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Africa
 
GOLD

Loulo-Gounkoto making ‘significant’ contribution to Mali economy, local communities

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Loulo-Gounkoto complex Gold mining company Randgold Resources’ Loulo-Gounkoto gold mining complex, in Mali, contributed about 8% of the country’s gross domestic product, demonstrating the importance of the complex to the local economy, Randgold CE Dr Mark Bristow...
1st August 2014
 
 
MINING RISKS

Access to water, electricity key risk for local mining and metals companies

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EY Africa mining and metals sector leader Wickus Botha Although productivity has been identified as the top business risk facing mining and metals companies globally in advisory firm EY’s ‘Business risks facing mining and metals 2014/15’ report, access to water and electricity – a new entrant,...
1st August 2014
 
 
STEEL

O’Flaherty outlines ‘production first’ strategy for steel group Video Available

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ArcelorMittal South Africa CEO Paul O’Flaherty Newly appointed ArcelorMittal South Africa (AMSA) CEO Paul O’Flaherty delivered an unambiguous ‘production first’ message in his inaugural interaction with the investment community on Friday, saying his management team was committed to...
1st August 2014
 
 
STEEL PROJECTS

AMSA to take $20m knock on Newcastle delay

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Steel producer ArcelorMittal South Africa (AMSA) has confirmed that the reline project at its Newcastle mill, in KwaZulu-Natal, has hit snags and that the project, which was initially expected to be completed four months after the May 12 shutdown...
1st August 2014
 
 
IRON-OR

ArcelorMittal to buy stake in Guinea iron-ore project

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ArcelorMittal, the world's largest steelmaker, said on Friday it had signed deals to purchase stakes in an iron ore project in Guinea as it pushes to raise its mining output and leverage its existing presence in the region. ArcelorMittal said in a...
1st August 2014
 
 
MERGERS & ACQUISITIONS

Sentula’s Benicon Coal disposal terminated, chairperson resigns

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The sale of Sentula Mining subsidiary Benicon Coal to Miranda Mineral Holdings has fallen through after certain conditions were not met in time. Sentula on Friday announced that it remained committed to shedding the asset and had entered into...
1st August 2014
 
 
RAIL

Bollore, Pan-African Minerals ink $895m Côte d'Ivoire, Burkina Faso rail link

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French conglomerate Bollore and Pan-African Minerals signed a memorandum of understanding on Thursday on a rail project worth $895-million, linking Abidjan in Côte d'Ivoire to the Burkina Faso manganese deposit at Tambao. The governments of Côte...
1st August 2014
 
 
CORPORATE ACTIVITY

Trading halts remain as Continental moves to raise A$35m

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As South Africa-focused thermal coal producer Continental Coal progressed a A$35.1-million rights issue and a recapitalisation plan, a proposed listing on the JSE has been postponed and trading halts on the Aim and ASX remained firmly in place....
1st August 2014
 
 
FINANCE

Kenmare amends Moma financing terms, Absa loan date extended

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London-listed Kenmare Resources has amended the terms of the project financing for its Moma mine, in Mozambique, and negotiated an extension of the repayment date of its $20-million loan from Absa, allowing it to conserve cash and have greater...
1st August 2014
 
 
GOLD

Mali cancels 130 mining permits after sector audit

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Mali has cancelled 130 mining permits, about 30% of existing permits in the gold-producing West African nation, in a drive to clean up the sector, a mines ministry official said on Thursday. The new government said in September that it will carry...
1st August 2014
 
 
SHALE GAS

Aus states, territories convinced hydraulic fracturing a viable option

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While Australia is estimated to host more than 800-trillion cubic feet of gas resources, the rapidly expanding gas industry is facing a significant battle in exploiting some of these resources. During the three months to March, Australian gas...
1st August 2014
 
 
IRON-ORE

Vale tells analysts to end fixation on China, iron-ore price

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Analysts following Brazil's Vale should stop obsessing over iron-ore prices and Chinese demand to focus instead on the company's other divisions and cost cuts, one of the miner's top executives said on Thursday. Jose Carlos Martins, head of...
1st August 2014
 
 
 
 
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Underground coal gasification has key... Audio
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