Global miner Glencore Alloys and Merafe Resources have started a Section 189A process. The companies confirmed on Friday that written notice had been given to its employees at its joint venture (JV), the Rustenburg Smelter, in the North West.
Democratic Republic of the Congo (DRC) President Félix Tshisekedi will be attending this year’s Investing in African Mining Indaba, which will be held in Cape Town next month. He will be accompanied by a large delegation from the DRC, including two newly appointed Cabinet Ministers, namely Energy and Hydrocarbons Minister Eustache Muhanzi Mubembe and Mining Minister Willy Kitobo Samsoni.
Gemstone miner Gemfields intends to seek admission to trade on the Aim market of the LSE. The company does not intend to raise capital in conjunction with the admission, which it expects will become effective on February 14.
Ferrochrome producer Merafe Resources has resolved to restructure and simplify its group structure, which will result in the company holding a 100% interest in Merafe Ferrochrome and Mining (MFM). The restructure is believed to be beneficial from an operational perspective and to result in an efficient flow of funds.
Dual-listed B2Gold on Thursday said it remains well positioned for a continued strong operational and financial performance, with consolidated gold production for the 2020 financial year expected to be between 955 000 oz and just over one-million ounces. If the company's 34% share of attributable ounces projected to be produced at Calibre Mining's El Limon and La Libertad mines, in Nicaragua, is included, the company's total gold production is expected to be between one-million and 1.06-million ounces.
Diamond miner Lucara Diamond has entered into a collaboration with famous luxury house Louis Vuitton and diamond manufacturer HB Company to manufacture its historic 1 758 ct Sewelô diamond that was recovered from Lucara’s Karowe diamond mine, in Botswana, in April last year. The purpose of the collaboration is the planning, cutting and polishing of a collection of diamonds from Sewelô.
The World Gold Council (WGC) has introduced a pioneering methodology and analytic tool, called Qaurum, to provide greater clarity around the drivers of gold’s performance. Qaurum is a Web-based tool designed to deliver a robust quantitative approach to analysing how gold may react under diverse macroeconomic and geopolitical conditions.
The interplay between market risk and economic growth is expected to drive gold demand in 2020, with a particular focus on financial uncertainty and lower interest rates, as well as a weakening in the global economic growth and gold’s price volatility, the World Gold Council (WGC) says. Owing to this, high risks and low rates remain on the horizon for the commodity, WGC notes, adding that many of the global dynamics seeded over the past few years will remain generally supportive for gold this year.
The Dubai Multi Commodities Centre (DMCC) has inaugurated state-of-the-art luxury vault and safe deposit facility, the 818 Vault, in the Jumeirah Lakes Towers (JLT), in Dubai. Officially opened on Wednesday, the high-security vault adds to DMCC’s trade and business ecosystem that provides facilities, services and infrastructure to member companies operating in the gold, diamond, precious metals and jewellery sectors.
Multiple high-grade and broad gold intersections have been returned from initial drilling assay results for Aim-listed IronRidge Resources’ Zaranou gold project, in Côte d'Ivoire. Following the announcement on Wednesday morning, the Africa-focused minerals explorer’s share price on the LSE rose by 20%.