1. Articles in category: Resources

    1-24 of 126 // 1 2 3 4 5 6 »
    1. Zambia to increase mining electricity prices by 28.8%

      Explore MiningWeekly.com (Apr 3 2014)

      LUSAKA - Zambia's energy regulator approved a 28.8 percent electricity price increase for mining companies in the African copper producer, effective on April 2. The Energy Regulation Board (ERB) said the bulk supply agreement tariffs between state power company Zesco and Copperbelt Energy Corporation would be adjusted to 6.84c/KWh from 5.31c/KWh.

      (Read Full Article)

      Mentions:   Zambia

    2. Miner Anglo American without platinum is an option says CEO

      Explore MiningWeekly.com (Apr 2 2014)

      The chief executive, Mark Cutifani, of Anglo American, one of the world's largest diversified miners, said divesting the strike-afflicted platinum division could be an option if it does not perform as well as the others. Anglo American's Amplats, the world's top platinum producer, and rivals Impala Platinum and Lonmin are together battling an almost 10-week-old mining strike over wages, which has slashed about 40 percent of global production of the precious metal.

      (Read Full Article)

      Mentions:   Switzerland   BHP Billiton

    3. Strike causes to Amplats declare force majeure

      Explore iol.co.za (Apr 1 2014)

      Strike causes to Amplats declare force majeure

      Anglo American Platinum has sent force majeure notices to some of the suppliers to its South African mines, the world's top platinum producer said on Tuesday, underscoring the widening economic impact of an almost 10-week-old strike.

      “Suppliers of goods and services whose contractual obligations cannot be met due to the strike have been advised that force majeure is being asserted,” the company said in a statement obtained by Reuters at an industry conference in Switzerland.

      (Read Full Article)

      Mentions:   Reuters   Switzerland   Johannesburg

    4. Kenya: Grey market, bribes and power costs hurting firms

      Explore allAfrica.com (Mar 18 2014)

      Kenya: Grey market, bribes and power costs hurting firms

      The informal business sector, corruption, and electricity outages are the major impediments to the growth of private owned firms that operate in the manufacturing and retail sectors, according to a new study by a World Bank financing arm.

      (Read Full Article)

      Mentions:   World Bank   Kenya

    5. Copper prices below $5 000 could threaten Zambian mines

      Explore MiningWeekly.com (Mar 17 2014)

      Copper prices below $5 000 could threaten Zambian mines

      Zambian mines are still operating profitably, despite the fall in copper prices, but could be threatened if the price dropped below $5 000/t, Mines Minister Christopher Yaluma said on Saturday. Copper markets had been edgy over slowing Chinese demand and fears that credit upheaval in the world's second-biggest economy could unwind financing deals using the metal as collateral.

      (Read Full Article)

      Mentions:   Reuters   Zambia   London Metal Exchange

    6. Chinese group mulls SA platinum bids

      Explore iol.co.za (Feb 21 2014)

      Chinese group mulls SA platinum bids

      China’s Long March Capital Ltd., which partners with Citic Group Corporation, is considering buying South African platinum assets after their value was depressed by strikes, the company’s Managing Partner Clement Kwong said.

      The company is now reviewing a decision to hold off on purchasing South African platinum assets because of the labour issues, Kwong said in a February 19 interview in Johannesburg.

      Long March last year partnered with Citic unit Baiyin Non-Ferrous Metal Group Co. Ltd. and China-Africa Development Fund

       

      (Read Full Article)

      Mentions:   Africa   South Africa   China

    7. Offshore exploration rejected

      Explore iol.co.za (Feb 20 2014)

      Offshore exploration rejected

      Durban environmental activists have vehemently rejected an application by multi-national energy giant ExxonMobil to explore for oil and gas offshore along the KwaZulu-Natal coastline, citing the company’s poor environmental track record as a major concern.

      A major worry is also the effects of seismic surveys on whales and dolphins.

      Activists and subsistence fishermen were almost unanimous in their call at a public meeting in Austerville last night to resist ExxonMobil Exploration & Production South Africa Limited’s recent application to the Petroleum Agency South Africa (Pasa) for an exploration right in the so-called “Deepwater Durban Exploration Area” offshore.

      (Read Full Article)

    8. Coal prices dip; rise in South Africa

      Explore iol.co.za (Feb 17 2014)

      Coal prices dip; rise in South Africa

      European physical coal prices dropped slightly on Monday along with a weaker power market, while coal prices in South Africa rose on the back of electricity shortages there.

      Cargoes for delivery in April to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were at a bid/offer spread of $79-$79.75 a tonne on Monday afternoon, slightly below last Friday's levels.

      In South Africa, coal prices rose on Monday as tight domestic electricity supplies threatened to halt exports from its main terminal at Richards Bay. South African coal cargoes for delivery in March were trading at $79.25 ...

