News

NYSE- and Aim-listed Caledonia Mining Corporation reported a 16% year-on-year improvement in gross profit to $54.1-million for the year ended December 31, 2021, a year which CEO Steve Curtis said marked a turning point for the company. Adjusted earnings a share amounted to 226c, against adjusted earnings a share of 204c in 2020. The company […]

China plans a massive increase in coal mining, a move that will dramatically reduce its reliance on imports and deal a blow to its near-term climate actions. The National Development and Reform Commission (NDRC), the nation’s top economic planner, told officials from major mining regions at a meeting late last week that it wants to […]

Guinea’s ruling junta has ordered a full halt of Rio Tinto’s (ASX, LON, NYSE: RIO) vast Simandou iron ore project in the country’s southeast, with interim president Mamady Doumbouya saying it is not clear how the mine will preserve national interests. The current government, who took power in a military coup in September, said in […]

US President Joe Biden has issued an executive order prohibiting the import of “nonindustrial” diamonds originating in Russia. The measures, which the White House announced on Friday, follow Russia’s continued war in Ukraine and build on earlier US sanctions outlawing debt and equity transactions with Alrosa and its CEO, Sergey Ivanov. Those previous rulings did […]

Tata Steel UK and British Steel have ended their reliance on Russia’s coal Coal is used to heat furnaces to 1,800C and is vital to steel-making processe Britain has imported 3m tons of coking coal from Russia over past four years Britain’s largest steel companies have halted imports of Russian coal as the West’s attempts […]

De Beers has extended its partnership with WomEng, a social enterprise that aims to expand female participation in the engineering and technology industry. “We have an ambitious commitment to achieve gender parity across our global workforce by 2030, and key to achieving this will be fostering greater diversity within the talent pipeline,” Katie Fergusson, De […]

Current US sanctions on Russia’s Alrosa will not reduce the supply of rough diamonds. India, where about 93% of the world’s diamonds are manufactured, will enable money transfers without using dollars, euros or the SWIFT system. Americans will continue to legally buy polished diamonds from Indian or other cutters who have sourced the rough from […]

Uranium spot prices surged to the highest level since the 2011 Fukushima nuclear disaster on concern potential sanctions aimed at Russia are poised to roil an already tight market. The price for benchmark Ux U3O8 uranium rose 11% to $59.75/lb on Thursday, according to data compiled by UxC. That’s the highest since March 2011, when […]