Deep-South takes Namibia’s mining minister to court over licence refusal

The platinum producer has started a process that’s required under South African labor law to carry out the workforce reductions.

Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.

Sibanye Gold reiterated that its increased offer for Lonmin is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge.

Copper is slumping toward a three-month low even after Zambia moved closer to nationalizing some of its mines.

The threat marks an escalation in tensions between the mining industry in Africa’s second-biggest copper producer and the state, after an increase in royalties and plans to introduce new taxes.

The transaction would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.

Beravina is a hard rock zircon deposit with a NI 43-101 Inferred Mineral Resource estimate of 1.5 million tons at 22.7% zircon (ZrSiO4) equivalent to 15.3% ZrO2.

If successful, talks will see him move to develop the Nimba deposit on Guinea’s border with Liberia, which has sat undeveloped for years.

The company also expects to halve the amount of job cuts previously announced in the gold division to around 3,000.