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Froneman calls for collective action towards zero harm in fatality-plagued mining business

By: Martin Creamer     Updated 4 hours ago A strong call to action was made by Sibanye-Stillwater CEO Neal Froneman on Thursday for a common purpose towards zero harm in South Africa's mining industry, where rising fatality numbers are causing great concern. Froneman said a point had been reached where management on its own could not make... 

Restructured Anglo American reaps benefits, posts solid FY17 results

By: Simone Liedtke     Updated 4 hours ago After an extensive restructuring, diversified miner Anglo American raised its dividend for the 2017 financial year to $1.02 a share - its highest dividend in nearly a decade. The "fundamentally different business" nearly halved its debt to $4.5-billion and doubled its free cash flow by 93% to... 

Kirkland Lake net earnings surge on production growth

By: Nadine James     22nd February 2018 Gold miner Kirkland Lake Gold has released strong financial and operating full year results for 2017, including a 90% increase in production and improved cash flow. The Toronto-headquartered company produced 596 405 oz in 2017, an increase of 90% from 2016, largely owing to the full-year... 

New Gold beats Q4 earnings forecast as it records record output

By: Henry Lazenby     22nd February 2018 TSX- and NYSE American-listed Canadian gold producer New Gold has reported a headline profit of $32.5-million, or $0.06 a share for the three months ended December 31, as record gold output boosted the bottom line. This was a marked improvement on the miner's performance in the comparable quarter... 

Miners rich in cash are aiming for fat dividends, debt payments

By: Bloomberg     21st February 2018 The mining industry is awash with cash, and so far it’s got two main uses - pay down debt and reward investors. Three of the big four London-listed miners have released earnings this month, and it’s clear the companies are doing what shareholders have demanded of them.  

Glencore shoots lights out, mulls divi top-up, reaffirms South Africa

By: Martin Creamer     21st February 2018 Diversified mining and marketing company Glencore shot the lights out with a superlative set of 2017 results that coincided with a leap in its share price in Johannesburg, the reaffirmation of South Africa as an even more positive investment destination, and the mulling of a dividend "top up"... 

Amplats modernises, studies growth, advances fuel cell 

     21st February 2018 Anglo American Platinum’s Mogalakwena Platinum mine has gushed R4-billion worth of free, unfettered operating cash flow. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Efficient cleaning technologies can boost profitability

     21st February 2018 Large South African companies spend between 70% and 80% of total cleaning costs on associated labour, according to industry experts Nilfisk. For businesses looking to implement financial efficiencies within their operations, this insight provides an interesting perspective on commercial cleaning.... 

BC extends provincial flow-through tax credit for a year; resumes fight against Canadian oil

By: Henry Lazenby     21st February 2018 The British Columbia provincial government has released its Budget 2018 plan, confirming that the provincial flow-through exploration tax incentive will be extended for another year until the end of this year. The mining flow-through share programme is seen as critical to reinforcing the... 

South Africa falls to small percentage of AngloGold output 

By: Martin Creamer     20th February 2018 South African gold mines now represent around 13% of the AngloGold Ashanti portfolio, AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) said on Tuesday. The fall in the contribution from AngloGold's South Africa region mines follows the sale of Moab and Kopanang and the closure of the Tau... 

Eltherm South Africa Lands Kathu Solar Plant Heat Tracing Contract

     20th February 2018 eltherm South Africa has been awarded the electrical heat tracing (EHT) system design and installation contract for the 100 MW Kathu Solar Park CSP (Concentrated Solar Power) plant in the Northern Cape. The contract also confirms eltherm’s dominance in the provision of EHT for CSP plants... 

AfDB expresses strong support for new Eskom leadership

By: Terence Creamer     20th February 2018 The African Development Bank (AfDB), which has extended loan facilities worth a collective R20-billion to South Africa’s power utility Eskom, expressed confidence on Tuesday that the new leadership at the cash-strapped State-owned company would restore the group’s governance and creditworthiness.... 

Northern Star boosts exploration spend, unveils 'game changer' discovery

By: Simone Liedtke     20th February 2018 ASX-listed Northern Star Resources has increased its total exploration budget for the 2018 financial year by A$10-million to A$45-million, owing to a series of exploration results showing that the gold producer is set to establish a ten-year life at its 10-million-ounce endowed Jundee gold... 

