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LABOUR

Informal sector job losses weigh on Q1 employment

An extensive loss of jobs in the informal sector led to a 0.6% expansion in unemployment to 25.2% during the first quarter of 2014, as the number of unemployed increased 4.9% quarter-on-quarter, the latest Statistics South Africa (Stats SA)...
5th May 2014
 
ESKOM

No finality on Eskom ‘support’, but DPE confirms immediate R25bn shortfall

Department of Public Enterprises (DPE) director-general Tshediso Matona confirms that the interdepartmental task team established to find a solution to Eskom’s financial problems has agreed that further support will be required. However, he says...
24th April 2014
 
SA MINING

SA mining companies have highest level of female board representation – PwC

South Africa’s mining companies have the highest level of female representation at board level, followed by Canada, while Australia has the lowest percentage of women in executive management positions in the industry, a recent report by...
10th April 2014
 
COPPER

Copper price expected to fall, possibly test $6 000/t as supply surges – GFMS

The global copper market is expected to post a moderate surplus this year, which will result in copper prices remaining under pressure, the fifth instalment of Thomson Reuters’ ‘GFMS Copper Survey 2014’ has found. The average yearly price...
8th April 2014
 
PROXY BATTLE

Clarke Inc proposes three Sherritt board nominees

In its attempt to shake up the board of diversified miner Sherritt International, Halifax-based investment firm Clarke Inc on Thursday named its three nominees for election to the Sherritt board at the Toronto-based mining company’s annual and...
3rd April 2014
 
MINING FINANCE

Roy Hill gets $7.2bn funding package

Mining personality Gina Reinhart has secured a $7.2-billion funding package for the Roy Hill iron-ore mine, in Western Australia. The debt package, which completes the funding for the $10-billion project, comprises loans and guarantees from five...
21st March 2014
 
METALS STREAMING

Franco-Nevada lifts dividend despite wider Q4 loss

Alternative finance provider Franco-Nevada Corp late on Wednesday announced that it had changed its monthly dividend policy to once a quarter in an attempt reduce the foreign exchange exposure to shareholders. As a result of the change, the...
20th March 2014
 
POTASH

Premier locks in first-buy option for Danakil play

Aim-listed Premier African Minerals has entered into an option agreement with Toronto-listed AgriMinco, granting the multicommodity natural resources group the exclusive option to buy AgriMinco's 30% interest in the Danakil potash project, in...
20th March 2014
 
MINING FINANCE

Australia’s EFIC grants loan for Escondida expansion

Australia’s Export Finance and Insurance Corporation (EFIC) has granted mining giants BHP Billiton and Rio Tinto a $100-million loan for the Escondida mine, in Chile. The loan will help finance Escondida’s organic growth 1 project, which...
18th March 2014
 
M&A

Nedbank appoints principal to focus on mining M&A in Africa

Nedbank Capital's Haaris Zafar Nedbank Capital, the investment banking business of the Nedbank Group, has appointed Haaris Zafar principal for mining merger and acquisition (M&A) activity in Africa. The company said in a statement on Monday that Zafar, based at Nedbank’s...
3rd March 2014
 
Mining Personality

Francois Hay

Main Activity of the Company: Manufacturing and supply of explosives and accessories to the mining and quarrying industries including electronic detonators and blasting software Date and Place of Birth: March 23, 1970, Port Elizabeth Education:...
28th February 2014
 
Exploration

Infrastructure a burning issue in Ontario’s remote Ring of Fire

In Ontario’s Far North, the mineral reserve dubbed the Ring of Fire has been hailed as one of the most promising mineral developments in the province in almost a century, with the largest deposit of chromite ever discovered in North America....
28th February 2014
 
 
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