 | |
| African Exploration Mining and Finance Corporation (SOC) LTD | |
| Founded | 1944 |
| Headquarters | 74 Waterfall Drive, Waterfall City, 2090, City of Johannesburg Metropolitan Municipality, Gauteng, |
| Total assets |
|
| Total equity | R 361 million (2019) |
| Parent | CEF, a parastatal owned by the government of South Africa |
| Website | www |
The African Exploration Mining and Finance Corporation (AEMFC) is a state-controlled mining business in South Africa.
The AEMFC was launched by Jacob Zuma, the former president of South Africa, prompting concerns that the state might attempt to nationalise parts of the mining industry. [2]
First established in 1944, it lay dormant for years, before beginning activities in 2007. It has been granted mining and prospecting rights, in competition with other mining companies. [3] AEMFC is, officially, subsidiary to the Central Energy Fund.
In February 2011, the AEMFC launched a coal mining project in Mpumalanga, which is expected to produce 1.68 million tons of coal per year. [4]
As of October 2012 [update] , AEMFC was still loss-making, but gets interest-free loans from the Central Energy Fund (R209M as of 2016). Performance of its coal, limestone, and uranium mines has been disappointing. [5] It moved into profit, by March 2013 stating a profit of R77M per year, and an equity of R490K, despite a loss of 54 409 tonnes of uninsured coal which was burned. [6]
AEMFC owns the Vlakfontein coal mine in Ogies which supplies the Kendal Power Station run by Eskom.
Mining is the extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agricultural processes, or feasibly created artificially in a laboratory or factory. Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay. The ore must be a rock or mineral that contains valuable constituent, can be extracted or mined and sold for profit. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even water.
The gross domestic product (GDP) of Niger was $16.617 billion US dollars in 2023, according to official data from the World Bank. This data is based largely on internal markets, subsistence agriculture, and the export of raw commodities: foodstuffs to neighbors and raw minerals to world markets. Niger, a landlocked West African nation that straddles the Sahel, has consistently been ranked on the bottom of the Human Development Index, at 0.394 as of 2019. It has a very low per capita income, and ranks among the least developed and most heavily indebted countries in the world, despite having large raw commodities and a relatively stable government and society not currently affected by civil war or terrorism. Economic activity centers on subsistence agriculture, animal husbandry, re-export trade, and export of uranium.
BHP Group Limited, also known as Broken Hill Proprietary Company and formerly as BHP Billiton is an Australian multinational mining and metals public company that was founded in August 1885 and is headquartered in Melbourne.
Tete is a province of Mozambique. It has an area of 98,417 km2 and a population of 2,648,941.
Anglo American plc is a British multinational mining company with headquarters in London, England. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore, polyhalite and steelmaking coal. The company has operations in Africa, Asia, Australia, Europe, North America and South America.
Sasol Limited is an integrated energy and chemical company based in Sandton, South Africa. The company was formed in 1950 in Sasolburg, South Africa, and built on processes that German chemists and engineers first developed in the early 1900s. Today, Sasol develops and commercializes technologies, including synthetic fuel technologies, and produces different liquid fuels, chemicals, coal tar, and electricity.
Consol Energy Inc. is an American energy company with interests in coal headquartered in the suburb of Cecil Township, in the Southpointe complex, just outside Pittsburgh, Pennsylvania. In 2017, Consol formed two separate entities: CNX Resources Corporation and CONSOL Energy Inc. While CNX Resources Corp. focuses on natural gas, spin-off Consol Mining Corporation, now Consol Energy Inc. focuses on coal. In 2010, Consol was the leading producer of high-BTU bituminous coal in the United States and the U.S.'s largest underground coal mining company. The company employs more than 1,600 people.
Kendal Power Station is a coal-fired power station in Mpumalanga, South Africa. It is sited in a coal-mining area; one of its sources is AEMFC's coal mine at Vlakfontein, near Ogies.
Coal India Limited (CIL) is an Indian public sector undertaking and the largest government-owned coal producer in the world. Headquartered in Kolkata, it is under the administrative control of the Ministry of Coal, Government of India.
The mining industry in India is a major economic activity which contributes significantly to the economy of India. The gross domestic product (GDP) contribution of the mining industry varies from 2.2% to 2.5% only but going by the GDP of the total industrial sector, it contributes around 10% to 11%. Even mining done on small scale contributes 6% to the entire cost of mineral production. Indian mining industry provides job opportunities to around 700,000 individuals.
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. By some estimates, it is the world's largest commodity trader, and among the world's largest companies.
Paladin Energy Ltd is a Western Australian based uranium production company.
The mining industry of the Democratic Republic of the Congo produces copper, diamonds, tantalum, tin, gold, and more than 70% of global cobalt production. Minerals and petroleum are central to the DRC's economy, making up more than 95% of the value of its exports.
Mining in South Africa was once the main driving force behind the history and development of Africa's most advanced and richest economy. Large-scale and profitable mining started with the discovery of a diamond on the banks of the Orange River in 1867 by Erasmus Jacobs and the subsequent discovery of the Kimberley pipes a few years later. Gold rushes to Pilgrim's Rest and Barberton were precursors to the biggest discovery of all, the Main Reef/Main Reef Leader on Gerhardus Oosthuizen's farm Langlaagte, Portion C, in 1886, which kicked off the Witwatersrand Gold Rush and the subsequent rapid development of the gold field there.
Hancock Prospecting Pty Ltd is an Australian-owned mining and agricultural business run by Executive Chairwoman Gina Rinehart and CEO Garry Korte. At various stages of its trading history, the company has been known as Hancock Prospecting Ltd, Hancock Resources Ltd, Hanwright Pty Ltd, Hancock & Wright Ltd, and Hancock Prospecting Pty Ltd.
Mining is the biggest contributor to Namibia's economy in terms of revenue. It accounts for 25% of the country's income. Its contribution to the gross domestic product is also very important and makes it one of the largest economic sectors of the country. Namibia produces diamonds, uranium, copper, magnesium, zinc, silver, gold, lead, semi-precious stones and industrial minerals. The majority of revenue comes from diamond mining. In 2014, Namibia was the fourth-largest exporter of non-fuel minerals in Africa.
The mineral mining industry is a crucial piece of the Economy of Niger. Exports of minerals consistently account for 40% of exports.
The Minerals Resource Rent Tax (MRRT) was a resource rent tax formerly imposed by the government of Australia on profits generated from the mining of non-renewable resources in Australia. It was a replacement for the proposed Resource Super Profit Tax (RSPT).
Mmamabula is a planned coal mine and coal-fired power station to the east of the main road and rail corridor in Botswana between Gaborone and Francistown and south of the Serorome River. The power station would be near to the village of Mmaphashalala. It is about 130 kilometres (81 mi) north of the capital city of Gaborone.
Mining is important to the national economy of Mongolia. Mongolia is one of the 29 resource-rich developing countries identified by the International Monetary Fund and exploration of copper and coal deposits are generating substantial additional revenue.
