AngloGold Ashanti in talks with stakeholders, unions to tackle challenges facing its operations
South Africa-focused gold producer AngloGold Ashanti on Thursday said that, while it was in talks with certain stakeholders, including unions and authorities, to address challenges facing its local operations, “job cuts will always be a last resort”. This comes after earlier media reports noted that the company was looking to lay off more than 800 workers.
(Fri, 20 Jan 2017 08:14:00 +0200)
South Africa’s mining sector at a crossroads, collaborative effort required
The global mining industry has been struggling since the 2008 international financial crisis set off a chain of events resulting in contracted growth in important markets, such as China, and recession in others, such as Europe, leading to severe declines in commodity prices. In South Africa, the decline was exacerbated by cost increases well above the inflation rate, including the cost of electricity, which has trebled over the past eight years.
(Fri, 20 Jan 2017 08:00:00 +0200)
Shift to coal under way in Botswana, but diamonds still dominate
Botswana’s ambitions to develop its coal mining sector and reduce its dependency on diamonds will face an uphill battle in the face of subdued coal prices and the overshadowing value of the diamond sector. The government-driven shift to coal production ramp-up in the next few years was expected to yield steady progress, supported by low operating costs, a solid project pipeline and rising regional and domestic demand, market analyst BMI Research said on Friday.
(Fri, 20 Jan 2017 10:09:00 +0200)
Mustang ships first rubies from Mozambique
ASX-listed gem producer Mustang Resources has completed the commissioning of the processing plant at its Montepuez ruby project, in Mozambique, and has sent its first commercial parcel of rubies to customers in the US.
The company told shareholders on Friday that production at Montepuez was currently ramping up to the targeted rate of 525 t/d, which is forecast to result in a substantial increase in monthly ruby production.
(Fri, 20 Jan 2017 10:03:00 +0200)
BMR can recover vanadium from tailings with no modifications to plant
Metallurgical testwork currently being carried out at BMR Group’s Kabwe project, in Zambia, is providing encouraging results with regard to the metal’s potential recovery and production from its tailings. This, the company said on Friday, further bolstered BMR’s asset base.
(Fri, 20 Jan 2017 11:44:00 +0200)
Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal ...
South Africa’s mining stakeholders need to “go back to the drawing board” and refocus efforts on bringing down the number of fatalities in the sector, trade union Solidarity's deputy general secretary for occupational health and safety and sustainable development Advocate Paul Mardon said, as a marginal improvement in the industry’s 2016 health and safety performance was reported on Thursday. The Department of Mineral Resources (DMR) on Thursday reported a particularly challenging 2016 for health and safety at mines, with 73 fatalities officially recorded in the mining sector for the year.
(Thu, 19 Jan 2017 16:46:00 +0200)
Sibanye’s Stillwater platinum deal edges forward
Precious metals mining company Sibanye’s proposed acquisition, Stillwater Mining of the United States of America, edged forward on Thursday with the notification that both companies had received early termination of the waiting period under the US’s Hart-Scott-Rodino legislation, which means that the transaction’s antitrust condition has now been satisfied. Announced in early December, the deal is expected to close in the second calendar quarter of 2017, subject to shareholder, South African Reserve Bank, and others', customary approvals.
(Thu, 19 Jan 2017 09:33:00 +0200)
Anglo shortlists bidders for some South African coal mines
Anglo American has shortlisted groups led by some of South Africa’s most prominent black businessmen as bidders for several of its South African coal mines as it focuses on diamonds, platinum and copper, two people familiar with the discussions said. Groups selected by Anglo include companies led by Mike Teke, president of South Africa’s Chamber of Mines; Phuthuma Nhleko, chairperson of the Phembani Group and head of Africa’s biggest mobile phone company MTN Group; and Sandile Zungu, executive chairperson of Zungu Investments, according to the people who asked not to be identified because the information is not public. Rand Merchant Bank is involved in the process, they said.
(Thu, 19 Jan 2017 08:09:00 +0200)
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