Africa

Zambia power cuts feed copper supply worries, lift prices

Cecilia Jamasmie | July 28, 2015
Zambia power cuts feed copper supply worries, lift prices

Power restrictions could hit output of most copper mines operating in the country.

Morila: a lesson and a legacy

Randgold Resources | July 28, 2015

The Morila gold mine in Mali is a shining example of how a world-class mineral resource can be optimally exploited to the benefit of all its stakeholders, especially its host country’s government and people, Randgold Resources chief executive Mark Bristow said here today.

Indian miner to expand operations at Rio's former Mozambique coal assets

Cecilia Jamasmie | July 27, 2015
Indian miner to expand operations at Rio's former Mozambique coal assets

ICVL wants boost annual production at its Benga mine from 5.3 million tonnes to 13 million tonnes in the next five years.

Alrosa’s biggest diamond mine goes underground

Cecilia Jamasmie | July 27, 2015
Alrosa’s biggest diamond mine goes underground

The company has officially shifted operations at its flagship Udachnaya mine from open-pit to underground mining.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

Cecilia Jamasmie | July 24, 2015
Anglo American to axe 53,000 jobs, put 15 assets up for sale

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Vale adds to iron ore supply glut — second highest ever quarterly output

Cecilia Jamasmie | July 23, 2015
Vale adds to iron ore supply glut — second highest ever quarterly output

The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.

Global miners improve policies on community consent, while oil and gas lag

Oxfam America | July 23, 2015
Global miners improve policies on community consent, while oil and gas lag

Implementation of “free, prior and informed consent” policies vital tool to prevent conflict and costs to companies, reveals study published Thursday by Oxfam.

Glencore to slash 380 coal jobs in South Africa

Cecilia Jamasmie | July 22, 2015
Glencore to slash 380 coal jobs in South Africa

It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.

Gemfields Mozambique mine to yield rubies for over 20 years

Cecilia Jamasmie | July 22, 2015
Gemfields Mozambique mine to yield rubies for over 20 years

An independent report has confirmed the Montepuez mine holds the largest deposit of rubies in the world, with projected output of 432 million carats over 21 years.

BHP Billiton beats iron ore guidance, takes copper write-downs

Cecilia Jamasmie | July 22, 2015
BHP Billiton beats iron ore guidance, takes copper write-downs

The world's No.1 miner will continue boosting its iron ore output, adding to a global glut and keeping pressure on prices.

Kumba grapples with double whammy

Business Report | July 21, 2015

Kumba Iron Ore’s board has put a halt to paying a dividend in the half year to June and has moved to overhaul its operations as it grapples with a double whammy of tumbling iron ore prices and rising costs.

Alrosa’s rough diamonds sales down 22% in first half of the year

Cecilia Jamasmie | July 21, 2015
Alrosa’s rough diamonds sales down 22% in first half of the year

The Russian company, hit by a sustained slowdown in the diamond market, said its rough diamond have declined by 6% in the first six months of the year.

Randgold's Kibali mine ramp-up on track for 600 ounces a year

Randgold Resources | July 20, 2015
randgold's kibali mine ramp-up on track for 600 ounces a year. - 333

Work still continues on the development of its underground operation and second hydropower plant.

Lucara gets $69 million from first diamond sale, amid tough market conditions

Cecilia Jamasmie | July 17, 2015
Lucara gets $69 million from first diamond sale, amid tough market conditions

The star of the show was a 341.9 carat diamond —unveiled in April —, which sold for $20.55 million

The world’s highest grade gold mines

Vladimir Basov | July 16, 2015
World’s highest grade gold mines

Canadian mine takes top honours but Russia and USA dominate the rankings.

Anglo American to write down up to $4bn on weak commodity prices

Cecilia Jamasmie | July 16, 2015
Anglo American to write down up to $4bn on weak commodity prices

This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.

Graham Briggs to retire as the CEO of Harmony Gold

Cecilia Jamasmie | July 16, 2015
Graham Briggs to retire as the CEO of Harmony Gold

A geologist by training, the 62 year old executive has been with the company for 20 years.

Zambia mining industry says new rules to scare investors, deter local processing

Cecilia Jamasmie | July 16, 2015
Zambia mining industry say new rules to scare investors, deter local processing

The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.

Prepare for flood of copper concentrate

Frik Els | July 15, 2015
Prepare for flood of copper cocentrate

New data by International Copper Study Group predicts copper mine output will grow 5.7 million tonnes by 2018 as Peru, Zambia and Mexico ramp up production.

Anglo American likely to cut dividend amid commodities collapse

Cecilia Jamasmie | July 15, 2015
Anglo American likely to cut dividend amid commodities collapse

It would be the first time since 2009 that Anglo has to cut dividends.

Dodd-Frank: Five years and $1.5 trillion later

Oxfam America | July 15, 2015

In the five years since the Dodd-Frank Act passed, oil produced in developing countries was worth an estimated $1.55 trillion for those governments. But because the landmark US transparency law remains delayed, any payments that flowed to governments took place with limited or no transparency.

Skills development and human resource capacity building needed to keep Mozambican economy on high growth trajectory

African Influence Exchange | July 14, 2015

As Mozambique sits on the precipice of a rapidly growing gas, mining, infrastructure and energy economy, investors, business, unions, government and social stakeholders are walking an unchartered road.

Congo’s Gecamines sells copper assets to Chinese for $52 million

Cecilia Jamasmie | July 14, 2015
Congo’s Gecamines sells copper assets to Chinese for $52 million

The deal increases Chinese miners presence in Congo, which is Africa’s top copper producer and the world’s largest producer of cobalt.

True Gold injects $14 million to its Karma gold project in Burkina Faso

Cecilia Jamasmie | July 13, 2015
True Gold injects $14 million to its Karma gold project in Burkina Faso

The Vancouver-based company said it is on track to pour its first gold at the mine in the first quarter of 2016.

Commodities rout hits diamond industry, prices down 3.4 pct in first half of 2015

Cecilia Jamasmie | July 10, 2015
Commodities rout hits diamond industry, prices down 3.4 pct in first half of 2015

In the past year, they've lost 9.4% of their value, the recently launched Zimnisky Global Rough Diamond Price Index shows.

Platinum, palladium price drop accelerates

Frik Els | July 9, 2015
Platinum, palladium price drop accelerates

Data showing South African production up 88% in May from a year ago pushes platinum to levels last seen in 2008 while palladium falls to 2-and-a-half year low.

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