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Mining News

Eskom lays bare its monumental challenges 

By: Martin Creamer     4th February 2019 When Eskom had 32 000 employees, debt of R40-billion and an output of 40 000 MW, it was a world-beater, Eskom group CE Phakamani Hadebe said on Monday. But its current employee level of 47 000 employees, debt of R440-billion and output of only 38 000 MW are presenting major turn-around challenges. 

Global demand for coal rises despite uncertainty

By: Kim Cloete     4th February 2019 Despite a move to renewable energy, particularly in Europe, demand for coal globally soared in 2018, led by low calorific value (CV) coal demand. The strongest import markets were China and India, while Indonesia performed extremely strongly on the supply side. China’s demand for coal... 

Goldplat's South African, Ghana subsidiaries achieve solid Q2 performance

By: Simone Liedtke     4th February 2019 Aim-listed Goldplat on Monday announced a 57% quarter-on-quarter increase in the production of gold-equivalent ounces for the second quarter ended December 31. Output was, however, 4% lower year-on-year. 

Coal exports have not risen since 2008, with the IRP posing a further threat, says Minerals Council

By: Kim Cloete     4th February 2019 Coal production, exports and investment in the industry have remained stagnant since 2008, despite higher export prices and South Africa’s abundant coal reserves, says the Minerals Council South Africa. “Even as the coal export price soared, export volumes failed to respond,” Minerals Council... 

IronRidge’s Côte d’Ivoire field activities ‘gaining momentum’

By: Simone Liedtke     4th February 2019 Field activities are gaining momentum in Côte d’Ivoire, West Africa, for Aim-listed IronRidge Resources’ portfolio of projects, as the country enters its dry season for 2019. Commenting on the company’s latest progress, IronRidge COO Len Kolff noted in a statement on Monday that airborne... 

Significant new target areas discovered at Zamsort

By: Tasneem Bulbulia     4th February 2019 Initial results from Arc Minerals’ airborne geophysical and soil sampling programme at the Zamsort copper/cobalt project, in north-western Zambia, have identified significant new target areas. Two large new targets – Cheyeza West and Lumbeta – have been discovered. 

Altus defines drill targets at Diba

By: Tasneem Bulbulia     4th February 2019 Africa-focused Altus Strategies has defined a series of drill targets to test the potential of expanding the Diba gold project, strategically located 13 km south of the multimillion-ounce Sadiola gold mine in the Kenieba Window gold belt in Mali. The project hosts a near-surface, shallow dipping,... 

Songwe Hill mineral resource increases by 60%

By: Tasneem Bulbulia     4th February 2019 The measured and indicated mineral resource at Mkango Resources’ Songwe Hill Rare Earths project, in Malawi, has increased by about 60% to 21-million tonnes. The results of an updated mineral resource estimate, published on Monday, further show that the majority of the previously delineated... 

Mantashe calls for mining investment amid renewed regulatory certainty  

By: Kim Cloete     4th February 2019 Mineral Resources Minister Gwede Mantashe has assured investors it is safe and stable to invest in the South African mining industry, with the return of regulatory certainty and a revised Mining Charter. “There was a lot of policy and regulatory uncertainty for the better part of last year. We... 

Mantashe calls for mining investment amid renewed regulatory certainty
Mineral Resources Minister Gwede Mantashe says the revised Mining Charter and regulatory certainty should encourage people to invest in South Africa's mining sector. Camera work and editing: Nicholas Boyd.

Call made for better connection with mining communities, stable regulation

By: Kim Cloete     4th February 2019 Stakeholders in the mining industry have called for stable regulation and agreed that there needs to be more collaboration and communication between mining houses, communities and mineworkers. Anglo American CEO Mark Cutifani told the Investing in African Mining Indaba in Cape Town that mining... 

Eskom warns of R20bn losses this year and next, even after big hikes  

By: Terence Creamer     4th February 2019 State-owned electricity utility Eskom is warning that its loss for 2018/19 will be worse, at R20-billion, than the R15-billion loss it had projected earlier and that it will be followed by another big loss in 2019/20 even if it receives hikes it is currently seeking from the regulator. CFO Calib... 

Eskom warns of R20bn losses this year and next, even after big hikes
Photo by Dylan Slater
Eskom CFO Calib Cassim

Firestone on track to meet FY guidance despite subdued environment

By: Simone Liedtke     4th February 2019 Aim-listed Firestone Diamonds on Monday reported that it had treated 1.9-million tonnes of ore in the six months to December 31, in line with the company’s full-year guidance of between 3.6-million tonnes and 3.9-million tonnes treated. In a quarterly operations update for its Liqhobong diamond... 

