R/€ = 13.69 Change: -0.06
R/$ = 12.94 Change: -0.07
Au 1256.50 $/oz Change: 7.25
Pt 1028.20 $/oz Change: 20.20


AMSA unveils interim steel rail hub

By: Natasha Odendaal     Updated 3 hours ago The official unveiling of the Isando Distribution Centre, in Germiston, on Friday, marked the next step in steel producer ArcelorMittal South Africa’s (AMSA’s) long-term initiative to migrate the bulk of domestic final product steel distribution from road to rail. Dedicated rail links between... 

Bushveld signs BEE deal to complement Vametco acquisition

By: Megan van Wyngaardt     Updated 4 hours ago Aim-listed Bushveld Minerals has agreed to facilitate a change in the ownership of one of Evraz Vametco's black economic empowerment (BEE) partners. Bushveld will support Jaxson 640's acquisition of a controlling interest in the BEE shareholdings in Vametco, which will take place alongside its... 

Kibo, Metal Tiger call it quits on JV projects

By: Megan van Wyngaardt     Updated 4 hours ago Dual-listed Kibo Mining has terminated joint venture (JV) activities with Metal Tiger at the Pinewood and Morogoro mines, in Tanzania. The companies will also relinquish the mine licences back to the local authorities. 

Endeavour lifts Karma mine’s reserves

By: Megan van Wyngaardt     Updated 4 hours ago An infill drill programme Endeavour Mining’s North Kao deposit, located at the Karma gold mine in Burkina Faso, has confirmed the continuity of the previous inferred resource, resulting in a maiden indicated resource of 314 000 oz amenable to heap leaching and a subsequent conversion of 262 000... 

Bauba exceeds first production target at Moeijelijk after restarting activities

By: Megan van Wyngaardt     Updated 4 hours ago At end-January, JSE-listed Bauba Platinum had exceeded its production target of 12 000 t of run-of-mine (RoM) ore at its Moeijelijk mine, after having resumed mining activities earlier that month. The mine was placed on care and maintenance in January 2016 as a result of low prices, but mining... 

Tax administration developments ‘deeply disturbing’, Davis warns

By: Terence Creamer     Updated 6 hours ago Judge Dennis Davis, who heads Davis Tax Committee, set up in 2013 to assess South Africa’s tax policy framework, has added his voice to concerns about the state of tax administration in South Africa, particularly in light of the R30-billion under-recovery in 2016/17 relative to the estimate... 

Northam narrows H1 loss, lifts operating profit

By: Anine Kilian     24th February 2017 JSE-listed Northam Platinum has narrowed its loss to R226.6-million for the six months to December 31, compared with a loss of R273-million in the six months to December 31, 2015. Revenue rose 7.9% year-on-year to R3.5-billion, owing to a 19.1% increase in the revenue per platinum ounce sold and... 

Northam buys Glencore’s Eland mine for R175m; secures chrome marketing agreement

By: Anine Kilian     24th February 2017 JSE-listed Northam Platinum has acquired the Eland platinum mine from Glencore Operations South Africa for R175-million.  It has also concluded an exclusive chrome marketing agreement with Glencore International, which will market and sell chrome produced at Northam’s Zondereinde and Booysendal... 

Johannesburg’s City Power MD takes leave pending investigation

By: African News Agency      24th February 2017 Sicelo Xulu, the MD of City Power, has taken leave to allow for the completion of a forensic investigation into fraud and corruption. The announcement was made on Thursday in a statement issued by City Power, the Johannesburg municipal entity that supplies Johannesburg with electricity. 

Fatality figures falling each year as South African mining sector targets 'zero harm'

By: Dylan Slater     24th February 2017 As the yearly recorded number of mining injuries and fatalities in South Africa continues to decrease, albeit at a slower pace in 2016 than in previous years, the focus of the industry shifts once again to renewed efforts to bring the number of fatalities to zero. However, as the Department of... 

Sanral CEO looks to regain South Africa’s trust despite ongoing e-toll tussle 

By: Irma Venter     24th February 2017 Not too long ago, the South African National Roads Agency Limited (Sanral) was a firm darling among its peers. It was a well-funded State-owned enterprise (SOE) almost never under fire, seldom in retreat, grinding ever onward in its task to manage and expand the country’s road network. Then came... 

