Mining News

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September 30. The London- and Johannesburg-listed Anglo, headed by CEO Mark Cutifani, said production for Eskom was down to eight-million tons owing to municipal protest action temporarily impacting production at its Kriel colliery and a longwall move at its New Denmark colliery.
(Thu, 23 Oct 2014 12:17:00 +0200)

South Africa's main coal terminal stops releasing export data

South Africa's Richards Bay Coal Terminal (RBCT), the largest in the world, has stopped publishing monthly operational updates detailing shipments of coal because it is "competitive information", its chief executive said on Thursday. "This information is commercial, it's a competitive environment. RBCT has decided not to release it anymore," Nosipho Siwisa-Damasane told Reuters.
(Thu, 23 Oct 2014 10:41:00 +0200)

Amplats lifts FY output guidance on lower Q3 post-strike ramp-up losses

The post-strike ramp-up in production at Anglo American Platinum’s (Amplats’) Rustenburg, Union and Amandelbult mines was completed a month ahead of schedule, with normal output having resumed by September. In its third-quarter production report, released on Thursday, the platinum miner noted that ramp-up losses for the three months ended September 30, amounted to 92 000 oz.
(Thu, 23 Oct 2014 09:13:00 +0200)

Kumba Q3 output up 37% y/y

Kumba Iron Ore lifted its output by 37% year-on-year and 13% quarter-on-quarter to 13-million tonnes in the quarter ended September 30. The Sishen mine produced 9.3-million tonnes of iron-ore in the quarter – up 44% on that produced in the third quarter of 2013 and 11% higher than that produced in the quarter ended June 30.
(Thu, 23 Oct 2014 10:38:00 +0200)

Rio extends Walsh's contract

The CEO of mining giant Rio Tinto, Sam Walsh, would remain at the company’s helm for the foreseeable future after the company’s board extended his tenure. Rio CFO Chris Lynch also had his tenure extended.
(Thu, 23 Oct 2014 09:10:00 +0200)

Lucara’s exceptional diamond tenders rake in $136m in 2014

Southern Africa-focused miner Lucara Diamond Corp this week reported that exceptional stone tenders had this year accounted for $136-million, reflecting a strong diamond market and robust demand for large precious gems from the company’s flagship Karowe mine, in Botswana. The TSX- and Botswana-listed company this week held its third exceptional stone tender where it sold 14 diamonds for gross revenues of $46.4-million, or $30 129/ct.
(Wed, 22 Oct 2014 19:48:00 +0200)

Cape Lambert granted mining licence at Marampa

ASX-listed Cape Lambert on Thursday announced that it had been granted a mining licence for its own Marampa iron-ore project, in Sierra Leone. “I am delighted that the Ministry of Mineral Resources has finally approved the grant of Marampa’s mining licence so that we can get on with the process of negotiating the mine lease agreement, which will provide another level of confidence for potential investors or acquirers of the project,” said executive chairperson Tony Sage.
(Thu, 23 Oct 2014 09:23:00 +0200)

Randgold CEO warns against tax hike in new Congo mining code

The Democratic Republic of Congo’s (DRC's) focus on maximising short-term tax revenues risks squandering long-term mining prospects, the chief executive of one of its largest mining investors warned on Wednesday. Speaking at a mining conference in Kinshasa, Mark Bristow, the CEO of gold miner Randgold Resources Ltd, criticised Congo's Prime Minister Augustin Matata Ponyo for seeking quick tax revenue gains at the expense of the sustainable growth.
(Thu, 23 Oct 2014 08:13:00 +0200)

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