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2019 is a seminal year for investor confidence in South Africa’s mining sector

2019 is a seminal year for investor confidence in South Africa’s mining sector, and international investors will be closely watching a variety of important issues as they seek the clarity they will need to commit to investments in the country.

With crucial national elections due in May, a debt crisis at state electricity utility Eskom and the country’s new mining charter still pending finalisation, Hulme Scholes, a partner at law firm Malan Scholes, said the need for accountability and transparency in the fight against corruption was critical if international investors were to commit to SA and continue unlocking the country’s vast geological potential.

Mining Charter III: Piling the pressure on small miners

By Manus Booysen and Rita Spalding, Partners and mining sector experts at Webber Wentzel

Achieving Mining Charter III’s requirements for structuring broad-based ownership, local procurement and social and labour plans is likely to present serious challenges for small scale miners in particular. It may be time to move away from a “one size fits all” approach in setting charter targets.

Several clauses in Mining Charter III, which may be challenging for large mining houses, place onerous, even impossible, responsibilities on small-scale miners.

These miners include some black-owned businesses as well as hundreds of alluvial diamond miners who are members of the South African Diamond Producers’ Organisation (SADPO) a member of the Minerals Council South Africa.

Phase II striding ahead …

LHDA

Implementing large scale infrastructure projects combines ‘maths and music’: the maths of delivering multiple highly technical engineering components within a specific timeframe and budget, and the music of the softer skills of diplomacy, communication, social, environmental and community protection, while considering the interests and expectations of multiple, diverse stakeholders. The Lesotho Highlands Water Project is no exception to this and while the project is behind the timelines proposed in the Feasibility Report, given the two-year deferred start, Phase II is stepping ahead purposefully.

New Functional Safety for Autonomous Mining Equipment Project

GMGGlobal Mining Guidelines Group’s (GMG) Autonomous Mining Working Group is creating a new guideline to clarify functional safety requirements for autonomous equipment.

The mining industry is embracing automation, but mobile automation technologies are still in the early stages of technology development. As a result, there lacks clear guidance and industry alignment on requirements for managing functional safety. When it comes to requirements for managing functional safety, original equipment manufacturers (OEMs) are at varying stages of maturity, existing standards are not explicitly developed for automating mining equipment, and regulatory authorities provide little specific guidance. Overall, there is general confusion over which standards to follow, and GMG’s Autonomous Mining Working Group plans to offer this much-needed clarity by developing a guideline on functional safety requirements for autonomous equipment.

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Other mining news

Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • BlueRock sells two D-colour Kareevlei diamonds
    Aim-listed BlueRock Diamonds has sold the 8.97 ct diamond and the 16.28 ct diamond, that it recovered earlier this month at its Kareevlei diamond mine, in the Kimberley region of South Africa. The 8.97 ct diamond achieved a price of $8 306/ct, valuing it at $74 513, while the 16.28 ct diamond sold for $4 849/ct, valuing it at $78 947.
  • AMCU strike action further undermines struggling gold, platinum sectors – Minerals Council
    The Minerals Council South Africa on Friday expressed its concern about the consequences of Association of Mineworkers and Construction Union’s (AMCU’s) planned secondary strikes at mining companies where the union is recognised in the gold and platinum sectors. Fifteen companies have, so far, received notices of secondary strike action from AMCU, including Lonmin, effective from the night shift of February 28 to around March 7, said the council.
  • Barrick confirms it has studied offer for Newmont
    Barrick Gold, the world’s second-largest gold producer, confirmed it has considered a bid for Newmont Mining Corp. as the Canadian mining giant looks for ways to boost production. Barrick has reviewed the opportunity to merge with Newmont in an “all-share nil premium transaction,” but no decision was taken, the company said in a statement Friday.