September 14, 2012

Ivory Coast plans windfall tax on gold miners’ profits

Ivory Coast plans a windfall tax of 19 per cent on gold mine profits to share in the benefits from soaring world prices for the metal.

September 14, 2012

Lonmin miners reject 20% wage increase offer

Striking miners at Lonmin's Marikana platinum mine rejected a 20% wage increase offer from the company. The offer increases the base pay of an entry level worker to around ZAR…

September 14, 2012

Finance minister: Zambia to set up $120 million copper transport line

Zambian Finance Minister Alexander Chikwanda told reporters today that the government will invest USD 120 million to rehabilitate a railroad line between the largest producer of copper in Africa and…

September 14, 2012

Rising tensions cause Aquarius Platinum and Xstrata to suspend Rustenburg mines

Due to unrest in Rustenburg, South Africa, Aquarius Platinum announced it has suspended operations at its Kroondal platinum mine until September 16.

September 14, 2012

Aquarius Platinum and Xstrata halt operations in S.Africa

Aquarium Platinum (LON,ASX, JSE:AQP) and Xstrata (LON: ) are the latest casualties of the ongoing labour unrest in South Africa. Both companies announced Friday they have suspended operations, as police…

September 14, 2012

Liberia tells the UN it lacks funds to fight blood diamonds

Liberia's questioned commitment to the diamond industry’s efforts to prevent blood gems trade has driven the US Agency for International Development (USAID) to threaten with cutting the program, but authorities…

September 14, 2012

Gold mining industry shooting itself in the foot

The gold mining industry has been digging its own grave by telling just half of the real cost story, Gold Fields (NYSE:GFI) CEO Nick Holland told the audience Thursday at…

September 13, 2012

China’s stockpile effort could stabilize rare earth metals prices: Brandon Tirpak

In the next few weeks, China's government will begin stockpiling roughly ¥6B worth of rare earth elements. Does this mean a price floor is imminent?

September 13, 2012

Strikers block access to Anglo platinum shafts; organizers may be linked to Lonmin, Impala strikes

Striking Anglo Platinum workers have blocked roads leading to shafts owned by the miner. Anglo Platinum is the largest platinum producer in the world.

September 13, 2012

Botswana diamonds: Additional diamonds discovered in Libongo, Cameroon

Botswana Diamonds said two additional diamonds have been recovered from the ongoing sampling program on the Libongo palaeoplacer project in Cameroon.