The Zimbabwe Chamber of Mines says the government's hike of pre-exploration fees for the majority of minerals – by as much as 8,000% – together with increased royalty rates will cripple the industry.
Caledonia Mining announced on Monday it has signed a deal with the Zimbabwe government to sell 51% of its Blanket mine to indigenous Zimbabweans for $30 million. The purchase price will be paid to Caledonia from future Blanket dividend payments.
Brazilian copper developer Avanco Resources (ASX:AVB) said today that it would double the company’s copper gold resources through the acquisition of the Pedra Branca Copper-Gold Project in Brazil's Carajas Mineral Province from Xstrata Copper.
At last count four law firms say they are filing class action lawsuits stemming from Kinross Gold's decision to take a non-cash goodwill impairment charge of nearly $3 billion.
Two of the 33 Chilean miners trapped during 69 days underground in 2010 are back in the mining world, after over a year of vain efforts to find a job, reports local online news site SoyCopiapo.cl.
Wild price swings caused by a volatile rupee sapped Indian buying interest in gold in the fourth quarter of 2011, with imports well short of expectations and no pick up expected this year, dropping it behind China for the first time.
As a means of compensating for lost oil revenues following secession of South Sudan, Sudan has exported some $400 million worth of gold already this year.