jueves, 7 de diciembre de 2017

De Beers puts South Africa’s Voorspoed mine up for sale

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Africa News Digest
Friday 8 December 2017
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Company says move paves the way for a lower-cost operator to take the diamond mine beyond 2020, when it is scheduled to close.

The $300 million deal, which incorporates the Great Noligwa underground mine and related infrastructure, is expected to boost Harmony's operational cash flow by 60%.

Strategy adds 2.1 million ounces to Tropicana's business plan and extends the mine life by seven years to 2027.

Chief executive Bruce Cleaver said the changes were necessary to sustain De Beers' success as a business.

The country's Ministry of Mines and Energy has renewed the Canadian miner's licence for ten years.

The egg-sized, 709-carat rough yellowish diamond was sold for $6.5 million to luxury jeweller Laurence Graff, chairman of Graff Diamonds.

Diamond giant is investing in an open platform that will allow tracing a rock throughout the entire value chain — from mine to buyer.

After a nine-month search, the miner has picked the current leader of the remuneration committee, Simon Thompson, to assume the post in March 2018.

Decision comes in the wake of a full-scale investor revolt led by the Investor Forum, a London-based body representing some of the world's biggest money managers.

Process could lead to a listing of the business on the Johannesburg stock exchange, it said.

The Minister of Mines said his decision will be in place until the border with Niger is physically demarcated. However, violence has increased in the area in past months.

It's a high quality 202-carat, D colour type IIa rock found at Letšeng mine, the world's highest dollar per carat kimberlite diamond operation.

Eritreans' case against Nevsun likely to proceed in Canada.

The LME has sent a directive to all suppliers asking them to detail how they guarantee "responsible sourcing" of the commodities they trade in the exchange.

The South African miner is exchanging a number of gold-processing assets and tailings storage facilities for a 38% stake in DRDGOLD.

Jewellery posts growth of 3%, the first in four years.

The company said if long-delayed permit for its massive iron ore mine is not issued next month as expected, it would have to shut it by Sep. 2018.

The pigments were likely obtained as a byproduct of sulfurous ore smelting.

It's the eighth diamond of over 100 carats recovered this year, and the seventh in just 2.5 years of commercial mining.

The mining veteran could face competition from internal candidates, including former head of UK gas company Centrica, Sam Laidlaw, who now sits on Rio's board.

Starting on Friday, workers did not go work in protest for the firing of six leaders of the Association of Mineworkers and Construction Union.

Another huge diamond has been released from the Earth's clutches following an astounding discovery in the West African country earlier this year.

The three-year wage agreement was signed by all three unions, the company said.

Glencore has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards.

As the world's largest auto market, China was responsible for about half of the sales as the crackdown on polluting industries has propelled renewable alternatives from power generation to consumer products.

Following sharp rise in copper prices this year, ZCCM Investments Holdings wants to increase its stakes Zambia's mines and expects higher dividend payments.

Despite possible breach of banking agreements, company execs believe finances will improve following lift of Tanzanian export ban.

Company currently working on recovering the body.

The line is an important route for copper exports from Zambia and the Democratic Republic of Congo, Africa's top copper producer.

Guinea has about a third of the world's bauxite reserves and expects to produce over 30 million tonnes in 2017. However, it has no facilities to transform those reserves into higher-grade alumina.

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