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‘Steel committee’ to be set up to monitor AMSA’s ‘fair pricing’ pledge

By: Terence Creamer     Updated 5 hours ago Government would, within weeks, finalise a “fair pricing” agreement with steel producer ArcelorMittal South Africa (AMSA) and establish a “steel committee” to monitor implementation of the formula, which would be based on a basket of selling prices in Europe, Asia and North America. Department of... 

Continually flipped Moz gold project goes for $17.5m

By: Martin Creamer     Updated 6 hours ago The Manica gold project in Mozambique, which has been bought and sold several times in recent years, is being disposed of once more. On two occasions the disposals have been conducted under the same management head – Jan Nelson, who announced on Thursday that his London Aim-listed Xtract had... 

Wescoal says water-use licence for Khanyisa granted

By: Natasha Odendaal     Updated 7 hours ago JSE-listed Wescoal has been granted a 20-year water-use licence for its opencast Khanyisa colliery, in Mpumalanga. The licence, issued by the Department of Water and Sanitation, was effective immediately; however, the company still required additional regulatory consents from the Department of... 

Pan African raising cash for BEE toughening, funding headroom

By: Martin Creamer     26th May 2016 Gold-, platinum- and coal-mining company Pan African Resources told shareholders on Thursday that it would be raising equity capital to cement its black economic-empowerment (BEE) compliance and provide it with financial headroom for swift access to organic and acquisitive growth opportunities.... 

DEHN drives protection of electric vehicles charging infrastructure

     26th May 2016 South Africa’s first commercially available fully electric car was introduced in October 2013. Despite the frequently asked question of whether the country was ready for the electric car, for obvious reasons, the world is going green and so must we; it is merely an adaptation of the environment... 

Hillgrove cuts salaries to navigate cash flow constraints

By: Mariaan Webb     26th May 2016 The board, CEO, MD and employees of copper/gold miner Hillgrove Resources have agreed to salary reductions to help the company overcome cashflow constraints, chairperson Dean Brown reported on Thursday. In an address delivered at Hillgrove’s annual general meeting, he reported to shareholders... 

Sphere sees $14m loss after suspending development at Askaf

By: Samantha Herbst     26th May 2016 Having decided to slow down development at its main Askaf iron-ore project, in Mauritania, in October, Glencore subsidiary Sphere Minerals reported a net loss of $14-million from continuing operations after income tax for the year ended December 31, compared with a loss of $311.9-million for the... 

About 70% of total tonnes mined at Devon, reports GME

By: Samantha Herbst     26th May 2016 Since starting production at its 100% owned Devon gold mine, in Western Australia, ASX-listed junior developer GME Resources has mined about 70% of the total tonnes, including waste and ore. The company revealed on Thursday that four batches of ore – equating to 26 300 dry tonnes, or 40% of the... 

Kingsgate’s Chatree licence renewed to year-end, no certainty about mine’s future

By: Mariaan Webb     26th May 2016 Australian miner Kingsgate Consolidated on Thursday requested an extension of its voluntary trading halt on the ASX, owing to continued uncertainty over the future of its only operating mine, Chatree, in Thailand. The company was granted a renewal of its metallurgical licence for the gold mine,... 

Court approves Diversified Minerals’ takeover of Unity

By: Mariaan Webb     26th May 2016 The shares of Unity Mining were suspended from trading on the ASX at the close of market on Thursday, after the Supreme Court of Victoria approved Diversified Minerals’ takeover of the gold company. Unity shareholders would receive 3.3c cash for each share that they own, comprising 2.3c by way of... 

Bass Metals to move forward with Madagascar graphite buy

By: Mariaan Webb     26th May 2016 Australia’s Bass Metals said on Thursday that it would move ahead with the acquisition of a large flake graphite mine in Madagascar. Announcing the completion of a due diligence, chairperson Rick Anthon said that the acquisition of the operating Graphmada mine from Aim-listed Stratmin Global... 

Santos starts up second unit at GLNG

By: Mariaan Webb     26th May 2016 Oil and gas company Santos has started producing liquefied natural gas (LNG) at the second unit of the GLNG joint venture project, on Curtis Island, in Queensland, marking the successful delivery of the $18.5-billion two-train project. Santos MD and CEO Kevin Gallagher on Thursday described the... 

Solidarity secures payment agreement for retrenched Lily mineworkers

By: Anine Kilian     25th May 2016 Trade union Solidarity on Wednesday reached an agreement with the business rescue practitioner regarding retrenchment packages to be paid out to those mineworkers at Vantage Gold Fields’ Lily mine, near Barberton, who had applied for them.   According to Solidarity general secretary Gideon du... 

