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Harmony poised to hit 1.5m oz target – CEO 

By: Martin Creamer     22nd May 2018 Gold mining company Harmony Gold is well on track to hit its target of 1.5-million ounces of gold a year. The two big steps needed to ensure this – the acquisition and recapitalisation of the Hidden Valley gold mine in Papua New Guinea (PNG), and the acquisition of the Moab Khotsong in South... 

Paulson keeps stake in gold investments during Q1 – filing

By: Reuters     16th May 2018 New York-based Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the first quarter of 2018, while other heavyweights including Soros Fund Management, Jana Partners and Caxton Corp all remained unexposed to the metal. The timing for Paulson appeared... 

DRC Mining Code draft regulations complete, but industry still hopes for changes

By: Marleny Arnoldi     15th May 2018 Major mining companies operating in the Democratic Republic of Congo (DRC) remain hopeful that meaningful changes can still be made to the 2018 Mining Code.  

Solidarity seeks at least 10% wage hikes in gold sector

By: Reuters     11th May 2018 South Africa trade union Solidarity has submitted wage hike demands in the gold sector of at least 10% annually over the next three years, according to a document submitted to the Chamber of Mines seen by Reuters. Solidarity only represents about 2% of the workforce in South Africa's gold mines... 

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Ghana mulls shake-up of mining policy in bid to boost income

By: Bloomberg     9th May 2018 Ghana is benefiting little from its mineral wealth and needs a review of its mining code and tax policies, said Vice President Mahamudu Bawumia. While the West African nation holds a 10% stake in most mines in the country, it has earned almost nothing in dividends since 2012, rendering the... 

NUM seeks 37% pay hike from gold miners over two years

By: Reuters     9th May 2018 South Africa’s National Union of Mineworkers (NUM) has submitted wage hike demands in the gold sector of up to 37% over a two year period, according to a document submitted to the Chamber of Mines seen by Reuters. The demands far exceed the current inflation rate of 3.8% and suggest potentially... 

South African output rises as AngloGold delivers at lower cost

By: Martin Creamer     8th May 2018 The smaller South African footprint of gold-mining company AngloGold Ashanti, consisting of one underground mine and one tailings treatment operation on surface, delivered impressive first-quarter results with rising production and reduced rand-denominated costs. Production rocketed 29% at... 

Coal miners next to launch lung disease compensation claims

By: Simone Liedtke     4th May 2018 The Southern African Catholic Bishops Conference (SACBC) Justice and Peace Commission and Richard Spoor Attorneys say coal miners are the next in line to seek compensation for occupational lung diseases. "The battle to secure justice for sick miners in South Africa is not over. We are working... 

Lawyer expects to sign gold miners' silicosis settlement Thursday

By: Reuters     2nd May 2018 A lawyer acting for nearly half a million miners who contracted fatal lung diseases silicosis and tuberculosis in mines said an out-of-court settlement was expected to be signed on Thursday with those gold companies implicated in the issue. The High Court in 2016 set the stage for protracted... 

Anglogold ups Pure Gold stake to 14.9% in parallel with C$10m Pure Gold private placement

By: Henry Lazenby     30th April 2018 South Africa-based multinational gold producer Anglogold Ashanti has agreed to lift its ownership stake in Canadian project developer Pure Gold to 14.9% through a C$7.4-million investment. The deal comes on the back of a parallel private placement led by Sprott Capital Partners as lead... 

Industry hopeful that DRC mining code issues can be resolved

By: Simone Liedtke     23rd April 2018 Mining companies operating in the Democratic Republic of Congo (DRC) are hopeful that their current engagement with civil society and other key interest groups will contribute to a better understanding of certain issues that need to be dealt with before the country’s new mining code is... 

AngloGold’s Venkat resigns to take top job at Vedanta Resources

By: Marleny Arnoldi     16th April 2018 Srinivasan Venkatakrishan (Venkat) will step down as CEO of gold miner AngloGold Ashanti on August 31 to take up the CEO position at diversified miner Vedanta Resources.  

Miners insist on rewrite of Congo mining code to protect exemptions

By: Reuters     6th April 2018 International mining companies have insisted that Democratic Republic of Congo amend portions of a new mining code to respect exemptions they were granted by its predecessor. The companies announced last week that they had submitted a formal proposal to the government but the document itself,... 

