South Africa’s legislative interventions failed to create wealth – UK analysts
The passing on Thursday of former South African President Nelson Mandela – a world icon for peace and reconciliation – on Friday prompted market analysts at SP Angel, in London, to take a pensive look at how South Africa’s renewed legislative environment had helped to boost personal wealth creation when compared with Australia, aided by the country’s immense mineral wealth. In their opinion, South Africa had essentially failed.
(Fri, 06 Dec 2013 16:37:00 +0200)
Friedland’s fireside remarks potentially inflammatory to SA platinum mining
Legendary mining entrepreneur and self-made billionaire Robert Friedland ran the risk of inflaming tension in South Africa at a very sensitive time for platinum miners with his recent “fireside” remarks that underground platinum miners in the country were underpaid, market analysts at SP Angel, in London, said on Friday.
Political leaders and mining companies had worked hard to restore peace and jobs to the platinum sector after the Marikana incident, which was whipped up by competition between competing mining unions the Association of Mineworkers and Construction Union (AMCU) and National Union of Mineworkers (NUM).
(Fri, 06 Dec 2013 17:10:00 +0200)
Business community pays tribute to Nelson Mandela
Several industry and private sector organisations have paid tribute to the late Nelson Rolihlahla Mandela, who passed away on Thursday evening at 95, praising the former stateman’s indelible contribution to South Africa’s business community. Business Unity South Africa (Busa) stated that, while it mourned the passing of the world’s icon of democracy and reconciliation, the business community had “every reason” to celebrate his contribution to South Africa’s democracy and a positive investment climate.
(Fri, 06 Dec 2013 11:29:00 +0200)
Anglo American boss to flesh out miner's recovery plan
Four months after branding Anglo American's performance "unacceptably poor", CEO Mark Cutifani is to tell investors on Thursday how he plans to improve the miner's operations and hit ambitious 2016 performance targets.
Anglo, the smallest of the leading diversified miners, has long lagged behind its peers. In the past two years alone it has been hit by labour troubles in South Africa, operational hiccups at key copper mines and multibillion-dollar cost overruns in Brazil.
(Fri, 06 Dec 2013 22:28:00 +0200)
Niger sees Areva mine start delayed to end of 2015
French nuclear company Areva will delay the start of uranium production from its Imouraren mine in Niger by at least six months to the end of 2015, Niger President Mahamadou Issoufou said on Friday. Speaking ahead of the Franco-African Summit which begins on Friday, Issoufou told reporters he was confident a deal to renew ten-year contracts for mines run by Areva in northern Niger would be renewed by the end of the year with a fair outcome for both sides.
(Fri, 06 Dec 2013 14:19:00 +0200)
Determined Daphne still set on realising her manganese smelting dream
President Jacob Zuma last Friday launched the Stanley Nqobizizwe Nkosi manganese sinter plant near Hotazel, in the Northern Cape, marking the latest high point of Daphne Mashile-Nkosi’s long walk to emancipating manganese from the sole preserve of the male species. Mashile-Nkosi, a 55-year-old grandmother, is the executive chairperson and cofounder of Kalagadi Manganese, the black economic- empowerment company that holds the right to mine manganese on various farms in the area.
(Fri, 06 Dec 2013 08:00:00 +0200)
CRG to raise £1.69m
Gold miner Central Rand Gold (CRG) on Friday announced that it was undertaking a placing, subscription and open offer to raise up to £1.69-million through the issue of up to 19.2-million open shares at 8.78p apiece. Pursuant to the terms of the placing and the subscription, about 12.75-million open offer shares had been conditionally placed with investors subject to clawback by existing shareholders under the open offer.
(Fri, 06 Dec 2013 11:58:00 +0200)
Elitheni Coal receives R15m loan
Aim-listed Strategic Natural Resources’ (SNR’s) 74%-owned subsidiary Elitheni Coal had received an R15-million unsecured loan from Andrew Ruhan, enabling it to repay the amount it owed to Rapidtrade, as well as some of the claims of other legitimate creditors, including those who submitted a liquidation notice for the company in November.
(Fri, 06 Dec 2013 14:54:00 +0200)
Mining news, mine exploration industry news covering all aspects of the global mining industry. Provides mining industry news and information to miners, suppliers, industry investors, mining companies, mining job seekers, and others.
Mining and exploration industry news. Find a Mining Job offers the latest mining developments, resources and industry news from around the world. Stay up to date with the latest market information covering real-time news on mining projects across a range of minerals including gold, copper, platinum, diamonds, and other metals.
Keep up with what's happening in the worldwide mining industry. Our Mining News is constantly being updated to provide you with current articles on various parts of the mining industry. Follow new developments in the mining field with mining industry news, insights, analysis & general information about mining.