Monthly Archives: May 2016
Canadian diamond mines
Construction of two Canadian diamond mines, De Beers and Mountain Province’s Gahcho Kué, in the Northwest Territory, and Stornoway Diamond Corp’s Renard project, in Quebec, are progressing fast, with both projects being either on target or ahead of schedule.
Job Cuts
Sibanye last year said it would buy Anglo American Platinum’s labour-intensive and costly Rustenburg mines and Aquarius Platinum .
Both transactions were approved by the Competition Commission, which investigates deals for any anti-trust issues, on condition that no jobs would be lost and the firms would keep the black empowerment policy to protect small businesses. Read more…
Global nuclear energy
Mapping the transformation of global nuclear energy – A recent report by the World Nuclear Association estimates global nuclear power generation capacity should grow by more than 45% over the next 20 years. The association’s bi-annual 2015 Nuclear Fuel report forecasts global nuclear capacity will grow to 552 gigawatts equivalent (GWe) by 2035 from 379 GWe or roughly 11% of world electricity supply at the moment. Read more…..
Environmental infractions
Chile’s environmental watchdog has pressed charges against Sierra Gorda SCM, firm jointly owned by Poland’s KGHM Polska Miedz and Japan’s Sumitomo Metal Mining, saying it was found guilty of committing nine environmental infractions. Read more
Mine Closure
Because most mining majors are steering clear of giving their mining assets away at fire sale prices, the expectation is growing that care-and-maintenance closure options may take centre-stage. As things stand, for-sale notices are ubiquitous, with the likes of Anglo American, Freeport-McMoRan, Vale, Rio Tinto, BHP Billiton and Glencore continuing along the asset-disposal road. Read more
Lily mine
Vantage Goldfields on Thursday announced at a media briefing that it would use a new and safer entrance route to approach the container, where three miners have been trapped underground for over a month at its Mpumalanga-based Lily mine. Read more….
Mine Fatalities
This year has seen 15 mining-related deaths to date, up 36% from the 11 fatalities recorded between January 1 and March 7, 2015, according to Department of Mineral Resources Mpumalanga principal mines inspector Elliot Letsoko. Read more….
Wildfire forces state of emergency, evacuation in Fort McMurray
A wildfire near Fort McMurray, the heart of Canada’s oil sand production, has prompted evacuation orders in some communities as officials have declared a local state of emergency.
As of Sunday night, the fire west of Gregoire covered more than 120 hectares, according to officials with Alberta’s Agriculture and Forestry Department. Read more…
Anglo American
Anglo American’s Cutifani on way forward
After weeks of speculation, battered mining giant Anglo American (LON:AAL) has finally revealed details of its radical “portfolio restructuring,”announced in December, in response to a global rout in commodity prices that punished the costly mines the company operates around the world.
Anglo’s plans, unveiled at the same time it posted a jaw-dropping $5.6 billion full-year loss in 2015, includes completely exiting the coal sector by selling its remaining operations in Australia, South Africa and Colombia.