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Rio Tinto joins race for Teck's copper project stake - sources
Published: 14 Nov 18
LONDON – Rio Tinto is among parties making a final offer for a minority stake in Teck Resources' Quebrada Blanca copper mine expansion in northern Chile, a development worth $4.8-billion, two sources close to the matter said. The world's second largest mining company is eager to boost its copper assets, with the metal viewed in the industry as having one of the strongest outlooks. Existing reserves are dwindling and increased electrification means demand is likely to be strong.
Atlatsa, RPM progress Bokoni restructure plan
Published: 14 Nov 18
Rustenburg Platinum Mines (RPM) and Atlatsa have, throughout this year, continued to work towards the implementation of the 2017 Restructure Plan at the Bokoni mine. Atlatsa in July 2017 announced a two-phased restructure plan for the mine, which comprised a care and maintenance strategy for the mine and a financial restructure plan for Atlatsa and its subsidiaries.
Eskom highlights risk of further debt accumulation as it gears up to defend big hikes Eskom highlights risk of further debt accumulation as it gears up to defend big hikes
Published: 14 Nov 18
Debt-laden electricity utility Eskom is preparing for yet another bruising encounter with consumers in the coming months, during which it will seek to justify it latest R762-billion, three-year revenue application. If successful with its fourth multiyear price determination (MYPD4) application, Eskom would be entitled to implement three yearly tariff hikes of 15% for the 2019/20, 2020/21 and 2021/22 financial years. The outcome would be a rise in the standard tariff from 93.79c/kWh currently to 142.65c/kWh by the end of the tariff period.
Drilling delineates new corridor of mineralisation at Kamoa-Kakula
Published: 14 Nov 18
Exploration drilling at Ivanhoe Mines’ Kamoa North prospect area, which forms part of the 397 km2 Kamoa-Kakula mining licence, in the Democratic Republic of Congo (DRC), has successfully delineated two new, continuous corridors of shallow copper mineralisation containing zones of thick, high-grade copper. The newly delineated copper corridors occur on the western flank of the unmineralised Kamoa Dome at Kamoa North.
VR reinventing education, training in organisations – BSC
Published: 14 Nov 18
Business Science Corporation (BSC) is reinventing itself as the world moves into the Fourth Industrial Revolution (4IR) and is focusing on the use of virtual reality (VR) as a cost-effective method of training people. Skills development and the inadequacies of traditional safety training remain problem in some industries, especially mining.
Caledonia posts lower Q3 earnings as costs rise, gold price weakens
Published: 14 Nov 18
A slightly weaker gold price and higher production costs contributed to a 17% year-on-year decrease in triple-listed Caledonia Mining Corporation’s adjusted earnings a share for the third quarter ended September 30 to $0.33. Gold production of 13 978 oz was 2.9% lower year-on-year owing to the lower grade.
WGC publishes update to 2013 all-in sustaining cost guidance note
Published: 14 Nov 18
The World Gold Council (WGC) has published an update to its June 2013 guidance note on all-in sustaining costs (AISC) and all-in costs (AIC). “Since its launch in 2013, we have monitored the use and application of the guidance note to ensure that it meets its objective of providing transparency into the costs associated with producing gold, by setting out a consistent methodology.
Kumba champions ‘zero-harm’ approach for mining industry Kumba champions ‘zero-harm’ approach for mining industry
Published: 14 Nov 18
The mining industry’s efforts to achieve zero harm are achievable, but this will need a fundamental change in mindset from mine leadership that includes a relentless focus on managing catastrophic and fatal risks, says Kumba Iron Ore safety and sustainable development executive head Philip Fourie. “By addressing the leading indicators for fatal accidents, they will be automatically eliminated. We know the fatal risks facing us, and we need to manage them properly,” he said in a statement published on Wednesday.
Eastplats retreatment project remains on track
Published: 14 Nov 18
Dual-listed Eastern Platinum (Eastplats) expects to start revenue-producing operations at the retreatment project at its Crocodile River mine, in the North West, in the fourth quarter of this year. The dual-listed company has, over the course of this year, focused on the construction of the retreatment project and is about to commission it with a focus on bringing it into full operation as quickly as possible.
Vanadium batteries the solution to meet growing energy storage demand – Bushveld
Published: 14 Nov 18
Vanadium redox flow batteries (VRFBs) are a front-runner technology for meeting the growing demand in the energy storage sector, says Bushveld Energy CEO Mikhail Nikomarov. During a webinar on energy storage this week, he noted that data by US-based multiservice professional firm Navigant shows that VRFB demand is expected to increase to over 18 000 MWh by 2027.
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