Africa Mining News

Leading the supply of roller bearings to South Africa’s mines

Revolvo, which says it is "the UK's largest bearing manufacturer, [and] has established itself as the market leader for split bearings in South Africa, as a result of the activities of its long standing sole distributor, OE Bearings, and from the fact that Revolvo is the only manufacturer of non ISO- sized SN SD split plummer block bearings to the South African market."OE Bearings serves the South African mining industry, among others.

Eastplats increases equity interest in Lion's Head Platinum and ownership in the Mareesburg platinum project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2011) - Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats" or the "Company") is pleased to report that it has increased its interest in the Mareesburg platinum project ("Mareesburg") as a result of purchasing a further 23% interest in Lion's Head Platinum (Proprietary) Limited ("LHP"), the entity that owns a 100% interest in Mareesburg. The consideration to be paid by Eastplats to acquire this additional interest in LHP is US$10 million and 20 million common shares of Eastplats, making the total cost to the Company approximately US$20.5 million.

Canada Wants the Country to Trade Its Diamonds

Canada says it is comfortable with Zimbabwe trading in its Marange gems as the move will strengthen the global diamond industry.

Kumba: the unintended beneficiary in Sishen saga

While the judge ruled in favour of ArcelorMittal in the dispute between it and Imperial Crown Trading, Kumba has emerged with some of the spoils

Petra sells 4.8 carat blue diamond for $1.45mn

The African-focused diamond miner has sold its 4.8 carat blue diamond, produced from South Africa's famous Cullinan mine, for $1.45 million.

Anglo American's Kolomela iron ore mine delivers first ore

The miner said the $1 billion Kolomela iron ore mine in South Africa has exported its first shipment, putting the project ahead of schedule and on track to achieve full production by 2013.

AngloGold keeps Mariana stake

AngloGold Ashanti (ANG), Africa's largest gold producer, now holds a 19.9% stake in exploration and development company Mariana Resources.

Diamondcorp recovers gem quality stones at Jwaneng South

DiamondCorp (LON: DCP) said today its latest drilling at Jwaneng South in Botswana had recovered 23 macro diamonds of mostly clear gem quality.

Zimbabwe government may force platinum miners to set up refineries

Concerned about the un-taxed export of byproducts refined from platinum, the Zimbabwean government is considering drafting laws that would force platinum mining companies to set up refineries.

Anglo American mulls sale of Amapa iron ore stake – sources

Several industry sources say the miner is considering selling its majority stake in the Amapa iron ore operation in Brazil to focus on its flagship Minas-Rio growth project.

London Mining delays first Marampa shipment

The miner has delayed the first shipment from its Marampa iron ore mine in Sierra Leone to January to allow it to use larger supramax sized vessels instead of handymax sized vessels.

Blood diamonds 'will pay for Mugabe's terror'

Conflict diamonds are to be used to fund a new campaign of violence by President Robert Mugabe's regime against his political opponents in Zimbabwe as elections loom.

Occidental Gold plans Ivory Coast gold mine

After discovering a significant deposit in the Ivory Coast, Occidental Gold, a unit of Australia's Perseus Mining said it will seek a mining licence from the West African state.

Diamond mining firms unfazed by US sanctions list

Two diamond mining companies that were recently placed on the United States government sanctions list have said the embargo will not affect their operations and marketing of the gems.

South African court rules $89 million stake in iron ore mine wrongly awarded

A South African court has ruled that the Department of Mineral Resources wrongly awarded prospecting rights to the Sishen iron ore mine to Imperial Crown Trading 289 (ICT).

Glencore enters agreement to acquire stake In Rosh Pinah Zinc

Glencore International plc today announced that a subsidiary has entered into an agreement with Exxaro Base Metals and Industrial Holdings (Proprietary) Limited to acquire Exxaro’s entire 50.04 per cent shareholding in Rosh Pinah Zinc Corporation (Proprietary) Limited, a zinc mining business in Namibia.

Mozambique ports grow with Rio Tinto appetite for coal

Roads were little more than rubble and there was barely enough working equipment to load cargo at Maputo port in 2003. Then Mozambique brought in Grindrod Ltd. (GND) and DP World Ltd. (DPW)to operate the harbor.

US sanctions two diamond mines in Zimbabwe

The United States on Monday sanctioned two diamond mines located in Zimbabwe's Marange region, the scene of serious human rights abuses in 2008.

Capital Drilling grows further in Chile and Mauritania

Capital Drilling, the emerging and developing markets drilling company, has been awarded two further contract wins and extensions. Capital Drilling Mauritania has recently been awarded a new development drilling contract with Kinross Gold in Mauritania, which represents a further expansion of activity at the Tasiat gold mine, where Capital Drilling has been drilling since 2010.

Botswana, DRC and Zambia most vulnerable to 'resource curse'

Oxford Policy Management published a new report explaining how low- and middle-income countries are becoming increasingly vulnerable to the "resource curse."

Rumour mill churning on Anglo bid for Mozambique coal mine

Just one week following Anglo American's approval of a $1.7 billion met-coal project in Queensland, the London-listed diversified miner may be shopping for more coal assets.

Afferro sells Putu stake to focus on Cameroon project

The anticipated receipt of $115-million from the sale of its interest in the Putu iron project is ‘Christmas come early’ for iron-ore miner Afferro Mining, said London-based Evolution Securities’ Charles Kernot.

Chalice puts Eritrea gold project on chopping block

TSX- and ASX-quoted Chalice Gold Mines said on Monday it signed a nonbinding agreement to sell its Zara project in Eritrea, the East African State that the UN slapped with further sanctions last week.

Caledonia Mining in negotiations with Zimbabwe's Government

Caledonia Mining Corporation announced today that is taking part in negotiations with the Government in Zimbabwe to try and agree an Indigenisation Plan at the country's Blanket Mine.

Lucara receives record price for its Lesotho diamonds

A total of US$6.4 million obtained Lucara Diamond Corp. for the sale rough diamonds at its second tender of gems recovered from the Mothae mine in Lesotho. The company reported that all 28 lots offered received multiple bids with 7,190 carats garnering an average price of $893 per carat.