JOHANNESBURG (Reuters) &#8211; Anglo American Platinum (Amplats) (<a href="https://www.reuters.com/companies/AMSJ.J">AMSJ.J</a>) posted a 7% fall in half-year profit on lower output due to shutdowns caused by COVID-19 and cautioned that further closures and power outages could put its full-year guidance at risk.FILE PHOTO: A cow is seen near the AngloAmerican sign board outside the Mogalakwena platinum mine in Mokopane , north-western part of South Africa , Limpopo province May 18, 2016. REUTERS/Siphiwe Sibeko/File Photo



Shares in one of the world’s biggest platinum producers, which have soared since mid-March, fell almost 4% before recovering to trade flat on the day as Amplats said it expects production to improve in the second half and declared an interim dividend.



Headline earnings per share, the main profit used in South Africa, for the six months to June 30 fell to 26.27 rand per share compared with 28.15 rand a year earlier.



Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 6% to 13.1 billion rand, driven by sharply higher metals prices.



Amplats said it expects output to improve in the second half despite a 25% decline in year-on-year in platinum group metals (PGM) production to 1.6 million ounces due to shutdowns in South Africa and Zimbabwe.



Refined PGM production fell 49% due to power cuts and repairs at its ACP processing facilities 141 kms (88 miles) from Johannesburg after a blast forced it to declare force majeure.



“We expect to see a stronger production performance in H2 2020, but caution that significant headwinds still exist,” said Amplats CEO Natascha Viljoen.



Viljoen, who was appointed CEO in April, said output capacity levels were around 80% by the end of June and expected to increase to 95% by the end of the year.



Amplats said the possibility of further COVID-19 shutdowns, repairs at its plant and power outages could impact its ability to meet year end guidance of 3.1 to 3.6 million PGM ounces.



Mining companies in South Africa are anxious about managing COVID-19 and preventing outbreaks at mine sites where workers are in close quarters and confined spaces.



Viljoen said Amplats expected platinum, rhodium and palladium to be in deficit in the global market for the remainder of 2020 but expected platinum, the majority f which is mined in South Africa, to return to a surplus in 2021 as supply recovers.

open-pit-mining-3559203_960_720

Amplats profit falls as COVID-19 shutdowns weigh, sees H2 output recovery

ABUJA (Reuters) &#8211; Nigeria hopes changes it has made to gold mining regulation will earn the government $500 million a year in royalties and taxes and create 250,000 jobs, President Muhammadu Buhari said on Thursday.



The reforms have made artisanal mining legal and will create gold buying centres and tax trade of the precious metal, Buhari said in a statement.



“These operations will help in diversifying our revenue base,” said Buhari.



Nigerian authorities have said illegal mining, prominent in the northwest, has fuelled widespread violence they attribute to “bandits”. Thousands of people have been killed in the region in recent years and swathes of the region are inaccessible. The military is deployed to tackle the insecurity but the conflict shows little sign of ending.



The extra revenues from gold could be a lifeline as the coronavirus pandemic and resulting global oil price crash cut off much of the state’s income.



Buhari said the country has lost a total of $3 billion from 2012 to 2018 because of illegal gold mining.



In February, Nigeria licensed two gold refineries mainly to produce gold for the central bank to hold in its reserves but also for export. The bank received its first locally-produced gold bar on Thursday.



Nigeria has largely untapped deposits of 44 minerals including gold, iron ore, coal, tin and zinc, in more than 500 locations, but mining makes up just 0.3% of the economy

Investors rushing for gold amid COVID-19 fears

Nigeria hopes gold mining reforms can bring in $500 million a year

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South Africa’s GDP for the first quarter of 2020 decreased by 2 per cent. The two biggest negative contributors to growth in GDP for the first quarter were the mining and manufacturing industries. Isaah Mhlanga, Chief Economist at Alexander Forbes joins CNBC Africa for more.

COVID-19: SA’s Q1 GDP decreases by 2%

Is SA’s mining industry too deep in the COVID-19 crisis? How can it become the sunrise industry it wants to be?



