Steinmetz to face corruption charges at Geneva trial

Lundin Mining's board of directors, chaired by billionaire resources tycoon Lukas Lundin, refuses to invest in Eritrea.

Zimbabwe has attracted intense interest from miners with a promise of favourable terms as it seeks to reboot its economy after veteran leader Robert Mugabe was ousted last year.

Commercial production is expected in the second quarter of the year.

The charter lays out requirements for black ownership levels and other targets.

Chief executive Jean Sebastien-Jacques said the challenge for the industry is to ensure the benefits from the past frugal years are not lost against a backdrop of rising oil prices and increased political risk.

Stuart Brown has over 25 years of experience in the diamond industry and is the outgoing Firestone Diamonds chief executive officer.

By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye’s were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).

"Women’s contribution to the mining sector is masked by the dominant reflection of men’s roles in mining, often hindering their meaningful participation.”

Shanta Gold will conduct further exploration near its main mine in Tanzania after cutting costs in the past year to cope with tougher mining laws.