The government of Zimbabwe has announced plans to promote use of local currency in mining transactions. Finance Minister Mthuli Ncube made the announcement and said the order reverses a 2020 decision requiring mining companies to pay the tax only in foreign currency. Mining companies will pay mineral royalties in theContinue Reading
Anglo American Platinum (Amplats) has announced plans to sell stakes; a 50% interest in pool-and-share agreements (PSA) related to two South African mines to platinum group metals miner Sibanye-Stillwater(PGM). The sale follows the completion of Anglo American Platinum’s restructuring and repositioning of its portfolio. Based on the results, Anglo American considered KroondalContinue Reading
Saudi has recorded its highest revenues in the mining industry this year. Ministry of Industry and Minerals Resources confirmed and said the mining sector exceeded SR724 million ($192.8 million) in first 10 months of the year, with 690 mining licenses issued this year. Mining revenues this year went up byContinue Reading
Nadia Statham, financial director at BME Nadia Statham has been appointed Financial Director of blasting and explosives company BME, a member of the JSE-listed Omnia Group. Joining BME in 2017 as Head of Commercial, Statham progressed to the position of General Manager Commercial in 2019 – becoming a member ofContinue Reading
ALROSA, the world’s leading diamond miner by volume in carats, released its first ever Impact Report covering the period 2010-2020. The report summarises the company’s social and economic progress in Yakutia, Russia’s largest and coldest region, which is home to 90% of ALROSA’s operations. ALROSA’s diamond mining activities in YakutiaContinue Reading
Nigeria has recorded a 15% increase in earnings from the mining sector. This is according to a new report released by the Nigeria Extractive Industries Transparency Initiative (NEITI). The data showed that the country earned US $195million from the solid minerals sector in 2019, increasing from US $170million recorded the previousContinue Reading
Today, the Commission announces an additional €20 million to finance a new power plant in Rwanguba, that will provide a further 15 Megawatt of electricity. The European Union’s rapid response to the urgent environmental crisis in the Democratic Republic of the Congo has helped to restore up to 96% of the powerContinue Reading
Perseus Mining Limited has released its CY20 Sustainable Development Report. The report details the company’s progress over the past 12 months in delivering on its commitment to responsible mining operations in Côte d’Ivoire and Ghana, including an overall economic benefit to host countries totalling about USD$385M. As part of its longstandingContinue Reading
ZCCM-Investment Holding (ZCCM-IH) has acquired an additional 50% shareholding in Kariba Minerals Limited from Gemfields Limited at a cost of US$2.5m. The acquisition means that ZCCM-IH now owns 100% shares in Kariba Minerals Limited. According to the directors’ interim unaudited financial results for ZCCM-IH and its subsidiaries for the sixContinue Reading
Liberum Capital has been appointed as a consultant and joint broker to Pensana Rare Earths, with a particular focus on environment, social and governance (ESG) matters. The Chairman, Paul Atherley, said that the London broker is looking to help establish the world’s first fully sustainable mine to magnet supply chainContinue Reading
