South Africa’s NUM union signs wage deal with AngloGold

India, the world's largest diamond processing market, is in a bind. The country that imported close to $7.5 billion in rough diamonds last year has not been able to shake off the embargo on the import of diamonds from Zimbabwe. Traders maintain that this has left the door wide open for more imports into China. In a bid to crackdown on reports that conflict or blood diamonds are being smuggled into India and laundered there, the Indian government had earlier blocked the import of roughs from Zimbabwe.

One of 2010’s glamour floats in Australia, Middle Island Resources Ltd (ASX: MDI) has decided to join some global majors, including BHP […]

A new local documentary to be screened in cinemas next week and engineered to make a case for the nationalisation of the mining industry called Mining for Change: A Story of South African Mining, presents studio footage of ANC Youth League president Julius Malema, likening mining company owners to car thieves.

Vancouver-based African Queen Mines announced on Friday that it has now commenced its 2011 core drilling program covering approximately 3000m at its King Solomon Project, located north of Lake Cahorra Basa in western Tete Province, Mozambique. The project is the subject of the earn-in and joint venture with Switzerland's Opti Metal Trading, covering exploration, development and exploitation. African Queen has so far earned an interest of 51% in the project and may earn up to 85% by funding additional prescribed stages through feasibility. The company is exploring properties in Mozambique, Kenya and Ghana for gold and other metals and it is undertaking exploration in Botswana and Namibia for diamonds, gold and other metals – the licenses in Botswana comprise approximately 2890 sq km of diamond prospects.

Shares in Africa-focused Globe Metals and Mining shot up on Monday after it released positive rare earth exploration results. Chinese state-owned firm East China Minerals Exploration and Development Bureau last month became the largest shareholder in Globe when it bought a 53.7 per cent stake.

Although there was no apparent news driving it, Ethiopian Potash's (TSX-V: FED) shareprice leapt by as much as 20 percent Monday, up from 75 to 90 cents on strong volume. The push upwards may come from investors in anticipation of drilling results from Ethiopian Potash's Danakil property, where it reports an inferred resource of 128 million tonne @ 21 percent potash.

Azumah Resources Ltd (ASX: AZM) said today it has secured an 11% stake in Castle Minerals Ltd (ASX: CDT) through a holding of 11.081 million shares. Azumah's managing director Stephen Stone said the company viewed the holding as a strategic investment that would increase Azumah's options should any of the growing market-based speculation about consolidation in the West African gold sector unfold.

Bloomberg reports that China National Gold Group Corp., the state-owned company that controls the nation’s largest gold deposits, wants to invest in projects in Africa as it expects bullion to trade near record levels for the next three years. Gold jumped to a record $1,577.57 an ounce this month, helping make this year among the busiest for gold deals since 2006. Citic Group, China’s biggest state-owned investment company, and partners agreed this month to buy Gold One International for about $469m to gain assets in South Africa.

Real estate magnate Lev Leviev has sold his 18% stake in Angola's Catoca diamond mine to China's Sonangol International for $400 million, Russia's "Kommersant" newspaper reports. Leviev acquired the stake in the Angola mine in the 1990s for $20m. Russia's state owned diamond producer Alrosa holds 32.8% of Catoca. Last week Alrosa provided a rare glimpse into its finances and operations ahead of a possible public offering. The state-owned company supplies about a quarter of the world’s diamonds and in 2010 produced more of the precious stones than De Beers, historically the dominant miner and marketer of the gems.