Africa Mining News

Kumba Iron Ore reverses Sishen mine-linked impairment charge

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.

Embattled Avocet completes sale of Burkina Faso assets

The three-times delayed $5 million-deal should help the miner dodge bankruptcy for its units in the West African country.

Endeavour in talks to avert Ivory Coast protests over gold production plans

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.

De Beers’ Namibia venture puts mine up for sale, at least 130 jobs to go

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.

African gold miner Endeavour would rather be agile than huge

Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn’t always better.

Zimbabwe to consider waivers on platinum, diamonds ownership law

Nation to consider applications from platinum, diamonds mining companies exempted from requirement that they be at least 51 pct owned by black citizens.

Ivanhoe boss said he’d pay higher taxes in Congo if it benefits locals

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.

Sotheby’s expects over $33 million for world's largest, rarest, flawless round diamond

The 102.34-carat white diamond is thought to be worth considerably more than previous auction records for similar pieces.

Sibanye-Stillwater $108 million-move on DRDGold OK'd

South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.

Congo seeks to soothe miners while holding course on changes

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.

South Africa gold miners seen close to silicosis lawsuit settlement

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

Rio Tinto pays biggest divvy in history as profit hits three-year high

Mining giant posts 90% increase in profit amid what CEO Jean-Sébastien Jacques calls “resilient” commodity prices.

Second accident in a week at a Sibanye-Stillwater mine kills two

Two employees were trapped underground and later died in a fall of ground incident at the company's Kloof gold mine.

Mining companies are suddenly positive on South Africa again

Cyril Ramaphosa isn’t even president yet and mining companies are already changing their tune on South Africa.

Gold price: 9 straight years of record annual mine production

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.

South32 prepares to spin off South African coal assets within six months

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.

Zimbabwe to enter lithium market with $1.4bn mine

Country is backing Prospect Resources’ (ASX:PSC) Arcadia lithium project, expected to generate that much revenue over eight years.

De Beers on exploration spree as secures South Africa licences

The Anglo American unit is also said to be eying exploration licences in Zimbabwe and Congo.

Private capital favours investing in copper over gold for first time

New report shows private equity investment in mining jumped to $2.3 billion last year, with the bulk going into copper and battery metals.

Congo seeks more cobalt market control as batteries drive boom

The Democratic Republic of Congo will seek greater control of the global cobalt market by engaging directly with car and battery manufacturers.

Congo’s Gecamines to rework contracts with foreign partners

Some of the company’s international mining partners include major names such as Glencore, China Molybdenum and Ivanhoe.

Randgold doubles dividend as CEO charges against DRC mining code

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.

A third of S.Africa miners say no new investments in 2018 – survey

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.

Randgold calls Congo’s new mining code “draconian”

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.”

Lulo diamonds sell for A$11.4 million

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.