Africa Mining News

Release in response to Orezone Gold Corporation’s (“Orezone”) news release

SRK Consulting (Canada) Inc. is releasing the following in response to Orezone Gold Corporation’s (“Orezone”) news release of August 22, 2016.

Higher gold price will add 10m annual ounces by 2020

The world is far from reaching peak gold – miners are making the most of a rising gold price to bring giant projects on stream before the end of the decade.

Kinross Gold halts Maricunga mine in Chile, lays off 300 workers

Suspension of Maricunga comes earlier than planned after a court upheld the country’s regulator decision to shut down the water system linked to the mine over environmental concerns.

Mining has nothing to fear from Fed rate hikes

Study shows commodities have been the best performing asset class during Fed rating hike cycles since 1983 with average returns for industrial metals 44%

South32 posts $1.6bn loss but pays maiden dividend

The miner continues to look for new assets, including Anglo American’s 40% stake in their manganese joint venture — Samancor.

Sibanye logs steep rise in half-year profit, mulls platinum mines future

The miner said it was is currently assessing the operational and financial situation of its platinum division, which may require "remedial action".

OPEC's output freeze: What has changed since Doha?

It's possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it's also possible that they are ramping up production to take the sting out of a freeze.

Glencore posts worst half-yearly profit since listing in London

Despite a rebound in commodity prices and successful costs cuts, Glencore remained in the red in the six months to end-June.

Africa Dubai precious metals forum returns to Ghana in September 2016

DMCC to outline Dubai’s unique value proposition to miners highlighting a supply chain solution free of conflict minerals in collaboration with Ghana Chamber of Mines and Dubai Chamber of Commerce & Industry

Ashanti, Alecto to jointly develop Mali gold project

The proposed partnership will help the firms realize the full potential of Kossanto East, which currently has a JORC-compliant resource of 247,000 ounces of gold.

Stellar Diamonds to ink deal that would create Sierra Leone’s second largest mine

The diamond producer plans to combine its Tongo mine with Octea Mining’s adjacent Tonguma operation.

Moody’s has just called the bottom of the commodities rout

The worst is over, at least for base metals, says Moody's, but warns that challenging industry conditions should continue through to at least 2018.

SA's mining leadership needs to grasp opportunities missed in the last commodity boom – SRK

Signs of resurgence in platinum, a stronger gold price and growing coal exports to India should be triggers for South Africa’s mining leadership to grasp the opportunities that it missed in the last commodity boom, according to consulting engineers and scientists SRK Consulting (South Africa).

Harmony Gold swings back to profit, will consider Barrick's Acacia stake

The potential acquisition fits in the South African gold producer’s plans to expand operations across Africa.

Hedge funds up bullish platinum, palladium bets near record

Large scale futures speculators and PGM investors in physically-backed exchange traded funds are taking wildly different views of the outlook for the metals.

Anglo's top shareholder could reduce it to diamond-only miner

South Africa's state pension fund is pushing Anglo to spin off all its assets in the country, including the miner's coveted platinum mines.

Draft bill says list in Harare if you want to mine in Zimbabwe

None of the foreign-owned platinum miners operating in the world's number three producer of the precious metal is listed on the Zimbabwe Stock Exchange.

B2Gold gets fresh push after announcing at-the-market offering of up to $100M

B2Gold’s stock has gained almost 229% so far this year.

This chart shows how tough mining conditions still are

Glencore's will continue to curtail production in zinc, copper and other metals – it's clear why.

South Africa output topples platinum, palladium prices

PGM prices plunge after data show country's mines responsible for 70% of global production are humming and local currency revenues are hitting records.

Ivanhoe Mines’ DRC project likely Africa's top copper discovery shows fresh drilling results

Shares in the Canadian company were up more than 3.6% Thursday morning on the news.

Petra Diamonds finds massive 138-carat white rock at its Cullinan mine

The diamond will be offered for sale in Johannesburg later this month.

Diamond production down, sales volume up

According to the Zimnisky Global Rough Diamond Price Index, rough diamond prices have climbed 8.9% in the last 3 months.

Vancouver developer jumps on maiden Ghana resource

On Monday, Asanko shares added to three-fold gains year-to-date after releasing maiden resource for satellite targets at its producing mine in West Africa.

Goldman Sachs: Copper price heading for $1.80

“Company guidance and our estimates suggest that copper is entering the eye of the supply storm.”