Anglo American’s strong Q1 output growth blighted only by platinum woes
Global mining major Anglo American saw an across-the-board swell in production across its minerals portfolio for the first three months of the year, marred only by a hefty drop in output from its platinum business, which continues to confront persistent industrial action across its South African operations. Platinum equivalent refined production decreased by 39% to 357 000 oz as a result of strikes at the Rustenburg, Amandelbult and Union mines.
(Thu, 24 Apr 2014 10:57:00 +0200)
No finality on Eskom ‘support’, but DPE confirms immediate R25bn shortfall
Department of Public Enterprises (DPE) director-general Tshediso Matona confirms that the interdepartmental task team established to find a solution to Eskom’s financial problems has agreed that further support will be required. However, he says it is premature to place a monetary value to that possible support, or divulge details of the other elements of a possible long-term package.
Matona chairs the interdepartmental task team made up of officials from the DPE, the National Treasury, the Department of Energy and Eskom. He spoke with Engineering News Online following remarks by Eskom finance director Tsholofelo Molefe in Business Day indicating that the State-owned utility might require a R50-billion equity injection along with further upward tariff adjustments to safeguard its sustainability.
(Thu, 24 Apr 2014 11:40:00 +0200)
ABG delivers higher Q1 gold output, lower gold price drags revenue, Ebitda
JOHANNESBURG (miningweekly.com) – London-listed gold producer African Barrick Gold (ABG) says it has started the new financial year stronger, with the first quarter of 2014 delivering higher production and lower all-in sustaining costs. The Tanzania-focused group on Thursday reported gold output of 168 375 oz during the quarter under review – an 18% rise on the first quarter of 2013.
(Thu, 24 Apr 2014 09:43:00 +0200)
Platinum strike slashes Amplats Q1 output by 39%
Beleagured platinum miner Anglo American Platinum (Amplats) has posted an unsurprising narrowing of production for the first quarter ended March 31, as a strike that has forced the temporary closure of several of its mines enters its third month. The South African producer’s total equivalent refined platinum production decreased by 39% to 357 000 oz for the three months, falling from 583 000 oz in the first quarter of 2013.
(Thu, 24 Apr 2014 09:57:00 +0200)
Sibanye ups Q1 gold output 11%, awaits ruling on strike
Johannesburg- and New York-listed Sibanye Gold has improved its year-on-year production of gold, lifting output by 11% to 332 400 oz for the quarter ended March 31 as the company’s Driefontein, Kloof and Beatrix mines strengthened production over the three months. Gold production from the Driefontein mine, in Gauteng, increased by 3% on the comparable March 2013 quarter to 130 900 oz, but was 19% lower than that of the December 2013 quarter.
(Thu, 24 Apr 2014 11:55:00 +0200)
Platinum wage talks continue
Talks to end the protracted wage strike in the platinum sector will continue behind closed doors at an undisclosed location in Johannesburg on Thursday, the Chamber of Mines said. Anglo American Platinum (Amplats), Impala Platinum (Implats) and Lonmin representatives will meet with Association of Mineworkers and Construction Union (AMCU)on Thursday, said spokeswoman Charmane Russell.
(Thu, 24 Apr 2014 08:23:00 +0200)
Kumba lifts Q1 iron-ore output 10%
Kumba Iron Ore has boosted production for the first three months of the year by 10% to 11.3-million tonnes, as the Anglo American subsidiary reported continued strong performances from its Sishen and Kolomela mines, in the Northern Cape. Similarly, domestic sales volumes for the quarter ended March 31 increased by 60% compared with the first three months of last year, and by 8% compared with the previous quarter to 1.4-million tonnes, owing to increased offtake by steel manufacturer ArcelorMittal South Africa.
(Thu, 24 Apr 2014 11:09:00 +0200)
R17.5m Anglo project to improve, accelerate mine rehabilitation
Diversified miner Anglo American’s thermal coal business, Anglo Thermal Coal, has developed and patented a bioconversion technology that it believes could significantly reduce the cost and improve the rate and quality of opencast mine rehabilitation.
(Wed, 23 Apr 2014 16:47:00 +0200)
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