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.
South African gold miner Gold Fields on Wednesday announced a R6-million, three-year partnership with the University of the Witwatersrand (Wits) to further academic knowledge in the field of mechanised mining and rock engineering in South Africa. Gold Fields CEO Nick Holland and Wits vice-chancellor and principal Professor Adam Habib signed the partnership agreement, which involves Wits University’s School of Mining Engineering, the Wits Mining Institute and Gold Fields.
The share price of Sibanye-Stillwater rose quickly and sharply on Wednesday on the news that the precious metals company had moved to create an industry-leading surface mining partnership with gold tailings retreatment company DRDGold. The proposed transaction, which saw the share price of Sibanye lift 3.65% to a 59c-higher R18.73 a share by early afternoon and the share price of DRDGold decline by a slight 0.81% to a 4 c-lower R4.92 c a share, involves Sibanye vending selected West Rand Tailings Retreatment Project (WRTRP) surface processing assets and tailings storage facilities into DRDGold for a 38% slice of the JSE-listed surface mining company’s ordinary share capital, which as at Tuesday was valued at R1.3-billion.
While global gold miners will gradually shift their focus from financial austerity to growth through acquisitions and increased spending, miners operating in sub-Saharan Africa (SSA) will face elevated costs owing to regulatory uncertainty, power shortages and labour unrest, according to Fitch-affiliated research firm BMI. The firm cited Tanzania-focused miner Acacia Mining’s battle with local government, noting that it had announced plans in September to reduce operations at the Bulyanhulu gold mine, following unsuccessful negotiations over the government's decision to ban gold and copper ore exports.