In a surprise twist, Democratic Republic of Congo opposition leader Felix Tshisekedi was declared the winner of last month’s presidential election.
Africa Mining News
The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012.
The company's gold output in 2018 will be lower than forecast as almost half of the employees stopped working since mid-November in a wage strike.
Barrick’s Acacia Mining has been hit with a 300-million Tanzanian shillings fine (about $129,144) over allegations of environmental breaches at its North Mara mine.
Tanzanian President Magufuli said the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency.
The company produced 472,418 ounces of gold at its Egypt-based Sukari mine last year, compared to 544,658 ounces in 2017, due to disruptions and lower grades at the operation.
A prolonged spat between the government and gold producer Acacia over a $190 billion tax bill has severely limited the company's operations in the East African nation.
Lucara aims to recover between 300,000 and 330,000 carats from Karowe this year.
“Sibanye can’t absorb losses from its gold business for a protracted period"
Societe Miniere de Bisunzu (SMB), has given 30 days notice to end its contract with ITSCI, a responsible supply chain initiative, citing the scheme's rising costs.
Government has delayed the release of provisional results from last week’s presidential election as criticism of the country’s handling of the vote grew.
Konkola Copper Mines (KCM), majority owned by Vedanta, suspended operations at its Nchanga mine following the introduction of an import duty on copper concentrates, the company said.
Global demand for cobalt is rocketing, with the rate of annual increase now at 8-10%.
The Democratic Republic of Congo is in uncharted waters as the nation awaits election results marking the end of President Joseph Kabila’s rule.
Mining companies have been demanding Zambia pay the $550-$600 million due to them in Value Added Tax (VAT) refunds.
The revision means that output of cobalt rose 35.9 percent compared to the same period in 2017, rather than 92.5 percent as the bank said previously.
The Chamber of Mines said that as a result of the changes, more than 58% of Zambia's copper producers would be loss-making at current prices.
Josef El-Raghy had moved from executive chairman to chairman, as the search for a successor continues.
Rio said it would postpone any short- and long-term incentives owed to Sam Walsh for a minimum of two years. Rio is now planning to extend that time period.
Barrick now trades as GOLD in New York and continues as ABX in Toronto.
The founder of the US private security company aims to raise as much as $500 million to invest in deposits of metals such as cobalt, lithium and copper.
This weekend, the vast central African nation is banking on a new method: the ballot box.
Study shows mining has sparked "unparalleled inorganic compound diversification" like rabbittite at Lucky Strike, Utah and a handful found on smelter walls
The termination of the agreement will also enable Nornickel to pursue its own strategy for the African assets.
Mining costs rose steadily through the 2000s which should have hurt a lot of gold miners. But it didn’t.