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Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • Galileo to continue with drill programme at Star Zinc project
    Aim-listed Galileo Resources will continue with a drilling programme at its 85%-owned Zambia-based Star Zinc project, after a positive study of the project was completed by Earthmaps Consulting.   
  • Anglo Platinum taking steps to reverse unjustified investor bearishness
    Platinum group metals (PGMs) mining, refining and marketing company Anglo American Platinum (Amplats), which on Monday delivered an outstanding set of dividend-yielding financial results for the six months to June 30, is taking steps to reverse unjustified investor bearishness. After the company reported improved free cash flows and capital return of 22.4% at a time of subdued platinum pricing, Amplats CEO Chris Griffith made it plain at question time that the perceived heavy dependence of platinum on diesel cars in Western Europe is being overplayed. (Also watch attached Creamer Media video).
  • Eskom confident of raising R72bn despite qualified audit
    Financially stressed electricity producer Eskom expressed confidence on Monday that it would be able raise the R72-billion it required for the 2019 financial year, despite having received a qualified audit opinion for the 2018 financial year, reporting a R2.3-billion loss, warning of yet more financial difficulties ahead and acknowledging that its current business model is no longer sustainable. To date, Eskom has secured only 22% of its funding requirement for 2019.