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Africa
 
IRON-ORE

Lacklustre Chinese demand drives iron-ore prices to 5yr low

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Benchmark iron-ore prices, which had fallen by more than a third since the start of the year, last week breached the $90/t level and this week continued to spiral lower to 86.2/t on Monday, as a supply glut faces reduced demand growth from the...
2nd September 2014
 
 
LEGISLATIVE ENVIRONMENT

Mining’s legal framework replete with problems – Hulme Scholes

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Mining lawyer Hulme Scholes The legal frameworks for the South African mining industry are replete with problems, mining law expert Hulme Scholes outlined on Tuesday. Speaking at a client and media presentation organised by reputation management company Magna Carta, the...
2nd September 2014
 
 
GOLD

Kibo says near-term gold production possible from Imweru, mulls sale

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A full internal review of historic exploration data from mineral asset explorer and developer Kibo Mining’s flagship Imweru project, in Tanzania, has confirmed the potential viability of early gold production. The review had demonstrated that...
2nd September 2014
 
 
DIVERSISIFED MINERS

Petmin likely to maintain FY headline earnings despite impairments

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JSE-listed diversified miner Petmin said on Monday that, following a strong operational performance at the Somkhele coal mine – with revenue in excess of R1-billion for the first time and anthracite production exceeding one-million tons – it...
2nd September 2014
 
 
CONTRACT MINING & MATERIALS HANDLING

Troubled contract mining division eats into Eqstra profit

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Eqstra’s Contract Mining and Plant Rental division served as a heavy drag on the company’s results for the year ended June 30, released on Tuesday. Group revenue increased by 9.8%, to R10-billion, compared with the previous financial year,...
2nd September 2014
 
 
GOLD

Q4 recovery unable to salvage DRDGold’s Ergo-dented FY showing

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Despite a welcome but somewhat unforeseen production recovery by DRDGold in the fourth quarter of its 2014 financial year, the tailings retreatment specialist was unable to fully recover from the effect of the April shutdown of its Ergo processing...
2nd September 2014
 
 
IRON-ORE

Tawana appoints companies to conduct Mofe Creek PFS

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Iron-ore developer Tawana Resources has appointed mining and minerals design and development groups Tenova Mining and Minerals and Engenium to manage and coordinate the major design and logistics components of a prefeasibility study (PFS) for its...
2nd September 2014
 
 
APPOINTMENT

Ballard appoints new CEO

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Fuel cell products provider Ballard Power Systems has appointed Randall MacEwen as president and CEO, effective October 6, replacing John Sheridan, who is retiring after serving as the company’s president and CEO since 2006. Sheridan would...
2nd September 2014
 
 
IRON-ORE

Tsodilo defines 441Mt resource estimate at Botswana iron-ore play

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Toronto-listed Tsodilo Resources has defined a large inferred mineral resource estimate of 441-million tons with an average grade of 29.4% iron in Block 1 of its flagship Xaudum iron project, in north-west Botswana. The company believed this...
2nd September 2014
 
 
TANZANITE

Richland restructures Tanzanite Foundation in cost savings bid

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Amid an ongoing review of group operations, Richland Resources announced on Monday that subsidiary, the Tanzanite Foundation, which is responsible for tanzanite marketing and promotion, sightholder engagement and community and social relations...
2nd September 2014
 
 
GOLD

Azumah increases Wa reserve

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Gold developer Azumah Resources has reported a 45% increase in the ore reserve at its Wa mine, in Ghana, underpinning an initial mine life of seven years. The ASX-listed company on Tuesday reported that the project was estimated to host a Joint...
2nd September 2014
 
 
COPPER

Discovery raises cash to go underground

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Copper miner Discovery Metals Limited (DML) would raise up to A$25.7-million to develop its Zeta underground mine at the Boseto copper project, in Botswana. The miner announced its intention to undertake a two-for-one renounceable rights issue,...
2nd September 2014
 
 
 
 
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