Gold Fields to buy Osisko in US$1.6B cash deal
South Africa’s Gold Fields (NYSE: GFI; JSE: GFI) is buying Canada’s Osisko Mining (TSX: OSK) in a deal valued at $2.1 billion (US$1.6 billion) as record-breaking prices for the precious…
Africa
Lucara sales offer hope to struggling diamond sector
Lucara Diamond (TSX: LUC) saw its sales and earnings climb in the second quarter of the year, supported mainly by its recently revived supply deal with Belgium’s HB Antwerp, which…
Iamgold soars on Q2 production, cost beat
Iamgold (TSX: IMG; NYSE: IAG) reported strong results for the second quarter of 2024, surpassing its production and cost targets, and lifting its stock price as much as 17% on…
Video: World Gold Council sees market uncertainty raising metal’s price
Despite gold’s strong performance in the year’s first half, Western investors largely remained on the sidelines, Joe Cavatoni, senior market strategist for the World Gold Council, said in an interview….
Glencore scraps coal exit plan on investors’ pressure
Glencore (LSE: GLEN) followed shareholder opposition and scrapped on Wednesday plans to separate its coal division, which it had announced following its acquisition of assets last year from Teck Resources…
Glencore to pay US$152M in bribery case
Commodities giant was fined by Swiss authorities for not preventing a business partner from bribing a Congolese official in 2011.
Petra defers another diamond tender amid weak demand
Petra Diamonds (LSE: PDL) has again postponed the sale of rough stones, holding on to the diamonds from its South African operations that would have been offered during the August/September…
Video: Mining faces cash crunch following decades of neglect, Grosskopf says
Undervaluation remains a persistent issue for mining companies, particularly juniors, compared to other sectors like technology and biotech, SCP Resource Finance chairman Peter Grosskopf said in an interview this month….
Video: ‘Big bang’ in commodity demand set to lift miners, Prins says
Global miners are set to benefit from rising needs for “real assets,” Nomi Prins, a macroeconomist and author of the newsletter PrInsights Global, says in a new interview. Global geopolitical…
Lucapa recovers 176-carat diamond in Angola
Lucapa Diamond (ASX: LOM) announced Monday the recovery of the fifth stone larger than 100 carats found this year, a 176-carat Type IIa diamond from the Lulo alluvial mine in…
Gemfields auction revenue falls as market softens
Coloured gemstones miner Gemfields (LSE: GEM; JSE: GML) fetched US$121 million in revenue from auctions in the six-month period to June 30, a 17% decline from a year ago as…
Sibanye delays results release as it recovers from cyberattack
Sibanye-Stillwater (JSE: SSW, NYSE: SBSW) will delay the release of its operating and financial results for the period ended June 30 after recent disruptions to its IT systems. On July…