Africa Mining News

Congo sets deadline for plan on 11,000-megawatt hydro plant

'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'

Petra Diamonds revenue up as production, sales jump

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.

Lonmin in $200m loan deal with state-backed Chinese company

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.

Glencore boss Ivan Glasenberg to retire in 3-5 years — report

He is said to have already begun training three to four people to succeed him in the job.

Almost 400,000 migrants left Angola in massive diamond crackdown

The government says that diamonds worth more than $1 million had been seized in the course of Operation Transparency.

Kenya to set up gold refinery to help small miners

The aim of the project is to improve the livelihoods of the beneficiary community and regional economy - Mining Ministry

Acacia threatens Tanzania with legal action as dispute escalates

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.

Zambia's finance minister says new mining taxes will not hit operations

Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes.

Tanzania anti-corruption body charges Acacia subsidiaries with tax evasion, money laundering

The news comes barely a week after the company said another worker had been released on bail after being charged with corruption.

Botswana Diamonds, Vast Resource JV steps up exploration efforts in Zimbabwe

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.

How Nigeria can escape the natural-resource curse

Education and health are the way forward for Nigeria.

Gold Fields CEO asks for `more time' as investors get antsy

Shareholders getting impatient over the Gold Fields failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope.

Congo miners seek concessions in new code as arbitration on hold

They hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer.

Evicted Kenyans demand compensation after mining firm exits

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 shortage "short-term problem" for miners in Zimbabwe – minister

Dollar shortages are creating the risk of some mines shutting down, while investors calling for the removal of foreign exchange restrictions.

DRA Global confirmed as preferred EPCM contractor for Colluli

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.

Global coal mining industry sees compound annual growth

The global coal mining market is growing, with a CAGR of close to 2% from 2018-2022.

Burundi gets 15% gold-mining stake amid minerals expansion plans

Burundi has declared an end to a more than three-year political crisis and is seeking to attract investment to the landlocked nation.

Zimbabwe miner RioZim to sue central bank for loss of forex earning

The miner said it would take legal actions to force the central bank to give it US dollars for part of its gold output.

Britain's CNM plans to relaunch Zambia nickel mine next year

The decision to restart output at the mine comes despite plans by the government to hike mining taxes to bring down mounting public debt.

Zambia says open to dialogue with miners over tax increases

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.

Diamond market warming to lab-made gems

The centuries-old diamond industry is getting shaken up by small producers and industry giants alike.

Vitol, Trafigura to bid for coal mines once owned by Guptas

Bids for Optimum are expected to be finalized by the end of November, with due diligence starting on Monday.

Balking miners jeopardize $2.8B Mozambican coal rail

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.

Mali expects 2018 industrial gold output to rise 21 pct

Head of the mines division said a previous production forecast of 59.3 tonnes of gold for 2018 had been marginally increased.