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WEBMiningmx is a website that covers the latest news and trends in the South African mining industry. Find out about mergers, acquisitions, production, prices, innovations and more from the experts and columnists.
Out of the spotlight, Trans Hex stages surprising comeback
WEB10 hours ago · Van Niekerk said the Trans Hex NAV was reduced by 44% during the year because lower diamond prices render parts of the Somiluana Mine’s resources uneconomical and reduced the expected life of the mine. Thus, the value of Astoria’s then 25% investment in Trans Hex dropped from R83.2m to just R46.4m. That still infers a value of R184m for ...
Gold industry CEOs say M&A will be disciplined - Miningmx
WEB12 hours ago · It cited gold industry CEOs saying there was more discipline in the sector. “There were some really stupid deals made last time around,” Ross J. Beaty, chairman of Equinox Gold Corp., said in an interview at the Denver Gold Forum this week. “Companies bought dumb stuff and were penalised for it.”. Beaty told Bloomberg News his company ...
Cash flush Harmony never better placed to grow offshore
WEB13 hours ago · Operating free cash flow was R12.7bn in the 12 months to end-June, another record. Net cash is R2.8bn as of June 30. What’s more, those numbers were achieved at an average gold price of $1,999/oz. Since July, the dollar gold price has surged from about $2,300/oz to $2,575/oz. While Harmony’s costs are forecast to rise between 13% and 22% ...
Gold Archives - Miningmx
WEBSouth Africa’s illegal gold mining is surging again. Ed Stoddard - August 27, 2024 0. Against the backdrop of record high prices for gold, Sibanye-Stillwater has reported a surge in illegal mining incidents and arrests around its South African...
The Mining Yearbook 2023 - Miningmx
WEBThe 2023 Mining Yearbook. Read on issuu. Miningmx is proud to present the online version of its Mining Yearbook 2023. Here are some highlights to look out for: The impact of artificial intelligence on society has caught the popular imagination, especially its perils. In mining however the benefits are nearly all good. Ed Stoddard investigates.
Wafer-thin palladium market soars on ‘confluence of factors’
WEB1 day ago · Investec Securities estimated there was “pent up demand” for vehicles the equivalent of 1.4 million oz in palladium demand, about 16% of annual demand. In terms of units, this was four million vehicles in the US and 7.4 million in Europe. For rhodium this demand was equal to 156,000 oz or 13% of the metal’s annual demand.
The Mining Yearbook 2020 - Miningmx
WEBThe Mining Yearbook 2020. The COVID-19 pandemic is accelerating change in the world’s mining sector and adding previously unanticipated dynamics. We speak to the industry’s top CEOs on how 2020 has changed the shape of their industries forever. We ask whether Eskom CEO Andre de Ruyter can make his long-term plans to overhaul Eskom stick?
Implats to cut projects, reposition mines amid “anaemic” outlook
WEBFeb 29, 2024 · Implats, a platinum producer, announces a group-wide restructuring plan to reduce production and costs amid weak market conditions. The plan includes deferring or cancelling expansions, closing mines, and cutting jobs and capital expenditure.
Pan African hits 2024 guidance – but it could have been better
WEBJul 29, 2024 · PAN African Resources produced 186,039 ounces of gold in its 2024 financial year ended June – 6.2% more than in 2023 owing to an much-improved performance at the Barberton Mines complex in Mpumalanga province.. But it could have been better for the £540m South African gold miner. In January Pan African raised the prospect of increasing its 180,000 to 190,000 oz production guidance for the year.