Africa Mining News

Cupric Canyon gets $50 million to develop Botswana mine

Khoemacau mine will initially produce 50,000 tonnes of copper and 1.4 million ounces of silver a year, but future expansions could increase output to at least 120,000 tonnes of copper annually.

Acacia Mining says West Kenya project holds high-grade gold

With six drill rigs currently active on site, and two more to follow soon, Acacia expects to increase the resource to 2 million ounces by the end of the year.

Northam Platinum buys Eland mine from Glencore

Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash.

Top 10 lowest cost gold mines make money if price falls 50%

The top 10 ranking of the lowest all-in cost gold mines in the world – former US president Herbert Hoover was once in charge of no. 8 on the list.

US Lithium to mine for copper, nickel, cobalt in Canada’s Saskatchewan

The Gochagar Lake project, until now property of Diamond Hunter, consists of four claims covering 3,759 hectares located in northern Saskatchewan.

Diamond producers go after Millennials with Oscars-time spot

The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.

Endeavour extends Karma mine’s life to over 10 years

A drill program at the mine's North Kao deposit has added 262,000 ounces to the reserves, extending Karma's life to more than 10 years.

Mining exploration spending drops to 11-year low

Miners and explorers are only spending a third of what they did four years ago – and proportion of greenfield exploration are at record lows.

Stellar Diamonds to operate Tonguma mine in Sierra Leone

The company originally intended to combine its Tongo project with Tonguma, but it has now decided to become the mine's operator.

Vale swings back into the black on soaring iron ore prices

The world's No.1 iron-ore producer recorded a net profit of $3.98 billion in 2016, a significant recovery from a loss of $12.13 billion it reported a year earlier.

Glencore’s profit soars on commodities rebound

A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.

World's deepest mine gets $1 billion injection

Work on AngloGold Ashanti's Mponeng gold mine in South Africa started in 1981 – a brownfield expansion project will extend the mine's life beyond 2050.

Anglo American not selling assets any more as it returns to profit

The world's number five diversified miner posted its first annual net profit in five years.

Sherritt mulling Ambatovy retreat to pop debt balloon

Sherritt's dream of lifting Madagascar out of poverty and making a handsome packet for itself from the proceeds of a huge nickel mine appear to be in jeopardy.

New artisanal and small-scale mining guidelines aim to drive up global standards

RCS Global and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) have launched the first universal framework designed to improve how governments manage artisanal and small-scale mining.

Vale’s iron ore output just hit another record

The world’s No.1 iron ore miner produced 349 million tonnes of the steelmaking ingredient in 2016, helped partly by the opening of its massive S11D mine.

These 10 companies spend most looking for gold, copper

Majors and juniors swap roles in $7 billion a year mining exploration sector

Kumba’s earnings doubled on higher prices, cost cutting measures

The Anglo American's unit logged earnings of $607 million for 2016, basically double the $304 million it recorded in 2015.

Another large diamond dug from Lulo

Big, valuable gemstones that may eventually get cut into smaller diamonds keep getting discovered in Angola.

Glencore buys stakes in Mutanda and Katanga mines valued at $960m

Glencore is upping its presence in the African mining landscape through the purchase of stakes in two mines it already partially owns.

Newcrest doubles first-half profit, to pay divvy

The miner attributed the good results to higher metals prices, increased gold and copper output and productivity improvements.

DR Congo’s perfect storm

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.

Thabazimbi mine to be transferred to ArcelorMittal South Africa Ltd

Until 2014 Thabazimbi was a captive mine owned and run by SIOC, but supplying ore exclusively to and funded by AMSA.

Anglo American to sell Kumba despite iron ore rally — experts

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.

Rio Tinto logs first annual gain since 2013 on iron ore rally

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.