Canada’s Endeavour Mining has dropped its plan to acquire Egypt-focused Centamin for US$1.9 billion as it did not get enough information on the latter’s assets during an assessment. Centamin’s sole operating asset is the Sukari Gold Mine, located in the Eastern Desert approximately 700 km from...
Resolute Mining has signed a definitive agreement to sell the Ravenswood Gold Mine in Queensland for US$206.9 million, as the gold miner doubles down on its African portfolio. The Ravenswood mine will be acquired by a consortium comprised of a fund (EMR Fund) managed by EMR...
South Africa’s mining industry body has made a statement urging President Cyril Ramaphosa’s government to take a number of critical steps needed to address the country’s ‘economic crisis’. The Minerals Council South Africa said it believes that insecurity of power supply is at the heart of...
Fortescue Metals Group is one of a host of Australian mining companies to have made donations to relief agencies fighting the intense bushfires that continue to burn across large swathes of the country. The iron ore miner pledged AUS$1 million to the Minderoo Foundation Fire Fund, while its founder and...
Egypt-focused gold miner Centamin improved gold output from its flagship Sukari mine by 51% in the final quarter of 2019, driven by better feed grades, metallurgical recoveries and a year-end plant drawdown of gold in-circuit. The London-listed firm produced 148,387 ounces of gold in Q4, contributing...
West African miner Teranga Gold exceeded the top end of its 2019 gold production guidance to cap a year which saw the Toronto-based firm become a multi-asset gold producer in the region. Year-on-year gold production increased by 18% to 288,768 ounces in 2019, with the Wahgnion...
Anglo American has confirmed it is in advanced discussions with London-listed miner Sirius Minerals after proposing a takeover offer valuing the struggling company at about £386 million (US$507 million). The 5.5p per share cash bid comes in at 34% above Sirius’ current share price, which has...
ASX-listed Lucapa Diamond Company has reported a record year of production from its two African mines – Mothae in Lesotho and Lulo in Angola. The two operations produced 49,120 carats of diamonds in 2019 which helped the company make combined sales of US$55 million from the...
Canadian mining giant First Quantum Minerals is pondering an investment of around US$1 billion to boost falling production at the Kansanshi copper mine in Zambia, according to a company document seen by Reuters. In the presentation given to Zambian government officials, First Quantum said the investment...
The price of gold reached its highest level in over three months on Tuesday to cap a stellar 2019 performance by the precious metal – its best year in nearly a decade. Spot gold rose to $1,524.20 per ounce, its highest level since September 25th when...