Africa

Massive layoffs expected in Zimbabwe as diamond deposits run out

Cecilia Jamasmie | July 7, 2014
Massive layoffs expected in Zimbabwe as diamond deposits run out

It has become economically unviable for miners to dig any deeper for the precious stones.

AngloGold Ashanti completes sale of Navachab mine

AngloGold Ashanti | July 1, 2014

Navachab had gold Mineral Resources of 3.91 million ounces.

Vale may leave ICMM over Rio Tinto lawsuit: WSJ

Michael Allan McCrae | July 1, 2014
Blasted furnaces: Chinese steelmakers can't be more bearish

Bad blood over Simandou.

Interview with Rick Rule: Prepare for when the dam breaks

Sprott Group | July 1, 2014
Rick Rule

"The sector that interests me the most is the sector that’s the most out of favor."

Iron ore price: It's all about grade now

Frik Els | June 30, 2014
Iron ore price: It's all about grade now

Domestic supply can't be cut much further and Chinese steelmakers are demanding deeper discounts for lower grade imports.

Sibanye Gold mulling move into platinum industry by year-end

Cecilia Jamasmie | June 30, 2014
Sibanye Gold fine-tunes details for Anglo’s platinum assets buyout

South Africa’s top gold producer is said to be going ahead with plans to expand into the country’s platinum sector before the end of the year.

Rio Tinto ‘happy’ with iron ore exposure, bullish on China

Cecilia Jamasmie | June 30, 2014
Rio Tinto ‘happy’ with iron ore exposure, bullish on China

Diversifying the business away from iron ore is not in Rio Tinto's cards.

Anglo American goes ahead and puts platinum mines, other assets up for sale

Cecilia Jamasmie | June 30, 2014
Anglo American goes ahead and puts platinum mines, other assets up for sale

The firm is offloading some of its historic South African platinum mines as part of a $4bn sale of under-performing assets.

Strike is over but platinum, palladium prices have plenty upside

Frik Els | June 28, 2014
Strike is over but platinum, palladium prices have plenty upside

New report says risks to supply remain substantial.

Glencore said to be eyeing Simandou North

Frik Els | June 27, 2014
Glencore said to be eyeing Simandou North

Glencore has little exposure to iron ore and the commodity has long represented the bulk of profits at the Swiss-based company's diversified peers.

Anglo American not interested in Simandou north

Frik Els | June 26, 2014
Anglo American not interest in Simandou north

Diversified giant Anglo American won't be bidding for the one of the greatest iron ore prizes anywhere in the world.

Glencore appoints Canadian as its first ever female director

Cecilia Jamasmie | June 26, 2014
Glencore appoints Canadian as its first female director

Patrice Merrin, 65, is a veteran to the industry.

South African central bank chief forgoes salary hike

Reuters | June 25, 2014

Gill Marcus received a 0.4% pay rise this year, indicating that one of the most prominent opponents of excessive executive pay in Africa's most advanced economy practises what she preaches.

South Africa’s platinum miners to resume working

Cecilia Jamasmie | June 24, 2014
South Africa’s platinum miners to resume working

The three-year agreement ends the country's longest and costliest strike.

France's Areva expects uranium prices to rebound

Cecilia Jamasmie | June 23, 2014
France's Areva expects uranium prices to rebound

Company acknowledges the short-term outlook is bad.

Emerging markets firms to lead global mining sector: PwC

Cecilia Jamasmie | June 23, 2014
Emerging markets firms to lead global mining sector: PwC

Net profits from progressing economies-based miners reached $24 billion in 2013, compared to a net loss of $4 billion for developed market firms.

South African court rules gold miners not allowed to strike

Cecilia Jamasmie | June 23, 2014
South African court rules gold miners not allowed to strike

The union leading the five-month strike in the platinum sector take any industrial action affecting gold producers.

Iron ore price builds on rally

Frik Els | June 20, 2014
Iron ore price builds on rally

But Chinese banks are starting to call in iron ore-backed loans to traders holding 38mt, forcing them to dump inventories onto already well-supplied market.

Platinum, palladium prices slide despite stalled strike deal

Frik Els | June 20, 2014
Platinum, palladium prices slide despite stalled strike deal

Palladium falls 2% while platinum retreats to pre-strike levels.

Gold price breakout sparks massive move into mining stocks

Frik Els | June 19, 2014
Gold price breakout sparks massive move into gold stocks

Goldcorp adds a cool $1 billion in market value as sector adds more than 5% on the day following a surprise spike in the gold price.

South Africa divided over controversial mineral law reforms

Cecilia Jamasmie | June 19, 2014
South Africa divided over controversial mineral law reforms

The country's ’s new mineral resources law, which is awaiting the President’s signature, faces growing opposition as the mines minister, industry and opposition seek review.

Iron ore price in mini rally

Frik Els | June 18, 2014
Iron ore price in mini rally

Back above $90 a tonne after soaring Indian ore import numbers lift sentiment.

China's top gold firm talking to Barrick, has Friedland 'hotline'

Frik Els | June 17, 2014
China's top gold firm talking to Barrick, has Friedland 'hotline'

China's largest gold miner, China National Gold, is actively looking for partnerships and acquisitions around the world.

Anglo to sell platinum mines in South Africa next year— report

Cecilia Jamasmie | June 17, 2014
Anglo to sell platinum mines in South Africa next year— report

Deutsche Bank has put a $1.4 billion price tag on the operations.

African Consolidated Resources raising $18m, buying Zimbabwe mine

Firm says deal means faster gold production at flagship Pickstone project.

Less correlation among commodities demands more careful selection: Philip Richards

The Gold Report | June 17, 2014
finance_trader_takeover_ma_for_sale

Commodities from coal to gold once traded in close correlation, but today the graph looks helter-skelter.

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