The gold mining industry that built South Africa and produced about half of the yellow metal that’s ever been dug up seems now to be in terminal decline.
AngloGold Ashanti Mining News
Sibanye faces competition from two rivals if it wants to buy South African gold mining assets that AngloGold Ashanti Ltd. plans to sell.
According to the Responsible Mining Foundation, most of the companies assessed show little or no evidence of efforts to strengthen the gender balance of their leadership and governance teams.
The move will hand Alpha Conde more authority over the country’s holdings in some of the world’s biggest bauxite deposits.
The world’s No. 3. gold producer may have contravened black economic empowerment rules tied to its mining rights when it awarded a 4.5 percent stake to employees instead of 6 percent.
Work is scheduled to begin in the June quarter, with first gold expected in the second half of 2020.
AngloGold Ashanti's joint venture Sadiola mine expects its gold output to drop by 50% this year.
Firms to be affected include AngloGold Ashanti, Harmony Gold, Anglo American Platinum and Lonmin.
The mayor of the town of Jerico had ordered a suspension of the work in January after the council voted late last year to ban mining in the area.
The utility gives the industry notice to reduce their power consumption by 15–20% when the national grid is at its tightest.
The miner has completed the first week of underground development blasting at its Obuasi mine, in Ghana.
The company was not carrying out mining exploration at the site.
The announcement was made after both companies confirmed the original terms of an earn-in agreement they signed back in 2017.
“The sequence of events that led to the closure of the mine will not recur under the watch of this government.”
Bloomberg speculated two South African firms could combine to create 6 million ounce per year producer as merger fever grips the gold mining industry.
AngloGold is considering hiving off its South African operations and listing in London or Toronto.
A prefeasibility study into the development of a mine beneath the Boston Shaker pits confirmed the technical and financial viability of an underground mine at AngloGold Ashanti and Independence Group's Tropicana operation.
According to Forjando Futuros foundation, the forced displacement was ordered by the companies but executed by either the National Army or the guerrilla.
Full operation begins October 31.
Three-year wage deal may inch the country's gold industry a closer to ending a standoff over pay.
The government considers minerals with the "strategic" designation important for the economic, social and industrial future of the country.
Operations have resumed at AngloGold Ashanti's Siguiri gold mine in Guinea
Kelvin Dushnisky, who leaves Acacia and its parent company Barrick, assumes as South Africa’s AngloGold Ashanti (JSE:ANG) new boss next week.
Wage negotiations in the gold sector are at a deadlock and the South Africa's National Union of Mineworkers (NUM) has declared a dispute, a move that is one step short of a strike.
The turnaround in performance was mainly the product of increased output, reduced net debt and lower-than-expected restructuring costs.