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Sentula Coal to merge with Close-Up Mining

By: Anine Kilian     Updated 41 minutes ago Diversified mining company Sentula Mining will sell its 50.5% shareholding in Sentula Coal to mining services provider Close-Up Mining. Under the terms of the deal, Sentula would dispose of its claims against Sentula Coal in the amount of R50-million to Close-Up, which will, in turn, issue 2 667,... 

Identified improvements to enhance efficiency at Arafura’s Nolans rare earths project

By: Samantha Herbst     Updated 57 minutes ago Comprehensive work programmes aimed at commercialising ASX-listed rare earths company Arafura Resources’ 100%-owned Nolans rare earths project, in Australia’s Northern Territory, have identified several improvements to the existing project structure that will deliver a more competitive and... 

Fluor Proud to be Part of Initiative to Help Mobilise People in Alexandra

     Updated 1 hour 19 minutes ago ALEXANDRA, South Africa and IRVING, Texas (28 June, 2016) – Fluor Corporation (NYSE: FLR) announced today that 50 excited children at Kwabhekilanga Secondary School in Alexandra, north of Johannesburg, have received bicycles through a partnership between the City of Joburg and Qhubeka. The... 

Amec welcomes govt decision to extend interim relief of port charges

By: Samantha Herbst     Updated 1 hour 36 minutes ago The Association of Mining & Exploration Companies (Amec) has welcomed the decision to extend the $2.50/t interim relief package at the Utah Point Bulk Handling Facility in Port Hedland for at least another 12 months. Western Australian State Development Minister Bill Marmion, together with... 

Pilbara and Lithium Australia team up on processing technology study

By: Creamer Media Reporter      Updated 1 hour 41 minutes ago ASX-listed lithium and tantalum developer Pilbara Minerals has reached agreement with fellow-listed Lithium Australia to jointly evaluate the commercial potential of a new low-cost processing technology for the production of lithium carbonate. Pilbara has been investigating opportunities to... 

Gemco, land council ink agreements to benefit traditional owners

By: Samantha Herbst     Updated 2 hours 11 minutes ago After three years of negotiations, traditional owners represented by the Anindilyakwa Land Council (ALC) and managers at the Gemco manganese mine have settled on a range of landmark agreements to substantially expand the Gemco mine, located on Australia’s Groote Eylandt, which will generate new... 

Caravel to advance WA copper project to prefeasibility study stage

By: Mariaan Webb     Updated 2 hours 12 minutes ago ASX-listed junior Caravel Minerals is studying a new copper project in the Wheatbelt district of Western Australia, in which Canada-based First Quantum could earn a stake. Caravel on Tuesday published the Calingiri scoping study results, which confirmed that the project could be a low-cost,... 

First ore mined in development at Independence’s Nova project

By: Creamer Media Reporter      Updated 2 hours 33 minutes ago Base metals miner Independence Group has mined the first development ore at the Nova project, in Western Australia. The company reported on Tuesday that the mining of the first ore was an important milestone as work progressed to complete construction and development of the nickel/copper/cobalt... 

Richland secures $500 000 loan

By: Creamer Media Reporter      Updated 2 hours 55 minutes ago Aim-listed gemstone producer Richland Resources has entered into a $500 000 unsecured loan facility with two of the company’s directors and a long-term shareholder to satisfy ongoing working capital requirements. The loan facility would provide the company with additional working capital and... 

Flanagan resigns as Atlas Iron MD

By: Mariaan Webb     Updated 3 hours ago David Flanagan has resigned as MD of Western Australian iron-ore producer Atlas Iron, the company announced on Tuesday. Flanagan would continue in the role until a replacement was appointed or serve his six-month notice period, whichever came first. 

Evolution doubles dividend payout, provides three-year production guidance

By: Mariaan Webb     Updated 3 hours ago Australia’s second-largest gold producer, Evolution Mining, on Tuesday announced that it would double its dividend payout on a strong long-term outlook. From the end of the 2016 financial year, the payout rate would double to 4% of revenue, which the company said compared well with mid-tier... 

De Beers sells $560m of diamonds in latest cycle

     Updated 3 hours ago In line with expectations, De Beers on Tuesday reported somewhat lower sales of $560-million in the fifth cycle of the current year, compared with sales of $636-million recorded in the fourth cycle. De Beers CEO Philippe Mellier noted that the lower sales reflected typical seasonal demand patterns. 

