Mining

Zambia chamber of mines says double taxation hurting investment

The chamber welcomed the withdrawal of duty on ore imports, announced in the budget on Friday, and acknowledged the sensitivity of the issue, given the initiation of negotiations to suspend Zambia’s bond repayments.

Gold miners insist they won’t splurge despite price surge

“Wherever we see opportunities to add to our Tier 1 portfolio, we’ll be right there in front of the queue,” he said, but added: “The most important thing is exploration and organic growth.”

AngloGold Ashanti reinstates trimmed 2020 output guidance

That is slightly lower than its February outlook which saw output of between 3.05 million and 3.30 million ounces, while capital expenditure was anticipated between $920 million and $990 million.

Nigeria says can tap mineral wealth despite COVID, unrest

Nigeria hopes mining will grow tenfold in five years to account for 3% of the economy and that Nigeria can process as well as mine, which generates increased profits compared with shipping raw minerals.

S.Africa’s AngloGold Ashanti, Barrick Gold to sell out of Mali gold mine

JOHANNESBURG (Reuters) - AngloGold Ashanti and Barrick Gold will sell their effective 80% stake in the Morila Gold Mine in Mali, the...

Angola to join oil and extractives transparency group

LAGOS (Reuters) - Angola plans to join the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in revenues from...

Nigeria’s Lekoil seeks $100 mln for Ogo oilfield drilling

LAGOS (Reuters) - Nigerian energy company Lekoil Ltd needs to raise around $100 million before it can start drilling in its Ogo...

Exclusive: Glencore puts entire stake in Mopani on the table in talks with Zambia: sources

Glencore wrote off the value of Mopani by $1.144 billion in its half-year earnings report earlier this month, saying the estimated recoverable value was $704 million, including tax receivables.

S.Africa approves AngloGold’s Harmony sale but with conditions

JOHANNESBURG (Reuters) - South Africa’s mines ministry has given the green light for the sale of AngloGold Ashanti’s last remaining assets in...

Zambia’s ZCCM-IH seeks to take control of Glencore’s Mopani Copper Mines

In May, Mopani said it would resume mining operations for 90 days but still expected to go into care and maintenance - a term for a temporary production halt during which a mine site is maintained ahead of an eventual restart.

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