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Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • Volumes, dollar prices keep rand at bay for divi-hoisting Assore
    Improved volumes and better dollar prices proved sufficient for mining holding company Assore to keep rand strength at bay in posting strong headline earnings growth and a sharp interim dividend increase. The company's half-year results were highlighted by a 12% rise in headline earnings, a sizeable 67% dividend boost and an outstanding safety performance in the six months to December 31.
  • Glencore shoots lights out, mulls divi top-up, reaffirms South Africa
    Diversified mining and marketing company Glencore shot the lights out with a superlative set of 2017 results that coincided with a leap in its share price in Johannesburg, the reaffirmation of South Africa as an even more positive investment destination, and the mulling of a dividend "top up" later in the year. The benefit of higher commodity prices and cost containment pushed up mining margins within the London- and Johannesburg-listed company's metals and energy operations, pushing up cash flow from operations to $11.6-billion on net debt of $10.7-billion.
  • Govt to fast-track finalisation of outstanding mining policy
    To take advantage of the cyclical upturn in the mining sector and improved investor sentiment to boost economic growth, government needs to finalise outstanding policy and administrative reforms. The proposed implementation of the revised Mining Charter, contested by industry and the Chamber of Mines (CoM), had caused investor confidence to plummet in recent years, as it was felt that the charter and the outstanding Mineral and Petroleum Resources Development Act Amendment Bill left mining and oil and gas companies unable to accurately assess the expected return on their investments.