'There have been tenders, lots of meetings, lots of promotional activities, but it’s only today that we have for the first time a legal document'
Africa Mining News
Revenue rose 22 percent in the quarter to $80.2 million from $65.8 million a year prior, despite diamond prices being 5 percent lower when compared to the same period of 2017.
Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.
He is said to have already begun training three to four people to succeed him in the job.
The government says that diamonds worth more than $1 million had been seized in the course of Operation Transparency.
The aim of the project is to improve the livelihoods of the beneficiary community and regional economy - Mining Ministry
The company is also seeking direct talks with the country's government, as it's been excluded so far from negotiations between controlling shareholder, Barrick Gold, and President John Magufuli.
Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes.
The news comes barely a week after the company said another worker had been released on bail after being charged with corruption.
Decision comes after the companies received Wednesday a preliminary geological assessment of the property, which shows Heritage contains several targets for modern alluvial diamond placer deposits.
Education and health are the way forward for Nigeria.
Shareholders getting impatient over the Gold Fields failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope.
They hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer.
The East African nation's deposits are often in remote regions where the country's poorest live, but experts say few have reaped the rewards from mining.
Dollar shortages are creating the risk of some mines shutting down, while investors calling for the removal of foreign exchange restrictions.
Global engineering, project delivery and operations management group, the DRA Group (DRA) has been confirmed as the preferred Engineering, Procurement, Construction & Management (EPCM) provider for the Colluli Potash Project (Colluli, or the Project), subject to completion of detailed contract terms.
The global coal mining market is growing, with a CAGR of close to 2% from 2018-2022.
Burundi has declared an end to a more than three-year political crisis and is seeking to attract investment to the landlocked nation.
The miner said it would take legal actions to force the central bank to give it US dollars for part of its gold output.
The decision to restart output at the mine comes despite plans by the government to hike mining taxes to bring down mounting public debt.
Africa's second-largest copper producer said late last month that it would introduce new mining duties and increase royalties to help bring down mounting debt.
The centuries-old diamond industry is getting shaken up by small producers and industry giants alike.
Bids for Optimum are expected to be finalized by the end of November, with due diligence starting on Monday.
Failing to get the project off the ground would deprive Mozambique of a source of revenue it’s come to rely on. Coal is Mozambique’s biggest export.
Head of the mines division said a previous production forecast of 59.3 tonnes of gold for 2018 had been marginally increased.