Archive | Africa Mining

[The Hilarious Adventures Continue] Excerpt from ‘Miner Altercations’ – by Jon Ardeman

To order a copy of “Miner Altercations” which would make an excellent Christmas gift for any Geologist/ Mining/Explorationist: http://amzn.to/2Ap0Zo3

Since graduating Jon Ardeman’s geological career has been in many guises; in exploration, mining, consultancy, conservation and research. He has worked as a National Park guide, a nature warden looking after tadpoles and orchids, as a researcher digging up cow shed floors looking for Ordovician brachiopods and preparing dinosaur bones for a museum display. Enthused by these experiences, Jon sought further adventures, and headed to Africa where he worked as a geologist on various mines for more than a decade.

He returned to university and after a few years of academic research and consultancy, Jon went back to mining and precious metal exploration. His travels have taken him from the Arctic to the Equator, from North America and Siberia, to Europe, Australia, Asia and back to Africa.

During this time, Jon wrote several “mystery and imagination” short stories for magazines and competitions, but his inspiration for a first novel ‘Miner Indiscretions’ came from get-togethers with fellow prospectors and miners; with the story embellished by imagination, cold beer, a hint of the supernatural and – of course – dreams of African gold! The author is married with several children and now resides in Hertfordshire, England.

Overview

The second in the MINER series of the picaresque adventures of Timothy, a young mining geologist working on the remote Yellow Snake Gold Mine in Southern Africa. After staving off the closure of the ageing Mine with the discovery of a rich new gold deposit, Timothy and the Mine’s eccentric employees look forward to returning to their devious old ways. Continue Reading →

Vancouver mining company faces trial over slavery claims – by Ian Mulgrew (Vancouver Sun – November 21, 2017)

http://vancouversun.com/

Canadian companies have been put on notice by the B.C. Court of Appeal that they can be held accountable in the nation’s courts for human rights abuses committed in foreign countries.

In a ruling with wide implications, the three-justice division dismissed a B.C. firm’s attempts to block a suit by African workers who say they were forced to toil as slaves at a gold mine 60 per cent owned by Nevsun Resources Ltd. and 40 per cent by Eritrean state companies.

“It’s a very important win because it means the case can proceed and Nevsun will have to answer the case on the merits, meaning they are going to have to respond to the allegations they were complicit in the use of forced labour in the building of that mine,” explained Joe Fiorante, a lawyer who represented the refugees. Continue Reading →

Anglo’s Cutifani claims investors are wary of sector recovery – by David McKay (MiningMX.com – November 20, 2017)

https://www.miningmx.com/

VOLATILITY in the mining sector and the speed with which commodity prices have recovered since 2016 are deterring investors from buying mining shares, said Anglo American CEO, Mark Cutifani.

Responding to questions about the relative underperformance of mining shares this year during a conference held by Goldman Sachs, Cutifani said investors wanted more evidence of capital discipline from management. His comments were contained in a report issued by Goldman Sachs on November 16.

According to Goldman Sachs, mining companies have “… entered the harvest phase after a period of low capex, high prices and low costs translating into significant free cash flow, de-leveraging and the potential for significantly higher returns”. Since January 2016, shares Glencore and Anglo American are up 400% and 500% respectively. Continue Reading →

Glencore executives resign from Katanga board amid regulatory probe – by Niall McGee (Globe and Mail – November 21, 2017)

https://www.theglobeandmail.com/

Three Glencore PLC executives have resigned from the board of its Toronto-listed subsidiary Katanga Mining Ltd. after an internal review found “material weaknesses” in its financial reporting controls, amid a regulatory probe by the Ontario Securities Commission (OSC).

On Monday, Switzerland-based Katanga announced it is restating a number of financial documents, including its consolidated financial statements for the 2015 and 2016 fiscal years, and its management discussion and analysis (MD&A) for the quarters ending March 31, 2017 and 2016. The company also said its chief financial officer, Jacques Lubbe, was stepping down.

Katanga owns copper and cobalt operations in the Democratic Republic of Congo and is majority owned by Glencore, a giant Anglo-Swiss metals and mining conglomerate. Continue Reading →

Apple, Google and other phone companies ranked for connections to wars and human rights abuses – by Andrew Griffin (The Independent – November 19, 2017)

http://www.independent.co.uk/

Many of the materials needed to make new electronics has unknown connections to the rest of the world

The phones in your pocket and the laptops on your desk might include materials linked to a range of horrific abuses, according to two major new reports.

