R/€ = 15.18 Change: -0.10
R/$ = 12.47 Change: -0.14
Au 1320.76 $/oz Change: -4.99
Pt 921.00 $/oz Change: 2.16


Gold Fields lowers South Deep’s FY guidance after below-expectation Q1 performance

By: Marleny Arnoldi     25th April 2018 A below expectation performance at its South Deep mine, in Johannesburg, contributed to a 1% year-on-year and a 10% quarter-on-quarter decrease in Gold Fields’ output for the quarter ended March 31. Production for the quarter was 490 000 oz. 

Goldplat increases gold equivalent sales

By: Nadine James     24th April 2018 Aim-listed Goldplat sold and transferred 28 534 gold-equivalent ounces during the nine months ended March 31, compared with the 27 714 oz sold and transferred in the nine months to March 31, 2017. Gold-equivalent production for the nine months under review, however, decreased to 27 212 oz,... 

South African air traffic controller elected VP of global ATC representative body

By: Rebecca Campbell     23rd April 2018 Air Traffic and Navigation Services, the State-owned company that is responsible for South Africa’s air traffic management, announced on Sunday that its Area Radar Controller at OR Tambo International Airport (Johannesburg), Peter van Rooyen, had been elected Executive VP of the International... 

IronRidge secures additional exploration rights

By: Marleny Arnoldi     20th April 2018 Aim-listed IronRidge Resources’ joint venture (JV) with Joy Transporters over the Saltpond and Cape Coast projects, in Ghana, has been finalised.  

Asanko mine performs ahead of LoM plan in Q1

By: Simone Liedtke     19th April 2018 Gold miner Asanko Gold’s Asanko mine, in Ghana, performed ahead of the optimised life-of-mine (LoM) plan during the first quarter ended March 31. The mine performed exceptionally well, said Asanko president and CEO Peter Breese, who noted that it is also ahead of plan on the key metrics of gold... 

Ramaphosa's plan to attract R1.2tr in investment marks potential new dawn

By: News24Wire      18th April 2018 President Cyril Ramaphosa’s plan to raise over R1-trillion in new foreign investment has been hailed by economists as the beginning of a “new dawn” for South Africa after years of low growth and policy uncertainty. On Monday, Ramaphosa announced that South Africa will later this year host a major... 

IronRidge to start drilling at Ghana lithium deposit

By: Marleny Arnoldi     17th April 2018 Aim-listed IronRidge Resource has received the necessary approvals and earthworks have started for drill access and drill pads over its Ewoyaa pegmatite deposit, in Ghana.  

Perseus' production surges on Sissingue start

By: Esmarie Swanepoel     16th April 2018 Gold miner Perseus Mining has reported a surge in production for the three months to March after the Sissingue gold mine, in Cote d’Ivoire, started production in January. The Sissingue gold mine reached commercial production at the end of March. 

AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

Grit buys Mozambique property from Tradehold

By: Anine Kilian     13th April 2018 JSE-listed Grit Real Estate and Tradehold on Friday announced a $23-million Mozambique property transaction in which Grit would buy an A-grade corporate residential complex, known as Acacia Estate, in Maputo, from Tradehold. Grit has signed an agreement with Tradehold Africa, TC Maputo, Cognis 1... 

SAA must look to Ethiopian Airlines

By: Martin Zhuwakinyu     13th April 2018 Late last month, the top brass at South African Airways (SAA) was in the National Assembly, briefing Parliamentarians about the perennial ills at the national carrier. New CEO Vuyani Jarana, who, together with board chairperson Johannes Magwaza, led the delegation, painted a rather depressing... 

Group Five to sell majority stake in SA construction business as losses mount

By: Irma Venter     12th April 2018 Group Five will soon become a minority shareholder in its construction business in South Africa, says CEO Themba Mosai. Speaking on Thursday in Johannesburg at the company’s interim results, he noted that Group Five targeted the sale of 51% of its South African construction business to an... 

Investment in Africa’s ports, shipping sector can accelerate economic growth

By: African News Agency      12th April 2018 More strategic investment in Africa’s ports can accelerate growth and development by strengthening trade as these are gateways for 80% of merchandise trade by volume and 70% by value, globally. This is according to an analysis report of port development in sub-Saharan Africa (SSA) issued by the... 

