Egyptian billionaire Sawiris boosts exposure to gold

Sibanye is the largest individual producer of gold in South Africa and one of the 10 largest globally. OceanaGold is a rapidly growing multinational gold producer with assets located in the Philippines, New Zealand and the United States.

If the class action goes ahead, it will affect almost every gold mine in South Africa, including their parent companies, covering their conduct over the last 50 years.

Combined these mining and metal giants are worth $700 billion with operations in every corner of the world.

The 121.26-carat white rock is a Type II diamond "of exceptional colour and clarity," according to Petra.

Decision follows the West African country order to expatriates whose work permits were invalid to stop working.

Vancouver-based Nevsun sweetened the deal for Reservoir shareholders with a $75 million cash payment just before the vote.

Wood Mackenzie expects to see further cuts throughout the year and investment levels continue to shrink as more projects are dropped and companies struggle to breakeven.

The three-billion-year-old diamond the size of a tennis ball was found by Canada's Lucara Diamond last year.

The country is said to be sitting on mineral deposits worth hundreds of billions of dollars which, once developed, could surpass oil as its main source of income.