Month: September 2018
Biggest Sibanye Gold unions get approval to strike over pay
(Bloomberg) — The two biggest South African unions at Sibanye Gold Ltd.’s mines got permission to strike over pay after a deadlock in gold wage talks. The National Union of Mineworkers and Association of Mineworkers and Construction Union received strike certificates...
Russia's Petropavlovsk sees net profit next year as key project boosts output
Sept 27 (Reuters) – Russian gold miner Petropavlovsk expects to report a net profit next year as a key gold treatment project is set to boost production and cut costs, Chief Executive Pavel Maslovskiy said on Thursday. The company swung to...
China adopts more flexible output curbs to battle winter smog
(Bloomberg) — Northern China’s key industrial hub will adopt a more flexible program for its anti-pollution output curbs this winter, according to a plan released Thursday by the environment ministry. The Beijing-Tianjin-Hebei area will eschew blanket cuts and take a differentiated...
South Africa mines minister maintains 30% black ownership target in charter
PRETORIA, Sept 27 (Reuters) – South Africa’s new mining charter will require holders of mining rights to have a black ownership level of at least 30 percent within five years, resources minister Gwede Mantashe said at a press briefing Thursday....
Komatsu to build $285-million headquarters in Milwaukee
Japanese heavy equipment maker Komatsu Mining said Thursday it will build a $285 million state-of-the-art headquarters and manufacturing campus in Milwaukee, US, which has the potential to bring about 440 jobs to Wisconsin’s largest city. The company, which last year took...
Battery Minerals hits construction milestones at Montepuez project
Australia’s Battery Minerals (ASX:BAT) said Thursday development of its $51-million Montepuez graphite project, in Mozambique, has achieved key construction milestones. The East Africa-focused explorer said that both a permanent 100-person accommodation camp and the tailings storage facility were well advanced....
Tax Court of Canada rules in favour of Cameco
Saskatoon, Saskatchewan, Canada, September 26, 2018 Cameco (TSX: CCO; NYSE: CCJ) announced today that the Tax Court of Canada has ruled unequivocally in favour of the company in its dispute of the reassessments issued by Canada Revenue Agency (CRA) for the...
China plans to launch iron ore options in 2019
BEIJING/MANILA, Sept 27 (Reuters) – China aims to launch iron ore options next year, a source with direct knowledge of the matter said, as the world’s top buyer of the steelmaking raw material looks to offer more hedging tools to...
Barrick's Bristow bet seen as boosting South America revival
Mark Bristow built a reputation as the developer and operator of lucrative mines in Africa. Now the world’s biggest gold mining company is betting he can do the same in another complex region, South America. The Randgold Resources Ltd. founder...
Freeport, Rio formally yield control of giant Grasberg mine to Indonesia
Freeport McMoRan (NYSE:FCX) and Rio Tinto (LON:RIO) signed Thursday final agreements that give Indonesia a majority stake in their Grasberg copper mine, the world’s second-largest, and which would be transferred to the state-owned mining company PT Indonesia Asahan Aluminium (Inalum)....
Ford CEO says Trump metals tariffs took $1B of profit
(Bloomberg) — Ford Motor Co. Chief Executive Officer Jim Hackett encouraged President Donald Trump’s administration to resolve trade disputes quickly or it could do “more damage” to his company, which is already suffering losses from tariffs imposed by the White...
New AngloGold boss weighs asset sales to unlock value at miner
(Bloomberg) — AngloGold Ashanti Ltd.’s new CEO, Kelvin Dushnisky, said his goal of unlocking value at the world’s third-largest gold producer will involve focusing on its best assets and selling those that aren’t core to the business. Dushnisky, 55, took...