South Africa Mining News

South Africa's chamber of mines challenges new charter in court

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 could play a key role in world rare earth supplies

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

Revised South African charter poses threat to miners, says Moody's

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.

BHP Billiton announces new Chairman

The world’s largest mining company announced that Ken MacKenzie has been elected to succeed Jac Nasser

More than 1,500 workers fired at Sibanye’s Cooke mine over strike

Workers at the mine downed tools over a week ago, angered by the company’s actions to eradicate illegal miners from its operations.

South Africa just hiked black ownership rules, miners getting crushed

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.

Tanzania says Barrick to pay money owed by Acacia to Gov’t

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.

Tanzania accuses Acacia of illegal mining in fresh blow to Barrick’s subsidiary

Government accused the gold miner of operating illegally in the country and said it has been evading taxes.

Anglo American appoints takeovers expert as new chairman

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.

Miners frozen out as South Africa readies empowerment rules

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.

Diamcor just found this rare green diamond at S. Africa project

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.

World’s largest gold miner hit by Tanzania export ban

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.

Tanzania outs mining minister over alleged collusion with companies 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.

China’s Zijin pays off stake in Ivanhoe’s Congo copper project

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.

Canada’s Trevali picks up Glencore zinc mines in Africa

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.

Here’s why Colombia’s mining sector is losing its shine

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.

Lower gold price in rand hurts Sibanye Gold's Q1

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.

Mining no longer top sector attracting investors to Africa — report

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.

Anglo American to resume operations at El Soldado mine in Chile

The company had warned it would evaluate options for the mine, including walking away form it, if it didn’t receive the necessary permits.

Norilsk Nickel sues Botswana over thwarted mine stake deal

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.

Copper, lead, zinc prices to stay on the boil

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.

Sibanye Gold investors OK $2.2bn acquisition of Stillwater

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.

More iron ore comes to the market as Anglo’s output soars in Q1

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 acquires Tyre Corporation in South Africa

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.

Largest valve, instrumentation inventory in Africa

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