TSX retreats, Dec. 12–16
Canada’s largest stock market weakened, after the U.S. Federal Reserve raised its short-term interest rate by a quarter of a percentage point to between 0.5% and 0.75%. The spot gold…
Africa
Commentary: African expat salaries back on the rise after tepid 2016
Salaries for expatriates working in Africa are trending upwards after 85% of mining companies increased wages in 2017, according to research by our African-specialist human resources consultancy firm Globe 24-7….
Wall Street rises, Dec. 5–9
U.S. indexes finished strong, despite lower gold and oil prices. The Dow Jones Industrial Average gained 3% to close at 19,756.85. The S&P 500 Index also rose 3% to 2,259.53…
TNM Data Miner: Top 5 gold intercepts worldwide in November
Tapping into the IntelligenceMine database of our sister company Infomine, The Northern Miner has compiled the five projects recording the top gold intersections (grade multiplied by width) globally in or…
Sibanye to acquire Stillwater for US$2.2B
Sibanye Gold, the largest producer of gold from mines in South Africa and among the top-10 gold producers globally, will pay US$2.2 billion to acquire Stillwater Mining (NYSE: SWC), the…
Could Aton’s Abu Marawat in Egypt surpass Sukari?
When former Egyptian president Gamal Abdel Nasser stood on the steps of the Alexandria Stock Exchange in July 1956 and declared he was going to nationalize the Suez Canal, a…
Kamoa-Kakula deal ‘pivotal,’ Friedland says
Ivanhoe Mines’ (TSX: IVN; US-OTC: IVPAF) executive chairman Robert Friedland and CEO Lars-Eric Johansson held a conference call on Nov. 28 to share details on progress at the company’s three…
Rio Tinto faces scrutiny of African projects
Rio Tinto (NYSE: RIO) faces a new probe by U.S. regulators, according to the Financial Times. The London-based newspaper, quoting “sources close to the company,” reported that the U.S. Securities…
Randgold, Newcrest to team up in Côte d’Ivoire
Randgold Resources (NASDAQ: GOLD) and Newcrest Mining, two of the world’s leading gold mining companies, have signed a heads of agreement to negotiate a formal joint venture to explore areas…
Lucara’s cash position builds
Although it pulled its 1,109-carat Lesedi La Rona Type II gem from sale in June, after it fetched a high bid of US$61 million at a Sotheby’s auction, Lucara Diamond…
Lundin to sell Tenke stake to Chinese PE firm for US$1.1B
Six months after Freeport-McMoRan (NYSE: FCX) agreed to sell its 56% stake in the Tenke Fungurume copper-cobalt mine in the Democratic Republic of the Congo (DRC) to China Molybdenum, joint-venture…
Q&A: Decoding the diamond market
With a dismal 2015 in the rear-view mirror, the first half of 2016 saw surprisingly strong demand for rough diamonds. However, with new production coming online from several mines in…