Africa & Middle East

Turquoise Hill Resources announces that Oyu Tolgoi LLC has signed a US$4.4 billion project finance facility, one of the mining industry’s largest, to enable development of the Oyu Tolgoi (OT) underground project in Mongolia to resume. The facility is being provided by a syndicate of international financial institutions and export…
On December 7 the Specialised Interdistrict Economic Court of the Akmola Oblast in Kazakhstan ordered that Alhambra Resources’ wholly-owned Kazakhstan subsidiary Saga Creek Gold Company JV LLP be declared bankrupt. As a matter of Kazakh law, the Bankruptcy Order came into legal effect immediately on December 7, 2015, and a…
The signing of a landmark US$4.4 billion project financing agreement for the Oyu Tolgoi underground mine is a global vote of confidence in Mongolia that reopens the doors to the leading global banks for Mongolian projects, according to the country’s Prime Minister Saikhanbileg. In a press statement the government said,…
More than 400 jobs to go at South32 manganese mine in South AfricaSouth32’s Hotazel Manganese Mines (HMM) are located in the manganese rich Kalahari Basin in the Northern Cape South Africa. The region is home to 80% of the world’s manganese ore body.  Shares in BHP Billiton spin-off South32 (ASX:S32)…
Anglo American to cut 85,000 jobs, dividend and assets in sweeping restructuringAnglo American's overhaul reflects the dire straits the global mining industry is in these days. Shares in Anglo American (LON:AAL) nosedived Tuesday after the miner announced drastic measures meant to cope with an ongoing rout in commodities prices, including…
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