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Sand quarry owners in Magarini District must from now on sell their sand to the Magarini Sand Harvesters Cooperative Society.
ZIMBABWE could have lost millions of dollars in a diamond sale after Minerals Marketing Corporation of Zimbabwe (MMCZ) authorised Sabi Gold Mine to auction gems for a song, businessdigest can reveal. Documents in our possession show that Sabi sold gemstones weighing 31,5 kg (157 968,71 carats) for US$3,50 per carat and realised US$553 890,49 on March 6 this year.
The laws governing mining activities in the country mandate mining companies operating in the country to pay between 3 to 6% percent of their earnings to the government as royalties, but as if by design, all the mining companies have settled for the minimum 3% royalty payment, despite gains gold has been making on the international market.
Debswana will spend $3 billion (P20 billion) over the next 15 years on extending the life of Jwaneng Mine.
HP Billiton , the world's largest mining group, said yesterday that it would use its strong cash position to capitalise on the recovery in commodities to fund new projects as most companies were cutting back their investments.
As a result of a global slump in the mineral prices due to a fall in demand on the global market, revenues from Rwanda's minerals are expected to drop by 36 percent, officials say.
Rwanda's mineral export volume in the 3rd quarter of 2009 registered an upward trend compared to the same period last year, but export receipts declined on account of low prices on the international market, the Ministry of Natural Resources (Minirena) has said.
THE Rapaport Diamond Trading Network -- an overseas-based global network of companies that supports the development of free, fair and competitive global diamond markets -- said yesterday it had banned trading of diamonds from Zimbabwe's Marange fields because of severe human rights violations.
THE public debate between the South African Communist Party (SACP) and the African National Congress Youth League over nationalising mines rages on, despite efforts to keep it in-house.
The Rapaport Group and the RapNet Diamond Trading Network have implemented an immediate trading ban on all diamonds from Zimbabwe's Marange diamond fields due to severe human rights violations. As Marange rough diamonds are uniquely identifiable, the ban does not apply to diamonds from Zimbabwe that are not from the Marange area.
JUNIOR miner Central Rand Gold (CRG) said yesterday the Financial Services Board (FSB) had rejected a complaint by its 26% empowerment partner, Puno Gold Investments, that CRG had issued false information to its investors.
YOUNG Communist League (YCL) national secretary Buti Manamela says the call by its counterpart in the African National Congress (ANC) to nationalise mines only amounts to "state capitalism" and would not restore SA's mineral wealth to the people.
HWANGE Colliery Company Limited will later this week receive the first batch of equipment acquired under a US$5 million deal with a South African mine equipment firm for its open cast operations.
WHAT does one make of the bizarre argument between the South African Communist Party's (SACP's) deputy general secretary, Jeremy Cronin, and the African National Congress Youth League's leader, Julius Malema, about nationalisation?
MINER First Quantum has agreed to buy base metals explorer Kiwara in a 260m cash and shares deal as it seeks to expand its copper operations in Zambia. The Toronto, Canada- based First Quantum has copper mining interests in Africa, while London-listed Kiwara has a prospecting licence in Zambia.
THE Zimbabwe Mining Development Corporation is expected to engage two more partners as it intensifies efforts to engage investors in the mining of diamonds in the Chiadzwa area as prescribed by the Kimberly Process Certification Scheme.
Tanzania could become the biggest gold producing country in Africa following new discoveries of gold in the most unlikely areas of Lindi and Nachingwea districts in the south of the country.
The deaths of four people at a small-scale gold mine in Tarime District points to a worrying trend that is becoming all too familiar.
South Africa-based Elgin Engineering and the state-owned Tanzania State Mining Corporation (Stamico) are jointly constructing a $20 million mining equipment manufacturing facility.
The people of Otuasega community in Ogbia local government area of Bayelsa State have raised alarm over the continued use of soldiers as instrument of intimidation by three multinational companies in the course of carrying out mining and exploration activities in the area.
SOUTH Africa-based investment firm, African Global Capital, believes now is the time to invest in the local mining industry to avoid losing opportunities to suitors also eyeing the sector.
THE federal government has once again being urged to extend the Extractive Industry Transparency Initiative (EITI) to the nation's solid mineral sector if the sector is also to contribute to national development.
Coal producer, Hwange Colliery Company Limited (HCCL) will this week receive the first consignment of haulage excavating equipment worth US$5 million from a South African company to augment its ageing mining fleet.
THE Nigerian Geological Survey Agency (NGSA) has completed 100% mapping of all the types and distribution of Nigerian solid minerals, and foreign mining firms have been besieging the NGSA to purchase the new information.
Residents of Mererani mining township have been challenged to venture into other economic investments rather than pipe dream on becoming rich through tanzanite mining and trading.
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