For more than a century mining was the backbone of South Africa&#8217;s economy in recent years, it fell on hard times. Despite this, it still managed to contribute close to R361bn or 8.1% to SA’s GDP and over R91bn to fixed investment in 2019.  It employed 454,861 people and paid R24.3 billion in taxes. What was the impact of COVID-19 and lockdowns on the industry? Did it put mining too deep in the COVID-19 crisis? How can it once again become the sunrise industry it wants to be? <a href="https://cvent.me/2PQoZk">Register today</a> for this virtual panel discussion to find out…



<a href="https://cvent.me/2PQoZk">REGISTER NOW</a>: <a href="https://cvent.me/2PQoZk">https://cvent.me/2PQoZk</a>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="581" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1110x581.jpg" alt="" class="wp-image-371919" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1110x581.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-696x364.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1068x559.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3.jpg 1200w" sizes="(max-width: 1110px) 100vw, 1110px" /></figure>



Speakers Fortune Mojapelo, CEO,  Bushveld Minerals Deshnee Naidoo, former CEO, Vedanta Zinc International and board member, Minerals Council South Africa



Peter Steenkamp, CEO, Harmony



Roger Baxter, CEO, Minerals Council South Africa



TOPICS COVERED



<ul><li>What measures are in place to help South Africa’s mining sector bounce back from the COVID-19 headwinds and lockdown?</li><li>Is it enough?</li><li>Rebuilding the mining industry for tomorrow</li></ul>

The 4 most under-reported stories on the COVID-19 pandemic

Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…

By Chris Bishop 
Most mines in South Africa – one of the world’s mining capitals – are either shut down or working at reduced output as COVID-19 takes its toll. All but those mines digging vital minerals – like coal for power generation – closed their shafts for fear the disease may spread in the often difficult hot and wet conditions deep underground. 
South African mines have proved resilient since George Harrison first uncovered gold in 1886 in open bush that is now the heart of Johannesburg. They hummed through two world wars and yet a war closer to home and a violent revolt in Johannesburg, the city that gold built, saw the mine shafts shut down. 
The current lockdown for 21 days will be the joint longest for nearly a century. The last time the mines shut down for three weeks was during the 1987 strike when 230,000 miners downed tools between August 10 and 31. One of the architects of the 1987 strike – seen as a kick against apartheid – was a young lawyer by the name of Cyril Ramaphosa. He led the fledging National Union of Mineworkers, which he founded in 1982, after being seconded to the mining industry by the African National Congress. The shutdown saw deaths and hundreds of thousands of dismissals. 
More peaceful was the more recent shut down in January 2008 when Eskom simply ran out of electricity. The gold and platinum mines closed for at least five days; Eskom declared force majeure and production resumed – under 10 to 20% power reductions &#8211; early in February. 
Surprisingly the mining industry survived both world wars. As thousands of black and white South Africans marched off to battle fields across the continent and in Europe the miners went underground to help finance the allied war effort. Britain struck a deal for cut price gold from the Witwatersrand to fund the First World War and was miffed, to say the least, when South Africa demanded full price again after the armistice in 1918. 
This signalled hard times for South African mines.When many white the soldiers returned to South Africa, many complained they were being replaced by cheaper black miners as the mines cut cost. It led to the violent 1922 Rand Revolt when all the Witwatersrand gold mines closed for 10 weeks. 
The strike started on 10 January 1922, halting all gold mining activities, from Springs in the east of Johannesburg to Randfontein in the west. More than 220,000 mine workers downed tools shutting 40 gold mines. 
Planes dropped bombs from the blue, artillery shelled suburban houses, riflemen fought street battles, snipers fired from bedroom windows and tanks rumbled through the suburbs. The fighting around the mines saw 200 people killed and more than a 1000 injured. 
In Brixton – a working class suburb near the centre of Johannesburg – more than 1500 strikers besieged 183 police; warplanes swooped to drop food for the police and returned to drop bombs on the strikers. The attackers fired back shooting one of the aircrew through the heart. The strike was called off on March 17 and the mines went back to work. 
A war closer to home caused the longest closure of the mines. When the South African War broke out on October 11 1899. Many mines were not put on care and maintenance and were allowed to flood. It was only after Johannesburg was captured by the British on 1 June 1900 – nearly nine months later &#8211; that a few mines began production again. The gold mines in what is now Mpumalanga – Pilgrim’s Rest and Barberton-, which was the other major gold mining area after the Witwatersrand, were also closed during the war.

This is how war and revolt have done worse to the mines than COVID-19.

The following is a media statement on behalf of South Africa&#8217;s Department of Mineral Resources and Energy:



REMARKS BY MINISTER
OF MINERAL RESOURCES AND ENERGY, MR GWEDE MANTASHE UNPACKING MINERAL AND ENERGY
INDUSTRIES’ RESPONSE IN PREPARATION FOR A NATIONWIDE LOCKDOWN, 25 MARCH 2020



The Department of Mineral
Resources and Energy yesterday met key stakeholders in the mining and energy
industries to consolidate plans to deal with the spread of Covid-19. This is in
support of the decisive action by the President of the Republic, HE Cyril
Ramaphosa, to institute a nationwide lockdown from 23:59pm on Thursday 26th
March 2020. 



