Harmony Gold reports near tripling in Q1 cash flow

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

The rupee hit a record low in the last week of June and has lost nearly 8 percent so far in 2018. Local gold prices have risen more than 5 percent.

Shares jumped after the company said it had submitted additional technical studies to environmental and natural resources authority for permitting approval at its La India project.

Gold production for the three months to June dropped 36% to 133,778 ounces as operations at two its three mines - Bulyanhulu and Buzwagi – were scaled back.

Don't get your hopes up.

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

"He's my favourite."

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.

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