jueves, 1 de marzo de 2018

Anglo American concludes sale of three coal mines in South Africa

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Africa News Digest
Friday 2 March 2018
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The deal includes the New Vaal, New Denmark and Kriel mines, as well as various mine life extension projects.

"Our optimistic outlook for the rand will shift our existing positive view on South African gold miners over the coming years," says the market research firm.

Funding for the project has not been secure yet, though the miner is in talks with Newfield Resources over a possible offer.

Country's Chamber of Mines says rail system is not ready to handle that amount of cargo, adding that the potential impact on the mining industry has not been properly considered.

An accident took place in the Blanket Quartz Reef area of the mine.

New study uses the conditions inside of the mine to better understand how life might survive on Jupiter's moon Europa, which is considered a prime candidate for the search of extraterrestrial activity.

Together with naming new top execs. the Canadian miner is acquiring Clara Diamond Solutions, which uses blockchain technology to trace diamonds as they move through the supply chain.

CHART: Baltic Dry Index has plummeted 32% since December, opening up huge gap to closely correlated industrial metal prices.

The global economy is booming and demand for precious jewels, particularly colored gemstones, has never been higher.

Firm said the $412-million construction project to upgrade the Ivory Coast-based gold mine remained on-time and on-budget.

A test sale was conducted and, according to the Minister of Mines, it was a total success.

Miner is advancing a pipeline of projects expected to contribute more than 1 million ounces of annual production starting in 2021.

The unit of Anglo American intends to mine as much as 36 million carats this year, up from 33.5 million in 2017.

Company became the latest top miner to report soaring profits, hefty dividends and lighter debt burden.

That's considering the combined rankings of all its provinces and territories, but Finland is the most attractive jurisdiction this year.

Electronics and car makers are racing to lock in supply agreements for cobalt amid fears of shortage.

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

New report says "deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry."

8,126 grams per meter!

Tanzania's top gold producer said in conversations with potential investors over a stake in some or all of its operations in the East African nation.

Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.

Artisanal and Small-Scale Mining (ASM) has become a major of revenue for millions of people in about 80 countries worldwide, with more than 100 million people currently depending on the activity for their livelihoods. But at what costs?

New gemstones mining and marketing company is stepping up efforts to kick off operations at some of its key assets and help organize what it calls "a highly disorganized and fragmented industry."

Proceeds from the placing will fund ongoing diamond exploration in South Africa and Botswana, and will also provide the company with additional working capital, the company said.

As part of Gemfields' philosophy of "total transparency", the company revealed is facing claims of human rights abuses in Mozambique, where it mines rubies.

A worker died on Monday night while clearing a blocked ore pass at the company's Driefontein gold operation in South Africa.

The miner has also scrapped its 2017 dividend after full-year core earnings fell by more than a third because of a ban on unprocessed mineral exports in Tanzania.

Zimbabwe is keen to attract investment after Mugabe era and is already Africa's top lithium producer.

Uncertainty around the charter has deterred investment into a sector that accounts for 8% of gross domestic product in the world's top platinum producer

Freeport is looking at other options for the asset, including possibly a joint venture to develop the large cobalt project.

Deteriorating and inadequate infrastructure at the mine, high operating costs, such as rising electricity, labour costs, and a low gold price.

Burkina Faso is looking for a new partner to mine the world's largest manganese deposit after rights disputes thwarted two earlier attempts.

Ghana, Africa's second largest gold miner after South Africa, earned $5.78 billion from exports of the metal last year, up 17.6 percent on 2016.

A 20-year friendship that helped turn Dan Gertler into a billionaire has left the Israeli businessman with a lot fewer places to go.

This year's Corruption Perceptions Index highlights that the majority of countries are making little or no progress in ending corruption.

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