Market News

According to Reuters, Petra Diamonds Ltd and South African’s Ekapa Minerals would buy De Beers’ Kimberley mines for 102 million rand ($7.1 million). In last May, De Beers announced that it put the mining operations in Kimberley on sale. Kimberley mines is located in the Northern Cape . . .

Liberty Metals & Mining Holdings, LLC, a subsidiary of Boston-based Liberty Mutual Insurance (LMM), has acquired 25 percent of the shares in “Yara Dallol” for USD 51.25 million. Yara’s share of the proceeds is USD 35.4 million. Yara Dallol is a project looking at extracting p . . .

Khartoum — The Ministry of Minerals signed three franchise agreements with national and foreign companies to operate in gold mining and other minerals.   The Minister of Minerals Dr. Ahmed Mohamed Sadiq Al-Karuri signed, on behalf of the government of Sudan, a concession agreement with . . .

Nyota Minerals Ltd Monday said there is an opportunity “now more than ever” to acquire new projects and to pounce on opportunities that can generate near-term revenue and said it is considering investing in other sectors and potentially spinning off its mineral business in the future. . . .

Rio Tinto has given a go-ahead to a $1,9 billion project to build an Australian bauxite mine, defying a deepening commodities downturn. The investment is the largest that Rio has approved for more than two years, a period when global miners have slammed the brakes on spending following a surge in ca . . .