Category «Mining & Metals»

Polished Diamond Prices Slide in September

RapNet Diamond Index (RAPI™) for 1 ct. GIA-Graded Diamonds -6.3% in 3Q October 13, 2015, New York … Diamond suppliers are under pressure as polished prices fell further in September. According to the Rapaport Monthly Report – October 2015, U.S. demand is steady as the holiday season approaches but Chinese buyers are restrained due to …

AngloGold Ashanti Reaches Three-Year Wage Deal With Majority of SA Employees

AngloGold

Johannesburg – AngloGold Ashanti has reached a three-year wage deal with the majority of its employees in South Africa, providing certainty to operations that accounted for little over a quarter of its total production past year. The National Union of Mineworkers (NUM), Solidarity and the United Association of South Africa (UASA) today accepted AngloGold Ashanti’s …

Groundbreaking partnership to revive Obuasi gold mine

AngloGold

(Accra, Ghana, 16 September 2015) – Randgold Resources Limited (“Randgold”) and AngloGold Ashanti have concluded an investment agreement (the “Agreement”) aimed at the formation of a joint venture to redevelop and operate AngloGold Ashanti’s Obuasi gold mine in Ghana.  In terms of the Agreement, Randgold will lead and fund a development plan designed to rebuild …

AngloGold Output up 17%, Costs Improve on Record Safety Result

AngloGold

AngloGold Output up 17%, Costs Improve on Record Safety Result (JOHANNESBURG) – AngloGold Ashanti reported a 17% increase in production for the second quarter compared with the same period a year earlier, as its two new mines continued to contribute lower-cost ounces, and a strong safety performance helped its South Africa operations improve their contribution. …

Update on South Africa Earthquake

AngloGold

Further Update on South Africa Earthquake (JOHANNESBURG) – AngloGold Ashanti confirms that each one of the 3,300 people working underground at its Great Noligwa and Moab Khotsong mines early yesterday afternoon, when a 5.3 magnitude earthquake struck South Africa’s North West province, were safely hoisted to surface by 7:30pm yesterday. Twenty-eight employees who sustained minor …

Continuing NUMSA strike action slows mining production

Labour Minister intervenes in Numsa strike

According to Stats SA, Mining production decreased by 6,5% year-on-year in May 2014. The largest negative growth rates were recorded for Platinum Group Metals (PGMs) (-48,5%), ‘other’ non-metallic minerals (-13,3%) and building materials (-11,7%). The main contributor to the 6,5% decrease was PGMs (contributing -10,4 percentage points). Iron ore was a significant positive contributor (contributing …