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South Deep output 43% down, costs 56% up – Gold Fields

By: Martin Creamer     Updated 1 hour 58 minutes ago Quarter-on-quarter gold production at the South Deep gold mine fell 43% in the first three months of 2017, when costs soared 56%, Gold Fields reported on Wednesday. All-in costs (AIC) at the mechanised mine, located 45 km southwest of Johannesburg, rose to a high level of $1 821/oz in the first... 

Newmont’s Q1 results surprise to the upside as output, prices rise

By: Henry Lazenby     26th April 2017 US gold major Newmont Mining has surprised investors by beating average consensus estimates during the first quarter ended March, as the miner reported improved output and prices, which were slightly offset by higher costs. The Denver, Colorado-based miner reported net income from continuing... 

South American flavour coming to South Africa through Las Iguanas

By: Megan van Wyngaardt     13th April 2017 A new restaurant chain specialising in authentic Mexican, Brazilian and South American food and cocktails, is coming to Johannesburg in June, with Gold Brands bringing the UK midmarket restaurant brand Las Iguanas to the local market. “South Africans are always hungry for new places to dine, and... 

SA Hippo Main Attraction At PDAC 2017 Exhibition In Toronto

     4th April 2017 The PDAC International Convention, Trade Show & Investors Exchange is the world's leading Convention for people, companies and organizations in, or connected with, mineral exploration. Over 900 exhibitors and 22,000 attendees from over 100 countries will attend, while technical sessions, short... 

Swedish miner says Donald Trump doesn't hold key to metal prices

By: Bloomberg     28th March 2017 The operator of some of Europe’s largest copper and zinc mines expects President Donald Trump’s plans to spend on US infrastructure to have much less impact on base-metal prices than the needs of burgeoning middle-class populations in emerging markets. That’s because projects in the US and other... 

Saudi Arabia to build three fly farms, says AgriProtein

By: Irma Venter     28th March 2017 The Kingdom of Saudi Arabia is to host the Middle East’s first fly farm, following the completion of a licensing deal between Saudi technology hub Sajt and waste-to-nutrient group AgriProtein. 
The agreement signals the start of a new industry for the region, namely the commercial-scale... 

South32 to return additional $500m to shareholders

By: Martin Creamer     27th March 2017 Diversified mining company South32 on Monday announced that it intends to return an additional $500-million to shareholders, equating to 4.5% of the group’s current market capitalisation. The Sydney-, London- and Johannesburg-listed company said in a media release that this dividend-complementing... 

Gold company manager charged in vast Peruvian smuggling plot

By: Bloomberg     17th March 2017 The operations manager at a metals-refining company was charged with helping run a gold smuggling network that reaped-billions of dollars for illegal mines controlled by drug dealers and other criminals in South America. A criminal complaint against Juan Pablo Granda, 35, outlines a vast... 

Wealth Minerals files technical report that will guide Atacama lithium exploration

By: Henry Lazenby     17th March 2017 Vancouver-based lithium exploration junior Wealth Minerals has filed a Canadian National Instrument 43-101-compliant technical report with securities regulators that will guide a two-pronged exploration campaign at the company’s Atacama lithium project, in Chile. To test the exploration potential... 

Volkswagen restructures to fill sub-Saharan Africa gaps

By: Irma Venter     17th March 2017 German car manufacturer Volkswagen has established Volkswagen Sub-Saharan Africa as a regional operation, in a move aimed at developing and strengthening the African market. The new region joins the existing regions of North America, South America and China, and forms part of Volkswagen’s... 

What to expect on trade agreements front in 2017

By: Taapano Paradza      17th March 2017 As far as trade agreements are concerned, 2016 was an unprecedented year, with significant activity occurring that had never been witnessed in the past decade. The Economic Partnership Agreement with the European Union and South Africa’s first trade agreement with South America, the Common Market... 

VWSA MD takes on regional responsibility; Rwanda to open VW plant

By: Irma Venter     2nd March 2017 German car manufacturer Volkswagen has established Volkswagen Sub-Saharan Africa as a regional operation, in a move aimed at developing and strengthening the African market. The new region joins the existing regions of North America, South America and China, and forms part of Volkswagen’s... 

