South Africa

Harmony Gold to cut over 3,000 jobs, union asks Gov’t to intervene

Cecilia Jamasmie | May 29, 2015
Harmony Gold to cut over 3,000 jobs, union asks Gov’t to intervene

The company had warned it planned to restructure several of its mines, producing almost 25% of its gold, when it posted a third consecutive quarterly loss early May.

South Africa doesn’t have enough coal for power plants beyond 2016

Cecilia Jamasmie | May 27, 2015
South Africa doesn’t have enough coal for power plants beyond 2016

Main power utility, Eskom, is struggling to meet demand in a country that depends on coal to generate 85% of its electricity.

Cecilia Jamasmie

China’s Zijin inks deals with two Canadian firms on the same day

Cecilia Jamasmie | May 26, 2015
China’s Zijin grabs stake in two Canadian firms on the same day

Perhaps the most important aspect of today’s agreements is the fact that both aim to form long-term strategic partnerships to collaborate on further ventures, opening new markets for all the firms involved.

Zijin Mining, Gold Fields among final bidders for Barrick's Australian gold mine

Cecilia Jamasmie | May 22, 2015
Zijin Mining, Gold Fields among final bidders for Barrick's Australian gold mine

Analysts believe Cowal mine may be worth at least $400 million, and that Barrick would likely get as much as $1.1 billion from the sale of both, the New South Wales' mine and Papua New Guinea’s Porgera.

Coal of Africa gets the go ahead for its Makhado Project

Tavis Communications | May 19, 2015

The miner was granted a New Order Mining Right (“NOMR”) for its flagship Makhado hard coking and thermal coal project in South Africa's Limpopo Province.

'Skinny' South32 disappoints on debut

Frik Els | May 18, 2015
'Skinny' South32 disappoints on debut

Market valuation at lower end of expectations on worries over dearth of reserves. BHP stock falls 6%.

Platinum price at 6-week high on deficit predictions

Frik Els | May 18, 2015
Platinum price at 6-week high on deficit predictions

New report highlights falling mine supply outside of Southern Africa and increased jewelry demand from China.

S. Africa chamber of mines refutes Govt. data, says members meet black ownership targets

Cecilia Jamasmie | May 15, 2015
S. Africa chamber of mines refutes Govt. data, says members meet black ownership targets

Saying that just over 20% of miners had met the black economic empowerment criteria is to tun a blind eye to the progress members have made so far, claims the ming group.

SA gold miners face repeat of brutal 2014 platinum strike

Frik Els | May 13, 2015
SA gold miners face repeat of 2014's brutal platinum strike

The union that led 2014's bitter five-month strike in South Africa's platinum belt has brought the same demands – doubling of wages – to the gold sector.

Giving up on iron ore best option for Anglo American — Investec

Cecilia Jamasmie | May 13, 2015
Giving up on iron ore best option for Anglo American — Investec

The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.

Protester shot dead in third day of unrest at S. Africa’s mine

Cecilia Jamasmie | May 13, 2015
Protester shot dead in second day of unrest at S. Africa’s mine

The incident happened when South African police allegedly clashed with protesters near Atlatsa Resources’s Bokoni platinum mine.

Glencore CEO says rivals pushing mining sector into confidence crisis

Cecilia Jamasmie | May 12, 2015
Glencore CEO says rivals pushing mining sector into confidence crisis

Ivan Glasenberg has once again slammed his competitors, who he accuses of damaging the credibility of the mining industry.

This is how BHP plans to be the world’s lowest-cost iron ore miner

Cecilia Jamasmie | May 12, 2015
This is how BHP plans to be the world’s lowest-cost iron ore miner

CEO Andrew Mackenzie announced the firm would cut capital and exploration expenditure to $9 billion in the 2016 financial year from $12.6 billion in 2015.

AngloGold Ashanti back to black

Cecilia Jamasmie | May 11, 2015
AngloGold Ashanti back to black

The miner, which is the world’s No.4 bullion producer, said unreasonable wage demands and escalating power costs in South Africa will likely push the country’s industry down the slippery slope.

Glencore boss blames iron ore top miners for share price fall

Cecilia Jamasmie | May 7, 2015
Glencore boss blames iron ore top miners for share price fall

The company's shares have lost over 40% of their value since it first listed in 2011 on the London Stock Exchange.

Capacity development critical to sustaining economic growth in Africa

acbf | May 7, 2015
Over 200 miners trapped underground in illegal South African mine

Prices of commodities are expected to remain high and to be a key driver of African growth over the next few years

South Africa delays court decision on black ownership of mines

Cecilia Jamasmie | May 5, 2015
South Africa delays court decision on black ownership of mines

The mines ministry has missed an April deadline to ask courts solve the issue of whether companies may claim they meet black-ownership quotas if shareholders have sold their stakes.

This plant may be the best diamond-finding tool you’ll ever have

Cecilia Jamasmie | May 4, 2015
This plant may be the best diamond-finding tool you’ll ever have

American geophysicist and Fulbright scholar, Stephen Haggerty, has found a new prickly, palm-like plant that seems to grow only on top of kimberlite pipes.

RioZim seeks partnerships for $2.1bn Zimbabwe power plant

Bloomberg | May 4, 2015

RioZim Ltd., which mines gold, diamonds and coal in Zimbabwe, wants to work with state-owned power utilities in South Africa and Namibia to build a 1,400-megawatt electricity plant near its Sengwa coal fields.

Low diamond prices push Anglo American to cut output

Cecilia Jamasmie | April 23, 2015
Low diamond prices push Anglo American to cut output

The global miner trimmed its forecast from 32m-34m carats to 30m-32m because of “current trading conditions”.

Scientists reveal diamond bearing rocks more common than originally thought

Cecilia Jamasmie | April 20, 2015
Diamond study reveals key information about the Earth

A team of Australian scientists have, for the first time, identified the exact source of diamond-bearing rocks known as orangeites.

‘Perfect’ 100-carat diamond goes under Sotheby's hammer

Cecilia Jamasmie | April 20, 2015
‘Perfect’ 100-carat diamond goes under Sotheby's hammer

The flawless, 100-carat diamond could fetch up to $25 million when it goes under Sotheby's hammer in New York on Tuesday

Irish Kenmare sends S. African miners in Mozambique home over xenophobia

Cecilia Jamasmie | April 20, 2015
Irish Kenmare sends S. African miners in Mozambique home over xenophobia

The decision follows a similar move by Sasol, which repatriated Friday 340 of its employees working on projects in the Southeast Africa nation for their own safety.

AngloGold a step closer to selling U.S. mine

Cecilia Jamasmie | April 13, 2015
AngloGold a step closer to sell U.S. mine

Newmont, Kinross, Goldcorp and Iamgold among the companies said to be interested in all of part of Cripple Creek & Victor mine.

Workers strike at Anglo’s coal mine in South Africa

Cecilia Jamasmie | April 8, 2015
Workers strike at Anglo’s coal mine in South Africa

More than 400 members of the National Union of Mineworkers (NUM) downed tools Wednesday, demanding the removal of the mine's general manager.

Harmony halts operations at Unisel mine after fatal incident

Cecilia Jamasmie | April 7, 2015
Harmony halts operations at Unisel mine after fatal incident

The employee was fatally injured in an accident while performing maintenance work on Saturday.

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