The SAIMM is a professional institute with local and international links aimed at assisting members source information about technological developments in the mining, metallurgical and related sectors.
China’s coal production restrictions are a “stealth” bailout for miners and their creditors that may last until the end of the decade as the policies help boost prices, according to Goldman Sachs Group.
Without government intervention, China’s coal industry wouldn’t be able to service the nearly three-trillion yuan ($444-billion) in debt from investing in new mines before demand started to drop, the banks analysts including Christian Lelong wrote in an October 20 note. The twin goals of the mining restrictions have been to develop a “safe, solvent and efficient” industry and protect the country’s financial system from the risk of large-scale defaults, they wrote.
Philippine President Rodrigo Duterte will bring home $24-billion worth of funding and investment pledges from his four-day visit to China as both nations agreed to resume talks and explore areas of cooperation in the South China Sea.
China will provide $9-billion in soft loans, including a $3-billion credit line with the Bank of China, while economic deals including investments would yield $15-billion, Trade Secretary Ramon Lopez told reporters in Beijing on Friday. Preliminary agreements in railways, ports, energy and mining worth $11.2-billion were signed between Philippine and Chinese firms.
Platinum group metals (PGMs) miner Wesizwe Platinum has decided to appoint contract miners to operate its Bakubung platinum mine, near Rustenburg. At a media briefing, in Johannesburg, on Friday, Wesizwe projects executive Jacob Mothomogolo explained that 70% of South Africa’s start-up PGMs mines implemented contract mining for the first five years of mine life, after which the mine becomes owner-operated.