The miner continues to look for new assets, including Anglo American’s 40% stake in their manganese joint venture — Samancor.
South Africa Mining News
The miner said it was is currently assessing the operational and financial situation of its platinum division, which may require "remedial action".
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Design of chutes, which are a vital link in any conveyor system, are often an afterthought when designing the main conveyor system.
The potential acquisition fits in the South African gold producer’s plans to expand operations across Africa.
South Africa's state pension fund is pushing Anglo to spin off all its assets in the country, including the miner's coveted platinum mines.
PGM prices plunge after data show country's mines responsible for 70% of global production are humming and local currency revenues are hitting records.
Shares in the Canadian company were up more than 3.6% Thursday morning on the news.
The diamond will be offered for sale in Johannesburg later this month.
Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.
The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.
The potential sale of its its 64% interest in Acacia would be part of Barrick's broader strategy of selling non-core assets to reduce debt.
The company however is still debating whether to sell or spin off its majority stake in Kumba Iron Ore Ltd, Africa's top producer of the commodity.
Output rose 16% to 3.7 million carats, which puts Petra on track to hit its long term annual target of 5 million carats in 2018, a year earlier than planned.
The six mining companies which form the Occupational Lung Disease Working Group said they support the work being done by the national departments of Mineral Resources and Health to ensure that former mineworkers are able to claim all the benefits they are entitled to.
The world’s third-biggest gold miner said its net earnings will also benefit from weaker operating currencies in South Africa, Brazil, Australia and Argentina.
Shares plunged after miner revealed that output fell almost across the board in the April – June period.
According to a UN report, since 2000 two-thirds of South Africa's gold exports – mostly to India – did not appear on its trade partners' books.
The class action the firms want to appeal paves the way for thousands of current and former miners suffering from silicosis and tuberculosis to seek damage compensation from the companies.
South Africa's mining sector is facing the most serious challenge for many years demonstrated by mounting job losses.
The company said financial losses at the mine threaten the viability of the rest of the Cooke operations, which include four mines and three processing plants.
In what seems like an annual event, platinum companies in South Africa are bracing for what could be another year of labour unrest.
It was found at Petra's Cullinan mine in South Africa, which has yielded several massive gems, including the largest rough gem diamond ever discovered.
Australia has about 40% of the world's uranium reserves and exports nearly 7,000 tonnes of yellow cake annually.
Part of his continuing Africa Initiative.