Second quarter revenues beat estimates and Toronto-based gold miner sticks to record output prediction for 2016.
Africa Mining News
GAF establishes Geo-Data Information Management System for Sierra Leone for development of mining sector
GAF AG is pleased to announce the successful implementation of the Geo-Data Information Management System (GIMS) for Sierra Leone. GIMS has now been officially launched by the Ministry of Mines and Mineral Resources and the National Minerals Agency (NMA). With this new information system, Sierra Leone is taking an important step towards further developing its mining sector.
Randgold’s mines in Mali annually accounted for between 7% and 11% of the country’s GDP, with Loulo having already contributed $2.3 billion to the country’s economy.
ICSG study forecasts global copper output growing at a robust average annual rate of 4% to reach 26.5 million tonnes a year in 2019.
The potential sale of its its 64% interest in Acacia would be part of Barrick's broader strategy of selling non-core assets to reduce debt.
Lack of investment and regulation means life is hard for the men, women and children panning for tiny fragments of gold along the island’s river beds.
The company however is still debating whether to sell or spin off its majority stake in Kumba Iron Ore Ltd, Africa's top producer of the commodity.
Randgold Resources’ Tongon mine has completed the final phase of its extensive crusher expansion and mill circuit upgrade project.
Most of them have been after existing operations and companies, rather than trying to build mines from scratch.
Output rose 16% to 3.7 million carats, which puts Petra on track to hit its long term annual target of 5 million carats in 2018, a year earlier than planned.
The six mining companies which form the Occupational Lung Disease Working Group said they support the work being done by the national departments of Mineral Resources and Health to ensure that former mineworkers are able to claim all the benefits they are entitled to.
Faced with declining domestic production, China's top copper company — Minmetals — said earlier this year that the "only solution” was going overseas, and many are following its steps.
The world’s third-biggest gold miner said its net earnings will also benefit from weaker operating currencies in South Africa, Brazil, Australia and Argentina.
Shares plunged after miner revealed that output fell almost across the board in the April – June period.
Speaking at a regular briefing, Bristow said that, as anticipated, the complexity of dealing with multiple ore types from different sources had affected throughput, recovery and grade in the first half of the year.
Recovering commodity prices and investors' veto on deals have frustrated Davis and his team in their search for mining and metals bargains.
According to a UN report, since 2000 two-thirds of South Africa's gold exports – mostly to India – did not appear on its trade partners' books.
The government will maintain 1.4 billion pula ($130 million) of annual spending on state-owned BCL for now.
The class action the firms want to appeal paves the way for thousands of current and former miners suffering from silicosis and tuberculosis to seek damage compensation from the companies.
South Africa's mining sector is facing the most serious challenge for many years demonstrated by mounting job losses.
The Company issued a total of 7,187,500 ordinary shares in the capital of Endeavour ("Shares") at a price of C$20.00 per Share, which includes the exercise of the underwriters’ over-allotment option in full, for aggregate gross proceeds of C$143.75 million (the "Offering").
Study shows there are more bullion miners among higher market capital ranking of mining companies in second quarter of 2016 than a year a go.
The company said financial losses at the mine threaten the viability of the rest of the Cooke operations, which include four mines and three processing plants.
Talking top value amid low uranium prices, Daniel Major gets to the crux of his pitch for GoviEx, the uranium developer he leads.
The move comes as the company readies to open what it calls the world’s biggest diamond mine currently under construction.