Monthly Archives: June 2016

Sibanye to invest $250 million

Sibanye Gold, the biggest producer of the precious metal in South Africa,said Wednesday it plans to spend $250 million (R3.9 billion) this year boosting infrastructure at most of its assets.     Read more….


Sibanye to invest $250 million in its gold mines, keeps shopping for new assets

Anglo shareholders revolt

Anglo American shareholders have rejected the miner’s pay policies in the last of several objections to hefty rewards for UK executives.

A trio of investor advisory groups had urged Anglo’s investors to reject chief executive Mark Cutifani’s pay at the annual meeting Thursday. Anglo’s boss was awarded a $4.9 million (£3.4m) pay package last year, when the firm was among UK’s worst-performing stocks.   Read more….

Protests outside De Beers’ Venetia mine block roads

Residents of Blouberg and former employees of Venetia Mine, owned by De Beers, on Monday protested outside the open pit mine demanding that workers be given shares in the company. The protesters, who said they want to discuss with mine management issues relating to “Ponagalo shares and trust funds”, blocked roads in Alldays, Limpopo, that lead to the mine.

De Beers moving out of historic London HQ

De Beers, the world’s largest supplier of diamonds by value, will be leaving its historic headquarters in London, parent company Anglo American (LON:AAL) has informed.

In an internal memo sent Friday, Anglo told De Beers staff they will have to leave the offices in Charterhouse St. and join the rest of the group at the Carlton House Terrace offices, also in London,Bloomberg reports. Read more….

Canada’s mining industry backs national carbon price

Canada’s largest mining companies have endorsed the federal government’s effort to establish a national price on carbon pollution, publishing Wednesday a series of principles local miners believe should be part of a national policy on climate change.  Read more

Canada’s mining industry backs national carbon price

Sibanye eyes more platinum acquisitions

Sibanye Gold aims to show its faith in platinum with further acquisitions while looking to benefit from a broader commodities revival by strengthening its portfolio of gold, base metals and coal assets. The South African company bought Anglo American Platinum’s (Amplats) Rustenburg mines in September for R4.5-billion ($287-million) and forked out $294-million for Aquarius Platinum a month later, expanding in a sector damaged in 2014 by a record five-month stoppage that dented Amplats’ profits.

Read more

Commodity slump pushes Africa back into IMF’s embrace

Commodity slump – Falling commodity prices have pushed several African countries back into the embrace of the International Monetary Fund (IMF), which has an opportunity to push for reforms and inject transparency into opaque economies.  Read more

Spill at Teck’s plant in Canada now contained, no risks to human health

Shares in Teck Resources (TSX: TCK.B) (NYSE:TCK), Canada’s largest diversified miner, were trading moderately lower Thursday after the company confirmed a spill of metal-contaminated water at its Trail smelting and refining plant in British Columbia.

The stock was down 0.37% $8.52 in New York at 9:39 am, but it has had an amazing 2016 so far — it has climbed almost 120% since January.  Read more

Teck shares slide after contaminated water spilled at Canada plant

SA could learn from Ghana Gold Fields collaboration

The government of Ghana is collaborating with South African gold mining company Gold Fields by providing fiscal relief to keep it’s mines going in the country where there is no weaker currency respite.  Read more

NUM to decide whether to return to work at Northam

Members of South Africa’s National Union of Mineworkers (NUM) will decide on Wednesday if they will return to work at Northam Platinum’s Zondereinde mine, which was shut on Monday after violent clashes between NUM and a rival union.

Read  more