Africa Mining News

AngloGold says there's no escaping demise of South African gold

Output will continue to shrink as miners chase ever-deeper ore bodies while struggling to keep costs down.

South Africa's Harmony says FY output exceeds guidance

South Africa's Harmony Gold said on Monday annual bullion production for 2018 has exceeded its guidance, boosted by its Moab Khotsong operation.

Petra shares drop after it cuts 2019 diamond production forecast

The miner said it expects to produce 4.6 million to 4.8 million carats in 2019, well below the 5.0-5.3 million carats it forecast in July last year.

Barrick’s Dushnisky quits, becomes AngloGold new CEO

Dushnisky will join AngloGold in September, ending the search to replace Srinivasan Venkatakrishnan, who left the world’s third-biggest gold miner in April to run India’s Vedanta.

Acacia boss is getting frustrated waiting for Barrick Solution

It’s been a year since Acacia Mining Plc’s majority shareholder started talks on its behalf to end a standoff with the Tanzanian government.

AngloGold Chairman warns South Africa on ‘reckless’ mining rules

The latest Mining Charter doesn’t provide solutions to the industry’s challenges and will make it difficult for companies to buy and sell assets.

Miners wrote off almost one-third of investments over last decade

From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.

Guinea's mining minister says there will be Simandou deal, talks go on

Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. […]

South Africa gold producers offer single-digit hikes — document

Producers have been giving above-inflation wage hikes for years, adding to the cost burden of an industry that has been battling in the face of depressed prices, labour unrest and soaring power bills.

Lincoln Strategic International expands operations to Africa – Charles Matthews to lead

Lincoln Strategic International announced today the expansion of its service offerings with the launch of LSI Africa, which addresses the human capital acquisition and management issues faced by mining companies, project consultants and investors in Africa

South Africa's Solidarity union to agree wage deal with Eskom

South Africa's Solidarity trade union will accept a three-year wage offer from state-run power utility, Eskom.

South Africa's Amplats, PIC create venture fund to lift PGM industrial demand

The world's no. 1 platinum producer has spun off an internal fund and invested $100 million in a new venture capital fund

S. Africa unions decry fatalities as six die at copper mine

South Africa’s mining industry is heading for the deadliest year since 2012 after six people died in an underground fire at Palabora Mining.

African conglomerate Moti is open to $500m stake sale

Moti said he’d be willing to sell as much as 25 percent to the right partner, but ruled out any prospect of an initial public offering.

Fura Gems grabs more ruby assets in Mozambique

Gemstone producer us is expanding its footprint in Mozambique by acquiring nine ruby assets from ASX-listed Mustang Resources and Regius Resources Group.

Randgold’s Tongon mine in Ivory Coast hit by strike

Labour action has brought gold production to a halt.

Wheaton buys all gold, some palladium from Sibanye US mines

Streaming deal involves production from Sibanye's Stillwater and East Boulder mines, located in Montana.

Africa's richest man signs $650 mln Afreximbank loan for oil refinery

The seven-year term loan would attract a moratorium of five years, according to facility terms read out during the signing.

Glencore shareholders mull suing firm over corruption, bribery probes

They claim mounting investigations into the firm’s dealings in the DRC, where it’s heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.

Barrick clips 2018 copper production outlook, sees higher costs

Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia.

Rio Tinto's minerals sands operation in South Africa shut by protests

A mineral sands operation on the South African coast run by Rio Tinto has been closed since Friday due to violent community protests which saw a security guard killed earlier this week, the company and a union said on Wednesday.

Experts come up with plan for protecting deep-sea life from mining

An international group of researches have recommended 18 quantitative metrics that regulators can use to assess seabed mining projects.

Wage talks begin in South Africa's shrinking gold industry

Negotiations start against the backdrop of stark declines in the industry that was once the world’s largest.

Huge diamonds keep coming out of Lucapa’s Lulo mine in Angola

This time is a 114-carat white stone.

2,500 job cuts weren’t enough for world’s no. 2 platinum miner

Implats isn’t the only one facing difficulties, with about half of the industry’s production estimated to be unprofitable.