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Mining

South Africa: Bid to Protect West Coast Jewel From Mining

The future of one of South Africa’s most important biodiversity areas – the Olifants River estuary on the West Coast near Lutzville – could be decided at a crucial meeting on Wednesday 4 December. This is when various government departments and conservation agencies come together

Minerals to get pre-shipment approval before export –FG

A new policy to be introduced in the mining sector by the Federal Government would require exporters to obtain pre-shipment approvals before taking minerals out of the country. Minister of State for Mines and Steel Development, Dr Uchechukwu Ogah, gave hints of the planned policy

Illegal Mining: Nigerian govt inaugurates task force in states

The federal government on Thursday said it has resuscitated the Presidential Mines Surveillance Task Force to curb illegal mining and environmental degradation. The Task Force, which would be operating in all states of the federation, will also be responsible for plugging revenue leakages and institutionalisation

Tanzania: BoT Guarantees Loans to Miners

SMALL scale gold miners can secure Bank of Tanzania (BoT) loan guarantee of up to 500m/- through the registered commercial banks in the country, the central bank announced here yesterday. BoT Mwanza Branch Assistant Manager, Banking, Melchiades Rutayebesibwa told the ‘Daily News’ here yesterday that

South32 to Sell Off South African Coal Assets to Seriti

South32 controls South Africa Energy Coal (SAEC) in the coalfields of Mpumalanga. In April 2018, South32 separated SAEC into a standalone business managed independently from its asset group. Local coal miner Seriti has made an offer for SAEC that includes an upfront cash payment of

World Bank’s IFC to invest in Mauritanian mine

The International Finance Corporation (IFC), the investment arm of the World Bank, will vote in mid-October on the approval of a USD 300 million investment in a gold mine in the Tasiast region of Mauritania. The investment decision – which is the first-ever IFC project

Cobalt, Africa setbacks shrink Glencore’s first-half profit

Glencore’s Chief Executive Officer, Ivan Glasenberg, commented: “Our performance in the first half reflected a challenging economic backdrop for our commodity mix, as well as operating and cost setbacks within our ramp-up/development assets. Adjusted EBITDA declined 32% to $5.6 billion. “The rest of our business,

Eskom bailout is ‘credit negative’ for South Africa: Moody’s

Ratings agency Moody’s has warned that South Africa’s planned R59 billion bailout for Eskom is ‘credit negative’. In a notice published on Wednesday (24 July), the ratings agency said government’s room to manoeuvre was ‘extremely constrained’. “Additional support to Eskom in the special appropriation bill will adversely