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Mining Industry News

Canada-Nova Scotia Offshore Petroleum Board gets new chairperson

Posted July 31st 2015 at 7:10 pm

Onshore and offshore oil and gas industry veteran Roderick Keith MacLeod has been appointed as the new chairperson for the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB), which is responsible for the regulation of petroleum activities in the Nova Scotia offshore area. Canada’s Minister of Natural Resources Greg Rickford and Nova Scotia’s Minister of Energy Michel Samson made the announcement on Friday, after concluding an advertised competitive, joint federal and provincial government process, supported by the Privy Council Office.

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PotashCorp remains resolute to buy German rival, pares outlook

Posted July 31st 2015 at 4:35 pm

Canada’s Potash Corporation of Saskatchewan (PotashCorp) on Thursday reiterated its intentions to buy German rival K+S, saying it was prepared to make binding commitments to motivate its target’s management, which had so far rebuffed the unsolicited offer. PotashCorp president and CEO Jochen Tilk told analysts on a conference call to discuss the company’s second-quarter results that the two companies would bring together complementary assets with minimal overlap of operations and markets.

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Lower costs, higher sales lift Endeavour’s Q2 profit

Posted July 31st 2015 at 4:10 pm

West Africa-focused gold producer Endeavour Mining has increased its second-quarter profit on the back of sharply lower costs and record output, despite a lower average realised price for the yellow metal. The Vancouver-based company with four operating gold mines in Côte d’Ivoire, Ghana, Mali and Burkina Faso, on Thursday after market close reported net earnings of $33-million, resulting in earnings attributable to shareholders of $26.7-million, or $0.06 per share, compared with earnings of $40 000, or $0.00 per share for the comparable period in 2014. 

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‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

Posted July 31st 2015 at 2:40 pm

Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for used public infrastructure projects. The model, CEO Paul O’Flaherty revealed at the weekend, would be premised on an “efficient” cost of production, plus a reasonable, but capped, margin for the “good and bad times” – the JSE-listed company was expecting excessive global steel capacity, low global iron-ore prices and depressed steel markets to prevail for four the five years.

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Nevsun lowers 2015 guidance

Posted July 31st 2015 at 2:28 pm

TSX- and NYSE-listed Nevsun Resources on Friday revised its 2015 production guidance downwards to 140-million to 150-million pounds of copper owing to unplanned plant stoppages during the first half of the year. Output from the Vancouver-headquartered firm’s Bisha mine, in Eritrea, had been hit by multiple unplanned shutdowns as the mill broke down in the first quarter and experienced fuel shortages in the second quarter.

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South African gold mines see unions likely accepting pay offer

Posted July 31st 2015 at 2:08 pm

The leaders of South Africa’s biggest gold producers said it’s likely unions will accept an improved pay offer as the industry looks to avert a repeat of a strike that […]

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SA set for Operation Phakisa Mining Lab

Posted July 31st 2015 at 1:58 pm

Cabinet has approved plans to set up the Operation Phakisa Mining Lab, which will identify a set of concrete problems that are limiting the growth and developmental impact of the […]

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Advanced fire-rated cables

Posted July 31st 2015 at 1:48 pm

Advanced cables with the ability to maintain their integrity for up to two hours in fire condition have been introduced locally for fire alarm and emergency evacuation systems or wherever […]

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SocGen says miners' output costs have dropped more than expected

Posted July 31st 2015 at 1:35 pm

Miners' output costs have dropped more than industry consensus due to lower energy prices and weak emerging market currencies, a report by Societe Generale showed, suggesting metals prices have further to fall before miners are forced out of business. The prices of many metals are still around one third higher than the critical cost floor at which the top ten percent most expensive mining operations are losing money.

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Outotec strengthens its portfolio of gold processing technologies

Posted July 31st 2015 at 1:15 pm

Outotec has agreed to acquire the majority of the shares in Biomin South Africa Pty. Ltd. and certain assets from Biomin Technologies S.A. in Switzerland. With this acquisition Outotec gets […]

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SEW-EURODRIVE appoints new technical trainer

Posted July 31st 2015 at 1:03 pm

SEW – Eurodrive has announced the appointment of a new technical trainer at the company’s Johannesburg-based Drive Academy. Johan van Graan, who officially assumed responsibility for the post in mid-2015, […]

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CSMI short courses coming up

Posted July 31st 2015 at 12:28 pm

The Centre for Sustainability in Mining and Industry (CSMI) will once again be offering a range of insightful short courses from August – November 2015. Aimed at adding value to […]

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Zimbabwe to cut royalty fees levied on small gold mines

Posted July 31st 2015 at 11:14 am

Zimbabwe will reduce royalties levied on small-scale gold producers to 1 percent from 3 percent from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. […]

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Is your company equipped to handle political violence?

Posted July 31st 2015 at 9:40 am

Terrorism and political violence present unique challenges to any company with a global footprint. Understanding the human and commercial exposures is a key aspect of risk mitigation. Now in its […]

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And the nominees for engineering excellence are…

Posted July 31st 2015 at 9:32 am

The CESA Aon Engineering Excellence Awards are all set to take place on 12 August 2015 at Vodaworld in Midrand. Awards will be handed out in the following categories Engineering Excellence for projects […]

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Lonmin: victim of price falls and management wobbles

Posted July 31st 2015 at 9:20 am

Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and debatable management choices that […]

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Eleven things ultra-productive people do differently

Posted July 31st 2015 at 9:00 am

When it comes to productivity, we all face the same challenge – there are only 24 hours in a day.

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Should the hunter who killed Cecil really have to close his business?

Posted July 31st 2015 at 9:00 am

It appears that a week doesn't go by without a reputation-management disaster going viral on social media.

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Newmont evaluates increased output at Tanami

Posted July 31st 2015 at 7:22 am

Gold miner Newmont Mining will reach a decision on the possible expansion of its Tanami operation later this year. Newmont’s Asia Pacific leader Tom Palmer told the WA Mining Club this week that the company’s Full Potential programme had seen a 22% increase in production at Tanami, and reduced the project’s cost base by some 21% over the last 18 months.

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Kipoi debottlenecking to raise output to 32 500 t/y

Posted July 31st 2015 at 6:56 am

A study for the debottlenecking of the Kipoi solvent extraction and electrowinning (SX-EW) plant, in the Democratic Republic of Congo, has revealed that copper production could be increased from the nameplate capacity of 25 000 t/y to 32 500 t/y. Project owner Tiger Resources on Friday said the debottlenecking project, which would require a capital investment of some $25-million, could result in an average life-of-mine operating cost of $1.27/lb.

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