JOHANNESBURG, Dec 14 (Reuters) – Mozambique plans to take
advantage of massive gas reserves to develop domestic industries
as well as export liquefied natural gas, boosting government
revenue by $6-$8 billion a year, the latest draft of its master
Some 150 trillion cubic feet of gas have been found off its
shores so far, enough to supply Germany, Britain, France and
Italy for 15 years, and the government and companies scouting
wells have estimated there may be potential to double that
MAPUTO, Dec 13 (Reuters) – Depressed coal prices, tight
capital markets, shoddy railways and ports have cooled
Mozambique’s coal bonanza and will delay export projects aimed
at supplying booming demand in Asia.
The former Portuguese colony has been the new darling of the
industry, with its north-central Tete province boasting some of
the world’s largest untapped reserves of thermal coal for power
generation and coking coal for steel production.
JOHANNESBURG (Reuters) – South African petrochemicals group Sasol (SOLJ.J: Quote, Profile, Research, Stock Buzz) said its expectations for a strong year had been boosted by a good quarterly performance at its synthetic fuels unit.
“We remain confident that, based on the production guidance and our macroeconomic assumptions, we will deliver solid operational performance and earnings for the (2012/13) financial year,” chief financial officer Christine Ramon said on Monday.
MAPUTO, Nov 23 (Reuters) – Mozambique does not plan to seek
overly high state and local participation in mining, beyond
current totals of 5-20 percent, to keep attracting vital
investment, the head of the state-owned mining company said.
While some southern African politicians have campaigned to
nationalise mines or demanded that 51 percent stakes in
companies be given to local black people, as in Zimbabwe,
Antonio Manhica said his government would seek to balance the
interests of the country with those of investors.
Maputo, Nov 21 (Reuters) – Mozambique plans to solicit
international bids for a $2 billion railway and port development
project next month to boost its coal exports, the chairman of
state-owned rail and ports group CFM said on Wednesday.
Infrastructure bottlenecks are the main headache for mining
companies eager to participate in Mozambique’s coal rush and
various firms have proposed projects to either upgrade old and
dilapidated rail lines or build new ones.
JOHANNESBURG, Nov 7 (Reuters) – Coal companies in South
Africa signed a surprise wage deal with unions on Wednesday in
an effort to avoid a wave of deadly illegal strikes that have
rocked the country’s gold and platinum sectors.
The Chamber of Mines said the companies, which include Anglo
American, had agreed to raise certain entry-level wages
by up to 5 percent and offered one-off payments to higher
categories of workers.
JOHANNESBURG (Reuters) – Striking miners at AngloGold Ashanti will return to work on Sunday at two mines where operations were suspended this week in a dispute over bonus payments, the world’s third largest bullion producer said.
The disruptions underscored the residual tensions between management and staff despite the official resolution of the worst industrial unrest in the mining sector since the end of apartheid almost two decades ago.
JOHANNESBURG (Reuters) – AngloGold Ashanti (ANGJ.J: Quote, Profile, Research, Stock Buzz) suspended operations at one of its South African mines on Friday, a sign that labor tensions continue to bubble in the sector despite the official resolution of weeks of wildcat walkouts.
The world’s third-largest bullion producer said workers halted production at its TauTona mine, 65 km (40 miles) west of Johannesburg, with a sit-in protest over bonus payments.
JOHANNESBURG (Reuters) – An illegal strike at Kumba Iron Ore’s Sishen mine in South Africa ended on Tuesday after police arrested 40 miners while other mining firms threatened mass dismissals to try to halt the unrest.
In a pre-dawn raid, police recovered Kumba’s trucks and bulldozers seized by the strikers who had blockaded the pit for almost two weeks.
JOHANNESBURG (Reuters) – Striking gold miners in South Africa have rejected the industry’s latest wage offer, a trade union said on Thursday, dimming hopes that wildcat strikes that have paralyzed the sector could end anytime soon.
Since August, almost 100,000 workers across South Africa – including 75,000 in the mining sector – have downed tools in often illegal and violent strikes that are hitting economic growth and undermining investor confidence in the minerals hub.