Despite missing analyst estimates, Newmont lifts FY headline earnings 89%

By: Henry Lazenby     22nd February 2017 US gold major Newmont Mining has reported an 89% increase in full-year 2016 adjusted earnings of $619-million, or $1.16 a diluted share, missing average analyst forecasts calling for earnings of $1.54 a share. The net loss attributable to Newmont stockholders from continuing operations narrowed... 

Major South African coal extension project on cards – South32

By: Martin Creamer     16th February 2017 A decision will be taken in the June quarter on go-ahead for the Klipspruit Life Extension coal project in Mpumalanga, which is said to have robust economics. The original BHP Billiton capital expenditure (capex) of $500-million-plus for the two-year development has been more than halved under... 

Atrum prepares for busy 2017

By: Esmarie Swanepoel     14th February 2017 Coal project developer Atrum Coal has revealed plans to advance its Groundhog North project, in Canada, during this year. The company on Tuesday said it plans to submit an application for a small mine permit this year, to enable Atrum to start commercial operations at a rate of 250 000 t/y. 

SA Hippo To Exhibit At PDAC In Toronto

     10th February 2017 The PDAC International Convention, Trade Show & Investors Exchange is the world's leading Convention for people, companies and organizations in, or connected with, mineral exploration. Over 900 exhibitors and 22,000 attendees from over 100 countries will attend, while technical sessions, short... 

CMC Networks in New Partnership with The Carlyle Group

     8th February 2017 CMC Networks, Africa’s largest managed connectivity provider, today announced that The Carlyle Group, a Global Alternative Asset Manager, has acquired a majority shareholding of CMC.  The transaction value exceeds $100 million (R1.4 billion) and Carlyle’s investment gives them a majority... 

Right conditions will unlock shared value for all South Africans – South32

By: Martin Creamer     6th February 2017 The right conditions will enable mining companies to deliver inclusive growth and meet the expectations of stakeholders, as well as deliver superior returns to shareholders, South32 president and COO Africa Mike Fraser said on Monday. In delivering a forceful address at the Investing in African... 

AngloGold expects up to 262% increase in headline earnings

By: Creamer Media Reporter      2nd February 2017 AngloGold Ashanti expects to report a 242% to 262% year-on-year increase in headline earnings to $104-million to $118-million for the year ended December 31. Headline earnings a share are expected to be 239% to 256% higher year-on-year. 

Mashaba cans R1bn Jozi@Work programme

By: African News Agency      2nd February 2017 Johannesburg Mayor Herman Mashaba on Thursday cancelled the City’s R1-billion co-production programme Jozi@Work, which was spearheaded by the previous administration, saying that it was littered with patronage. Jozi@Work, a programme designed to allow communities to partner with the city in the... 

Rio unit born in Death Valley is retooled for battery boom

By: Bloomberg     31st January 2017 During the financial crisis,  Rio Tinto Group needed cash and tried to unload its oldest mining business – one that began in 1872 hauling borates salts by mule from Death Valley to make US laundry soap. The company gave up on a sale because no one would pay the asking price. A decade later, the... 

Burner management systems market anticipates 5.5% growth by 2024

     27th January 2017 The global market for burner management systems (BMS) is projected to be worth $7.39-billion by 2024, expanding at a compound annual growth rate (CAGR) of 5.5% in that period, explains market research service provider Transparency Market Research (TMR). 

Ferrum appoints new project manager, firms deal with chairperson

By: Megan van Wyngaardt     9th January 2017 Triple-listed metals project developer Ferrum Crescent has entered into a contract of employment with its executive chairperson Justin Tooth to replace interim arrangements agreed at the time of his appointment in December. The contract has no fixed term and may be terminated by either party on... 

Eldorado, Goldcorp shuffle senior executives

By: Henry Lazenby     17th December 2016 Mid-tier miner Eldorado Gold on Friday announced the planned retirement of president and CEO Paul Wright in April 2017, nominating current Goldcorp executive VP and COO George Burns to succeed him. Vancouver-based Eldorado said Wright will remain on the Eldorado board as chairperson, replacing... 

Latin American miners expected to persist with cost-cutting and disinvestment strategies

By: Henry Lazenby     16th December 2016 The end of the commodities supercycle continues to have a dampening effect on several South American economies, especially those that previously relied on high hydrocarbons prices to achieve high rates of growth. As well as hitting government earnings and rates of economic expansion, the... 

