Anglo achieves its best ever safety record, but reiterates commitment to zero harm

Mining major Anglo American has achieved its lowest ever total recordable injury frequency rate of 1.78 in 2023, down from 2.19 in 2022, along with the company’s lowest ever monthly rate of 0.91 in... 

Anglo to focus on cost cutting following disappointing 2023 performance

Mining major Anglo American chairperson Stuart Chambers and CEO Duncan Wanblad have both expressed disappointment with the company’s financial results for 2023, which were released on February 22.... 

Integration of Vale’s Serpentina resource has potential to expand Anglo’s Minas-Rio output

Diversified miner Anglo American has agreed to acquire, from Brazilian iron-ore miner Vale, the high-quality Serra da Serpentina iron-ore resource and integrate it into its contiguous Minas-Rio... 

New infrastructure finance, implementation support agency to be established to support PPPs

National Treasury has revealed the planned establishment of an infrastructure finance and implementation support agency during the 2024/25 fiscal year to coordinate the planning and preparation of... 

DBSA’s new Project Vumela financing instrument to help municipalities fund bulk infrastructure investment

Development finance institution Development Bank of Southern Africa (DBSA) has introduced a new financing instrument called Project Vumela, which blends municipal revenue sources with financing... 

Mining tax revenue down by 50.4% y/y

With various commodity prices taking a nosedive over the past year, windfall tax gains from high commodity prices over the preceding two years have come to an end, resulting in a sharp fall in... 

Criminal Asset Recovery Fund, not fiscus, to fund SANDF’s war on illegal mining

The Portfolio Committee on Defence and Military Veterans has claimed that the deployment of the South African National Defence Force (SANDF) in support of the South African Police Service to... 

NEV producers will be able to claim 150% of their investment spend in 2026

To encourage the production of new energy vehicles (NEVs) in South Africa, Finance Minister Enoch Godongwana has proposed that an investment allowance be made available for new investments from... 

Global corporate tax minimum to be implemented this year

In an effort boost tax revenue going forward, government will be implementing the long-awaited global corporate tax minimum in the coming year, Finance Minister Enoch Godongwana revealed upon the... 

70 out of 72 municipalities approved for Eskom debt relief

Out of 72 municipality applications for State-owned Eskom debt relief, 70 have been approved, Finance Minister Enoch Godongwana revealed in his 2024 Budget on February 21. The 72 applicants... 

No change to fuel levies this year, Godongwana says

Government has decided once again to leave the general fuel levy and Road Accident Levy Fund unchanged, resulting in tax relief of about R4-billion. This was announced at the release of Finance... 

Gauteng govt has yet to show how it will finance its portion of GFIP debt

The Gauteng provincial government has yet to show how it will fund its previously agreed 30% contribution of R12.9-billion of the total outstanding debt of R47-billion for phase 1 of the Gauteng... 

Metals, engineering output up 1.7% but still far below 2008/9 peak

While aggregate production in the South African metals and engineering sector increased by 1.7% last year, which is slightly higher than the 1.5% increase in 2022, it remains 18% below where it was... 

Amplats restructuring may impact 3 700 jobs after 71% y/y earnings decline

Despite the “extensive measures” already taken by platinum group metals (PGMs) miner Anglo American Platinum (Amplats) to ensure its survival, the company has announced a proposed restructuring... 

Petra sold $47.8m worth of diamonds in fourth tender

Diamond producer Petra Diamonds sold 428 900 ct for $47.8-million during its fourth tender cycle of the 2024 financial year. This represents a 4% increase in like-for-like prices compared with the... 

Can SA mining prevent more hostage dramas in 2024?

Since October of last year, several unlawful underground protests have raised serious concerns about the potential emergence of a new trend in which frustrated underground mineworkers turn to... 

Metals and engineering employers, trade unions sign landmark relationship agreement

Employers and trade unions who attended a Metal and Engineering Industries Bargaining Council (MEIBC) meeting on January 31 have signed a landmark process or relationship agreement, paving the way... 

Can SA mining prevent more hostage dramas in 2024?

Since October of last year, several unlawful underground protests have raised serious concerns about the potential emergence of a new trend in which frustrated underground mineworkers turn to... 

Majority of investors want short-term wins over long-term ESG gains, poll shows

According to a poll taken at the South African Real Estate Investment Trust 2024 conference, more than 57% of delegates in attendance believe investors are unwilling to sacrifice short-term wins... 

Up to 12% of Gauteng motorists still paying their e-toll bills, says Outa

Between 10% and 12% of road users in Gauteng are still paying for e-tolls, despite the October 2022 announcement by Finance Minister Enoch Godongwana that e-tolls would be scrapped, Organisation... 