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      Mentions:   Reuters   London   South Africa

    9. Japan to invest $32bn in resource-rich Africa

      Explore iol.co.za (Feb 6 2014)

      Japan has promised financial assistance to resource-rich African nations totalling $32 billion (R356bn) for investment in infrastructure and mineral resource development, along with education, health care and human resource development, in its bid to cement relations with the continent.

      Yesterday Japan’s vice-minister of economy, trade and industry, Yoshihiko Isozaki, unveiled “Japan’s new assistance package for Africa”, amid stiff competition for the continent’s mineral resources from China.

      Isozaki said the continent was the “starting point” of the supply chain for the minerals Japan needed to produce cars and electronic appliances.

       

      Londiwe Buthelezi

      (Read Full Article)

      Mentions:   Africa   Japan   South Africa

    10. Kalagadi Manganese seals R2.2bn AfDB loan

      Explore iol.co.za (Feb 5 2014)

      The women-led Hotazel project of Kalagadi Manganese has secured a R2.2 billion loan from the African Development Bank (AfDB) after a pool of investors that had agreed to fund it, including a couple of banks, pulled out in 2011.

      The loan facility, announced at the Investing in African Mining Indaba yesterday, was enabled by a pool of foreign investors, including Chinese firms, but Kalagadi said it was looking locally for further funding.  The loan will fund the integrated mining and beneficiation project at Hotazel in the Northern Cape.

       

       

      (Read Full Article)

      Mentions:   Africa   South Africa   Transnet Freight Rail

    11. ‘Platinum strikes cost R400m a day’

      Explore iol.co.za (Feb 4 2014)

      ‘Platinum strikes cost R400m a day’

      Strikes in South Africa's platinum mines are costing the country around 400 million rand a day.   Wage talks between South Africa's AMCU union and the world's top three platinum producers resumed on Tuesday with hopes progress will be made by the end of the week to end a nearly two-week strike.

      (Read Full Article)

      Mentions:   Reuters   South Africa   Johannesburg

    12. Gigaba hints to ‘exciting’ New Largo BEE deal

      Explore MiningWeekly.com (Feb 3 2014)

      Public Enterprises Minister Malusi Gigaba says he expects to make an “exciting” announcement in the near future relating to the ownership of the New Largo coal-mine project, which has been earmarked to supply Eskom’s 4 800 MW Kusile power station, under construction in Mpumalanga.

      (Read Full Article)

      Mentions:   South Africa   KwaZulu-Natal   Transnet

    13. Western Cape to get R5bn mining boost

      Explore fin24.com (Feb 1 2014)

      Western Cape to get R5bn mining boost

      Australian-based Mineral Commodities Ltd says its Tormin mineral sands mine project will inject over R1bn a year into the provincial economy over five years.  Mineral Commodities Ltd (MRC) positions its Tormin mineral sands mine project as a niche supplier to a market which is experiencing growing demand, with limited new supply.

      The mine, located on the West Coast about 400 km north of Cape Town, has active beach deposits of heavy minerals zircon, rutile, ilmenite and garnet. Extraction started in December 2013, from a beach north of Strandfontein.

      (Read Full Article)

      Mentions:   Cape Town

    14. Shell to cut spending and step up disposals

      Explore BDlive (Jan 30 2014)

      Shell to cut spending and step up disposals

      Anglo-Dutch oil company Royal Dutch Shell plans to sell off assets, cut spending and freeze a controversial Arctic drilling programme in a new focus on returns following a major profit warning.  Just a month into his new job as chief executive of the world’s No 3 investor-owned oil company, Ben van Beurden set out plans to make the group much leaner.

      "Our overall strategy remains robust, but 2014 will be a year where we are changing emphasis, to improve our returns and cash flow performance," Mr van Beurden said in a statement.

      (Read Full Article)

      Mentions:   America   Reuters   Australia

    15. SA steel and engineering industries expected to yield better growth in 2014

      Explore Engineering News (Jan 29 2014)

      SA steel and engineering industries expected to yield better growth in 2014

      South Africa’s steel and engineering sectors are likely to yield better growth in 2014 than last year when the sector only saw  2% growth and produced output estimated at R335-billion, said Steel and Engineering Industries Federation of South Africa (Seifsa) chief economist Henk Langenhoven in Johannesburg on Wednesday. He said short-term signals indicated that benefits would be derived from the expected domestic spending on infrastructure.

      (Read Full Article)

      Mentions:   Africa   South Africa   Johannesburg

    16. Rand weakens third day as platinum strike starts

      Explore iol.co.za (Jan 23 2014)

      Rand weakens third day as platinum strike starts

      South Africa’s rand weakened for a third day and bonds fell on concern a pay strike at the world’s biggest platinum mines and a manufacturing contraction in China may dent South Africa’s exports.  The platinum strike will disrupt operations accounting for about 70 percent of global output of the precious metal, South Africa’s biggest single overseas shipment.

      Chinese manufacturing may contract for the first time in six months, adding to stresses in the world’s second-largest economy and the biggest buyer of South African raw materials, according to a gauge released by HSBC Holdings Plc and ...

