Gemfields reveals and denies fresh human rights abuse claims in Mozambique

The copper giant is having a rough start of the year with sinking copper prices, lack of cash and escalating costs.

Despite the fact that a major stakeholder has iced the project.

Rock was sold to US luxury jeweller Cora International NY through South Africa-based Golden Yellow Diamonds.

The seafloor miner revoked Papua New Guinea’s right to a 30% in its flagship project Solwara 1, and is now seeking undisclosed damages.

"We are not happy," said CEO Mark Cutifani.

Despite extreme measures taken by gold miners to balance their books, the sector continues to suffer the aftermath of last year’s precious metal price nosedive.

Investors bought a net 7.5 tonnes in SPDR Gold Shares on Thursday marking the best performance since October 2012 when gold was trading at $1,800 an ounce.

Returning to growth in 2016.

A 15% year-on-year drop in the average annual gold price in 2013 is forcing gold producers to revise the prices they use to identify ores that are profitable to mine,