Africa

The bottom is falling out of the iron ore price

Frik Els | January 26, 2015
The bottom is falling out of iron ore price

Down 4% to fresh five-and-half year low.

Zambia’s new leader to keep polemic mining tax

Cecilia Jamasmie | January 26, 2015
Zambia’s new leader to keep polemic mining tax

Newly elected President Edgar Lungu wants to keep mining royalties at 20%, as opposed to the 6% companies were paying a month ago.

Undisclosed number of diamonds stolen from South African mine

Cecilia Jamasmie | January 26, 2015
Undisclosed number of diamonds stolen from South African mine

Sixteen men, who failed to access a safe, broke into a room used for sorting diamonds near Prieska Monday morning.

Anglo American mulls sale of more coal mines in Australia

Cecilia Jamasmie | January 23, 2015
Anglo American mulls sale of more coal mines in Australia

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.

Anglo hit by platinum, iron ore units lower earnings outlooks

Cecilia Jamasmie | January 23, 2015
Anglo hit by platinum, iron ore units lower earnings outlooks

The miner shed over 3.7% after two of its business divisions — Amplats and Kumba — warned they expected full-year earnings to shrink more than previously flagged.

Global mining sector ended 2014 on a disappointing note: report

Cecilia Jamasmie | January 21, 2015
Global mining sector ended 2014 on a disappointing note: report

December is a period that sees lower levels of exploration and resource announcements, and last month was every bit as disappointing as expected, an SNL report shows.

Rio Tinto’s diamond output down 14% in 2014

Cecilia Jamasmie | January 20, 2015
Rio Tinto’s diamond output down 14% in 2014

The company pointed to the transition of its Argyle mine from open pit to underground, as well as a shift toward processing lower-grade ore at Diavik as the main reasons for the drop.

Rio Tinto digging up more iron ore despite slumping prices

Cecilia Jamasmie | January 20, 2015
Rio Tinto digging up more iron ore despite slumping prices

The world’s second largest iron ore miner is targeting a 18% output increase this year, adding to a mounting global glut that has driven down the commodity price.

ArcelorMittal sells its coal mines to Russia's National Fuel Company

Cecilia Jamasmie | January 19, 2015
ArcelorMittal sells its coal mines to Russia's National Fuel Company

The assets include the coal mines of Berezovskaya and Pervomaskaya, which together produce 700,000 tonnes of coal a year.

Most copper producers in Zambia losing money — Chamber of Mines

Cecilia Jamasmie | January 19, 2015
Most copper producers in Zambia losing money — Chamber of Mines

The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.

Goldcorp strikes $440 million deal for Probe Mines

Cecilia Jamasmie | January 19, 2015
Goldcorp strikes $440 million deal for Probe Mines

The move will see the miner taking control of the Borden Gold project in northern Ontario.

Acacia Mining seeking gold assets across west Africa

Reuters | January 18, 2015

Acacia Mining Plc is looking to buy gold mines and exploration projects in Senegal, Mali and Ghana to expand in west Africa, Chief Executive Brad Gordon said.

Iron ore price: Closing marginal producers not enough

Frik Els | January 16, 2015
Iron ore price: Closing marginal producers not enough

Next round of displacements will come from mines "that just 18 months ago could have been making $50/mt or more in cash margin" says new report.

Allana Partner ICL launches "Potash for Growth" program in Ethiopia

Marketwired | January 15, 2015
Flag and map of Ethiopia

Initiative intends to unlock the potential of agriculture in Ethiopia by promoting balanced fertilization among local farmers.

These are the top 10 global mining trends for 2015

Cecilia Jamasmie | January 15, 2015
These are the top 10 global mining trends for 2015

Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.

True Gold down 25% after Burkina Faso protests, damage

Frik Els | January 14, 2015
True Gold down 25% after Burkina Faso protests, damage

Vancouver junior is assessing damage at its Karma project in West Africa after demonstrations suspend operations.

Big global copper surplus? Mine cutbacks force rethink

Reuters | January 14, 2015

Cuts in copper mine output are raising doubts about the extent of a widely expected global surplus that has driven down prices, and the reduced production could support a market rebound.

South Africa Commodity Stocks Fall Most Since ’08 as Metals Drop

Bloomberg | January 14, 2015

South African commodity stocks fell the most in more than six years, with Anglo American (AGL) Plc leading declines, as global metal prices slumped.

Ivanhoe Mines excoriates Globe and Mail over Platreef report

Cecilia Jamasmie | January 12, 2015
Ivanhoe Mines backlashes report on its Platreef platinum mine

Article implies that the company engaged in illicit practices to obtain the necessary permits for its Platreef mine in South Africa.

Wife of Ivanhoe Mines CEO charged after throwing a water bottle at a flight attendant

Andrew Topf | January 11, 2015
Plane window view

Ivanhoe Mines  (TSE:IVN) received a bit of unwanted publicity on Sunday when it was revealed that the wife of CEO Lars-Eric Johansson is facing criminal charges for throwing a water bottle at a flight attendant on an Air Canada flight.

Robert Friedland’s mining showdown in South Africa

Globe and Mail | January 11, 2015

The two men took the cash from an envelope, counted it carefully and spread it on the table in front of Raesetsa Makgabo in her village home.

CHARTS: Iron ore price won't withstand 2015 supply flood

Frik Els | January 9, 2015
CHARTS: Iron ore price won't withstand 151m new tonnes in 2015

Dozens of mines closed last year but another 175 million tonnes will have to drop out to neutralize 2015 output growth, which unlike copper is de-risked.

African miners to increase spending in 2015: survey

Cecilia Jamasmie | January 8, 2015
African miners to increase spending in 2015: survey

The report, based on responses from 108 buyers and decision-makers across 100 mines in 16 African countries, shows most plan to acquire equipment and maintenance services.

Centamin stock dives on below-expectations 2015 gold output forecast

Cecilia Jamasmie | January 8, 2015
Centamin stock dives on below-expectations 2015 gold output forecast

The gold miner said it expected to produce 420,000 ounces at its only operating mine in Egypt this year, missing some analyst expectations.

First Quantum Kalumbila mine workers protest over funeral grant

Zambia Post | January 7, 2015

Refusal by the firm to award a funeral grant to a deceased worker sparked fierce protests at Kalumbila Mine in Solwezi, paralyzing operations at the country’s newest copper mine.

Somalia ousts Chinese firm over alleged illegal mining

Cecilia Jamasmie | January 7, 2015
Somalia ousts Chinese firm over alleged illegal mining

The firm is also said to have of caused civil turmoil and tensions in the region after introducing armed militia to protect its illegal operation.

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