Ghana to review corporate tax exemptions for resources sector

By: Reuters     5th April 2018 Ghana plans to review its process for granting corporate tax exemptions to mining and oil companies as part of measures to eliminate fraud and boost revenues, its vice president said on Wednesday. Mahamudu Bawumia said tax exemptions claimed by some resources companies were not transparent, and... 

Sub-Saharan African mining sector to continue facing illegal mining challenges, regulatory risks

By: Marleny Arnoldi     3rd April 2018 Widespread illegal mining activity and rising regulatory risks are two of the biggest challenges that will face the sub-Saharan Africa mining sector in the coming months, research and analysis firm BMI Research says.  

Mining industry submits mining code proposal to DRC govt

By: Marleny Arnoldi     29th March 2018 Mining industry representatives on Thursday submitted a formal proposal to the Democratic Republic of Congo (DRC) Ministry of Mines, aimed at addressing concerns about the country’s recently revised mining code and government’s revenue needs.  

DRC curbs expectations of miners about concessions on code

By: Bloomberg     19th March 2018 Mining companies in the Democratic Republic of Congo (DRC) won’t secure substantial concessions in talks with the state about changes to the industry code, a senior mining official said. The operators, including Glencore Plc and Randgold Resources, are pressing the government to row back on some... 

Energy-intensive firms say carbon tax wrong tool for reducing power emissions

By: Terence Creamer     14th March 2018 The Industry Task Team on Climate Change (ITTCC), which includes many of South Africa’s largest mining and industrial companies, says the proposed carbon tax will have no material impact on reducing carbon emissions from the electricity sector, which is responsible for around half of the... 

Exploration defines new prospect at Altus’ Mali licence

By: Simone Liedtke     13th March 2018 The first phase of prospecting at exploration project generator Altus Strategies’ Sebessounkoto Sud licence, in western Mali, has defined a 2.3-km-long target – the Soa prospect.   The prospect is located about 22 km from AngloGold Ashanti and IamGold's Sadiola gold mine. “Mapping, outcrop and... 

Biggest Ghana mine union plans strikes over Gold Fields jobs

By: Bloomberg     9th March 2018 Ghana’s largest mineworkers’ union plans protests and strikes throughout operations in the country if the government allows Gold Fields’s local unit to dismiss more than 2,000 staff as it starts the process of hiring a contractor to operate its biggest mine in the West African nation. Gold Fields... 

Moab Khotsong, Kopanang sales concluded – AngloGold

By: Nadine James     2nd March 2018 AngloGold Ashanti on Friday announced that the sale of the Moab Khotsong mine to Harmony Gold and the sale of the Kopanang mine to Heaven-Sent SA Sunshine Investment, have been completed. The gross cash proceeds of R3.57-billion will be used to reduce debt, in line with AngloGold’s commitment to... 

Ghana to tighten controls on gold exports to protect revenues

By: Reuters     28th February 2018 Ghana will certify the value of gold exports as part of efforts to tighten controls on the sector to ensure the state receives the revenues it is due, the vice president said on Tuesday. Ghana, Africa's second largest gold miner after South Africa, earned $5.78 billion from exports of the metal... 

Sibanye says clears most illegal miners from gold shafts

By: Reuters     26th February 2018 Precious metals producer Sibanye-Stillwater arrested nearly 1 400 illegal miners at its South African gold shafts last year in a blitz the company says has mostly ended the practice at its mines. Illegal gold mining has plagued South Africa for decades and it costs the government and the industry... 

South Africa falls to small percentage of AngloGold output 

By: Martin Creamer     20th February 2018 South African gold mines now represent around 13% of the AngloGold Ashanti portfolio, AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) said on Tuesday. The fall in the contribution from AngloGold's South Africa region mines follows the sale of Moab and Kopanang and the closure of the Tau... 

Moab Khotsong deal concluded

By: Megan van Wyngaardt     20th February 2018 Harmony Gold on Tuesday said all conditions precedent to its acquisition of Moab Khotsong from AngloGold Ashanti had been met and that the transaction would become effective on March 1. "The integration of Moab Khotsong will enhance the quality of our portfolio and boost our cash flows," said... 

