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Reuters

Palladium boom gives South African miners only temporary reprieve

17th May 2019 A surge in palladium prices has thrown struggling South African mining companies a lifeline. But it may not be enough. Besides patchy power supplies and high labour costs, South African miners are saddled with ore that typically produces twice as much platinum as palladium - just at a time a... 

Amplats considers sale of Twickenham and Bokoni mines – CEO

17th May 2019 Anglo American Platinum (Amplats) is contemplating the sale of its Bokoni and Twickenham mines in South Africa, a move which would mostly complete the group's divestment strategy, its chief executive told Reuters. The precious metals producer has sold many of its mines as it pivots from the... 

Vale warns Brazil prosecutors another dam at risk of collapse

17th May 2019 Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 people. According to a document published on Thursday, prosecutors said Vale is... 

Acacia says North Mara to be issued environmental protection order

17th May 2019 Acacia Mining said on Friday its North Mara gold mine would be issued an environmental protection order (EPO) relating to alleged historical breaches of environmental regulations in Tanzania. Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania and had... 

Sibanye wins final go-ahead for Lonmin deal

17th May 2019 Competition Appeal Court on Friday gave the green light to Sibanye-Stillwater's takeover of Lonmin in a deal that aims to create the world's second-largest platinum producer. Lonmin's biggest mining union, the Association of Mineworkers and Construction Union, filed an appeal to try to block the... 

Sibanye-Stillwater plans to resume dividend payments in 2020

16th May 2019 Higher prices for industrial precious metals palladium and platinum have boosted earnings at Sibanye-Stillwater, enabling the miner to repay debt and plan to resume dividends next year, its chief executive Neal Froneman said. Sibanye, once the industry's highest dividend payer, last made a... 

Anglo Asian's Azerbaijan gold output rises 22% in 2018

16th May 2019 Azerbaijan's leading gold mining company, Anglo Asian Mining, said on Thursday its gold output rose 22% in 2018 to 72 798 oz from 59 617 oz in 2017. London-listed Anglo Asian produces gold at Gedabek and other Azeri mines in a joint venture with the Azeri state in which the company holds 51%. 

KGHM may beat production goal at Sierra Gorda

16th May 2019 Polish mining company KGHM may produce more copper than planned at its Sierra Gorda mine in Chile in 2019, while keeping capital expenditure (capex) below target, its deputy chief executive in charge of foreign assets said on Thursday. "We see a chance to limit capex at Sierra Gorda while... 

Tongaat Hulett, lenders to consider standstill agreement

16th May 2019 Tongaat Hulett said on Thursday it was looking to negotiate a standstill agreement with its lenders, which had already agreed to waive some of their rights related to their loans to the troubled sugar producer. The news supported Tongaat shares, which have been under pressure since it issued a... 

Metallon demands $132m from Zimbabwe central bank – documents

16th May 2019 Africa-focused gold miner Metallon Corporation is demanding nearly $132-million it says it is owed by Zimbabwe's central bank, legal documents showed on Thursday, as the country's mining sector grapples with a severe dollar crunch. The central bank denied it was in arrears with the company. 

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