Tanzania Mining News

Harmony Gold swings back to profit, will consider Barrick's Acacia stake

The potential acquisition fits in the South African gold producer’s plans to expand operations across Africa.

Petra Diamonds finds massive 138-carat white rock at its Cullinan mine

The diamond will be offered for sale in Johannesburg later this month.

Barrick in talks with South African miners to sell stake in Acacia — report

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.

Petra sells 121.2- carat diamond for $6 million

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.

Petra finds another massive diamond at its Cullinan mine

The 121.26-carat white rock is a Type II diamond "of exceptional colour and clarity," according to Petra.

Petra Diamonds just sold this ‘exceptional pink’ gem for $15m

The 32.33-carats diamond was recovered in November from the firm’s Williamson mine in Tanzania.

Five miners rescued in Tanzania after 41 days trapped underground

They survived by eating roots, cockroaches and frogs, and drinking drips of muddy groundwater.

Imminent verdict in case that blames Acacia of partner’s mine permit loss

An arbitration tribunal is set to decide in October whether Acacia Mining has to pay a $115 million compensation claim to a former partner in Tanzania.

Tanzania puts former mining minister behind bars over gold deal

He was found guilty of issuing illegal tax exemptions to a gold audit firm, which cost the government millions of dollars in lost revenues.

Over 12,000 children rescued from illegal gold mines in Tanzania

The country bans child labour in mines, but critics say the government has not done enough to stop illegal operations from exploiting minors.

Gold mining still most significant source of income in Africa, Asia — WGC

Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.

World Bank grants Tanzania $45 million to improve mining sector

Africa's No.4 gold producer is also rich in coal, uranium, diamonds, emeralds, rubies and sapphires.

At least 19 dead after illegal mine collapses in Tanzania

The accident occurred on Thursday night at Kahama district, Shinyanga region, near Acacia Mining's licensed Bulyanhulu gold mine.

Tanzania's mining sector changes economic growth

Mining is one of the leading sectors in Tanzania, with the value of mineral exports increasing each year.

African Barrick is history, changes name to Acacia Mining

The miner plans underground operations at North Mara and inked a deal that could see it acquire up to 70%of a project in Burkina Faso.

Lawyers seek Barrick’s support in case against African subsidiary

African Barrick’s North Mara mine, Tanzania’s largest gold producer, has been a flashpoint of clashes between locals and security forces for many years.

African Barrick cuts costs, to acquire more gold assets in 2015

Tanzania's largest gold miner reported a 17% jump in third-quarter core profit, and said it anticipates full-year costs at the lower end of it target range of $1,100-$1,175 per ounce sold.

Business leaders call for greater global support against Ebola outbreak

A group of 11 chief executives of firms operating in West Africa have called for more international support to combat the deadly virus.

Botswana blocks at least 100 copper trucks from Congo over Ebola fear

The vehicles, en route to South Africa, have been stranded in neighbouring Zambia since Monday.

This $2 million red diamond is the hero in Rio’s annual tender

In the 30 years Rio Tinto's Argyle Pink Diamonds have been tendering the rare gems, only 13 red diamonds have been brought in.

De Beers changing its diamond sales model

The world's largest diamond miner by market value said it will adopt a more flexible sales approach.

Diamond industry recovers place in miners’ hearts on climbing demand, prices

Sector now delivering some of the healthiest returns for many of the world’s biggest miners, including Rio Tinto and Anglo American.

Diamonds may be forever, but current prices are not— experts

Despite billions spent on exploration, only around 30 significant diamond mines are currently in production.

African Barrick seeks new name after partially splitting from Canadian parent

Last week Barrick Gold sold 41 million African Barrick shares to institutional investors.

African Barrick reports $781 million annual loss, despite output increase

It also slashed its gold reserves by almost a quarter.