Thursday, 20th September 2018


Articles related to mining

AGD DIAMONDS enters international diamond market

JSC Arkhangelskgeoldobycha has been renamed JSC AGD DIAMONDS as it enters the international market.

The rebranding of the joint-stock company was due to its new marketing policy aimed at its global customers – buyers of rough diamonds.

AGD chief executive Sergey Neruchev said  the acquisition of a 100% stake in Grib Diamonds N. V., which operates…

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Petra Diamonds boosts core earnings, Dippenaar steps down as CEO

Petra Diamonds said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) leaped 37 percent to $195.4 million in the fiscal year 2018 from $142 million, a year earlier.
The increase in the group’s full-year adjusted core earnings was attributed to improved production.
Production, excluding KEM JV, which was sold…

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South Africa's Harmony Gold reports profit drop, mining deaths spike

South Africa’s Harmony Gold reported a 43 percent fall in annual earnings on Tuesday, hurt by impairments and a loss relating to debt denominated in U.S. dollars, and had a worrying setback in its safety record.

The gold industry in South Africa, which has produced a third of the bullion mined in history and is home to the world’s deepest mines,…

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Peregrine security holders approve De Beers deal

Peregrine Diamonds said its security holders have approved the move by De Beers Canada to acquire the company for C$107 million ($81 million).

The special resolution was passed with approval by 98.35 percent of votes cast by shareholders.

Peregrine said it now expects to apply for a final order of the Supreme Court of British Columbia for approval…

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Gold Fields' CEO says South Deep lay-offs "last-gasp measure"

Gold Fields’ plan to potentially cut up to almost 1,600 jobs at its struggling South Deep mine in South Africa is a “last-gasp measure”, Chief Executive Nick Holland said on Wednesday.

The company made the announcement on Tuesday, citing mounting losses and a “consistent failure to meet mining and production targets” among the reasons for the move…

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