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Africa News Digest
Monday 1 May 2017
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Tungsten, tin, tantalum and gold are now also being illegally extracted and traded at sites under the control of armed groups in countries including Myanmar and Colombia.

Deal creates one of the largest diamond mines in West Africa.

The Russian miner wants to recover $271 million it lost when a state-backed company failed to complete the acquisition of a 50% stake in its Nkomati mine in South Africa.

Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.

The Africa-focused diamond producer aims to recover 300,000 carats from its Liqhobong mine by the end of the financial year.

Shareholders voted overwhelmingly in favour of the cash takeover, which will make the South African firm the world's No.3 palladium producer and No.4 platinum group metals miner.

BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and expectations for a surplus.

World number two gold miner increases output to 1.23m ounces in the first quarter – Ghana expansion will add more ounces from next year.

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

Africa-focused gold producer has confirmed "multiple opportunities for extending the life of the operation beyond the current four-year horizon."

Production for the first three months of the year slumped 37% compared with the same period of 2016.

Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.

Another 5% iron ore price drop Tuesday slashes $30 billion from top 5 producers' market value in one month.

The latest chapter in the Simandou case.

But market was in small deficit according to study.

The commodity is now trading below $70 a tonne and has just suffered its largest one-day percentage decline in over a year.

The lawsuit is against the government's order to Gran Colombia Gold to halt its Marmato project until it has further consulted with local residents.

After a 85% rise in 2016, iron ore prices are now down 3.2% so far this year, which has placed the commodity in a bear market.

Ore with 62% content in Qingdao fell almost 7% overnight, entering a bear market and erasing all of this year’s gains.

The Morila operation continues to deliver value in its post-mining phase while progressing plans to develop the site into a commercial agricultural hub after its closure in 2019, Randgold Resources chief executive Mark Bristow said at an on-site media briefing today.

The Kibali gold mine’s underground operation, which will significantly increase production, is on track to start commissioning in the third quarter of this year, Randgold Resources chief executive Mark Bristow said at a media briefing here today.

Trevali keeps its eye on being THE "pure play" solution as it moves toward closing the agreement with Glencore International to acquire the Rosh Pinah and Perkoa zinc mines.

A UK listed junior exploration company is hoping to switch Chad’s historic focus from black gold to the more traditional metallic variety with ‘potentially nation-building’ projects.

The stock shot up 13% in London Wednesday after Firestone announced it had unearthed an 110-carat yellow diamond, it’s biggest find so far at its Liqhobong mine.

Together these giant orebodies contain reserves worth $796 billion at today's gold price.

In a first for Madagascar, Sherritt International’s Ambatovy operation has commissioned their CYBERMINE heavy equipment, operator training simulators.

A family-run Yorkshire firm has just dispatched its largest order – nearly three miles of hoses to a diamond mine in Angola.

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