A steady diamond demand in Europe, paired with an ever growing appetite for these precious stones in China and India, are to blame, says Alrosa.
"Hopefully" to materialize over the next 12 to 18 months.
Only three weeks after the miner announced it was replacing its CEO Greg Hawkins.
Steady diamond demand in the United States, paired with an ever growing appetite from China and India set to cause a major gap in global supply and demand, says report.
Produces third high purity rare earth compound.
Children as young as eight are mining in grim conditions in Africa's fourth largest gold producing country.
Industry veteran Brad Gordon, replaces Greg Hawkins effective immediately.
The mid-cap gold miner's impairment followed an operating review that also drove the company to announce $95 million of operating cost cuts.
Claimants allege African Barrick failed to curb the use of excessive force at its North Mara mine on a regular basis over the last three years.
The Southern African country ticks all the boxes.
Officials claim the start of the project is not clear.
Company said it would wait until summer to begin.
Tanzania’s main diamond mine, Williamson, has a potential mine life of over 50 years, although the current mine plan only accounts for 18 years.
Unregulated miners in Tanzania are hurting operations and the extraction of high quality tanzanite gems.
The measured and indicated resources of Mkuju River Project amounted to 35,888 tonnes of uranium.
Local villagers allegedly invaded the site to steal gold sand.
Tanzania's largest gold miner posted a fourth quarter loss driven by heavy write-downs and a warning of a further fall in output.
The Tanzania-focused gold minhas suffered from three consecutive years of declining gold production
Stock loses a fifth of its value on Tuesday.
Uranium One Inc. subsidiary Mantra Tanzania said today that it aims to start construction work on its Mkuju River uranium mine in southern Tanzania in 2013. The company hopes to become one of the top ten uranium producers worldwide.
Shares in London-listed African Barrick Gold (LON:ABG) were falling by over 4% on Friday after rising costs and dipping production impacted the miner’s Q3 profit.
London-listed Petra Diamonds shares were on the rise again Monday after the company revealed Friday it had started selling three of its non-core mines.
London-listed Petra Diamonds has reduced its production targets at its mines in Africa for this fiscal year by 0.25 million carats to 2.85 million carats.
Barrick Gold was trading up 3.8% in heavy volumes in Toronto and African Barrick Gold shot up 8% after Barrick confirmed that it is in early talks with China National Gold Group regarding its 74% holding in ABG.
Joseph E. Stiglitz, Nobel laureate in economics and professor at Columbia University, has some sobering thoughts for Ghana, Uganda, Tanzania, and Mozambique.
The gold-rich African nation of Tanzania has introduced a 30% corporate tax for mining companies in operation for more than five years, stating that the move is justified by rising precious metal prices on the international market.
Get Mining News and Alerts
sent to your inbox daily