The unit of Anglo American said reversal, net of tax and non-controlling interest, was 2.6 billion rand and would be included in its basic earnings.
Africa Mining News
The three-times delayed $5 million-deal should help the miner dodge bankruptcy for its units in the West African country.
Company has opened negotiations with local people in Ivory Coast in an effort to head off protests at two gold mines where the company aims to boost production by nearly 4% this year.
Namdeb, a 50/50 joint venture between the Namibian government and Anglo American’s diamond unit De Beers, has put its Elizabeth Bay Mine up for sale.
Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn’t always better.
Nation to consider applications from platinum, diamonds mining companies exempted from requirement that they be at least 51 pct owned by black citizens.
Robert Friedland, founder and executive chairman of Ivanhoe Mines, said he would be happy to pay higher taxes if there is stability in Congo's rules and transparency in the accounting of those royalties.
The 102.34-carat white diamond is thought to be worth considerably more than previous auction records for similar pieces.
South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.
DRC tried to strike more conciliatory tone after week of heated exchanges between Africa’s top copper producer and some of its largest foreign investors.
A class action suit brought against gold producers in South Africa is likely to be settled "within months" with $755 million going to miners suffering from fatal lung disease
Mining giant posts 90% increase in profit amid what CEO Jean-Sébastien Jacques calls “resilient” commodity prices.
Two employees were trapped underground and later died in a fall of ground incident at the company's Kloof gold mine.
Cyril Ramaphosa isn’t even president yet and mining companies are already changing their tune on South Africa.
New report shows world's mines produced all-time peak of 105 million troy ounces of gold in 2017 despite 9% drop in output in top producer China.
President and chief operating officer Mike Frasersaid company has received a number of offers for the assets, which it up for sale in November last year as part of a shift away from coal.
Country is backing Prospect Resources’ (ASX:PSC) Arcadia lithium project, expected to generate that much revenue over eight years.
The Anglo American unit is also said to be eying exploration licences in Zimbabwe and Congo.
New report shows private equity investment in mining jumped to $2.3 billion last year, with the bulk going into copper and battery metals.
The Democratic Republic of Congo will seek greater control of the global cobalt market by engaging directly with car and battery manufacturers.
Some of the company’s international mining partners include major names such as Glencore, China Molybdenum and Ivanhoe.
Randgold boosted divvy to $2 a share, after a year of record production and soaring profits, but warned the good times may be over soon as it’s now facing demanding new regulations in Congo, one of its key jurisdictions.
The mining sector in the world's top platinum producer has in recent years been laid low by soaring wage and power costs, depressed prices, violent social and labour unrest as well as policy uncertainties.
Mark Bristow says the law will “severely limit the growth of the mining industry in the DRC as well as the country's own economic prospects.”
The sale of 4,170 carats of Lulo diamonds achieved gross proceeds of US$9.14 million (A$11.43 million), representing an average price per carat of US$2,192.