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AngloGold ups half-year earnings, cash flow

By: Martin Creamer     Updated 3 hours ago Solid production and cost performances helped gold-mining company AngloGold Ashanti to deliver higher earnings and cash flow in the first half of this year. The increase in headline earnings of $85-million compared with a loss of $93-million in the first half of 2017 for the company, which is... 

AECOM wins CESA Aon Award for Cape Flats 3 Bulk Sewer – Phase 2

By: Creamer Media Reporter      17th August 2018 Integrated infrastructure delivery company AECOM was a winner in the category projects with a value greater than R250 million for the Cape Flats 3 Bulk Sewer – Phase 2 (CF3-2) project at the 2018 CESA Aon Engineering Excellence Awards on 15 August. Designed by AECOM and constructed by CSV... 

Construction advancing on eCobalt’s Idaho project

By: Anine Kilian     17th August 2018 Construction at eCobalt Solutions’ Idaho cobalt project, in the Idaho cobalt belt, continues to advance on time and on budget, the company said on Thursday. “Very good progress has been made at the project by our exceptional team of mining professionals,” CEO Paul Farquharson said in statement on... 

“Once you experience the value of Atlas Copco there’s no looking back” - Dynamic Air

17th August 2018 Dynamic Air recently purchased two XATS1200 compressors from Atlas Copco Power Technique to replace older same brand compressors for one of their customers in the oil refinery industry. “Having reached between 18 000 and 21 00 hours, we can safely say that these two Atlas Copco compressors have... 

Evolution's profits surge in 2018

By: Esmarie Swanepoel     17th August 2018 Gold miner Evolution has reported a 21% surge in underlying net profits after tax for the 2018 financial year, on the back of a 4% increase in sales revenues. Underlying net profits after tax for the full year ending June reached A$250.8-million, while statutory net profit after tax also... 

Interroll makes modular conveyor platform for logistics

17th August 2018 Materials handling specialist Interroll has created its modular conveyor platform (MCP), with decentrally controlled RollerDrive drive technology, fit for use in environments as cold as -30 °C. Deep-freeze logistics can now benefit from an efficient, zero-pressure-accumulation material flow. The... 

55 Mℓ/d treatment plant completed

17th August 2018 Global optimised resource management company Veolia Water Technologies South Africa recently handed over the 55 Mℓ/d potable water treatment plant to State-owned water utility Umgeni Water in the iLembe district municipality in KwaZulu-Natal. The project was part of the Lower Thukela Bulk Water... 

MTN conference showcases IoT excellence

By: Natasha Odendaal     17th August 2018 Telecommunications giant MTN’s 2018 Business Internet of Things (IoT) conference and awards showcased the “next generation of IoT trailblazers” as several companies walked away with honours for their innovations in the IoT space. Mine RP and FlowCentric scooped the 2018 MTN Business IoT Solution... 

Our innovations are the key partnership to your future

By: Yolande Botes     17th August 2018 “The EIE Group is known for its innovative state-of-the-art machinery and associated technologies on their automated and semi-automated solutions. Similarly, our reputation for applying solutions that ensure that our customer’s operations are fully optimised and fully supported through our... 

Gold Fields remains in ‘strong’ financial position, despite $367m loss, says Holland

By: Simone Liedtke     16th August 2018 Despite attributable losses from continuing operations for the six-month period ended June 30, of $367-million or $0.45 a share, CEO Nick Holland maintains that the NYSE- and JSE-listed Gold Fields remains in a strong financial position. Holland further noted on Thursday that the integrity of the... 

Anglo Pacific makes $50m investment in Labrador Iron Ore Royalty

By: Mariaan Webb     16th August 2018 LSE- and TSX-listed Anglo Pacific on Thursday announced that it had acquired a 4.25% shareholding in Labrador Iron Ore Royalty (LIORC) for $50-million, an investment that the company said should be immediately value accretive. LIORC, which is listed on the TSX and has a market capitalisation of... 

Iluka's H1 earnings surge

By: Esmarie Swanepoel     16th August 2018 Mineral sands miner Iluka has reported an 80% increase in the underlying group earnings before interest, tax, depreciation and amortization (EBITDA) for the half-year to June. Underlying EBITDA reached A$278.5-million in the interim period, compared with the A$154.6-million in the previous... 

Hawks investigate cases related to Gupta-loot worth more than R40bn

By: News24Wire      16th August 2018 The Hawks are investigating cases related to the Guptas' state capture project that involves more than R40 billion which has been plundered from state coffers. Lieutenant General Godfrey Lebeya presented the Hawks' progress in several cases of state capture to the Portfolio Committee on Police on... 

