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Kumba revenue up on rand weakness, dividend maintained

The operational profit of JSE-listed Kumba Iron Ore fell 14% in the six months to June 30 on lower exports and the cost of increased mining activities. But revenue was up mainly on currency weakness and Kumba maintained its interim cash dividend...
22nd July 2014

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

Indian steel producers seek rollback of import duty on coking coal

Indian steel producers were imploring the government to roll back the 2.5% duty imposed on imported coking coal. Leading domestic steel companies would make a concerted effort to approach the federal Finance Ministry seeking a scrapping of the...
22nd July 2014
Breaking News

Creamer Media publishes Real Economy Insight: Gold 2014 research report

This four-page brief covers key developments in the gold industry over the past 12 months. The report provides an overview of the global and South African gold markets, including perceptions of the gold industry in South Africa, industrial...
22nd July 2014

Ivanhoe Mines mourns passing of director

TSX-listed Ivanhoe on Monday reported that a member of its board, Dr Rilwanu Lukman, had passed away. “We are deeply saddened to hear of the loss of Lukman, who was respected as one of Africa's most accomplished and internationally recognised...
21st July 2014

Indian chamber opposes hike in mineral royalty rate

Indian industry representative body, the Associated Chamber of Commerce and Industry (Assocham), has opposed government’s move to hike royalty rates to 15% from 10% at present. Assocham has claimed that an increase in royalty rates would be...
21st July 2014
Company Announcement

Will Mining Disappear in the next decade? PDF Available

A piece of recent media coverage suggested that with the global mining industry in decline over the last twenty years, this might signal the complete degeneration of the industry by 2024! WRS, a recruitment specialist for the industry sees some...
21st July 2014
Breaking News

Creamer Media publishes Real Economy Insight: Coal 2014 research report

This four-page brief covers key developments in the coal industry over the past 12 months, including details of demand and logistics, as well as prospects for the sector.
21st July 2014
Mining Services

Cost-saving hydraulic hose introduced onto local market

Local hydraulics solutions provider Genflex Hydraulics has introduced the Spiral Guard range of hydraulic hose protection to its product portfolio for South Africa’s mining industry, and other industries that apply hydraulic solutions. The...
18th July 2014

Western Bushveld joint venture Project 1, South Africa Restricted

Platinum Group Metals (PTM) has stated that a prolonged strike in South Africa’s metals and engineering sector could halt or delay the construction of PTM’s Western Bushveld joint venture project.
18th July 2014

Fortescue says sees more China iron ore mines closing

Fortescue Metals Group Ltd , Australia's third-biggest iron ore producer, said on Wednesday the closure of more Chinese domestic iron ore production is inevitable, helping the market to rebalance. Fortescue also said increases in the quality of...
16th July 2014

Russia's Severstal sells US-based PBS Coals to Corsa Coal

Russia's Severstal has agreed to sell Pennsylvania-based metallurgical coal producer PBS Coals to Canada's Corsa Coal for an enterprise value of $140-million, the Russian company said on Tuesday. Corsa Coal operates US-based coal mines. Its...
16th July 2014
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