Cummins to grow its Southern African presence as it celebrates 70-years

By: Schalk Burger     24th February 2017 Power and engine multinational Cummins aims to grow its presence in its Southern  African operations, including Botswana, Zimbabwe, Zambia and Mozambique, says Cummins Southern Africa MD Thierry Pimi. The key industries for Cummins in the region are the mining, power generation and automotive... 

Good increases in passenger numbers at Acsa’s airports last year

By: Keith Campbell     24th February 2017 The Airports Company South Africa (Acsa) had a record year last year, in terms of the numbers of passengers who passed through its airports. This was revealed when it published its latest “Aviation Barometer” report. This is the fourth edition of the report, which is compiled from official Acsa... 

New cleaning solution launched into Southern African markets

By: David Oliveira     24th February 2017 Goscor Cleaning Equipment (GCE) launched its latest cleaning equipment solution – the GM1ze zero-emission refuse picker from German environment-friendly cleaning equipment manufacturer Green Machines International – at its Johannesburg facilities earlier this month. GCE MD Greg Venter noted... 

New VSDs in high demand

By: Sascha Solomons     24th February 2017 Following the launch of its Movitrac LTP B HVAC, or heating ventilation and air-conditioning, variable-speed drives (VSDs) last year, automation manufacturer SEW-Eurodrive says the demand from the HVAC industry has been high. 

Sanral CEO looks to regain South Africa’s trust despite ongoing e-toll tussle

By: Irma Venter     24th February 2017 Not too long ago the South African National Roads Agency Limited (Sanral) was a firm darling among its peers. It was a well-funded State-owned enterprise (SOE) almost never under fire, seldom in retreat, grinding ever onward in its task to manage and expand the country’s road network. Then came... 

Analysts acclaim Glencore’s performance as good fundamentals return

By: Martin Creamer     23rd February 2017 Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and... 

Electricity-mix model shows South Africa won’t need to trade off clean for low-cost 

By: Terence Creamer     23rd February 2017 The steep decline in wind and solar photovoltaic (PV) costs means that South Africa will not need to make the traditional trade-off between investing in either clean or least-cost electricity production, as the “cost-optimal mix” for South Africa is now also the cleanest, research conducted by... 

Hefty H1 losses paint depressed picture for Implats 

By: Ilan Solomons     23rd February 2017 Platinum miner Impala Platinum (Implats) has recorded a gross loss of R318-million for the six months to December 31, a significant increase on the loss of R40-million recorded in the six months to December 31, 2015. The group posted a headline loss of R508-million, compared with headline... 

Stellar raises funds for working capital, to conclude Octea deal

By: Megan van Wyngaardt     23rd February 2017 Stellar Diamonds has raised £324 500 through the issue of 5.9-million new ordinary shares, at an issue price of 5.5p apiece. The miner noted that it had to scale back the placing to not exceed the company’s existing share authorities. 

CRG production impacted by summer rains

By: Megan van Wyngaardt     23rd February 2017 Ongoing adverse weather conditions that have negatively affected JSE-listed Central Rand Gold’s (CRG’s) cash flow as a result of production downtime, have prompted the miner to introduce programmes and plans to address the issues. This includes the openpit mining and processing of CRG’s own... 

Resources Watch  

     23rd February 2017 Gold Fields set for ‘year of reinvestment’, announces R2.28bn South Deep growth plan; DRDGold spends R26m in six months on environmental restoration; And, Kumba applying exploration-to-beneficiation technology 

Amplats launches new Chrome Recovery Plant 

     23rd February 2017 Anglo American Platinum launched its newly commissioned chrome recovery plant earlier in January at its Thabazimbi-based Amandelbult complex in Limpopo.  

Frankfurt Airport aims to increase its business with South Africa

By: Keith Campbell     23rd February 2017 Germany’s number one international airport, Frankfurt, is seeking to increase its two-way air cargo trade with South Africa. This was highlighted at a media briefing at the 2017 Air Cargo Africa conference in Kempton Park, east of Johannesburg, by Fraport AG chief operating officer Anke Giesen.... 

Hummingbird appoints GM for Yanfolila

By: Megan van Wyngaardt     23rd February 2017 Aim-listed Hummingbird Resources has appointed Kevin Moxham GM of its Yanfolila gold project, in Mali. An engineer by profession, Moxham has over 30 years’ experience in the effective management and commissioning of mining projects in jurisdictions including Ghana, Eritrea, Tanzania and South... 

Petmin highlights delays in accessing new mining areas at Somkhele

By: Anine Kilian     23rd February 2017 JSE-listed Petmin’s normalised earnings decreased by 43% to 8.49c a share for the six months to December 31. The company attributed the lower earnings to lower average selling prices for anthracite exports and 12% higher operating costs as a result of delayed access to new mining areas at its... 

