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Mon,02Mar2015

Mining

Mining sector concerned at draft changes to Congo regulations

Photo©ReutersMining companies said on Monday the Congolese government's suspension of negotiations with them over new regulations could jeopardise investments, and urged it to resist making big changes to the mining code.

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Mining firms seek clarity on Zimbabwe platinum export tax

Photo©ReutersMiners Aquarius and Impala said on Friday they are seeking clarity from Zimbabwe's government over a proposed 15 percent export tax on unrefined platinum which, if enforced, would slash their margins.

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A new mining landscape

Coal prices are down, but companies like Vale take a longer term, cyclical view©Marcelo coelho/valeThe rise and rise of global commodity prices is over, but it's not all gloom and doom in the mining sector. What we can expect in the coming year is a geographical shift in both the African countries offering the best investment environment and the global players looking to profit.

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Vedanta's Zambia unit halts underground work due to reduced power

Photo©ReutersZambia's Konkola Copper Mines (KCM) has suspended underground work at its Nchanga mine due to flooding caused by reduced electricity supply stemming from a dispute with Copperbelt Energy Corp (CEC).

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Petra finds $10 million-plus white diamond

File photo©ReutersPetra Diamonds Ltd has found a 232.08-carat white diamond at its Cullinan mine in South Africa, which four analysts predict could fetch between $10 million to $16 million.

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South Africa's NUMSA union turns down 10 pct offer: union sources

The National Union of Metalworkers of South Africa (NUMSA) has rejected the latest employers' offer of a 10 percent wage increase this year and 9.5 percent in 2015.

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Mining: More digging, more problems

No smoke without fire: Gécamines is shrouded in complex and murky deals. Photo©GWENN DUBOURTHOUMIEUDemocratic Republic of Congo's state-owned Gécamines is continuing its restructuring plans but it has not shown a commitment to transparency or an ability to raise funds.

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Anglo American plans platinum mine sales

Photo©ReutersGlobal miner Anglo American Plc has put some of its platinum mines in South Africa up for sale in a move by Chief Executive Mark Cutifani to dispose of underperforming assets, Britain's Sunday Times reported.

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Mining: De Beers' big green machine sucks up Namibia's marine diamonds

De Beers' Debmar Atlantic VesselHuge mud-sifting machinery and other technological advances pioneered by De Beers over the past decade have enabled it to profitably exploit the world's largest marine diamond deposits in deep waters off Namibia.

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South Africa mines minister seeks urgent end to crippling strike

Photo©ReutersSouth Africa's new Mining minister, Ngoako Ramathlodi has said he wants help resolve the strike in the platinum mining sector that has entered its fifth month.

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Mining the green gold of Ethiopia's Danakil

The Danakil Depression holds the world’s largest potash deposit – production should start by 2015. Stocktrek Images/Richard Roscoe/GettyAs companies rush to secure their claim on Ethiopia's mineral riches, the government is keen to show it supports international transparency measures.

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Africa output growth boosts Glencore copper output

Photo©ReutersMiner Glencore Xstrata met market forecasts with a 24 percent increase in copper production in the first quarter of 2014 mainly due to output expansion at its African operations and to higher grades at its South American mines.

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Mine workers postpone strike at AngloGold's Mali mines

Mine workers at AngloGold Ashanti's Sadiola and Yatela gold mines in Mali have postponed the start of a planned strike for a few days to allow negotiations over redundancy payouts, a union official said on Monday.

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Glencore interested in buying Shell assets in Nigeria

Commodity trader and miner Glencore confirmed on Tuesday its interest in buying oil assets that oil major Shell is selling in Nigeria.

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Ghana: Newmont to cut additional 500-600 gold mine jobs

Newmont Mining Corp plans to cut up to 600 jobs at its Ghana gold mine by June this year, its local manager said on Monday, citing an ageing facility and slumping gold prices.

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Mining: The golden days are gone

Photo©ReutersMiners across Africa face difficult financial headwinds after the price of gold dropped by more than a fifth in 2013. Companies are cutting jobs and rethinking their investments.

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Mining: Precious little to celebrate

Mining turnover dropped by 9.4% in 2012, and companies are now dealing with the threats of industrial action and utility tariff increases.

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ICL to partner with Allana in Ethiopian potash mine

Potash. Photo©ReutersIsrael Chemicals (ICL) said on Thursday it would partner with Canada's Allana Potash to develop a potash mine in Ethiopia in a deal which includes ICL taking a stake in Allana.

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South African gold mines seek ban on strikes

In an unprecedented move, the Chamber of Gold Mines have gone to court to stop Thursday's stike action by the Association of Mineworkers and Construction Union (AMCU).

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Zimbabwe's coal mining sector gets a boost

Photo©ReutersLondon-listed coal and iron-ore exploration and development company, Sable Mining Africa - one of 20 firms granted special grants in 2010 to explore for coal and coal-bed methane gas - is set to roll out a new $500 million coal mine in Zimbabwe.

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