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Palladium boom gives South African miners only temporary reprieve

By: Reuters     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... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed 

By: Marleny Arnoldi     17th May 2019 The Competition Appeal Court of South Africa (CACSA) on Friday gave the green light for JSE- and NYSE-listed Sibanye-Stillwater’s proposed takeover of LSE- and JSE-listed Lonmin, dismissing an appeal filed by the Association of Mineworkers and Construction Union. CACSA upheld the Competition... 

Acacia says North Mara to be issued environmental protection order

By: Reuters     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... 

Tailings operations contribute to more than 50% increase in Pan African’s output 

By: Marleny Arnoldi     17th May 2019 Aim- and JSE-listed Pan African Resources has reported solid gold production from its Elikhulu project for the nine months ended March 31, making up for its Evander project’s lossmaking underground operations. Gold production from the company’s continuing operations increased to 123 771 oz, a... 

Iamgold said to explore sale amid gold sector consolidation

By: Bloomberg     17th May 2019 Canadian miner Iamgold is exploring a possible sale of all or part of the company amid a wave of consolidation in the gold sector, according to people familiar with the matter. The Toronto-based miner is working with advisers and has spoken to several potential buyers, said the people, who asked... 

Rebranded Minerals Council reflects the promise of the future 

By: Nadine James     17th May 2019 The Minerals Council South Africa – formerly the Chamber of Mines –  officially rebranded in May 2018, repositioning the organisation to reflect, “the promise of the future”, by amending its role and ethos to drive a positive reform agenda that enables the industry to reach its true economic and... 

Sibanye-Stillwater plans to resume dividend payments in 2020

By: Reuters     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

By: Reuters     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%. 

An 18 000% gain is no longer a reason to abandon London's Aim

By: Bloomberg     16th May 2019 AIM, once seen as a stepping stone for hundreds of small companies wanting to list on the exchange’s main market, has been trying for years—decades even—to get past its reputation as a volatile venue where corporate blowups are commonplace. And for many investors and companies, it’s succeeded. A... 

Metallon demands $132m from Zimbabwe central bank – documents

By: Reuters     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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