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Photo of Week

PULLING GOLDEN LEVERS

By: Martin Creamer     16th August 2013 New AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) is seen telling the media of the revenue and cost-cutting levers he will be pulling in the next 18 months. Revenue will be leveraged by 550 000 oz of new gold from the Tropicana project in Australia and the Kibali project in the... 

‘REPOSSESSION’ RHETORIC

By: Martin Creamer     9th August 2013 Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa at a media briefing last Friday at which called on the State to “repossess” mines that were not profitable and, either award those mining licences to other companies, or run the mines itself. AMCU is demanding... 

DEATH MARS SAFEST SIX MONTHS

By: Martin Creamer     2nd August 2013 The first six months of this year was the safest ever period of operation of Anglo American Platinum (Amplats), the lost time injury frequency rate improving 24% from 1.36 to 1.04. However, Amplats CEO Chris Griffith, shown at last week’s results presentation, lamented that one employee had lost... 

INDIA EXPECTED TO IMPORT MORE COAL THAN CHINA

By: Martin Creamer     26th July 2013 India is expected to import more power station coal than China by 2014. Local production is not meeting demand. India’s Coal Ministry wants to increase underground production, which, in 2012, was 51-million tons, compared with 557-million tons in total. In this picture, a worker carries a basket... 

WHERE ZIMBABWE CRASHED INTO SOUTH AFRICA

By: Martin Creamer     19th July 2013 Platinum Group Metals (PTM) president and CEO Mike Jones holding a new piece of Bushveld reef that is not Merensky, Upper Group Two or Platreef, but a newly named T-reef, which arose after a geological collision of the Zimbabwe and Kaapvaal cretons. An unusual aspect of the TSX-listed company’s T... 

BOTH NEAR AND FAR

By: Martin Creamer     12th July 2013 Deputy President Kgalema Motlanthe and Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa, back to back at the mining industry summit, at the Presidential Guest House. Motlanthe acceded to AMCU’s request to be allowed to consult with its members prior to signing... 

GOLD OPTIMISM

By: Martin Creamer     5th July 2013 The executive chairperson, Duane Parnham, of the Canada-based gold exploration company, Giyani Gold, is seen giving an African-drum welcome to his company’s listing on the AltX board of the JSE last Wednesday. The group, which is also listed on the TSX-V, hopes to develop the 70-km-long and... 

STRIFE TORN

By: Martin Creamer     28th June 2013 It is in the make up of South Africans to talk things out and to reach consensus on the way forward. Deputy President Kgalema Motlanthe, who has been mandated to do just that for the strife-torn mining sector, called mining’s who’s who to a special meeting at the Presidential Guest House in... 

COMMUNITY'S POWERFUL PROTEST

By: Martin Creamer     21st June 2013 Munduruku Indians from the Amazon Basin lie on the street in Brasilia after a week-long occupation of the Belo Monte dam on the Xingu river, where a hydroelectric power plant is planned to help satisfy demand for electricity in Brazil. It is feared that the dam could result in the displacement of... 

VISIT SPARKS PROTEST

By: Martin Creamer     14th June 2013 This month’s visit of National Committee of the Chinese People's Political Consultative Conference chairperson Yu Zhengsheng, left, to Sweden, saw Falun Gong members protest what they called14 years of persecution. Atlas Copco CE Ronnie Leten is seen, right, with a mining drill in the background.... 

JACOB'S LADDER

By: Martin Creamer     7th June 2013 President Jacob Zuma has created a ladder of initiatiaves to restore order, stability and certainty in the labour-ravaged and market-whipped mining economy. The Chamber of Mines last week welcomed the President’s facilitation of meaningful interactions between government, labour and mining... 

UP AND RUNNING

By: Martin Creamer     31st May 2013 The future expansion of the now fully operational opencast manganese mine of the black-controlled, Russian-backed mining company – United Manganese of Kalahari (UMK) – will depend on how much more rail capacity becomes available for the company to use, UMK CEO Johan Kriek told Mining Weekly at... 

REIGNITING FEARS

By: Martin Creamer     24th May 2013 Mining community members walk near crosses placed at the Marikana "Hill of Horror", where 43 were killed last year. Renewed unrest at platinum mines in the Rustenburg area last week reignited fears of a repeat of what rocked South Africa last year. The platinum belt continues to be a place of... 

