Africa Mining News

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

No serious impact from protests – Newmont Indonesia

According to the Indonesian unit of the U.S. miner, several days of protests at its Batu Hijau copper-gold mine had had no significant impact on production Local authorities have dispersed the protesters who since Aug. 2 had been blocking access and

BRIEF-Vedanta buys stake in Liberia iron ore project for $90 mln

LONDON, Aug 8 (Reuters) - Vedanta Resources PLC: * Sesa goa to acquire 51% stake in western cluster * Sesa goa to acquire a 51% stake in western cluster limited, liberia * For a cash consideration of US$ 90 million * Sesa goa will become a significant

Recapitalisation to support recovery of Zimbabwe's mining

Research and Markets reports that after 11 years of decline, the Zimbabwean economy is recovering, supported by an increase in production output of the country's mining sector. Mining and manufacturing companies in Zimbabwe are, however, expected to continue to struggle to raise funds to start or expand operations during the short term.

World's top miners worry most about greater government control

Dow Jones reports resource nationalism is the top business risk for the top 30 global miners, while supply capacity constraints ranging from skills shortage to infrastructure bottlenecks continue to dominate the top ten list, according to an annual survey by consultants Ernst & Young. Resource nationalism jumped to the top of the list this year from fourth in 2010 after 25 countries announced their intentions to increase their take of the mining industry's profits and others contemplate outright nationalization. Fraud, bribery and corruption sneaked onto the list of top concerns for the first time as a number of countries introduce or tighten rules for executives operating in countries that rank high on corruption indices.

Diamond giant De Beers proposes hazardous waste dumps, prisons at old mines

TimesLive reports diamond giant De Beers plans to put hazardous waste - and up to 1,000 prisoners - into its disused property and diamond mines in the picturesque Namaqualand region (depicted), in the northwest of South Africa. The company, which also had to settle a two-week strike over wages on Thursday, said the projects were just two of several potential business ideas for the disused old mine areas and that the Department of Minerals have asked for further public consultation and an impact study. Last month De Beers concluded a deal with the state power utility Eskom to build a 150MW wind farm on a large stretch of coast north of Kleinzee, one of two towns that form part of the De Beers properties.

Diamondcorp's Lace mine sampling exceeds expectations

Diamondcorp CEO says increased per-carat value could drop break-even grade - making Lace Diamond Mine a bigger cash generator than expected. According to miningmx.com, the South African Diamond Exchange has valued the first 561 carats of diamonds out of the 759 carats recovered from 5,515 tons of kimberlite at $205/carat – 71% higher than the company's base case of $120/carat.

Vedanta invests $90 million to control a billion tonnes of Liberia iron ore reserves

Sesa Goa, a subsidiary of Vedanta Resources, on Saturday said it will buy 51% stake in an iron ore making firm in Liberia for $90 million in an all-cash deal. Located in Western part of Liberia and spread over 270 sq km area, the company has an estimated reserve of over 1.05 billion tonnes iron ore. Vedanta's investment follows iron ore giant ArcelorMittal which after five years of ground work started operations at the country's Tokadeh mine earlier this year and is spending $800 million in the first phase of the project to rehabilitate the rail link and port. ArcelorMittal exported the first iron ore from Liberia after a 20 year hiatus on June 11 from the port of Buchanan.

South Africa coal exports fall again in July

South Africa's Richards Bay Coal Terminal (RBCT) exported 4.36 million tonnes of coal in July compared with 4.78 million tonnes the previous month, RBCT data showed on Thursday. This compares with 5.94 million shipped during the same month last year.

Delta Mining defines 136m tonnes at Limpopo coal project

Following the 53-hole first phase drilling program completion by Delta Mining Consolidated Ltd (DMC) on its 3,445 hectare Southern block of the 9,548 hectare Limpopo Coal Project, an indicated coal resource of 136 million gross tons in situ has been announced.

Research and Markets: Production and Investment Forecasts in the Namibian Mining Industry: Uranium Set to Overtake Diamonds as Namibia's Largest Foreign Currency Earner

Research and Markets (http://www.researchandmarkets.com/research/5cb789/production_and_inv) has announced the addition of Frost & Sullivan's new report "Production and Investment Forecasts in the Namibian Mining Industry" to their offering. This research

Botswana world’s top diamond producer in 2010

The Economic Times reports Botswana is the world’s biggest rough diamond producer by value in 2010. According to statistics release by the Kimberley Process, a UN certified scheme, despite Russia producing more rough diamonds in 2010 at 34 million carats worth around $2.38 billion, Botswana’s 22 million carats mined in 2010 were worth around $2.59 billion — $210 million dollars more than Russia.

Cape Lambert's Marampa iron ore IPO plan boosted by China interest

Australian mining explorer Cape Lambert Resources is seeking to list its Marampa iron ore project in Sierra Leone by the end of 2011 to raise as much as $500 million, as Chinese backing for the larger Tonkolili development nearby supports its plans.