Mining

Newmont, Mineworkers Union resume negotiations

Newmont Ghana and the Ghana Mineworkers Union (GMWU) today March,19,2015 announced they have resumed negotiations on their salary and collective agreements. The parties’ decision to return to the negotiating table follows the GMWU’s recent threat to strike and the company’s subsequent appeal to resume good-faith dialogue. “We recognise that embarking on a strike will not be in the best interest ...

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Newmont urges workers to abandon strike plans

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Mining giant Newmont has urged its workers to abandon plans to go on strike over poor conditions of service. Over two thousand workers of Newmont have threatened to strike on Friday,March, 20th, 2015 if a meaningful response from the mining firm on ongoing negotiations is not received. Negotiations for better pay between the two have been ongoing for over eight ...

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Newmont workers threaten to strike over stalled negotiations

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Over two thousand workers of mining giant Newmont have threatened to strike on Friday if a meaningful response from the mining firm on ongoing negotiations is not received. Negotiations for better pay between the two have been ongoing for over eight months. The miners want the huge disparity in pay levels in the industry to be addressed. They are also ...

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Kwame Addo-Kufuor moves to Newmont

Citi Business News can confirm that the former Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has moved to another mining firm, Newmont. According to a statement from Newmont, Kwame Addo – Kufuor has been appointed as the Regional Chief Financial Officer for Newmont Africa. ‘Newmont Africa has announced the appointment of Kwame Addo-Kufuor to its Africa ...

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Kwame Addo Kufuor leaves AngloGold

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Citi Business News can confirm the Vice President of Corporate Affairs of AngloGold Ashanti (Ghana) Kwame Addo-Kufuor has resigned. It is unclear where he will be heading to but a statement from the mining giant said Kwame Addo-Kufuor has moved on to pursue other interests. Kwame Addo-Kufuor has been with AngloGold for 18 years. In his absence Fred Attakumah, Managing ...

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AngloGold’s assets up for sale

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In bid to reduce its debt by about $1bn, the JSE-listed and the world’s third biggest gold miner, AngloGold Ashanti, this week confirmed that some of its assets were up for sale. It did not name these assets but it said many interested parties had been in touch with it regarding these assets. Srinivasan Venkatakrishnan, the CEO of AngloGold Ashanti, ...

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Gold Fields earnings fall on gold price dip

Bullion producer Gold Fields reported a decline in fourth quarter earnings of 2014 on the back of softer global gold prices. Normalized earnings per share dropped to 2 US cents per share in the three months to end-December, 2014 compared to 3 US cents in the previous quarter. The price of gold has fallen about 6 percent since February 2014 ...

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Mining companies will not sell mines over ‘dumsor’-Minerals Commission

The Minerals Commission has downplayed reports that some mining companies have begun moves to sell off their gold mines in the wake of the worsening power crises and falling gold prices on the world market. Mining Companies are currently shedding about 30 percent of power from an initial 25 percent agreed on; a situation which has increased expenditure with the ...

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Ghana in talks with UNDP to reform mining sector

Ghana is currently in talks with the United Nations Development Program (UNDP) as part of efforts to establish a Country Mining Vision-CMV for the mining sector The Country Mining Vision forms parts of work being done by the African Mineral Development Centre working with AU states to implement a mining vision for the continent to ensure some level of development ...

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Lands Minister working to secure more power for mining companies

The Minister for Lands and Natural Resource is currently in talks with the Power Ministry to address the challenges facing mining companies in the wake of the worsening power crises. Several mining companies such as AngloGold Ashanti, Golden Star Resources, Newmont among others were roped into the ongoing load shedding exercise last year which is crippling their operations The situation ...

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