Innovation mining’s biggest challenge – Anglo 

By: Martin Creamer     4th February 2019 The world is standing on the brink of a technological revolution that will result in transformation unlike anything human kind has experienced before, which is making innovation mining’s biggest challenge. “In the next five years, it’s about major step changes in innovation,” Anglo American CEO... 

Innovation mining’s biggest challenge – Anglo
Anglo American corporate relations director Anik Michaud discusses the group's sustainability strategy, while CEO Mark Cutifani talks about the group's plans for innovation over the next five years. Video and editing: Nicholas Boyd.

HCL starts work on reopening copper mine, developing greenfield reserve

By: Ajoy K Das     4th February 2019 Indian State-run Hindustan Copper Limited (HCL), the country’s sole integrated copper producer, on Saturday started construction of a concentrator at its Rakha mines, marking efforts to restart the mines in the eastern state of Jharkhand. The ground-breaking ceremony at Rakha for construction of... 

Minerals Council reports mining industry’s 2018 successes

By: Tasneem Bulbulia     4th February 2019 South Africa’s mining industry contributed R356-billion to the country’s gross domestic product (GDP) in 2018, an increase on the R335-billion contribution in 2017, the Minerals Council South Africa ‘Facts and Figures 2018 Pocketbook’ shows. The pocketbook, which was released on Monday during a... 

Mining green shoots sprouting – Minerals Council 

By: Martin Creamer     4th February 2019 Green shoots are sprouting in South Africa’s mining sector, which is readying for new take off, Minerals Council South Africa CEO Roger Baxter said on Monday. In a briefing on the State of the Mining Nation on the sidelines of the opening day of the Investing in African Mining Indaba, Baxter told... 

Mining green shoots sprouting – Minerals Council
Minerals Council CEO Roger Baxter

Brazil dam burst death toll rises

By: Reuters     4th February 2019 The death toll from a dam burst in the Brazilian town of Brumadinho rose to 115 people on Friday, according to the team tasked with recovering bodies from the site. The rescue and recovery team said that 248 people were now listed as missing, a number that grew by ten after miner Vale, which... 

Hot Chili grows holding around flagship Productora

By: Esmarie Iannucci     4th February 2019 Chile-focused metals developer Hot Chili would raise A$3.2-million through a share placement and rights issue, while making a move to consolidate the tenements surrounding its Productora copper project. Hot Chili on Monday announced that it would raise A$1-million through a private placement to... 

Hot Chili grows holding around flagship Productora

Nullagine gets greater reserves

By: Esmarie Iannucci     4th February 2019 Gold junior Millennium Minerals has increased the ore reserve at its Nullagine project, in Western Australia, by 70%. The ASX-listed company told shareholders on Monday that successful exploration and growth programmes had added some 150 000 oz to the reserve base, which now stood at 7.1-million... 

Mining 'walking into a brighter future' – Makwana  

By: Martin Creamer     4th February 2019 Mining was walking into a brighter future and the appetite for mining investment was strengthening, attendees of the Investing in African Mining Indaba heard on Monday. Opening the 25th consecutive Investing in African Mining Indaba Cape Town, attention was drawn to stepped up investment in... 

Mining 'walking into a brighter future' – Makwana
Mining Indaba MD Alex Grose and Mining Indaba advisory board chairperson Mpho Makwana discuss trends in the mining industry and what is to be expected from this year's Mining Indaba. Video and editing: Nicholas Boyd.

Heron facing higher costs at Woodlawn

By: Esmarie Iannucci     4th February 2019 ASX-listed Heron Resources is facing a near A$50-million cost overrun at its Woodlawn base metals project, in New South Wales. Heron on Monday reported that the company had received a A$49.9-million progress claim from contractor Sedgman, which was over and above the agreed upon A$109-million... 

Greater Southern raises exploration funds

By: Esmarie Iannucci     4th February 2019 ASX-listed Greater Southern Mining will raise up to A$5-million through a share placement to fund exploration work at its Laverton and North Queensland operations. The company told shareholders that the issue price and the corresponding number of shares to be issued would still be determined,... 

Implats expects higher H1 output, earnings a share

By: Tasneem Bulbulia     4th February 2019 JSE-listed Impala Platinum (Implats) expects to report a 10% year-on-year increase in refined platinum production to 800 000 oz for the six months ended December 31, compared with the 727 000 oz produced in the six months ended December 31, 2017. The increase in refined platinum production is... 

AngloGold expects to report higher FY18 profit

By: Simone Liedtke     4th February 2019 AngloGold Ashanti expects to report headline earnings a share of between 50c and 54c for the year ended December 31. This is a significant increase compared with the headline earnings a share of 6c reported for the comparative period. 

