Barrick Gold Corp has reported a 5% rise in its first quarter 2018 earnings, reflecting higher prices for gold and lower depreciation. Prior to adjustments relating to the divestment of a 25% stake in its Cerro Casale project in Chile, Barrick’s net income was $158 million...
Glencore has confirmed that the Democratic Republic of Congo’s state-owned mining company has begun legal proceedings to dissolve one of its subsidiaries because of a capital shortfall. In a company statement, the Anglo-Swiss commodities giant said it has ‘several options’ to address this shortfall at Kamoto...
Rio Tinto (ASX:RIO) hopes to finalise the sale of two aluminium smelters in Europe regardless of the recent sanctions imposed on Russian aluminium raw material supplier Rusal by the US. The Anglo-Australian mining giant announced a US$500 million deal to sell its Dunkerque smelter in France...
Japanese investment giant SoftBank has announced its entry into the global lithium market with the acquisition of a 9.9% stake in emerging Canadian miner Nemaska Lithium. The definitive agreement between Softbank and Nemaska will see the former invest C$99 million into the latter, supporting the development...
Glencore will not proceed with a share transaction involving Russian mining giant Rusal and its CEO Ivan Glasberg will step down from the board of Rusal in the face of escalating geopolitical tensions. Rusal is owned by Russian aluminium tycoon Oleg Deripaska, who is known to...
Botswana’s Debswana Diamond Mining is seeking permission to extend the lifespan of its Jwaneng mine and increase its production by 50 million carats. The joint venture (JV) between De Beers and the Southern African country’s government wants to deepen the pit to 830 metres which...
The mining industry across sub-Saharan Africa is set to continue receiving higher volumes of investment in Q3 2018, according to market research firm BMI Research. This is despite the fact that some African countries have moved to tighten laws and regulations regarding foreign investment in recent...
Golden Arrow Resources (TSX-V:GRG) has announced it has commenced the first diamond drill programme at its Antofalla silver-gold-base metal project in Catamarca Province, Argentina. The programme will include up to 3,000 metres of drilling on multiple targets that were delineated in the 2017 surface exploration and...
Glencore (LSE:GLEN) will purchase Rio Tinto’s (ASX:RIO) Hail Creek coal mine in Queensland for US$1.7 billion, in a deal which highlights a divergence in attitudes to the coal industry between Glencore and its rivals. The deal will see Rio transfer its 82% interest in Hail Creek...
West Africa-focused Hummingbird Resources (AIM:HUM) has announced a ramp up in gold production from its flagship Yanfolila mine in Mali. The high grade asset began producing gold in December 2017, with the performance of the plant steadily improving month by month. The plant operated at an average...