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Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • Barrick Gold cuts 2017 compensation for top two executives
    Barrick Gold, the world's largest producer of bullion, cut the 2017 compensation for its top two executives to reflect a challenging "shareholder experience" and operations at some mines. Shares in the Canadian miner declined 15% last year, even as the price of gold gained 11%. In 2017 Barrick had a third cyanide spill in 18 months at its Veladero mine, in Argentina, and struggled under an export ban for its Acacia Mining unit, in Tanzania, that is still not resolved.
  • Congo mines minister rejects industry proposal to retain exemptions
    Democratic Republic of Congo's mines minister rejected a proposal by mining companies on Friday to retain exemptions and scrap some taxes in exchange for higher royalties than those in a new mining code, calling the taxes "untouchable". Mines Minister Martin Kabwelulu was reacting to a proposal from mining companies under which the companies would accept higher royalty payments if the government agreed to respect ten-year exemptions for existing projects from changes to the fiscal and customs regimes and cancel certain taxes.
  • Lonmin hands over New Marikana primary school to Basic Education dept
    Platinum group metals miner Lonmin on Friday handed the New Marikana primary school over to the North West Department of Education and Sport Development, in Rustenburg, and the Marikana community.