Guinea not flexible on Simandou infrastructure – minister
Simandou is one of the world's biggest iron deposits, containing billions of tonnes of high-grade ore, but development has been complicated by its location far from the coast.
Gold Fields (NYSE:GFI), the world's fourth largest gold producer, has begun formal talks with its workers and union about labour reductions at its South Deep Joint Venture.
After seeing its share price halved in the past year, the Kinross Gold (TSE:K) board decided to remove Tye Burt and promote Paul Rollinson from Executive Vice-President, Corporate Development to CEO.
Three protestors are dead and 20 are injured at Aquarius Platinum's Kwezi shaft when 200 disgruntled former contractors, some carrying petrol bombs, forced their way onto the company's property.
The stock hit a high of $50 in May 2008 and came close again in April 2011, but at $170 billion, the Melbourne-based company is now valued at some $80 billion less that at its peak.
Bongani Mbindwane, CEO of South African junior explorer Platfields (SJ:PLL), has written an open letter to South Africa's mineral resources minister calling for direct assistance in dealing with the platinum sector's dire condition.
The gold-rich African nation of Tanzania has introduced a 30% corporate tax for mining companies in operation for more than five years, stating that the move is justified by rising precious metal prices on the international market.
The Royal Bafokeng nation, who control vast parts of the platinum belt in the north west province of South Africa warned that earnings at its main investment vehicle could be down by between 52% and 62% over the first six months of 2012.