It appears likely that Harmony Gold Mining Company Limited will write-down of a portion of the carrying value of its Hidden Valley operation in Papua New Guinea, due to its recent poor performance and the reduction in the US dollar gold and silver prices.
Sibanye Gold Limited, which mines all of its metal in South Africa, says it will trim US$31 million of annual costs in addition to plans set out before its spinoff from Gold Fields Limited in February.
Africa’s oil and gas industry is poised for momentous growth despite regulatory and political challenges‚ according to the latest PricewaterhouseCoopers (PwC) report released here today.
Statoil Oil & Gas Mozambique is concluding drilling at the Cachalote 1 well, in area 2 of the Rovuma basin in northern Mozambique, and says it may contain 200 million barrels of commercially-viable oil.
Major foreign investors have played a significant role in the growth of the Tanzanian mining industry which is expected to double in value from US$64 million in 2010 to US$1.28 billion in 2015.
After years of on-off talks, months of brinksmanship and often bitter negotiations, Glencore's head Ivan Glasenberg gets to complete the US$30 billion acquisition of Xstrata today ‒ the mining industry's biggest takeover yet.
