jueves, 5 de julio de 2018

Angola eases controls over diamond sector

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Africa News Digest
Friday 6 July 2018
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Country plans to double its diamond production to 14 million carats in the next four years.

Seaborne price for coal used in electricity generation scales $120 a tonne as South Africa diverts exports for domestic use and Asian demand spikes.

Production at Lucapa's 40%-owned Lulo project, in Angola, rose 20% during the June quarter.

London-based sales and marketing staff to relocate to Frankfurt beginning September.

The Kimberley Ekapa joint venture focuses on mining in the South African town of Kimberley.

Fresh setback for the company's Solwara 1 project, expected to be the world's first seabed gold, copper, silver mine.

Starting next year, it will demand firms that get at least 25% of their metal from small-scale mines in the DRC to be subject of a professional audit.

Shares fell as much as 13% after the miner and commodities trader was told by US Department of Justice to produce documents on Nigeria, Congo and Venezuela.

Australia's Lucapa Diamond (ASX:LOM) has found an 89-carat yellow diamond at its 70%-owned Mothae mine in Lesotho during the current bulk sampling program.

Sibanye Canada and Regulus' newly formed Argentinean subsidiary Aldebaran Resources will create a strategic partnership to unlock value at the copper-gold project, located in the San Juan province.

Company says that changes made to the crushing circuit will positively impact the plant's performance,

US law firm Bernstein Liebhard said the suit would deal with "misleading statements" made by the precious metals producer, which has had 21 fatalities on its operations so far in 2018.

First Quantum, which operates the Kansanshi and Kalumbila mines in the country, accounted for more than half of Zambia's copper production last year and is the biggest individual taxpayer.

Mineral Resources Minister Gwede Mantashe believes mines on care and maintenance are bad for the economy.

Nigeria will offer a 12.7 billion naira ($41.6 million) mining contract to eight companies in exploration and consultancy, its junior mining minister said on Wednesday.

Investigation is casting a wider net with the addition of Venezuela and Nigeria to its investigation, increasing the likelihood that Glencore's management will get bogged down in a lengthy legal process.

Women's cries just after 1 a.m. confirmed Barnabe Samuel Mussa's worst fears — an attack was underway.

Sections of Sibanye's Masakhane mine, where an earth tremor resulted in the death of seven workers, have been shut for rehabilitation until February.

Until last month, Glencore was fighting three lawsuits in Congo that called into question its control of its prized copper and cobalt mines.

Members of a local community near our Siguiri mine have been protesting the temporary rationing of power, which is an unfortunate necessity.

Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that's disturbing some investors.

Exxaro Resources Ltd expects coal production for the half year to June 30 to increase by 1.7 percent to 23.52 million tonnes.

The country's environmental protection agency has issued permits for AngloGold's Obuasi mine, paving the way for its redevelopment.

As the company's former business partner and new President Cyril Ramaphosa promises an economic recovery, Glencore is reaping profits.

The $575-million figure represents a 6% increase from the $541m obtained in the same period last year and 3.7% higher than the $554m it sold last month.

South African units of Jindal Steel & Power Ltd. filed for a local form of bankruptcy protection known as business rescue this month.

Part of the Indian Ocean island nation's plan to become a financial gateway to Africa.

Barrick, which has been negotiating on Acacia's behalf for over a year, had said it would deliver a deal for Acacia's board to vote on by the end of June, but now says talks are ongoing and it has backed away from setting a new deadline.

The US-based miner, however, cannot directly negotiate wages and other benefits with its subcontractor's employees.

The Minerals Council "will make a comprehensive submission" to the Department of Mineral Resources and participate fully in a summit planned for July.

Miners area are teaming up to develop one of Ghana's newest gold mine, the Asanko Gold Mine (AGM), located in the Ashanti Region.

South Africa's Richards Bay Coal Terminal has boosted productivity after a 1.34 billion rand ($98 million) machinery upgrade, the firm said on Thursday.

SEMAFO Inc is pleased to report that it has completed its first gold pour at the Boungou Mine in Burkina Faso, slightly ahead of the original schedule. The first pour yielded approximately 325 ounces of gold.

Johannesburg, 26 June 2018: Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) regrets to report that a colleague has tragically passed away at our Khomanani mine at the Driefontein operation. For reasons still to be determined, […]

The new measure will affect global mining firms including First Quantum Minerals, Glencore, Barrick Gold Corp and Vedanta Resources which currently pay a flat rate of 9.30 cents/kWh.

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