Orion confirms it’s raising A$8m for BEE restructure

Orion Minerals [JSE:ORN] on Monday confirmed that it was raising A$8m in capital as part of a broader Black Empowerment Equity restructuring process. This would ensure the company was compliant with the Mining Charter, and was “likely to be underpinned by a group of high-profile black South African investors as part of a broader restructuring of the Company’s Black Empowerment Equity at operating level”, Chairperson Denis Waddell said in a statement on Monday The capital would be raised at an issue price of A$0.04 per share – a 30% premium…

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Rio Tinto approves R6.5bn investment into Richards Bay Minerals

KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala has welcomed the R6.5 billion planned investment into Richards Bay Minerals (RBM). Rio Tinto, an international holding company for RBM, has approved the next stage in the development of RBM in South Africa, which will involve the construction of the Zulti South project that will sustain current capacity and also extend mine life. Zikalala said it was encouraging that more and more business organisations such as RBM continue to express their commitment to the growth of the provincial economy. “The…

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OSBORN EQUIPMENT SHINES AT PETRA’S CULLINAN MINE

Mining and quarrying equipment specialist Osborn has secured a significant order from Petra Diamonds, for an apron feeder that will be employed at the diamond mining group’s renowned Cullinan Diamond Mine in Gauteng. This is the latest in numerous orders awarded to Osborn over many years by long standing customer Petra Diamonds, reveals East Africa area manager Chris Slade. “We are very proud that Petra Diamonds has once again trusted its equipment needs to Osborn. This order for an Osborn D6C 1 500 x 6 000 apron feeder reflects the growing global…

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Rio Tinto announces R6.5bn mine development in KZN

The global mining group Rio Tinto has announced a R6.5bn ($463m) investment in its mineral sands business in Kwa-Zulu Natal. The company announced on Monday that the investment would sustain the capacity of Richards Bay Minerals (RBM) by developing a new mine called Zulti South. RBM produces predominantly rutile, zircon, titania slag and high purity iron. Rio Tinto has held a 74% stake in RBM since 2012 and manages the operation. Jean-Sébastien Jacques, Rio Tinto’s chief executive, said in a statement that the group has a long history in South…

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The DRC and China’s Sicomines: why future deals should be different

  It was confidently billed at the time as the “deal of the century”. The Sino Congolaise des Mines (Sicomines) was the most significant Chinese investment project in Africa when it was agreed in 2007. The infrastructure agreement gave Chinese partners mining rights to cobalt and copper in the Democratic Republic of Congo (DRC). These minerals are used in electric vehicle batteries and electronics, including smartphones and laptops. In exchange, China agreed to build much-needed infrastructure projects such as urban roads, highways and hospitals. In addition to new infrastructure, the Sicomines…

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Rand-Air’s TwinPower generators do mines a ‘power’ of good!

Fundamental to Rand-Air is the ethos of ultimate customer convenience. To this end, Rand-Air has purchased four Atlas Copco TwinPower generators, the benefit of this arrangement being that there are two 550 kVA generators in each container. This containerised generator solution gives a very compact footprint, unrivalled versatility, optimised performance and excellent fuel economy in demanding modular power plant (MPP) applications. In addition, the two modules inside the container can be synchronised so that it is possible to supply either 1100 kVA or 550 kVA – a versatile and portable…

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Bell Tolls for Gold Mine That Once Powered South African Economy

The final demise of South Africa’s gold industry came a step nearer on Wednesday with the announcement that Sibanye Gold Ltd. won’t extend the life of Driefontein, once the biggest mine on the continent. Last year the mine, more than 2 miles (3,200 meters) deep, produced about 300,000 ounces of gold, just a fifth of its peak output two decades ago. Now Sibanye will wind down Driefontein’s operations within 10 years, with plans to cut thousands of jobs as it shuts unprofitable shafts. Driefontein gold mine. Photographer: John Liebenberg/Bloomberg South…

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Energy price rises may cost 90000 Mining Jobs

JOHANNESBURG –The minerals Council South Africa yesterday warned that the National Energy Regulator of South Africa (Nersa) Multi-Year Price Determination Period four (MYPD4) tariff increases granted to Eskom would place more than 90000 mining jobs on the line. “In total, as many as 90222 jobs would be at risk, solely as a result of the Multi-Year Price Determination Period four tariff increases granted to Eskom. This figure excludes existing sector-specific challenges,” the Minerals Council said yesterday. High input costs and volatile metal prices have contributed to the closure of a…

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Kwikspace places first operational buildings for Mpumalanga mine

Kwikspace was contracted to manufacture, supply and erect 10 mobile units to for use at a new mine in Mpumalanga. Consisting of four single-wide and six double-wide prefabricated modular units, they were the first operational buildings to be placed on site. All units, which provide structures for four different applications on the mine, were completed and handed over during 2018, within a specified three-month timeline. One double-wide unit (7 x 7 m) is used as the induction office located near the entrance and five of them make up the site…

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Electricity price rises will devastate gold sector, Sibanye warns

Sibanye is already considering cutting more than 6,000 jobs at unprofitable gold shafts amid a four-month wage strike by thousands of workers Sibanye-Stillwater says the double-digit electricity price increase undermines the viability of the country’s gold industry. The power regulator on Thursday approved an effective 13.8% hike in tariffs by state-owned utility Eskom. That’s higher than the 9% increase planned for by Sibanye, said James Wellsted, a spokesperson for SA’s biggest gold producer. “These kind of increases, well above inflation, pose a risk to the sustainability of the industry and to job…

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