’s Wesizwe Platinum and Australia’s Braemore... 

Alaskans keep the door open to mining industry

By: Liezel Hill     27th August 2008 Voters in Alaska this week appear to have voted against a clean-water initiative that could have threatened the future of the mining industry in the US's most northerly state. According to unofficial figures available on Wednesday, 57% of voters voted “no”to the measure, which proposed to block... 

JCI insists merger with R&E still possible

By: Liezel Hill     27th August 2008 The fact that fraud-riddled South African companies JCI and Randgold & Exploration (R&E) had not met a self-imposed deadline to settle back-and-forth claims between the two firms, did not rule out the possibility of a merger, as originally recommended by mediators last year, JCI said on... 

Kyrgyz court dismisses case against Centerra project

By: Liezel Hill     27th August 2008 An interdistrict court in the Kyrgyz Republic has dismissed a lawsuit filed by the country's vice-speaker of Parliament against agreements between the government and Toronto-based Centerra Gold, the company said in a statement. The lawsuit challenged agreements which gave the company the right... 

Anooraq gets key approvals for Angloplat transactions

By: Liezel Hill     26th August 2008 TSX- and JSE-listed Anooraq Resources has received approval from the South African Competition Commission, as well as the country's Reserve Bank, for its acquisition of an effective 51% stake in the Lebowa platinum mine, from Anglo Platinum, as well as an additional 1% interest in the company's... 

R&E claims billions from third parties after JCI agreement fails

By: Matthew Hill     26th August 2008 Fraud-battered mining firm Randgold & Exploration (R&E) on Tuesday further lifted the lid to the Pandora’s box of claims that it has instituted against third parties, after it failed to reach an agreement with JCI. The formerly Brett Kebble-headed company has lodged billions of rands worth of... 

Uranerz reports permitting milestone for Wyoming mine

By: Liezel Hill     25th August 2008 TSX- Amex- and Frankfurt-listed Uranerz Energy Corporation's application to build and operate an in-situ recovery uranium mine has been deemed “complete” by the Wyoming Department of Environmental Quality, the company reported on Monday. The review process will now move to the next stage, which... 

BHP asks SA competition authorities to set aside summons over Rio bid

By: Matthew Hill     25th August 2008 Diversified resources firm BHP Billiton this week would present an urgent application to South Africa’s Competition Tribunal to set aside a summons regarding information the watchdog wants for its evaluation of the miner’s proposed acquisition of Rio Tinto. The Tribunal said in a statement that... 

Crystallex hope renewed for Venezuela mine permit

By: Liezel Hill     22nd August 2008 Toronto-based Crystallex International, while still some way from the home stretch in its pursuit of approval to build a gold mine in Venezuela, appears to at least be gaining ground, after project changes proposed by the company got the thumbs up from the country's Ministry of the Environment... 

Report on alleged Angloplat human rights abuses expected by month-end

By: Matthew Hill     22nd August 2008 Anglo Platinum, the biggest producer of the precious metal, should have the report on its alleged human rights abuses by the end of the month, the South African Human Rights Commission (SAHRC) said on Friday. “The investigation has been completed, and we are just going through the findings,”... 

BHP-Rio deal could push up iron-ore prices ‘significantly’ – regulator

By: Creamer Media Reporter      22nd August 2008 Australia’s competition watchdog warned on Friday that a merged BHP Billiton and Rio Tinto might be able to, and want to, influence global iron-ore supply and prices. This could lead to steelmakers paying “significantly” higher prices for the raw material, the Australian Competition & Consumer... 

Perception that miners do not receive support from DTI is erroneous – Deloitte

By: Leandi Kolver     22nd August 2008 There is a perception in the mining industry that it does not receive adequate support from the Department of Trade and Industry (DTI), in the form of grants because there is a special capital expenditure tax deduction system available for mining companies. 

Namibia uranium mine cleared for takeoff after mining licence awarded

By: Liezel Hill     21st August 2008 Toronto-based Forsys Metals has been granted a mining licence for its Valencia uranium project, in Namibia, and can now go ahead with full-scale development of the project, the company announced on Thursday. The 25-year nuclear fuel licence was only the second of its kind to be awarded in the... 

