Africa Mining News

Too early to bet on mining policy change: Congo vote reaction

In a surprise twist, Democratic Republic of Congo opposition leader Felix Tshisekedi was declared the winner of last month’s presidential election.

Lucara Diamond kicks off the year with 127-carat find at Karowe

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.

Sibanye-Stillwater expects gold output to miss forecast amid wage strike

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.

Acacia Mining fined over alleged environmental breach in Tanzania

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.

Tanzania's Magufuli wants central bank to buy gold as part of its reserves

Tanzanian President Magufuli said the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency.

Centamin gold output falls 13% in 2018 on decline at flagship mine

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.

Tanzania names latest mining minister in ongoing industry clash

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 Diamond to focus on Bostwana mine this year

Lucara aims to recover between 300,000 and 330,000 carats from Karowe this year.

Sibanye counts hit to earnings as strike at gold mines drags on

“Sibanye can’t absorb losses from its gold business for a protracted period"

Congolese mining company leaves ITSCI certification scheme over cost

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.

Congo election results delayed past Sunday deadline

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.

Zambia Vedanta unit halts operations at underground mine on tax concerns

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.

Investment in cobalt is fraught with problems and is unlikely to bring about long-term dividends

Global demand for cobalt is rocketing, with the rate of annual increase now at 8-10%.

The mining world watches as Congo counts votes for next leader

The Democratic Republic of Congo is in uncharted waters as the nation awaits election results marking the end of President Joseph Kabila’s rule.

Zambia says audit shows mining firms in arrears to government

Mining companies have been demanding Zambia pay the $550-$600 million due to them in Value Added Tax (VAT) refunds.

Congo slashes cobalt output estimate for Jan-Sept 2018

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.

Zambia says mines have failed to show impact of higher taxes

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.

Centamin reshuffles board amid production hitches at Sukari mine

Josef El-Raghy had moved from executive chairman to chairman, as the search for a successor continues.

Rio plans to delay ex-CEO's bonus again amid Guinea probe

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.

New era for Barrick Gold begins

Barrick now trades as GOLD in New York and continues as ABX in Toronto.

Blackwater founder launches fund to invest in electric car battery metals

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.

Ballots replace bullets as mineral giant Congo holds vote

This weekend, the vast central African nation is banking on a new method: the ballot box.

Human activity creates 208 new mineral species

Study shows mining has sparked "unparalleled inorganic compound diversification" like rabbittite at Lucky Strike, Utah and a handful found on smelter walls

Russia's Nornickel terminates agreement with Botswana's BCL on asset sale

The termination of the agreement will also enable Nornickel to pursue its own strategy for the African assets.

How to profit from low-grade gold mines

Mining costs rose steadily through the 2000s which should have hurt a lot of gold miners. But it didn’t.