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      Mentions:   South Africa   China   Bloomberg

    17. RBCT planning to expand capacity to 110Mt/y to accommodate juniors

      Explore MiningWeekly.com (Jan 21 2014)

      The Richards Bay Coal Terminal (RBCT) was planning a 19-million tons a year capacity expansion, to 110-million tons a year to respond to the call for more capacity allocation for junior miners, RBCT CEO Nosipho Siwisa-Damasane said on Tuesday.

      Currently, the terminal’s capacity was 91-million tons a year of which four-million tons was allocated to 23 junior miners through the Quattro programme, with an additional 15-million tons a year allocated to emerging black export miners, including the three-million tons a year allocated to State-owned power utility Eskom.

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      Mentions:   Transnet

    18. ‘Concerning’ relapse in Q4 metals, engineering sector growth – Seifsa

      Explore Engineering News (Jan 10 2014)

      ‘Concerning’ relapse in Q4 metals, engineering sector growth – Seifsa

      Industry body, the Steel and Engineering Industries Federation of South Africa (Seifsa), has expressed concern over the relapse of slower growth in the metals and engineering sector in the last quarter of 2013, with only a 2% increase over the last three months of the prior year.

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      Mentions:   South Africa   Kagiso

    19. Copper prices rose 5 per cent in December

      Explore supplymanagement.com (Jan 7 2014)

      Copper prices rose 5 per cent in December

      The price of copper increased by 5 per cent month-on-month in December, the largest monthly gain since September 2012.  That’s according to the latest figures from Mintec, which put the growth down to increased demand from China.

      It said: “China accounts for around 40 per cent of global demand for refined copper making them the largest consumer. The Chinese economy is estimated to have grown by 7.6 per cent, with its industrial output growing by 9.8 per cent year-on-year in 2013.”

      Mintec added copper inventories have been steadily declining for the past four months and have now ...

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      Mentions:   Walmart   China   London Metal Exchange

    20. SA seeks closer Canadian ties as overhaul of mining sector continues

      Explore MiningWeekly.com (Nov 26 2013)

      The South African government is keen to foster closer ties with Canada’s mining industry and to attract Canadian expertise, two top government officials told audience members at the Canada-Southern Africa Chamber of Business on November 26. The country is also committed to continue enhancing its mining legislation, to tackle inefficiencies, and to improve domestic levels of beneficiation.

      South African Deputy President Kgalema Motlanthe is on a State visit to Canada and underscored the mammoth progress made and the immense difficulties faced by South Africa since the inception of democracy in 1994.  “South Africa is a country of contrasts,” he ...

      (Read Full Article)

      Mentions:   Canada   South Africa

    21. Demand to drive up coal prices – Glencore

      Explore iol.co.za (Nov 21 2013)

      Thermal coal prices would rise in the medium term as current prices forced many producers to export at a loss and because booming electricity demand in Asia would drive up the market, mining major Glencore Xstrata said yesterday. 

      Thermal coal prices have dropped around 40 percent in the past three years as healthy exports from major producers such as South Africa, Australia, Colombia and the US have clashed with modest demand following the global financial crisis.

       

      (Read Full Article)

      Mentions:   Australia   Asia   South Africa

    22. South Africa’s role in shaping the platinum market wanes

      Explore BDlive (Nov 19 2013)

      South Africa’s role in shaping the platinum market wanes

      South Africa, the world’s largest source of primary platinum, does not exert the influence it once did over the platinum market as alternative supplies become more available, and the country needs to address cost reductions for its production as a matter of urgency.

      Speaking at a recent mining conference, Stephen Forrest, a director and chairman of SFA Oxford, warned of growing metal supply from recycling and countries with excess inventory.

      (Read Full Article)

      Mentions:   South Africa

    23. Kumba CEO in drive to fix ‘nightmare’ Sishen mine

      Explore BDlive (Nov 11 2013)

      Kumba CEO in drive to fix ‘nightmare’ Sishen mine

      THE most pressing focus in Kumba Iron Ore is to restore the flagship Sishen mine to full, sustainable production as quickly as possible after the company issued quarterly output data and export sales expectations that shocked the market.

      Kumba, which is 70% owned by Anglo American, reported in mid-October that production at Sishen had fallen by a third in the September quarter compared with the same period last year.

      (Read Full Article)

    24. State eyes next stage in IPP energy deals

      Explore BDlive (Nov 8 2013)

      State eyes next stage in IPP energy deals

      Buoyed by the success of the third round of its independent power producer (IPP) programme, which saw prices for clean-energy projects tumble, the government may now invite a fourth round of bidders, says Department of Energy director-general Nelisiwe Magubane.

      Bids for projects in the third window cost far less than the department had expected, she told Business Day on the sidelines of a BD Dialogue on renewable energy, hosted by Nedbank Capital in Sandton on Thursday. Ms Magubane said the department expected prices to drop even further, once IPP projects from the first round begin to generate electricity in February.

      (Read Full Article)

      Mentions:   South Africa   Eskom

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