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Africa News Digest
Tuesday 27 June 2017
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Shares in gold producer Acacia Mining, one of the firms accused of eluding taxes, fell by more than 18% to 18% to 355.70 pence on the news.

The company, which has been present in the south-eastern African country for more than a decade, says that by 2021 will be producing 3,000 tonnes of rare earths per year.

Gemfields has been at the centre of a bidding war between the South African private equity group and Fosun Gold, a unit of Fosun International.

Hundreds of villagers near the North Mara gold mine in Tanzania invaded the mine for several days last week in an attempt to steal gold ore.

South Africa-listed Pallinghurst now needs just 60% of Gemfields’ shareholders to back its unsolicited takeover offer.

The precious stones miner has recommended shareholders to accept offer, despite considering it “unfair.”

Workers at the mine downed tools over a week ago, angered by the company’s actions to eradicate illegal miners from its operations.

The country will require local miners to be 30% black-owned and has set a 12-month deadline for them to comply with the new rules.

Them mv SS Nujoma is the sixth diamond exploration vessel to join the fleet of Debmarine Namibia, a 50/50 joint venture between the government of that African country and De Beers.

It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.

Barrick confirmed chairman John Thornton met President John Magufuli for talks Wednesday, but didn't mention the details of what, if anything, had been agreed.

Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.

Cyclone Debbie forcing Asian steelmakers to diversify supply – Mozambique could be big beneficiary.

Government accused the gold miner of operating illegally in the country and said it has been evading taxes.

The last time Gem Diamonds had had made a significant discovery at its Letšeng mine before April this year was in 2015.

Is the bad and the ugly over and the good returning to the mining industry? PwC seems to think so.

Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.

Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.

It’s a buyer’s market—if you know what you’re looking for.

The growing market for electric vehicles will significantly impact demand for copper over the next decade, according to new research commissioned by the International Copper Association.

Power price resolution could come within ‘weeks’, chamber says

The group of 31 people arrested over the weekend at the copper-mining town of Chingola, includes a pregnant woman and two other people with malaria.

Exemption license for rough diamonds was reportedly denied

Expansion opportunity comparisons for Africa have been likened to the growth stories of China or India at the infancy of their economic transformations

Pala Investments Limited, a multi-strategy investment company focused on the mining and metals value chain, is pleased to announce the closing of its investment in Cobalt 27 Capital Corp. in connection with Cobalt 27's public offering of 22,222,225 common shares in the capital of Cobalt 27 on June 23, 2017.

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