Africa Mining News

Ivanplats says DRC copper project Africa’s largest

Ivanplats CEO Robert Friedland said on Wednesday his company was developing Africa’s largest copper project in the Democratic Republic of Congo (DRC).

Newmont could redirect Conga billions to Ghana if delays continue

Newmont Mining, world number two gold producer, said on Wednesday it has options to spend its capital elsewhere to meet production targets if its $4.8 billion Conga project in Peru does not restart.

South Africa platinum miners given 20 days for lapsed rights ideas

Platinum miners in South Africa have 20 days to provide ideas on lapsed and revoked mineral rights as the government looks to drive forward exploration in the country, reports Mining Weekly.

Zambia mull policy to compel mining firms list on stock market

The Zambian government says it plans to put in place a policy that will compel mining firms to list on the local bourse to enhance citizens' participation in the country's mineral wealth, the Zambia Daily Mail reported on Tuesday.

BHP closing in on A$3.5 billion Gabon iron ore deal – report

BHP Billiton Ltd. (BHP) is close to striking a A$3.5 billion deal with the government of Gabon over the Belinga iron ore project, which is said to contain about 4 billion metric tons of ore, the Australian newspaper reported Wednesday without citing a source for the information.

Leighton officially launches African contract mining operations at Indaba 2012

The world's largest contract miner, the Leighton Group, yesterday officially launched its operations in Africa at Mining Indaba 2012 in Cape Town, South Africa. The Leighton Group is a leading international contractor and the world's largest international contract miner. The group, which operates across Australia, the Pacific, Asia, the Middle East and now Africa, has annual revenues of almost $20 billion and work in hand of over $45 billion. Leighton Africa has been established to capitalise on the growing opportunities in the African mining industry.

Nevsun shares plunge 30% after slashing 2012 guidance

Shares in Nevun Resources Ltd. fell off the cliff this morning after the company issued a press release saying its 2012 production estimate from its Bisha copper-gold mine in Eritrea is half of what the mine produced in 2011.

1.5 million carats on the block at Zimbabwe diamond auction

Up to 1.5 million carats worth of diamonds are being auctioned this week by companies allowed to mine the controversial Marange diamond fields in Zimbabwe.

Banro Announces US$125 Million Debt Financing

Banro Corporation ("Banro" or the "Company") (NYSE Amex:BAA)(TSX:BAA) is pleased to announce that it intends to proceed with a brokered private placement debt offering for gross proceeds of up to US$125 million. TORONTO, ONTARIO--(Marketwire - Feb. 6, 2012) - Banro Corporation ("Banro" or the "Company") (NYSE Amex:BAA)(TSX:BAA) is pleased to announce that it intends to proceed with a brokered private placement debt offering for gross proceeds of u...

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.