Fourteen NGOs oppose LME plans to ban tainted cobalt

South Africa seeks to extract greater tax revenues from its mining companies as they struggle to deal with rising costs and declining commodities prices.

Supply worries boost PGMs.

The country's diamond industry seems to be under the control of a "predatory elite."

Resource nationalism, poor infrastructure that hinders development and supply chain disruptions are some of the biggest risks the global mining sector will face this year.

Mines in Mali delivered more than 700,000 ounces of gold last year while government and rebel troops fight for control of the country.

The negative figures come comes after a 2011 profit of more than $1 billion, which highlights the grim financial situation Amplats currently faces.

Last October, Vale put the scope and schedule for its $1.26 billion Zogota iron-ore project in Simandou South under review.

Finance Minister, Tendai Biti, also said that diamond mining companies have not been paying revenues to the government.

Renowned hedge fund manager William Kaye says the world faces the prospect of another financial crisis should interest rates be increased and debt burdens be rendered unserviceable.