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NUM postpones planned coal sector strike
Published: 17 Nov 17
The National Union of Mineworkers (NUM) will postpone its planned strike in the coal sector, as some coal companies have decided to table new offers to NUM members. The union on Friday said the coal companies would present the new wage offers on Monday, after which the union would decide to accept the new offers or to serve a 48-hour strike notice.
Brazil's Samarco mine sees need to cut staff by 600
Published: 17 Nov 17
Brazilian iron-ore miner Samarco has told unions it needs to cut 600 workers by December, the joint venture between Brazil's Vale and Anglo-Australian miner BHP Billiton said in a statement on Friday. Samarco said it would resume talks with unions Metabase Mariana and Sindimental on Friday following Thursday meetings on the need to reduce staff to 1 135 from 1 735.
Alrosa Q3 net profit halves on losses from flooded mine
Published: 17 Nov 17
Alrosa, the world's largest producer of rough diamonds, said third-quarter net profit has halved to 12.95-billion roubles from the year-ago period, caused by losses related to a flooded underground mine. The company said it incurred losses worth 7.38-billion roubles from the flooded mine Mir.
Sampling confirms lithium in Namibia – Montero Sampling confirms lithium in Namibia – Montero
Published: 17 Nov 17
Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO Dr Tony Howard said in a release to Creamer Media’s Mining Weekly Online.
Corsa sees sales volume growth for sixth consecutive quarter
Published: 17 Nov 17
Even though the global supply chain for metallurgical coal remains challenged and prone to disruption, strong steel pricing and production levels have helped to sustain a high level of demand for raw materials, which include metallurgical coal, according to Corsa Coal CEO George Dethlefsen. In a statement released Thursday, the US-focused coal producer revealed that the company’s volume growth for metallurgical coal sales had increased by at least 20% for the sixth consecutive quarter in the third quarter ended September 30, growing 44% quarter on-quarter.
Botswana Diamonds positive about potential at South African project
Published: 17 Nov 17
A detailed ground geophysical survey undertaken on eight Group 1 kimberlites at Aim-listed Botswana Diamonds’ Free State exploration project, which is located between Bloemfontein and Kimberley, in South Africa, has indicated that the sizes of these kimberlites range from 0.3 ha to 1.15 ha. The kimberlite sizes were determined using a combination of magnetic, electromagnetic and gravity geophysical techniques, which has resulted in strong images of the footprints of the kimberlites.
Eskom tariff hike a threat to mining jobs – CoM
Published: 17 Nov 17
The Chamber of Mines (CoM) on Friday opposed State-owned power utility Eskom’s proposed 19.9% tariff increase application, stating that the increase would send South Africa into a vicious downward spiral of higher electricity prices, lower growth and lower electricity consumption. Presenting at the National Energy Regulator of South Africa’s (Nersa’s) hearings, in Gauteng, CoM chief economist Henk Langenhoven said Eskom would be a key contributor to a no growth economy and credit downgrades – and the mining industry would take a significant knock.
Sasol shareholders approve new R21bn BEE structure
Published: 17 Nov 17
Sasol Khanyisa, a R21-billion broad-based black economic empowerment (BBBEE) ownership structure, has been granted formal approval by Sasol shareholders. “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented from June 2018 and we believe [it] will realise sustainable and long-term value for black South African shareholders,” said Sasol joint CEO and president Bongani Nqwababa.
Galantas highlights need to secure sufficient funding
Published: 17 Nov 17
Following disappointing results for the third quarter ended September 30, dual-listed miner Galantas Gold Corporation on Friday said its future viability depended on the consolidated results of its wholly-owned subsidiary Cavanacaw Corporation, which holds 100% in Galantas’ Omagh Minerals and Flintridge Resources. Galantas recorded a C$452 756 net loss for the three months, compared with the net loss of C$257 214 incurred in the comparative period of 2016.
Ferrexpo secures $195m loan
Published: 17 Nov 17
Swiss headquartered iron-ore company Ferrexpo has signed a new secured three-year revolving credit facility of $195-million, arranged by BNP Paribas. The facility includes a syndicate of six international lenders and will amortise over eight quarters, with the final repayment due on December 31, 2020.
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