The SAIMM is a professional institute with local and international links aimed at assisting members source information about technological developments in the mining, metallurgical and related sectors.
Aim-listed Kibo Mining on Thursday reported a maiden South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves-compliant resource of 302.9-million tonnes at its 85%-owned Mabesekwa Coal Independent Power Project (MCIPP), in Botswana. Feasibility studies on the MCIPP and Mabesekwa coal resource were advanced, with water and land use permits and environmental certification already in place, and a prefeasibility study on a coal mine and a scoping study on a coal-fired thermal power plant completed.
Although changes have been made to certain sections of the latest draft of the third Mining Charter, some mining industry participants believe the charter will not benefit the industry. Unpacking the proposed ownership requirements for new mining rights as set out in the draft charter, in Johannesburg, on Thursday, law firm Fasken mining lawyer Godfrey Malesa noted that the charter stipulates that the new mining right must have a minimum of 30% black economic empowerment (BEE) shareholding, which must include an economic interest, as well as a corresponding percentage of voting rights.
JSE-listed diamond miner Trans Hex on Thursday reported a R186.8-million loss for the financial year ended March 31, 2018, with its loss a share amounting to 175.6c and its headline loss a share to 216.5c. The group’s net loss from discontinued operations, including retrenchment costs of R99.3-million, totalled R213-million, which was slightly augmented by revenue from its continuing operations, contributing to a gross profit of R20.3-million, compared with a gross loss of R9.2-million in the 2017 financial year.