Quebec miner looking for cobalt and precious metals

In partnership with the Wits Mining Institute (WMI) at the University of the Witwatersrand, the company launched the Sibanye-Stillwater Digital Mining Laboratory (DigiMine).

South Africa’s top gold producer has secured a 38% stake in DRDGold in exchange for some of its assets, which boosts the mid-tier gold miner’s reserves by 91% to 5.7 million ounces.

Producers in South Africa are closing shafts and cutting jobs as a stronger rand combines with stagnating prices for the metal in squeezing profit margins.

It was unclear where all the funding would come from and analysts said the project start date of July looked very ambitious.

Newly appointed Minister of Mineral Resources Gwede Mantashe said the key to regain investors and miners confidence in the South Africa’s mining sector was to finalize revised plans for black ownership in the industry in the coming weeks.

The mpowerment laws now limit majority ownership by state miners only to the diamond and platinum sectors, as oppose to the entire mining sector.

The strengthening rand, which squeezes profits for both producers, could make the transaction less attractive for Sibanye.

Mining companies operating in the country vigorously oppose new code to be signed into law.

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