GDID opens infrastructure projects monitoring centre 

By: Ilan Solomons     25th May 2016 The Gauteng Department of Infrastructure Development (GDID) has officially opened its electronic infrastructure projects management centre, giving the GDID the ability to monitor, in real-time, the R30-billion in infrastructure projects under its management in Gauteng. Speaking at the opening in... 

Silicosis class-action status impacts on local common law

By: David Oliveira     25th May 2016 The Johannesburg High Courts’ decision earlier this month to give 69 mineworkers and silicosis sufferers the right to institute class action against 32 current and historical South African gold mining companies would have far-reaching implications for the country’s common law, according to law... 

Eskom to waive Soweto users’ debt, on condition 

By: News24Wire      25th May 2016 Eskom will waive Soweto residents’ debt repayments as an incentive to convert to prepaid meters, it was revealed  in a written reply in Parliament by the Department of Public Enterprises (DPE) on Wednesday. The DPE was responding to a question by Democratic Alliance MP Natasha Mazzone, who asked... 

Gold Fields extends Macmahon contract at St Ives

By: Creamer Media Reporter      25th May 2016 Gold mining major Gold Fields has extended ASX-listed Macmahon Holdings’ contract to supply a fleet of opencut mining equipment and associated services to the St Ives gold mine, in Western Australia. Macmahon initially had a six month contract, which Gold Fields has now extended by 24 months. 

Karara Mining secures $200m loan

By: Mariaan Webb     25th May 2016 Iron-ore joint venture (JV) Karara Mining has secured a $200-million loan from China-based Shanghai Pudong Development Bank, ASX-listed Gindalbie Metals reported on Wednesday. The new loan would provide the JV with working capital to support the Karara iron-ore project, in Western Australia. 

Capital Mining eyes another lithium acquisition

By: Mariaan Webb     25th May 2016 ASX-listed Capital Mining was in “advanced stage” negotiations about a lithium acquisition, the company revealed on Wednesday. Capital Mining, which earlier this month announced a sales and purchase agreement to buy Shaw River Lithium and its 13 prospecting licences in the Pilbara, said it was... 

Pneumatics company launches locally

     25th May 2016 Japan-headquartered pneumatics company SMC Pneumatics launched its South African office in Midrand last month, cementing its presence in 84 countries and creating a distribution and manufacturing centre to extend its service offering for other African clients.  

MTN near to hiring new CEO

By: News24Wire      25th May 2016 Embattled mobile network MTN Group says it is near to hiring a new chief executive officer after the previous head of the company quit late last year. Local telecoms veteran Sifiso Dabengwa resigned as MTN Group CEO last November after Nigerian regulators slapped the company with a massive $5.2bn... 

Christie’s to sell 24.18 ct Cullinan Dream diamond for up to $29m

By: Creamer Media Reporter      25th May 2016 Auction house Christie’s will, next month, auction off the Cullinan Dream – a 24.18 ct fancy intense blue Type IIb diamond – that is expected to sell for between $23-million and $29-million. The diamond was cut from a larger 122.52 ct diamond discovered at Petra Diamonds’ Cullinan mine, in South... 

Anglo Pacific optimistic about higher 2016 royalty income

By: Creamer Media Reporter      25th May 2016 LSE- and TSX-listed Anglo Pacific expects its royalty income for the full 2016 financial year to be significantly higher than the £8.7-million earned in 2015. The company noted in a trading update on Wednesday that royalty income for the first quarter of the year, ended March 31, was... 

Joint panel formed to review Teck Resources oil sands project

By: Samantha Herbst     25th May 2016 A three-member joint panel of environmental experts has been established to review diversified miner Teck Resources’ proposed Frontier oil sands mine project, in Northern Alberta, announced Environment and Climate Change Minister Catherine McKenna and Alberta Energy Regulator president and CEO... 

Wildfire-hit Athabasca Oil resumes operations at Hangingstone

By: Samantha Herbst     25th May 2016 TSX-listed energy company Athabasca Oil Corporation has resumed operations at its Hangingstone facility, 20 km south of Fort McMurray, which has been engulfed by a Canadian wildfire starting in early May, forcing widespread evacuations and a prolonged shutdown of all oil operations in the region.... 

