Petra Diamonds cuts forecasts, jobs amid market weakness, softer prices
Petra’s sales revenue for the third tender fell 7% to $71 million, bringing year-to-date revenue to $146 million, down from $188 million last year.
Africa
Asante nets US$500M forward purchase deal for gold produced at Bibiani
Asante Gold (CSE: ASE; US-OTC: ASGOF) has secured US$500 million from UAE’s Fujairah Holdings for the forward sale of gold produced at its Bibiani mine in Ghana. An advance deposit…
London Symposium JV Video: Cornejo, Lundin redefine mining sustainability and bold deals
Forward-facing partnerships and sustainable innovation are reshaping the mining industry’s future, Teck Resources’ (TSX: TECK.A, TECK.B; NYSE: TECK) Amparo Cornejo and Lundin Group’s Adam Lundin told an industry event in…
Barrick Gold seeks arbitration over Mali mines dispute
The miner said it could suspend operations if gold shipments remain blocked.
Miners navigate high risks, ransoms in West Africa
Mali’s military government is trying to arrest the CEO of the world’s second-largest gold company while the junta in Niger has tightened its stranglehold on a French state-owned uranium mine….
Zimbabwe looks to hike free carry stakes in 2025
Zimbabwe is joining the club of African states looking for a higher ownership stake in mines and mining projects. It plans to take a 26% free carry interest in new…
Hummingbird Resources sold to Nioko Resources in £13.8M cash deal
Nioko Resources, a subsidiary of creditor CIG, on Monday agreed to buy Hummingbird Resources (AIM: HUM) in an all-cash deal worth about £13.8 million. Nioko, which owns 41.81% of debtor…
Barrick to halt Mali operations if output remains blocked
Barrick Gold (TSX: ABX; NYSE: GOLD), the world’s second-largest gold miner, has issued a stark warning: it will suspend operations in Mali if shipments of gold remain blocked and disputes…
Unrest pushes Syrah Resources to declare ‘force majeure’ at Mozambique graphite mine
Allegations of fraud in Mozambique’s general elections in early October have ignited protests and paralyzed mining operations across the country, including Syrah Resources’ (ASX: SYR) Balama graphite operation in the…
London Symposium Video: Sustainability innovations are reshaping mining, London panel hears
A renewed focus on sustainable industry is driving innovation to achieve it, a panel heard early this month in London. Dundee Sustainable Technologies (CSE: DST) vice president Brent Johnson spoke…
Global scramble for critical minerals fuelling protectionism
A growing wave of protectionism is sweeping across 72 nations, as governments scramble to secure access to critical minerals essential for strategic industries, new research by global risk intelligence firm…
China leads world in energy transition, Wood Mackenzie says
The world’s second-largest economy leads the energy transition and is on track to source half of its power from low-carbon energy including hydro, solar, wind, nuclear and energy storage by…