Author: Mpinane Senkhane

Zambian acting President approves new mining tax law

Guy Scott, Zambia’s acting President has approved changes to Zambia’s mine tax regime which requires firms to pay more taxes, the Zambia Daily Mail reported. The Act  The Mines and Minerals Development Act indicates that as of the 1st of January 2015, Zambia will have a new mining tax regime, notwithstanding the operational and job cuts by mining firms.  The new tax regime has seen increase in mineral royalty taxes from six to eight percent for underground mines and to 20 percent for open pit mines. The Mines and Minerals Act of 2014 substitutes the Mines and Minerals Act of...

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Monumental losses for top SA platinum producers

The five-month wage strike in the platinum sector caused tremendous losses for the industry last year. It is estimated that together, Lonmin, Implats and Amplats lost a sum of R24.1bn during the strike – and although workers returned to their posts on the 26th of June, a return to full production was not immediate. In November  Lonmin, the world’s third largest platinum producer, indicated the strike cost them 391 000 saleable ounces over the last financial year. While revenue was at R10.84bn, the company made an operational loss of R2.86bn against a profit of R1.65bn in 2013. Just as...

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The future of mining – part 2

The future of mining part one continued… Mechanical Blasting CEO of electronic detonation systems supplier, DetNet, Gys Landman discussed the automation and advancements in mechanical blasting in the mining industry. He said that blasting was particularly energy efficient, adding that it was a preferred system in big rock breaking. Digitising and exploiting blasting information counts among the advancements made in blasting operations at mines. He noted that other steps in the industry could be looking into more user-friendly blasting technology and integrated processes. Conveying vs trucking In-pit crushing and conveying is a more efficient alternative to conventional methods of...

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The future of mining – part 1

This year, The University of the Witwatersrand’s School of Mining Engineering hosted a mining industry forum, with a focus on the application of technology in mining. The two-day forum was co-hosted by mining engineering group, Sandvik Mining, and presented a platform for a range of technology specialists to engage fellow mining peers and the media on the latest technologies and best practice applied to the mining industry. Topical highlights in the two-day conference included: Technology in harsh environments Professor Fred Cawood stated that making technology work in harsh underground environments would be the challenge in the mining industry over...

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Precious discovery in northern Waterberg

The Waterberg, located in Limpopo has emerged as one of the world’s largest undeveloped palladium discoveries. As of September 2014 the combined source stood at 29 million ounces 4E of which 17.74 million ounces are palladium, 61% of the inferred resource. The Project Platinum Group announced a positive independent preliminary economic assessment (PEA) on the Waterberg Joint Venture project completed by engineering firm WorleyParsons. Based on the PEA, first production is planned for 2018 – the project is modeled to produce 397 000 ounces of palladium per year with a 20 year plus mine life, along with platinum, gold, rhodium...

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