Wednesday, August 17, 2016

New thinking needed on Eskom electricity tariff – Harmony

October 30, 2009 by · Leave a Comment 

South Africa needed to apply its mind to solving the electricity price issue to avoid widespread knock-on effects that would seriously stunt economic growth and spark a new round of wage demands, Harmony Gold CEO Graham Briggs said on Friday. The head of South Africa’s third-largest gold-mining company said that increasing the electricity tariffs by [...]

Harmony’s first-quarter gold output up 6%

October 30, 2009 by · Leave a Comment 

South African-based gold-miner Harmony Gold recorded a 6% quarter-on-quarter increase in production to 11 615 kg of gold during the quarter ended September 30, 2009, but CEO Graham Briggs warned on Friday that the company might have to restructure some of its lowest-grade, highest-cost operations as a result of the strengthening rand. Both the underground [...]

Second Take: Coal is still king

October 30, 2009 by · Leave a Comment 

The increasing need for coal mines in South Africa. Read more….

‘Very significant’ rerating chance for SA gold miners – Gold Fields

October 29, 2009 by · Leave a Comment 

A "very significant" rerating opportunity existed for South African gold producers, Gold Fields CEO Nick Holland said on Thursday. Holland said that the large gap that had existed between the market capitalisations of South African gold-mining stocks and those of far smaller international gold-mining companies had been closed in the past and, with proper management, [...]

SA rail utility, manganese miners mull 12Mt/y export channel ‘partnership’

October 29, 2009 by · Leave a Comment 

State freight logistics group Transnet, in consultation with manganese exporters, expects to decide within the "next four to five months" whether to develop a new export channel through the deep-water harbour at Saldanha Bay, on South Africa’s West Coast, or to proceed with an alternative model involving ports on the country’s eastern seaboard. CEO Chris [...]

Implats offers Khotso Mokhele the chair

October 29, 2009 by · Leave a Comment 

South Africa’s second-largest platinum miner, Implats, on Thursday offered the position of chairperson of the board to incumbent non-executive director Dr Khotso Mokhele. The overture to Mokhele follows the acrimonious sacking of Dr Fred Roux. Implats said in a Stock Exchange News Service announcement that it would consider Mokhele appointment as its new chairperson at [...]

Rand strong for next 12-18 months – Gold Fields

October 29, 2009 by · Leave a Comment 

South Africa’s second-largest gold producer, Gold Fields, said on Thursday that it expected the rand to remain strong for the next 12 to 18 months. "We’ve made peace with the rand being where it is and we are structuring our business around current levels," Gold Fields CEO Nick Holland said. He said that Gold Fields [...]

Gold Fields hoping to build second Andes gold mine

October 29, 2009 by · Leave a Comment 

South Africa’s second-largest gold-miner Gold Fields may build another gold mine in the Andes, this time 5 000 m up. The Chucapaca, in southern Peru, is at an advanced stage of drilling and Gold Fields hopes to have a scoping study out by June 2010. Gold Fields earlier this year fully commissioned its Cerro Corona [...]

CoAL of Africa to buy NuCoal

October 29, 2009 by · Leave a Comment 

South Africa-focused coal-miner Coal of Africa Limited (CoAL) plans to raise £59,6-million to fund a proposed R650-million acquisition of NuCoal Mining, to accelerate capital expenditure (capex) at its Vele and Makhado projects, and to pursue other smaller acquisitions, it announced on Thursday. The ASX-, Aim- and JSE-listed coal-miner would place up to 59,8-million new ordinary [...]

SNR aims to start large-scale coal sales by mid-2010

October 29, 2009 by · Leave a Comment 

Strategic Natural Resources (SNR), which owned 74% of South Africa’s Elitheni Coal, had achieved its first revenues from coal sales and had made “significant progress” towards starting large-scale coal sales by the second half of 2010. SNR CEO Richard Latham on Thursday noted in a statement to shareholders that the Aim-listed company had continued to [...]

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