First Quantum to let 2,500 workers in Zambia go over tax hikes

Having trouble viewing this email?  View online Africa News Digest Friday 4 January 2019 Home     Gold     Silver     Africa     Asia     Australia     China     Europe     Latin America First Quantum to let 2,500 workers in Zambia go over tax hikes The Canadian miner said the job cuts will be implemented in phases during the first quarter of 2019. read » Centamin reshuffles board amid production hitches at Sukari mine Josef El-Raghy had moved from executive chairman to chairman, as the search for a successor continues. read » New era for Barrick Gold begins Barrick now trades as GOLD in New York and continues as ABX in Toronto. read » Blackwater founder launches fund to invest in electric car battery metals The founder of the US private security company aims to raise as much as $500 million to invest in deposits of metals such as cobalt, lithium and copper. read » Human activity creates 208 new mineral species Study shows mining has sparked "unparalleled inorganic compound diversification" like rabbittite at Lucky Strike, Utah and a handful found on smelter walls read » How to profit from low-grade gold mines Mining costs rose steadily through the 2000s which should have hurt a lot of gold miners. But it didn't. read » Lucapa Diamond locks in Mothae mine funding The Australian diamond miner has secured 100 million rand (about $7m) in development funding for the Lesotho mine from South Africa's Industrial Development Corporation (IDC). read » Zambia tax authority clears Gemfields' Kagem mine of tax evasion There were no findings of wrongdoing or late payment, the Zambia Revenue Authority (ZRA) said. read » AngloGold Ashanti's Tropicana gold mine can go underground — study A prefeasibility study into the development of a mine beneath the Boston Shaker pits confirmed the technical and financial viability of an underground mine at AngloGold Ashanti and Independence Group's Tropicana operation. read » Gem Diamonds finds record 14 stones over 100 carats in 2018 Miner is ending 2018 on a high note after finding another two large diamonds from its Letšeng mine in Lesotho, the world's highest dollar per carat diamond operation. read » Randgold to cease trading as merger with Barrick gets final approval The planned merger, which creates the world's top gold miner by value and output, has been approved by the Royal Court of Jersey. read » These are the three main trends to shape the diamond industry in 2019 According to Bain & Co., diamond miners and retailers will face an Increasing influence of digital technologies, growing presence of lab-grown stones and shifting preferences of younger generations of consumers. read » Firestone shares shoot up after finding 46-carat diamond in Lesotho The gem-quality white stone was recovered undamaged, the miner said, and will be sold at the next tender in January. read » Iamgold eyes growth in Burkina Faso, unveils resource estimate for Gossey Combined indicated and inferred resources for the satellite deposit, located 15 km northwest of its Essakane operation in Burkina Faso, amount to 376,000 gold ounces. read » Anglo ending 2018 on high note, predicts higher output, lower costs The diversified miner anticipates 2018 production to be 2% ahead of previous guidance and costs to be 5% below. read » Rio plans to delay ex-CEO's bonus again amid Guinea probe Rio said it would postpone any short- and long-term incentives owed to Sam Walsh for a minimum of two years. Rio is now planning to extend that time period. read » Ballots replace bullets as mineral giant Congo holds vote This weekend, the vast central African nation is banking on a new method: the ballot box. read » Russia's Nornickel terminates agreement with Botswana's BCL on asset sale The termination of the agreement will also enable Nornickel to pursue its own strategy for the African assets. read » Progress reported with graphite, vanadium projects on two continents Dan Weir, executive chairman of DNI Metals, speaks about the progress his company has made with its graphite project in Madagascar, as well as developments with its Alberta project. read » AMCU strike at Sibanye-Stillwater legal – South African court AMCU's strike is a protected strike and the AMCU members' constitutional right to strike remains protected. read » South Africa's Transnet hopes to re-open one closed coal export line on Saturday South Africa's Richards Bay Coal Terminal (RBCT) exported a record 76.47 million tonnes of coal in 2017, and aims to export 77 million tonnes this year. read » Zambia tax hike to make most mines unprofitable, group says The effective tax rate will range from 86% to 105%, with about 27,900 jobs at risk – Zambia Chamber of Mines. read » Lonmin's biggest mining union tries to block Sibanye deal The all-share deal is likely to lead to more than 10,000 layoffs. read » Eurasian Resources Group launches clean cobalt framework ERG recognises the urgent need for metal suppliers to commit to ensuring that cobalt is produced and sourced responsibly and sustainably and to support the efforts of its customers. read » Global Witness welcomes Canadian regulator ruling on Glencore-controlled company and executives Glencores Katanga Mining has today agreed to pay $22 million to settle allegations by Canadian regulators that it had failed to comply with disclosure requirements, 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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