Africa Mining News

Tigray keeps hitting high-grade copper in Ethiopia

Tigray Resources adds more pieces to the picture at the Terakimti prospect in Ethiopia as it drills more thick high-grade copper.

South Africa says no to mines nationalization

The South African government has quashed persistent rumours about nationalizing the country's mining industry.

Allana Potash Drilling intersects robust potash and provides feasibility and infrastructure update

Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has intersected two zones of strong potash mineralization in both Hole DK-11-29 ("Hole 29") and Hole DK-11-31 ("Hole 31). Hole 29 is located in the western portion of the concession block and was targeted to test potash mineralization west of Hole 9.

Read my lips: South African Minister announces no mining tax surprises

According to South Africa’s National Planning Minister, Trevor Manuel, the country will not be hitting mining companies with any surprise new taxes.

Randgold Resources shines bright as year profit soars

London- and Nasdaq-listed gold producer Randgold Resources Ltd. (LON:RRS) (NASDAQ:GOLD) stocks went up 3.5 percent after the West Africa-focused miner reported a more than fourfold rise in net profit for the year ended December 2011 due to higher gold prices and a significant increase in production.

South Africa is looking at mining super-tax, 'targeted intervention' in platinum sector

South Africa's ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering new taxes and "targeted interventions" in the sector, particularly platinum mines.

Obama trade adviser + basketball star + warlord = Gulfstream V loaded with 1,000 pounds of gold

A new UN report says a US trade adviser appointed by Barack Obama orchestrated a $20 million deal to buy 1,045 pounds of gold in eastern DRC from warlord Bosco Ntaganda, wanted for war crimes since 2006. The botched deal by Houston oil tycoon Dr. Kase Lawal also involved his brother and former basketball star Dikembe Mutombo.

China gold output in 2011 was 360 tonnes

Interfax-China reported that China's gold bullion output grew by 5.89% in 2011 to reach a record high of 360.96 tonnes up by 20.08 tonnes from the previous year making the country the world's largest producer for the fifth year running. The China Gold Association said that South Africa, the world's largest gold producer from 1896 to 2006, has seen output dwindle in recent years. It reported total production of 192 tonnes in 2010.

Top shareholders gunning for Xstrata's Big Mick, could block deal without premium

The Telegraph reports Chairman John Bond and CEO Mick Davis risk being voted off the board of Xstrata after being accused of negotiating "a cosy stitch-up" with Glencore and that other major shareholders have threatened to block the deal altogether if the Swiss commodities giant does not offer a "substantial premium."

Tougher year for platinum mines

The stresses that have afflicted South Africa's platinum miners for the best part of a year appear to be coming to a head.

Tanzanian Royalty Awards Contract for Preliminary Economic Assessment of Surface Rubble Deposit at Kigosi Gold Project

Tanzanian Royalty Exploration Corporation is pleased to announce that it has entered into a contractual agreement withConsulmet Metals (Pty) Limited of South Africa to complete a Preliminary Economic Assessment (PEA) for a gravity recovery plant on its Kigosi Gold Project in the Lake Victoria Goldfields of Tanzania.

Cluff Gold expands its mining operations in West Africa

Cluff Gold (TSX:CFG) (AIM:CLF), a gold miner focused mainly in West Africa, announced on Friday that it will buy Orezone Gold’s Sega gold project mining licences and property in Burkina Faso for 11-million shares and $15-million in cash.

Glenstrata: Not just mining's biggest ever deal, a new kind of resource giant

Glencore International is in talks with Xstrata to merge in a deal that would create a $80 billion rival to BHP Billiton, Vale, Rio Tinto and China's Shenhua. Here's a wrap-up of what people are saying about the birth of the globe's first vertically integrated resource giant.

Randgold – Kibali Project in the Starting Blocks

Preparatory work has been completed at the Kibali gold project in the Democratic Republic of Congo, where first gold production is scheduled for the end of 2013.

Allana Potash announces closing of $20 million bought deal financing

llana Potash Corp (TSX:AAA) is pleased to announce that it has closed its previously announced public offering of common shares of the Company. Pursuant to the terms of the Offering, the Company has issued 25,000,000 Common Shares at a price of $0.80 per share, for aggregate gross proceeds of $20,000,000.

General's complaint against Pathfinder Minerals just got serious

Pathfinder Minerals, an Aim-listed natural resources company, mines heavy mineral sands on the coast of Mozambique.

Zambian gov't to increase mines ownership to 35%

Times of Zambia reports that the Zambian government is planning to increase its share of mining firms from 20% to 35% but is not planning a wholesale nationalization.

Golden Star Resources reboots oxide plant, gains 70,000 ounces production

Originally the Bogoso/Prestea oxide plant in Ghana operated from 1990 to 2008, until it was sidelined due to a lack of an adequate oxide ore supply required to keep the plant afloat. After three years of being put on care and maintenance, Golden Star Resources (TSX:GSC) (AMEX:GSS) announced the re-commissioning of the oxide plant at Bogoso/Prestea, a move that’s expected to generate up to 70,000 ounces of gold in 2012.

Goldrush Encounters Gold Mineralization in RAB Drilling Program on Pompoi Permit, Contiguous With Roxgold's Yaramoko Project in Burkina Faso

Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company") is pleased to announce the results of a shallow Rotary Air Blast ("RAB") drilling program on the Company's Pompoi permit which is contiguous with and to the east of Roxgold Inc.'s ("Roxgold") Yaramoko permit.

BHP Billiton exits titanium industry by selling stake in Richards Bay Minerals to Rio Tinto

BHP Billiton Limited (ASX:BHP) said Wednesday that it is selling its 37% non-operated interest in South African mineral sands venture Richards Bay Minerals to partner Rio Tinto PLC (LON:RIO). With this move, BHP is officially leaving the titanium minerals industry.

London Mining makes first shipment from Sierra Leone

Junior miner London Mining’s stocks (LON:LOND) went up almost five per cent today as the company announced two major milestones: the first shipment of iron ore from its Marampa project in Sierra Leone and the commencement of production of coking coal in Colombia.

Platinum industry attacked from many angles: Aquarius Platinum CEO

Aquarius Platinum CEO, Stuart Murray, announced frustration with the platinum industry due to strikes, regulatory hurdles and PGM oversupply.

Pitchstone's Uranium exploration plans for 2012

- Namibia Licence Renewals Completed- Analyses Received for Namibia Drilling- Dome Airborne Geophysical Survey Contract Signed- Athabasca Exploration Underway

La Mancha Discovers a Mineralized Structure Extending Over 800M at Sissedougou

La Mancha Resources Inc is pleased to report that its wholly-owned properties in Côte d'Ivoire have returned very promising drill results.

Argus receives title and uranium licence for the large-scale, drill-ready Kaituma uranium/gold project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2012) - Argus Metals Corp. (the "Company" or "Argus") (TSX VENTURE:AML) reports that the Guyana Geology and Mines Commission has granted and signed Argus' PL29/2011 licence. This licence allows for the exploration of uranium, gold and precious elements. PL29/2011 is west of, and contiguous with Argus' PL53/2009 licence, which also allows for the exploration of uranium, gold and precious elements. With PL29/2011 in place, Argus now holds the full 10 x 1 kilometre extent of the Kaituma uranium target and plans to execute a drill program on the project as soon as technically and financially feasible.