Africa Mining News

South Africa's Implats CEO confident of funding during restructuring

Implats is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider full-year loss.

Gold Fields plans to extend life of Peru mine through 2040

South African miner Gold Fields Ltd aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240 million.

Congo mines minister insists no compromise on new mining code

Democratic Republic of Congo's mines minister said that a new mining code signed into law that hikes royalties and taxes cannot be called into question.

Congo plans to build special economic zone for cobalt users

The area will allow producers of electric vehicles, smartphones and other goods to “install themselves in the DRC".

South Africa's iron ore railway to be shut down for annual maintenance

The railway line stretches up to 861 km (534 miles) from iron ore mines at Sishen in the Northern Cape to the Saldanha port in the Western Cape.

Swiss scientists developing method to detect low-temperature heated rubies from Mozambique

Since their discovery in early 2009, the ruby deposits near Montepuez in Mozambique have produced an impressive number of exceptional-quality stones.

Exxaro, Seriti are said to mull bids for South32 coal assets

South32’s South Africa Energy Coal unit, the country’s third-biggest exporter of the fuel, was split into a standalone business earlier this year.

Contract mining: The good, the bad and the ugly

The mining industry is an integral contributor to the South African economy, especially in terms of employment.

'Will I come back dead?' Human costs of South African gold

After more than two decades of improving mine safety since the end of apartheid, South Africa’s progress has stalled with an increase in gold-mining deaths.

Congo mining revenues triple in H1; oil revenues fall by a third

Democratic Republic of Congo's revenues from its mining sector nearly tripled in the first half of 2018 over the same period last year to $864.61 million.

Zimbabwe will accelerate debt plan, Finance Minister says

Zimbabwe will fast-track plans to settle its debt arrears, a key step needed to restore investor confidence in the country’s economy.

Danakali banks on new investor mood to fund Eritrean mine

Fertiliser miner Danakali aims to raise $322 million this year to develop giant potash reserves in Eritrea.

Giant diamonds has been mining's one success story this year

This summer’s crash in commodity prices is turning it into a year to forget for miners. Unless you dig the world’s biggest diamonds.

South Africa to make oil, mining announcement in says, ANC says

An agreement has been reached on separating laws for the country’s oil industry and dropping a bill to govern the two sectors.

South African miner Assore reports profit fall on stronger rand

Assore reported a 1.9 percent fall in annual profit on Thursday as a strong rand currency offset favourable commodity prices and higher sales.

Embattled Acacia Mining lets partner up stake in Nyanzaga gold project

 Acacia — Tanzania's No.1 gold miner— will retain a net smelter return production royalty over the project, capped at $15 million.

China's CITIC to be Ivanhoe Mine’s top shareholder in $548m-deal

Transaction, which gives CITIC a 20% stake in the Canadian miner, has received all necessary approvals and it’s expected to close on Sep. 19

Tongon back in business after lock-out lifted

Negotiations between management, workers, community leaders and the government created an agreement under which workers are being re-employed in phases.

Biggest Congo coltan miner resumes buying after output halt

Societe Miniere de Bisunzu Sarl resumed purchases of the ore after a three-month shutdown at one of the country’s largest deposits.

Zambia to trim budget gap; May be considering higher mine taxes

The Finance Ministry is targeting a budget shortfall of 6.5 percent of gross domestic product next year, compared to 7.4 percent this year.

Lithium price plunge claims first victim

Namibia's Desert Lion Energy ceases all operations as Chinese lithium prices plummet to three-year lows – down by half since the start of 2018.

South Africa's Sibanye launches $400m bond buyback

Sibanye said in a statement that it would fund the tender offer from existing cash resources.

Lonmin's largest shareholder backs takeover by Sibanye-Stillwater

Lonmin has been the biggest casualty in South Africa's platinum mining industry.

Uranium's rally built on supply cuts, looks overcooked for now: Russell

The year-to-date gain is 16.6 per cent, and the metal used to power nuclear reactors is on track to record a second annual increase.

Birimian eyes 2020 production at $199m Mali lithium mine

The Goulamina mine is one of the world’s largest undeveloped high-grade lithium deposits and will represent 15% of the current global lithium supply.