Anglo’s coal productivity in South Africa 50% below Australia – Cutifani
Productivity in Anglo American’s coal business in South Africa is 50% below that of Anglo’s coal business in Australia.
As a result, Anglo American CEO Mark Cutifani is pulling out all the stops to improve the South African coal business’ productivity – but constraints include the fewer days worked and different South African roster, along with South Africa’s logistical limitations and the use of continuous miners rather than longwall mining equipment.
(Tue, 29 Jul 2014 10:47:00 +0200)
Transnet CEO Molefe raises alarm on softening coal price
Transnet CEO Brian Molefe on Tuesday raised the alarm over the ever-declining coal price. The company planned to undertake a study on the impact of the lower coal price and said it would make an announcement in due course.
(Tue, 29 Jul 2014 16:55:00 +0200)
Gem Diamonds lifts Letšeng FY guidance after ‘exceptional’ H1 performance
London-listed Gem Diamonds has upped the full-year production guidance for its 70%-owned flagship Letšeng mine, in Lesotho, from between 90 000 ct and 95 000 ct to between 95 000 ct and 100 000 ct, saying on Tuesday that the mine had delivered an “exceptional” performance in the six months ended June 30. “The extension of the contract with the Alluvial Ventures treatment plant to the end of 2015, a new and larger mining fleet, as well as improved plant availability have all contributed to a positive revision of [the] full-year 2014 production guidance,” the company said in a trading update.
(Tue, 29 Jul 2014 10:28:00 +0200)
Debate on length of strikes needed – Mantashe
Society needs to debate solutions to strikes that last too long, ANC secretary general Gwede Mantashe said on Tuesday. "Such a debate must not be seen as an attack on workers' rights and an affront on the right to strike but rather an important step towards mitigating the negative effects of prolonged strikes on workers and the economy," he told reporters in Johannesburg.
(Tue, 29 Jul 2014 12:52:00 +0200)
South Africa's ANC prefers local buyer for Amplats mines
South Africa's ruling African National Congress (ANC) would like a local company to buy mines being sold by Anglo American Platinum but it will not try and influence the deal, the party said on Tuesday. The world's biggest platinum producer, a unit of Anglo American, said last week it would sell a swathe of its most labour-intensive South African mines after a five-month strike hit its revenues and as it follows a long-term pivot to mechanised operations.
(Tue, 29 Jul 2014 15:16:00 +0200)
AEL eyes Australian market for growth
AECI’s explosives arm AEL has branched out into Australia as it teams up with undisclosed customers for the supply of explosives into this new market. An AECI office had been established in Brisbane, while preparations were under way to ship a bulk emulsion plant from South Africa to an operating site in Bajool, Queensland, over the next few weeks.
(Tue, 29 Jul 2014 16:13:00 +0200)
Boikarabelo development continues as Resgen seeks new contractor
JSE- and ASX-listed Resource Generation (Resgen) is undertaking the development of some projects at its Boikarabelo mine, in the Waterberg, while it works to find a new earthworks contractor for the operation. The coal hopeful reported earlier this month that the sudden shutdown of the Boikarabelo earthworks contractor Protech Khuthele Holdings’ operations, would delay the completion of the mine by three to six months, with first coal to be delivered only in the first half of 2016.
(Tue, 29 Jul 2014 12:44:00 +0200)
Despite tough market, Paladin sales beat expectations
ASX- and TSX-listed uranium producer Paladin Energy on Monday reported strong full-year 2014 and fourth-quarter output, meeting its guidance. Paladin, which produces yellowcake from operations in Africa, reported combined output of 7.94-million pounds of uranium oxide, which was down 3.8% year-on-year, but met the upper-end of the company’s guidance of between 7.8-million pounds and eight-million pounds.
(Mon, 28 Jul 2014 23:55:00 +0200)
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