Mining News

Proponents see glistening future in seabed mining, but environmentalists fret

With the current known mineral deposits on land increasingly being depleted globally, necessitating greater exploration, interest in deep-sea minerals is growing as mining companies look for future sources to exploit. “The ocean is where future resources exist,” India Council of Scientific and Industrial Research National Institute of Oceanography chief scientist Dr Rahul Sharma said at South Africa’s Council for Geoscience Annual Conference 2017, earlier this month.
(Fri, 24 Mar 2017 08:00:00 +0200)

Kusasalethu strike ends

A two-day unprotected strike at Harmony Gold's Kusasalethu mine, near Carletonville, drew to a close on Friday afternoon, following discussions between Harmony's senior management and the senior leadership of the Association of Mineworkers and Construction Union (AMCU). “I am pleased that the matter has been resolved and that operations at Kusasalethu will return to normality. Today, the parties demonstrated that they are willing and able to put their differences aside in the best interests of our employees and their families," said Harmony CEO Peter Steenkamp.
(Fri, 24 Mar 2017 09:07:00 +0200)

Tanzania gold export ban costing Acacia $1m a day in lost revenue

The recent implementation of a gold and copper exports ban by the Tanzanian government is costing its largest gold miner, Acacia Mining, an average of $1-million a day in revenues. LSE-listed Acacia Mining on Friday said it was now taking a “range of actions” at its Bulyanhulu and Buzwagi mines to manage this financial impact.
(Fri, 24 Mar 2017 10:02:00 +0200)

Govt rules out granting mining licences to zama-zamas as it seeks solutions to illegal mining

While government is committed to finding a reasonable solution to regulate the artisanal mining sector, in South Africa this will  only apply to surface projects, and not to those undertaken in underground areas by the many illegal miners referred to as zama-zamas, Mineral Resources Deputy Minister Godfrey Oliphant said on Friday. “There is no ways that we, as the Department of Mineral Resources (DMR), can in good conscience grant permits to artisanal miners for deep-level mines, that in most cases are being accessed using old, abandoned shaft infrastructure, which are unsafe. We would essentially be sending people to their deaths.”
(Fri, 24 Mar 2017 15:32:00 +0200)

Slow progress in payouts to former miners – Oliphant

Deputy Mineral Resources Minister Godfrey Oliphant on Thursday conceded that efforts to reach out and compensate former mineworkers, many of whom from neighbouring countries, have not been satisfactory. In his keynote address at the Southern Africa Trust summit on social security and compensation benefits, the deputy minister said government was exploring ways of expediting the identification and payment to the former miners across the Southern Africa Development Community (SADC).
(Fri, 24 Mar 2017 11:07:00 +0200)

CRG raises funds for working capital, concentrator circuit

Central Rand Gold (CRG) has raised £300 000 through the issue of 60-million new ordinary shares at an issue price of 0.5p apiece. The proceeds will be used for working capital and building a 60 000 t/m concentrator circuit aimed at upgrading the gold grade of mine waste dumps materials before further metallurgical processing and civil construction.
(Fri, 24 Mar 2017 14:20:00 +0200)

Goodlace joins Kumba board

Former Impala Platinum CEO Terence Goodlace has joined the board of JSE-listed Kumba Iron Ore as independent nonexecutive director with immediate effect. Goodlace also previously held the post of Metorex CEO and Gold Fields COO and executive VP and head of the international operations. Currently, he is an independent nonexecutive director at Gold Fields, having been appointed in July 2016.
(Fri, 24 Mar 2017 14:49:00 +0200)

Reviving king of gold means getting mine workers off their knees

During his early years as a miner in South Africa, Joas Mahanuque spent six hours a day on his knees drilling for Impala Platinum Holdings Ltd. The dust-filled tunnels half a mile underground were too low for him to stand, and temperatures reached 105 degrees Fahrenheit (40 degrees Celsius). Today, he has essentially the same job 2.5 kilometers (1.5 miles) beneath the surface for Gold Fields Ltd. But unlike most of the precious-metals miners in the country, Mahanuque sits comfortably atop a new 7-ton vehicle, using a joystick to control an 8-foot drill as ventilated air blows behind him.
(Fri, 24 Mar 2017 12:14:00 +0200)

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