Africa Mining News

CHART: Despite unnerving gold price fall, mining rally's intact

While met coal is clearly the star performer, thermal coal is probably the biggest upset – seaborne prices have jumped 65% in 2016 to above $80 a tonne.

Sibanye Gold resumes operations at Cooke mine after attack

Four employees were attacked by unknown assailants.

Kinross Gold inks labour deal that ends dispute at Mauritania mine

The company had halted production in June following a government inspection that led to a row over work permits, but work resumed in August.

Stellar posts upbeat economic assessment for Sierra Leone’s second largest diamond project

The company said its proposed Tongo-Tonguma mine economic evaluation demonstrates robust financial returns for a modest capital requirement.

De Beers latest diamonds sale the lowest this year

Still, the world’s biggest diamond producer by value said the auction was better than it had expected.

Platinum price back in triple digits

Strikers at top South African platinum producer enter two-year wage deal.

Endeavour further streamlines its organizational structure and appoints new CFO

Vincent Benoit will assume the newly created position of Executive Vice President, Chief Financial Officer and Corporate Development effective November 1.

Endeavour appoints foreign affairs wiz to BoD

Livia Mahler and Olivier Colom were appointed as independent non-executive directors.

Ivanhoe Mines rises 38%, tops the Ubika Mining 20

The Ubika Mining 20 Index (UM20) fell 2.8% over the past month, slipping more than the TSX Venture composite, which was down by 0.7%. The TSX Mining Index, meanwhile, rose 3.1% over the same period.

Glencore reviews bribery allegations against business partner

Och-Ziff’s partner in Congo paid $100 million in bribes to local authorities over a 10-year period to secure access to mining assets. Bloomberg quotes an anonymous source saying Dan Gertler is that partner.

Precious metals, nickel, zinc likely to outperform over next 2 years — analysts

The commodity research teams at Macquarie and Barclays, however, are not as optimistic when it comes to potash, aluminum and steel.

Met coal price surge could revive giant Mozambique project

Vale reworks agreement with Japan's Mitsui that could breathe new life into $4.4 billion expansion of Moatize mine and railway in Southern African nation.

New York hedge fund fined $400m for Congo bribes

Key violations in the Och-Ziff case came in mining and oil and gas deals associated with Israeli billionaire Dan Gertler and DRC president Joseph Kabila.

South Africa’s mining industry continues to face tough times — PwC report

Companies had no choice but to cut back on new developments, re-focus on profitable production rather than maximum production and to save costs.

Namibia’s new uranium mine to triple country’s output by 2017

The country is poised to becoming the world’s third largest producer of the commodity, as the massive Husab mine begins production in October.

No rapid rebound for African mining

Despite continued investment in copper assets on the continent from China and India hunting for coal mines.

Will Anglo stick to radical restructuring plans?

A credit upgrade, a rocketing share price and rally in coal and iron ore call into question downsizing strategy of world's number five miner.

Where will oil prices go after Algiers?

The outcome of negotiations in Algeria this week may not do much to rescue oil prices.

Lundin poised for mega Congo copper deal

Lundin was outplayed in its last major deal, but now looks ready to pull the trigger on $1 billion-plus acquisition of one of Africa's richest copper mines.

Kenya promises a more organized mining sector

The government will conduct a year-long airborne survey to map mineral deposits.

Acacia back up to speed in Tanzania

African miner sticking to full year guidance of 780,000 ounces following plant shutdown amid majority owner Barrick's divestment talks.

Lucapa unearths 172.6-carat diamond, second big find in a week

Large-carat diamonds just keep coming.

ZCCM-IH fails to produce financial report for this year

The Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) has failed for the first time to produce its state o accounts for March 31, this year due to non availability of information from investor companies, according to the company secretary's office Friday.

Nord Gold to join 1 million ounce club

After a difficult first half, Nord Gold's now set up for over 1.2moz per year after start-up at Bouly mine in West Africa and major Russian development.

Ivanhoe and Zijin announce more high-grade copper results at the Kakula Discovery

According to Ivanhoe, the latest results reinforce the exceptional grades and shallow, flat-lying geometry of the Kakula mineralized zone.