Anglo American to offload stake in Australian coal mine

Anglo American to offload stake in Australian coal mine

Diversified miner Anglo American has agreed to sell its 83.33% interest in the in the Dartbrook coal mine in the Hunter Valley, New South Wales, Australia. Under terms of the agreement, Australian Pacific Coal (APC) as guarantor and a subsidiary of AQC as purchaser, would pay up to A$50-million ($36-million), comprising an upfront cash payment […]

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Crisis excellent opportunity to rescue mining – Motlanthe

JOHANNESBURG (miningweekly.com) – The current crisis in South Africa’s mining industry should be grasped as an excellent opportunity to introduce material change through an effective joint organising body that gets things done within specified timelines. “We’re in a rut and need to pull ourselves out of it together,” says former President of South Africa and […]

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Rush to speed Brazil mine permit may be behind dam disaster

Mining companies often complain endless red tape makes it hard to do business in Brazil but prosecutors and environmentalists say burst dams at an iron-ore mine that triggered massive flooding last week point to gaping lapses in regulation. The floodwaters and mudflow killed at least two people and another 25 are still listed as missing […]

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Lonmin cuts workforce, shrinks capex, lowers unit costs

Platinum mining company Lonmin on Monday reported employee cuts, shrinking capital expenditure (capex), lower unit costs and the highest refined platinum production in eight years. But that did not stop the share price of the London- and Johannesburg-listed platinum-mining company from initially falling by as much as 3.8% to 451c a share before closing the […]

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Gold Fields swings to black in Q2, but cuts guidance at South Deep

JOHANNESBURG (miningweekly.com) – While a solid showing from its Peruvian, Ghanaian and Australian operations pushed Gold Fields’ second-quarter earnings to $22-million, the company has cautioned of a likely output slip at its South Deep gold mine, located along the Witwatersrand basin, narrowing the operation’s forecast yearly production by 8.5% to 229 280 oz. Despite posting […]

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Weak oil price exacts toll on Sasol’s earnings

South African energy and chemicals group Sasol confirmed on Friday that its earnings for the financial year to June 30, 2015, would be down on the previous year, despite a strong operational performance – the weaker result was largely attributed to the sharp fall in the oil prices during the period. Headline earnings a share […]

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Tech savvy O’Neill streaks up Anglo ladder

Technical fundi Tony O’Neill, who put his imprimatur on game-changing technology during his short spell in South Africa, has been appointed with immediate effect to the board of Anglo American as an executive director, less than two years after taking over the company’s technology, business performance and safety responsibilities. O’Neill, who joined Anglo as group […]

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Exxaro expects steady H1 output, cuts FY capex

JOHANNESBURG (miningweekly.com) – JSE-listed Exxaro has maintained steady overall coal production during the first half of 2015; however, the diversified miner’s exposure to State-owned power utility Eskom, both as a supplier of steam coal and as an electricity consumer, has emerged as a material risk. In a first-half preclosing statement, the company said the ramp-up […]

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De Beers, six others form Diamond Producers Association

JOHANNESBURG (miningweekly.com) – De Beers has partnered with six other diamond miners to establish the Diamond Producers Association (DPA), which would actively engage with industry and nonindustry organisations to promote the interests of the diamond sector. The other founding members were Alrosa, Rio Tinto, Dominion Diamond Corporation, Lucara Diamond Corporation, Petra Diamonds and Gem Diamonds. […]

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Anglo iron-ore port deepening under way

The Brazilian iron-ore port of mining company Anglo American is being deepened to increase the volume of ore that can be loaded on to the Cape-size vessels calling there.  The full 180 000 t volume that Cape-size ships offer cannot be taken up because of the lack of port depth.  High-quality iron-ore from Anglo’s low-cost […]

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