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GOLD

Gold, diamonds feed Central African religious violence

Three young rebels, their AK47s propped against wooden stools in the afternoon heat, guard the entrance to the giant Ndassima gold mine carved deep into a forested hilltop in Central African Republic. Sat in a thatched shack at the edge of a muddy...
29th July 2014
 
COAL

India’s Coal Ministry to overhaul coal block auction policy

India’s Coal Ministry is working to overhaul the coal block auction policy to overcome a lack of interest from prospective bidders. According to an official involved in the rejig, one of the proposals tabled was securing all mandatory approvals...
29th July 2014
 
COAL

CIL plans price hike to offset burden of clean energy cess

Indian major Coal India Limited (CIL) was planning to hike its prices for domestic supplies within the next month. According to a company official, the CIL board of directors would be meeting in August to finalise the quantum of price hike to be...
29th July 2014
 
COAL

Exxaro to acquire Total’s South African coal mines for $472m

Black-controlled mining company Exxaro is to acquire the South African coal mines of French petroleum giant Total to create 100% black-owned coal assets. The JSE-listed Exxaro, headed by CEO Sipho Nkosi, has entered into a binding sale and...
28th July 2014
 
COAL

Environment Minister approves A$16.5bn Carmichael coal project

Federal Environment Minister Greg Hunt has approved the A$16.5-billion Carmichael coal mine and rail project, in Queensland. India’s Adani Mining would develop an opencut and underground mine, which is expected to produce about 60-million...
28th July 2014
 
COAL

India sets target for captive coal mining production

India’s Coal Ministry has set a captive coal production target of 68-million tonnes during 2014/15 from all blocks allocated to various companies for own fuel use. According to a Coal Ministry circular, “the production target has been set and...
28th July 2014
 
ZINC

India govt approves stake sale in Hindustan Zinc, BALCO

India's new government has approved the sale of its residual stakes in Hindustan Zinc Ltd and Bharat Aluminium Co (BALCO), Finance Minister Arun Jaitley said on Friday. The government owns 29.5% of Hindustan Zinc and 49 percent of BALCO. Both the...
25th July 2014
 
Coal

Rio Tinto reportedly selling Moz coal asset to Indian company

It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze...
25th July 2014
 
Ferrous Metals

Infrastructure capacity needed to maintain iron-ore advantage

POSITIVE OUTLOOK
EY South Africa believes the outlook for the South African iron-ore industry is positive, despite commodity-price decreases
While the drop in the iron-ore price to below $100/t in the last month has influenced global iron-ore mining majors to consider mothballing some of their mines, South Africa’s iron-ore mining industry has not been affected by the significantly...
25th July 2014
 
Ferrous Metals

Pig-iron developer to start mining in Q3

PRODUCT PRODUCTION
Veremo aims to start first production at an existing smelter in Mogale in early 2015
Iron-developer Veremo Holdings aims to start production at its Mpumalanga-based Veremo pig iron, heavy minerals and titanium project in the third quarter of this year, director Alistair Ruiters tells Mining Weekly. “Since the mining rights were...
25th July 2014
 
COAL

Peabody Energy’s Q2 revenue, loss beat Wall Street expectations

A surprise improvement in coal miner Peabody Energy’s revenue for the three months ended June helped it post a loss a share on Tuesday that beat the average estimate of 22 Wall Street analysts. The NYSE-listed miner, with operations in the US...
22nd July 2014
 
COAL

Mozambique trying to ease coal companies' pain, but no tax breaks

Mozambique is discussing with its foreign coal mining partners ways to help them ride out depressed markets but will not be offering special tax breaks to ease the pain, its mineral resources minister said on Monday. Esperanca Bias told Reuters...
22nd July 2014
 
 
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