AngloGold Ashanti Mining News

South Africa black ownership to roll out in May

Newly appointed Minister of Mineral Resources Gwede Mantashe said the key to regain investors and miners confidence in the South Africa’s mining sector was to finalize revised plans for black ownership in the industry in the coming weeks.

Mali says negotiating mining code revision but could act unilaterally

Mali's government is negotiating with mining companies to draft a new mining code but will move to implement a new law unilaterally if no compromise is reached, the West African country's economy minister said. Many […]

S.Africa gold miners' silicosis lawsuit settlement expected within six weeks

The suit was launched around six years ago on behalf of miners suffering from silicosis, contracted by inhaling silica dust in gold mines.

South Africa's AngloGold backs Randgold's negotiations with Congo govt

Mining companies operating in the country vigorously oppose new code to be signed into law.

The world's top 10 largest gold mining companies – 2017

Rough year shuffles ranks of global gold mining giants as Freeport makes a comeback – 2018 forecasts point to another tumultuous year.

AngloGold to revive Ghana mine that battled illegal miners

Obuasi is expected to start gold production by the third quarter of 2019.

Randgold calls Congo’s new mining code “draconian”

Mark Bristow says the law will “severely limit the growth of the mining industry in the DRC as well as the country's own economic prospects.”

Harmony Gold says Moab Khotsong mine purchase to boost cash flows

The $300 million deal, which incorporates the Great Noligwa underground mine and related infrastructure, is expected to boost Harmony's operational cash flow by 60%.

AngloGold gets going on $36 million expansion of Western Australia mine

Strategy adds 2.1 million ounces to Tropicana's business plan and extends the mine life by seven years to 2027.

Brazil mining code unchanged as Senate fails to vote on bill

Brazil’s lower house of Congress removed from the agenda the discussion of a transitory presidential decree, which modified the country’s current mining law.

Brazilian miners up in arms as lawmakers hike iron ore, gold royalties

They claim it won’t be possible to cut costs enough to offset the higher levies, and warn that some miners may need to pass on this new cost increase to the industrial production chain.

Sibanye-Stillwater reaches wage deal with unions at Kroondal mine

The three-year wage agreement was signed by all three unions, the company said.

AngloGold cash flow, output jump in third quarter

South African gold miner said it’s on track to meet 2017 guidance.

Sibanye-Stillwater shuts down Cooke gold mine, about 7,000 laid off

Company said it would keep its Beatrix West gold mine running for as long as it makes a profit, on average, over any continuous period of three months.

More than 2,000 miners sacked at Sibanye’s Cooke gold mine

Miners who received a termination letter will hold a mass meeting at the mine Wednesday morning.

Anglogold Ashanti to raise $307 million with South African mine sales

It will sell its newest mine to Harmony Gold for $300 million and another mine for 100 million rand ($7.4 million) to China's Heaven-Sent SA Sunshine Investment Company.

Sibanye scraps planned closure of loss-making South African mines

Precious metals miner said its platinum group metals (PGM) operations had delivered "solid operational results" in the first-half of 2017, prompting an upward revision to its 2017 production forecast and a downward revision to guided costs.

Sibanye-Stillwater Blitz project begins production ahead of schedule

Mine is expected to generate about 300,000 ounces annually by late 2021/early 2022, increasing total PGM production from Sibanye’s operations in the US by more than 50%.

South Africa’s mining industry fortunes improving, but challenges remain — PwC

A strong price recovery for the main commodities South Africa mines and exports has helped the country’s sector stage a turnaround in 2017, the first time in five years the industry is back in the black.

AngloGold a step closer to selling loss-making Kopanang mine in S. Africa

The decision to offload the asset is part of a restructuring process that includes laying off about 8,500 workers, roughly 30% of the company’s workforce.

South Africa's chamber of mines says sector "in crisis"

South Africa holds the world's biggest reserves of platinum, chrome and manganese, but investment in the sector has dropped in each of the past two years as a result of increasing legal uncertainty and labour disputes.

Sibanye halts divvy for first time as it swings to loss

The miner, South Africa’s largest gold producer, said that in the absence of a dividend, it’ll give investors two new shares for every 100 held.

Costs related to layoffs, lawsuit, take toll on AngloGold results

The miner, Africa's biggest gold producer, reported a loss of $176 million in the six months to June 30, compared to a profit of $52 million in the same period last year.

AngloGold Ashanti revives plans to spin off South Africa mines – Reuters

Should the spinoff happen, AngloGold would be the latest miner to reduce exposure to South Africa, where political instability, controversial new mining rules and a stronger rand have made it less attractive to operate.

South Africa halts new black ownership rules for mines

The suspension follows a pending a judgement in an urgent interdict application by the country's Chamber of Mines.