Chief Financial Officer Andrew Wray said the company doesn't even have the ability to make the upfront $300 million payment Barrick has promised to the government of Tanzania as part of a deal reached Thursday.
Africa Mining News
Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.
The deal does not mean Tanzania will immediately lift the demand for Barrick's subsidiary Acacia Mining to pay $190 billion in allegedly unpaid taxes.
It will sell its newest mine to Harmony Gold for $300 million and another mine for 100 million rand ($7.4 million) to China's Heaven-Sent SA Sunshine Investment Company.
SOLA Future Energy has succeeded in designing and constructing a solar energy microgrid for Robben Island.
Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.
Precious metals miner said its platinum group metals (PGM) operations had delivered "solid operational results" in the first-half of 2017, prompting an upward revision to its 2017 production forecast and a downward revision to guided costs.
Company will pay $30 million for a 15 percent interest in a platinum project in the northern Waterberg region and had an option to acquire a majority stake in the development.
Deal allows the Stellar to focus on its bigger Tongo-Tonguma project in Sierra Leone, which would be the country's second largest diamond mine ever.
Company said it expects production of between 50,000 and 55,000 ounces of gold from its new mine in south-western Mali to bring total metal production for 2017 to between 530,000 and 570,000 ounces of gold.
London's Court of Appeal opened the way for nearly 2,000 Zambian villagers can pursue a claim for damages.
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World's number one producer still confident it will meet 2017 production guidance.
Company is on track to begin commercial production before the end of the year, which would boost its annual production more than 70% to between 925,000 and 975,000 ounces of gold.
Decision is in response to falling uranium prices, a local union leader said.
Juniors have been increasingly active in Mali, regarded as a relatively stable jurisdiction, where Legend has a portfolio of gold projects and licences covering nearly 400 square kilometres.
Blasting and explosives leader BME has broken the world record for the most electronic detonators fired in a single blast
The company says that labour disruptions in South Africa and the confiscation of a parcel of diamonds by the Tanzanian government are to blame.
The fate of IAMGOLD's Sadiola mine hangs in the balance as Mali's gold exports fall and production winds down.
Any cobalt sulphate prices published by CRU would be based on traded prices in China, a cobalt industry source said.
After a 3 month suspension, Mali allows informal gold mining to recommence. The country exported over 16 tonnes of gold in the first 4 months of this year.
The graphite market has shown its first sign of life in a few years with some upward price pressure.
The 709-carat rock is the second-largest ever found in the West African nation.
The Gakara mine holds some high-grade rare earth elements, some of which are expected to become essential for the manufacturing of batteries, magnets and electric vehicles.
The country's chamber of mines and the ministry are locked in a number of legal disputes over the mining charter, which aims to increase black ownership and participation in the industry as part of a government drive to overcome apartheid's legacies.