Miningmx
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Independent news/analysis on the African mining sector.
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News•Feb 27, 2026
Petra Diamonds Warns Rand Strength a “Major Headwind”
Petra Diamonds reported a $6 million operational cash outflow and a net loss of $188 million for the six months to December, driven by lower sales and a strengthening South African rand. Average realised prices held at $104 per carat, above last year’s $87, but smaller‑stone prices fell about 20% year‑on‑year. The company extended R1.75 billion of senior debt to 2029 and launched a $25 million rights offer as part of a second recent recapitalisation. Inventory rose to 608,217 carats, valued at $46 million, underscoring inventory pressure amid weak market conditions.
By Miningmx
News•Feb 26, 2026
Cockerill’s 20-Bagger: Why Discovery Gives Endeavour Edge
Endeavour Mining, under new CEO Ian Cockerill, has emerged from a turbulent 2024 marked by a CEO exit and operational setbacks. The company hit a turning point by pouring first gold at the Lafigué mine in Côte d’Ivoire and completing...
By Miningmx
News•Feb 26, 2026
Waste Not, Want Not: DRDGold’s R2.7bn Bonanza
DRDGold has surged from a marginal waste‑dump miner to a R47.6bn market‑cap company, driven by soaring gold prices and a shift to unhedged cash flow. In the six months to December 2025 the firm posted R2.7bn operating profit on R5bn...
By Miningmx
News•Feb 25, 2026
SA Mining Baffled as Godongwana Fails to Address Energy Tariffs
South Africa’s Minerals Council criticised the 2024 budget for omitting any reduction in electricity tariffs for the ferroalloys sector, despite industrial power costs soaring over 900% since 2008. The omission threatens the ferrochrome industry, which supports more than 20,000 jobs,...
By Miningmx
News•Feb 25, 2026
Zambia to Build ‘Rainy Day’ Fund While Metals Surge
Zambia will establish a “rainy day” stabilisation fund to lock away surplus copper revenues as production hits record levels and prices hover near historic highs. The Treasury plans to finalise the fund’s framework this year before beginning deposits, using the...
By Miningmx
News•Feb 25, 2026
Valterra Spritzes up Maiden Year with R5.3bn Special Dividend
Valterra Platinum announced a R5.3bn special dividend, bringing its total payout for the 2025 financial year to R45 per share, equivalent to 71% of headline earnings. The payout follows an 89% rise in platinum‑group‑metal prices in the second half of...
By Miningmx
News•Feb 25, 2026
SA Bank Says Gold to End Above $6,000/Oz This Year
Standard Bank’s African Markets Conference highlighted a bullish outlook for gold, with its head of precious metals projecting the metal to finish the year above $6,000 per ounce and potentially reach $7,000‑$10,000 next year if interest rates keep falling. Attendees...
By Miningmx
News•Feb 24, 2026
DRC Replaces Top Officials at State Mining Company
The Democratic Republic of Congo’s president has replaced Gecamines’ chairman and CEO, appointing former justice minister Deogratias Ngele Masudi as chairman and EY mining partner Baraka Kabemba as chief executive. Gecamines, a state‑owned miner with minority stakes in copper‑cobalt projects...
By Miningmx
News•Feb 24, 2026
ICCM Says Government Policy Has Tightened the Metals Cycle
The International Council on Mining & Metals (ICMM) warned that heightened government oversight is tightening the global metals cycle, curbing the explosive price spikes typical of past supercycles. In its 2025 Tax Contribution Report, ICMM members paid $37 billion in taxes...
By Miningmx
News•Feb 23, 2026
DRDGold Moots Plan to Buy Sasol’s Cyanide Facility
DRDGOLD CEO Niël Pretorius warned that South Africa’s sole cyanide producer, Sasol, is scaling back sodium cyanide output, creating a looming supply gap for gold miners. He suggested a consortium of local gold producers purchase the plant and partner with...
By Miningmx
News•Feb 23, 2026
B2Gold Founder Johnson to Retire as CEO
B2Gold announced that founder and long‑time chief executive Clive Johnson will retire at the June 4 annual general meeting, handing the reins to chief financial officer Mike Cinnamond. Johnson will become Chair Emeritus, while board chair Kelvin Dushnisky shifts to an...
By Miningmx
News•Feb 23, 2026
Lebanon Gold Sale Mooted to End Financial Crisis
Lebanese officials are debating selling or leasing part of the country’s 280‑ton gold reserves, now worth roughly $45 billion after a 70 % price surge. The gold, the largest Middle‑East reserve after Saudi Arabia, could fund a financial‑gap law essential for an...
By Miningmx
News•Feb 23, 2026
Behind the Boardroom Coup at Copper 360
Copper 360, the JSE‑listed pure‑play copper miner, announced a boardroom shake‑up as CEO Graham Briggs and CFO Stephan Du Plessis were placed on leave, with COO Gordon Thompson acting as CEO. The move follows a costly R1.15 billion recapitalisation that tripled the...
By Miningmx
News•Feb 20, 2026
Anglo Takes $2.3bn Hit on De Beers as Gem Destock Continues
Anglo American reported a 66% plunge in basic underlying earnings per share, driven by a $511 million EBITDA loss at De Beers and a $2.3 billion impairment on its stake. The loss stemmed largely from "stock balancing initiatives" that forced the company to...
By Miningmx
News•Feb 19, 2026
Gold Fields ‘Guinea Pig’ in Ghana Royalty Talks
Gold Fields has boosted its Tarkwa mine reserves by 70%, raising them to 7.4 million ounces and resources to 11.2 million ounces as it prepares for a lease renewal due in April 2027. The company is navigating Ghana’s new sliding...
By Miningmx