PINK DIAMONDS

By: Martin Creamer     17th May 2013 Members of the Miriuwung and Gidja communities in Western Australia's Kimberley region “warded off evil spirits” at the official opening of the $2.12-billion block-cave expansion at Rio Tinto's Argyle diamond mine, where one-in-four workers is indigenous. Shown is Rio Diamonds CEO Alan Davies... 

SUDANESE SMELTING

By: Martin Creamer     10th May 2013 Makeshift gold smelters, with faces concealed, engage in piecemeal, make-do processing of the precious metal prior its to weighing at a gold shop at the Wad Bushara gold mine near Abu Delelq in Gedaref State, Wad Bushara, Sudan. The earnings of Wad Bushara’s 2 000-odd workers reportedly average... 

FULLY CHINESE FUNDED

By: Martin Creamer     3rd May 2013 The China Development Bank provided loan finance of $650-million for the development of Wesizwe Platinum’s Bakubung mine-and-concentrator-plant project in South Africa's North West province. Construction of the 86 m-high headgear, on the western limb of the Bushveld Complex near Rustenburg, will... 

NEW PLAN NEEDED

By: Martin Creamer     26th April 2013 Jac Nasser, chairperson of BHP Billiton, the world’s biggest mining company, is seen at a Chamber of Commerce event in Melbourne, where he called for a new Australian mining industry plan that has national productivity at its core. At a time of falling mining fortunes, he called for a more... 

THE CAKES THAT MINING BAKED

By: Martin Creamer     19th April 2013 During the past six years, the Sishen Iron Ore Company Community Development Trust has uplifted the lives of near-mine communities in the Northern Cape and Limpopo provinces. The benefits of one of its 128 development initiatives is this 400-beneficiary Thusano Association for the Blind bakery... 

DIGGING DEEP

By: Martin Creamer     12th April 2013 Workers from the Novo Porto Consortium, a group funded by a mix of public and private agencies, look on as debris is lifted out of the Binario tunnel in Rio de Janeiro, Brazil. The tunnel is part of the $4-billion Porto Maravilha infrastructure project, which aims to revitalise the city's... 

MINING PROVIDES HALF EXPORT EARNINGS

By: Martin Creamer     5th April 2013 The mining sector provides half of South Africa’s export earnings, employs 1.3-million people and makes up a fifth of the economy, says Chamber of Mines (CoM) senor executive Roger Baxter, who is seen talking to mining analaysts and the media in Johannesburg last week. Mining contributes... 

IRON WILLED

By: Martin Creamer     29th March 2013 Sishen Iron Ore Company Community Development Trust CEO Shiphra Chisha, above, this month told a trust function in Kuruman that the ground work had been laid for the trust to realise its 2030 super plan of keeping beneficiary communities economically active well after mining ceased. South African... 

COAL CLOUT

By: Martin Creamer     22nd March 2013 Coal and power are synonymous in South Africa, which is why the unprotected strikes at Exxaro’s Eskom-serving Matla and Arnot coal-mines, in Mpumalanga, and Grootegeluk coal-mine, in Limpopo, were concerning. All resulted in production stoppages but fortunately with no immediate threat of... 

BEAUTIFUL, BEAUTIFUL BENEFICIATION

By: Martin Creamer     15th March 2013 If there is one thing that makes Minerals Minister Susan Shabangu smile very broadly, it is the beneficiation of the minerals with which South African has been abundantly blessed. BHP Billiton is a company that had her beaming from ear-to-ear last week when it launched the R1-billion expansion of... 

INSTILL CONFIDENCE

By: Martin Creamer     8th March 2013 African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe, above, makes the point that the countries that instil the highest degree of confidence in global investors are also the countries that have created the most jobs, lifted living standards highest, improved literacy most and... 

OPEN TO ALL OPTIONS

By: Martin Creamer     1st March 2013 Mark Cutifani, above, made the point in his last presentation as AngloGold Ashanti CEO that the still-bundled AngloGold Ashanti was outperforming the unbundled Gold Fields. While unbundling might not be something that automatically released momentous value, he said the company’s board remained... 

