The turnaround in performance was mainly the product of increased output, reduced net debt and lower-than-expected restructuring costs.
Jobs Mining News
Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.
Dushnisky will join AngloGold in September, ending the search to replace Srinivasan Venkatakrishnan, who left the world’s third-biggest gold miner in April to run India’s Vedanta.
Additional cuts are to come across mines and towns in South Africa, once the world’s biggest producer of gold.
The company’s remaining South African assets are the Mponeng underground gold mine, and a surface operation.
Rio Tinto has called for less interference at its giant copper and gold mine in Mongolia, as it moves forward with an underground expansion.
Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.
The results of the latest MPi poll suggest mining employees send employers misleading signals about their expectations for pay.
Once the deal closes, Shell's only involvement in Canada's oil sands will be through its 10% stake in the Athabasca Oil Sands Project, majority owned by CNR and Chevron.
The parties said they believed an out-of-court settlement was far preferable for all concerned than an inevitably lengthy and expensive litigation process .
Most claimants are black miners from South Africa and neighbouring countries such as Lesotho, whom critics say were not provided with adequate protection during and even after the Apartheid ended in 1994.
The announcement is the last of a string of difficulties Anglo has faced with the iron ore mine, which was expected to produce 16 million tonnes this year, but that will now generate just 3 million tonnes.
A Mongolian former finance minister, Bayartsogt Sangajav, has been arrested as part of an investigation into suspected abuse of power during investment talks for the giant Oyu Tolgoi copper mine in 2009.
Request relates to an investigation about possible abuse of power by authorized officials during negotiation of the 2009 Oyu Tolgoi investment agreement.
Move would add further costs to an ongoing $5.3 billion underground expansion of the massive mine.
The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.
A funding proposal for a rail line that could carry its coal to the coast for export has been canned.
Namdeb, a 50/50 joint venture between the Namibian government and Anglo American’s diamond unit De Beers, has put its Elizabeth Bay Mine up for sale.
South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.
Mining giant posts 90% increase in profit amid what CEO Jean-Sébastien Jacques calls “resilient” commodity prices.
The National Union of Metalworkers of South Africa (Numsa) is demanding that Beatrix gold mine remains closed pending a probe and has asked the South African government to investigate why the operation apparently didn’t have a backup generator.
Originally there were more than 1,000 miners stuck underground, but sixty-four were rescued overnight.
Dutch non-profit organization claims Rio and its Canadian subsidiary Turquoise Hill used a complex network of tax haven subsidiaries and lending money to itself at high interest rates.
The new unit, under Mongolian leadership, will focus on exploration and local ties.
Blankenship kicked off his campaign Thursday night with a town hall meeting for voters in which he vowed to support President Donald Trump’s pro-coal stance with actions.