Mining News

DRDGold Q1 output rises as Ergo glitches resolved

Tailings gold miner DRDGold appears to have turned a corner, lifting gold output by 8% to 37 005 oz in the first quarter of the 2015 financial year. This after the gold producer experienced several successive quarters in which it battled inefficiencies, low yields and high costs associated with the initial start-up of the flotation/fine-grid (FFG) circuit at its Ergo recovery plant, on Gauteng’s East Rand.
(Fri, 24 Oct 2014 15:51:00 +0200)

Aquarius posts Q1 profit on back of higher production, lower costs

Platinum miner Aquarius Platinum on Friday reported a net profit of $5.21-million for the three months ended September 30 compared with a loss of $10.19-million during the prior corresponding period. This increase was driven by a 3% rise in production, 5% higher dollar prices, lower costs and rand depreciation. During the quarter under review, the company’s attributable production from its operating mines increased by 3% quarter-on-quarter and 4% year-on-year to 86 855 oz.
(Fri, 24 Oct 2014 10:57:00 +0200)

BHP sets sights on another $3.5bn in yearly productivity gains

Mining giant BHP Billiton said on Friday that it was targeting further productivity gains, with the company operating more like an advanced manufacturer than a traditional resource company. “By the end of the 2017 financial year, we are targeting at least $3.5-billion of additional annualised productivity gains beyond those already reported,” CEO Andrew Mackenzie told shareholders at a meeting in London.
(Fri, 24 Oct 2014 07:53:00 +0200)

DRA awarded first phase of Exxaro’s Belfast coal implementation project

Engineering and project delivery company DRA has been awarded the $4.5-million first phase contract of JSE-listed Exxaro Resources subsidiary Exxaro Coal’s Belfast implementation project, in Mpumalanga. The first phase of the project would include the detailed design and engineering of a 500 t/h coal processing project, including a two-stage dense medium beneficiation plant, a fine coal dense medium section for fines treatment, a system for the filtration of slimes, as well as associated product handling systems.
(Fri, 24 Oct 2014 11:51:00 +0200)

Petra sells 232 ct diamond for $15m

The 232.08 ct white diamond recovered at London-listed Petra Diamonds’ Cullinan mine has been sold for $15.2-million to multinational diamond company Diacore. The exceptional D colour Type II high-quality diamond was recovered early in September.
(Fri, 24 Oct 2014 15:23:00 +0200)

Russia kicks off South Africa’s ‘nuclear vendor parade’

The Department of Energy (DoE) reported on Thursday night that it had concluded its first “nuclear vendor parade workshop” with a delegation from the Russian Federation and that further meetings were planned with vendor countries such as France, China, South Korea, the US and Japan. The workshop, which was reportedly held at a resort in the Drakensberg, included a “large contingent”, around 50 people, comprising senior officials from the South African government, State-owned entities and academia.
(Fri, 24 Oct 2014 10:50:00 +0200)

South African police fire rubber bullets at Diamondcorp strikers

South African police used rubber bullets on Friday to disperse strikers from the Association of Mineworkers and Construction Union (AMCU) who were blocking the entrance to a mine operated by London-listed DiamondCorp, a police spokesperson said. Police spokesperson Stephen Thakeng told Reuters that four of the striking workers were injured and 16 were arrested for public violence in the latest flare-up of labour unrest in South Africa's mining sector.
(Fri, 24 Oct 2014 14:19:00 +0200)

South Africa platinum town, wider economy still hurting from strike

Mamsi Ngobeni sat alongside the main road of the South African platinum belt town of Marikana, hunched over a table with a pile of onions, apples, loose cigarettes and tomatoes. By just after noon she had sold about R20 ($1.8245) worth of goods, well down from what she said was her usual R1 000 take before a five-month strike against the world's top platinum producers drained this gritty town of cash.
(Fri, 24 Oct 2014 14:06:00 +0200)

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