BHP rewards shareholders, profit jumps 25% on commodity prices

By: Mariaan Webb     20th February 2018 Higher commodity prices have helped the world’s largest diversified mining group to report a 25% increase in its underlying attributable profit and to reward shareholders with higher interim dividends. Melbourne-headquartered BHP grew its underlying attributable profit from $3.24-billion in the... 

Africa not making the most of its gas reserves

By: Anine Kilian     19th February 2018 Only 8% to 10% of Africa’s known gas reserves are being priortised, despite the fact that gas reserves on the continent are abundant, Catalyst Capital managing partner Adero Okudo said on Monday. Speaking at the Africa Gas Forum, in Johannesburg, she said there were only two crossborder pipelines... 

Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell 

By: Martin Creamer     19th February 2018 The Mogalakwena platinum mine lived up to its reputation of being the most profitable platinum group metals (PGM) mine on the planet when it gushed cash and elevated a modernising, community supporting, environment protecting, growth studying and fuel-cell marketing Anglo American Platinum... 

West Wits aims for higher gold production in South Africa

By: Simone Liedtke     19th February 2018 ASX-listed exploration and development company West Wits Mining is in the process of applying for two mining permits, which should enable the company to significantly increase gold production from its Witwatersrand Basin project (WBP) in the fourth-quarter of the calendar year. The company... 

Trio Crushers And Screens On A Roll

     19th February 2018 In the three short years since Weir Minerals Africa acquired the Trio® range of crushing and screening equipment, a strong network of skills and aftermarket services has been built across Africa to support this quality brand. According to Weir Minerals Africa Process Director JD Singleton, the... 

Amplats restores dividend, productivity soars, six die

By: Martin Creamer     19th February 2018 Six employees died in a year in which Anglo American Platinum (Amplats) chalked up R2.4-billion in free cash flow generated from its operations, doubled return on capital employed to 18% and reintroduced a cash dividend for the first time in seven years. Productivity has soared by 58% since 2012... 

Fortescue's Aboriginal programme hits A$2bn mark

By: Simone Liedtke     16th February 2018 Iron-ore major Fortescue Minerals' 'billion opportunities programme' has reached the A$2-billion-mark, with 250 contracts and sub-contracts having been awarded to 110 Aboriginal businesses and joint ventures in the seven years since its inception. CEO Nev Power said on Friday that the programme... 

Russian views on the future of civil aeronautics

By: Rebecca Campbell     16th February 2018 People are concerned about noise, emissions and safety. We are working to make aviation safer, greener and more comfortable for people,” highlighted Professor Sergey Chernyshev, general director of Russia’s renowned Central Aerohydrodynamic Institute (much better known in English by the... 

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 Gobal equity markets have been extremely volatile in recent weeks, extending a frantic sell-off of US stocks, which culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Russian views on the future of civil aeronautics

By: Rebecca Campbell     16th February 2018 “People are concerned about noise, emissions, and safety. We are working to make aviation safer, greener and more comfortable for people,” highlighted Professor Sergey Chernyshev, General Director of Russia’s renowned Central Aerohydrodynamic Institute (much better known in English by the... 

Infrastructure financing à la Ethiopia

By: Martin Zhuwakinyu     16th February 2018 Media reportage on Egypt and Ethiopia during the past few years has emphasised the simmering tension between the two countries. The bone of contention is the Grand Ethiopia Renaissance Dam (GERD), which the Horn of Africa is building on the headwaters of the Blue Nile, one of the two major... 

DRDGold lifts H1 profit on higher production

By: Megan van Wyngaardt     15th February 2018 Dual-listed gold recovery company DRDGold on Thursday posted a 27% year-on-year increase in operating profit to R219.9-million for the six months ended December  31, on the back of an 11% year-on-year increase in gold production to 75 267 oz. The company, which is working to add... 

Pembridge buys producing copper mine from Capstone

By: Mariaan Webb     15th February 2018 LSE-listed Pembridge Resources is set to be transformed into a cash flow generating copper producer with the acquisition of the Minto openpit copper/gold/silver mine in Yukon, Canada. Pembridge, which August last year moved from the Aim to LSE main board, on Thursday announced that it had signed... 

