Miners in Zimbabwe told to pay for power using foreign currency

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MINING firms in Zimbabwe have been told to pay for electricity using foreign currency, said Bloomberg News citing the southern African country’s energy minister, Fortune Chasi. However, mining companies can make their own arrangements to import foreign power, the minister said. “The purpose of the structure is to ensure mining entities have sufficient power,” said… Read More

Barrick’s Kibali on target for 750,000 oz gold output in 2019

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BARRICK Gold said its Democratic Republic of Congo (DRC) gold mine, Kibali, which it owns in joint venture with AngloGold Ashanti, was on course for production of 750,000 ounces in the current financial year. However, Barrick CEO, Mark Bristow, continued to express concern about the newly promulgated DRC mining code which he said would put… Read More

Digging for legitimacy: The case for good ESG in mining

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ENVIRONMENTAL and social governance (ESG) has, for a long time, been a woolly issue for the mining industry. Chiefly because there were no hard and fast rules on how to implement ESG policies, nor any penalties for failing to do so, many mining companies felt they could legitimately ignore calls to ensure their operations were ethical… Read More

Zimbabwe’s platinum miners wary as black market traders threaten to intensify currency crisis

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CONDITIONS for mining companies in Zimbabwe have improved materially since the new government headed by President Emmerson Mnangagwa came to power, but there are three key issues the country’s miners are still uneasy about. Two of those involve getting the reforms announced publicly by government; in particular, the dropping of the 51% indigenisation ownership requirement… Read More

Khulubuse Zuma due back in court to face rap for Aurora role in Grootvlei abuses

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KHULUBUSE Zuma, nephew of former South African president, Jacob Zuma, is due back in court today on charges of causing environmental damage at Grootvlei, a mine Zuma owned through company, Aurora Empowerment Systems. Aurora’s ex-managing director Zondwa Mandela, late president Nelson Mandela’s grandson, and former executive directors Thulani Ngubane and Raja Zainal Alam Shah also… Read More