News This Week

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Photo of Week

EYEING COAL EXPORT MARKET

By: Martin Creamer 28th August 2009 Exxaro CEO Sipho Nkosi, above, is seen at the diversified South African mining company's announcement of results for the first six months of 2009. The coal business was again the star performer, reporting a 10% increase in net operating profit to R1-billion on higher sales volumes to Eskom and... →

STANDOUT RESULTS

By: Martin Creamer 21st August 2009 Glyn Lewis, the CEO of Northam Platinum, had a standout performance in the year to June 30 in that he kept the world's deepest, hottest and most potholed Northam mine cash-positive after capital, and looked forward to entering a new era of diversity by developing the first decline of the shallow,... →

THE TEAM’S IN PLACE

By: Martin Creamer 14th August 2009 Pensive Gold Fields CEO Nick Holland, closest to the camera, had his new full team in place at the presentation of fourth-quarter and 2009 financial year results, at which a capital expenditure programme of R8,5-billion for the financial year to June 2010 was announced. Gold Fields will invest... →

RECORD EARNINGS

By: Martin Creamer 7th August 2009 CEO Mark Cutifani is cock-a-hoop at AngloGold Ashanti’s record second-quarter (Q2) headline earnings, on improved performances at the troubled Geita, in Tanzania, and Obuasi, in Ghana. Geita increased production by 43%, to 63 000 oz, and cut costs by 14%, and Obuasi lifted production by 10%, to... →

PLATINUM BENEFITS FOR 350 000

By: Martin Creamer 31st July 2009 PLATINUM BENEFITS FOR 350 000 –The listing on the JSE of midtier platinum-miner Platmin, in which Brian Gilbertson’s Pallinghurst has a 51% interest, is said to be a platform for the company’s black economic Bakgatla Ba Kgafela empowerment partners to participate at listed ownership level.... →

SWINGING SHAREHOLDERS

By: Martin Creamer 24th July 2009 Kalagadi Resources shareholders going down the mine’s main shaft during a site visit in the Northern Cape, on Wednesday, July 15, 2009. A number of the women-led black-owned manganese company’s shareholders are from near-mine communities and includes disabled people. →

LEADING ANGLO'S DEFENCE STRATEGY

By: Martin Creamer 17th July 2009 Xstrata-pursued Anglo American last Friday disregarded a publicly expressed Ministerial wish that a black South African be appointed as the nonexecutive chairperson of the company and instead moved quickly to extinguish rising South African expectations by revealing, in a crack-of-dawn... →

HIDDEN VALUE

By: Martin Creamer 10th July 2009 Harmony Gold CEO Graham Briggs, in projecting a 3% increase in total gold production in the June quarter, also reported the first gold ore being milled at Hidden Valley, in Papua New Guinea, the exposed and unhedged Harmony’s only access to dollar-priced gold, which is key currently owing to the... →

XSTRATA RIDE

By: Martin Creamer 3rd July 2009 The chairlift ride of this Xstrata mineworker seems far smoother than Xstrata’s current less-than-smooth overture to Anglo American. Xstrata wants an all-share merger of equals that has no shareholder premium or worker retrenchment, but Anglo remains steadfastly unconvinced of the proposed... →

HAPPY DAYS

26th June 2009 Zhou Zhongshu, president of China's Minmetals, left, shakes hands with Andrew Michelmore, the CEO of the newly-launched Minerals and Metals Group (MMG), at a function in Melbourne, Australia, last week. The company emerged following a $1,4-billion deal through which Minmetals bought mines from OZ... →

POWER STRUGGLE

19th June 2009 Dick Kruger, techno-economic adviser to South Africa's Chamber of Mines, at recent public hearings into Eskom's application to the National Energy Regulator of South Africa for an "interim" 34% increase for the 2009/10 financial year. Kruger argued that, while the utility should be granted a... →

R150M CAPEX ON WAY AT KENDAL

By: Martin Creamer 12th June 2009 Journalists converged on Kendal colliery last week to get a first-hand squiz of the mine that is the flagship of the Toronto-listed Homeland Energy. Homeland is intent on increasing output at Kendal to 180 000 t/m during 2010. Pictured middle-right is the opening of a third boxcut, which is... →

CHINESE FINANCE DOWN UNDER

By: Martin Creamer 5th June 2009 Debt-laden Australian zinc-miner Oz Minerals wants to clear itself of debt by selling $1,2-billion of its assets to State-owned Minmetals, of China. But Australian institutions are putting the proposed deal through a series of regulatory hurdles. Chinese institutions are throwing their weight... →

