Strike takes shine off Barrick’s Loulo-Gounkoto production results

The world's number one platinum miner upped its back-to-work offer this week, but it was rejected.

Oil, gas and mining companies' request to have transparency rules put on hold under 2010 financial reform act has been rejected.

Despite market rumours indicating otherwise, South Africa’s platinum producer Lonmin (LON:LMI) rejected Friday a reverse takeover bid by Xstrata (LON:XTA), its unhappy largest shareholder, as it announced a loss before tax of $698 million in the financial year ending in September.

Inside sources claim platinum miner Lonmin (LON:LMI) will price an upcoming share offer at a 45% discount to the theoretical ex-rights price (TERP) on Friday, in the hope of raising a total of $800 million.

A new report by Johannesburg-based South Africa Resource Watch (SARW) claims that China is exploiting cheap labor in the sub-Saharan nation and subjecting employees in the mining industry to harsh working conditions.

AngloGold Ashanti (NYSE:AU) CEO, Mark Cutifani, reassured investors on Thursday the firm would turn the corner after several strikes in the mining sector left it with major losses.

In what it shouldn’t come as a surprise for anybody who has been following the news in the last three month, South Africa reported Thursday its mining output dropped 8.3% on the year in September.

The Democratic Republic of Congo's intentions to increase the government stake in mining projects by 35% will be first discussed with mining companies and also consulted with the World Bank and the IMF, said a source from the country’s ministry of mines.

The total value of overseas mergers and acquisitions pursued by Middle Kingdom's mining and metals players has surged this year according to sector experts from Ernst & Young Global.