Glencore, Randgold form group to challenge Congo law changes

By: Bloomberg     19th February 2018 Glencore and Randgold Resources are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body. In a letter sent to Congolese President Joseph Kabila on... 

Harmony's headline earnings soar, eight die, Moab transferred

By: Martin Creamer     13th February 2018 Harmony Gold on Tuesday reported improved earnings, production, grade and costs in the six months to December 31, but regrettably also eight fatalities. While Mining Weekly Online was engaged in the media conference, the transfer of ownership of Moab Khotsong assets to Harmony became official,... 

Lack of communication impacts on safety

By: Paige Müller     9th February 2018 Many large companies typically do not have the required technology or resources available to adequately communicate with lower-level staff, which software company Wyzetalk believes affects industry health and safety negatively. “Organisations provide a corporate email address for executives and... 

Randgold Resources achieves record production, reduces cost in high-performance year

By: Mia Breytenbach     5th February 2018 Randgold Resources has, for the seventh consecutive year, increased its gold production, boosting output by 5% year-on-year to 1.32-million ounces and exceeding the guidance for 2017. The miner has further reduced its total cash cost by 3% to $620/oz – the lowest level in six years. 

Harmony gets shareholder go-ahead for Moab Khotsong acquisition

By: Megan van Wyngaardt     1st February 2018 JSE-listed Harmony Gold Mining's shareholders have given a 99.6% approval of the miner's plans to acquire mining operations and related infrastructure from AngloGold Ashanti. The $300-million deal will include the Moab Khotsong mine, one of the newest South African deep-level mines, with... 

AngloGold output up but loss looms on impairment, retrenchment, silicosis costs

By: Martin Creamer     31st January 2018 Gold mining company AngloGold Ashanti produced more gold in the 12 months to December 31 than in the same period of 2016, but is heading for a basic loss for the period on impairment, retrenchment and silicosis settlement costs, the company said in a trading statement on Wednesday. Full-year... 

Harmony shareholders to vote on Moab Khotsong deal on Feb 1

By: Natasha Odendaal     25th January 2018 Harmony Gold has removed two resolutions from its meeting agenda to seek shareholder approval for the acquisition of Moab Khotsong, after reducing the potential equity capital raising from $200-million to $100-million on the back of sufficient cash resources and a strong production performance.... 

Silicosis trust has awarded quarter of R400m settlement to qualifying former mineworkers

By: Natasha Odendaal     10th January 2018 A trust formed in 2016 to compensate a group of former Anglo American South Africa and AngloGold Ashanti employees who suffer from silica-related illnesses, has already distributed about R102-million of a R395-million settlement. The Q(h)ubeka Trust was established in March 2016 following the... 

SCA postpones silicosis class action hearing

By: Megan van Wyngaardt     10th January 2018 The ongoing silicosis and tuberculosis class action litigation against South African gold miners has been postponed, following a request by representative attorneys to the registrar at the Supreme Court of Appeal (SCA) to do so. The SCA has granted approval for the postponement. The joint letter... 

AngloGold’s Tropicana JV commits to Long Island strategy

By: Mariaan Webb     7th December 2017 Joint venture (JV) partners AngloGold Ashanti and Independence Group have committed to the initial phase of the Long Island strategy, which will ultimately add 2.1-million ounces to the Tropicana mine’s business plan and will extend the operation’s mine life by seven years to 2027. The... 

Vector eyes resource adjacent to world-class Kibali mine

By: Mariaan Webb     7th December 2017 Australian junior Vector Resources is negotiating with the Democratic Republic of Congo’s State miner, Sokimo, to establish two joint ventures (JVs), one of which is adjacent to the large Kibali gold mine of Randgold Resources and AngloGold Ashanti. Vector has signed a binding agreement with... 

Harmony Gold spells out value of Moab investment

By: Martin Creamer     6th December 2017 The acquisition of the Moab Khotsong gold mine represents a significant list of advantages for Harmony Gold, the company outlined in an investor brief on Wednesday. The Johannesburg Stock Exchange-listed gold mining company calculates that inclusion of the Moab Khotsong operations the company... 

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