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Ramaphosa moves to revitalise mining, create certainty Ramaphosa moves to revitalise mining, create certainty
Published: 21 Sep 18
It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan speech on Friday. He said that following extensive consultation that involved industry players, communities, labour and government, the Cabinet had approved long-awaited revised Mining Charter, which will be gazetted next week.
Pacton receives regulatory approval to buy rest of Arrow
Published: 21 Sep 18
Canadian junior Pacton Gold hunting conglomerate-style gold in Australia’s Pilbara has received approval from the TSX Venture Exchange to buy the remaining 49% interest in Arrow Minerals. The transaction, announced last month, gives the company full ownership of a strategic landholding of 609 km2 in the Pilbara.
South32's Cerro Matoso mine wins appeal, will not pay damages South32's Cerro Matoso mine wins appeal, will not pay damages
Published: 21 Sep 18
Colombia's Cerro Matoso nickel mine, owned by Australian miner South32, will not be required to pay damages to indigenous and Afro-Colombian communities after winning an appeal in Colombia's constitutional court, a court spokesperson said on Thursday. The court had previously ruled that waste emissions seriously affected communities in Cordoba province, including community members who had been diagnosed with lung and heart problems. It also said that some residents had high levels of nickel in their blood and urine.
IDM's Red Mountain entering final enviro assessment stage
Published: 21 Sep 18
The Canadian Environmental Assessment Agency (CEA) has initiated the final stage of the Red Mountain gold project environmental assessment process, inviting public comment on the draft report and potential conditions that will be applied. The draft comment period runs until October 18, and a decision from the Environment and Climate Minister is expected in late 2018 or early 2019, Vancouver-based IDM Mining reported on Thursday.
Chinese steel mills chase iron-ore contracts with Brazil's Vale
Published: 21 Sep 18
Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron-ore ahead of winter steel output cuts, a boon for the main supplier of such grades of the commodity, Brazilian mining giant Vale. China, the world's biggest consumer of the steelmaking ingredient, needs higher-quality, less polluting grades of iron ore as it battles to clear its notoriously smoggy skies.
BHP's Spence copper mine in Chile partially closed following fire
Published: 21 Sep 18
Global miner BHP Billiton said on Thursday that a fire at its Spence copper mine in Chile had forced it to partially shut down operations. No one was injured in the fire, which has since been extinguished, the company said.
Continental Gold says three geologists killed in armed Colombia attack
Published: 21 Sep 18
Canadian miner Continental Gold said on Thursday three of its geologists were killed in northern Antioquia province in Colombia in an armed attack. Three others were also injured in the attack, a company spokesman told Reuters.
Goldman backs commodities as trade war fury now met with shrugs
Published: 21 Sep 18
Commodity bull Goldman Sachs Group says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in top economies remains strong, and consumers who’d put off purchases in recent months start buying again. Copper jumped. “This week the trade war was escalated and markets shrugged it off with copper rallying,” analysts including Jeffrey Currie said in a note received on Friday and dated Sept. 20. “The reason is the market has already factored in an extended standoff between the US and China.”
Gold bulls say bears should be nervous as metal's rout ebbs
Published: 21 Sep 18
Beleaguered gold bulls are finally getting a rest from this year’s sell-off, and some see encouraging signs for a turnaround in the metal. After falling for five straight months, the longest slump since 2013, gold is showing resilience, holding near $1 200 an ounce since late August and registering a small gain so far in September. The metal is getting support from signs of a sputtering rally in the greenback and indications – albeit tentative – of easing U.S. inflation pressures that could slow the Federal Reserve’s hand in raising interest rates beyond this month.
Africa needs to invest in fuel cell technology Africa needs to invest in fuel cell technology
Published: 21 Sep 18
Countries are recognising the value and future impact that fuel cells and hydrogen technologies will provide. Now is the time for Africa to join this global movement and invest in the fuel cell future, says Washington-based global advocacy organisation Fuel Cell and Hydrogen Energy Association communications and outreach director Jennifer Gangi. “Fuel cells generate electricity using an electrochemical reaction – not combustion. Aside from being efficient, reliable and quiet, fuel cells are rugged, so they can be sited in harsh terrain, extreme climates and rural areas without infrastructure to generate power for buildings, communication and mission critical equipment.”
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