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SA mining industry sees a turnaround in financial performance amid a challenging operating environment

SA mining industry sees a turnaround in financial performance amid a challenging operating environment

2017 was another challenging year for South Africa’s mining industry in light of a decrease in dividends and market capitalisation, various retrenchments across the industry, and marginal increases in taxes paid. However, spot price increases for bulk commodities supported the industry and resulted in a return to profitability after the first substantial increase in revenues […]

Delivery Unit Provides Guineans Training Opportunities in Mining

Delivery Unit Provides Guineans Training Opportunities in Mining

The Guinean government’s Delivery Unit (DU) today announced a plan to launch the development of the Mobile Training Unit (MTU) program, starting in the Boké region, to provide Guineans with post-graduate hands-on training and workforce insertion in the mining sector to boost skills and thereby employment. The first MTU in Boké will provide practical training […]

Former Zambia Mines Minister Acquitted of Corruption Charges By High Court

Former Zambia Mines Minister Acquitted of Corruption Charges By High Court

Another former minister in the MMD government has walked free in an abuse of authority case less than a week after Agriculture Minister Dora Siliya was acquitted on corruption charges. Maxwell Mwale who crossed over to the Patriotic Front in the heat of the August 11 elections was in June 2015 convicted of abuse authority […]

Uganda’s Museveni Cancels Multi-Billion Chinese Mining Deal Over Bribe

Uganda’s Museveni Cancels Multi-Billion Chinese Mining Deal Over Bribe

President Museveni has stopped a multi-billion copper mining project with a Chinese company at Kilembe Mines following information that a former minister pocketed a $1m bribe to influence the deal. The President also ordered investigations into allegations that top government officials, including a former minister, received millions of dollars in bribes to influence the award […]

South Africa’s Mining Minister Chased From Mining Meeting

South Africa’s Mining Minister Chased From Mining Meeting

Mineral Resources Minister Mosebenzi Zwane had to be whisked away from an angry crowd closing in on him at a community meeting in Mpumalanga on Friday. “You cannot come to another man’s yard and do as you please,” shouted one man at Zwane as the meeting degenerated into people shouting and booing at the minister. […]

It’s Time Africa Acted Over Its Wealth

It’s Time Africa Acted Over Its Wealth

That Africa needs to redress the huge gulf between its wealth and its poverty is a foregone conclusion. Statistics of outflows from Africa against inflows in everything from aid, foreign direct investment to remittances will boggle the mind. But you already know that. What Africa needs to do about it is another matter altogether. President […]

Mining Rot – Can Magufuli Shake the Dust Off Ruling Party?

Mining Rot – Can Magufuli Shake the Dust Off Ruling Party?

As Tanzanians grapple with what exactly to make of the findings of two presidential committees tasked with investigating the mineral concentrates saga, the spotlight is now on the pair of hands that are accused of signing the bad deals that have caused the Treasury shocking losses in potential revenue. That Tanzania has had a raw […]

South Africa, Botswana Clash Over Diamonds

South Africa, Botswana Clash Over Diamonds

Diamond production behemoth De Beers Group of Companies will hold a Sight next week at Diamond Trading Company Botswana (DTCB) in Gaborone where they will auction stones without rough diamonds from neighbouring South Africa. This follows a shocking decision last week by South Africa’s minerals minister, Mosebenzi Zwane, of refusing to grant an exemption to […]

We’re in Process of Retrenching Workers – Acacia Mining

We’re in Process of Retrenching Workers – Acacia Mining

Acacia Mining has confirmed that it is in the process of retrenching its workers mostly in the security section. Acacia communications and public relations manager Nectar Foya informed The Citizen in an email that the company will be outsourcing its security function at all three of its mines to a specialist security provider. Acacia owns […]

Where Pupils, Teachers, Parents Prefer Gold Mining to Schooling

Where Pupils, Teachers, Parents Prefer Gold Mining to Schooling

As early as 10am, seven-year-old Joseph Ouma is standing in a muddy stream, filtering gold from the water channels connecting to River Okame in Amonikanine village, Buteba sub-county in Busia district. As ZURAH NAKABUGO reports, Ouma is just one of many children who have all but abandoned school in favour of more ‘lucrative’ activities. Asked […]

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