Eskom to lay criminal charges for coal contract with Tegeta Exploration

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ESKOM, the South African government-owned power utility, has laid criminal charges against Tegeta Exploration & Resources regarding a corrupt coal contract, said BusinessLive citing the comments of the utility’s chairman, Jabu Mabuza. Mabuza was appearing before the state capture commission of inquiry when he made this remark. “Some [action] will continue, some land in the area of… Read More

Anglo’s Cutifani asked Ramaphosa to lend weight to new tripartite compact with SA

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ADVANCES in South Africa’s mining regulatory and policy environment have been widely acknowledged, especially at this year’s Mining Indaba conference in Cape Town, demonstrated by the appearance of President Cyril Ramaphosa. His speech to the conference delivered a message of catharsis and redemption. For instance, the ‘Original Sin” of colonialism – the historical theft of… Read More

Barrick said to be considering $19bn swoop on Newmont Mining

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BARRICK Gold is reportedly considering a $19bn takeover of Newmont Mining, itself in the final stages of its takeover of Goldcorp, said Reuters citing an earlier report by the Globe and Mail, a Canadian publication. Newmont declined to comment when approached by Reuters. Barrick had not responded by the time Reuters filed the article. The… Read More

UPDATED: AMCU Issues 7-Day Strike Notices to Gold, Platinum Producers

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The Association of Mineworkers and Construction Union (AMCU) has issued seven-day strike notices to several gold and platinum companies in protest against Sibanye-Stillwater’s plans to cut up to 6,700 jobs in its struggling gold sector. Harmony Gold, Anglo American Platinum and Lonmin all confirmed on Thursday that they had received notices and Sibanye CEO Neal… Read More

Sibanye-Stillwater eyes battery metals potential as new hedge

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Precious metals producer Sibanye-Stillwater is not finished with its diversification drive, with CEO Neal Froneman signaling on Thursday that the group may enter the lithium and cobalt spaces regarded as critical to the emerging battery and electric vehicle markets. Froneman made the remarks during the presentation of the company’s annual results. As expected, the group’s… Read More

Endeavour scopes for first gold pour from Ity CIL by Q2

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CONSTRUCTION of Endeavour Mining’s carbon-in-leach (CIL) project at its Ity mine in Côte d’Ivoire was 97% complete, the Toronto-listed company said, adding that budget hadn’t been exceeded and it was tracking two months ahead of schedule. As part of the project remit, the resettlement of a local community had been completed whilst on the construction… Read More

AMCU Strike To Begin Feb 27 – Source

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The Association of Mineworkers and Construction Union (AMCU) has issued seven-day strike notices to AngloGold Ashanti and Harmony Gold with its members set to down tools Feb 27, two sources with knowledge of the matter have told MiningMX. AMCU on Tuesday called out members at its gold, coal and platinum mines on strike to protest… Read More

Minerals Council hopeful Eskom will withdraw 15% tariff application in wake of Mboweni’s R69bn Govt. subsidy

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A TAXPAYER funded R23bn annual subsidy to Eskom between now and 2021 may have the consequence of the government-owned utility withdrawing an application to hike electricity tariffs 15% a year for the next three years.   This was the Minerals Council’s key takeaway from finance minister Tito Mboweni’s 2019 national budget, delivered in Parliament today… Read More

South32 mulling 500 job cuts at Hillside aluminium, according to union Solidarity

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SOME 500 jobs could be cut at South Africa’s Hillside aluminium smelter owned by South32, said Reuters citing the views of trade union, Solidarity. Hillside aluminium currently provides 1,300 jobs. Solidarity said the Perth-headquartered company was looking at ways to reduce costs and contend with volatility in commodity markets. “The company indicated in its request to… Read More