Weekly News Round-Up

Bringing you positive mining stories from across the continent this week.

This week, CNBC Africa reported on the ICMM’s new tailings dam safety standard, which is designed to save lives and spare communities from inundation with mine waste. In order to implement the standard, it is expected that miners will have to invest heavily in tailings management training, academic courses and new engineers– potentially positive news for countries across Africa currently suffering from high levels of unemployment. Read more here.

Sibanye-Stillwater, the world's largest primary producer of platinum, advised that it expects a 3.7% increase year-on-year in basic earnings for the six months ended June 30th. The company attributed the increases in earnings to an improved operational performance from its own-managed South African gold operation, as well as significantly higher average precious metal prices in the first half of this year. Read more from Mining Weekly.

In a story also reported by Mining Weekly, tax advisory firm Renmere warns that the South African government’s Draft Taxation Laws Amendment Bill risks having “far-reaching and unintended consequences in its current form”. The new bill effectively excludes contract miners from the country’s favourable mining capex regime. Read more here.  

Also in South Africa, Ivanhoe Mines has appointed two high-profile, Johannesburg-based female leaders to its board as independent directors. The first, Nunu Ntshingila, is the regional director of Facebook Africa. The second, chartered accountant Martie Janse van Rensburg, has worked as a consultant since 2008 and was previously CEO of South Africa's Trans Caledon Tunnel Authority. Read more from Mining Journal.

In Mali, Mining Indaba 2020 Investment Battlefield runner-up Roscan Gold has reported positive drill results from 20 holes completed at the Mankouke South target, within the company’s 254 square kilometre Kandiole project. Read more from Mining.com.

Fellow gold miner RoxGold reported record cash flow and operating margins for the June quarter. It cited reduced operating costs at its Yaramoko operations in Burkina Faso, as well as a high gold price as the reasons behind its success. Read more from Mining Journal.

Finally, if you like to keep up to date with the latest developments in African mining, why not check out Mining Indaba’s webinar schedule? The webinars are free to participate in live or watch on-demand at your convenience. Find them here.

Mining Indaba Newsletter

Stay connected with our global mining and finance community.
Register to hear the latest news.