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Jul 31, 2015
Jul 31, 2015
Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for...
Jul 31, 2015
Representative unions in the gold mining industry – the Associations of Mineworkers and Construction Union, the National Union of Mineworkers, Solidarity and UASA – are expected to revert back to the Chamber of Mines (CoM) in the next week, on whether their members...
Jul 31, 2015
Underground tunnel development at Southern Africa-focused diamond developer DiamondCorp’s Lace diamond mine, in the Free State, is proceeding slower than planned, owing to fractured ground close to old workings; however, the development work in the Upper K4 (UK4)...
Jul 31, 2015
Kalagadi Manganese executive chairperson Daphne Mashile-Nkosi has been recognised for her business acumen and ability to execute successful business strategies. She was this week bestowed the 2015 Africa Female Business Leader of the Year Award and a special...
Jul 31, 2015
While artisanal and small-scale mining (ASM) plays a fundamental role in the South African economy, as it helps reduce poverty and creates jobs for rural communities, the artisanal mining aspect has been labelled as illegal. This is because of the blurred delineation...
Jul 31, 2015
A study for the debottlenecking of the Kipoi solvent extraction and electrowinning (SX-EW) plant, in the Democratic Republic of Congo, has revealed that copper production could be increased from the nameplate capacity of 25 000 t/y to 32 500 t/y. Project owner Tiger...
Jul 31, 2015
TSX- and NYSE-listed Nevsun Resources on Friday revised its 2015 production guidance downwards to 140-million to 150-million pounds of copper owing to unplanned plant stoppages during the first half of the year. Output from the Vancouver-headquartered firm’s Bisha...
Jul 31, 2015
Jul 31, 2015
Jul 31, 2015
Jul 31, 2015
 
 
 
Jul 31, 2015
The rapid growth of Africa’s mining industry, and particularly in Central Africa, is being mirrored in the mining explosives and chemicals market, research firm Frost & Sullivan reports. Through new analysis, the firm has found that almost 65% of major and minor...
Jul 31, 2015
Miners' output costs have dropped more than industry consensus due to lower energy prices and weak emerging market currencies, a report by Societe Generale showed, suggesting metals prices have further to fall before miners are forced out of business. The prices of...
Jul 31, 2015
Updated 4 hours ago Onshore and offshore oil and gas industry veteran Roderick Keith MacLeod has been appointed as the new chairperson for the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB), which is responsible for the regulation of petroleum activities in the Nova Scotia...
Jul 31, 2015
Updated 7 hours ago Canada’s Potash Corporation of Saskatchewan (PotashCorp) on Thursday reiterated its intentions to buy German rival K+S, saying it was prepared to make binding commitments to motivate its target’s management, which had so far rebuffed the unsolicited offer....
Jul 31, 2015
Gold miner Newmont Mining will reach a decision on the possible expansion of its Tanami operation later this year. Newmont’s Asia Pacific leader Tom Palmer told the WA Mining Club this week that the company’s Full Potential programme had seen a 22% increase in...
Jul 31, 2015
Africa's largest steelmaker ArcelorMittal South Africa said on Friday its half-year losses widened amid lower international demand and a weak economy in its home market. Its headline loss per share rose to nearly 25 cents per share for the six months ended 30 June...
Jul 31, 2015
The share price of ASX-listed RNI increased by 60% on Friday as the company announced plans to sell its Western Australian gold assets to fellow-listed Metals X. The two parties have executed a binding heads of agreement under which RNI would divest of its...
Jul 31, 2015
Uranium miner Energy Resources of Australia (ERA) has reported a net loss of $255.3-million for the six months ended June 30, owing to a $197-million impairment charge. ERA had previously warned shareholders of the massive write-off, following the deferral of the...
Jul 31, 2015
A definitive feasibility study (DFS) into the Mt Peake vanadium-titanium-iron project, in the Northern Territory, has attached a capital cost of A$970-million to develop the project. ASX-listed TNG on Friday said the Mt Peake project would generate a pretax internal...
Jul 31, 2015
ASX-listed Energy Development has inked an agreement with mining major Anglo American for the development of a waste coal mine gas power station at the Grosvenor metallurgical coal mine, in Queensland. Grosvenor is Anglo American’s $1.9-billion flagship underground...
 
 
 
