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Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • What happens when China's steel curbs end? Here's BHP's take
    Steelmakers in China are about to get back to business full-time. When unprecedented winter supply curbs lapse in the coming weeks, BHP Billiton forecasts mills in the top producer will step up output, boosting run rates through the second quarter to make up for curtailments. The resumption will be gradual as provinces step back from curbs designed to fight air pollution, according to chief commercial officer Arnoud Balhuizen, who presented the outlook from the world’s largest miner for commodities including iron ore and steel. At present, the restrictions are set to ease from mid-March.
  • Newmont maintains steady reserve base as resources grow
    NYSE-listed US gold major Newmont Mining has replaced all the gold reserves it unearthed in 2017 and managed to grow its global resource base too, it announced on Wednesday. Gold reserves now total 68.5-million ounces for 2017, unchanged from 2016 as additions and revisions fully replaced depletion, the Denver, Colorado-based miner advised.
  • Lucara's FY2017 profit dips 8% on lower sales
    Southern Africa-focused miner Lucara Diamond Corp has reported an 8% drop in full-year profit as lower production and the sale of fewer special diamonds weighed on the bottom line. The Vancouver-based miner, which operates its flagship Karowe mine, in Botswana, reported net income of $65.1-million, or $0.17 a share, for 2017, down from $70.7-million, or $0.19 a share, in 2016.