Barrick appoints new member to the board

By: Anine Kilian     7th December 2016 TSX-listed Barrick Gold has appointed Argentinian Pablo Marcet to the company's board of directors. In a statement released on Wednesday, the company said his appointment reflected the increasingly important role the South American region will play in Barrick's long-term growth strategy. 

Agribusiness to face several challenges in the new year – Agbiz

By: Anine Kilian     25th November 2016 The South African agribusiness environment will be faced with various challenges in 2017, especially in terms of engaging with key land reform legislation, according to Agricultural Business Chamber (Agbiz) CEO Dr John Purchase, who delivered an agricultural industry forecast for 2017 on Friday.... 

Emerging phosphate miner gains momentum, aims to ‘change’ mining perception

By: Natasha Odendaal     25th November 2016 Emerging miner Kropz is working to change the perception of mining and become the new industry benchmark through the responsible operation and rehabilitation of the  Elandsfontein phosphate mine, near Saldanha Bay. The R1.35-billion Western Cape-based mine, a 70:30 joint venture between Kropz and... 

Filtration group focuses on product expansion

     25th November 2016 Filtration group CLARCOR Engine Mobile Group released over 250 filtration products in the first half of this year. 

Orocobre takes 31% Advantage stake as activity in South America’s lithium triangle heats up

By: Henry Lazenby     23rd November 2016 Investment activity in South America’s so-called ‘lithium triangle’ salt flats, or salars, is heating up with the announcement Wednesday that lithium producer Orocobre has signed a letter of intent (LoI) to acquire 31% of Advantage Lithium, in a deal valued at about $33-million. In return,... 

Gold from woodchips, grease, mine muck surprises on upside 

By: Martin Creamer     21st November 2016 The recovery of gold from mine waste at Goldplat Recovery in Benoni generates a surprisingly high level of revenue while simultaneously protecting the environment and providing hundreds of valuable jobs. The London Aim-listed Goldplat, a bona fide junior producer from secondary material, last... 

Angola Cables, Etix team up to provide direct US–Africa connection

By: Natasha Odendaal     16th November 2016 Angolan telecommunications company Angola Cables and Luxembourg-headquartered data centre and cable landing station specialist Etix Everywhere have partnered to build infrastructure to reduce the latency between the US and Africa, thereby eliminating the data route through Europe. The parties... 

Ecuador says BHP, billionaire Rinehart seek to join metals chase

By: Bloomberg     8th November 2016 BHP Billiton, the world’s largest miner, and billionaire Gina Rinehart’s Hancock Prospecting, are among commodity producers to have held talks over a potential entry into mining and exploration projects in Ecuador, according to the nation’s government. Both producers had discussions with... 

Custom-made hoses to be used by railway groups

     4th November 2016 Benoni-based automotive tyre and industrial rubber products producer Dunlop Industrial Products has a high penetration in the African continent where it supplies custom-made solutions, such as the design and supply of vacuum and air brake hoses for State-owned utility Transnet, Passenger Rail... 

South Atlantic cable to offer cost, connectivity benefits

By: Schalk Burger     4th November 2016 The $130-million South Atlantic Cable System (SACS) will reduce latency between Africa and South America from 300 ms to 63 ms once it is completed in mid-2018, says Angola Cables CEO Antonio Nunes. The cable system, which traverses 6 500 km of the Atlantic between Fortaleza, Brazil, and Sangano,... 

Third-quarter Glencore coal production down on Optimum disposal

By: Martin Creamer     3rd November 2016 Third-quarter production of diversified major Glencore reflects the various operational suspensions and supply reductions announced and actioned notably in coal, oil, copper and zinc. The London-, Hong Kong- and Johannesburg-listed mining and marketing company, headed by CEO Ivan Glasenberg, said... 

South32 makes first acquisition, pays $200m for Peabody mine in Australia

By: Esmarie Swanepoel     3rd November 2016 Diversified miner South32 has made its first acquisition since demerging from major BHP Billiton, spending $200-million on US major Peabody Energy’s Metropolitan colliery and its 16.67% stake in the Port Kembla coal terminal, in New South Wales. “The Metropolitan colliery is a natural fit within... 

Goldplat sees positive production and financial quarter, projects progressing

By: Ilan Solomons     27th October 2016 Africa-focused gold producer Goldplat produced a total of 9 129 oz of gold and gold equivalents from all its operations during the three months to September 30, with improvements in operating profitability at its recovery operations. Goldplat CEO Gerard Kisbey-Green said on Thursday that good... 

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