Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash.
South Africa Mining News
The top 10 ranking of the lowest all-in cost gold mines in the world – former US president Herbert Hoover was once in charge of no. 8 on the list.
Work on AngloGold Ashanti's Mponeng gold mine in South Africa started in 1981 – a brownfield expansion project will extend the mine's life beyond 2050.
The world's number five diversified miner posted its first annual net profit in five years.
The Board takes this opportunity to welcome Mr. Li and wishes him well in his new role which amongst others will be prioritizing the commissioning and commencement of production at the Bakubung Platinum Mine project.
The Anglo American's unit logged earnings of $607 million for 2016, basically double the $304 million it recorded in 2015.
While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.
The miner, Africa's largest iron ore producer, will pay R2.5 billion, considerably less than the original R6.5 billion it had been asked to cough up.
Judge revoked an interim order that prevented the company from relocating graves present at its Platreef platinum group metals mine, in Limpopo Province.
Mines minister Mosebenzi Zwane noted that 19 of the 73 miners who died in South Africa last year lost their lives at operations run by those companies.
The miner reported broadly higher output in the fourth quarter across all divisions, except for copper, which suffered from lower grades and strikes.
The company, Africa's largest iron ore producer, expects profits to more than double this year on the back of higher iron ore prices and a weak rand.
Years of underinvestment in top producer South Africa affecting supply.
Takeover would make of Sibanye Gold the world's third largest palladium producer and fourth biggest platinum group metals miner.
Company to launch probe into the causes of the illegal sit-in of nearly 48 hours.
Together with reducing Sibanye’s dependence on its aging South African assets, the deal will make the company the world's third largest palladium producer, the company said.
The African nation produces some 70% of the globe's platinum.
While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.
A legal claims against BCL in the Botswanan courts and in the London Court of International Arbitration to recover the USD 271.3 million
The company, however, has decided to stay away from thermal coal assets due mainly to uncertainties over demand linked to climate concerns.
Canada’s Ivanhoe Mines and joint-venture partner Zijin Mining have transferred a further 15% interest in their Kamoa-Kakula copper project to the DRC’s government.
The Johannesburg-based company, however, said it remained interested in a negotiated transaction.
Recent ruling confirms expenses incurred by mining companies for employee housing can be claimed in terms of mining capital expenditure.
Offer came on the heels of Kirkland Lake's move to buy fellow bullion miner Newmarket Gold (TSX:NMI) in an all-stock deal worth about Cdn$1 billion ($764 million).
Safety related stoppages in South Africa take part of the blame for year-on-year fall in production at world's third largest gold miner.