Weba Chute Systems Urges Consideration Of Basic Chute Specifications To Address Material Transfer Problems

16th August 2018 Material transfer problems can be addressed easily by considering basic chute specifications, but this necessitates a thorough knowledge of transfer point design as well as the ability to determine best practice for a specific application. Mark Baller, managing director of Weba Chute Systems,... 

Call for three-year renewal of Canada’s exploration tax scheme to arrest signs of decline

By: Mariaan Webb     15th August 2018 The Mineral Exploration Tax Credit (METC), which incentivises exploration financing by providing individuals investing in companies exploring for minerals in Canada with a 15% tax credit on eligible expenditures, has to be renewed for at least three years to provide greater certainty and boost... 

Aury Africa introduces RFID track-and-trace solution for mining

15th August 2018 Screening and vibrating equipment solutions and services provider Aury Africa has introduced a radio-frequency identification (RFID) audit and inspection solution that is ideal for mining applications. These include inspecting plant equipment, mining machines, pumps, valves and pipes – in fact,... 

Leagold updates FY guidance after Brio Gold buy

By: Creamer Media Reporter      15th August 2018 Midtier gold miner Leagold has updated its production guidance to reflect the recent completion of its Brio Gold acquisition, which added three mines in Brazil to its portfolio. The company said this week that it expects to produce between 325 000 oz and 350 000 oz of gold at an all-in sustaining... 

Roxgold says 2018 output may be at upper-end of guidance

By: Anine Kilian     15th August 2018 Burkina Faso-focused Roxgold has delivered strong second-quarter production and cash flow results, standing the company in good stead to achieve the upper end of its 2018 production guidance. For the three months to June 30, TSX-listed Roxgold achieved gold production of 35 828 oz of gold,... 

Wheaton Precious Metals lifts second-quarter earnings

By: Creamer Media Reporter      15th August 2018 The world’s largest precious metals streaming firm Wheaton Precious Metals has reported a 9% increase in adjusted net earnings and an 8% increase in cash flow from operations during the second quarter, on higher revenue as a result of more gold ounces being sold at a higher average price.... 

Woodside posts A$541m half-year profit

By: Esmarie Swanepoel     15th August 2018 Oil and gas producer Woodside has reported an interim net profit after tax of A$541-million for the six months to June, with operating cash flows for the period up by 25% on the first half of 2017. Woodside said on Wednesday that the increased operating cash flows was driven by higher production... 

Stornoway posts Q2 loss; Renard ramp-up slower than planned

By: Mariaan Webb     15th August 2018 The share price of Quebec diamond miner Stornoway Diamonds took a beating on Tuesday, after the company unveiled a net loss of C$35.9-million for the second quarter and said that the ramp-up of its underground mine at Renard was slower than planned. Stornoway’s share price dipped to a 12-month... 

Gold Mountain boosts its exploration efforts in PNG

By: Esmarie Swanepoel     14th August 2018 ASX-listed Gold Mountain has completed the assembly and commissioning of a large-capacity mobile plant to process coarse gold and platinum bulk samples. Gold Mountain holds a number of exploration tenements in Papua New Guinea, with its flagship Crown Ridge project in the final stage assessment... 

Minister decries Gold Fields’ job-cut plan at cash-burning South Deep

By: Martin Creamer     14th August 2018 They say South Deep will be the last gold mine standing, but every report coming out of it indicates that it is an extremely hard nut to crack, with production hopelessly below guidance. Since 2006, Gold Fields has pumped R32-billion into South Deep without even breaking even, let alone making a... 

Nornickel earnings jump on higher metal prices, operational efficiencies

By: Simone Liedtke     13th August 2018 Nickel and palladium producer Norilsk Nickel (Nornickel) reported a 77% year-on-year increase to $3.1-billion in earnings before interest, taxes, depreciation and amortisation (Ebitda) in the first half of 2018, driven by higher metal revenue and operational efficiency gains. The Ebitda margin... 

Final stage of Cononish permitting taking longer than planned – Scotgold

By: Mariaan Webb     13th August 2018 The permitting process for the gold and silver mine that Scotgold is seeking to develop near the Loch Lomond and Trossachs National Park, in Scotland, is taking longer than planned, Aim-listed Scotgold reported on Monday. The company said that all substantive matters relating to the issuing of... 

