Centamin drops more than 12 percent on second cut to annual output target

The National Mining Corporation (NMiC), an Ethiopian private company, announced the discovery of the largest ever gold and base metal reserves in Oromia and Tigray regional states. NMiC estimates that the 550,000 kg gold reserve at Dawa Okote, in Oromia Regional State is worth almost $US 5 billions.

2011 will go down as the year when the wind fell out of the sails of economic recovery and serious storm clouds gathered on the horizon.

Afrcan Barrick Gold (ABG) faces a multimillion court battle following its draconian decisions taken two years ago to freeze payments to Mwanza based firm, Simba Pipe Line, under the allegations of frauds. In 2009 ABG suspended all suppliers who were...

ATTORNEY-GENERAL, Mr Johannes Tomana, strongly believes world leading diamond company De Beers and the European Union have cases to answer for smuggling diamonds out of Zimbabwe and imposing illegal sanctions on the country respectively. In an intervie...

Concerned about the un-taxed export of byproducts refined from platinum, the Zimbabwean government is considering drafting laws that would force platinum mining companies to set up refineries.

Several industry sources say the miner is considering selling its majority stake in the Amapa iron ore operation in Brazil to focus on its flagship Minas-Rio growth project.

First Uranium said it plans to lay off up to 1,850 employees at its Ezulwini Mine in South Africa.

The miner has delayed the first shipment from its Marampa iron ore mine in Sierra Leone to January to allow it to use larger supramax sized vessels instead of handymax sized vessels.