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Monday, 20th September 2021
9:24:14pm

Mining

Articles related to mining

Gem Diamonds H1 core earnings more than halves as pressure on pricing of smaller rough stones continues

Gem Diamonds’ underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) contracted to $25.3 million in the first half of 2019 from $70.7 million, the previous year.

This, it said, resulted in an attributable profit from continuing operations of $6.2 million down from $26.8 million, a year earlier.

Pressure on pricing of…

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Zambia mining firms say mineral royalties should be capped at 7.5%

Zambia should keep mineral royalties capped at 7.5% in the 2020 budget to safeguard the health of the mining sector and promote additional investment, the Chamber of Mines said on Tuesday.

The mining body said in proposals submitted to the finance ministry that the 2019 mining tax regime had raised the tax burden on mines to unsustainable and…

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De Beers provides customers further supply flexibility as diamond sales plummet

De Beers provided its customers with further supply flexibility during the seventh cycle of 2019 as midstream participants continue to work down polished diamond inventory levels coupled with reduced levels of manufacturing in the key cutting centres.

De Beers’ August diamond sales eased 57% to $280 million compared to $503 million realised, a year…

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Sibanye-Stillwater hints at interest in AngloGold's Mponeng mine

The chief executive of South African mining company Sibanye-Stillwater said on Thursday that the firm has a non-disclosure agreement with AngloGold Ashanti regarding AngloGold’s Mponeng mine, suggesting Sibanye may be interested in the asset.

AngloGold said in May that it would review divestment options for its Mponeng mine and other South African…

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Vedanta fails to stop KCM liquidation in meeting with Zambia's president

Zambia’s President Edgar Lungu met with the chairman of Vedanta Resources to discuss the disputed liquidation of its Konkola Copper Mines, a statement issued by the Zambian State House said on Wednesday.

Vedanta has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by…

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