Esor’s share price plummets as major subsidiary files for business rescue

By: Simone Liedtke     13th August 2018 JSE-listed Esor’s share price plummeted on Monday by 62.5% as the company announced the start of business rescue proceedings for its Esor Construction subsidiary, which holds the group’s infrastructure, building and housing, pipelines, sanitation and pipe services businesses. The decision follows... 

Premier African Minerals’ RHA tungsten mine almost back to production

By: Marleny Arnoldi     13th August 2018 Aim-listed Premier African Minerals is fast progressing towards bringing its RHA tungsten mine, in Zimbabwe, back into production in the coming weeks. Operations were halted towards the end of last year amid cash flow constraints.  

Champion Iron posts a profit during Bloom Lake ramp-up

By: Mariaan Webb     13th August 2018 TSX- and ASX-listed Champion Iron has reported net income of C$20.7-million for the June quarter, which chairperson CEO Michael O’Keeffe on Monday hailed as a major achievement, considering that the Bloom Lake iron-ore mine was in the ramp-up phase during the three months under review. Bloom... 

Minnovare and Northern Star Resources Announce New ‘Technology Collaboration’.

13th August 2018 Minnovare’s ongoing collaboration with industry leading gold miner Northern Star Resources, has led to the announcement of an official ‘Technology Collaboration’ that sees the development and implementation of Minnovare technology across Northern Star’s operations in Western Australia. The... 

Lucara recovers 253 special diamonds at Karowe in Q2

By: Simone Liedtke     10th August 2018 TSX-listed Lucara Diamonds’ Karowe mine, in Botswana, delivered 253 diamonds larger than 10.8 ct during the second quarter, ended June 30, representing 10.5% of the total recovered carats. This is also the highest number of specials recovered, by quarter, since production started at Karowe. 

Strong sales growth lifts Silvercorp earnings

By: Nadine James     10th August 2018 In its financial and operating results for the first quarter ended June 30, Canada-based, China-focused Silvercorp Metals on Thursday reported a net income of $10.9-million and a 25% increase in cash flow on the back of a 14% increase in sales. The company achieved sales of $45.1-million, up... 

Caledonia achieves marginal increase in Q2 output

By: Anine Kilian     10th August 2018 Caledonia Mining’s 49%-owned Blanket mine, in Zimbabwe, produced 12 657 oz of gold in the second quarter ended June 30, marginally higher than that produced in the second quarter of 2017 and in line with expectations.  “The second quarter was a difficult quarter for the business as production was... 

Difficult conditions in ferro-alloys segment impacts on Afarak’s H1 profitability

By: Simone Liedtke     10th August 2018 The second quarter of 2018, ended June 30, was particularly difficult for specialty alloys producer Afarak, the company said on Friday, with the ferro-alloys segment having shown a bad performance which negatively impacted on the group’s overall financial results. This, Afarak pointed out, was... 

Consolidated Zinc moves forward Mexico mine plans to this year

By: Esmarie Swanepoel     10th August 2018 ASX-listed Consolidated Zinc has flagged the start of production from its Plomosas zinc/lead/silver mine, in Mexico, before the end of 2018. The company had initially targeted a large production facility to start in 2019/20; however, Consolidated Zinc said on Friday said that the results from... 

Western Cape transport department says begins R29m roadworks

By: African News Agency      10th August 2018 The Western Cape province's department of transport and public works (DTPW) said on Friday it had started periodic maintenance on the R341 road between De Rust and Uniondale, and that the R29 million project was expected to be complete by March. The road, last refurbished in 1995, provides access... 

Barrick says China partner for copper 'makes all kinds of sense'

By: Bloomberg     10th August 2018 Barrick Gold executive chairman John Thornton says the Canadian miner is looking at its copper assets “very seriously” to see if it makes sense to form a copper company with one or two partners, most likely from China. “The question for us on copper is, ‘Can you take the copper assets, combine... 

Fibre optics punted for pipeline monitoring amid major spills in mining and other sectors

By: Nadine James     10th August 2018 Fibre optics were invented to carry huge amounts of voice data over long distances very efficiently, but advancements in optical technology have enabled the use of specialised fibre optic cables as sensors with the ability to measure parameters such as acoustic energy, temperature, strain, and... 

W Cape focusing on creating certainty in agriculture sector

By: Erin Steenhoff-Snethlage     10th August 2018 The Western Cape provincial government is focusing on creating certainty for the agriculture industry by trying to ensure that farmers can continue farming and save jobs by requesting an increase in the water allocation to the industry from the Department of Water and Sanitation (DWS), says... 

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