Zambia aiming for power prices that reflect costs by end 2018
The new measure will affect global mining firms including First Quantum Minerals, Glencore, Barrick Gold Corp and Vedanta Resources which currently pay a flat rate of 9.30 cents/kWh.
The Constitutional Court in South Africa has kicked open the door to class-action lawsuits against mine owners.
The lawsuits could cost miners billions of rand after the court ruled yesterday that mineworkers who had been laid off because of occupational diseases can sue their employers, Business Day reported:
The court handed down judgment in the matter of Thembekile Mankayi, who had sued AngloGold Ashanti for damages of R2.6m.
Mr Mankayi passed away last Friday of lung disease.
Bellzone Mining announced on Tuesday that it had completed a US$133 million placement of 102 million ordinary shares. Canaccord Genuity Limited was the lead manager.
Bellzone, an AIM-listed company, is developing two iron ore and nickel/copper assets in Guinea, West Africa. The Kalia iron deposit, a 50mtpa iron ore operation, is the company's flagship project.
TanzaniteOne Limited, the gemstones producer and developer, today announces the recovery of the third largest high quality gemstone ever mined in the 10 years operating history of the tanzanite project. The 12,100 carat (2.42 kg) rough tanzanite stone
South Africa's president, Jacob Zuma, on Saturday officially launched a state-owned mining company under which he said all state interests in mining would be consolidated
South African private investment company Ngwenda Gold - which holds extensive gold prospecting rights in South Africa's Free State Province - announced today that its court bid to reverse the hi-jacking' of its identity
South Africa’s state-owned African Exploration, Mining and Finance Corp. said it will start producing 800,000 metric tons of coal annually for domestic electricity provider Eskom Holdings Ltd. by June, Bloomberg News is reporting:
The company, jointly controlled by the government’s energy and mining ministries, will spend 130 million rand ($18.5 million) building a coal mine in Vlakfontein, about 80 kilometers east of Johannesburg, Chief Executive Officer Sizwe Madondo said at the site today. Production will be increased to 1.68 million tons, with the option of boosting it further to 3 million tons annually, he told hundreds of local residents.
In the 1980s unrest in the Middle East and a surge in oil prices, were the triggers which drove gold to record highs. The current Middle East/North Africa (MENA) unrest could see history repeat itself. It is possible to draw parallels between today's