Stuart Chambers faces investor calls for clear direction at the company, long seen as a potential takeover target.
Africa Mining News
Fura Gems aims to resume production at the mine within six months of the deal closure.
Prices for cobalt metal, used in production of electric vehicle batteries, have tripled to nine-year peaks above $30 a pound from below $10 a pound in late 2015.
The best diamonds in the world come from the sea.
Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital.
Alliance Mining Commodities will invest $670 million over the first five years of production at its mine in northwestern Guinea, Saadou Nimaga.
Disappointed shareholders sink Barrick Gold shares 7.6% after $300m settlement with east African country over export ban is labelled a "downpayment".
The miner said its all-in sustaining costs to produce an ounce of gold rose $18 to $943 due to higher exploration and project expenses.
The fight started when residents of the central Sahara mountain region felt disturbed by artisanal miners.
The filing cited Anton Colbert of Cook County, Illinois, as lead plaintiff but his action acts in the name of “hundreds or thousands of members in the proposed class.”
World's number one gold producer swings to loss during third quarter.
Gold producer says its total gold output from mines fell to 522,917 oz in the quarter ended Sept. 30 from 615,498 oz in the same period a year earlier.
Precious metal is up 114% or $880 an ounce in 2017 as above-ground stocks are "bled dry".
Shareholders argue Barrick decision to hand Tanzania 50 percent of "economic benefits" from Acacia's mines may set baseline for future host nations' demands.
Kumba Iron Ore increased its full-year production target by 1-million tonnes.
Chief Financial Officer Andrew Wray said the company doesn't even have the ability to make the upfront $300 million payment Barrick has promised to the government of Tanzania as part of a deal reached Thursday.
Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.
The deal does not mean Tanzania will immediately lift the demand for Barrick's subsidiary Acacia Mining to pay $190 billion in allegedly unpaid taxes.
It will sell its newest mine to Harmony Gold for $300 million and another mine for 100 million rand ($7.4 million) to China's Heaven-Sent SA Sunshine Investment Company.
SOLA Future Energy has succeeded in designing and constructing a solar energy microgrid for Robben Island.
Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.
Precious metals miner said its platinum group metals (PGM) operations had delivered "solid operational results" in the first-half of 2017, prompting an upward revision to its 2017 production forecast and a downward revision to guided costs.
Company will pay $30 million for a 15 percent interest in a platinum project in the northern Waterberg region and had an option to acquire a majority stake in the development.
Deal allows the Stellar to focus on its bigger Tongo-Tonguma project in Sierra Leone, which would be the country's second largest diamond mine ever.
Company said it expects production of between 50,000 and 55,000 ounces of gold from its new mine in south-western Mali to bring total metal production for 2017 to between 530,000 and 570,000 ounces of gold.