Materials like gold and cobalt power the batteries and other components required to keep the world running. But they might also be endangering the world, by funding groups that undermine safety and protections in companies like the Democratic Republic of Congo.

The two reports show that products from a range of companies are made with materials that could be directly funding conflict in some of the most vulnerable places in the world. Continue Reading →

SA platinum miners watchful of political events in Zimbabwe – by David McKay (MiningMx – November 15, 2017)

http://www.miningmx.com/

SOUTH African platinum producers operating in Zimbabwe said they were watchful of political developments following reports that armed forces had seized power in the southern African country.

“While there are reports of military presence in the country’s capital, to date, there has been no sign of unrest or military presence at any of our operations,” said Johan Theron, a spokesman for Impala Platinum (Implats). “Our operations are all located some distance from the capital, and have continued to operate normally this morning.

“We will continue to assess the situation, and have appeal for calm and the continued safety and wellbeing of the people of Zimbabwe, and our colleagues at the mining operations,” he said. Continue Reading →

Apple leads way in tracing cobalt from Congo, Microsoft lags: Amnesty – by Eric Onstad (Reuters U.S. – November 12, 2017)

http://www.reuters.com/

LONDON (Reuters) – Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said.

Microsoft disagreed with the pressure group’s conclusions published on Wednesday. Congo is by far the world’s biggest producer of cobalt, accounting for more than half of global supplies of the metal, a key ingredient in lithium-ion batteries.

Amnesty, however, says about a fifth of the country’s cobalt production is mined by hand by informal miners including children, often in dangerous conditions. Cobalt has shot to prominence in recent months and its price skyrocketed due to expected growth in demand for electric vehicles powered by lithium-ion batteries. Continue Reading →

Sherritt formalises restructuring of Ambatovy JV – by Henry Lazenby (MiningWeekly.com – November 10, 2017)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Canadian diversified miner Sherritt International has signed a definitive agreement to restructure the Ambatovy Joint Venture (JV), which will see Sherritt transfer its 28% stake in return to eliminate debt from its balance sheet.

Under the terms of the JV restructuring, which was first revealed in May, the Toronto-based company will retain a 12% stake in the Madagascar nickel/cobalt mine, and cancel C$1.3-billion of accrued partner loans from its balance sheet.

Sherritt, which owned a 40% stake in Ambatovy, had for several quarters not been funding capital cash calls by its partners Sumitomo Holding (32.5%) and Korea Resources (Kores) (27.5%), balking against the ‘40 for 12’ issue. Continue Reading →

South Africa crucial to global chrome supply, Chromium 2017 hears – by Martin Creamer (MiningWeekly.com – November 10, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – South Africa is an irreplaceable producer of chrome ore, which is, in turn, an irreplaceable component of stainless steel in which China is currently the leading producer, global delegates to this week’s well-attended Chromium 2017 conference heard.

As the dominant global producer, South Africa last year delivered half of the world’s production of chrome ore, half of which was used as feedstock for ferrochrome in South Africa, with the remaining 8.4-million tonnes exported. (Also watch attached Creamer Media video).

Seventy-three per cent of China’s chrome imports come from South Africa’s chrome-mining industry, which employs 17 500 people who receive R4.2-billion a year in salaries and wages. Continue Reading →

Zimbabwe invites investment in underground chrome mining – by Martin Creamer (MiningWeekly.com – November 8, 2017)

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Zimbabwe on Wednesday invited chrome mining investors to focus on underground chromium operations rather than cheaper strip mining operations, from which most of the country’s chromium ore is currently extracted.

In a keynote opening address to the packed 33rd Chromium Conference, Zimbabwe’s Permanent Secretary of the Ministry of Mines and Mining Development Munesushe Munodawafa expressed the view that the future of chrome mining in the country lay in underground mining rather than the current opencast methods, which he described as being limited in both quantity and quality.

“The future of chrome mining in Zimbabwe is in the developing of underground operations,” Mundowafa told the record number of 260 delegates from many parts of the world. He urged investors in underground chrome-mining operations also consider partnerships with Zimbabwe’s small-scale miners. Continue Reading →

Deaths spike in South Africa’s deep and dangerous mines, reversing trend – by Ed Stoddart (Reuters U.S. – November 7, 2017)

https://www.reuters.com/

JOHANNESBURG, Nov 7 (Reuters) – The 2017 death toll in South Africa’s mines has already surpassed the 2016 figure, ending nine straight years of falling fatalities in the world’s deepest mines and raising red flags for the industry, government and labour groups.

