Zimbabwe's state media has reported that the state mining corporation says it is paying government employee raises this month with revenues from controversy-mired diamond fields in eastern Zimbabwe.
Africa Mining News
South African coal workers went on strike on Monday seeking inflation-busting 14 percent wage increases, but power utility Eskom said the stoppage would not have an immediate impact on plants providing electricity to Africa's largest economy.
Namibia's Ministry of Environment and Tourism has granted environmental approval for the linear infrastructure for the proposed Husab uranium project to Extract Resources subsidiary Swakop Uranium. The approval, covering access roads, electricity, telecommunications and water supply, is the final environmental approval needed for the project. The project mining area received environmental approval in January. Extract is now waiting to receive a mining licence from the Ministry of Mines, according to managing director Jonathan Leslie.
Bloomberg reports BHP workers in Chile voted Sunday to extend their strike at the world’s largest copper mine. Stoppages at BHP’s Australian coal operations may resume this week. Thirty thousand South African coal mine workers including Anglo American and Xstrata employees walked off the job Sunday and may be joined by 160,000 gold industry workers. Strikes that started over the weekend are impacting output from mines of diamond giant De Beers. Workers are seeking a larger slice as global producers report record earnings: Melbourne-based BHP, the world’s biggest mining company, is expected to report full-year profits of $22.5 billion next month, almost double 2010’s net income. Xstrata may report record 2011 profit of $7.3 billion and Anglo American $7.4 billion, estimates show.
Namibia's Ministry of Finance has announced plans to raise its mining tax by 17 percent, though the increase will not apply to the diamond sector. The ministry said in a statement that the mining tax will be raised from 37.4 percent to 44 percent
The government of Zimbabwe has rejected all 175 of the empowerment proposals submitted by foreign-owned mining companies operating in the country, threatening to "kick them out" if the don't revise the plans, according to SW Radio Africa. The
Members of South Africa's National Union of Mineworkers (NUM) employed by De Beers Consolidated Mines (DBCM) began striking on Friday evening after wage talks between the two parties failed earlier in the week. Eighty percent of the company's workers are
HYTEC Cape Town has recently been awarded a large contract by De Beers Marine Namibia for the refurbishment of the mining system hydraulics on one of the mining giant’s offshore mining vessels.
About 150 000 South African coal workers seeking 14% wage increases plan to walk off the job from Sunday in a strike that could dent exports and hurt power supplies in Africa's largest economy. Hundreds of thousands of union workers have downed tools in recent weeks, or are threatening to do so, seeking raises double or triple the 5% inflation rate in the mid-year bargaining session known locally as "strike season".
Construction work on a coal terminal at the northern Mozambican port of Nacala is to begin in July. Sources in Mozambique have revealed that Brazilian firm Vale, which will be one of the main beneficiaries of the new facility, has awarded a contract to Zagope of Portugal to develop the terminal.
"We are on the budget to achieve 272,000 ounces by the end of the year," Bristow told Reuters in Abidjan on Saturday. "The mine will produce approximately the same level every year, currently and after for nine years," he added.
African Queen Mines (CVE:AQ) is an exploratory resource company focused in Africa, with loads of development potential. Being at its lowest share price in two years due a recent hammering of small-cap junior mining stocks, the company is set for significant upside potential, asserted CEO Irwin Olian to Proactiveinvestors.
Work is expected to begin in September on a pilot plant that will convert stockpiled magnetite fines into metallic iron at Palabora Mining from the end of June next year. Martin Creamer of Mining Weekly talks to Iron Mineral Beneficiation Services (IMBS) CEO John Beachy.
Africa's biggest gold miner AngloGold Ashanti said on Friday it would acquire a 19.79 percent stake in Canadian gold and uranium producer First Uranium Corp for $30 million. AngloGold said it would buy the stake, which consists of 47 million shares and priced at $0.64 a share, from South Africa's Village Main Reef Gold Mining.
Mining Weekly reports that Canadian diamond company, Lucara (CVE:LUC) will list on the Botswana exchange.
Namibia plans to raise its mining tax to 44 percent from 37.5 percent but said the hike will not apply to diamond mining companies, the ministry of finance said in a statement on Friday. The ministry said the country is facing volatility in its key revenue sources and is looking to strengthen revenue collection.
South African National Union of Mineworkers' members at diamond producer De Beers Consolidated Mines started a strike on Friday after wage talks failed, a union spokesman said. The union wants a 15 percent rise in wages, while De Beers is offering 7.5 percent and a once off payment of 2,500 rand ($367).
Serengeti Breweries Limited has appointed Ephraim Balozi Mafuru its director of marketing. He joins SBL from consultancy firm Hillside Investment Company Limited, where he was one of the directors. Mafuru holds an MBA and a BCom from the University of
Since starting operations as an independent business unit under the banner of the BBE Group in March 2011, BBEnergy has been awarded four South African mining projects worth a total of R60 million within its first four months of operation.
Eleven firms have been pre-qualified for a concession to manage the Mui Basin coal deposits in Kitui and construct coal-fired power plants as the government steps up efforts to reduce the country's reliance on hydro electricity. The investors, drawn from South Africa, Japan and China are expected to submit proposals to explore and develop the coal resources in four blocks covering an area of 500 square km in parts of Eastern Kenya.
Lonmin PLC (LMI.LN), the world's third largest primary platinum producer, Thursday said it expects to meet its annual platinum sales target, provided there are no work stoppages, and raised its annual unit cost guidance to reflect reduced output in previous quarters. The U.K.-listed, South African miner expects to sell 720,000 troy ounces of platinum in the financial year ending Sept. 30 and expects annual unit costs to rise 11%, up from a previously forecast 8%, due to production setbacks stemming from industrial action and six fatalities during the first six months of the financial year.
WAGE talks with the world's largest diamond producer De Beers will get under way on Wednesday, the National Union of Mineworkers said. Talks would be held with a facilitator from the CCMA, spokesman Lesiba Seshoka said in a statement. The diamond giant
Axmin has signed a mandate letter with South African bank to underwrite a $100 million loan, and help source another $130 million to finance Passendro gold mine in Central African Republic.
In today's operating environment, a mining company is as likely to be judged on its environmental and social performance as its ability to pull minerals out of the ground. Randgold Resources has taken on an ambitious project in the Democratic Republic of the Congo to build one of the largest gold mines in Africa.
Paladin Energy, the ASX- and TSX-quoted uranium miner, said on Wednesday that production for the year ended June rose 32% to 5.7-million pounds, but was lower than expected because of heavy rainfall at its Namibian mine and “mechanical issues” at the Kayelekera operation in Malawi.