May 22, 2019

To borrow $500m, Zimbabwe pledges mine that doesn’t exist

The collateral for African Export-Import Bank’s $500 million loan to Zimbabwe is a mine that Great Dyke Investments, a venture between Russian investors and the Zimbabwean military, plans to build…

May 22, 2019

Acacia blames Barrick for barring it from Tanzania talks, mulls takeover bid

Comments come after parent company Barrick Gold proposed to acquire all of the shares it does not already own in the Tanzanian miner.

May 21, 2019

Tanzania to start cancelling inactive mining licences

Tanzania will start cancelling inactive mining exploration licences and distribute the acreage to artisanal miners who are able to immediately commence activity in the area.

May 21, 2019

Vedanta, KCM seek urgent Zambia talks, court appoints liquidator

The news has rattled foreign investors already nervous governments in central African countries are seeking a much bigger share of resource revenues.

May 21, 2019

Zambia’s plan to seize copper mines stuns investors

Zambia’s Eurobond yields rose to record highs after the government of the cash-strapped copper producer said it’s planning to seize Vedanta’s mining assets.

May 20, 2019

S.Africa’s Amplats fires over 600 underground workers at its Mototolo mine

The company fired about half of the underground workers at its Mototolo mine following an illegal strike.

May 20, 2019

Zambia’s Lungu seeks new investor in Vedanta-controlled copper miner

London-listed Vedanta said in a statement that it was seeking an urgent meeting with Lungu over the future of KCM.

May 20, 2019

Lonmin plans to cut 4,100 workers as it closes platinum mines

The platinum producer has started a process that’s required under South African labor law to carry out the workforce reductions.

May 20, 2019

Tanzania fines Acacia Mining $2.4m over alleged pollution

Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.

May 20, 2019

Sibanye keeps option to increase Lonmin offer against rival bid

Sibanye Gold reiterated that its increased offer for Lonmin is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge.