Off The Wires

Mugabe condemns Russia sanctions

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Robert Mugabe, Zimbabwe prime minister, said UN sanctions against Russia for its role in Ukraine was the work of "evil men".

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.

Kusile delays as Eskom focuses on Medupi

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Timely commissioning of Eskom's second mega-power station, Kusile, may be threatened as the utility diverts resources to Medupi.

Gold industry in need of ‘cleansing’

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The world's gold industry might need cleansing as a third of production was losing money at a gold price lower than $1,235/oz.

Buffalo halts Magdalena after ‘water ingress’

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Buffalo Coal Corporation stopped production at its 1 million tonne/year Magdalena mine in KwaZulu-Natal after 'water ingress' at one of the mine's sections.

Randgold won’t pay premium for stake

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Randgold Resources CEO, Mark Bristow, said the group would not pay a premium on a premium it had helped create in Kibali gold mine.

Darwendale start of Russia, Zim co-operation

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Russia's trade minister sees the joint development of Zimbabwe's largest platinum mine as the start of bi-lateral co-operation between the two nations.

African Barrick to rebrand in November

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African Barrick is to drop the 'Barrick' from its name in an effort to show its independence of its parent company, said CEO Brad Gordon.

Chinese mull $14bn Guinea bauxite project

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Chinese company Shandong Xinfa Aluminium & Electricity Group is considering investing $14bn in a bauxite project located in Guinea.

Iron ore to rally by year-end

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The price of iron ore would rally off its lowest levels in five years by the end of 2014 as high cost production closed and the steel market improved.