Posts Tagged ‘south africa’

Platinum miners in South Africa have 20 days to provide ideas on lapsed and revoked mineral rights as the government looks to drive forward exploration in the country, reports Mining Weekly. A Government Gazette notice inviting comments on the... Full story

The South African government has quashed persistent rumours about nationalizing the country’s mining industry. AFP reports the government has no plans to nationalize its mines despite the radical rhetoric being espoused by some in the ruling ANC party: “As we speak, nationalisation is not a policy of the government or ANC,” Godfrey Oliphant, deputy minister for mineral resources, told a round-table ahead of the ... Full story

According to South Africa’s National Planning Minister, Trevor Manuel, the country will not be hitting mining companies with any surprise new taxes. While Manuel hesitated to leave his statements at that, he did hint that there may be adjustments  to existing codes on the industry, and reiterated he importance of sensible taxation to extract rent from the industry and direct that investment back into ... Full story

South Africa’s ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering other plans to increase state involvement in the sector, particularly with regard to platinum. According to the New Age paper the ANC report stressed that nationalization would be unaffordable, as the government would need to raise R1 trillion ... Full story

Interfax-China reported that China's gold bullion output grew by 5.89% in 2011 to reach a record high of 360.96 tonnes up by 20.08 tonnes from the previous year making the country the world's largest producer for the fifth year running. The China Gold... Full story

The stresses that have afflicted South Africa's platinum miners for the best part of a year appear to be coming to a head. Full story

- Tanzanian Royalty Exploration Corporation is pleased to announce that it has entered into a contractual agreement with Consulmet Metals Limited of South Africa to complete a Full story

Aquarius Platinum CEO, Stuart Murray, announced frustration with the platinum industry due to strikes, regulatory hurdles and PGM oversupply. Murray laid out a litany of complaints in the company’s 2Q production results that were released on Tuesday . Aquarius Platinum’s attributable production for the second quarter decreased by four percent quarter-on-quarter to 105,629 PGM ounces. Full story

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 30, 2012) -   First Quantum Minerals Ltd Full story

In a trading update Russia’s Polyus Gold International, owned by Mikhail Prokhorov, a Vladimir Putin rival in upcoming presidential elections, announced a 8% increase in gold production to just under 1.5 million ounces which boosted earnings by 40% to $1.06 billion. Full story