Working together with the South
African Petroleum Industry Association, the Minerals Council SA and in
consultation with labour unions, we have developed a framework through which
these industries will implement the envisaged directives. 



This is being done in order to
safeguard the lives of people, while ensuring that the limited economic
activity which will be undertaken during this period is supported. 



In all our undertakings, we are
considering the health, security as well as socio-economic impact of COVID-19
on these industries. The industries will be required to prioritise the health
and safety of employees, suppliers, contractors and other relevant personnel. 



While demand is expected to
decline in the period ahead, as a result of restrictions on economic activity,
security of energy supply remains critical. The supply of fuel to the relevant
critical and essential services, as well as the supply of coal to Eskom for
electricity supply and liquid fuels production, are critical during this
period. 



We are mindful that in some
mining operations and processing plants a complete shutdown will not be
feasible, as a restart from scratch may be too costly. This would negatively
affect security of supply, and therefore the economy as a whole. 



We are adopting a risk-based
approach, with worst-case scenario planning, and all companies are required to
ensure that their business continuity plans are fit for purpose.



Broadly, the following are
measures being proposed for implementation:



MINING



<ul><li>Mining operations will be scaled down significantly, particularly deep level mining, which is labour intensive.</li></ul>



<ul><li>Essential services supporting the sector, including security and related infrastructure, maintenance, water pumping, refrigeration and ventilation will continue. </li></ul>



<ul><li>Mines supplying coal to Eskom will remain in operation, albeit at reduced production levels. </li></ul>



<ul><li>For exports, each case will be evaluated on its merits.  </li></ul>



<ul><li>Services being rendered to communities, such as the supply of water, will continue.</li></ul>



<ul><li>Production in the gold, chrome, manganese and other sectors will be scaled down; while the processing of surface material in the PGMs sector will continue for the production of – among others medical products. This will allow smelters, which cannot be switched on and off abruptly, to remain operational.</li></ul>



<ul><li>In order to contain the spread of COVID-19, travel will be restricted, in line with regulations to be outlined by the Minister of COGTA.</li></ul>



<ul><li>The Minerals Council has committed to avail its health infrastructure &#8211; facilities and staff – during the lockdown, to support Government efforts. </li></ul>



ENERGY



The following activities are
among those which will be considered an essential service:



<ul><li>The production and distribution of petroleum products, including fuel, paraffin and liquefied petroleum gas. This entails shipping, manufacturing, terminals, distribution and retail.</li></ul>



<ul><li>In the case of petroleum products, imports will be scaled back for the duration of the lockdown, as there will be excess capacity</li></ul>



<ul><li>Regulatory oversight on nuclear facilities, as well as nuclear safeguard inspections.</li></ul>



<ul><li>Production and supply of nuclear medicines and chemicals used at refineries.</li></ul>



<ul><li>The Safari-1 research reactor and support technical services.</li></ul>



Engagements are ongoing between
the sectors, the relevant government departments and state-owned entities. We
will continue to provide updates as the situation unfolds.



Thank you.



Issued
by Government Communication (GCIS) on behalf of the Department of Mineral
Resources and Energy 



25 March 2020



For more coverage on COVID-19 visit: <a href="https://www.cnbcafrica.com/covid-19/">https://www.cnbcafrica.com/covid-19/</a>

Mining to be scaled down during South Africa’s 21-day lockdown

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Nigeria’s Minister for Mines and Steel Development, Olamilekan Adegbite, says the country’s mining potential can surpass oil and gas. Meanwhile, data from the National Bureau of Statistics shows that Nigeria’s Mining and Quarrying sector contributed 8.85 to the 2019 GDP lower than the 10.68 per cent recorded in 2018. Joining CNBC Africa to make the investment case for Nigeria’s Mining sector is Cyril Azobu, Partner and Head of Consulting and Mining Leader at PwC.

The investment case for Nigeria’s mining sector

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On the topic of Tanzanian mining, the Arbitration Bill 2020 indicates disputes between three mining companies which were cited over cancelled retention licenses. Despite this there&#8217;s still quite a bit of exciting activity coming out of the sector. Bankable Partner, Ivan Tarimo joins CNBC Africa for more.