Prairie to apply for mining concession in H1 2017

By: Mariaan Webb     25th May 2016 ASX-listed Prairie Mining said on Wednesday that it had made substantial progress in various permitting aspects of its Lublin coal project, in Poland, which would pave the way for a mining concession application in the first half of 2017. In Poland, companies had to submit a deposit development... 

MZI expects ‘significantly’ improved revenue as Keysbrook ramps up

By: Mariaan Webb     25th May 2016 ASX-listed MZI Resources expected to report “significantly” improved production and sales revenue in the June quarter, as its flagship Keysbrook mineral sands project, in Western Australia, continued to perform, MD Trevor Matthews reported on Wednesday. The company, which started production at... 

Higher commodity prices support 26% rise in Q1 Canadian Mining Eye index

     25th May 2016 Higher commodity prices have contributed to a 26% rise in EY’s Canadian Mining Eye index for the first quarter of this year. “Improved gold and base metals prices appeared to generate much-needed positive momentum in the sector. The strong growth of Canadian mining equities also indicates... 

Mineworkers Investment Trust call for mining public and private sector to work together

     25th May 2016 “Managing the Tools and Experience to Impact the Much Needed Transformation in the Mining Industry” will be the topic under discussion at a breakaway session on Social Protection, sponsored by the Mineworkers Investment Trust, at the Second Annual Vision2030 Summit in June. Topco Media will be... 

SA’s top companies to collaborate with Vision 2030 Summit

     25th May 2016 Topco Media is excited to host the second annual Vision 2030 Summit, 8-9 June 2016 at Emperor’s Palace in Johannesburg. The Minister in the Presidency and chairperson of the National Planning Commission, the Honourable Jeff Radebe will once again open the Summit. Other prominent speakers include... 

RBCT CEO to stand down

By: Martin Creamer     24th May 2016 Richards Bay Coal Terminal (RBCT) CEO Nosipho Siwisa-Damasane will be stepping down after four years at the helm. RBCT said on Tuesday that GM finance Alan Waller would be taking over as CEO from July 1, when GM strategy and compliance Casper Mbuyazi would assume the finance role. 

Unionised employees strike at Kinross Gold’s Mauritania mine

By: Samantha Herbst     24th May 2016 Following a strike notice issued earlier this month, unionised employees at Kinross Gold's Tasiast mine, in Mauritania, on Tuesday embarked on strike action. Kinross said in a statement that it remained open to restarting negotiations on a new collective agreement and to resolve other outstanding... 

Sarama acquires Bondi gold deposit

By: Anine Kilian     24th May 2016 TSX-listed Sarama Resources has signed a binding heads of agreement with gold producer Orezone Gold to to acquire its Bondi gold deposit, which is near Sarama’s South Houndé project, in south-western Burkina Faso. The South Houndé and Karankasso projects were located 30 km from Bondi, presenting... 

Diamcor expects to complete additional boreholes at Krone-Endora by end-June

     24th May 2016 TSX-V-listed Diamcor Mining expects to have four additional boreholes at its Krone-Endora at Venetia project, in South Africa’s Limpopo province, completed by the end of the June quarter. This followed the award, last month, of a 15-year water-use licence, granting the company permission to... 

Gauteng Transport Authority a step closer – Vadi

By: Natasha Odendaal     24th May 2016 The Gauteng government has made strides in advancing its ambitions of establishing an integrated transport authority and narrowing the fragmentation of the public transport system of South Africa’s most populous province. Addressing media prior to Gauteng Premier David Makhura’s Budget Vote for... 

Oil and gas discoveries at 64-year low as price slump hits exploration budgets

By: Creamer Media Reporter      24th May 2016 Conventional oil and gas discoveries outside North America have fallen to the lowest level since 1952, with recoverable resources of only 12-billion barrels of oil equivalent having been discovered in 2015. Analysis from NYSE-listed IHS, which was published on Tuesday, showed that the volume of... 

Richland targets output beyond 800 000 ct a quarter from Q3

By: Creamer Media Reporter      24th May 2016 Aim-listed Richland Resources expects to ramp up production at its Capricorn Sapphire project, in Australia, to beyond 800 000 ct a quarter from the third quarter of this year. Richland was implementing various modifications and improvements to ensure consistent production above the 800 000 ct a... 

Rio Tinto appoints new technology and innovation head

By: Creamer Media Reporter      24th May 2016 Diversified miner Rio Tinto on Tuesday announced the appointment of Stephen McIntosh as acting group executive for technology and innovation to succeed Greg Lilleyman, who would leave the company after 25 years of service. McIntosh has been with Rio Tinto for almost 30 years. Most recently, he... 

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