Mineweb reported that Barrick Gold Corp. (TSX:ABX,NYSE:ABX) has sold 13.5 percent of its holdings in African Barrick Gold plc (LSE:ABG) to institutional investors. Previously, the company had tried to sell all of its African Barrick stake.
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In the first quarter of 2014, AngloGold Ashanti began mining with a new technology, reef boring.
Mining Weekly reported yesterday that Sibanye Gold Ltd. (NYSE:SBGL) has not experienced any production losses since South Africa’s Eskom requested that the company reduce its power consumption by 10 percent.
Bloomberg reported yesterday that Epangelo Mining Co., Namibia’s state-owned mining company, is speaking with privately owned QKR Corp. about purchasing a stake in the Navachab gold mine. QKR agreed to buy Navachab from AngloGold Ashanti Ltd. (NYSE:AU) just this month.
Reuters reported that Newmont Mining Corp. (NYSE:NEM) intends to cut as many as 600 jobs at its Ghana-based gold mine by this June. Its reasons for doing so include an “ageing facility and slumping gold prices.”
Rocmec Mining Inc. (TSXV:RMI) entered into an exclusive distribution agreement with MaXem Equipment of South Africa for the distribution and usage of its patented Thermal Fragmentation mining method. Under the agreement, MaXem is granted exclusive rights for the distribution, deployment and usage of Rocmec’s patented Thermal Fragmentation mining method in the Southern portion of Africa.
In an interview with Mining Weekly, Neal Froneman, CEO of Sibanye Gold Ltd. (NYSE:SBGL), said that illegal gold mining has become such an issue in South Africa that it might be a good idea to let the South African National Defence Force handle it.
Reuters reported that Mali’s government has started reviewing mining research and exploration licenses signed by previous governments. The plan is to cancel the contracts of companies found not to be in compliance.
Alpha Exploration (TSXV:AEX) is a junior mineral exploration company with strategically selected uranium and gold properties in North America.
AngloGold Ashanti Ltd. (NYSE:AU,ASX:AGG) announced on Monday that it has signed a binding agreement to sell its subsidiary, AngloGold Ashanti Namibia (Proprietary) Ltd., to a QKR Corporation Ltd. subsidiary. AngloGold Ashanti Namibia owns the Navachab gold mine.