Petmin profit flat, doubles Somkhele capacity
Petmin has posted an interim net profit of R47m to end-December 2011, following a period of significant capital investment in its flagship Somkhele mine.
Botswana launches state diamond trader
Botswana has formed a new state-owned diamond trading company that will purchase, market and sell a portion of Debswana production, according to a report.
Zimbabwe’s Saviour an enigma
Saviour Kasukuwere, the Zimbabwean government minister who has become
the bane of foreign-owned businesses, is different things for different people.
Workers down tools at Gold One’s Modder East
Gold One International said it had issued an ultimatum to striking workers at its
Modder East mine and would consider dismissal as the walk out was unprotected.
Miners boosted as Eskom tariff increases slashed
The South African mining industry has granted a massive boost as Eskom has its
annual tariff increase for the 2012/13 year reduced to 16% from 25.9%.
Exxaro looks to mineral sands for 2012 boost
A major part of Exxaro Resources’ future is now captured in its mineral sands
output; a business it nearly closed just over a year ago.
Great Basin taps market for Burnstone funds
Great Basin Gold has shored up its balance sheet again, raising R378m that is
to protect the company against possible shocks at its Burnstone mine.
Resource rent proposal deters foreign funds
A proposal to install a resource rent tax and make the state owned mining company
more prominent in industry affairs is driving foreign funds from South Africa's
shores.
Great Basin’s Burnstone cash flow positive in 2012
Great Basin Gold said its Burnstone mine would produce up to 100,000 oz of gold in
2012 and keep cash costs to $1,000/oz - enough to make it cash flow positive from
the third quarter of the year.
Rio’s Mozi mine to supply Tata Steel this year
Tata Steel's European unit would have about 10% of its coking coal requirements
supplied to it from Rio Tinto's new Mozambique coal mine, Benga.