Africa

Vancouver miner faces civil suit alleging 'slave labour' amid takeover rumours

Business in Vancouver | November 21, 2014
Bisha project Nevsun Resources Eritrea

Nevsun Resources faces rumours of $1 billion acquisition and civil suit on same day.

Marin Katusa: winter is coming—how investors can win in the 'Colder War'

The Energy Report | November 20, 2014

Casey Research energy strategist Marin Katusa cautions that Russia and China have forged an alliance with the goal of world supremacy through control of the energy market and Vladimir Putin is winning.

Gold Fields Q3 drops, CEO says most gold miners ‘under water’

Cecilia Jamasmie | November 20, 2014
Gold Fields Q3 drops, CEO says most gold miners ‘under water’

The miner, structured to "break even" at $1,050 per ounce, warned it would have to re-think the business if bullion prices dip below $1,000 and stayed there for a while.

South African miners to tackle lung disease claims

Cecilia Jamasmie | November 18, 2014
South African miners to tackle lung disease claims

They will look at compensation and medical care for workers with occupational lung disease or "silicosis."

Blood diamonds still at Central African mining sector’s heart

Cecilia Jamasmie | November 18, 2014
Blood diamonds still at Central Africa mining sector’s heart

A year after an export ban on raw gems in the country, reports show its diamonds are being sold to traders from Sudan to Belgium.

Iron ore price crashes 4%

Frik Els | November 18, 2014
Iron ore price crashes 4%

Drops to June 2009 levels on the way to $70 a tonne after Chinese house prices fall for sixth month in a row.

South Africa mine-killing probe draws to close after 2 years

Bloomberg | November 16, 2014

More than two years after 34 protesters were killed in the deadliest police action in South Africa since the end of apartheid, the state is completing its investigation.

Africa’s hope at Brisbane G20 Summit

Summit

As usual the leaders of the G20 countries will be deliberating on issues that will have ramifications for not only their respective economies but also the rest of the world, including those who will not be represented at the deliberations.

Burkina Faso uprising: what are the risks for gold miners?

Sprott Thoughts | November 13, 2014

In Burkina Faso, protesters wanting to prevent President Blaise Compaoré from serving another term had stormed the Parliament and set it ablaze.

S. African mining shows decline in financial performance

CNBC Africa | November 12, 2014

The country's mining industry sees a decline in financial performance in the wake of continued labour unrest and cost pressures.

What slowdown? Mining equipment market to grow 8.4% a year

Frik Els | November 11, 2014
What slowdown? Mining equipment market to grow 8.4% a year

Mining equipment market to grow at compound annual rate of 8.42% to $134 billion through 2019 surpassing the market for construction equipment.

Weak oil price, currencies helping miners stay afloat

Frik Els | November 11, 2014

A simple rule of thumb is that price changes have a two-to-one impact on the bottom line, while cost changes have a one-to-one impact.

Gold down again, some miners selling at loss

Cecilia Jamasmie | November 10, 2014
Gold down again, some miners selling at loss

Friday’s rally was just a brief break for the precious metal.

Eastern Platinum disposes of platinum assets

African Review | November 10, 2014

Eastern Platinum Limited has reached an agreement with Hebei Zhongbo Platinum Company Limited for the disposal of its platinum group metal operations in South Africa.

BHP closer to unveiling details of upcoming spin-off

Cecilia Jamasmie | November 9, 2014
BHP closer to unveiling details of upcoming spin-off

The world’s largest miner is only two weeks away from shedding more light on an upcoming spin-off of unwanted assets.

Zimbabwe mulls ending tax on diamonds

Cecilia Jamasmie | November 9, 2014
Zimbabwe mulls ending tax on diamonds

As part of a set of planned measures to stimulate production and attract investment in the sector.

Lawyers seek Barrick’s support in case against African subsidiary

Cecilia Jamasmie | November 6, 2014
Lawyers seek Barrick’s support in alleged murder case against African subsidiary

African Barrick’s North Mara mine, Tanzania’s largest gold producer, has been a flashpoint of clashes between locals and security forces for many years.

Randgold output up 28%, hunts for new mines

Cecilia Jamasmie | November 6, 2014
Randgold output up 28%, hunts for new mines

The company is confident in the precious metal it mines.

Ivanhoe OK to build one of world’s biggest platinum mines

Cecilia Jamasmie | November 5, 2014
Ivanhoe ok to begin building one of world’s biggest platinum mines

South Africa’s Department of Mineral Resources has finally approved the miner's Platreef platinum project.

Huge unknown mammal tracks found in African diamond mine

Cecilia Jamasmie | November 5, 2014
Huge unknown mammal tracks found in African diamond mine

Researchers also found evidence of dinosaurs and large crocodiles dating to 118 million years ago.

Iron ore price falls to 64-month low

Frik Els | November 4, 2014
Iron ore price falls to 64-month low

Fresh Chinese weakness pushes iron ore price to lowest since June 2009, but rising premiums for high-quality lump imports offers some hope.

Burkina Faso political upheaval affects Canadian miners’ share prices

Business in Vancouver | November 4, 2014
Burkina Faso political upheaval affects Canadian miners’ share prices

As if tanking gold prices weren’t enough bad news for Canadian junior gold mining and exploration companies, now one of the more promising gold-mining nations in Africa is in a state of turmoil.

Giant diamonds lure investor cash to Botswana

Wall Street Journal Online | November 4, 2014

In a quiet room behind several sets of bulletproof doors, N.B. Parag turned a 141-carat rough diamond in his hands.

Glencore’s coal output up 9% as prices touch 5-year low

Cecilia Jamasmie | November 4, 2014
Glencore’s coal output up 9% as prices head to 5-year low

The company is defying coal price slump with increased production driven by expansions at its Australian mines.

South Africa blackouts seen lasting all week after silo collapse

Bloomberg | November 2, 2014

Rolling power blackouts will probably continue across South Africa this week as Eskom Holdings SOC Ltd. struggles to recover capacity from its second-biggest plant after a coal silo cracked and collapsed, it said.

Zambia may be backing off 20% open pit mine royalty rate – Barrick

Zambia Post | November 2, 2014

There are indications Zambia may be backing away from plans to impose a 20 per cent royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday.

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