Monthly Archives: June 2016 - Page 2

AMCU accepts Sibanye Gold new wage offer

JOHANNESBURG – South Africa’s Association of Mineworkers and Construction Union (AMCU) said on Sunday it had agreed to take a new wage offer from mining company Sibanye Gold.  Read more…

Dubai firm to establish largest asset in South Africa

Dubai-based Centaur Group has completed the acquisition of two South African coal prospecting rights near Ermelo and is preparing to develop it into the global investment holding company’s largest single asset. Read more

Malaysia extends bauxite mining ban until July

Malaysia is extending its ban on bauxite mining by another three months, effective April 15, in order to clear stockpiles and curb air and water pollution caused by the sector in the past two years, the environment minister said on Friday.  Read more….

Malaysia extends bauxite mining ban until July to fight pollution

Canada unveils final anti-corruption law for the extractive sector

Canada has released a final version of its rules governing extractive sector transparency, which forces all publicly listed local miners to report payments including taxes, royalties, fees and production entitlements of $100,000 or more to governments both home and abroad.   Read more

Canada unveils final anti-corruption law for the extractive sector

BHP more than triples Brazilian staff in light of Samarco disaster

Mining giant BHP Billiton (ASX:BHP) has more than tripled its staffing in Brazil as the company readies to restart operations at the now halted iron ore mine it owns with Brazil Vale (NYSE:VALE), which suffered a fatal accident in November. Read more

BHP more than triples Brazilian staff in light of Samarco disaster

Urgent probe for Zimplats after Panama Paper leak

HARARE – Impala Platinum and government officials in Zimbabwe will probe the alleged involvement of the company’s Zimplats unit after leaked papers showed it used an offshore company to pay salaries of management in Zimbabwe.  Read more

Landslide at jade mine in Myanmar leaves at least 13 dead

At least 13 dead after landslide at jade mine in Myanmar

At least 13 people have been confirmed dead and dozens are missing after a landslide at a jade mine in Myanmar’s Hpakant, in the country’s Kachin state, the heart of the country’s lucrative greenstone industry.

Deadly accidents are, unfortunately, not unusual in Hpakant, where as much as 90% of the world’s jade is mined, AP reports.  Read more

Receding Arctic ice unlocking fathomless mineral resources

While the melting of the Arctic is bad news for everyone, mining companies may be able to find the positive side of such grim news, as the situation  could open up access to immense mineral reserves and attract billions of dollars in investment.  Read more

South Africa avoids junk in June

Ratings agency S&P Global Ratings announced on Friday evening that it had decided to affirm its long- and short-term ‘BBB-/A-3’ foreign currency and ‘BBB+/A-2’ local currency sovereign credit ratings on the Republic of South Africa. The much-anticipated decision meant that Africa’s most developed, but also one of the its slowest growing economies, had avoided being downgraded to a subinvestment-grade, or junk, status.

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Wage strike

“SA’s Association of Mineworkers and Construction Union said….. it had suspended a planned
wage strike at Sibanye Gold to allow for further talks, buoying the
firm’s shares.

AMCU said ….. it would launch an indefinite strike at the bullion producer to demand higher wages.”

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