West Africa’s Premier Mining & Power Exhibition
“There are positive signs of recovery in the minerals sector in West Africa, especially in the gold mining segment. We want to build our own in-house resources in this region, and fine tune our service and support activities to add more value to our customers’ operations”
Ghana’s Chamber of Mines CEO tells government to back local production of imported mined resources and lists underexploited local resources which could boost the economy
Chamber of Mines chief exec tells world he has no confidence in RSA Mineral Minister Zwane and his new charter
South Africa’s Mineral Resources Minister Mosebenzi Zwane has clashed with Chamber of Mines chief executive, Roger Baxter, on the state of the industry reflecting a breakdown between the mining sector and the government.
Petra Diamonds’ stock market value fell after the Tanzanian government seized a parcel of gems valued at nearly $15m (£11.4m) as part of a parliamentary investigation into alleged wrongdoing in the diamond sector. The London-listed company also had to shut down its Williamson mine, the source of the stones, as “certain key personnel” were questioned by the Tanzanian authorities looking into how diamonds are being valued.
To ensure that the industry reaches its full potential and addresses the energy needs of citizens, it is necessary for businesses and producers to keep up to date with a rapidly changing landscape,” says CNBC Africa in its new top five trends list released today.
A year ago $1 dollar bought 14.47 Rand, today it’s 11 per cent stronger at 12.94. South Africa’s currency has been robust, despite international rating agency downgrades and accusation of a government lacking a clear focus, mired in scandal allegations and focus on the next presidential candidate. And that’s been bad news for mine operators who must pay wages in Rand but sell in dollars in then country with the world’s third largest gold reserves.
Rising commodity prices like gold and copper are creating a more stable environment; and exploration has returned, according to Jean-Claude Bastos de Morais, founder & CEO, Quantum Global Group; International Council member, Belfer Center for Science and International Affairs, Harvard Kennedy School, writing for The Mining Review
Deal will see ROSGEO use seismic and drilling vessels to explore South Africa’s south coast