EFF says in election manifesto to nationalise mines 

By: Reuters     4th February 2019 South Africa's radical leftist Economic Freedom Fighters (EFF) will nationalise all mines by 2023 if elected this year, the party said in its election manifesto launched on Saturday. The party is using an anti-corruption, jobs creation and state control of the economy platform to challenge the... 

India's Vedanta says Anglo American stake buy meets governance requirements

By: Reuters     4th February 2019 Indian miner Vedanta said on Monday that its foreign unit Cairn India Holdings Limited's investment in Anglo American met all governance requirements. Vedanta's statement comes days after its shares plunged on Friday, as investors were skeptical of the merits of the investment and questioned the... 

Transnet says coal exports expected to dip this year

By: Kim Cloete     1st February 2019 Coal exports are expected to drop this year, following a disappointingly slow run over the past few months, says Transnet Freight Rail coal GM Mandisa Mondi. “For the current financial year, the target for export was 77-million tonnes. We are trending at 73-million tonnes. We hope to have a good... 

Technical defects at Medupi and Kusile resulting in serious underperformance  

By: Terence Creamer     1st February 2019 State-owned electricity producer Eskom has offered a sobering update on the difficulties it is having at its Medupi and Kusile coal projects, which are not only years behind schedule and significantly over budget, but are now also beset with technical defects that are resulting in a serious... 

Technical defects at Medupi and Kusile resulting in serious underperformance

Underlying demand growth remains a boon for cobalt and copper – ERG

By: Tasneem Bulbulia     1st February 2019 While many industrial commodities fell victim to geopolitical and macroeconomic woes in 2018, Eurasian Resources Group (ERG) CEO Benedikt Sobotka expects to see a strong upside for cobalt and copper this year as underlying demand rallies. With some additional volatility expected ahead, the severe... 

Katanga advances cobalt debottlenecking project  

By: Tasneem Bulbulia     1st February 2019 Katanga Mining, which is a subsidiary of diversified major Glencore, says its cobalt debottlenecking project is progressing on schedule. In an update to shareholders published on Friday, the Democratic Republic of Congo-based company said three new filter presses, a magnesium oxide reagent plant... 

DRDGold’s Q2 production down 5% q/q

By: Tasneem Bulbulia     1st February 2019 DRDGold’s production decreased by 5% quarter-on-quarter in the second quarter ended December 31, primarily as a result of an 8% drop in tonnage throughput. The lower throughput from Ergo Mining, a joint venture between DRDGold and Mintails, was mainly the result of power interruptions experienced... 

AfriTin to add components to Uis pilot plant

By: Tasneem Bulbulia     1st February 2019 AfriTin Mining has decided to implement two additional components to the Phase 1 pilot plant at its Uis tin mine, in Namibia. To increase plant throughput capacity and flexibility, a third dense medium separation section has been procured and a magnetic separation circuit will be installed in the... 

Zambia fires CEO of State mining investment arm ZCCM-IH

By: Reuters     1st February 2019 Zambia has fired Dr Pius Kasolo, the CE of State mining investment arm Zambia Consolidated Copper Mines Investment Holding (ZCCM-IH), Mines Minister Richard Musukwa said on Friday, without giving a reason. On Monday, Kasolo said the government should quickly resolve its tax row with mining... 

Mantashe to open the African Mining Indaba 

By: African News Agency      1st February 2019 Mineral Resources Minister Gwede Mantashe is expected to officially open the annual Investing in African Mining Indaba in Cape Town on Monday. In a statement, the department of mineral resources said the minister will be joined by his cabinet colleagues as they engage delegates at the Indaba. The... 

Mantashe to open the African Mining Indaba
Mineral Resources Minister Gwede Mantashe

First Quantum resumes copper production at Spain mine

By: Creamer Media Reporter      1st February 2019 Canada-based First Quantum has resumed copper production at the hydrometallurgical plant at Cobre Las Cruces, in Spain, processing lower-grade stockpiled ore while it obtains necessary regulatory approvals to begin mining at an area unaffected by a recent land slippage. The slippage occurred... 

Rising US coal exports fail to stem domestic decline

By: Mariaan Webb     1st February 2019 Despite promises to revive the US coal mining industry, analysts are saying that the country’s policy actions are not enough to reverse the trend of declining coal demand from the power generation industry. In 2018, US coal production fell to 755-million short tons – a 20-million short ton... 

Rising US coal exports fail to stem domestic decline

Eskom revises tariff upwards as it unveils shock changes to Nersa submission  

By: Terence Creamer     1st February 2019 Embattled electricity utility Eskom has made shock adjustments to its revenue application currently before the National Energy Regulator of South Africa (Nersa), which, if approved, would translate into tariff increases that are even higher than the 15% a year hikes sought in its initial... 

Eskom revises tariff upwards as it unveils shock changes to Nersa submission
Photo by Dylan Slater
Eskom CFO Calib Cassim

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