Anglo-American CEO Threatens South Africa With Another 100,000 Mining Jobs Loss

  Anglo-American CEO Threatens South Africa With Another 100,000 Mining Jobs Loss In a veiled threat to the South African government, Anglo American CEO Mark Cutifani has predicted the South African mining industry would lose another 100 000 jobs, unless the government “changed.”  Mr. Cutifani’s supporters are quick to remind that six years ago (2010), the outspoken Australian had predicted…

Sierra Leone’s “Peace Diamond” Sells for $6.5m in New York

    Sierra Leone’s “Peace Diamond” Sells for $6.5m in New York Sierra Leone’s giant 709-carat diamond has sold at auction in New York for $6.5m ($4.8m; €5.5m), Monday, December 4th, 2017. Laurence Graff, chairman of Graff Diamonds, won the precious stone – nicknamed the “peace diamond” – in bidding on Monday. Half of the…

Resource Nationalism Encore: Zambia Wants Bigger Stake in Copper Mines

  Resource Nationalism Encore: Zambia Wants Bigger Stake in Copper Mines Following the sharp rise in copper prices this year Zambia‘s State-controlled firm ZCCM Investments Holdings wants to increase its stakes in the country’s mines and also expects higher dividend payments, its chief executive said on Wednesday. ZCCM-IH, which was formerly called Zambia Consolidated Copper Mines Investment Holdings, has assets of about…

Don’t Believe the Hype: “Bitcoin is Not Dismantling Gold”–Frank Holmes

  Don’t Believe the Hype: “Bitcoin is Not Dismantling Gold”–Frank Holmes Frank Holmes, CEO and chief investment officer of US Global Investors, shares his thoughts on cryptocurrencies and the gold market.   The Investing News Network (INN) caught up with Frank Holmes, CEO and chief investment officer of US Global Investors (NASDAQ:GROW), at this year’s…

DR-Congo and Two Miners in Legal Tussle as As Global Price of Cobalt Rises 86%

    DR-Congo and Two Miners in Legal Tussle as As Global Price of Cobalt Rises 86% KINSHASA – An attempt by Congo’s Gecamines to profit from the boom in battery metals has backfired, leaving the state-owned miner facing two international court actions and halting cobalt production at a key mine. Gecamines blocked its 16-year partner GTL’s access to the cobalt site in the southeastern…

Is Botswana Bouncing Back and Deserving of Rating Upgrade?

    Is Botswana Bouncing Back and Deserving of Rating Upgrade? By: Jeremy Weltman Published on: Friday, October 20, 2017 S&P might be about to downgrade the issuer, but Euromoney’s experts say the risk situation is now improving. Order Diamond in the rough: There are signs that Botswana remains an attractive investment opportunity Botswana’s risk…

Russia Bets on “Voracious” China With $6 Billion Fertilizer Mines

    Russia Bets on “Voracious” China With $6 Billion Fertilizer Mines   MOSCOW – China’s dilemma of how to feed its booming population will partially be answered by fancier fertilizers, according to one of the world’s richest billionaires. EuroChem Group AG, owned by Russian commodities tycoon Andrey Melnichenko, is spending over $6-billion on two mines…

First Quantum Minerals’ Global Operations and the Fate of Mining in Zambia

Introduction First Quantum Minerals (FQM), which has operating mines in Australia, Zambia, Mauritania, Turkey, Spain and Finland, is also developing two other projects in Latin American — Haquira in Peru and Taca Taca in Argentina. This piece seeks to shed some light on the Vancouver, Canadian miner, its operations and deep embeddedness in Zambian politics…