'WE ARE ONE' UP

By: Martin Creamer     22nd February 2013 Proudly South African gold company Sibanye, Xhosa for ‘we are one’, was one up on Gold Fields at the close of JSE trading last Friday, after its shares rose from an opening trade of R13.05 a share to R16.50 a share at the week’s close. In contrast, the Gold Fields share price fell 13.19% to... 

YES SIR, YES SIR, THREE BAGS FULL SIR

By: Martin Creamer     15th February 2013 Ivanhoe chairperson Robert Friedland, above, is prepared to fulfil every aspiration of the South African government as he goes about applying for a mining licence to build a brand new long-life, low-cost mechanised platinum mine in Limpopo, which he says will still be producing when we are all... 

MEDIUM-TERM FOCUS

By: Martin Creamer     8th February 2013 The fully funded Bakubung platinum project – the flagship of the JSE-listed Jinchuan-invested Wesizwe Platinum – taking shape near Rustenburg in the North West province, has its sights set on the medium term when new COO Paul Smith expects platinum prices to have recovered from the current $1... 

'THEY HAVE STOLEN OUR MONEY'

By: Martin Creamer     1st February 2013 “They have stolen our money” are the five words that were reiterated in the often-heated Xolani Gwala-hosted national radio debate on SAfm's AMLive last week, when ANC secretary-general Gwede Mantashe, above, said in reference to the proposed downsizing Anglo American Platinum (Amplats): “They... 

LAW-ABIDING PLEDGE

By: Martin Creamer     25th January 2013 The Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa (right), seen with AMCU national treasurer Jimmy Gama (left) promised at last Thursday’s media conference that the union would be law-abiding at all times. “Everything we do, we will do according to the law,”... 

CASTING A BIG SHADOW

By: Martin Creamer     18th January 2013 Mark Cutifani, the news Anglo American CEO designate, will receive basic pay of £1.2-million (R17-million) a year, plus participate in the yearly bonus share plan incentive and other perks that could take his pay to $13-million (R111-million) a year – a far cry from the A$126 in his first pay... 

GIVING IT STICK

By: Martin Creamer     14th December 2012 Gordon Institute of Business Science (GIBS) head Nick Binedell gave outgoing Anglo American CEO Cynthia Carroll stick last week – a Zulu fighting stick to be exact, which Carroll is seen clutching following her powerful speech in which she urged all South Africans to work for a better mining... 

GROWTH AMBITIONS

By: Terence Creamer     7th December 2012 South Africa’s State-owned Industrial Development Corporation has acquired Anglo American’s 74% interest of Scaw Metals for R3.4-billion. The remaining 26% of the company, which produces steel and a range of steel products for the mining and infrastructure markets, is divided between a black... 

THIS YEAR'S BiGGEST

By: Martin Creamer     30th November 2012 Xstrata CEO Mick Davis is seen on his way from a shareholder's meeting in Zug, Switzerland, on Tuesday, Nov 20, 2012, after investors approved the $31-billion takeover of Xstrata plc by Ivan Glasenberg's Glencore International plc, this year’s biggest corporate transaction. Both Davis and... 

ALUMINIUM PROLIFERATION

By: Martin Creamer     23rd November 2012 State-owned Vietnam mining company Vinacomin is building Vietnam’s first alumina refinery, which is being funded by consortium of foreign banks led by Citi Vietnam. The Vietnamese government is guaranteeing the $300-million 13-year loan for the $460-million, 630 000 t/y Tan Rai alumina plant in... 

MINING IN GREENLAND

By: Martin Creamer     16th November 2012 Business intelligence firm GlobalData reports that reserves of gold, diamonds, zinc, platinum, nickel, iron and rare-earth elements have come within reach of geological land mapping technologies in Greenland as a result of receding ice. Greenland’s Bureau of Minerals and Petroleum has awarded 150... 

CAUGHT NAPPING

By: Martin Creamer     2nd November 2012 This striking miner, caught napping at an AngloGold Ashanti mine in Carletonville, is by no means the only one of us who has been caught off guard by the series of mortifying mining industry strikes that wracked South Africa. By failing to put an end to the repugnant migrant labour system, all of... 

CALM IN STORM

By: Martin Creamer     26th October 2012 A woman sits beneath a recruiting billboard for the National Union of Mineworkers (NUM) near Rustenburg in the North West province, scene of death and destruction in the once-proud platinum belt. Dismissals have been shrugged off by striking workers, who persist with their withdrawal of labour... 

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