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Bergbau News

06.11.2019

Malaysia to issue licenses by January for the restart of bauxite mining and exporting

According to a Reuters report, Malaysia will issue bauxite mining licenses to companies in December or January, which will allow the miners to resume activities after the ban in early 2016 over unregulated mining and water contamination. The news came after Xavier Jayakumar, Malaysia’s water, land and natural resources minister announced this in a parliament.

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23.10.2019

Barrick Gold partners with Tanzania to create Twiga Minerals

After making headlines earlier this year following its mega merger with Randgold Resources, international gold miner Barrick Gold has entered into a new deal, this time with the government of Tanzania. The deal was born out of an agreement to settle all disputes between the government of Tanzania and several companies that were previously owned by Acacia Mining. Barrick now manages the assets once controlled by Acacia, which was delisted from trading in mid-September. The partnership between Barrick and the government will converge in a new operating company, dubbed Twiga Minerals; Twiga is the Swahili word for giraffe. The newly established Twiga will manage the Bulyanhulu, North Mara and Buzwagi mines. For its part, the government will acquire a free carried shareholding of 16 % in each of the mines and will receive half of the economic benefits from taxes, royalties, clearing fees and participation in all cash distributions made by the mines and Twiga.

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