In another blow to the South African mining industry, AngloGold Ashanti ‒ the world's third-largest bullion producer ‒ is set to also shed jobs as it prepares to roll out its mechanisation programme.
Glencore Xstrata plc, the biggest exporter of coal for power stations, says its first-quarter copper production has risen 18% as a result of gains at its mines in Africa.
AngloGold Ashanti ‒ the world's third-largest bullion producer ‒ reported a near six-fold jump in first-quarter earnings as the company’s operations recovered from a wave of illegal strikes late last year.
The Chamber of Mines of Zimbabwe (CMZ) holds its annual general meeting this week as the country’s focus shifts to the capital intensive sector ahead of the forthcoming general elections.
Gold producers are likely to scale back exploration programmes as lower prices spur cost cuts, according to the head of Endeavour Mining Corporation.
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