The Anglo American's unit logged earnings of $607 million for 2016, basically double the $304 million it recorded in 2015.
Africa Mining News
Big, valuable gemstones that may eventually get cut into smaller diamonds keep getting discovered in Angola.
Glencore is upping its presence in the African mining landscape through the purchase of stakes in two mines it already partially owns.
The miner attributed the good results to higher metals prices, increased gold and copper output and productivity improvements.
A leaked White House memo, which outlines the suspension of a portion of the Dodd-Frank rule on ‘conflict minerals’, will exacerbate already high levels of violence in DR Congo.
Until 2014 Thabazimbi was a captive mine owned and run by SIOC, but supplying ore exclusively to and funded by AMSA.
While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.
Shareholders will be the main beneficiaries of the company's cautious approach to capital expenditure in the last three years as it will pay bigger-than-expected divvy of $1.70 per share.
An armed attack on the Twanziga gold mine in eastern Democratic Republic of Congo (DRC) Tuesday has resulted in four casualties.
The 67.87-carat gem quality octahedron diamond, unearthed during production ramp-up, is the largest of its kind recovered to date at the remote mine.
Indian consortium plans to restart Benga mine in Mozambique bought from Rio Tinto for a fraction of Melbourne company's original purchase price.
The US Securities and Exchange Commission is reconsidering the rule, which requires companies to trace and report whether their products contain minerals from a war-torn part of Africa.
The miner, Africa's largest iron ore producer, will pay R2.5 billion, considerably less than the original R6.5 billion it had been asked to cough up.
Judge revoked an interim order that prevented the company from relocating graves present at its Platreef platinum group metals mine, in Limpopo Province.
African Infrastructure Investment Managers (AIIM), a leading African infrastructure equity investment manager and member of Old Mutual Alternative Investments (OMAI), has announced the successful acquisition of a 60% effective interest in DSM Corridor Group Tanzania (DCG), a specialist dry bulk terminal operator in the Port of Dar es Salaam.
The new Act is largely considered to be a modern piece of legislation that is clear in terms of timelines and structures, but that still has a few challenges that need to be addressed.
Private equity firm Orion selling $1 billion worth of royalty, streaming and offtake assets covering gold, silver, base metals and diamonds.
Employees who had staged an illegal sit-in at the mine returned to work Wednesday after management and authorities reached a deal with them, the company said.
While companies face different outlooks and challenges depending on the commodity they mine and their size, Deloitte says they should all should be looking for the answer to one common question — “Going forward, where should we play and how can we win?"
The project, which has existing infrastructure, a camp and a diamond processing plant in place, is located just 5km from Letšeng, the highest dollars-per-carat kimberlite diamond mine in the world.
Rainbow Rare Earths plans to restart the Gakara mine, which operated for 30 years until 1978, and that still holds high grade of the coveted elements.
Newcrest's gold production dropped to 614,715 ounces in the quarter ended in December, from 615,498 ounces in the three months immediately prior and 620,691 ounces a year ago.
Company said talks are underway to stop an illegal sit-in that started last week by some employees demanding annual ex-gratia payments.
Only Africa and Oceania bucking the trend says new study.
The Africa-focused diamond miner said it expects to resume trading before the open on Tuesday next week.