Africa Mining News

Endeavour Mining sells 40% interest in Finkolo JV for US$20 million cash

MONACO, March 6, 2012 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR) is pleased to announce it has entered into a definitive agreement with Resolute Mining Limited ("Resolute") (ASX:RSG) for the sale and transfer of its 40% interest in the licenses and associated property comprising the Finkolo Joint Venture (the "Finkolo JV") in Mali for total consideration of $20 million in cash.

Merafe CEO calls for $100/t export tariff on South African chrome ore

South Africa is pricing itself out of the ferrochrome market despite it being the world's largest producer of chrome ore by selling it at low cost to China

Fairtrade Foundation to certify African gold

The group will work with eight mining groups in Kenya, Tanzania and Uganda to address dangerous working practices and environmental damage in small-scale gold mining.

Zimbabwe to announce Implats fate after ownership talks deadlocked

State-controlled Herald newspaper says Zimbabwe's Mines and Empowerment ministers will meet on Wednesday and announce a decision on Zimplats after latest talks on black ownership ended in deadlock.

Glencore perplexed by Zambia copper plant closure, to testify before UK parliament's tax avoidance inquiry

Glencore on Monday expressed surprise over health and environment officials in Zambia's decision to immediately close a Mopani copper operation over complaints from residents of a nearby town. The London-listed commodities giant is also set to appear before a British inquiry over tax avoidance in the developing world.

Near-record for mining M&A in 2011 to be followed this year by an “African Renaissance” – PwC

If 2011 was a near-record year for mining mergers and acquisitions (M&A), with over 2,600 deals worth $149 billion announced in the global mining sector, 2012 will be remembered as the year of the “African Renaissance,” concludes the latest PricewaterhouseCoopers’ report released this morning.

Two top copper mines in Zambia shut down

Two of Zambia's largest copper mines, Glencore's Mopani and Xstrata's Kansanshi were shut over the weekend; the former over health concerns and the other after workers downed tools.

Mining giant turns to content marketing to attract quality candidates

Australia, Canada, South Africa and many more countries are courting a small, transient, global workforce of engineers, geologists and metallurgists to keep their mining, oil and gas, and energy operations running. What can these major corporations do to secure the right talent? If you’re Rio Tinto, you turn to content marketing.

Angola blood diamond case: Bermuda firm cited

Angola’s attorney general has summoned witnesses to testify in a case involving a Bermuda-registered mining company which implicates some of the top figures in the country’s military and security establishment in acts of torture and murder in the diamond fields of north-eastern Angola.

Production resumes at Impala Platinum after six weeks wildcat strike

Full production has resumed at the Impala Platinum Mine in Rustenburg, where workers had been on an illegal strike for six weeks.

Forbes & Manhattan acquires South African coal producer

Forbes & Manhattan Coal Corp. has made its final payment of 140 million South African rand ($18.6 million) to acquire Slater Coal (Pty.) Ltd., according to a March 1 news release.

SearchGold Resources Inc.: completes private placement

SearchGold Resources Inc. (the "Company" or " SearchGold") (TSX VENTURE:RSG)(FRANKFURT:S1O) is pleased to announce that it has closed a private placement of 10,000,000 shares (each, a " Share") at a price of $0.05 per Share for aggregate gross proceeds of $500,000 (the "Private Placement").

New study says 66% of institutional investors choose Africa as number one destination. No wonder. Have you seen the size of that place?

A new survey by The Economist Intelligence Unit finds when institutional investors interested in frontier markets were asked to choose two regions out of five, two-thirds see Africa – projected to be the fastest growing region on the planet this year – as holding the greatest opportunity.

Extract Resources Ltd broadcast: Extract issues Target's Statement, with Independent Directors unanimously recommending that shareholders accept the Taurus Offer

The Independent Directors of Extract unanimously recommend that shareholders accept the unconditional A$8.65 cash offer from Taurus Mineral Limited ("the Taurus Offer"), in the absence of a superior proposal.

Workers down tools at Kansanshi copper mine

Zambia Daily Mail reports that workers at the Kansanshi copper mine have gone on strike.

Thailand's PTT Plc buys Madagascar coal mine for US$50 million

Bankgok Post reports that PTT Plc has acquired the remaining shares in Perth-based Red Island Minerals for $50.2 million.

Zimbabwe seeking "lost" diamond revenue

Zimbabwe said Thursday it is seeking to trace lost revenue from the country's vast mineral reserves, as part of an attempt to shore up its finances.

End in sight for Extract buyout

The directors of Extract Resources, would-be developer of the Husab uranium deposit in Namibia, have urged shareholders to accept a buyout offer from China Guangdong Nuclear Power Company subsidiary Taurus Mineral.

Over a hundred workers in limbo after Firestone Diamonds’ Botswana mine surprise closure

The future of about 160 workers at BK11 diamond mine in Botswana is in the balance after UK-based owner, Firestone Diamonds (LON:FDI), suspended operations yesterday.

Botswana rapidly emerging as uranium power in Africa, major South Korean project and don’t forget Pine Creek

An Australian explorer said today that one of Africa’s most prolific uranium plays is shaking off the tag that it was the uranium province that was missed and is starting to emerge as a potentially significant greenfields province.

Despite write-down, Tasiast remains Kinross Gold's top priority

Kinross CEO Tye Burt said the company's technical understanding of the orebody "has grown substantially" at its controversial Tasiast gold project in Mauritania in West Africa.

Guinea to see its first commercial iron-ore mine flourish by spring

London’s AIM-listed Bellzone Mining announced this morning that its Forécariah joint venture project in Guinea has received approval to complete the first blast at Yomboyeli, allowing Bellzone to kick off iron-ore production by the end of the first quarter this year.

Rio Tinto, Vale discuss sharing rail system – report

Rio Tinto PLC (RIO) is talking to Vale SA (VALE) about sharing rail and port infrastructure for their respective Simandou iron ore projects in Guinea, The Australian Financial Review reported Monday, citing unnamed sources close to Rio.

Vale to begin building coal terminal in Mozambique

Mozambique's Prime Minister Aires Aly said in Tokyo on Thursday his nation plans to start construction of a coal terminal at the northern port of Nacala in the next few months, aiming for it to be operational in two to three years.