Gem Diamonds finds record 14 stones over 100 carats in 2018

South Africa's ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering new taxes and "targeted interventions" in the sector, particularly platinum mines.

A new UN report says a US trade adviser appointed by Barack Obama orchestrated a $20 million deal to buy 1,045 pounds of gold in eastern DRC from warlord Bosco Ntaganda, wanted for war crimes since 2006. The botched deal by Houston oil tycoon Dr. Kase Lawal also involved his brother and former basketball star Dikembe Mutombo.

The Telegraph reports Chairman John Bond and CEO Mick Davis risk being voted off the board of Xstrata after being accused of negotiating "a cosy stitch-up" with Glencore and that other major shareholders have threatened to block the deal altogether if the Swiss commodities giant does not offer a "substantial premium."

Glencore International is in talks with Xstrata to merge in a deal that would create a $80 billion rival to BHP Billiton, Vale, Rio Tinto and China's Shenhua. Here's a wrap-up of what people are saying about the birth of the globe's first vertically integrated resource giant.

llana Potash Corp (TSX:AAA) is pleased to announce that it has closed its previously announced public offering of common shares of the Company. Pursuant to the terms of the Offering, the Company has issued 25,000,000 Common Shares at a price of $0.80 per share, for aggregate gross proceeds of $20,000,000.

Times of Zambia reports that the Zambian government is planning to increase its share of mining firms from 20% to 35% but is not planning a wholesale nationalization.

Originally the Bogoso/Prestea oxide plant in Ghana operated from 1990 to 2008, until it was sidelined due to a lack of an adequate oxide ore supply required to keep the plant afloat. After three years of being put on care and maintenance, Golden Star Resources (TSX:GSC) (AMEX:GSS) announced the re-commissioning of the oxide plant at Bogoso/Prestea, a move that’s expected to generate up to 70,000 ounces of gold in 2012.

BHP Billiton Limited (ASX:BHP) said Wednesday that it is selling its 37% non-operated interest in South African mineral sands venture Richards Bay Minerals to partner Rio Tinto PLC (LON:RIO). With this move, BHP is officially leaving the titanium minerals industry.

Junior miner London Mining’s stocks (LON:LOND) went up almost five per cent today as the company announced two major milestones: the first shipment of iron ore from its Marampa project in Sierra Leone and the commencement of production of coking coal in Colombia.