 
Jul 31, 2015
Gold miner Kingsgate Consolidated has reported higher production of 55 601 oz for the three months to June 30, compared with the 34 538 oz produced in the previous quarter. The higher output was owing to its Chatree mine, in Thailand, having resumed operations in...
Jul 30, 2015
Mexican mining, rail and infrastructure company Grupo Mexico said on Thursday that it was looking at partnering up with companies to bid in the second phase of Mexico's first round of oil field auctions. "We are looking at joint ventures with strategic players,...
Jul 30, 2015
The world’s largest gold miner by output Barrick Gold has agreed to sell half of its interest in the Zaldívar copper mine, in Chile, to Antofagasta for $1-billion in cash, forming a partnership with one of the world’s largest copper producers. Barrick was in the...
Jul 30, 2015
Canada’s top uranium producer Cameco on Thursday reported a 31% slide in net earnings as higher costs and a C$28-million settlement charge weighed-down its bottom line. Net earnings attributed to equity holders for the quarter ended June 30 were C$88-million, or...
Jul 30, 2015
The world’s largest gold miner by market capitalisation Goldcorp on Thursday said it would cut its monthly dividend a share by 60% to $0.02, effective from August 1, despite more than doubling its second-quarter profit. The TSX- and NYSE-listed miner, which produced...
Jul 30, 2015
Article contains comments
Mark Cutifani
In a hard-hitting address, Anglo American CEO Mark Cutifani lamented the decline in the competitiveness of South Africa's mining industry and warned that the “trust deficit” between government, the industry and labour would need to be urgently overcome if the country...
Jul 30, 2015
US coal producer Arch Coal has widened its second-quarter loss to $168-million, or $0.79 a diluted share, as it was grappling with one of the worst coal market downturns in history. For the quarter ending June 30, the company recorded a $19.1-million impairment...
Jul 30, 2015
Zimbabwe will reduce royalties levied on small-scale gold producers to 1% from 3% from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. In a half-year budget presentation to parliament, Chinamasa said deliveries of gold...
Jul 30, 2015
Plans to set up the first four-week Operation Phakisa ‘mining laboratory’ to identify and resolve the challenges plaguing South Africa’s mining sector have been given the Cabinet go-ahead. The Operation Phakisa mining lab, which would get under way in October, would...
Jul 30, 2015
Triple-listed OceanaGold has agreed to buy Canadian project developer Romarco Gold in an all-scrip deal valued at about C$856-million, which upon closing, would create the lowest-cost global gold producer. Romarco's main asset was the Haile gold mine, in South...
 
 
 
 
Jul 30, 2015
Gold producers AngloGold Ashanti, Evander Gold Mines, Harmony Gold and Sibanye Gold have tabled their final three-year offers for wage and benefit increases to representative unions, the Association of Mining and Construction Union (AMCU), the National Union of...
Jul 30, 2015
Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and debatable management choices that are putting its survival at risk. Times are tough for everyone in the platinum sector.
Jul 30, 2015
Platinum producer Northam Platinum has inked a three-year wage agreement with the National Union of Mineworkers (NUM) for workers at the Zondereinde mine, in Limpopo. Entry-level underground employees would be provided a 13% basic wage and allowance increase in the...
Jul 30, 2015
Gold mining companies are turning increasingly to derivatives to lock in future revenues, as an industry still smarting from losing out on a 12-year bull run gets creative over protecting its income during the metal's current downturn. While miners overall remain...
Jul 30, 2015
Jul 30, 2015
India's gold jewellery exports could jump five times to $40-billion per year by 2020 if quality controls are tightened, the World Gold Council (WGC) said, adding the country is punching below its weight due to questions over the purity of its products. Mom-and-pop...
Jul 30, 2015
Aim- and TSX-listed First Quantum Minerals has idled its Sentinel processing plant and redirected its power supply to enable its Kansanshi mine to operate as close to capacity as possible and maintain its development momentum, as Zambia’s power utility imposes power...
Jul 30, 2015
Jul 30, 2015
As it gears up to take over underground mining operations at the Yalea and Gara mines, in Mali, Randgold Resources will continue to invest in the 4.9-million-ounce Loulo complex, which now ranks as one of the largest of its kind in the world. In a statement issued...
Jul 30, 2015
In a world where new discoveries are rare, Harmony Gold is encouraged by the prospect that Kili Teke could well develop into another major copper-gold discovery, commented CEO Graham Briggs. Additional drilling at the JSE-listed miner’s Kili Teke prospect in the Hela...
 
 
 
 
Jul 30, 2015
Zambia's copper production increased by 2.1% in the first half of 2015 versus the same period last year as mining companies in Africa's No.2 producer of the metal ramped up output in May and June, the statistics office said on Thursday. "Increase in copper production...
Jul 30, 2015
The Indian government was working towards adopting an open door policy for mineral exploration but would not offer any fiscal incentive or relaxed ownership rights in cases of successful exploration. A senior official in the Mines Ministry said that under the open...
Jul 30, 2015
The Ungani onshore oilfield, in the Kimberley was officially opened this week, marking the first oil development in the region in nearly 30 years. Mines and Petroleum Minister Bill Marmion said the joint venture (JV) between ASX-listed Buru Energy and Mitsubishi...
Jul 30, 2015
ASX-listed Stanmore Coal has bought the Isaac Plains coal mine, in Queensland, from project owners Vale and Sumitomo Corporation for $1. Stanmore would assume all of the outstanding contracts, including transport infrastructure access arrangements and a $32-million...
Jul 30, 2015
The continued fall in commodity prices was likely to see more projects being scrapped, advisory firm Deloitte Access Economics reported this week. In fact, the 'project graveyard' was expected to expand faster than the project pipeline and, with the majority of...
 
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