Africa

SA gold miners face repeat of brutal 2014 platinum strike

Frik Els | May 13, 2015
SA gold miners face repeat of 2014's brutal platinum strike

The union that led 2014's bitter five-month strike in South Africa's platinum belt has brought the same demands – doubling of wages – to the gold sector.

AngloGold Ashanti back to black

Cecilia Jamasmie | May 11, 2015
AngloGold Ashanti back to black

The miner, which is the world’s No.4 bullion producer, said unreasonable wage demands and escalating power costs in South Africa will likely push the country’s industry down the slippery slope.

Copper, iron ore prices hold up despite China trade shock

Frik Els | May 8, 2015
Copper, iron ore prices hold up despite Chinese trade shock

Overall Chinese imports plummeted 16% in April as coal enters free-fall, but iron ore's decline was modest and copper shipments jumped 5%.

BSGR ordered to hand over Simandou-related documents to UK anti-corruption body

Cecilia Jamasmie | May 8, 2015
BSGR ordered to handle Simandou-related documents to UK anti-corruption body

The UK High Court ruling is the latest setback BSG Resources, which is fighting on multiple legal fronts over the alleged corruption case.

Archaeologists find silver, gold pirate treasure in Madagascar

Cecilia Jamasmie | May 8, 2015
Archaeologists find silver, gold pirate treasure in Madagascar

According to the team of explorers, the silver treasure found belonged to the infamous 17th-century Scottish pirate William Kidd.

Glencore boss blames iron ore top miners for share price fall

Cecilia Jamasmie | May 7, 2015
Glencore boss blames iron ore top miners for share price fall

The company's shares have lost over 40% of their value since it first listed in 2011 on the London Stock Exchange.

ArcelorMittal cuts profit expectations for 2015 amid steel glut

Cecilia Jamasmie | May 7, 2015
ArcelorMittal cuts profit expectations for 2015 amid steel glut

The company now expects earnings before interest, tax, depreciation and amortization, which is a more closely watched metric than net income in the steel industry, to be between $6bn and $7bn.

Capacity development critical to sustaining economic growth in Africa

acbf | May 7, 2015
Over 200 miners trapped underground in illegal South African mine

Prices of commodities are expected to remain high and to be a key driver of African growth over the next few years

Lower gold prices hurt Randgold first quarter profit

Cecilia Jamasmie | May 7, 2015
Lower gold prices hurt Randgold first quarter profit

The Africa-focused gold producer saw its first-quarter profit fall16% due mainly to lower bullion prices and reduced production.

Iron ore price blasts past $60

Frik Els | May 6, 2015
Iron ore price soars past $60

Steelmaking raw material now up 28.7% from decade lows hit last month.

South32 gets going after BHP investors strong support, sees M&A opportunities

Cecilia Jamasmie | May 6, 2015
South32 gets going after BHP investors strong support, sees M&A opportunities

BHP Billiton shareholders have overwhelmingly voted in favour of the South32 demerger, a spin off that creates Australia’s third-largest mining company.

Would Palladium replace gold as engagement rings choice of metal?

NaturallyColored.com | May 6, 2015

Gold has concentrated lots of interest in the past 6-7 years due to the economic crisis.

South Africa delays court decision on black ownership of mines

Cecilia Jamasmie | May 5, 2015
South Africa delays court decision on black ownership of mines

The mines ministry has missed an April deadline to ask courts solve the issue of whether companies may claim they meet black-ownership quotas if shareholders have sold their stakes.

Lucara sells stake in African diamond project to Paragon for $8.5m

Cecilia Jamasmie | May 5, 2015
Lucara sells stake in African diamond project to Paragon for $8.5m

Developing Mothae and Lemphane concurrently would allow Paragon to benefit from significant economies of scale, said Paragon Diamonds.

Outside money starts to pour into mining M&A

Frik Els | May 4, 2015
Report: Outside money starting to pour into mining M&A

Mick Davis hasn't spent a cent of his $6bn, but private money and non-mining players' share of M&A has already doubled in less than three years.

This plant may be the best diamond-finding tool you’ll ever have

Cecilia Jamasmie | May 4, 2015
This plant may be the best diamond-finding tool you’ll ever have

American geophysicist and Fulbright scholar, Stephen Haggerty, has found a new prickly, palm-like plant that seems to grow only on top of kimberlite pipes.

RioZim seeks partnerships for $2.1bn Zimbabwe power plant

Bloomberg | May 4, 2015

RioZim Ltd., which mines gold, diamonds and coal in Zimbabwe, wants to work with state-owned power utilities in South Africa and Namibia to build a 1,400-megawatt electricity plant near its Sengwa coal fields.

Rio Tinto ready to resume hunt for mining deals — report

Cecilia Jamasmie | May 1, 2015
Rio Tinto ready to resume hunt for mining deals — report

If the miner buys any assets this year, it would be Rio's first acquisition in about three years.

Vale falls victim of the iron ore slump, posts $3.2bn loss

Cecilia Jamasmie | April 30, 2015
Vale falls victim of the iron ore slump, posts $3.2bn loss

Today's results are the lowest earnings Vale has reported in six years and its third straight quarterly loss.

Zimbabwe eliminates tax on diamond sales, for now

Cecilia Jamasmie | April 30, 2015
Zimbabwe eliminates tax on diamond sales, for now

The measure aims to stimulate production and attract investment in the sector, amid low international prices for the coveted gems.

Iron ore price rally turns into dead cat bounce

Frik Els | April 29, 2015
Iron ore price rally turns into dead cat bounce

Iron ore price falls 4% on Wednesday as oversupply, Chinese steel fears return.

Zambian mines may lose four days’ copper output after power cuts

Bloomberg | April 28, 2015

Africa’s second-biggest copper producer, may lose as much as four days’ output of the metal after the country’s power grid went down on Monday, the mines chamber said.

Majority of Barrick’s shareholders rejects compensation plan

Cecilia Jamasmie | April 28, 2015
Majority of Barrick’s shareholders rejects compensation plan

As much as three quarters of investors voted in favour of a non-binding motion to change the way the gold giant compensates its executives.

Picking undervalued gold equities is akin to picking strawberries: Randall Abramson

The Gold Report | April 27, 2015
straberries gold report

Pick one: long gold or short gold?

Copper price through 2020: Onwards and upwards

Frik Els | April 27, 2015
Copper price through 2020: Onwards and upwards

CRU principal consultant Christine Meilton predicts a rising trend topping $3.60 a pound by 2019, but thereafter China-induced weakness returns.

Iron ore recovery gives miners breathing space

Cecilia Jamasmie | April 27, 2015
Iron ore recovery gives miners breathing space

Prices for the steel-making material added Monday US$1.28 or 2.17% to US$59.09 a tonne, taking its gain since bottoming on April 2 to 25%.

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