Mining Review reports Newcrest Mining CEO Greg Robinson told reporters on Friday it would acquire Harmony Gold Mining’s 50% stake in their massive Wafi-Golpu joint venture in Papua New Guinea if it was for sale. Last month Harmony Gold upgraded the resource estimate for Wafi-Golpu increasing it by 57% to over 1 billion metric tons, making it one of the highest grade copper-gold porphyry systems on the planet. Rumours about a possible sale by Harmony have been swirling for months and estimates of the value of the mine forecast to start production only in 2017 have bounced up and down with one investment bank pegging it at $9.9 billion.
Africa Mining News
UK mining junior Mwana Africa reports the company has achieved better than expected results at its Freda Rebecca gold project, in Zimbabwe, and its Zani Kodo gold project, in the Democratic Republic of Congo.
Police in Port Loko have confirmed that dozens of youths were arrested at the Sanda Magbolotor Port Loko district, including a Councillor and the driver of a Member of Parliament as a result of a massive riot perpetrated by the youths few days ago following the discovery of iron ore deposits in a village in Port Loko.
"Shouldn't we at least find out what's in our own backyard before we make any decisions?" asked Maarten de Wit, head of earth stewardship science and the Africa Earth Observatory Network at the Nelson Mandela Metropolitan University. The South Africa government has placed a moratorium on fracking, pending the outcome of an investigation into the process and consultation with the public
China, the world's largest consumer of iron ore, aims to develop and control resources, especially in west Africa, to gain a foothold on supply and tackle the hegemony of three iron ore suppliers – Rio Tinto , BHP Billiton and Vale. Chinese firms have signed a number of iron ore deals in Africa, which at their peak could contribute nearly 250 million tonnes of iron ore when they come on stream in the medium to long term.
9:36am BST JOHANNESBURG, Aug 18 (Reuters) - South African diversified miner Exxaro said on Thursday that it expects production difficulties to keep coal output in the second half unchanged compared to the previous six months. South Africa's
JOHANNESBURG -(Dow Jones)- AngloGold Ashanti Ltd. (AU), Africa's largest producer of the precious metal, Thursday reported a fatality at its Mponeng Mine in South Africa overnight and halted some work in the area to carry out an investigation. AngloGold
A day after news of an onerous new mining royalty and taxation regime in Peru, Namibia, the world’s biggest miner of offshore diamonds and a top four uranium producer, drops plans for a huge jump in the corporate tax rate for miners and mineral export levies. Deputy Finance Minister Calle Schlettwein said on Wednesday, the country has withdrawn a proposal to increase the tax on non-diamond miners to 44% from 37.5% and will instead propose a windfall tax when international prices for the commodities are high. Namibia was one of 25 countries around the world that recently announced their intentions to increase their take of the mining industry’s profits or impose ownership and other restrictions.
Midnight Sun Mining announced that it has entered into an agreement dated July 28, 2011 (the "Agreement") with Logwood Investments Inc., a closely held Namibian Corporation at arms length to the Company (the "Optionor"), whereby the Company has acquired the option (the "Option") to earn a 60% interest in certain mineral properties in Namibia (the "Properties").
The world's last substantial untapped coal reserve is set to change forever as the first shipment of coal mined in Moatize arrives by train at the port of Beira this month which is destined for export to Brazil, India, Japan and the South African markets.
AngloGold Ashanti (ANG), the world's third largest gold producer, is in trouble with a human rights group in Ghana after the shooting of a civilian by private security at its Obuasi Mine.
An Obusai Magistrate Court has remanded John Frank Kojo Essien, the director of Ghanatta Security Services, in police custody for allegedly shooting to death an illegal miner at the South Tailings Storage Facility Dam of AngloGold Ashanti (AGA) in Obuasi.
