Zambia's Konkola Copper Mines (KCM) said on Tuesday it was halting operations indefinitely at its Nchanga underground mine (NUG) in Chingola state due to theft of high voltage cables.
Africa Mining News
Shareholders hadn’t received dividends since 2015, when iron ore fell below $40 a tonne amid a global crash in commodity prices.
Labour disputes earlier in the year caused delays in the building of a new plant in its Cullinan mine in South Africa.
"Suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it."
Shares collapsed on the news to close almost 21% lower in London. Barrick, which has a 64% stake in Acacia, also fell in both Toronto and New York.
The Bokoni mine, a joint venture between Atlatsa and Anglo Platinum, produces around 150,000 ounces of platinum group metals per year.
Gakara mine, which operated for 30 years until 1978, is expected to restart commercial production in the fourth quarter of the year.
Early reports claimed that Tanzania had asked foreign workers of the gold miner to leave the country, but a spokesperson for the company denied that story.
South Africa intends to suspend the granting of applications for prospecting and mining rights as well as any renewals pending a court case to review new mining laws, the Mineral Resources Minister Mosebenzi Zwane said on Thursday.
Big winners will be aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium.
Two employees at the Tenke copper mine in Democratic Republic of Congo suffered minor injuries in an electrical fire at the weekend.
Lucara Diamond’s Lesedi La Rona is said to face challenges other rock never do, including its multi-million-dollar price tag and a risky polishing process that can take months or years.
Vutomi licences were extended into additional area of mineralization adjacent to the firm’s Frischgewaagt project in South Africa.
Djibouti contracted a Kuwaiti company to build a $98-million road link to enable landlocked Ethiopia to ship its first potash output from a new Red Sea port.
The company identified a group 2 kimberlite pipe in an area known by its high-grade diamonds.
The suspension follows a pending a judgement in an urgent interdict application by the country's Chamber of Mines.
It means that the miner, which had revenue of $1bn last year, will pay about $31 million extra in royalties a year.
The miner said it continues to seek a “constructive dialogue” with the country's government to gain assurance that its operations will not be affected by newly enacted mining law.
Democratic Republic of Congo has decided to more than double the size of its planned Inga 3 hydroelectric plant to make it more economical, after the $14 billion project was hit by financing problems.
The Rakounga Gold concession is a 250 sq km property contiguous to the company's 2nd gold project — Bouboulou.
Study shows Q2 2017 new private capital for natural resources investment dropped to lowest since 2011 and not a single mining fund were able to raise money.
Weak uranium market and new Tanzania’s regulations named the main culprits.
While the kidnapped drivers have been released it’s still uncertain where they are and what happened to their trucks.
Kumba Iron Ore Limited today announces the appointment of Mr Bothwell Mazarura as Chief Financial Officer and Executive Director, effective 1 September 2017.
Democratic Republic of Congo's government has formally requested financial support from international donors as it confronts a worsening economic crisis, a letter seen by Reuters on Thursday showed.