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South African coal miners reject pay offer

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South African unions representing coal miners rejected a 4% to 6.5% pay offer raising the prospect of a prolonged strike in the struggling sector.

De Beers improves sightholder capital access

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Philippe Mellier, CEO of De Beers, said access to capital for cutters and polishers had been improved after it improved the transparency of its contracts.

Rio to cut spending $500m to $5bn in 2016

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Anglo-Australian mining group, Rio Tinto, expected its 2016 capital spending budget to fall by $500m to $5bn.

Zim to auction Marange diamonds

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Zimbabwe would set up a diamond auction system similar to the Antwerp diamond bourse in an effort to generate greater profits from its natural resources.

Guinea completes review of BSG deal

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The government of Guinea said it had completed a review into a permitting agreement with BSGG over one of the world's largest untapped iron ore deposits.

Petmin’s Somkhele mine calls strike

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About 100 employees of Somkhele operator, Tendele Coal Mining, have been on strike since September 16 over wages and benefits.

Zambia does not plan to run copper mines

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The Zambian government would not take over mines where there had been heavy job losses.

Rwanda expects to double mining revenue

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A new mining tax due to be implemented next year would help Rwanda to a doubling of revenue from mining activities.

Analysts seeking comfort in Lonmin plan

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Analysts told Reuters that Lonmin's problems were significant and that a plan to restructure its business should be implemented properly.

FirstRand exposed to $200m iron ore debt

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FirstRand and Standard Chartered were two of several banks exposed to a $200m loan to London Mining, the stricken UK-listed iron ore producer.