Gold Fields to make decision on Chile gold mine next year

By: Reuters     12th April 2018 South African miner Gold Fields will complete preparatory work in 2019 at its Salares Norte project, in northern Chile, and is eyeing potential output of around 345 000 oz/y of gold at the site by the early 2020s, a company executive said. Gold Fields will decide whether to give the go-ahead for... 

Mining in sub-Saharan Africa region to remain riskiest globally – BMI

By: Simone Liedtke     11th April 2018 Sub-Saharan Africa’s mining sector will remain the riskiest in the world over the coming quarters as regulatory uncertainty rises in various markets across the region, says BMI Research. In addition to increasing regulatory uncertainty, the region will also witness challenges stemming from... 

Operations restarted at Newmont's gold mines in Ghana – spokesperson

By: Reuters     10th April 2018 Operations restarted at Newmont Mining's two gold mines in Ghana on Monday, a company spokesperson said, after they were shut down on Saturday following an accident in which six construction workers were killed. Civil works on the mill expansion project at Newmont's Ahafo project, where the... 

Newmont suspends operations at Ghana mine after six workers killed

By: Reuters     9th April 2018 Six construction workers have been killed in an accident at Newmont's Ahafo gold mine in Ghana, forcing the surface mine to suspend its operations, a local Newmont manager said on Sunday. The workers died after a tunnel roof collapsed on them at the construction site of an expanded gold... 

Free trade deal is much ado about nothing

By: Riaan de Lange     6th April 2018 It is the eightieth day of the year as I sit down to write this piece – the first full day of the sign of Aries. In case you are wondering, there are 285 days until the end of the year, and, in another 65 days, it will be Tax Freedom Day. It means that you will need to work up to May 25 to pay... 

Firm reiterates Africa’s importance as strategic region

6th April 2018 Africa remains a strategic and promising business region for integrated infrastructure delivery company Aecom, and as the outlook for the continent remains positive, the company is ensuring it has the necessary staff and technical expertise to allow it to capitalise on growth opportunities. In... 

West African exchange in charm offensive

By: Martin Zhuwakinyu     6th April 2018 It is refreshing to notice that the regional stock exchange in the French-speaking West African Economic and Monetary Union (WAEMU) is not keeping the eight-country bloc’s shining light under a bushel. The WAEMU region – which comprises Cote d’Ivoire, Benin, Togo, Burkina Faso, Niger, Mali,... 

Ghana to review corporate tax exemptions for resources sector

By: Reuters     5th April 2018 Ghana plans to review its process for granting corporate tax exemptions to mining and oil companies as part of measures to eliminate fraud and boost revenues, its vice president said on Wednesday. Mahamudu Bawumia said tax exemptions claimed by some resources companies were not transparent, and... 

Sub-Saharan African mining sector to continue facing illegal mining challenges, regulatory risks

By: Marleny Arnoldi     3rd April 2018 Widespread illegal mining activity and rising regulatory risks are two of the biggest challenges that will face the sub-Saharan Africa mining sector in the coming months, research and analysis firm BMI Research says.  

Sissingue reaches commercial production

By: Esmarie Swanepoel     3rd April 2018 ASX- and TSX-listed Perseus Mining has declared commercial production at its Sissingue gold mine, in Cote d’Ivoire. “Reaching commercial production at our Sissignue gold mine is a very important milestone for Perseus as we now have a second, high quality cash flow stream that materially reduces... 

Ghana contract takes heavy toll on Group Five, bridging finance in place

By: Irma Venter     3rd April 2018 Construction and engineering company Group Five on Thursday afternoon said the loss expected for the six months ended December 2017 would be R371-million more than the guidance provided in a March 1 trading statement, following continued difficulties at the Kpone project, in Ghana. The group said... 

Gold Fields buys stake in Asanko gold mine in Ghana

By: Simone Liedtke     29th March 2018 South African miner Gold Fields has teamed up with Canada-based Asanko Gold in Ghana, with the gold miners announcing on Thursday that the JSE-listed major would buy a 45% interest in the Asanko gold mine (AGM) for $185-million. The companies have agreed to form a 50:50 joint venture (JV), which... 

