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Pan American hikes quarterly dividend 43%

By: Creamer Media Reporter      21st February 2020 Nasdaq- and TSX-listed Pan American Silver has had a strong 2019, during which it generated $282-million in operational cash flow, allowing for $60-million in debt to be retired, a shareholder payout of about $29-million, investment in new projects and an improved cash position. The miner... 

New Concor chief sees surge in issuance of large tenders as sign of possible construction turnaround 

By: Terence Creamer     19th February 2020 Newly appointed Concor CEO Lucas Tseki believes the strong flow of tenders in the last quarter of 2019 could signal that the domestic construction market is finally bottoming out. He is also cautiously optimistic that infrastructure-focused departments and State-owned enterprises (SOEs) are, at... 

Miners welcome Indonesia's new jobs bill that could spur coal growth

By: Reuters     18th February 2020 Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that the changes could underpin an expansion in polluting coal and threaten environment protection. President Joko Widodo's sprawling "Job Creation" bill... 

Record-performing Amplats applying for 75 MW solar power at Mogalakwena

By: Martin Creamer     17th February 2020 Platinum group metals (PGMs) mining company Anglo American, which has reported record safety, record financials and the highest dividend in 15 years, has submitted an application to be allowed to self-generate 75 MW of solar power at its Mogalakwena mine where the world’s largest hydrogen fuel... 

Minnesota Natural Resources Dept and PolyMet approach Supreme Court

By: Mariaan Webb     17th February 2020 The Minnesota Department of Natural Resources (DNR) and Toronto-headquartered PolyMet Mining have approached the Supreme Court to review last month’s state Court of Appeals decision on permits for the NorthMet project. The DNR is seeking a review of a decision regarding three permits that it... 

Renewables bodies call for clear timelines after Ramaphosa commits to restarting IPP procurement

By: Terence Creamer     14th February 2020 South Africa’s wind and solar industry bodies have welcomed President Cyril Ramaphosa’s commitment, made in his 2020 State of the Nation Address (SoNA), to restarting the long-delayed Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). However, they have also called on... 

AngloGold’s Mponeng sale credit positive – Moody’s

By: Tasneem Bulbulia     14th February 2020 Ratings agency Moody’s Investors Service has rated miner AngloGold Ashanti’s decision to sell its remaining South Africa operating assets to Harmony Gold Mining Company as credit positive. This is because it reduces the company’s average all-in sustaining cost (AISC) by about 2.4% and allows it... 

Seifsa, Minerals Council react positively to SoNA commitments

By: Marleny Arnoldi     14th February 2020 The mining and metals and engineering sectors have mostly welcomed President Cyril Ramaphosa’s plans around energy and infrastructure, following his State of the Nation Address (SoNA) on Thursday night. The Minerals Council South Africa said in a statement that it was encouraged by the... 

Agnico Eagle trims 2020 guidance on slower Nunavut ramp-up

By: Mariaan Webb     14th February 2020 Gold producer Agnico Eagle CEO Sean Boyd said on Thursday that he remained confident in the business, despite trimming its 2020 guidance to reflect a slower ramp-up at its new mines in Nunavut, Canada. The miner, which also owns operations in Finland and Mexico, is forecasting 2020 production to... 

Ramaphosa announces new science and technology varsity

By: News24Wire      14th February 2020 The people of Ekurhuleni in Gauteng will soon enjoy a new science and technology university, President Cyril Ramaphosa promised during his State of the Nation Address (SoNA) on Thursday night. "We will enable young people in that metro to be trained in high-impact and cutting edge technological... 

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