Africa

BHP Billiton beats iron ore guidance, takes copper write-downs

Cecilia Jamasmie | July 22, 2015
BHP Billiton beats iron ore guidance, takes copper write-downs

The world's No.1 miner will continue boosting its iron ore output, adding to a global glut and keeping pressure on prices.

Prepare for flood of copper concentrate

Frik Els | July 15, 2015
Prepare for flood of copper cocentrate

New data by International Copper Study Group predicts copper mine output will grow 5.7 million tonnes by 2018 as Peru, Zambia and Mexico ramp up production.

Anglo American likely to cut dividend amid commodities collapse

Cecilia Jamasmie | July 15, 2015
Anglo American likely to cut dividend amid commodities collapse

It would be the first time since 2009 that Anglo has to cut dividends.

Dodd-Frank: Five years and $1.5 trillion later

Oxfam America | July 15, 2015

In the five years since the Dodd-Frank Act passed, oil produced in developing countries was worth an estimated $1.55 trillion for those governments. But because the landmark US transparency law remains delayed, any payments that flowed to governments took place with limited or no transparency.

Skills development and human resource capacity building needed to keep Mozambican economy on high growth trajectory

African Influence Exchange | July 14, 2015

As Mozambique sits on the precipice of a rapidly growing gas, mining, infrastructure and energy economy, investors, business, unions, government and social stakeholders are walking an unchartered road.

Congo’s Gecamines sells copper assets to Chinese for $52 million

Cecilia Jamasmie | July 14, 2015
Congo’s Gecamines sells copper assets to Chinese for $52 million

The deal increases Chinese miners presence in Congo, which is Africa’s top copper producer and the world’s largest producer of cobalt.

True Gold injects $14 million to its Karma gold project in Burkina Faso

Cecilia Jamasmie | July 13, 2015
True Gold injects $14 million to its Karma gold project in Burkina Faso

The Vancouver-based company said it is on track to pour its first gold at the mine in the first quarter of 2016.

Commodities rout hits diamond industry, prices down 3.4 pct in first half of 2015

Cecilia Jamasmie | July 10, 2015
Commodities rout hits diamond industry, prices down 3.4 pct in first half of 2015

In the past year, they've lost 9.4% of their value, the recently launched Zimnisky Global Rough Diamond Price Index shows.

Platinum, palladium price drop accelerates

Frik Els | July 9, 2015
Platinum, palladium price drop accelerates

Data showing South African production up 88% in May from a year ago pushes platinum to levels last seen in 2008 while palladium falls to 2-and-a-half year low.

Cecilia Jamasmie

Iron ore prices: the worst is yet to come

Cecilia Jamasmie | July 9, 2015
Iron ore prices: the worst is yet to come

Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.

UN Human Rights unit roasts Canada over mining, aboriginal treatment

Cecilia Jamasmie | July 8, 2015
UN Human Rights unit roasts Canada over mining, aboriginal treatment

The human rights committee is currently meeting in Geneva, Switzerland, ahead of finalizing its report and is hearing from Canadian non-government groups, including Amnesty, and from the federal government.

S. Africa campaigners jump all over Marikana killings report

Cecilia Jamasmie | July 8, 2015
S. Africa campaigners jump all over Marikana killings report

They claim the official report on the police killing of 34 striking miners in 2012 is a "gross defamation" of those who died.

Cupric to spend $200 mln to build Botswana copper mine

Reuters | July 7, 2015

Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200 million to bring its copper-silver mine in Botswana to production.

Copper prices hit 6-year low, blame China

Cecilia Jamasmie | July 7, 2015
Copper prices hit 6-year low, blame China

As high volatility in the Chinese stock-market reinforced worries of a dropping demand from the nation, the world’s top metals consumer.

These are the top business risks mining and metals firms face

Cecilia Jamasmie | July 7, 2015
These are the top business risks mining and metals firms face

Getting — and keeping — a social license to operate, as well as resource nationalism, remain among the top five business risks for the industry.

Botswana seeks bids to build solar plants for mines

Reuters | July 7, 2015

Botswana's government launched a bidding process on Tuesday to construct solar power plants near its huge Jwaneng diamond mine.

Tanzania puts former mining minister behind bars over gold deal

Cecilia Jamasmie | July 6, 2015
Tanzania puts former mining minister behind bars over gold deal

He was found guilty of issuing illegal tax exemptions to a gold audit firm, which cost the government millions of dollars in lost revenues.

South Africa’s main union rejects gold firms wage offer

Cecilia Jamasmie | July 6, 2015
South Africa’s main union rejects gold firms wage offer

Companies are keen to avoid a repeat of last year’s five-month platinum strike, but their ability to raise salaries is limited.

New mining code in Burkina Faso should not affect current operations — Iamgold

Cecilia Jamasmie | July 6, 2015
New mining code in Burkina Faso should not affect current operations — IAMGOLD

The code, which is yet to be formalized into law, respects clauses in existing deals, said the miner.

Iron ore hits four-month low

Cecilia Jamasmie | July 3, 2015
Iron ore drops to four-month low

As fresh reports provided further evidence of a slowing Chinese economic and consequently increasing stock piles up at its ports.

China’s rate cuts to slow copper demand even further — report

Cecilia Jamasmie | July 3, 2015
China’s rate cuts to slow copper demand even further — report

China's central bank commitment to ensure policy remained prudent this year may mean no more monetary stimulus, which could see copper demand growth slow further.

The missing diamond shortage

Bloomberg | July 3, 2015
Alrosa sells bank, to focus exclusively on diamond mining

If you’ve ever been to a diamond investment pitch you’ve probably seen ‘The Chart,’ the one where diamond demand soars, while supply trails forlornly in its wake.

Anglo American laying off up to 20% of its staff as investors press for further savings

Cecilia Jamasmie | July 2, 2015
Anglo American laying off up to 20% of its staff as investors press for further savings

Cuts likely to be announced at the end of the month, when the miner is set to publish its first-half results.

Iron ore falls below the $60 mark again

Cecilia Jamasmie | July 1, 2015
Iron ore falls below the $60 mark again

The value of the commodity has fallen by about 35% over the latest 12-month period, hitting Australia’s economy harder than expected.

Kimberly Diamonds shifts to Africa

Australian Mining | July 1, 2015

Kimberley Diamonds is shifting focus to the Lerala mine in Bostwana, which will be its key source of revenue.

When it comes to conflict mining regulation, should one size fit all?

Sonal Sinha | July 1, 2015
American businessmen accused of using fake gold mine to get $1m from investors

Conflict mining remains an important issue, and one we are beginning to see governments step in to address in different ways.

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