More than 1 000 South African workers at a Sibanye Gold mine have ended a two-day sit-in to protest against the deaths of colleagues, a union and company officials said on Wednesday.
The 64-year-old American-Belgian citizen has become the first businessman ever arrested for suspected involvement in the illegal trade of “blood” diamonds.
The Vancouver-based miner aims to produce 280,000 to 300,000 tonnes of the red metal a year, but commercial levels won't be reached until state power utility Zesco finish connecting the mine to the power grid.
With the only exception of gold, production numbers for most other commodities mined in the Central African nation are also expected to decline this year.
An arbitration tribunal is set to decide in October whether Acacia Mining has to pay a $115 million compensation claim to a former partner in Tanzania.
Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.