London-listed mining and commodities giant Glencore Xstrata dove deep into the red last year, reporting a massive net loss of US$7.4 billion, compared with a profit of $1 billion in 2012, after booking massive write downs related to its merger.
A new treaty could be used to police the expected rise in deep-sea mining. It could also ensure that gains from marine genetic resources are fairly shared. Capacity building is needed to help developing nations exploit their resources. London-listed Nautilus and Canadian company Neptune, in which Anglo American is a major shareholder, are among deep sea mining's front-runners.
London-listed African Barrick has been running a project level grievance mechanism for victims of violence and rape at its North Mara mine in Tanzania. While there is little public information about the program, a legal waiver has surfaced in the context of an ongoing law suit by Leigh Day.
As the purported end of the Marikana Commission and the 2014 elections head for a flashy collision, it is clear that there is no chance that the commission will complete its work by April. Expect that it be extended, again. Despite this, the inquiry is making some startling revelations.
Lonmin e-mails are revealing for the cynicism that appeared to infect the company's approach to internal transformation, the distribution of responsibilities among black management and the question of who was kept in or out of the various internal information loops about the wild-cat rock-drill operators' strike in 2012.
Vedanta Resources Plc's Konkola Copper Mines Plc unit has removed "a lot of money" from Zambia and wants the government to assume its liabilities that exceed $1.5 billion, said the nation's Vice President Guy Scott. "This is a matter of national importance," said Scott. "It's a matter concerned with billions and billions of dollars, tens of billions of kwacha, that we stand to lose if we don't stand together and show that we won't be taken for a ride."
Nautilus Minerals Limited, which is currently operating the world’s first Sea Bed Mining in Papua New Guinea, has announced it is terminating its agreement with the State of PNG. Its major shareholders include global mining group Anglo American, which holds a 5.95% interest.