Dollar shortages are creating the risk of some mines shutting down, while investors calling for the removal of foreign exchange restrictions.
CHROME Mining News
Metallon Corp. is considering paying mining-equipment suppliers in gold because a cash shortage in Zimbabwe is hampering its plan to expand output.
Uncertainty around the charter has deterred investment into a sector that accounts for 8 percent of gross domestic product in the world's top platinum producer.
Miners are urging the government to lift a six-year ban on large-scale projects in the Philippines after the state removed restrictions on smaller ventures.
It gives the company access to 23,903 hectares of land in the country Great Dyke, which has a potential for 96 million ounces of platinum and palladium.
Tharisa would join Karo Resources, founded by mining entrepreneur Loucas Pouroulis, in building the mine.
Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.
The Moti Group would be open to listing the stock in its operation provided it makes “business sense and has a strong rationale behind it.”
Mine development stalled under Mugabe, whose policies led to a collapse in the economy and hyperinflation.
Cyril Ramaphosa isn’t even president yet and mining companies are already changing their tune on South Africa.
Miner announced record output of chrome and platinum group metals, also said it was seeking to diversify into EV materials.
South Africa intends to suspend the granting of applications for prospecting and mining rights as well as any renewals pending a court case to review new mining laws, the Mineral Resources Minister Mosebenzi Zwane said on Thursday.
As the annual wage bargaining season begins, authorities fear the situation will get worse.
For staging an illegal strike that started last week.
Glencore Xstrata operations are down at three locations.
Global diversified miner Xstrata Plc. (LON:XTA) confirmed Friday it has dismissed 400 of its workers who have been on an illegal strike at its South African mines.
Following a meeting yesterday, Samancor Chrome said that it will issue an update to workers regarding their wage agreement.
The company reports on the acquisition of claims in the Ring of Fire area, changes of the board and the authorization of a new auditing group to fix remuneration.
Diversified miner Xstrata Alloys was progressing the ramp-up of its Helena chrome mine, in Mpumalanga, with the development of a south decline underground, the company said.
A vital revenue stream for platinum miners — chrome ore — may be choked off if ferrochrome producers are successful in lobbying for a protectionist export tariff of $100/ton in their desperate attempt to protect their own businesses from China’s burgeoning chrome refiners.
South Africa is pricing itself out of the ferrochrome market despite it being the world's largest producer of chrome ore by selling it at low cost to China
The Zimbabwe Chamber of Mines says the government's hike of pre-exploration fees for the majority of minerals – by as much as 8,000% – together with increased royalty rates will cripple the industry.
Reuters reports that Albania is inviting bids for 151 mining licences this year, with 20 of them to be allocated through weekly competitions.
According to the CEO of Albanian Minerals, India and South Africa are mulling a ban on raw chrome exports to China in a bid to keep local ferrochrome producers competitive ... Read the full story at Mine Web
Businessweek quotes a confidential report prepared for South Africa's mining CEOs as saying South Africa’s ruling party is closer to some form of nationalization than at any other time since the end of apartheid. A government takeover of mines could choke investments in a country with metal and mineral reserves estimated at 2.5 trillion and lead to a collapse of the currency, the rand. Firebrand Julius Malema (pictured), the leader of the youth wing of the ruling African National Congress which often acts as kingmaker in the country’s politics, is spearheading the campaign to seize mines, farms and banks. Malema is never far from headlines in the country with racially charged comments but now an anti-corruption police unit is probing a trust fund owned by him allegedly being used to funnel payments in exchange for securing government tenders.