The company had warned it planned to restructure several of its mines, producing almost 25% of its gold, when it posted a third consecutive quarterly loss early May.
Main power utility, Eskom, is struggling to meet demand in a country that depends on coal to generate 85% of its electricity.
Perhaps the most important aspect of today’s agreements is the fact that both aim to form long-term strategic partnerships to collaborate on further ventures, opening new markets for all the firms involved.
Analysts believe Cowal mine may be worth at least $400 million, and that Barrick would likely get as much as $1.1 billion from the sale of both, the New South Wales' mine and Papua New Guinea’s Porgera.
The miner was granted a New Order Mining Right (“NOMR”) for its flagship Makhado hard coking and thermal coal project in South Africa's Limpopo Province.
Market valuation at lower end of expectations on worries over dearth of reserves. BHP stock falls 6%.
New report highlights falling mine supply outside of Southern Africa and increased jewelry demand from China.
Saying that just over 20% of miners had met the black economic empowerment criteria is to tun a blind eye to the progress members have made so far, claims the ming group.
The union that led 2014's bitter five-month strike in South Africa's platinum belt has brought the same demands – doubling of wages – to the gold sector.
The bank says Anglo could use the funds it gets for dividends and to invest in its much stronger sectors, copper and diamonds.
The incident happened when South African police allegedly clashed with protesters near Atlatsa Resources’s Bokoni platinum mine.
Ivan Glasenberg has once again slammed his competitors, who he accuses of damaging the credibility of the mining industry.
CEO Andrew Mackenzie announced the firm would cut capital and exploration expenditure to $9 billion in the 2016 financial year from $12.6 billion in 2015.
The miner, which is the world’s No.4 bullion producer, said unreasonable wage demands and escalating power costs in South Africa will likely push the country’s industry down the slippery slope.
The company's shares have lost over 40% of their value since it first listed in 2011 on the London Stock Exchange.
Prices of commodities are expected to remain high and to be a key driver of African growth over the next few years
The mines ministry has missed an April deadline to ask courts solve the issue of whether companies may claim they meet black-ownership quotas if shareholders have sold their stakes.
American geophysicist and Fulbright scholar, Stephen Haggerty, has found a new prickly, palm-like plant that seems to grow only on top of kimberlite pipes.
RioZim Ltd., which mines gold, diamonds and coal in Zimbabwe, wants to work with state-owned power utilities in South Africa and Namibia to build a 1,400-megawatt electricity plant near its Sengwa coal fields.
The global miner trimmed its forecast from 32m-34m carats to 30m-32m because of “current trading conditions”.
A team of Australian scientists have, for the first time, identified the exact source of diamond-bearing rocks known as orangeites.
The flawless, 100-carat diamond could fetch up to $25 million when it goes under Sotheby's hammer in New York on Tuesday
The decision follows a similar move by Sasol, which repatriated Friday 340 of its employees working on projects in the Southeast Africa nation for their own safety.
Newmont, Kinross, Goldcorp and Iamgold among the companies said to be interested in all of part of Cripple Creek & Victor mine.
More than 400 members of the National Union of Mineworkers (NUM) downed tools Wednesday, demanding the removal of the mine's general manager.
The employee was fatally injured in an accident while performing maintenance work on Saturday.
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