Mining: Glencore shares jump on asset sales, strong trading
Wednesday, 04 November 2015 Dmitry Zhdannikov and Olivia Kumwenda-Mtambo
Mining and trading company Glencore said on Wednesday it was on track to reduce debt thanks to asset sales, while deepening cuts in copper output to support flagging prices, sending its shares 6 percent higher.
Work to start in 2016 at Botswana $4.2 bn coal-to-liquids plant
Tuesday, 27 October 2015 Tiisetso Motsoeneng
Funders of a $4.2 billion coal-to-liquids plant in Botswana will start construction next year on the project, which aims to tap the southern African country's more than 200 billion tonnes of coal resources to reduce reliance on petroleum product imports.
The International Finance Corporation (IFC) and Australian-based fund manager Taurus Mining have agreed to invest $162.5 million in one of Democratic Republic of Congo's largest copper mines, its owner Tiger Resources said on Friday.
Mining: South Africa's AMCU union to vote on gold strike
Friday, 09 October 2015 Ed Stoddard
South Africa's Association of Mineworkers and Construction (AMCU) will decide on Sunday if its members in the ailing gold sector will go on strike, a move that will be contested by two of the three producers it has reached an impasse with over wages.
Mining companies in Zambia have asked the government to set mineral royalties for both underground and open pit operations at 6 percent to mitigate the negative impact of falling copper prices on the industry, sources said.
Wednesday, 16 September 2015 Olivia Kumwenda-Mtambo
Mining and trading group Glencore has raised $2.5 billion through a share placement as investors including senior managers upped their bets on the company to help it cut debt and protect its credit rating.
Environment: Zambia orders Vedanta's Konkola to dispose of Chilean copper
Tuesday, 15 September 2015 REUTERS
Zambia's environmental management authority on Monday ordered Konkola Copper Mines (KCM) owned by Vedanta Resources to dispose of copper concentrates it imported from Chile because they had high levels of arsenic, a toxic substance.
Mining: China's CNMC challenges Zambia after placing 1,600 miners on forced leave
Monday, 14 September 2015 REUTERS
China's CNMC Luanshya Copper Mines claims it followed Zambian law when it closed the Baluba mine and sent more than 1,600 workers on forced leave after Zambia threatened to revoke Luanshya's mining licence if the company did not reinstate the workers.
Glencore to suspend dividend, raise equity to cut debt
Monday, 07 September 2015 Olivia Kumwenda-Mtambo in Johannesburg
Mining and commodities trading firm Glencore announced on Monday it will suspend dividends, sell assets and raise $2.5 billion in a new share issue as it aims to cut its debt by a third to $20 billion by the end of next year.
South African gold sector unions reject final wage hike offer
Friday, 07 August 2015 Zandi Shabalala in Johannesburg
The South African Chamber of Mines said on Friday all unions representing workers in the gold sector have rejected the final wage increase offer from bullion producers, setting the stage for protracted negotiations.
Monday, 15 June 2015 Gregory Mthembu-Salter in Cape Town
The dramatic fall in the gold price has exposed just how many miners did not save enough during the boom years. They are now looking to sell off non-essential assets, while new tax regimes and community activism add to their pressures.
Mining: Zambia's government irked over layoffs by Canada's First Quantum Minerals
Friday, 03 April 2015 REUTERS
The Zambian unit of Canada's First Quantum Minerals said more than 300 workers were being laid off at its Kansanshi mine, drawing a government call for redundancies to be canceled on the grounds it had not been informed as required by law.
Mining sector concerned at draft changes to Congo regulations
Tuesday, 10 February 2015 REUTERS
Mining companies said on Monday the Congolese government's suspension of negotiations with them over new regulations could jeopardise investments, and urged it to resist making big changes to the mining code.
The rise and rise of global commodity prices is over, but it's not all gloom and doom in the mining sector. What we can expect in the coming year is a geographical shift in both the African countries offering the best investment environment and the global players looking to profit.