Sibanye-Stillwater currently employs over 32,000 people at its South Africa gold operations.
South Africa Mining News
If approved, merger would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.
South Deep has faced numerous operational obstacles below the surface and is undergoing restructuring that would cut around about 1,100 jobs.
The storied miner is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.
Deal will allow the company to self-fund the Thorny River project from bulk sampling through to mine development.
Harmony Gold reported a 30-percent jump in quarterly total production boosted by its Hidden Valley and Moab Khotsong mines.
Diamcor Mining announced that following its previous release on the initial tender of 2,606.50 carats of rough diamonds, it delivered an additional 5,335.83 carats before the end of October.
Gold Fields insists that it will not back down from its decision to reduce the workforce and says the strike may only cause more job losses.
The strike, involving more than 3,000 workers, started Friday afternoon to protest the gold miner’s plan to cut jobs.
The National Union of Mineworkers (NUM), which represents around 80 percent of the employees at the mine, will down tools on Friday.
Implats plans to trim staff by about a third -- more than 13,000 jobs -- over two years at its Rustenburg platinum belt.
Epiroc and Kimberley Ekapa Mining are working together to digitize the latter’s diamond operations.
Investment in South Africa on the rise
The project, located in the San Juan province, is about 10km from the border with Chile, the world’s No. 1 copper producer.
First commercial diamonds from the company's 70%-owned Mothae mine expected in early November.
Revenue rose 22 percent in the quarter to $80.2 million from $65.8 million a year prior, despite diamond prices being 5 percent lower when compared to the same period of 2017.
Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.
The company is also seeking direct talks with the country's government, as it's been excluded so far from negotiations between controlling shareholder, Barrick Gold, and President John Magufuli.
The news comes barely a week after the company said another worker had been released on bail after being charged with corruption.
Shareholders getting impatient over the Gold Fields failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope.
The Daily Mail published controversial images of Bristow posing next to dead elephants.
Bids for Optimum are expected to be finalized by the end of November, with due diligence starting on Monday.
President Ramaphosa announced a wide-ranging set of deals between government, big business and labour that he said would create 275,000 more jobs a year.
South African miner Exxaro is eyeing South32's local coal assets, which include an export quota, as it looks to increase its exports.
South African government is considering a sovereign wealth fund but is looking for a way to fund it without harming the mining industry.