As South Africa’s platinum giants continue wage talks with labour unions, it has emerged that producers could push towards a pay settlement figure given to gold miners by Sibanye-Stillwater earlier this year. Sibanye agreed to increase the pay of workers at its three gold mines by...
South African mining firm Afrimat has withdrawn its offer to buy Australian-listed Universal Coal, citing the size and complexity of the transaction. Universal, a company with coal operations in South Africa, received a bid from Afrimat in April for its entire issued share capital. Afrimat’s offer...
At least 41 artisanal miners were killed on Thursday when part of a Glencore-owned copper-cobalt mine in Democratic Republic of Congo (DRC) collapsed. The incident occurred in the KOV open pit mine at the Kamoto Copper Company (KCC) concession in Southeast DRC. Glencore’s subsidiary Katanga Mining...
Gold output in Ghana jumped by 12% in 2018 to 4.8 million ounces (Moz), eclipsing South Africa’s output of 4.2Moz for the first time and becoming Africa’s largest gold producer in the process. South Africa’s gold sector has been in gradual decline for several years, with...
Sibanye-Stillwater is set to become the world’s largest platinum producer after its US$286 million offer to buy Lonmin was approved by the majority of the struggling PGM miner’s shareholders. Investors owning nearly 99% of Lonmin’s stock voted in favour of Sibanye’s all-share offer, which had been...
Acacia Mining’s minority shareholders have expressed disapproval of Barrick Gold’s US$285 million offer to take full control of the company, as the Canadian giant aims to resolve a long-standing tax dispute in Tanzania. Barrick currently owns 63.9% of Acacia, and its all-share offer values the company...
Barrick Gold Corp, the world’s largest bullion miner, officially began trading as a merged entity with Randgold Resources on Wednesday, after the US$18.3 billion mega-deal gained final approval last month. The company’s shares will be traded on the New York Stock Exchange under the ticker GOLD,...
Four emerging African technology businesses will be given the opportunity to pitch their innovative industry solutions at the 2019 Investing in African Mining Indaba through Australian incubator firm Unearthed Solutions. Unearthed has partnered with the Mining Indaba to create Startups Unearthed Africa, an online competition aimed...
The Australian High Commissioner to Zambia has called for a stable business environment to ensure investment continues to flow into the mining sector, following recent government proposals to increase royalty tax on the sector. “For any productive direct investment, the operating environment has to be right,”...
Zimbabwe Consolidated Diamond Company (ZCDC) plans to commence full-scale mining in the next 30 to 60 days at its Chimanimani diamond fields in Eastern Zimbabwe. Addressing stakeholders at the recent diamond security feedback meeting in Mutare, ZCDC’s chief executive Morris Mpofu said the company had already...