Africa Mining News

Avion Q3 gold output misses own view, cuts 2011 outlook

n"Oct 7 (Reuters) - Avion Gold Corp said third-quarter production at its mines in Mali, West Africa was below expectations, as technical difficulties and heavy rains led to lower grade ore recovery. The West Africa-focused company, which holds 80 ...

Diamond dividends add sparkle to state coffers

THE Namibia Diamond Trading Company (NDTC) has paid dividends of N$40 million to Government, bringing the total amount of state dividends this year to N$100 million. To date, the NDTC has pumped N$310 million worth of dividends into state coffers, the...

Avion Announces Q3 Gold Production of 21,700 Ounces

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2011) - Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the 'Company') is pleased to announce third quarter of 2011 production of approximately 21,687 ounces of gold from its Tabakoto/ Ség...

Semafo Q3 sales rise on higher gold output

Semafo Inc's third-quarter revenue jumped 19 percent, helped by higher gold output at its Mana mine in Burkina Faso, west Africa.

Comminution company sees market boom in Africa

The demand for mining and aggregate processing technology in Africa is increasing steadily, owing to increased foreign investment and the subsequent need for secondary infrastructure.

Zambia lifts metal export ban

Reuters reports Zambia has lifted a ban on metal exports just two days after imposing it to sort out revenue collection and increase transparency in Africa's top copper producer, a minerals ministry official said on Thursday. It's good news for the Zambian mining sector – a lengthy suspension could have further pressured mines already dealing with volatile metal prices in recent weeks. Newly elected President Michael Sata has been concerned – analysts say with good reason – about copper exporters misreporting the amount of ore leaving Zambia, and earlier this week suspended export permits, to put new guidelines in place. Cobalt, gold and nickel also fell under the ban and now all export payments need to be routed via the central bank.

Richards Bay Coal Terminal CEO quits

Richards Bay Coal Terminal (RBCT) CEO Raymond Chirwa has resigned. RBCT chairperson Imogen Mkhize said in a statement that RBCT’s GM Alan Waller would act as RBCT CEO until further notice.

Mining surge to increase DRC's power deficit

The Democratic Republic of Congo would see its energy deficit dramatically increase in the next four years due to a surge in demand from the mining industry, the country's national supplier said on Tuesday.

Metorex hits record with 15% increase in quarterly copper production

Metorex Limited (JNB:MEMTX) reached a new high in quarterly copper output, with production rising by 15% to 15,202 tons. Cobalt output rose by 11% to 942 tons.

Hanlong buys Sundance for US1.57B

A Chinese company has made another bid to secure iron ore and other metals beyond its borders. On Tuesday Hanlong Mining said it will buy Perth-based Sundance Resources for US$1.57 billion. AFP reported that Hanlong will acquire Sundance through a scheme of arrangement, after lifting its offer to 57 cents cash per share from 50 cents back in July.

Vale to concede 35% of Simandou to Guinea

Vale SA will likely hand over 35% of its Simandou iron ore project to Guinea. The Wall Street Journal (sub required) is reporting that Vale, one of the top three producers of iron ore, is working on an accord whereby the company concedes 35% of the Simandou project to the Guinean government. The accord falls in line with the country' new mining laws, which allow the government to increase its stake in mining projects from 15% to 35%.

China's Hanlong ups takeover offer for Australia's Sundance

Two sources familiar with the situation told Reuters the Chinese firm has agreed to raise its offer price for Sundance Resources to secure an agreed takeover bid for miner. Chinese firm Hanlong Mining has agreed to raise its offer price for Sundance

Shanduka eyes majority stake in Lonmin's Limpopo division

World's third-largest platinum producer, Lonmin, said on Monday it had agreed a deal which could see South Africa's Shanduka investing R1.1 billion rand for control and management of its Limpopo division. Miner Lonmin, the world's third-largest platinum

Banro start to gold production from Twangiza, DRC, imminent

Banro’s Twangiza gold mine (IM, February 2008, pp8-26) is on schedule to pour gold in Q4 2011 and ramp up to full production of around 10,000 oz/month early in 2012.

Forevermark Diamond Jewelry Brand Expects $300M in Revenue in 2011

The Forevermark diamond jewelry brand launched in India in January 2011 De Beers’ Forevermark diamond jewelry brand expects revenue to reach $300 million in 2011, compared to $250 million in 2010, the Business Standard reports. Forevermark launched in

Ougadougou urges mining firms to help beat poverty

Burkina Faso Prime Minister Luc Adolphe Tiao called on foreign mining companies active in the country to do more to help alleviate poverty hitting 42 percent of the 16 million population. "We want to see the mining companies include in their investment

African Minerals cuts iron ore sales forecast

Mining firm African Minerals Ltd cut its estimate of iron ore sales for 2011, as mine equipment at its Sierra Leone project was redeployed to build port and railway infrastrucure.

Minmetal Resources offers $1.3 billion for Anvil Mining

Minmetal Resources bought Anvil Mining for $1.3 billion, representing a 30% premium over Anvil Mining's average share price. The Anvil Board has unanimously approved the offer. Anvil's key asset is the Kinsevere mine, located in the Democratic Republic of Congo. Minmetal says its annual copper output will grow by 60,000 tonnes per year, an increase of 60%. The mine is expected to have about a 14 year life.

Namibia: Namdeb Donates Redundant Equipment

Windhoek Namdeb on Tuesday through its corporate social responsibility programme donated redundant components and equipment, valued at N$372 440, to Namibia Institute of Mining Technology's (NIMT) Southern Campus at Keetmanshoop in the Karas Region. The

Miners rebel against Zimbabwe indigenization law

The Zimbabwe Guardian reports that at least 137 mining companies are risking losing their mining licences for refusing to comply with the country's new indigenization regulations. Affected companies include Anglo-American, Murowa Diamonds and Metallon Gold, according to the newspaper, which notes that 38 companies have complied. The government of Zimbabwe, the country with the largest platinum reserves outside number one producer South Africa, is demanding 51% of all foreign-owned mines operating in the country under its so-called indigenization laws.

Mozambican government suspends granting of coal mining licenses in Tete province

The Mozambican government has decided to suspending the issue of new licenses for coal mining in Tete province, the inspector of the Mining Resources Ministry, Afonso Abica said Tuesday in Maputo.

China goes after another African copper producer, bids $1.3 B

In yet another buying spree, China is going after another African copper producing firm to acquire its abundant copper production. Minmetals Resources Ltd. of China is poised to buy Anvil Mining of Congo for $1.31 billion to secure copper mine production output in Africa amid the recent fall of the commodity's prices in the world market.

ArcelorMittal formally commences iron ore production in Liberia

ArcelorMittal, the world's largest steel and mining company, recently commenced commercial iron ore production from its mining operations in Liberia. A launch event was held in Buchanan which was attended by Her Excellency President Ellen Johnson.

Great Western Minerals and GQD says making substantial progress on Steenkampskraal rare earth separation plant

Great Western Minerals Group (TSX VENTURE:GWG) (OTCQX:GWMGF) ("GWMG" or the "Company") is pleased to announce that substantial progress is being achieved, with the active participation of Ganzhou Qiandong Rare Earth Group Ltd. ("GQD") of China, in the development work on the rare earth separation plant in the vicinity of Steenkampskraal in South Africa.

Strengthen mining sector revenue monitoring mechanisms – ZPP

THE Zambian People's Pact (ZPP) has said it expects the Patriotic Front(PF) to strengthen monitoring mechanisms for revenues in the mining sector in order for Zambia to benefit fully from its mineral resource. ZPP's national secretary Peter Sinkamba said