jueves, 5 de octubre de 2017

South Africa’s mining industry fortunes improving

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Africa News Digest
Friday 6 October 2017
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A strong price recovery for the main commodities South Africa mines and exports has helped the country's sector stage a turnaround in 2017, the first time in five years the industry is back in the black.

The 709-carat rock is the second-largest ever found in the West African nation.

The Gakara mine holds some high-grade rare earth elements, some of which are expected to become essential for the manufacturing of batteries, magnets and electric vehicles.

It's a 134 carat gem-quality light yellow diamond recovered at the company's its Liqhobong mine.

Mine is expected to generate about 300,000 ounces annually by late 2021/early 2022, increasing total PGM production from Sibanye's operations in the US by more than 50%.

As the world's premier precious metals equity event, the Gold Forum attracted 1,000 attendees who conducted a record 3,900 meetings.

Sampling work at Ontevreden, part of the Vutomi joint venture, seems to prove the presence of high-grade kimberlite pipes.

Company reached wage agreement with the main union at two of its mines in South Africa. Workers will return to work on Friday.

Discovered in February last year in eastern Angola, the 404.20-carat rough diamond was also the largest found so far in the southern African country.

Scientists say that under the peculiar conditions present deep in the Earth's mantle, iron carbonates can play a role in forming diamonds.

Stock closed 12.2% higher at 64.80p, after it had fallen on Tuesday to its lowest since late 2015.

Vehicles were carrying fuel to the company's Inata gold mine.

London-based Graff Diamonds paid nearly $47,777 per carat

The Canadian miner said measure was taken after violent groups blocked main road to the mine, which has prevented essentials from reaching the operation.

Public prosecutor for the state of Minas Gerais, where the iron ore mine is located, ordered the company to reschedule two public meetings as it had failed to inform of it to all communities potentially affected by the planned expansion.

Gold bars are not impacted by the export ban on gold and copper concentrate imposed by the Tanzanian government in March.

The Ity mine, in Côte d'Ivoire, has produced more than 1.2 million ounces of gold in its over 20 years of operations.

He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.

Zama zamas earn a pittance for work that puts their lives at risk on a daily basis

Shares in the diamond miner fell for a second consecutive day after it warned that two of its South african mines had been affected by strikes.

Finding follows the recovery of five other diamonds of over 100 carats so far this year at the company's flagship Letšeng mine, in Lesotho.

The miner warned further reductions could be in store at those operations, which employ 31,000 people.

The Africa-focused diamond miner said that would likely happen unless it solves its issues with the government of Tanzania.

Projects aim at boosting output and lowering costs.

The decision to offload the asset is part of a restructuring process that includes laying off about 8,500 workers, roughly 30% of the company's workforce.

Ivanhoe boss transforms what could have been a set of exciting drill results into 43 holes of "global significance in the copper world".

International watchdog group Global Witness says political elites and security forces have controlled and secretly exploited Zimbabwe's diamond sector for over a decade.

The diamond miner also had to halt operations at its Williamson mine as several key employees are being questioned by local authorities.

South Africa holds the world's biggest reserves of platinum, chrome and manganese, but investment in the sector has dropped in each of the past two years as a result of increasing legal uncertainty and labour disputes.

The country's chamber of mines and the ministry are locked in a number of legal disputes over the mining charter, which aims to increase black ownership and participation in the industry as part of a government drive to overcome apartheid's legacies.

Total gold sold halved to 21,377 ounces in the six months ended June 30 from a year earlier, with an average price of $1,235 an ounce.

The Sierra Leone-focused miner has found gold of almost "bonanza grade" at the Ferensola gold project in the Sula Mountains of Sierra Leone.

New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects

Stellar Diamonds plc, the London listed diamond development company focused on West Africa, announces that it has paid US$150,240 to the Sierra Leone Environmental Agency for the Tongo Environmental Licence.

Over the last nine years 66 record-breaking and other noteworthy diamonds were recovered, and 61 of those have been found within the last five years.

KPMG cleared out its South African leadership last Friday after it found that work it did for firms owned by the Gupta family, businessmen friends of President Jacob Zuma, "fell considerably short" of its standards.

The National Union of Mineworkers said on Thursday its members would go on an indefinite strike at the mine over wages, benefits.

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