Zambia confirms it will lower royalty to 6%
Zambia confirmed it would lower the royalty payable for underground mining to 6% from the recently adjusted level of 9%.
Motsepe to keep ARM’s 14.6% stake in Harmony
Patrice Motsepe, executive chairman of African Rainbow Minerals, does not intend to sell the firms 14.6% stake in Harmony Gold despite poor trading conditions.
Zamiba may cut royalties further
Zambia may further reduce royalties payable on underground mining activities to below the recently restated 9%.
Congo set to grow 9.2% in 2015
The economy of the Democratic Republic of Congo is forecast to grow 9.2% this year, said the International Monetary Fund.
Zambia, Old Mutual in mines’ power project
Old Mutual may buy a share in a $220m hydroelectric power project being developed by Copperbelt Energy Corp, the largest supplier to mines in Zambia.
Blackout rumours a “malicious hoax”: Eskom
Eskom dismissed a rumour it had informed the South African government the country was close to a blackout as a "malicious hoax" that first went viral in April.
Oversupply to continue, says BHP’s Mackenzie
BHP Billiton CEO, Andrew Mackenzie, said the oversupply of commodities that was depressing prices would continue for some time.
KCM imports first copper from Chile
Konkola Copper Mines has imported its first semi-processed copper from Chile's Codelco in order to keep its Nchanga smelter operating at full capacity.
Lonmin cheaper than sinking new shaft
Lonmin was so cheap that it would be better to buy the company than sink a new platinum shaft, said analysts.
Anglogold in talks with Newmont on CC&V
The sale or partial divestiture of AngloGold Ashanti's Cripple Creek & Victor mine in Nevada could be to Newmont Mining in which it was in exclusive talks.