Here’s why Tanzanian mining sector is registering strong growth

By Shirley Webber, Coverage Head Natural Resources at Absa Corporate and Investment Banking (CIB). Global investor interest in Africa’s mining sector remains strong despite various challenges facing the sector. The African continent has vast resources with sustainable future growth in the&nbsp;exploration and development of commodities, and therefore the growing demand for these strategic resources by foreign investors and commodity users worldwide in the long term. 



However,
to harness this interest, stable political environments, compliance with
legislation, stable labour relations and regulatory certainty will be key to ensure
the continent remains an attractive destination for mining investment. 



The
regulatory environment must be certain and consistent from one year to the next
because mining is a long-term business, and from a bank’s view, it is a three
to five-year investment. Therefore, both banks and shareholders need
consistency, be it regulations or aspects like royalty taxes for example.



The
regulatory environment across some African countries is improving for the
mining and metals sector as governments realise the importance of providing
certainty to attract new investment. As a result, some investors have been
considering green-fields projects, especially in West and East Africa. There’s
a renewed focus on battery minerals as well and this is evident in the drilling
activity on the African continent over the last two years. Increased capital
expenditure is envisaged in gold, copper, lithium, mineral sands, cobalt and
graphite. 



There
is a more collaborative approach between governments and investors in order to
attract sustainable investment in the regions. The key to unlocking investments
into Africa is for industry stakeholders to continue to collaborate responsibly
to promote investment in mining and ultimately economic growth in the countries
they operate.



Equally
important will be the availability of reliable cost-effective power supply. For
example, there have been power cuts in South Africa, and this has affected
mining companies. Mining companies prefer certainty about the available power
so that they can manage their cost structures and plan production accordingly.
In the rest of Africa similar energy crisis situations are evident, therefor
the need for more renewable energy sources, thereby curbing power interruptions
and costs in the long-run.



Because
mining is a capital-intensive business, factors such as rising production
costs, infrastructure challenges, electricity supply as mentioned and rising labour
costs continue to be of major concern to mining companies. &nbsp;And these are issues which need to be dealt
with responsibly. 



As
costs rise and margins come under pressure, diversification will be important
for the mining and metals industry to ensure that companies remain competitive
with volatile economic cycles and commodity prices. &nbsp;



Diversification
is a key differentiator as it is not only about &nbsp;various commodities but also geographical
diversification too. Some of the mining companies are expanding into both
Africa and globally. On the other hand, consolidation remains a key theme that
includes large players forming one entity for efficiencies or even selling of
parts of the value chain. 



The long term sustainability is dependent
on sourcing, developing and mining high grade reserves. Change
in the reserves’ estimates or development prospects pose a risk to mining
companies. It will however be important to achieve efficiencies particularly as
the cost of extraction continues to rise due to the geology of some minerals
which is forcing mining companies to access more difficult reserves underground.
It is important to focus on enhancing operational efficiency to perhaps look at
inclusion of automation and new technologies where applicable.



Equally
of concern to mining companies is the volatility in commodity and foreign
currency markets which will need appropriate risk management strategies in
order to ensure financial institutional funding of investments in mining. Innovative hedging solutions to clients who have
exposures to interest rate fluctuation, foreign exchange fluctuation and
commodity variability are necessities for operational project success. 



Banks
such as Absa, which is one of the 130 banks from 49 countries who are
signatories to the United Nations Principles for Responsible Banking, now have
an increasing and important role to play by funding not only commercially
viable projects but also ensuring that they complied with sustainability
principles which align business strategy to society’s goals. 



The
key role of a bank like Absa now includes making sure that where we provide
funding, the economy and communities benefit. Going forward when considering
funding of certain commercially viable projects which include natural resources
and extraction, lenders will place additional focus on the positive impact of
funding and whether it aligns with a country’s developmental goals, the
environment and its people. 



Non-compliance
with environmental laws can lead to production interruptions, reputational
damage, and substantial fines/clean-up costs. Mining operations are subject to
various stringent and complex environmental, health and safety laws and
regulations. In this respect, capital providers can guide their clients and
stakeholders in their requirements for funding by applying the Equator
Principles which include applicable IFC Performance Standards on Environmental
and Social Sustainability Guidelines for various sectors and for funding
natural resources and extraction transactions.

#MiningIndaba2020: Global investor interest in mining in Africa remains high, but more can be done…

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Sibanye-stillwater, a 38 per cent shareholder in DRDgold, has exercised its option to acquire an additional 12 per cent interest in the company. The mining giant now has a majority stake of just over 50 per cent in DRDGold. Neil Pretorius, CEO of DRDgold joins CNBC Africa for more.

