Saturday, July 21, 2018

Kumba Iron Ore and ArcelorMittal SA "committed themselves" to finding a settlement, says a spokesman for South Africa's trade and industry department.

Amid rising diamond prices, London-listed GEM Diamonds said it hoped to meet full year production targets at its flagship Letseng mine in Lesotho.

ArcelorMittal SA has warned that the government's mineral enrichment plans will need a complete review if the steelmaker can no longer receive lower than market prices for iron ore.

Shares in Aquarius Platinum dropped sharply in early trading on the JSE on Monday morning in response to the stringent safety directive slapped on the company by the Department of Mineral Resources.

Take away investment flows and the gold price would topple off its current highs, market research firm, GFMS has said.

Kumba Iron Ore and ArcelorMittal SA will convene an emergency meeting to help save the country's steel production after government's trade and industry minister Rob Davies stepped into the fray.

The Department of Mineral Resources has imposed tough new restrictions on mechanised platinum mines just hours after the chief inspector of mines said this was not on the cards.

Mid-tier diamond producer Rockwell Diamonds has reported a 118% increase in first quarter revenue from rough diamond sales to C$8.5m from C$3.9m previously.

There are concerns the Department of Mineral Resources is about to impose strict new standards on mechanised platinum mines but this is denied by chief inspector of mines Thabo Gazi.

Mining group Aquarius Platinum says its subsidiary Aquarius Platinum has received an instruction that all mechanised bord-and-pillar mines in the North West region are to revise their mine Codes of Practice.