Africa

Tanzania puts former mining minister behind bars over gold deal

Cecilia Jamasmie | July 6, 2015
Tanzania puts former mining minister behind bars over gold deal

He was found guilty of issuing illegal tax exemptions to a gold audit firm, which cost the government millions of dollars in lost revenues.

South Africa’s main union rejects gold firms wage offer

Cecilia Jamasmie | July 6, 2015
South Africa’s main union rejects gold firms wage offer

Companies are keen to avoid a repeat of last year’s five-month platinum strike, but their ability to raise salaries is limited.

New mining code in Burkina Faso should not affect current operations — Iamgold

Cecilia Jamasmie | July 6, 2015
New mining code in Burkina Faso should not affect current operations — IAMGOLD

The code, which is yet to be formalized into law, respects clauses in existing deals, said the miner.

Iron ore hits four-month low

Cecilia Jamasmie | July 3, 2015
Iron ore drops to four-month low

As fresh reports provided further evidence of a slowing Chinese economic and consequently increasing stock piles up at its ports.

China’s rate cuts to slow copper demand even further — report

Cecilia Jamasmie | July 3, 2015
China’s rate cuts to slow copper demand even further — report

China's central bank commitment to ensure policy remained prudent this year may mean no more monetary stimulus, which could see copper demand growth slow further.

The missing diamond shortage

Bloomberg | July 3, 2015
Alrosa sells bank, to focus exclusively on diamond mining

If you’ve ever been to a diamond investment pitch you’ve probably seen ‘The Chart,’ the one where diamond demand soars, while supply trails forlornly in its wake.

Anglo American laying off up to 20% of its staff as investors press for further savings

Cecilia Jamasmie | July 2, 2015
Anglo American laying off up to 20% of its staff as investors press for further savings

Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.

Iron ore falls below the $60 mark again

Cecilia Jamasmie | July 1, 2015
Iron ore falls below the $60 mark again

The value of the commodity has fallen by about 35% over the latest 12-month period, hitting Australia’s economy harder than expected.

Kimberly Diamonds shifts to Africa

Australian Mining | July 1, 2015

Kimberley Diamonds is shifting focus to the Lerala mine in Bostwana, which will be its key source of revenue.

When it comes to conflict mining regulation, should one size fit all?

Sonal Sinha | July 1, 2015
American businessmen accused of using fake gold mine to get $1m from investors

Conflict mining remains an important issue, and one we are beginning to see governments step in to address in different ways.

Over 12,000 children rescued from illegal gold mines in Tanzania

Cecilia Jamasmie | June 30, 2015
Over 12,000 child workers rescued from illegal gold mines in Tanzania

The country bans child labour in mines, but critics say the government has not done enough to stop illegal operations from exploiting minors.

Davis’s X2 Resources goes after Rio’s coal assets in Australia

Cecilia Jamasmie | June 30, 2015
Davis’s X2 Resources goes after Rio’s coal assets in Australia

Negotiations between the parties, still at an early stage, are said to have generated solid interest from both sides.

Avalon banks on new ‘blood metals’ rule for Canada’s tin mine success

Cecilia Jamasmie | June 30, 2015
Avalon banks on new ‘blood metals’ rule for Canada’s tin mine success

The miner is spending $1.3 million in exploration work aimed to reopen a historic tin-indium mine in Nova Scotia.

South Africa’s gold workers 'unimpressed' with 13% pay rise offer

Cecilia Jamasmie | June 29, 2015
South Africa’s gold workers unimpressed with 13% pay rise offer

Gold producers offered above-inflation wages, which make up 55% of their mining costs in the country.

Iamgold trims 2015 output forecast over earthquake disruption at Quebec mine

Cecilia Jamasmie | June 29, 2015
Iamgold trims 2015 output forecast over earthquake disruption at Quebec mine

The Canadian miner said it expects the lower output to "adversely" impact costs at the mine.

Burkina Faso parliament adopts new mining code

Reuters | June 26, 2015
Roxgold's robust Burkina Faso feasibility rocks stock

Burkina Faso's transitional parliament passed a new mining code on Friday that abolishes a previous 10 percent tax break on mining company profits and obliges firms to pay into a local development fund.

Paragon Diamonds sees at least $160m in revenue from Lesotho mines

Cecilia Jamasmie | June 26, 2015
Paragon Diamonds sees at least $160m in revenue from Lesotho mines

The miner, which does not yet generates any income, expects to kick-off production at its Lemphane and Mothae mines later this year.

Rio Tinto sells Murowa diamond mine and leaves Zimbabwe

Cecilia Jamasmie | June 26, 2015
Rio Tinto sells Murowa diamond mine and leaves Zimbabwe

The company, however, said it remained committed to the diamond industry.

South African commission finds police to blame in Marikana deaths

Cecilia Jamasmie | June 25, 2015
South African commission finds police to blame in Marikana deaths

The commission into the deaths at Lonmin's Marikana platinum mine in August 2012 concluded the plan to quell the massive protest was “defective,” and shouldn't have been executed as such.

Iron ore prices hit six-day highs, but rally won’t last say experts

Cecilia Jamasmie | June 24, 2015
Iron ore prices hit six-day highs, but rally won’t last say experts

Analysts from Goldman Sachs, Citi and ANZ predict prices will drop again below $50 a tonne.

South African gold sector to table wage offer next week

Cecilia Jamasmie | June 24, 2015
South African gold sector to table wage offer next week

The companies, which bargain collectively under the country’s Chamber of Mines, are already battling low metal prices and mounting electricity costs amid power outages.

Zambia to slash royalties, reinstate mining tax

Cecilia Jamasmie | June 24, 2015
Zambia to slash royalties, reinstate mining tax

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

South Africa’s gold miners begin wage talks

Wall Street Journal Online | June 23, 2015

Unions are demanding as much as double workers’ current wages.

Amplats axing over 400 jobs in South Africa

Cecilia Jamasmie | June 23, 2015
Amplats axes over 400 jobs in South Africa

Anglo American’s platinum unit cited dark outlook for the sector as main reason for the cuts.

Visual Capitalist

INFOGRAPHIC: The looming copper supply crunch

Visual Capitalist | June 23, 2015
This firm has more than half the copper in LME warehouses

The market for copper is equal to approximately $120 billion each year, which rivals that of even iron ore.

Firestone Diamonds delays Lesotho mine launch

Cecilia Jamasmie | June 23, 2015
Firestone Diamonds delays Lesotho mine launch

Adverse weather conditions and the need to shift more earth than previously anticipated have also added $13 million to overall costs.

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