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.
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%.
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.
Zambia coal-fired plant delayed to 2015
Zambia's first coal-fired power plant in years has been delayed owing to a failure to
win environmental permits on time.
State-owned miner to be hived off
The African Exploration & Mining Finance Corporation, the state-owned miner, is to
be split from the Central Energy Fund of which it is a subsidiary in preparation for a
more profound role in government's minerals strategy.
First Quantum hurt by low copper output
Fourth quarter net earnings are some 83% lower owing to lower copper production
and prices for the metal during the period.
Illegal miners killed in Grootvlei disaster
Up to 20 illegal miners may have been killed at gold-mining operations on the
East Rand, according to initial reports.
Zimbabwe declines to extend Impala deadline
A letter from Impala Platinum requesting an extension to its indigenisation plans has
been rejected by the Zimbabwean government.
NUM members join nationwide strike
The National Union of Mineworkers confirmed that it had requested members to join
Cosatu's nationwide strike today aimed at having government scrap labour brokers
and toll road fees.