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The Zimbabwean Government has given diamond mining companies in Chiadzwa and Chimanimani 90 days to remove their equipment and other valuables from the mines after it stopped their operations yesterday. The firms whose mining special grants expired and were not renewed will, however, be expected to hand over all diamond …
Read More »South African mining activity remains weak
South Africa’s mining production increased 3.3% year-on-year for 2015, following a decrease of 1.4% in 2014, according to data from Statistics South Africa. Output for December, however, decreased by 0.3% year-on-year, with negative growth rates recorded for iron-ore, down 17.1%; copper, down 15%; manganese ore, down 8.7%; diamonds, down 8.5%; …
Read More »Dangote Group struggles with ‘extremely tight’ forex situation
Dangote Group, Nigeria’s largest company, is struggling with a constricted supply of foreign-exchange in the West African country and is relying on its international cement operations and export-credit agencies to get around the shortage. “The forex situation is extremely tight in Nigeria,” group executive director Devakumar Edwin said on Wednesday. …
Read More »Democratic Republic of Congo ‘will not change mining code
DEMOCRATIC Republic of Congo’s Mines Minister Martin Kabwelulu said he has dropped plans to change the mining code in Africa’s biggest copper producer after opposition from mining companies. “The mining code, which is currently in place, will stay in place,” Mr Kabwelulu said at a speech to investors in Cape …
Read More »ZCCM-IH announces plans for an ambitious diversification programme
ZCCM Investment Holdings PLC (ZCCM-IH) says it has embarked on an ambitious diversification programme which will see its interests extended to the manufacturing, power generation, agriculture and real estate sectors. ZCCM-IH Chief Executive Officer, Dr. Pius Kasolo told delegates to the 2016 Investing in African Mining Indaba in Cape Town …
Read More »M&R, EGMF to set up DRC company at Mining Indaba
Underground mining services company Murray & Roberts (M&R) Cementation, together with Enterprise Generale Malta Forrest SA (EGMF), will be setting up a joint company in the Democratic Republic of Congo (DRC) to serve the mining industry in Central Africa. Johannesburg-based M&R Cementation, with a range of capabilities covering the full …
Read More »Gold miner Acacia looking beyond Tanzania
Gold mining company Acacia Mining is looking to go beyond Tanzania into Kenya and West Africa. Acacia CEO Brad Gordon told the 2016 Investing in African Mining Indaba that the company’s growth had stemmed from a focus on business fundamentals, people and relationships. Gordon spends a lot of time on …
Read More »Commodity downturn could get worse in 2016, warns Anglo American CEO
Anglo American CEO Mark Cutifani expected 2016 to be the most challenging year for the mining industry, stressing in a copy of a speech delivered at the Investing in Africa Mining Indaba, in Cape Town, on Monday, that things could get worse before getting better. He noted that the depth …
Read More »Kipushi mineral resource estimates exceed expectations -Ivanhoe
A new, independent, mineral resource estimate for Ivanhoe Mines’ joint venture Kipushi mine, in the Democratic Republic of Congo (DRC), has shown measured and indicated mineral resources in the big zinc zone of 10.2-million tonnes. “This has exceeded our expectations and we are convinced that significant additional mineral resources can …
Read More »Esqtra warns of lower H1 earnings, to sell Moz mining equipment
South African mobile capital equipment distributor Eqstra has, through its Mozambican subsidiary, signed a memorandum of agreement with Minas de Benga Limitada to dispose of all plant and equipment assets used in the provision of mining services during a five-year contract at Minas’ Benga coal mine, in Tete. This was …
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