Mining News

Three unions sign wage deal with two gold producers

Trade unions, the National Union of Mineworkers (NUM), Solidarity and Uasa on Friday accepted the latest gold wage offer tabled by gold producers AngloGold Ashanti and Harmony Gold. However, the Association of Mineworkers and Construction Union (AMCU) had rejected the three-year agreement, effective July 2015 to June 2018, and been granted certificates of nonresolution by the Commission for Conciliation, Mediation and Arbitration over a dispute with AngloGold, Harmony and Sibanye.
(Fri, 02 Oct 2015 17:04:00 +0200)

Black-controlled Fraser Alexander wins Glencore coal discard contracts

Black-controlled mining services company Fraser Alexander has won the Glencore group discard and handling services contracts for Tweefontein Boschmans, Impunzi Atcom, Impunzi ATC and Koornfontein coal mines. The Royal Bafokeng Holdings-owned Fraser Alexander said in a release that the size of the operation enabled the company, headed by CEO Velile Nhlapo, to share resources and employ its in-house designed discard hauler and loader fleets, which made it possible to be highly cost competitive.
(Fri, 02 Oct 2015 11:04:00 +0200)

SA's biggest mining union says to strike in coal sector Sunday

The National Union of Mineworkers (NUM) will strike in the crucial coal industry from Sunday after wage talks collapsed earlier this week in a country that relies heavily on coal for electricity. Africa's most advanced economy, beset by power shortages, relies on coal for its electricity and is also a major exporter to Europe and Asia.
(Fri, 02 Oct 2015 15:54:00 +0200)

Solidarity submits R10.7m claim against Sishen Iron Ore

Trade union Solidarity has referred a case on behalf of 97 of its members employed by Sishen Iron Ore to the Labour Court, claiming that the members did not receive their full performance evaluation bonuses, to which they had been entitled, for two years. The union’s total claim amounted to R10.7-million.
(Fri, 02 Oct 2015 15:14:00 +0200)

Paragon secures $15m for Mothae, Lemphane development

Aim-listed Paragon Diamonds has signed a nonbinding term sheet to secure a $15-million funding package with private South Africa-based company Acrux Resources. The funds would be used to acquire and bring the defined Lesotho-based Mothae kimberlite resource and the nearby Lemphane kimberlite pipe project into first production of potentially large high-value diamonds.
(Fri, 02 Oct 2015 11:53:00 +0200)

Zimbabwe gold mines seek cuts in power tariff, royalties

Zimbabwe's gold producers have asked President Robert Mugabe's government to cut royalties and electricity tariffs by half to prevent the collapse of mines struggling with low bullion prices, a group representing major mines said. Gold is Zimbabwe's third-largest export earner after tobacco and platinum and the sector is still trying to emerge from a deep recession between 1999-2008, during which output fell to just 3.8 tonnes, its lowest since independence in 1980, and many mines were forced to suspend operations.
(Fri, 02 Oct 2015 14:10:00 +0200)

Vedanta's Zambian unit sends more workers on forced leave

Vedanta Resources' Zambian unit, Konkola Copper Mines, will send an additional 148 workers on forced leave, it said on Friday, citing weak copper prices and power shortages. The workers were asked to stay away from work on full pay but without allowances. Earlier this month, the firm asked 133 employees to stay away from work as it reviewed its operations.
(Fri, 02 Oct 2015 12:57:00 +0200)

Glencore board member Macaulay buys $2.3m worth of shares

Glencore board member William Macaulay has bought more than $2.3-million worth of stock, it said on Friday, joining fellow board members backing the company whose share price has lost around 70% over the past year. Former chief executive of Wall Street bank Morgan Stanley John Mack bought $600 000 worth of stock, data showed on Thursday, following a similar move by former BP head Tony Hayward.
(Fri, 02 Oct 2015 14:12:00 +0200)

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