Mr. Kwame Addo-Kufuor Jr, President of the ECOWAS Federation of Chambers of Mines (EFEDCOM), has called for new approaches and stakeholder dialogues to create enabling environments to attract foreign and local investment into sustainable and responsible mining. He said the time has come to think differently on how to position local companies to actively participate […]
The Association of Mineworkers and Construction Union (AMCU) says it is ready to appear in the Labour Court on April 29 to defend its urgent application requesting that the Department of Mineral Resources and Energy (DMRE) set minimum standards for health and safety of mineworkers during the scourge of the Covid-19 pandemic. While there is […]
PERTH (miningweekly.com) – Mining major BHP is continuing its battle against the Covid-i9 pandemic, pledging A$3-million to the prevention and treatment of the virus through support for two research institutions based in Australia. BHP on Wednesday said that its Foundation would provide A$2-million to support the University of Queensland (UQ) to develop a potential vaccine […]
PERTH (miningweekly.com) – ASX-listed West African Resources has struck a $45-million deal with Canada’s B2Gold to acquire the Toega gold deposit, in Burkina Faso. Located within 14 km of West African’s own Sanbrado project, the Toega deposit has an existing inferred resource of some 1.1-million ounces, grading 2.1 g/t gold. The deposit is situated on […]
Although driving youth participation and innovation in the mining industry is crucial, the advent of Industry 4.0 in the mining industry (Mining 4.0) often makes it challenging, as the youth perceives the industry as less attractive, compared with other mainstream career fields. Mining simulation centre SiMINE consultant Connie Chijara – a recent graduate – tells […]
JOHANNESBURG (miningweekly.com) – Gold mining company Gold Fields on Thursday reported that its South Deep gold mine in western Gauteng had commenced a staged incremental ramp-up plan, which included recalling employees, making the mine safe and implementing Covid-19 standard operating procedures. The initial plan would be to operate at employment levels of 50%, with employment […]
JOHANNESBURG (miningweekly.com) – The Department of Mineral Resources and Energy (DMRE) on Thursday issued a firm directive to all mining operations to ensure safe startup procedures as the sector prepares to ramp up to 50% of capacity. Mining Weekly can report that the directive is issued to ensure compliance with Section 5(1) of the Mine […]
The World Gold Council (WGC) says the benefits of certain portfolio hedges “came into clear focus” during the 2008/9 financial crisis, the subsequent European sovereign debt crisis, the 2018 December stock market pullback and the most recent Covid-19 pandemic. According to the council, “many tail hedges work well during crises”, if timed properly, but are […]
As the world struggles to get COVID-19 infections under control, it is becoming clear that the impact of the pandemic will be far reaching. Many countries have rolled out stimulus packages to cushion their economies and citizens from the blow that is already showing significant casualties in lives, jobs and business viability. This upset will […]
Bank of America raised its 18-month gold-price target to $3 000/oz – more than 50% above the existing price record – in a report titled “The Fed can’t print gold.” Analysts including Michael Widmer increased the target from $2 000 previously, as policy makers across the globe unleash vast amounts of fiscal and monetary stimulus […]
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