PwC Report Documents South Africa’s Mining Industry Challenges

The financial year to June 30 was extremely challenging for South Africa’s mining industry, PwC stated in the seventh annual edition of its SA Mine series. Local cost pressures, labor action, and the ongoing downswing in commodity prices resulted in shrinking margins, as mining companies grappled to improve productivity and find a place in the demanding global and local mining environment.

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Asanko Targeting Early 2016 for First Gold Pour

Asanko Gold reported that Phase 1 of its Asanko gold mine project in Ghana is on track to pour its first gold in early 2016. As of mid-September, procurement for the project was complete, and the project was on budget, with $180 million of the planned $295 million capital cost spent.

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Randgold and AngloGold Combining to Revive Obuasi

Randgold Resources and AngloGold Ashanti have concluded an investment agreement aimed at the formation of a joint venture to redevelop and operate AngloGold Ashanti’s underground Obuasi gold mine in Ghana. AngloGold Ashanti converted Obuasi to limited operations at the end of 2014, ceasing underground production and retrenching the workforce, but continuing to process tailings and starting a feasibility study on the redevelopment of the mine.

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African Potash Finds Buyers for Lac Dinga Potash Fertilizers

African Potash, which is developing the Lac Dinga potash project in the Republic of Congo, signed three potash fertilizer supply agreements in late August and early September. On August 24 and September 1, respectively, the company reported signing of agreements to supply 50,000 mt/y of fertilizer each to a Zambian fertilizer supply company and a Malawian fertilizer supply company. On September 3, the company reported signing an agreement to supply 150,000 mt/y of fertilizer to a Zimbabwean fertilizer supply company.

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