Industry body contributes to the changing landscape of waste management

     Updated 4 hours ago South Africa’s waste management industry is in a transformative state. With the country’s well-established waste management regulations, the Institute of Waste Management of Southern Africa encourages organisations to comply with legislation. During the past two years, South Africa’s waste... 

Property Market, More Balanced, Says Herschel Jawitz Ceo Jawitz Properties,

     Updated 4 hours ago The residential market up until 2015 was essentially a sellers’ market driven by low interest rates, strong demand from buyers and a shortage of stock. Despite a slow economy, this market imbalance meant double-digit price growth especially in the major metros such as Johannesburg and Cape Town.... 

Johannesburg among top cities for women entrepreneurs

By: News24Wire      Updated 5 hours ago Johannesburg is among the top 25 cities in the world which fosters high potential women entrepreneurs, according to the latest 2016 Women Entrepreneur Cities Index (WE Cities). The index looks at a city’s ability to attract and foster growth in firms founded by women entrepreneurs. The findings... 

Bauba mulls underground chrome mine at Moeijelijk, secures 20yr mine right

By: Creamer Media Reporter      27th June 2016 The Department of Mineral Resources has granted JSE-listed Bauba Platinum a 20-year mine right for chrome on Farm Moeijelijk 412 KS. “I am very pleased to announce the fulfilment of the legislative conditions for the continuation of mining operations, beyond that permitted under the small-scale... 

Six stars for Solid Green’s own offices

     27th June 2016 In another ‘first’ for the South African green building sector, Solid Green Consulting has been awarded the first 6-Star Green Star SA Interiors v1 certification for the company’s own offices in Rosebank, Johannesburg. Located on the second floor of an existing mixed-use commercial building on... 

Manas acquires Tanzania gold project for $4m

By: Samantha Herbst     27th June 2016 As part of its aim to diversify its gold project portfolio, ASX-listed junior developer Manas Resources has signed a binding heads of agreement (HOA) to acquire the Tanzania-based Victoria gold project from mining entrepreneur Nick Clarke’s Cienega Sarl for $4-million. The HOA comprised a $200... 

First new PRASA trains to enter service in Pretoria in October

By: Irma Venter     27th June 2016 The first new passenger trains to be delivered according to a multibillionrand contact signed between Gibela and the Passenger Rail Agency of South Africa (PRASA), were set to enter service in October, said PRASA strategic asset development group executive Piet Sebola on Monday. Speaking at a... 

Keaton reports R297m FY loss

By: David Oliveira     27th June 2016 South African coal miner Keaton Energy incurred a net loss of R297.3-million for the year ended March 31, compared with a net loss of R71.9-million the year before. The coal miner reported a headline loss a share of 26.9c, compared with headline earnings a share of 0.4c the year before. 

Industrial equipment giant Goscor signs key distribution deal with Chinese multi-national Sany

     27th June 2016 State-of-the-art industrial equipment specialist, the Goscor Group, has signed a key distribution deal to become the official dealer of Chinese multi-national Sany’s earthmoving equipment in South Africa. In accordance with the agreement signed on 17th May 2016, Goscor Group will newly set up an... 

Alumina files counterclaim against Alcoa

By: Mariaan Webb     27th June 2016 Australian company Alumina has filed a counterclaim against US group Alcoa, which last month turned to a Delaware court to prevent its partner in Alcoa Worldwide Alumina and Chemicals (AWAC) from blocking a demerger plan. Alumina said on Monday that its counterclaim sought court declarations to... 

Todd extends Flinders takeover offer period to July

By: Mariaan Webb     27th June 2016 New Zealand’s Todd Corporation has again extended the offer period under the takeover bid for ASX-listed Flinders Mines, with the offer now set to close on July 18. Todd previously extended the offer period to June 27. 

Substantive mineral law issues still far from resolved – Herbert Smith Freehills 

By: Martin Creamer     27th June 2016 The content and the implications of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill are extraordinarily complicated. Three issues, which embody the most significant negative implications for the mining industry and South Africa, have been delaying the finalisation of... 

Tanzanian CompComm delays Ngualla BFS funding

By: Samantha Herbst     27th June 2016 Tanzania’s Fair Competition Commission has delayed ASX-listed rare earths hopeful Peak Resources’ approval for funding from the Appian Natural Resources Fund and International Finance Corporation, for the corporation’s Stage 2 investment into Peak’s majority-owned associated company Peak African... 

