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Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • Rockwell reports Q2 2018 results, excludesg breakeven-but-bankrupt SA affiliates
    Canadian alluvial diamond miner Rockwell Diamonds, an affiliate of Vancouver-based mining house Hunter Dickenson, has reported a noncash comprehensive income of C$23.2-million for the three months ended August 31. The result is based almost entirely on the reversal of foreign currency reserves regarding operations in South Africa, and certain stock based compensation reserves that were unwound. However, it excluded the company’s three South Africa-based subsidiaries Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine, over which the company no longer has control.
  • Atlatsa retreats into hibernation
    Black Economic Empowered platinum group metals company Atlatsa Resources has confirmed that the 51%-owned Bokoni platinum mine, in South Africa, has been placed on care and maintenance on October 1, as part of an Anglo American Platinum- (Amplats-) backed restructuring agreement, the company said on Monday. The TSX- and JSE-listed company noted that various attempts since 2014 to restructure the Bokoni operation was unsuccessful to return positive cash flow to the mine.
  • Shanghai rebar extends rally to one-month high, lifts iron-ore
    Chinese rebar steel futures advanced for a third straight day to hit a one-month peak on Monday, supported by output cuts in the world's top producer as part of the government's battle against smog. The gains in steel prices lifted iron-ore, although traders were not convinced the increase in prices of the raw material would last when most of the steel output curbs in China are in place during winter.