Glencore’s cobalt output up by almost a third thanks to Congo mines

Having trouble viewing this email?  View online Africa News Digest Friday 3 August 2018 Home     Gold     Silver     Africa     Asia     Australia     China     Europe     Latin America Glencore's cobalt output up by almost a third thanks to Congo mines Glencore is the world's No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles. read » Half of the Asanko gold mine in Ghana now belongs to Gold Fields The mine is one of Ghana's newest gold operations and it is located in the country's Ashanti Region. read » Killed Russian journalists said to have been working on story involving mining in CAR They were said to be investigating a private Russian security company operating in CAR as well as Russia's interests in the local diamond, gold and uranium sectors. read » Rio Tinto down despite $7.2bn cash return to investors Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts. read » De Beers ready to begin South Africa's Voorspoed mine closure The failed plan was to find an operator with a lower cost structure or a different mining approach that would be able to take over and extend Voorspoed's life. read » Randgold to revise full-year forecast as readies Tongon mine for restart As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year. read » South African diamond fetches half a million dollars The gem was sold on tender for $11,267 per carat. read » Wheaton closes streaming deal with gold miner Sibanye The Canadian streaming firm has bought all of Stillwater's gold production for the life of the mine and, initially, also 4.5% of its total palladium output. read » Kibali gold mine aims at record output after underground ramp-up DRC's Kibali is moving from underground mining by contractors to owner-mining, as has already happened at the company's Loulo mines in Mali. read » Barrick's Dushnisky quits, becomes AngloGold new CEO Dushnisky will join AngloGold in September, ending the search to replace Srinivasan Venkatakrishnan, who left the world's third-biggest gold miner in April to run India's Vedanta. read » Miners wrote off almost one-third of investments over last decade From the $939bn invested in major projects between 2008 and 2017, the world's top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay. read » Fura Gems grabs more ruby assets in Mozambique Gemstone producer us is expanding its footprint in Mozambique by acquiring nine ruby assets from ASX-listed Mustang Resources and Regius Resources Group. read » Randgold's Tongon mine in Ivory Coast hit by strike Labour action has brought gold production to a halt. read » Wheaton buys all gold, some palladium from Sibanye US mines Streaming deal involves production from Sibanye's Stillwater and East Boulder mines, located in Montana. read » Glencore shareholders mull suing firm over corruption, bribery probes They claim mounting investigations into the firm's dealings in the DRC, where it's heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it. read » Experts come up with plan for protecting deep-sea life from mining An international group of researches have recommended 18 quantitative metrics that regulators can use to assess seabed mining projects. read » Huge diamonds keep coming out of Lucapa's Lulo mine in Angola This time is a 114-carat white stone. read » South African gold producers make new wage offer to unions South African gold producers say they have offered annual wage increases of up to 7.2 percent to underground employees and up to 4.5 percent for miners and artisans, after unions rejected a previous offer last week. read » Gold miner Centamin's core earnings beat expectations, shares rise Gold miner Centamin Plc's quarterly core earnings topped market expectations as lower-than-estimated mine site costs and inventory-driven sales volumes offset a drop in production. read » South African platinum miner Implats says to slash 13,000 jobs 13,000 jobs to be slashed as the local platinum industry grapples with rising costs and weak prices for the precious metal. read » Canada's Kinross Gold puts Mauritania mine expansion on hold Kinross Gold Corp said on Wednesday it was "pausing" expansion work at its Tasiast gold mine in Mauritania after a government request for talks to improve the country's economic benefits from the miner's activities. read » Replenishing economic diamond resources, a daunting task for miners Given that most of the high-economic diamond deposits in the world have already been put into production, diluted via expansion, or depleted, going forward the economics of diamond mines will inevitably gravitate towards higher-cost, lower-value operations. read » Randgold Resources' Mali mine granted four-year, 50% tax concession Mali's government has granted Randgold Resources a 50% corporate tax reduction for the next 4 years at its Gounkoto mine. read » Lucapa's mine in Lesotho continues to yield special diamonds The 11.88-carat diamond was recovered from the North zone of the Mothae diamond mine. read » Fate of South African gold rests on giant, loss-making mine The South Deep mine was built to target the world's second-biggest known body of gold-bearing ore, a deposit that could produce for the next 70 years. read » Indian billionaire Anil Agarwal's moves on Anglo Billionaire Anil Agarwal in July said he planned to offer around $1 billion to take London-listed Vedanta Resources Plc private, a move that has rekindled speculation his ultimate aim is a deal with miner Anglo-American. read » South African gold producers urge unions to narrow demands as third set of wage talks fail Four companies are negotiating – Sibanye-Stillwater , Harmony Gold, AngloGold Ashanti and a smaller producer, Village Main Reef- under the auspices of the Minerals Council South Africa industry group. read » Kumba brings in targeted dividend policy, flags SA rail issues The iron-ore mining company is introducing a targeted dividend ratio policy of 50 to 75% of headline earnings. read » AngloGold says there's no escaping demise of South African gold Output will continue to shrink as miners chase ever-deeper ore bodies while struggling to keep costs down. read » South Africa's Harmony says FY output exceeds guidance South Africa's Harmony Gold said on Monday annual bullion production for 2018 has exceeded its guidance, boosted by its Moab Khotsong operation. read » Petra shares drop after it cuts 2019 diamond production forecast The miner said it expects to produce 4.6 million to 4.8 million carats in 2019, well below the 5.0-5.3 million carats it forecast in July last year. read » Acacia boss is getting frustrated waiting for Barrick Solution It's been a year since Acacia Mining Plc's majority shareholder started talks on its behalf to end a standoff with the Tanzanian government. read » AngloGold Chairman warns South Africa on 'reckless' mining rules The latest Mining Charter doesn't provide solutions to the industry's challenges and will make it difficult for companies to buy and sell assets. read » South Africa gold producers offer single-digit hikes — document Producers have been giving above-inflation wage hikes for years, adding to the cost burden of an industry that has been battling in the face of depressed prices, labour unrest and soaring power bills. read » S. Africa unions decry fatalities as six die at copper mine South Africa's mining industry is heading for the deadliest year since 2012 after six people died in an underground fire at Palabora Mining. read » African conglomerate Moti is open to $500m stake sale Moti said he'd be willing to sell as much as 25 percent to the right partner, but ruled out any prospect of an initial public offering. read » Wage talks begin in South Africa's shrinking gold industry Negotiations start against the backdrop of stark declines in the industry that was once the world's largest. read » 2,500 job cuts weren't enough for world's no. 2 platinum miner Implats isn't the only one facing difficulties, with about half of the industry's production estimated to be unprofitable. read » Read more Africa news on MINING.com » Home     Gold     Silver     Africa     Asia     Australia     China     Europe     Latin America About Us   |  Privacy Policy  |  Unsubscribe   |  Contact Us   |  Advertise This email was sent to you by InfoMine Inc. 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