De Beers diamond sales hit highest level since mid-2018
The world’s top diamond producer by value sold $575 million in its third sales cycle of this year, the highest since the fifth cycle of 2018, when it recorded $581 million.
Gold One International (ASX:GDO) is lifting the operational suspension imposed on its Ezulwini Cooke 4 shaft last month and will offer employment to workers who were dismissed for participating in strikes during October.
Drilling at Harmony Gold’s Kusasalethu mine, in western Gauteng, was halted on Monday after a worker was killed and another injured in a blasting accident.
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.