MINING.COM MINUTE: Biggest stories of the week

President John Magufuli has asked for a review of a local contract belonging to Petra Diamonds and ordered senior officials to resign over the outcome of a probe into the diamond and tanzanite sector.

China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminium which the West African country has in abundance, the mines minister said.

A rise in refined supply (despite a 9% dip in mine-level output) and a drop in automotive and industrial demand erases Q1's 305,000-ounce deficit.

“The decision was driven by unsustainable cash outflows at the mine due to the concentrate ban and the operating environment,” company officials said in a statement.

Deputy Minister of Mines and Mining Development, Fred Moyo, said that his team looked into production and trading circles

Acquisition makes of the Canadian miner one of the few multi-asset, low-cost global zinc producers.

Zambian electricity utility Copperbelt Energy Corporation (CEC) and Glencore's Mopani Copper Mines have reached an agreement to restore full power supply to the mine from Wednesday, the president's office said on Wednesday.

The miner, South Africa’s largest gold producer, said that in the absence of a dividend, it’ll give investors two new shares for every 100 held.

Two more remain missing after they were trapped underground following an earth tremor last week.