How South Africa’s rural communities are getting a raw deal from mining

    Some of the most profitable South African mines are situated in the areas of the country that are home to traditional communities and are governed in terms of customary law. Many of these developments have led to the destruction of the natural environment. And mining activities have also disrupted local ways of life. For example, residential homes have been destroyed. In others, violence has erupted within communities leading to the deaths of people opposed to mining. On top of this communities rarely benefit from mining. Instead, they’re exposed to pollution and health risks as well as disruptions…

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Anglo American cuts diamond production goal as buyers balk

  Diversified miner Anglo American lowered its forecast for diamond production as demand from its customers slumped in the first half of the year. Anglo said its De Beers unit will now mine about 31 million carats this year compared with an earlier target of 31 million to 33 million carats. The company said it’s producing to match demand after “weaker trading conditions” this year. Key insights Diamond miners are facing a mini crisis as demand remains weak, while supply, especially for smaller and cheaper stones, is abundant. That’s put…

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Platinum giants eye Sibanye’s gold mining deal as wage yardstick

  South African platinum producers could use Sibanye Gold’s pay settlement with gold miners earlier this year as a benchmark in wage talks with labour unions, according to a person familiar with the matter. Following a five-month strike that was eventually declared illegal, Sibanye agreed to increase the pay of workers at its three gold mines by 5.5%. Sibanye’s agreement is viewed as a good proxy for what’s possible in the platinum industry as the cost structures are similar to deep-level gold mining, said the person, asking not to be…

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Implats plans to embark on $250m debt-to-equity swop

  JOHANNESBURG – Cash-flush Impala Platinum (Implats) yesterday announced plans to embark on a $250million (R3.48billion) debt-to-equity swop to bolster its balance sheet while making the most of the reprieve of surging metal prices and the weak exchange rate. Chief executive Nico Muller said the group was looking to redeem its convertible bond due in 2022 and ultimately introduce a dividend that was last paid in 2014. “The optimisation of Implats’ balance sheet through a reduction and restructuring of existing debt is a key pillar of Implats’ strategy to reposition…

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Amplats in new joint venture to accelerate development of battery technology

JOHANNESBURG  – Mining company Anglo American Platinum said on Monday it and Platinum Group Metals Ltd had launched a new venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium. “The possibility of creating additional demand for platinum and palladium in the battery technology space is an exciting development and of strategic importance to both parties,” Amplats said in a statement. “The new venture, Lion, has entered into an agreement with Florida International University to further advance a research programme that uses platinum and…

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OSBORN NETS SIGNIFICANT EXPORT ORDER TO TURKEY

Mining and quarrying equipment specialist Osborn has completed a significant export order for the first Osborn double toggle crusher supplied to Turkey.   This order, from new customer ETi Electrometallurgy, reflects the inroads that Astec Industries group company Osborn is making in the region, as well as Osborn’s growing global reputation as a supplier of robust, unrivalled equipment, says Astec’s regional sales manager Oguzhan Toprak. “Osborn has previously supplied Turkish operations with a complete coal crushing plant, screens and crushers. This latest order is for a 24” x 18” Osborn…

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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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