Sherritt International Corp., whose executives were once known as Fidel Castro’s favorite capitalists, is paying the price for its close ties to the struggling Caribbean nation.
The race to mine Guinea's iron ore has started although the focus is not on its giant Simandou deposits but on smaller finds whose output could be transported via Liberia if ArcelorMittal shares its railway.
Prime Minister James Marape doubled down on his plans to earn more taxes from the gas-and-gold-rich country's natural resources sector on Wednesday, but said major reform would not take effect for years.
Sibanye-Stillwater said on Wednesday about 3,450 jobs would be lost in the proposed restructuring of the South African company's gold mining operations, following financial losses at some of its mines since 2017.