Africa Mining News

Coal import duty cut to help bottom lines of cement firms

Companies have already increased prices by around Rs 5-10 per bag A reduction in the cost of coal imports due to reduced import duties from the financial year 2012-2013 is likely to improve profit margins of large cement companies reliant on imported...

A list of the top movies about mining

Mining has all the elements that make for a good movie: long odds, adventure, conflict, danger, amazing natural scenery, and heroes and villains.

John Paulson's Mali headache

Beaten up gold investor, John Paulson, is a significant Randgold investor who is getting pulled down by trouble in Mali.

What does Mali's coup mean for miners?

Investors are holding their breath after a military mutiny and coup March 22 in Mali, one of West Africa's most established democracies. This Gold Report exclusive delves behind the headlines to analyze the coup's impact on miners.

Randgold highlights mining risk as Turkey seeks gold bullion

On Thursday, gold prices declined to $1,642.50 per ounce, while silver fell nearly 90 cents to settle at $31.35.

Botswana Diamonds releases sparkling interim results

London-listed diamond junior Botswana Diamonds (LON:BOD) forecasts a cheerful future for the diamond market, despite it sliding into the red in the six months to the end of December with a pre-tax loss of over US$327,000.

China on the prowl for mining investments in Africa, S.America and Asia

Chinese investors are turning their focus to emerging economies as they look to expand their demand for commodities and switching away from Australia and Canada, which are getting too expensive.

Aureus Mining Moves One Step Closer To Finding A Second Mine

Market attention in relation to Aureus Mining is mostly focused on the impending feasibility study for the company's flagship New Liberty gold project in Liberia.

CREECO and Dumas Sign Strategic Partnership Agreement

Cree Regional Economic Enterprises Company Inc. (“CREECO Inc.”) and Dumas Contracting Ltd. (“Dumas”) announced today that they have formed an alliance by signing a strategic partnership agreement.

Glencore-Xstrata merger won't happen this year

EU regulators are stepping up scrutiny of the mooted $90 billion merger of the commodities trader and coal giant and the whole vetting process could take until early 2013. That is if the deal goes ahead at all.

Tata Group looking to partner with South African coal miner

The Tata Group, India's largest conglomerate, is said to be investigating a joint venture with South African coal producer Increase Coal.

Nevsun posts $78m profit for Dec quarter

Nevsun Resources, which owns the Bisha gold mine in Eritrea, made $78.3-million in net after-tax earnings in the last three months of 2011, about 12% lower than the previous quarter’s profit, as output and prices shrunk.

Proven and Probable Reserves Grow by 36% at La Mancha's Frog's Leg Mine

La Mancha Resources Inc. (TSX: LMA, hereinafter "La Mancha" or the "Company") is pleased to announce that Proven and Probable gold reserves (the "reserves") at its Australian Frog's Leg mine have increased by 36% following the successful completion of a new upgraded mine plan that incorporates the significant resource increase announced in March 2011.

Powerscreen honours dealer network

Powerscreen, provider of mobile crushing, screening and washing equipment, presented top awards to dealers at World Dealer Conference in Cape Town, South Africa.

Randgold shares plunge almost 13% after military coup in Mali

Randgold Resources (LON:RRS, NASDAQ:GOLD) shares fell close to 13% this morning after a military coup in Mali, where the company has three gold mines that account for most of its bullion production.

DiamondCorp's CEO ready to speak to financiers after SRK green light

Paul Loudon, chief executive of DiamondCorp (LON:DCP), is preparing to talk to banks, project financiers and potential rough diamond buyers. It comes after an independent engineering report gave the green light to the company’s longstanding $50 million (£31 million) project to reopen the Lace mine in South Africa’s Free State province.

Metalex discovers another large (18Ha) kimberlite in Angola

Metalex Ventures Ltd. (TSXV : MTX) ("Metalex", the "Company") is pleased to report that our geological field technician reports that kimberlite has been intersected while core drilling a 18 hectare geophysical target underlying the flood plain of the Cuango River in Angola.

In West Africa, a Canadian mining company pioneers 'the new humanitarianism'

Mining company boss Steve Letwin was ecstatic when he struck a precedent-setting deal with the Canadian government to work together on a training project for African youth. “I think it’s the model of the future,” says the president of IAMGOLD Corp., the Toronto gold miner that operates the biggest mine in the West African country of Burkina Faso.

Riverstone Intersects 15.88 g/t Au Over 10 Metres at the Kao Deposit

Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to report results from eleven diamond drill holes on the 100% owned Kao Deposit, which forms part of the Company's flagship Karma Gold Project in Burkina Faso, West Africa.

Gold mining in West Africa promises growth: Mark Lackey

Mark Lackey, chief investment strategist with Pope & Company, sees particular promise among small-cap gold equities in West Africa. Burkina Faso and Mali offer good topography and stable, democratically elected governments with little interest in economic nationalism.

South Africa's platinum producers angered by ferro-chrome industry's push for ore duty

The drive by major ferro-chrome producers to get the South African government to impose a $100-per-tonne export tax on chrome ore is meeting resistance.

How to avoid being caught in a common gold scam

Recently, I read an article about how Congo born, Dikembe Mutombo, an all-star NBA defender, was nicely scammed in a fake gold deal.

Lawyer prepares silicosis class action suit against top S.Africa gold miners

South African lawyer Richard Spoor says he will file class action papers with the High Court against top gold miners on behalf of thousands of former miners who say they contracted silicosis.

DiamondCorp Lace mine plans validated by South African consultants

African diamond mining and exploration company DiamondCorp Plc., has received validation for its development plan at its Lace mine in South Africa, from SRK Consulting, an independent local consultant.

Rockwell restructures BEE deal, acquires new mine

TSX- and JSE-listed Rockwell Diamonds on Monday reported the successful completion of “robust” negotiations with black economic-empowerment (BEE) partner Africa Vanguard Resources (AVR) following a restructuring of the deal.