Power restrictions could hit output of most copper mines operating in the country.
The Morila gold mine in Mali is a shining example of how a world-class mineral resource can be optimally exploited to the benefit of all its stakeholders, especially its host country’s government and people, Randgold Resources chief executive Mark Bristow said here today.
ICVL wants boost annual production at its Benga mine from 5.3 million tonnes to 13 million tonnes in the next five years.
The company has officially shifted operations at its flagship Udachnaya mine from open-pit to underground mining.
“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”
The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.
Implementation of “free, prior and informed consent” policies vital tool to prevent conflict and costs to companies, reveals study published Thursday by Oxfam.
It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.
An independent report has confirmed the Montepuez mine holds the largest deposit of rubies in the world, with projected output of 432 million carats over 21 years.
The world's No.1 miner will continue boosting its iron ore output, adding to a global glut and keeping pressure on prices.
Kumba Iron Ore’s board has put a halt to paying a dividend in the half year to June and has moved to overhaul its operations as it grapples with a double whammy of tumbling iron ore prices and rising costs.
The Russian company, hit by a sustained slowdown in the diamond market, said its rough diamond have declined by 6% in the first six months of the year.
Work still continues on the development of its underground operation and second hydropower plant.
The star of the show was a 341.9 carat diamond —unveiled in April —, which sold for $20.55 million
Canadian mine takes top honours but Russia and USA dominate the rankings.
This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.
A geologist by training, the 62 year old executive has been with the company for 20 years.
The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.
New data by International Copper Study Group predicts copper mine output will grow 5.7 million tonnes by 2018 as Peru, Zambia and Mexico ramp up production.
It would be the first time since 2009 that Anglo has to cut dividends.
In the five years since the Dodd-Frank Act passed, oil produced in developing countries was worth an estimated $1.55 trillion for those governments. But because the landmark US transparency law remains delayed, any payments that flowed to governments took place with limited or no transparency.
As Mozambique sits on the precipice of a rapidly growing gas, mining, infrastructure and energy economy, investors, business, unions, government and social stakeholders are walking an unchartered road.
The deal increases Chinese miners presence in Congo, which is Africa’s top copper producer and the world’s largest producer of cobalt.
The Vancouver-based company said it is on track to pour its first gold at the mine in the first quarter of 2016.
In the past year, they've lost 9.4% of their value, the recently launched Zimnisky Global Rough Diamond Price Index shows.
Data showing South African production up 88% in May from a year ago pushes platinum to levels last seen in 2008 while palladium falls to 2-and-a-half year low.
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