Mining billionaires who made their fortunes the fastest

The Morila operation continues to deliver value in its post-mining phase while progressing plans to develop the site into a commercial agricultural hub after its closure in 2019, Randgold Resources chief executive Mark Bristow said at an on-site media briefing today.

Shareholders voted overwhelmingly in favour of the cash takeover, which will make the South African firm the world's No.3 palladium producer and No.4 platinum group metals miner.

BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and expectations for a surplus.

World number two gold miner increases output to 1.23m ounces in the first quarter – Ghana expansion will add more ounces from next year.

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

Africa-focused gold producer has confirmed "multiple opportunities for extending the life of the operation beyond the current four-year horizon."

Production for the first three months of the year slumped 37% compared with the same period of 2016.

Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.

Another 5% iron ore price drop Tuesday slashes $30 billion from top 5 producers' market value in one month.