The $5.7 billion Jansen mine will have an annual capacity to produce around 4.4 million tonnes of potash with an estimated mine life of 100 years.

The country's government also sent warnings to three companies as it looks to kick-start development of its vast mineral resources.

Despite gold's price slump, strong copper and iron ore prices lifted MINING.COM's ranking of the world's 50 most valuable miners to a new record high of $1.35 trillion.

Tailings pond at the old Piney Point phosphate mine threatens to burst, releasing millions of gallons of toxic water.

The Australian miner says that both energy sources are viable power alternatives for its 100%-owned Colluli sulphate of potash (SoP) project.