South Africa's Chamber of Mines has applied to a high court for an interdict to prevent the implementation of a new charter that increases the minimum threshold for black ownership of mining companies
South Africa Mining News
Manufacturers of products ranging from batteries to electronic devices, and wind turbines to hybrid cars, are scouring the world to secure critical supplies of rare earths
Ratings agency Moody's warned on Wednesday that new regulations seeking to accelerate black ownership in South Africa's mining industry would deter investment, raise costs and diminish cashflow generation.
The world’s largest mining company announced that Ken MacKenzie has been elected to succeed Jac Nasser
Workers at the mine downed tools over a week ago, angered by the company’s actions to eradicate illegal miners from its operations.
The country will require local miners to be 30% black-owned and has set a 12-month deadline for them to comply with the new rules.
Barrick confirmed chairman John Thornton met President John Magufuli for talks Wednesday, but didn't mention the details of what, if anything, had been agreed.
Government accused the gold miner of operating illegally in the country and said it has been evading taxes.
Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.
Mining companies in South Africa have been frozen out of consultation over regulatory changes that could dilute shareholders, raise costs and impose new levies to fund community development.
The rock, a 5.36-carat green gem quality octahedron rough diamond, was unearthed at the company's Krone-Endora project, located next to the world’s third largest diamond mine.
Barrick's comments come on the heels of a report published this week, which claims its Tanzanian subsidiary has been under-reporting the amount of metal in its shipments to evade taxes.
Shares in gold producer Acacia Mining, one of the firms accused of eluding taxes, fell by more than 18% to 18% to 355.70 pence on the news.
Ivanhoe Mines and Zijin each hold now an indirect 39.6% interest in the Kamoa-Kakula project, thought to be Africa's most significant deposit of the red metal ever found.
The deal, worth about $400 million, will make Trevali the first pure zinc producer with operations in North and South America as well as Africa.
Companies are pressing the government to better regulate public consultations and votes on mining projects, as they see legal uncertainty as the industry's main current challenge.
A higher South African rand versus the U.S. dollar was to blame for lowering Sibanye Gold's (NYSE:SBGL) net operating profit in the first quarter.
Industrial and precious metals, coal, oil, as well as natural gas, collectively accounted for just 6.2% of foreign direct investment into the continent last year.
The company had warned it would evaluate options for the mine, including walking away form it, if it didn’t receive the necessary permits.
The Russian miner wants to recover $271 million it lost when a state-backed company failed to complete the acquisition of a 50% stake in its Nkomati mine in South Africa.
New World Bank outlook for commodities predict 32% price jump for zinc and 18% for copper and lead, but outlook for nickel price in 2017 is murky.
Shareholders voted overwhelmingly in favour of the cash takeover, which will make the South African firm the world's No.3 palladium producer and No.4 platinum group metals miner.
Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.
Kal Tire’s Mining Tire Group, a world leader in mining tire services and a global independent tire dealer, expands its presence in South Africa through the acquisition of the South Africa operations of Tyre Corporation.
AR Controls, a leading importer and manufacturer of a comprehensive range of internationally-recognised valves and instrumentation, has the largest product inventory of any similar company in Africa