Finance Minister Manuel softens royalty stance, opts for Ebit

By: Martin Creamer     21st August 2008 South African Finance Minister Trevor Manuel on Thursday softened his hard stance on mining royalties and opted for formulae-based royalty rates that would use earnings before interest and tax (Ebit), with full capital expensing, rather than earnings before interest, tax,depreciation and... 

Empowerment deals for two Metorex mines expected ‘in month or two’

By: Matthew Hill     21st August 2008 JSE-listed mining house Metorex is aiming to conclude black economic-empowerment deals for its Vergenoeg and Consolidated Murchinson (ConsMurch) operations “within the next month or two”, CEO Charles Needham said on Thursday. Needham said that the company was “quite far down the line” in... 

Safety audit report to be released 'soon' – DME

By: Matthew Hill     20th August 2008 Government has completed audits on all the 300-plus high-risk mines, ordered by South African President Thabo Mbeki, and will release the report “soon”, an official said on Wednesday. “The report has been finalised,” Department of Minerals and Energy (DME) chief inspector of mines Thabo Gazi... 

JCI, R&E extend settlement deadline to next week

By: Matthew Hill     19th August 2008 The late Brett Kebble-run companies, Randgold & Exploration and JCI, have extended the deadline to sign a settlement agreement to August 25, they said on Tuesday. This was after they reached an understanding on July 22, which would see each company transferring various shares to the other, which... 

BHP says Rio takeover makes ‘more sense than ever’

By: Matthew Hill     18th August 2008 Resources colossus BHP Billiton said on Monday that a merger with smaller rival Rio Tinto “makes more sense than ever”, and that its original acquisition timetable remained intact. CEO Marius Kloppers said that BHP Billiton remained focused on seeing the deal through to conclusion, which he... 

Private-equity markets now a major source of funds for junior miners

By: Brindaveni Naidoo     15th August 2008 Private equity markets are becoming increasing important in funding the junior mining sector, particularly in South Africa, said JSE-listed financial service group Rand Merchant Bank investment banking resource finance division’s Dr Leigh Bregman 

Export of unbeneficiated raw chromite ore from South Africa ‘suicidal’, Merafe CEO Steve Phiri reiterates 

By: Martin Creamer     15th August 2008 The continued, growing and unbridled export of unbeneficiated raw chromite ore from South Africa is long-term “suicide”, Merafe Resources CEO Steve Phiri warns. 

'Too early too tell' cause or effect of latest Cigar Lake setback – Cameco's Grandey

By: Liezel Hill     14th August 2008 Cameco Corporation CEO Jerry Grandey determinedly refused to hazard any guesses on Wednesday about what had caused the sudden rapid inflow of water into the beleaguered Cigar Lake project that forced the company to halt pumping and repair work earlier this week. Although he conceded that the... 

Lonmin outlines growth prospects in bid to fend off Xstrata takeover

By: Matthew Hill     13th August 2008 Xstrata takeover target Lonmin on Wednesday voiced its rejection of the diversified miner’s offer, highlighting its “outstanding growth prospects from 2008's low point”. The world’s third-biggest platinum producer reiterated that the £33 a share bid, announced one week ago, did not offer its... 

DRC govt wants mining contract review wrapped up this year – Anvil

By: Liezel Hill     12th August 2008 The "encouraging" message coming from the government of the Democratic Republic of Congo (DRC) was that it wanted to conclude the review and renegotiation of mining contracts in the country by September or October, Anvil Mining president and CEO Bill Turner said on Tuesday. “There is some light... 

Negotiating period for AK6 mining licence extended

By: Matthew Hill     12th August 2008 London- and Botswana-listed African Diamonds (AFD), which was battling De Beers over a project in Botswana, on Tuesday said that the country’s government had extended the negotiation period for the AK6 mining licence to September 30. AFD MD James Campbell was confident that the negotiations... 

Sentula probing the intent behind accounting errors

By: Matthew Hill     12th August 2008 JSE-listed Sentula Mining on Tuesday said that it was probing “the intent behind” the past management’s accounting irregularities that led to the restatement of its 2007 financial results. CEO Robin Berry told Mining Weekly Online that the company planned on publishing the findings of the... 

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