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
As part of a process initiated by Sasol Ltd to incorporate a strategic partner for its explosives and rock fragmentation division, Chile based explosives major ENAEX SA has been selected as a preferred partner to negotiate the terms and conditions for creating a joint venture
Tanzania said on Wednesday that it had awarded licences for the construction of a mineral smeltery and two gold refineries to Chinese firms, as part of government efforts to generate more revenues from the nation’s mining industry. Mining Minister Doto Biteko said the Chinese companies would also
Gold’s push higher continues Range trading appears to have given way to steady gains for gold, with higher lows and higher highs seen since last Wednesday. Further gains target $1450, with the overnight pullback finding support at $1420. A move back below $1415 suggests some near-term
His comments come as Barrick is about to gain full control of Acacia Mining’s (LSE: ACA) African assets after Acacia, hobbled by disputes with the government of Tanzania, agreed to a revised takeover offer on Friday. Bristow pointed to “extensive exploration work” in Côte d’Ivoire as Barrick
The dredger can be applied in various mining applications including slimes and sediment removal in process water ponds, recovering valuable materials in tailings ponds and for general tailings ponds maintenance. Watermaster can also be applied in diamond and gold mining where gravel can be directly
The past 18 months have seen a particularly strong uptick in exploration globally. There have been a number of boom and bust cycles in the past decade globally – the latest bust cycle lasting for longer than most expected. Africa, which has traditionally been strong
Africa-focused metals producer Pan African Resources has exceeded its full-year production guidance of 170 000 oz, with output up 7.5% year-on-year to 172 442 oz. This has seen Pan African emerging as a “safe, low-cost and long-life gold producer”, CEO Cobus Loots said on Friday. The higher gold production
Beneath the surface of its latest economic crisis, Zimbabwe has been quietly positioning itself as a future major exporter of chromium to the insatiable Chinese market. Chinese demand for chromium is mainly driven by stainless steel, of which it is the world’s largest consumer. The country
South African environmental justice advocates are suing the government to force it to clean up the air in the country’s Mpumalanga Highveld region. In the mid-1990s, South Africa’s post-apartheid government overhauled the nation’s constitution. Among the reforms, the country’s leaders adopted a bold, sweeping protection