Russia, world’s biggest buyer of gold, will stop purchases

The company managed to sell 90,642 carats of the 92,136 carats it made available under the auction.

The company said it believed that the Obuasi mine does not meet its criteria for making an investment.

Debswana, a 50/50 joint venture between De Beers and the government of Botswana, is set to close its Damtshaa mine and scale down production at Orapa.

It expects to complete the sale of the Bald Mountain mine and its 50% interest in Round Mountain to fellow Canadian miner Kinross Gold by mid-January.

Locals claim the dam has diverted the course of a local estuary, causing water shortages at a time of drought.

The site remained on fire on Thursday and the temperature inside the mine “could have reached 1,000 degrees” Celsius (over 1,600 Fahrenheit), according to rescue workers.

The firm has filed an amended application, which makes nearly 700 changes to the route in response to concerns about environmentally sensitive areas.

Stanmore Coal said it would employ 150 workers when the mine reopens in 2016; half the workforce in place when it closed last year.

While the company suspended production at Eagle Point, it said the Rabbit Lake mill continued operating as usual.