Category: World News

Namibia and De Beers ink 10-year diamond sales agreement

The Government of the Republic of Namibia and The De Beers Group of Companies have signed a new 10-year sales agreement for the sorting, valuing and sales of Namdeb Holdings diamonds. “Namibia will see a significant increase in rough diamonds…
Boliden announces acquisition of Kevitsa mine for US$712m

Swedish mining and smelting company Boliden has reached an agreement with First Quantum Minerals to acquire the Kevitsa nickel-copper-gold-PMG mine in Northern Finland for USD$712 million in cash. Boliden’s President and CEO, Mr Lennart Evrell, described the acquisition as an…
Randgold and AngloGold shelve plans for Obuasi joint venture

Randgold Resources has told AngloGold Ashanti that it will terminate the conditional investment agreement for the redevelopment of the Obuasi mine as it didn’t meet its investment criteria. “After undertaking a due diligence exercise into the mine and the redevelopment…
Anglo American set to axe 85,000 jobs

Global mining giant Anglo American has announced a radical restructuring program which will see the company shed around 85,000 of its employees. Anglo American Chief Executive Mark Cutifani said that the ongoing commodity price slump prompted the company to take…
BHP confirms: Brazil will sue over Samarco mine disaster

Mining giant BHP Billiton has confirmed that Brazil plans to sue the mining company and its partner Vale for $7.2 billion dollars over the Samarco mine disaster. The federal and state governments of Brazil announced yesterday that they plan to…
BHP update on Samarco dam disaster

Mining giant BHP Billiton has issued further information about the incident at the Samarco Mineração S.A (Samarco) iron ore operation in Minas Gerais, Brazil, which occurred on Thursday, 5 November 2015. According to initial reports, two dams collapsed at the…
Glencore inks $900m streaming deal with Silver Wheaton

Glencore has announced that it has agreed to sell its silver output from its stake in the Antamina copper mine in Peru to Silver Wheaton Minerals. Glencore owns 33.75% of Compañía Minera Antamina S.A. (“CMA”), which owns and operates the…