South Africa's junior coal miners, some of them tiny producers, face intense pressure to consolidate, but the varying quality of their deposits and what are often poor locations will prevent many tie-ups and may force some to
Bloomberg reports the proposed expansion by South Africa's Royal Bafokeng Platinum follows an increase in demand for platinum which has gained 19% in the past 12 months to $1,818/oz. Steve Phiri, RB Platinum CEO said demand is likely to exceed supply in the next three years, while a shortage of palladium, typically mined along with platinum, may rise to 1 million ounces in 2014. South Africa produces more than three-quarters of global supply.
Stellar is granted an exploration authorization for the Namarana area covering 132 km(2) in Mali, West Africa
Stellar Pacific Ventures announced that it was awarded by the Ministry of Mines of the Republic of Mali, an exploration authorization for the Namarana area which covers over 132 km2. This mineral title was delivered July 22, 2011 to Stellar Pacific Mail SARL, the company's wholly owned (100%) subsidiary in Mali.
DRC gold mine on track for Q4 production – Banro New York- and Toronto-listed Banro on Monday said its Twangiza gold project is on track to become the first new commercial gold mine in the Democratic Republic of Congo (DRC) in more than 50 years, with
Anvil Mining is planning to start commercial production of copper at its newly constructed plant at the Kinsevere copper mine in the Democratic Republic of Congo (DRC) in the current quarter. The new plant is expected to triple Anvil Mining's annual
Petra Diamonds is pleased to announce that Ministerial consent in terms of Section 11 of the Mineral and Petroleum Resources Development Act, 2002 (“MPRDA”) has been granted for the cession and transfer of the new order mining right for the Finsch diamond mine in South Africa (“Finsch”) from De Beers Consolidated Mines Limited (“De Beers”) to Afropean Diamonds (Pty) Limited (”Afropean”). Afropean represents Petra’s interests in Finsch; Afropean being owned as to Petra 74% and Petra’s Black Economic Empowerment partners 26%.
Mwana Africa ( LON:MWA ) has raised US$6 million to fund its efforts to ramp up production at the Freda Rebecca gold mine in Zimbabwe and take advantage of record high gold prices. The AIM quoted diversified mining company raised the funds by drawing
High River Gold Mines on Monday reported its financial results and operational highlights for the three month period ended June 30, 2011 showing net gold revenue of $136.2 million, an increase of 11% from $122.4 million in Q1 2011, an increase of 20% from $113.8 million in Q2 2010. Net income of $41.4 million ($0.05 per share) compared to a net income of $37.3 million ($0.04 per share) in Q1 2011 and a net income of $37.5 million ($0.05 per share) in Q2 2010.
Shares in Organic Potash Corporation commenced trading on the Canadian National Stock Exchange on Monday under the symbol "GOP". Organic Potash Corporation's focus is on the production of potash from the ash of agricultural waste – specifically cocoa husks – at a facility being constructed in Ghana with a 40,000 tonnes annual capacity.
Anvil Mining Ltd expects to reach design capacity of 5,000t/month of copper cathode production in the December quarter this year. In the June-quarter results announcement the company said the Kinsevere Stage II SX-EW plant in the Democratic Republic of the Congo (DRC) was “essentially complete” having produced 2,023t and 3,173t in June and July, respectively.
Platmin Limited announced production results from the Pilanesberg Platinum Mine and financial results for the quarter and half-year endedJune 30, 2011. Sales revenue for the quarter-ended June 30, 2011 was US$34.5 million, an increase of approximately 130% compared with US$15.0 million recorded in the prior corresponding period; and for the half-year ended June 30, 2011 - US$60.5 million, an increase of approximately 80% compared with the prior corresponding period. Sales of 4E PGM ounces for the June 2011 month was 9,258oz or about 110 000oz annualized;
[miningmx.com] -- THE riots that took place at platinum junior Platmin on June 23 could delay the projected ramp-up to full production from the Pilanesberg Platinum mine (PPM) by three to six months. Previous guidance from Platmin CEO Tom Dale was that
Africa’s future is bright. Africa is moving decisively out of recession, and looks set to renew its pre-recession average growth rate of six per cent (African Economic Outlook 2010 and Travel & Tourism Competitiveness Report 2011) due to a move towards market friendly economic framework conditions that have helped to nurture growth (InsightGroup 2011).