MODDER EAST GOLD REE

By: Martin Creamer 29th May 2009 Gold junior Gold One, formerly Aflease Gold of South Africa, and BMA Gold of Australia last week clinched the first-ever dual primary Johannesburg and Sydney stock exchange listings. Gold One CEO Neal Froneman (right) shows Mining Weekly editor Martin Creamer gold reef from Gold One’s new... →

MIGRATING EXPERIENCE

By: Martin Creamer 22nd May 2009 MIGRATING EXPERIENCE – The Chamber of Mines has noted the appropriateness of former Deputy Minerals and Energy Minister Susan Shabangu being allowed to graduate to full Mining Minister status. Migrating experience is a rare occurrence when it comes to South Africa’s Cabinet appointments. The new... →

ALL-IN-COSTING PIONEER

By: Martin Creamer 15th May 2009 Gold Fields CEO Nick Holland is continuing to campaign for all-in costs to be reflected by gold companies. His praiseworthy introduction of the concept of notional cash expenditure (NCE) is an important reform and gets away from gold companies shouting their cash costs from the rooftops but not... →

IN THE STUDIO

By: Martin Creamer 8th May 2009 Creamer Media has become the first African organisation to ink a deal with global media group Thomson Reuters for the provision of video content within Reuters Insider. In the studio for this Mining Weekly Online broadcast is Rockwell Diamonds CEO Dr John Bristow (right) being interviewed by... →

FROM DEFICIT TO SURPLUS

By: Martin Creamer 1st May 2009 The drop in demand for platinum and palladium from the auto catalyst sector would lead to reductions in overall demand, says GFMS CEO Paul Walker, seen above chatting to attendees at the Standard Bank-backed function at the Westcliff, in Johannesburg. Walker says that platinum is likely to trade... →

MARATHON MERGER COLLAPSE

By: Martin Creamer 24th April 2009 After years of haggling, shareholders have finally voted down the formal merging of the mining companies JCI and Randgold & Exploration (R&E), and then immediately proceeded with what may become an informal equivalent. Both JCI and R&E operated in the past under the leadership of the... →

THE GOLD PRICE

By: Martin Creamer 17th April 2009 The latest GFMS gold survey is firm that the gold price will continue to trend upwards, but once again GFMS CEO Paul Walker is not prepared to wager his own golden locks on the price going above $2 000/oz. He won his bet against former Gold Fields CEO Ian Cockerill that gold would not scale the... →

WORLD’S LARGEST MINING FUND MANAGER

By: Martin Creamer 10th April 2009 Evy Hambro, MD of BlackRock Investment Management, speaks during a news conference in Singapore, on Monday, March 30, 2009. BlackRock is the manager of the world’s largest mining funds. →

MIDYEAR JSE LISTING

By: Martin Creamer 1st April 2009 Ian Watson, above, the former CEO of Northam Platinum and the current CEO of TSX- and Aim-listed emerging platinum-mining company Platmin, hopes to lead the firm to a JSE listing by midyear. →

SAFETY SUMMIT SHOCK

By: Martin Creamer 27th March 2009 Exxaro Resources CEO and Chamber of Mines president Sipho Nkosi (above) has put himself squarely in charge of mine safety at the Exxaro operations and staged a CEO safety summit at the CSIR Convention Centre last week. His effort followed Anglo American CEO Cynthia Carroll’s safety summit last... →

MARATHAN MEETING

By: Martin Creamer 20th March 2009 The JCI and Randgold & Exploration (R&E) hearing into the merging of the former companies of controversial, deceased mining magnate, Brett Kebble was last week once again adjourned, this time to April 29. JCI CEO Peter Gray, with clock ticking by on right, told the meeting that JCI had come to an... →

LEAN TIMES BUT NO CASH BURN

By: Martin Creamer 13th March 2009 Ferrochrome producer Merafe had a fourfold earnings increase in 2008, but has no illusions about the lean times that have befallen the industry. Merafe CEO Steve Phiri (foreground) and Merafe CFO Stuart Elliot (background) reported that the second-half fall in demand was continuing into 2009. →

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Investment-linked applications should be automatically approved if set deadlines are not met

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HOME TO ROOST

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Sabodala-Massawa mine, Senegal

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Lusanda Raphulu

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