Budget’s withholding tax rise may alter Sibanye’s dividend stance

By: Martin Creamer     23rd February 2017 The change in the withholding tax position introduced in Wednesday's Budget may result in precious metals mining company Sibanye changing its stance on dividends. Up to now, Sibanye’s first call on free cash after stay-in-business capital expenditure has been to pay dividends amounting to at... 

Edenville secures wash plant, crusher for Rukwa

By: Natasha Odendaal     23rd February 2017 Aim-listed Edenville Energy is embarking on the next phase of development at its Rukwa coal project, in western Tanzania, as it acquires a coal washing plant and crusher and appoints a wash plant engineer. The start of the process to ship and assemble the wash plant, in anticipation of starting... 

Mondi's 2016 profit rises, company see challenges ahead

By: Reuters     23rd February 2017 South African paper and packaging company Mondi's 2016 underlying profit rose, helped by good performance in all its businesses despite pricing pressure in a number of key paper grades. Mondi, which is also listed in London, said underlying operating profit rose 3% to €981-million ($1-billion)in... 

Trans Hex sees strong sales, production from local operations

By: Megan van Wyngaardt     23rd February 2017 Improved market conditions have resulted in diamond mining company Trans Hex posting improved sales of R201.1-million from the group’s October 2016, December 2016 and February tender sales of diamonds recovered at its South African operations. Some 16 447 ct of diamonds were sold at the tenders... 

Sibanye reports record operating profit, soaring earnings, good dividend

By: Martin Creamer     23rd February 2017 Precious metals mining company Sibanye on Thursday reported record operating profit of R10.5-billion for the six months and year ended December 31, 2016, a 60% increase on the previous year. Group operating profit of R5.1-billion for the second half of 2016 was 29% higher than for the comparable... 

Chamber notes Gordhan’s bemoaning of Section 54 stoppages 

By: Martin Creamer     22nd February 2017 The Chamber of Mines of South Africa has described Finance Minister Pravin Gordhan as having done an effective job of maintaining fiscal discipline with a budget deficit of 3.1% in these most trying of times. The chamber comments that the 2017/18 Budget demonstrates the truism that sustaining and... 

Pan African CEO accuses union of ‘blatantly false’ safety statements 

By: Martin Creamer     22nd February 2017 The CEO of the London Aim- and Johannesburg-listed precious metals and coal mining company Pan African Resources on Wednesday accused the National Union of Mineworkers (NUM) of making statements that were “blatantly false” on safety practice at the Evander gold mine in Mpumalanga. “I will not say... 

Group Five reports R383m loss, CEO Eric Vemer resigns

By: Irma Venter     22nd February 2017 Group Five CEO Eric Vemer has unexpectedly announced his resignation – “within the next few weeks” – from the JSE-listed construction group. Vemer took over from Mike Upton on December 1, 2014, and spent less than three years at the helm of Group Five. 

Pan African ups earnings, pays record dividend

By: Martin Creamer     22nd February 2017 Precious metals and coal producer Pan African Resources on Wednesday announced higher earnings and revenues, and a record dividend pay-out of R300-million, despite lower gold production in the six months to December 31. Earnings per share increased by 33.4% to 16.58c a share and the board... 

$1bn earmarked for AngloGold’s deep-but-cheap Mponeng mine

By: Martin Creamer     21st February 2017 A big capital investment is on the cards for AngloGold Ashanti’s Mponeng gold mine, the world’s deepest underground operation. The former Western Deep Levels Number One operation was on the receiving end of a surfeit of comment when AngloGold Ashanti presented cash-rich results on Tuesday.  

Bacanora buys 50% stake in German lithium project

By: Anine Kilian     21st February 2017 Aim- and TSX-V-listed Bacanora will acquire a 50% stake in the Zinnwald lithium project, in Germany, from European solar panel producer SolarWorld for €5-million, plus an undertaking to invest a further €5-million on a feasibility study (FS). The FS is expected to take 18 to 24 months to complete. 

Restructured Imperial continues disposal spree

By: Irma Venter     21st February 2017 A new-look, restructured Imperial Holdings has, since 2015, disposed of, or is busy disposing of, 42 businesses with a total revenue of R11.9-billion and operating profit of R937-million. These disposals include Regent Insurance’s non-South African operations, as well as Jurgens Caravans and... 

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