Friedland allies with key players in Guinea to develop Nimba project

The stock closed 4.17% higher in London Tuesday after the miner revealed the discovery of two rare matching rubies from its Montepuez mine in Mozambique.

It may reduce the value of its 60% stake in the Samancor Manganese joint venture, as it keeps furnaces shut due to low prices for the commodity.

Iron ore trading at near four-months highs despite sharp drop in Chinese imports, but analysts say rally is "living on borrowed time."

When the market bears are growling, contemplating a trip to a showcase of the companies currently in the grip of that punishment can seem daunting.

The country's radical Association of Mineworkers and Construction Union (Amcu) said it would begin a wildcat strike in the sector if its rival union and companies extend wage deal to its members.

Underground mining royalties cut to 6% from 9%.

At its centre will be a shift of emphasis away from trade with the advanced nations, whose prospects are bound to subside towards their level of economic growth.

Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.

They shed $156 billion in market value last year, or about 16% of their combined worth, according to PwC.