Author: Mpinane Senkhane

Sibanye gets U.S. security nod to buy Stillwater mines

The U.S. cleared the sale of the country’s sole provider of platinum and palladium to a miner whose biggest investor is Chinese, providing the first indication that the Trump administration’s tough talk on China won’t necessarily translate into blocking Beijing-linked deals. Sibanye Gold Ltd.’s $2.2 billion deal to purchase Colorado-based Stillwater Mining Co. will go ahead after the companies received notice from the Committee on Foreign Investment in the U.S., known as CFIUS, that the tie-up posed no unresolved national security issues, Stillwater said Monday in a statement. Sibanye also confirmed the news. “We are obviously very pleased to have...

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Ethiopia: Ministry exerting efforts to leverage mining industry

Private companies are actively engaged in almost 99 percent of the mining industry, said the Ministry of Mines, Natural Gas and Petroleum. State Minister Tewodros Gebre Egziabher told The Ethiopian Herald that mining activities were mainly carried out by the governments previously but now private companies have become dominant in the industry. He emphasized that the mining industry has already shown progress in terms of its contribution to the national economy. He said, “Gold has been extensively mined and the country has been earning a great deal of hard currency over the last 15 years. The same is true...

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R10 billion unclaimed in mineworkers’ retirement funds

There is R10bn of unclaimed former mineworkers’ retirement benefits in various pension and provident funds, according to the Presidency. Some of these date back to the 1970s, it said in a statement on Wednesday, which highlighted some of the progress made under leadership of President Jacob Zuma who celebrated his 75th birthday on Wednesday. “The Financial Services Board is providing support to provident and pension fund administrators to identify former mineworkers who need to receive the pension and provident funds due to them some dating back to the 1970s.” The 1970s mineworkers’ provident and pension fund has already paid...

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Titanium plant will bring jobs

The mining industry on the KwaZulu-Natal north coast will get a R4.5 billion boost next year through the construction of a titanium processing plant in the Richards Bay industrial development zone. The R4.5 billion is made up of a R4 billion investment in the plant, plus up to R500 million that will be spent on roads and other infrastructure. The plant, a joint venture between New Zealand-based Avertana and Nyanza Light Metals, will create 550 permanent jobs. Another 1 200 direct and 800 indirect jobs will be created during the construction phase. Nyanza Light Metals is jointly owned by...

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Yaoure feasibility on track for 2015, says Amara

AIM-listed Amara Mining will unveil the feasibility study for its Yaoure gold project in the Ivory Coast in early 2015, it has announced in its Q1 2014 results. The preliminary economic assessment for the project has already been completed. Amara Mining executive chairman John McGloin commented that Yaoure was an exciting development, with compelling economics making it one of the few projects that remain resilient at low gold prices. In-fill drilling “We have commenced the in-fill drilling programme at Yaoure, that which will allow us to deliver two mineral resource updates in H2 2014 and an initial FS in...

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