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Africa News Digest
Monday 21 August 2017
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Workers call the situation "a jobs bloodbath"

The miner said it remains cautious about the state of the global market for both rough and polished diamonds, noting that financing challenges persist.

Israeli diamond billionaire Beny Steinmetz, four others, in custody of Israeli police on suspicion of fraud, forgery, obstruction of justice and bribery.

Zambia's state power company made the decision amid an ongoing dispute over the implementation of new electricity tariffs in the country.

The diamond miner decided to offload those units to focus on its Tongo-Tonguma project in Sierra Leone, which has the potential to generate earnings of $45 million a year.

Total in-situ are earth oxides are estimated to be in the range of 47 to 67%.

Researchers worked out a way for a canola oil polymer to trap mercury metal, mercury vapour and organo-mercury compounds

Chalkstone was born out of counter-insurgency tactics used by troops in Afghanistan, but its unique methodology is now being used by miners, which can map-out power structures and counter the potentially crippling risk of strikes and political opposition.

The company that unearthed the world's second-largest diamond but has so far failed to sell it, is mulling a partnership to sell the giant stone if a buyers is not found within the next six to eight weeks.

The Canadian diamond miner now expects to produce between 265,000 carats and 285,000 carats, compared with the previously targeted 290,000-310,000 carats.

The buyer, Perth-based Red 5, is also acquiring Saracen Mineral Holdings' King of the Hills mine.

The company will return a total of $3 billion to shareholders: $2 billion on the dividend side and $1 billion of share buybacks.

The world’s largest gold miner hopes to reach an agreement over claims against its subsidiary and the country’s current ban on mineral concentrate exports.

Partnership Africa Canada says the gold was one of the first legal gold purchases from the DRC.

Appeal hearing planned for March 2018.

These courses can help you identify and evaluate the risks involved in mining investments before it’s too late.

Shareholders hadn’t received dividends since 2015, when iron ore fell below $40 a tonne amid a global crash in commodity prices.

Labour disputes earlier in the year caused delays in the building of a new plant in its Cullinan mine in South Africa.

"Suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it."

Shares collapsed on the news to close almost 21% lower in London. Barrick, which has a 64% stake in Acacia, also fell in both Toronto and New York.

The Bokoni mine, a joint venture between Atlatsa and Anglo Platinum, produces around 150,000 ounces of platinum group metals per year.

Should the spinoff happen, AngloGold would be the latest miner to reduce exposure to South Africa, where political instability, controversial new mining rules and a stronger rand have made it less attractive to operate.

The country's Reserve Bank has ordered platinum and chrome miners to surrender 80 percent of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage.

South African miner Harmony Gold reported a 35 percent rise in full-year profit on Thursday and said it will look at growth, exploration and acquisitions to meet its 2019 production targets.

While suppliers are not required to comply with the 2017 Charter, the procurement targets for Holders indirectly require them to meet such targets to remain competitive.

De Beers Group today announced a US$3 million investment in a three-year partnership with Stanford Graduate School of Business (GSB) to empower young, aspiring entrepreneurs and established business owners in Botswana, Namibia and South Africa.

The government owes mining companies about $700 million in VAT reimbursements from before last year's suspension.

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