The trend reversal is likely to reignite investor concern over mine safety and could prompt regulators to step up shaft inspections, which often result in costly production stoppages.

“Fatal accidents last week raised the number of fatalities in 2017 to 76, above the 73 reported in 2016. This is particularly disappointing given the consistent improvement the industry has seen over the past two decades,” South Africa’s Chamber of Mines said in a statement. Continue Reading →

Congo mining output rises, central bank warns of inflation risk – by Aaron Ross (Reuters U.S. – November 6, 2017)

https://www.reuters.com/

DAKAR (Reuters) – Copper production in Democratic Republic of Congo, Africa’s top producer of the metal, rose by 9.3 percent in the first nine months of this year, but soaring inflation remains a risk to the economy, the central bank warned on Monday.

Rising mining production should help ease some of the economic problems in Congo where inflation is expected to hit 48 percent this year and the Congolese franc has fallen by 22 percent against the dollar, largely due to lingering effects from two years of low commodity prices.

Copper production in the first nine months of the year stood at 831,000 tonnes, the central bank said in a monthly report, while cobalt production increased by 18 percent to 59,000 tonnes and gold production rose 5.7 percent to 23,000 kg. Continue Reading →

Revealed: Glencore’s secret loan to secure DRC mining rights – by Ben Doherty and Oliver Zihlmann (The Guardian – November 5, 2017)

https://www.theguardian.com/

The world’s largest mining company, Glencore, secretly loaned tens of millions of dollars to an Israeli billionaire after it enlisted him to secure a controversial mining agreement in the Democratic Republic of the Congo, the Paradise Papers reveal.

The documents show in forensic detail how the mining magnate Dan Gertler held Glencore’s imprimatur as key negotiator with DRC authorities.

The Paradise Papers, a leaked cache of documents including more than 6m from within Appleby, one of the world’s leading and most secretive offshore law firms, lay bare the arcane multi-jurisdictional dealings of Glencore, a scandal-plagued Swiss multinational with mining interests across the globe, but particularly in Africa. Continue Reading →

Lonmin to showcase social projects after share price meltdown – by Ed Stoddard (Reuters U.S. – November 5, 2017)

https://www.reuters.com/

JOHANNESBURG, Nov 5 (Reuters) – Embattled London and Johannesburg-listed platinum producer Lonmin will unveil new health and road projects in South Africa on Monday in a ceremony that will be overshadowed by its latest share price collapse.

Lonmin, not for the first time, is facing an uncertain future after its shares lost 30 percent on Friday when it delayed annual financial results due this month pending the conclusion of a business review.

The company said it had adequate liquidity to fund it through a review that could include the sale of assets, job cuts and the renegotiation of loan agreements. There has also been speculation about a deal to combine with fellow South African miner Sibanye-Stillwater Continue Reading →

Excerpt from ‘Miner Indiscretions’ – by Jon Ardeman

To order a copy of “Miner Indiscretions”: http://amzn.to/2hMreNl

Since graduating Jon Ardeman’s geological career has been in many guises; in exploration, mining, consultancy, conservation and research. He has worked as a National Park guide, a nature warden looking after tadpoles and orchids, as a researcher digging up cow shed floors looking for Ordovician brachiopods and preparing dinosaur bones for a museum display. Enthused by these experiences, Jon sought further adventures, and headed to Africa where he worked as a geologist on various mines for more than a decade.

He returned to university and after a few years of academic research and consultancy, Jon went back to mining and precious metal exploration. His travels have taken him from the Arctic to the Equator, from North America and Siberia, to Europe, Australia, Asia and back to Africa.

During this time, Jon wrote several “mystery and imagination” short stories for magazines and competitions, but his inspiration for a first novel ‘Miner Indiscretions’ came from get-togethers with fellow prospectors and miners; with the story embellished by imagination, cold beer, a hint of the supernatural and – of course – dreams of African gold! The author is married with several children and now resides in Hertfordshire, England.

Overview

A hilarious, action-packed story following Timothy, who starts his career as a junior geologist on a modern deep gold mine in South Africa. Unexpectedly and ignominiously dismissed from this post; he manages to get a new job exploring for gold on the dilapidated Yellow Snake Mine in rural KwaZulu-Natal. Continue Reading →