Newcrest Mining’s half-year profit takes a knock

By: Mariaan Webb     15th February 2018 Seismic activity at the Cadia mine in New South Wales and higher costs as result of a stronger Australian currency have contributed to the large decrease in interim underlying profit that gold miner Newcrest Mining reported on Thursday. For the six months ended December 31, the Australian... 

Vanitec Applauds New Stricter Chinese Rebar Standard

     15th February 2018 Vanitec, the International Trade Association representing the companies and organisations involved in the processing, manufacture, mining, research and use of vanadium and vanadium-containing products, today praised the Standardization Administration of the People’s Republic of China on its... 

Income tax expense lowers Evolution H1 profit

By: Mariaan Webb     15th February 2018 Australian gold miner Evolution Mining on Wednesday reported a 10% decrease in half-year statutory after-tax profit of A$122.5-million, owing to a higher income tax expense. The miner, which operates five mines in New South Wales, Queensland and Western Australia, explained that it had used all... 

Anaconda starts work on expanded second phase of Goldboro drilling

By: Henry Lazenby     14th February 2018 Junior gold producer Anaconda Mining has started work on an expanded 7 000 m second-stage drilling campaign at its Goldboro project, in Nova Scotia. The 4 500 m drilling programme will focus on the East Goldbrook and Boston Richardson gold systems of the Goldboro deposit.  

Despite reporting a Q4 earnings miss, Teck equity rises on record revenue, cash flow

By: Henry Lazenby     14th February 2018 Canadian diversified miner Teck Resources has reported fourth-quarter headline earnings slightly below analyst expectations, as lower metallurgical coal sales and prices offset metal price improvements in the three-month period to December 31. Adjusted profit attributable to shareholders in the... 

Koeberg launches mobile desalination plant to counter water shortages

By: Kim Cloete     14th February 2018 In the wake of the severe water shortages in and around Cape Town, Eskom’s Koeberg nuclear power station has launched a mobile groundwater desalination plant which will take care of the station’s water needs. The temporary groundwater desalination plant has a 920 kilolitre-a-day capacity. The... 

Gold Fields pays dividend on net loss, flat production, two fatalities

By: Martin Creamer     14th February 2018 Gold mining company Gold Fields on Wednesday announced a final dividend on a net loss and flat production, impacted by two fatalities. As per its trading statement released on February 8, headline earnings for 2017 were $194-million, or $0.24 a share, and net loss for the year was $35-million, or... 

Woodside buys ExxonMobil’s Scarborough field stake, announces A$2.5bn share sale

By: Mariaan Webb     14th February 2018 Australian oil and gas producer Woodside on Wednesday announced that it had entered into a binding agreement to buy ExxonMobil’s share of the Scarborough gas field, in the Carnavon basin as part of a A$2.5-billion share sale. The transaction involves an additional 50% interest in WA-1-R, which... 

Kumba profit up 12% in 'royal flush' year – CEO

By: Megan van Wyngaardt     13th February 2018 In a year that CEO Themba Mkhwanazi describes as a "royal flush", Kumba Iron Ore posted a 12% increase in headline earnings to R9.7-billion. Headline earnings reached R30.47 a share, while earnings before interest, taxes, depreciation and amortisation increased by 6% year-on-year to R19.6-billion... 

Terracom adds one year to Blair Athol life, targets further resource expansion

By: Schalk Burger     13th February 2018 Coal mining company Terracom on Tuesday announced that, in collaboration with Deswik Mining Consultants, it had upgraded the reserves of the Blair Athol thermal coal mine, in Queensland, from 15.6-million tonnes to 18-million tonnes. This upgrade effectively adds about one extra year to the mine... 

OMRON Introduced Four Series of Condition Monitoring Devices

     13th February 2018 Omron Industrial. Johannesburg. South Africa. OMRON Corporation have introduced on February 1, 2018, four series of condition monitoring devices to monitor operational status in manufacturing sites for workers. 

Acacia scraps FY17 dividend, posts $707m net loss

By: Anine Kilian     12th February 2018 The share price of LSE-listed Acacia Mining fell by 18.6% on Monday as it reported a net loss of $707-million for 2017 and said it would not pay a dividend for the financial year. The company continues to be negatively affected by a general ban on the export of metallic mineral concentrates in... 

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