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Africa News Digest
Friday 20 October 2017
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A strong price recovery for the main commodities South Africa mines and exports has helped the country’s sector stage a turnaround in 2017, the first time in five years the industry is back in the black.

Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.

The deal does not mean Tanzania will immediately lift the demand for Barrick's subsidiary Acacia Mining to pay $190 billion in allegedly unpaid taxes.

Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.

Precious metals miner said its platinum group metals (PGM) operations had delivered "solid operational results" in the first-half of 2017, prompting an upward revision to its 2017 production forecast and a downward revision to guided costs.

Deal allows the Stellar to focus on its bigger Tongo-Tonguma project in Sierra Leone, which would be the country's second largest diamond mine ever.

Company said it expects production of between 50,000 and 55,000 ounces of gold from its new mine in south-western Mali to bring total metal production for 2017 to between 530,000 and 570,000 ounces of gold.

World's number one producer still confident it will meet 2017 production guidance.

Company is on track to begin commercial production before the end of the year, which would boost its annual production more than 70% to between 925,000 and 975,000 ounces of gold.

The company says that labour disruptions in South Africa and the confiscation of a parcel of diamonds by the Tanzanian government are to blame.

The 709-carat rock is the second-largest ever found in the West African nation.

The Gakara mine holds some high-grade rare earth elements, some of which are expected to become essential for the manufacturing of batteries, magnets and electric vehicles.

It's a 134 carat gem-quality light yellow diamond recovered at the company's its Liqhobong mine.

Mine is expected to generate about 300,000 ounces annually by late 2021/early 2022, increasing total PGM production from Sibanye’s operations in the US by more than 50%.

As the world’s premier precious metals equity event, the Gold Forum attracted 1,000 attendees who conducted a record 3,900 meetings.

Sampling work at Ontevreden, part of the Vutomi joint venture, seems to prove the presence of high-grade kimberlite pipes.

Company reached wage agreement with the main union at two of its mines in South Africa. Workers will return to work on Friday.

Discovered in February last year in eastern Angola, the 404.20-carat rough diamond was also the largest found so far in the southern African country.

Scientists say that under the peculiar conditions present deep in the Earth's mantle, iron carbonates can play a role in forming diamonds.

Stock closed 12.2% higher at 64.80p, after it had fallen on Tuesday to its lowest since late 2015.

Vehicles were carrying fuel to the company's Inata gold mine.

London-based Graff Diamonds paid nearly $47,777 per carat

The Canadian miner said measure was taken after violent groups blocked main road to the mine, which has prevented essentials from reaching the operation.

Public prosecutor for the state of Minas Gerais, where the iron ore mine is located, ordered the company to reschedule two public meetings as it had failed to inform of it to all communities potentially affected by the planned expansion.

Gold bars are not impacted by the export ban on gold and copper concentrate imposed by the Tanzanian government in March.

The Ity mine, in Côte d’Ivoire, has produced more than 1.2 million ounces of gold in its over 20 years of operations.

He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.

Zama zamas earn a pittance for work that puts their lives at risk on a daily basis

Shares in the diamond miner fell for a second consecutive day after it warned that two of its South african mines had been affected by strikes.

It will sell its newest mine to Harmony Gold for $300 million and another mine for 100 million rand ($7.4 million) to China's Heaven-Sent SA Sunshine Investment Company.

Company will pay $30 million for a 15 percent interest in a platinum project in the northern Waterberg region and had an option to acquire a majority stake in the development.

London's Court of Appeal opened the way for nearly 2,000 Zambian villagers can pursue a claim for damages.

Download the full ‘Mini-Report: The People Puzzle – Mining Talent for Mining Companies‘

Decision is in response to falling uranium prices, a local union leader said.

Juniors have been increasingly active in Mali, regarded as a relatively stable jurisdiction, where Legend has a portfolio of gold projects and licences covering nearly 400 square kilometres.

Blasting and explosives leader BME has broken the world record for the most electronic detonators fired in a single blast

The fate of IAMGOLD's Sadiola mine hangs in the balance as Mali's gold exports fall and production winds down.

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