S Africa power cuts halt mining
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South Africa's biggest gold and platinum mining firms suspend production because of recent power cuts.
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South Africa was set Monday to ration electricity in a bid to stem a spiralling crisis which has dealt a severe blow to its status as the continent's economic powerhouse.
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Nevsun Resources Ltd. shares plunged as much as 51 percent after the Canadian gold miner said the government of Eritrea ordered it to halt mineral exploration and prospecting in the country.
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Platinum, used in jewellery and auto catalysts, jumped to another record high above $2,000 an ounce on Monday, on lingering power supply which disrupted mining in main producer South Africa.
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South Africa announced Sunday that it will temporarily stop exporting power to its neighbors.
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DENVER Newmont Mining Corporation temporarily shut down a mine in Peru today after a two-week blockade of a road to the mine and thousands of workers protesting in the streets over concerns of the effects of new mining operations on water supplies.
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South Africa is sitting on gold, platinum and other minerals that are selling at record prices on world markets, yet its economy is, quite literally, underpowered.
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PetrÃ³leo Brasileiro, the Brazilian energy company known as Petrobras, canceled a meeting of its executives and Bolivian government officials after Bolivia took steps this week to take over the companyÂs oil operations in the country. Petrobras said the Bolivian measures, which included the takeover of two refineries, the only ones in Bolivia, and its distribution system, would render its Bolivian operations Âunviable.Â The meeting had been scheduled for Friday.
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Ongoing drought in east Africa has forced Tanzania to impose power cuts seven days a week, the energy minister said Friday.
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CAPE TOWN -- The South African government has seized a 600,000-acre game and cattle farm from the Lutheran Evangelical Church of Southern Africa, and will divide the land among poor rural communities, ministers said yesterday.
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Nationwide power outages shut down basic services across Zambia and Zimbabwe as anger mounted in South Africa over power cuts that have wreaked havoc in the continent's economic hub.
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Sharp falls in Anglo American and miner Gold Fields pushed South Africa&#39;s benchmark JSE Top-40 index 1.7 percent lower on Monday.
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President Robert Mugabe of Zimbabwe, below, said he plans to take control of the nationâs diamond mines in response to allegations of smuggling and a diamond rush in the eastern district of Marange. Zimbabwe has two diamond mines, one known as Murowa, owned by Rio Tinto and RioZim, and the other as River Ranch, which is held by private investors. âOnly government will mine diamonds,â Mr. Mugabe said in a televised interview on Tuesday. It is unclear whether Mr. Mugabeâs pronouncement will be made law, said David Murangari, chief executive of the Chamber of Mines, a business association that represents most mining companies in the country. Andrew Cranswick, chief executive of African Consolidated Resources, criticized the measure. âIf the state takeover of diamond mines is passed into law, it will destroy diamond exploration in this country,â he said.
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Israel's attorney general has temporarily halted the government's plan to cut back on electricity to the Gaza Strip, demanding more work to prevent humanitarian harm
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"As a result of the Ministry of Environment's unjustifiable actions, it appears that Gabriel's target to receive EIA (environmental) approval during the summer of 2007 will not be met"  The Romanian government has suspended a plan by Canada's Gabriel Resources Ltd. to create a gold mine on the country's northwestern region, saying it lacks necessary documentation. via CBC News
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South African government tells millions left in the dark by rolling power cuts likely to go on for years to look on the bright side
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Smangele Mngomezulu worked for 15 years at South African mining giant Anglo American, but apartheid-era laws banned her from donning a hard hat and shoveling ore.