Goldplat completes installation of Ghana elution plant

By: Marleny Arnoldi     29th March 2018 Aim-listed gold producer Goldplat’s Gold Recovery Ghana (GRG) subsidiary has completed the installation and commissioning of an elution plant and all associated ancillary equipment at its gold recovery site in Tema, Ghana.  

Ghanaians protest over expanded military co-operation deal with US

By: Reuters     28th March 2018 Thousands of people protested in Ghana's capital Accra on Wednesday against the expansion of its defence cooperation with the United States, in a rare public display of opposition to the growing foreign military presence in West Africa. Demonstrators blowing vuvuzelas and beating drums filled... 

Ghana positioned to be regional hub for upstream products in the mineral value chain

By: Anine Kilian     28th March 2018 Ghana’s economic landscape has been shaped by the mining sector and, while mineral extraction has contributed to the country’s development path, the extent to which the country has tapped its mineral potential has remained limited. As interest in the country’s mineral sector grows, it is expected... 

Increasing mining services in Africa key to industry's long-term sustainability

By: Anine Kilian     27th March 2018 Increasing the demand for mining goods and services is necessary to grow this industry in Africa, Southern African Development Community (SADC) industrialisation adviser Seth Akweshie said on Tuesday. Most inland developments in Africa have been established owing to nearby mining activities, he... 

Kinross Gold settles US charges related to bribe prevention in Africa

By: Reuters     27th March 2018 The US Securities and Exchange Commission said Canadian mining company Kinross Gold Corp agreed to pay $950 000 to settle civil charges that it failed to ensure its payments in Africa were not being used to bribe government officials. The SEC said in a statement Monday the company did little to... 

Massmart to open 20 stores in Pan-African expansion – chairperson

By: Reuters     27th March 2018 South African retailer Massmart is continuing its Pan-African expansion with plans to open about 20 new stores outside its home market over the next three years, the company's chairman said on Monday. Massmart, majority-owned by US retail giant Wal-Mart, operates nearly 400 stores, including 42... 

Stabila sets the standard for measuring tools in the construction sector

23rd March 2018 Stabila measuring tools are well-known in the global construction industry for their precision, long life, and high quality. These premium German products are distributed locally by Upat SA (Pty) Ltd. Upat National Product Specialist Charl Weber comments that construction industry professionals... 

Tyrexpo Africa 2018: Africa’s gateway to the continent’s Tyre Community coming in April 2018

23rd March 2018 Over 2,500 international, regional and local tyre manufacturers, OEMs, distributors, dealers, retailers fleet operators and garage owners will convene at Tyrexpo Africa (co-located with GarageXpoAfrica), to be held at the Gallagher Convention Centre Hall 2, Johannesburg on 10 – 12 April 2018 The... 

Radebe to address power roundtable in April

23rd March 2018 South Africa’s power sector has again entered a period of uncertainty after a planned signing ceremony for 27 independent power producers (IPPs) failed to materialise on March 13, following a legal challenge by the National Union of Metalworkers of South Africa. The court case, planned for March... 

Remembering Julius Nyerere

By: Martin Zhuwakinyu     23rd March 2018 It took the threat of impeachment proceedings by his own party to get Jacob Zuma, decidedly the most inept – and venal – President South Africa has ever had, to vacate the Union Buildings on Valentine’s Day. Just under three months earlier, the ruling Zanu-PF party in neighbouring Zimbabwe had... 

AECOM reiterates Africa’s importance as a strategic business region

20th March 2018 Africa remains a strategic and promising business region for AECOM. While the outlook for the continent remains positive, the integrated infrastructure delivery company is ensuring it has the necessary staff and technical expertise to allow it to capitalise on growth opportunities. In West... 

Erin Energy widens loss despite higher oil price lifting revenue

By: Simone Liedtke     16th March 2018 Oil and gas exploration and production company Erin Energy has widened its net loss to $151.9-million, or $0.71 a share, in 2017, from $142.4-million, or $0.67 a share in 2016. The loss comes despite a 30% increase in revenue to $101.2-million and lower exploration and production expenses. The... 

Atuabo waste-to-power independent power producer project, Ghana

By: Sheila Barradas     16th March 2018 GE Power and Marinus Energy are building a pilot plant to capture isopentane gas to use as a fuel source for generating electricity. 

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