Aura sees multimillion-ounce gold potential in Mauritania

By: Mariaan Webb     27th June 2016 Australian junior Aura Energy on Monday announced that it had secured rights to acquire two exploration permits in Mauritania, which were along strike from Canadian firm Kinross’ major Tasiast gold mine. Aura chairperson Peter Reeve said that the company’s technical team, which was well... 

Huge Brexit bonanzas for AngloGold, Gold Fields – Moody’s

By: Martin Creamer     27th June 2016 As a result of Britain deciding to exit the European Union, two South African gold mining companies are heading for huge free cash bonanzas, ratings agency Moody’s said on Monday. AngloGold Ashanti is set to generate an additional $120-million in free cash flow in the second half of 2016 and Gold... 

Shanta starts New Luika decline development

By: Natasha Odendaal     27th June 2016 The decline development at the New Luika gold mine has started after Aim-listed Shanta Gold secured all the required approvals for the Tanzania mine to move from a surface operation to a high-grade underground mining operation. The East Africa-focused gold producer, developer and explorer was... 

Metallica completes sale of Boyne limestone project

By: Samantha Herbst     27th June 2016 ASX-listed bauxite developer Metallica Minerals has completed the sale of its noncore Boyne limestone project, near Gladstone, Queensland, after a private group paid the agreed balance of $900 000. The private purchaser sought to acquire the two granted mining leases that formed the Boyne project... 

Woodside announces $1.9bn oil project

By: Mariaan Webb     27th June 2016 Australian major Woodside Energy on Monday announced that it would proceed with the development of the $1.9-billion Greater Enfield joint venture (JV) project, offshore Western Australia. The ASX-listed company would develop the project, which was located 60 km off Exmouth, in partnership with... 

Accelerate rides out economic pressures, reports 9.1% distribution growth

By: Natasha Odendaal     27th June 2016 JSE-listed real estate investment trust (Reit) Accelerate Property Fund has delivered 9.1% year-on-year distribution growth to 53.67c a share for the year ended March 31. The strong 2016 financial year-end results achieved by the company also included 24% growth in the value of Accelerate’s... 

The Cummins Power City To City Tour South Africa Bringing Energy Solutions to the Nation A Powerful brand on the Move

     27th June 2016 Cummins Inc., a global energy leader providing electrical power generation systems and complementary business units that design, manufacture, distribute and service diesel and natural gas engines and related technologies, is embarking on a national City to City Tour of South Africa in a highly... 

South Africa has lost respect in Africa – Mbeki

By: News24Wire      27th June 2016 Former President Thabo Mbeki said South Africa has lost the respect of countries, both in Africa and globally,  which had invested in its success. Speaking in Johannesburg on Friday night at the launch of The Thabo Mbeki I Know , a book written by various contributors about him, Mbeki said it... 

Kidnapped Macmahon workers released

By: Mariaan Webb     27th June 2016 The seven Macmahon Holdings workers kidnapped in Nigeria have been released, the Australian engineering and mining group reported on Monday, adding that arrangements had been made for the men’s safe return to their families. The company said that five of the seven people who were abducted near... 

BHP Billiton to spend $900m on copper and oil exploration

By: Mariaan Webb     27th June 2016 Diversified mining major BHP Billiton would spend about $900-million on exploration in the next financial year, focusing on opportunities in copper and oil. The exploration budget represented about 18% of BHP Billiton’s overall capital budget of $5-billion for the 2017 financial year, head of... 

Big ‘focus’ on ensuring rail OEMs meet local-content commitments 

By: Terence Creamer     24th June 2016 A senior Department of Trade and Industry (DTI) official “promised” on Friday that the department was giving focused attention to ensuring that the local-content targets associated with Transnet’s R50-billion locomotive procurement programme were met. Chief director for industrial procurement Dr... 

Brexit could push gold price as high as $1 400/oz in coming weeks

By: Ilan Solomons     24th June 2016 Gold and silver prices on Friday surged above their 2016 highs in the wake of the outcome of the British referendum to leave the European Union (EU) – the so-called Brexit. Fitch Group research firm BMI on Friday said it expected additional gains for these precious metals over the coming weeks. 

‘Staggering’ uncertainty driving gold – World Gold Council

By: Martin Creamer     24th June 2016 With Britain voting to exit the European Union, the World Gold Council expects to see strong and sustained inflows into the gold market driven by the "staggering" level of protracted uncertainty that investors now face. The council said on Friday that gold’s surge to $1 313.85/oz was providing... 

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