Africa Mining News

Fleurette responds to Global Witness Congo royalties report

Israeli financier Dan Gertler's firm disputes report outlining purchase from Congo state-owned miner of royalty streams from Glencore-owned copper mines.

Rio learnt about Simandou dubious payment over a year ago — report

Company is said to have found out about the emails referring to a questionable $10.5m payment to a consultant over the Guinea project more than a year ago, not 'just' in August, as it claimed.

Less than shiny: De Beers recent sale the lowest this year

The world’s top diamond producer by value said results were in line with expected seasonal demand patterns.

Gold miners to add 10m ounces per year by 2020

But US gold mining industry will stagnate says BMI Research in new study.

New initiative aims to advance responsible sourcing of raw materials in technology supply chains

The EICC and CFSI Launch the Multi-Industry Responsible Raw Materials Initiative (RRMI).

Chinese tighten grip on Tenke mine as Lundin agrees to sell stake for $1.14bn

Canada’s Lundin, which owns 24% of Tenke, has finally agreed to sell its stake to a private equity firm from Asia’s richest nation.

Report: DRC signs over $880m royalties to president's friend

Global Witness: Royalty stream from Glencore's KCC copper-cobalt operation transferred to offshore company controlled by Israeli billionaire Dan Gertler.

Rio Tinto staff shaken to the core by bribery probe — CEO

Speculation is running and some of what is being said strikes at the heart of the culture and values of the company, chief executive officer Jean-Sébastien Jacques said in an internal memo.

Canada’s Kirkland Lake soars after Gold Fields confirms $1.4bn rejected offer

Offer came on the heels of Kirkland Lake's move to buy fellow bullion miner Newmarket Gold (TSX:NMI) in an all-stock deal worth about Cdn$1 billion ($764 million).

AngloGold loses 74,000oz during third quarter

Safety related stoppages in South Africa take part of the blame for year-on-year fall in production at world's third largest gold miner.

Lonmin ups stake in Pandora platinum mine

Consolidation in South African's platinum mining sector continued on Friday with Lonmin's decision to buy Amplats' stake in the Pandora platinum mine.

Harmony logs record quarterly revenue, halves debt

The world's fifth largest gold miner increased production, had stronger cash flows and paid shareholders a dividend in the first quarter of its 2017 financial year.

Positive legislative developments afoot for South Africa’s oil and gas industry

Amendments aim at streamlining inter-departmental processes and addressing the discretionary nature of certain ministerial powers.

Rio Tinto energy and minerals chief suspended over Simandou bribery claims

Alan Davies suspended after miner found payments made to consultant in 2011, when he was in charge of the iron ore project.

Weak commodities put infrastructure growth in emerging markets at risk — BMI

Countries heavily reliant on their extractive sectors need to step up efforts to lure investors or they will see their infrastructure sectors stalled, warn analysts.

Lucapa soars on record sales from Angola mine

The stock jumped after it announced it had fetched $8.3 million for 1,864 carats of rough diamonds from its Lulo project.

South32 scoops up Peabody's Metropolitan coal mine in $200m deal

The deal includes a 17% interest in the Port Kembla Coal Terminal, south of Sydney.

Rio's Simandou sale 'could crush the price of iron ore'

"It would of obvious strategic benefit for China to control a major iron ore deposit and add new supply to discipline the market."

Glencore did better as commodity trader than miner in Q3

While output was down for most commodities it mines and sales, it has improved earnings forecast for its trading unit.

Randgold eyes three new mines as higher gold prices boost profit 55%

The gold miner also expects to be in a position to increase dividends by the end of the year.

Fight for giant Congo copper mine heats up

DRC prime minister throws weight behind Chinese buyers of Freeport's controlling stake in Tenke Fungurume.

World's fifth-biggest gold miner pleasantly surprised

The Toronto-based gold producer revealed that its net earnings were $2.5 million, or zero a share, in the three months through September.

Orion Gold continues high-grade zinc, copper hits in South Africa

Orion has revealed further high-grade drilling results from its ongoing diamond drilling program at the historical Prieska Copper Mine.

This is the world’s largest flawless heart-shaped diamond

Graff plans to showcase it around the world before setting it as a jewel.

More policy attention needed on artisanal mining — UNCTAD

Artisanal and small-scale mining offers opportunities to generate jobs, reduce poverty, and provide livelihoods, but this sector has been largely ignored by policy-makers and donors, an UNCTAD official said.