Rockwell progresses latest diamond mine
JSE- and TSX-listed alluvial diamond producer Rockwell Diamonds’ ambition to return the promising Niewejaarskraal mine to production was progressing well within budget and on schedule.
Speaking to Mining Weekly Online, Rockwell president and CEO James Campbell said the operation was expected to deliver its first diamond early in June, while ramping up to the Phase 1 initial full production of 115 000 m3 a month by September.
(Fri, 24 May 2013 14:17:00 +0200)
Does new technology offer rich, long-life for SA’s ultradeep mines?
South African technology, the nomenclature AngloGold Ashanti has chosen for its modern new “game-changing” mechanical-cutting mining application, has passed the test at the company’s TauTona pilot site.
The cautious optimism that AngloGold executives were applying to comments on this new automated technology – which stops all blasting, creates peopleless stopes and allows year-round, around-the-clock continuous mining that puts the focus back on to revenue – is now giving way to far more confident rhetoric.
(Fri, 24 May 2013 10:19:00 +0200)
Gold Fields names adviser for Kyrgyzstan project review
JSE-, NYSE- and Nasdaq- listed Gold Fields has appointed investment banking group Jefferies International as exclusive financial adviser in the review of “potential strategic alternatives” for the Talas copper and gold project, in Kyrgyzstan. The review would examine and consider opportunities available to the company, with the objective of further enhancing shareholder value. As the review would not necessarily result in any specific strategic or financial transaction, no timetable had been set for its completion.
(Fri, 24 May 2013 09:52:00 +0200)
Mining industry vital for NDP – Mkhize
The mining industry will play an important role in delivering 11 million additional jobs as envisaged in the National Development Plan (NDP), African National Congress (ANC) treasurer general Zweli Mkhize said on Thursday. "It is fair to say that the NDP, representing our vision 2030, particularly the R3 trillion infrastructure plan, rests largely on successful mining industry," Mkhize told the National Union of Mineworkers' central committee meeting in Pretoria.
(Fri, 24 May 2013 08:30:00 +0200)
Rockwell posts Q4 loss as impairments impact on performance
JSE- and TSX-listed Rockwell Diamonds posted a fourth-quarter loss of C$3.6-million, owing to its having taken decisive action at its loss-making operations to bring about a corporate turnaround, which resulted in impairments totalling C$5.4-million in the quarter ended February 28.
Rockwell’s total revenue of C$9.1-million improved by 11% year-on-year, while the company reported 19% year-on-year revenue growth from diamond sales, excluding beneficiation, to C$7.2-million, underpinned by a 55% increase in carat sales from its operations in South Africa's Middle Orange River operations, a region that is critical to its production growth strategy.
(Fri, 24 May 2013 00:59:00 +0200)
Eskom mulls ways to plug R225bn hole, hints to more support
Eskom reaffirmed to the Parliamentary Portfolio Committee on Energy on Friday that it would not, through efficiencies alone, be able to close the R225-billion financial gap arising from the lower-than-requested tariff determination for the coming five years. Several other responses were, therefore, being pursued, including an initiative to identify whether additional support might be required from the utility’s shareholder, the South African government.
(Fri, 24 May 2013 15:30:00 +0200)
Palabora resumes hoisting operations
JSE-listed Palabora Mining on Friday said that its hoisting systems returned to operation this week.
The South African copper producer suspended hoisting operations of its north hoisting winder after a process control failure led to tangled tail ropes on May 15.
(Fri, 24 May 2013 14:52:00 +0200)
Anglo's Drayton South faces more scrutiny
New South Wales Minister for Planning and Infrastructure Brad Hazzard has called for further scrutiny of Anglo American’s Drayton South coal mine, after community concerns were raised.
Hazzard said this week, that he had written to the independent Planning Assessment Commission to request that it defer its review of the proposed opencut mine to allow the Department of Planning and Infrastructure to undertake further work on public concerns.
(Fri, 24 May 2013 08:52:00 +0200)
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