Africa Mining News

Ghana gold output, revenues rise in Q1

ACCRA Ghana gold production rose 14% for the first quarter of 2011 versus a year ago to 796 797 oz, and gold revenues during the same period soared 47% to $1.15-billion, the West African nation's chamber of mines said on Friday. Ghana is Africa's

Elenilto and Sesa Goa to invest $2.6bn for Western Cluster

Indian firm Sesa Goa and Elenilto Minerals & Mining are planning to invest more than $2.6bn in Liberian iron ore firm Western Cluster. Elenilto Minerals & Mining will invest $77m while Sesa Goa will acquire a 51% interest in Western Cluster for $90m.

Reserves grow at Husab

Estimated uranium reserves at the Husab uranium project in Namibia have increased by 37%, ensuring an operating life of over 20 years for Extract Resources Ltd's planned mine, the company has announced.

Gold Fields net earnings up 15% in the June quarter hitting US$186 million

Gold Fields, one of the world's top five gold producers, announced June quarter earnings that were up 15% to US$186 million, compared with US$158 million in the March quarter. During the same June quarter last year, Gold Fields made US$120 million. The company announced its quarterly results on Wednesday.

No nationalisation says Gold Fields

GOLD Fields CEO Nick Holland remains confident nationalisation of the mines would not happen in South Africa but conceded the intensifying debate was increasingly worrying international investors. He commented, “I get that feedback

S.Africa gold output down 5.7 pct y/y in June

South Africa's gold output fell 5.7 percent in volume terms in June while total mineral production fell 0.7 percent compared with the same month a year earlier, data showed on Thursday.

BBC: torture in Marange Diamond Fields

Stephane Chardon, the Chair of the Kimberley Process Certification Scheme's (KPCS) powerful Working Group on Monitoring (WGM), convened an emergency teleconference this week a day after the airing of BBC's Panorama investigative television program

Mine worker dead at AngloGold mine

A mine worker was killed and another injured in a seismic event that triggered a fall of ground at AngloGold Ashanti's Mponeng mine. ||| A mine worker was killed and another injured in a seismic event that triggered a fall of ground at AngloGold

Aquarius Platinum says core profit rose 40%

The platinum producer said Thursday a strong rand outweighed higher prices for precious metals and, while EBITDA rose to $203.2m for the year, it reported a net loss on the back of a $159.8m impairment charge.

Exxaro’s Tshikondeni Coal Implements Gemcom InSite Mine Production Management Solution

Gemcom Software International Inc., the largest global supplier of mining software solutions, said Exxaro’s Tshikondeni Coal has implemented Gemcom InSite™ as its mine production management solution. Exxaro Resources (JSE: EXX) is a South-African based mining group with operations in Namibia, Australia, China and South Africa.

Mintec opening UK office for Europe, North Africa and Central Asia

Arizona-based Mintec will broaden the global reach of its MineSight software by opening a London office October 1. Five technical staff will support and train Mintec’s clients in Europe, North Africa, and Central Asia.

Lucara litigation update: Judge dismisses claims against African Diamonds

As has previously been reported by Lucara Diamond, in April 2010, legal proceedings were initiated against African Diamonds Plc, Lucara's wholly-owned subsidiary, by two former directors of African Diamonds claiming entitlement to a 3% royalty on production from the AK6 diamond project. The claim was heard in the Botswana High Court in early June, 2011. The High Court delivered its ruling today, dismissing the claims against African Diamonds, with costs awarded against the plaintiffs. The plaintiffs have 30 days to seek to appeal the ruling.

Rare earth company in Kenya faces protests

NTVKenya reports that a rare earth company in Kenya is facing angry opposition from residents who want the company to stop exploration work. The project is located on the south coast, 85 kilometers from Mombasa. The exploration license was issued to Cortec Mining Kenya, a South African company that was incorporated in Kenya last year.

Big concern over Namibia's mining tax plans

THE Namibian governments proposals for additional taxes on mining could shake the foundations of the countrys industry, according to industry players in the southern African state. One of the proposed amendments to tax legislation announced by the

Gem Diamonds to hand over 4 boreholes to GKGR residents

Gem Diamonds Ltd: * To hand over 4 boreholes to residents of the central kalahari game reserve to provide them with water

Zambia Y1 copper output rose 4 pct – Central Bank

Zambia's copper output in the first half of the year rose by 4%, driven by improved production at mines in the Copperbelt and North-Western provinces, the Central Bank of Zambia said Tuesday.

First Quantum profit up by 51%

First Quantum announced a 51% increase in gross profit as the 41% higher net realized copper price more than offset the lower sales volume. There was a 3% decrease in copper production from the Kansanshi and Guelb Moghrein mines due to maintenance-related downtime at both operations and the processing of low-grade, high acid consuming oxide ore at Kansanshi.

Vale: 1st Mozambique Coal Shipment Reached Beira Port Monday

Brazilian mining titan Vale SA (VALE) said Tuesday the first coal train arrived Monday at the Mozambican port of Beira. The first train carried 2,200 metric tons of coal from Vale's Moatize coal mine in the northwest province of Tete.

Mugabe threatens western firms in Heroes Day speech

As the country marked Heroes Day, Robert Mugabe used the occasion to make fresh threats to punish foreign owned companies from Western countries that have imposed targeted sanctions on him and his key ZANU PF officials. The US and European Union slapped the sanctions on Mugabe and his cronies because of human rights abuses.

Australian firm Ludowici buys Meshcape

ASX-listed global mineral processing equipment manufacturer Ludowici has acquired South African screening media manufacturer Meshcape, in a move to accelerate its expansion into new markets in Africa, Ludowici Africa GM Fanie Swart said on Monday.

We’ve only just begun: China’s influence on African mining development

ANALYSIS – ProspectingJournal.com – Chinese firm Sichuan Hanlong recently made a big statement with its $1.5 billion takeover bid for Australia’s Sundance Resources [SDL – AX]. However, this statement wasn’t directed towards mining in Australia, […]

Harmony Gold Mining : Settlement of US Class Action

Harmony Gold Mining Company Limited (Harmony) is pleased to announce that it has reached a mutually acceptable settlement with the lead plaintiff in the class action filed against it in the United States (US) District Court for the Southern District of New York in May 2008. The settlement requires final approval from the court on or after a hearing scheduled for the 10th of November 2011 and no assurance can be given that the settlement will ultimately be approved.

Bleak outlook for AngloGold Ashanti

AngloGold Ashanti is struggling after a big drop, and the prognosis is bleak in the eyes of one trader.

Norton Rose advises on US$205 million term loan and cost overrun/working capital facility for Boseto project in Botswana

A team from the UK, Australia and South Africa offices of international legal practice Norton Rose Group has advised the joint lead arrangers in relation to a US$205 million term loan and cost overrun and working capital facility to Discovery Copper

Gold One’s Rand Uranium buy, Chinese transaction approved

PERTH (miningweekly.com) The South African consumer watchdog has granted permission to ASX- and JSE-listed Gold One to continue with its takeover of Rand Uranium, as well as to take on a Chinese consortium as its majority shareholder. Gold One signed a