Africa Mining News

AngloGold cash flow, output jump in third quarter

South African gold miner said it’s on track to meet 2017 guidance.

Lucara Diamond readies for $195 million expansion of Karowe mine

Results of a preliminary economic assessment have revealed the potential for the development of an underground mine at the company's mine in Botswana.

Namibia's economy to grow faster in 2017 as mining bounces back

The country's mining sector is emerging from years of contraction and the impact of recent severe drought eases, the finance minister said on Thursday.

Lower Q3 and Mali tax row take the glow off Randgold

Miner said full-year profit and output was on track despite a third-quarter dip, but its shares slid to a three-month low after its CEO did not rule out seeking arbitration over a tax dispute in Mali.

Acacia Mining top execs. quit amid ongoing dispute with Tanzania

The Tanzanian gold producer, majority owned by Barrick, has been locked in a months-long dispute with the local government.

Rio Tinto throws its weight behind Africa as mining central

Africa largest untapped source of growth for industry and would provide huge opportunity, says Rio Tinto's chief executive of energy and minerals.

Sibanye-Stillwater shuts down Cooke gold mine, about 7,000 laid off

Company said it would keep its Beatrix West gold mine running for as long as it makes a profit, on average, over any continuous period of three months.

Solid demand for large stones boosts Gem Diamonds sales

The company has found six diamonds larger than 100 carats in the first nine months of the year, compared with just four throughout 2016.

More than 2,000 miners sacked at Sibanye’s Cooke gold mine

Miners who received a termination letter will hold a mass meeting at the mine Wednesday morning.

Anglo American investors demand clarity as dealmaker incoming chairman arrives

Stuart Chambers faces investor calls for clear direction at the company, long seen as a potential takeover target.

Former Gemfields exc.-led firm grabs Coscuez emerald mine in Colombia

Fura Gems aims to resume production at the mine within six months of the deal closure.

Electric cars yet to turn cobalt market into gold mine – Nornickel

Prices for cobalt metal, used in production of electric vehicle batteries, have tripled to nine-year peaks above $30 a pound from below $10 a pound in late 2015.

The best diamonds in the world are buried at the bottom of the Atlantic Ocean

The best diamonds in the world come from the sea.

Small mining companies shun London market after IPO flops

Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital.

Major Guinea bauxite mine to start producing in 2019

Alliance Mining Commodities will invest $670 million over the first five years of production at its mine in northwestern Guinea, Saadou Nimaga.

Barrick shares crater as Tanzania troubles grow

Disappointed shareholders sink Barrick Gold shares 7.6% after $300m settlement with east African country over export ban is labelled a "downpayment".

Gold miner Newmont's higher costs cast shadow on profit beat

The miner said its all-in sustaining costs to produce an ounce of gold rose $18 to $943 due to higher exploration and project expenses.

10 people die in clash at a gold mine in Chad

The fight started when residents of the central Sahara mountain region felt disturbed by artisanal miners.

Rio facing class action in the U.S. over Mozambique coal mine

The filing cited Anton Colbert of Cook County, Illinois, as lead plaintiff but his action acts in the name of “hundreds or thousands of members in the proposed class.”

Barrick cuts 2017 production guidance again

World's number one gold producer swings to loss during third quarter.

Australia's Newcrest Q1 gold output falls, quake-hit mine eyed

Gold producer says its total gold output from mines fell to 522,917 oz in the quarter ended Sept. 30 from 615,498 oz in the same period a year earlier.

Rhodium price roars to six-year high

Precious metal is up 114% or $880 an ounce in 2017 as above-ground stocks are "bled dry".

Barrick Gold's Tanzania deal may set expensive precedent

Shareholders argue Barrick decision to hand Tanzania 50 percent of "economic benefits" from Acacia's mines may set baseline for future host nations' demands.

Anglo American’s Kumba raises production target

Kumba Iron Ore increased its full-year production target by 1-million tonnes.

Acacia Mining takes further revenue hit, reviews Barrick-Tanzania deal

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.