With an expected cost of $343 million, the Madaouela project was poised for development and had started to advance despite the political changes.

Investors are moving into gold equities from bullion, and the gold price may increase while central banks increase purchases as the US election approaches, BMO analysts said.

The miner had said a valve ruptured on June 23, releasing 3,000 liters of mud containing cyanide into a canal within the perimeter of its Ity mine.

This is the eighth stone over 100 carats found at the Letšeng mine in 2024.

International Resources Holding had wanted a majority stake in Konkola Copper Mines to consolidate its position in Zambia after buying a 51% stake in Mopani.

The company has reached an agreement to settle a dispute over the Nabeba iron ore project.

Gecamines is offering copper from CMOC’s giant Tenke Fungurume mine, in which it holds a 20% interest, Bloomberg sources said.

Impala has said it could cut 3,900 jobs as it restructures its South African operations.