Sibanye-stillwater takes additional 12% stake in DRDGOLD for R1bn

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The International Monetary Fund (IMF) says its outlook for Ghana remains favourable and expects the country’s growth to average around 5 per cent over the next few years supported by new potential oil discoveries and mining. The fund disclosed this following the conclusion of its Article IV Consultation with Ghana. As Ghana heads into an election year in 2020, John Ashbourne, Senior Emerging Markets Economist at Capital Economics joins CNBC Africa for an outlook on Ghana’s economy.

IMF: How new oil discoveries and mining will impact Ghana’s economic outlook

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Tanzania’s GDP growth has grown by 7.2 per cent year on year in Q2 up from 6.1 in the same period last year. It’s reported that growth in construction, mining and comms sectors are to thank. Analyst and Bankable Partner, Ivan Tarimo joins CNBC Africa for more.

Construction

Construction, mining & comms credited as catalyst for Tanzania’s Q2 growth

(Reuters) &#8211; Barrick Gold Corp said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia, which Barrick bought in a $1.2 billion transaction approved by a British court last month.



The tax deal includes the payment of $300 million to settle outstanding tax and other disputes, the lifting of a concentrate export ban, and the sharing of future economic benefits from mines on a 50-50 basis, Barrick said in a statement on Sunday.



&#8220;Barrick is definitely back in Tanzania,&#8221; Barrick president and chief executive Mark Bristow told reporters in Dar es Salaam, Tanzania’s commercial capital on Sunday.



&#8220;A true partnership can only be described when you have 50/50 and our joint venture with the government of Tanzania is exactly that &#8211; a committed partnership to develop Tanzania’s gold assets for the benefit of all stakeholders,&#8221; said Bristow.



A new operating company named Twiga Minerals will be formed to manage the Bulyanhulu, North Mara and Buzwagi mines after a review by Tanzania&#8217;s attorney general, the statement added.



Under the agreement, the Tanzanian government will also buy a 16% shareholding in each of the mines.



&#8220;This company has been registered in Tanzania and it will be headquartered in Mwanza, Tanzania,&#8221; Palamagamba Kabudi, Tanzania’s foreign minister said.



Kabudi, speaking at the news conference, said the deal marked a new partnership with Barrick under the new Twiga Minerals name.



&#8220;Twiga will make our new partnership an example to other mining ventures who are investing in Tanzania and who want to invest in Tanzania.&#8221;



He said details of the deal would be submitted to the country&#8217;s attorney general for review and he expected that to be completed by November 15.



An Africa-focused international dispute resolution framework will also be established as part of the agreement, Barrick said.



The deal comes days after the Canadian company fell short of analysts&#8217; estimates for third-quarter gold production due to low output at its North Mara mine in Tanzania.



(Reporting by Sabahatjahan Contractor in Bengaluru and Nuzulack Dausen in Dar es Salaam Editing by David Holmes and Jane Merriman)

What you need to know about Barrick Gold’s deal with Tanzania over Acacia Mining

JOHANNESBURG (Reuters) &#8211; Sibanye-Stillwater is in talks over a potential acquisition of the world’s deepest gold mine, Mponeng, as current owner AngloGold Ashanti plans its South African exit, Sibanye said on Thursday.



A spokesman for the diversified miner confirmed the talks, after AngloGold said in May that it would review divestment options for Mponeng and other South African assets to focus on higher returns elsewhere.



“We have said we are open minded to the opportunity,” Sibanye chief executive Neal Froneman said.



“We are not panting after more deep-level gold mines but there are significant synergies and opportunities between Driefontein and Mponeng.”



He declined to comment further due to a non-disclosure agreement.



Sibanye swung into the red in the first half as a five-month strike at its South African gold operations weighed on profits despite improved financial results from the South African and U.S. platinum group metals (PGMs) operations.



Sibanye on Thursday reported a headline loss for the six months to end June of 54 cents per share, compared with a profit of 4 cents per share a year before.



“We have successfully navigated our way through this challenging period and I am confident that we have emerged in a stronger position,” Froneman said in a statement.



A five-month strike at the firm’s gold operations over pay and job cuts, which ended in April and cost Sibanye more than $100 million in lost revenue, also hit gold output.



Bullion production for the period fell to 344,752 ounces from 598,517 ounces a year earlier.



The miner, which is currently engaged in wage negotiations in the platinum sector, said it would be able to sustain a strike in the sector but that it was an unlikely scenario as negotiations were ongoing.



The sector’s majority union the Association of Mineworkers and Construction Union (AMCU), which originally demanded a hike of around 48%, said earlier this month that the offer by Sibanye for the Lonmin operations was a “slap in the face”.



Sibanye, which concluded the Lonmin acquisition in June to become the world’s second-largest platinum producer, said the assets were currently under a review which would be concluded during the third quarter.



“Whilst the improved PGM price environment may justify extending the operating lives of some of these operations, thereby mitigating the impact on job losses, a number of shafts have finite reserves and derive limited benefit from higher PGM basket prices,” Sibanye said.



Platinum prices are up 15% this year, while those of sister metal palladium are nearly 17% higher.



Froneman said a supportive precious metals price and a positive operational outlook would benefit earnings and cash flow in the second half, enabling it to pay down debt and possibly resume cash dividends payments in 2020.



Sibanye last paid a dividend in February 2016.



The firm said debt reduction will continue to be a priority after it was delayed by the impact of this year’s strike on its South African gold business.



Reporting by Tanisha Heiberg; Editing by Susan Fenton, Kirsten Donovan

Sibanye-Stillwater in talks over potential acquisition of AngloGold Ashanti’s Mponeng mine

JOHANNESBURG (Reuters) &#8211; A Johannesburg High Court on Friday approved a 5 billion rand ($353 million) class action settlement between gold mining companies and law firms representing thousands of miners who contracted the fatal lung diseases silicosis and tuberculosis.



The settlement follows a long legal battle by miners to win compensation for illnesses they say they contracted over decades because of negligence in health and safety.



“All the parties made an effort to ensure that the settlement agreement is reasonable, adequate and fair,” the High Court said in its judgement.



The gold producers agreed in May last year to the settlement but it needed to be approved by the Johannesburg High Court before being implemented.



The class action suit was launched in 2012 on behalf of miners suffering from silicosis, an incurable disease caused by inhaling silica dust from gold-bearing rocks.



It causes shortness of breath, a persistent cough and chest pains, and also makes people highly susceptible to tuberculosis.



The companies involved are Harmony Gold, Gold Fields, African Rainbow Minerals ARIJ.J, Sibanye-Stillwater SGLJ.J, AngloGold Ashanti and Anglo American South Africa. The latter no longer has gold assets but historically was a bullion producer.



($1 = 14.1591 rand)



Reporting by Tanisha Heiberg. Editing by Jane Merriman

What you need to know about the $353 million silicosis settlement between gold mining companies and law firms representing thousands of miners

JOHANNESBURG (Reuters) &#8211; Mining company Vedanta said on Thursday that it is seeking an urgent court order in South Africa to prevent Zambia’s mining investment arm ZCCM from winding up its disputed Konkola Copper Mines (KCM) business.



Vedanta is locked in a dispute with the Zambian government, which accuses KCM of breaching the terms of its licence.



Vedanta denies that KCM has broken the terms of its licence and says it will defend its assets in Zambia, Africa’s second-biggest copper producer.



The case has intensified concerns among international miners about resource nationalism in Africa.



A ZCCM spokeswoman was not immediately available for comment.



Vedanta said in a statement that it had obtained a temporary order in South Africa’s High Court allowing it to make an urgent request on July 16 for an injunction against ZCCM and a provisional liquidator at KCM.



Vedanta holds a majority stake in KCM, with ZCCM holding a minority stake.



“Vedanta will seek an interim court order declaring that ZCCM has breached the KCM shareholders’ agreement by pursuing winding-up proceedings against KCM in Zambia, and directing ZCCM to withdraw those proceedings,” the statement added.



Vedanta applied to the South African court because the KCM shareholders’ agreement makes provision for arbitration in South Africa.



Reporting by Alexander Winning, editing by Deepa Babington

What you need to know about Vedanta’s appeal to South African court to protect Zambian business

NAIROBI (Reuters) &#8211; Kenya’s government, and oil firms Tullow Oil, Total and Africa Oil Corp have signed agreements for the development of a 60,000-80,000 barrels per day crude oil processing facility for oil discovered in the country’s north west, the Petroleum and Mining Ministry said on Tuesday. 



The ministry said on Twitter the Heads of Term agreements were for discoveries in Blocks 10 BB and 13T in South Lokichar Basin.



Reporting by George Obulutsa, editing by Louise Heavens

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