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Andile Sangqu to head Anglo South Africa

By: Martin Creamer     Updated 11 minutes ago Andile Sangqu, former Xstrata and current Implats executive and new vice-president of the Chamber of Mines of South Africa, has sprung to further prominence as the new executive head of Anglo American South Africa. Anglo American plc also announced on Thursday that Kumba Iron Ore CEO Norman... 

Andile Sangqu to head Anglo South Africa
Norman Mbazima (left) and Andile Sangqu

Norway oil fund may have to sell out of up to 75 firms due to coal ban

By: Reuters     Updated 1 hour 56 minutes ago Norway's $900 billion wealth fund may have to sell out of 50 to 75 companies once new rules limiting its coal investments go into effect, Petter Johnsen, the fund's chief investment officer for equities said on Thursday. The fund's holdings in the firms are worth around 35 to 40 billion Norwegian... 

India’s SCCL lines up $80m for overseas acquisition

By: Ajoy K Das     Updated 2 hours 18 minutes ago India’s Singareni Collieries Company Limited (SCCL) has set up a corpus of about $80-million to acquire an equity stake in an overseas coal block. The southern India-based miner is seeking to pick up the stake to secure coal supplies of at least five-million tons a year, as part of a plan to ramp... 

India’s SCCL lines up $80m for overseas acquisition

De Beers, six others form Diamond Producers Association

By: Creamer Media Reporter      Updated 2 hours 26 minutes ago De Beers has partnered with six other diamond miners to establish the Diamond Producers Association (DPA), which would actively engage with industry and nonindustry organisations to promote the interests of the diamond sector. The other founding members were Alrosa, Rio Tinto, Dominion Diamond... 

De Beers, six others form Diamond Producers Association

Rockwell moves to close Remhoogte/Holsloot deal

By: Natalie Greve     Updated 2 hours 38 minutes ago South African diamond miner Rockwell Diamonds has completed a “substantial” portion of the conditions precedent for its acquisition of the Remhoogte/Holsloot operations and associated assets, paving the way to close the transaction and assume ownership on June 1. The properties and assets were... 

Gold Road hikes Gruyera mineral resource 44%

By: Esmarie Swanepoel     Updated 2 hours 46 minutes ago Junior gold developer Gold Road Resources has reported a 44% increase in mineral resources at its Gruyera mineral deposit, in Western Australia. The deposit was estimated to host 137.81-million tonnes, grading 1.24 g/t gold for 5.51-million ounces of gold. This was a 1.67-million ounce increase... 

Fortescue tie-up with a China steel group makes sense – official

By: Reuters     Updated 2 hours 55 minutes ago Debt-heavy Australian iron ore miner Fortescue Metals Group could find willing investors in Chinese steel mills anxious to ensure multiple sources of supply for the raw material, a senior Chinese government official said on Thursday. Media reports this week said Fortescue - already about... 

Newmont cancels Macmahon contract at NZ mine up for sale

By: Esmarie Swanepoel     Updated 3 hours ago Project house Macmahon Holdings on Thursday announced that its two-year contract with gold miner Newmont at the Martha mine, in New Zealand, had been cut short owing to safety concerns. The contract, which was valued at A$38-million, had initially been scheduled to complete in April next year;... 


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Pt 1126.00 $/ozChange: 6.50