DRDGOLD reports near R1bn operating profit despite 7% production dropoff

Despite its gold production for the six months to December 31, 2023, having decreased by 7%, owing to a 13% drop in throughput, DRDGOLD managed to return an operating profit of R909.3-million, with... 

DRDGOLD says dust control measures seem to be working

JSE-listed DRDGOLD has reported that only 0.6% out of 632 dust monitoring sites registered an exceedance in terms of the stipulated regulatory thresholds across its operations. “Because our... 

Bambili close to finishing feasibility study on hydrogen fuel cell power system for Anglo’s head office

Diversified mining major Anglo American has selected hydrogen energy solutions company Bambili Energy to deploy a 2 MW hydrogen fuel cell power system lighthouse project to provide electricity at... 

Radisson added more than 3 800 new rooms in Middle East, Africa last year

Radisson Hotel Group signed 22 additional hotels, resorts and serviced apartments in 2023, adding more than 3 800 rooms to its Middle East and Africa regional portfolio. Globally, the group wrapped... 

South Africa looks to Japanese collaboration on green hydrogen development

The Japan External Trade Organisation (Jetro) this week hosted key South African private and public sector delegates and a high-profile Japanese business delegation at a green hydrogen seminar, in... 

High-profile Japanese delegation to visit South Africa to explore hydrogen potential

The Japan External Trade Organization (Jetro) in Johannesburg will be hosting a high-profile Japanese business delegation from February 12 to 16. Comprising 27 representatives from various... 

Premier publishes new mineral resource estimate for Zulu project

Aim-listed Premier African Minerals has published a new South African Mineral Resource Committee- (Samrec-) compliant mineral resource estimate (MRE) for its wholly-owned Zulu lithium and tantalum... 

Akobo secures NKr6-million bridge loan from shareholders

Scandinavian gold exploration and mining company Akobo Minerals has secured a NKr6-million bridge loan. As part of the ongoing efforts to secure new funding, the company said on February 9 that it... 

Barrick grows its reserve base for third successive year

NYSE- and TSX-listed Barrick Gold has reported growth in attributable proven and probable gold mineral reserves by five-million ounces before 2023 depletion, while also striving to maintain the... 

Sasol warns of lacklustre interim results amid volatile macroeconomic environment

Energy and chemicals company Sasol has attributed its “underwhelming” upcoming financial results for the six months ended December 31, 2023, to continued volatility in the macroeconomic... 

Downstream companies implore ArcelorMittal South Africa, govt to avoid long steel plant closures

The South African downstream steel industry has urgently appealed to both steel producer ArcelorMittal South Africa (AMSA) and the government to find immediate solutions that will allow the... 

Sacci business confidence index shows incremental improvements

The South African Chamber of Commerce and Industry (Sacci) has revealed that its business confidence index (BCI) for December last year reached a notable 112.1, marking the second-highest level for... 

African Pioneer extends Ongombo prospecting licence, upgrades mineral resource estimate

London-listed exploration and resource development company African Pioneer has been notified that the exclusive prospecting licence (EPL) 5772, 40 km northeast of Windhoek, Namibia, has been... 

De Beers’ fourth-quarter rough diamond production down 3% y/y

Diamond producer De Beers reported on February 8 that its 2023 fourth-quarter rough diamond production had decreased by 3% year-on-year to 7.9-million carats, primarily owing to the planned... 

Transnet problems force Kumba to moderate output

Anglo American subsidiary Kumba Iron Ore CE Mpumi Zikalala has reiterated that State-owned Transnet’s rail performance challenges have placed so much pressure on Kumba’s value chain that the... 

Madison reports high-grade uranium discovery at Khan

Upstream uranium mining and exploration company Madison Metals has discovered a high-grade uranium mineralisation at Anomaly 5, located within the company’s Khan project at Madison West in... 

Goldplat’s Ghana business excels while South African op stumbles

Aim-listed mining services group Goldplat has reported an “exceptional” second quarter at its gold recovery business in Ghana, achieving an operating profit of £1.82-million, up from about... 

Bora buys into Steenkampskraal as strategic partner

Mining services company Bora Mining Services (BMS) has acquired a share in the Steenkampskraal monazite mine, in the Western Cape, for an undisclosed sum as a strategic partner.  The partnership... 

Mingomba discovery highlights value of Konkola West by proximity

Aim-listed Tertiary Minerals has highlighted the promise of its Konkola West copper project, in Zambia, thanks to its close proximity to the Bill Gates and Jeff Bezos-backed KoBold Metals’ Mingomba... 

Kamoa-Kakula, Trafigura become first Lobito railway corridor customers

The Kamoa-Kakula Copper Complex, in the Democratic Republic of Congo (DRC), and commodities trader Trafigura have both signed a term sheet outlining the key terms for a reserve capacity agreement...