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.
Africa Mining News
Severstal announced that its indirect subsidiary Lybica Holdings BV has entered into a legally binding heads of terms agreement with Afferro Mining Inc and its wholly owned subsidiary Mano River Iron Ore Holdings Limited for the purchase of 38.5% interest in the Putu Iron Ore Project, Liberia.
Mineral process solutions provider Multotec is in the process of expanding extensively into other parts of the African continent and beyond. The company has recently established branches in Mozambique, Zambia and Ghana, with an agent in Zimbabwe and Thomas Holtz, Multotec CEO says business is "flourishing" in all these areas. He states: "Our growing branch infrastructure is helping us transition from pure equipment sales into the field service maintenance arena. Today we're in the business of delivering peace of mind - working closely with our customers to provide condition monitoring and process optimisation services for the lifetime of the equipment we supply. We stand by our product and staying with it in the field, ensures it provides a maximum return on investment to our customers."
The 54-year-old continued working when diagnosed with early incurable lung disease until he was fired after 30 years, in a story traced on thumb-worn papers in his home off a rutted dirt road in the downtrodden Eastern Cape.
As South African safety, health and environmental legislation continues to tighten, Weba Chute Systems reports increased interest in its bulk materials handling equipment, which significantly reduces noise and dust pollution and lowers energy consumption, while extending the traditional lifecycle of this category of equipment.
Gold Fields Ltd., one of the world’s top gold producers, is exploring the possibility of acquiring the Mankayan copper-gold project in Benguet for $70 million. This would expand the South African mining giant’s investment in the province’s...
Gold miners are rushing to boost their dividends in the hope of wooing investors from gold-linked exchange-traded funds and other vehicles. In the latest move, Iamgold, a mid-sized producer with mines in west Africa, Canada and Suriname, announced a 2...
After prodding from the TSX Market Surveillance department, Oromin Exploration (TSX: OLE) acknowledged it was in talks with a suitor that might lead to a takeover.
AIM-listed MDM Engineering ‒ a company which undertakes mineral resources projects concentrating on the gold, base metals, industrial metals and diamond sectors ‒ has seen no sign of any slowdown so far on mining projects planned for Africa because of global economic worries.
Toronto’s Iamgold has sold its Mupane Gold Mine in Botswana to TSX-V-quoted junior Galane Gold for $34-million in cash and shares, the company announced on Wednesday.
African Barrick Gold said it will fall short of its 2011 production target because of escalating power disruptions to national grid electricity supply in Tanzania.
Kalahari Minerals (LON:KAH), whose main asset is the Husab uranium project in Namibia, has accepted a cash offer from Chinese Guangdong Nuclear Power Corp (CGNPC) valuing the London-listed company at $993 million.
Fraser Alexander was a foreman on a mine in South Africa in the early 1900s. He was in charge of building the sand and rock dumps.
A contract for the conveyor system for the extension to the Lumwana copper mine in Zambia has been awarded to Bateman. The scope of work covers design, supply, delivery, erection and commissioning of the conveyor system and include...
If you ask Mark Bristow what it takes to build a successful gold mining company in Africa, he'll start by telling you what it doesn't take.
A planned iron ore mine and a steel plant, with the possibility of a new port, envisioned for the Kunene Region is likely to fast-track Namibia's march towards industrialisation. Eastern China Non-Ferrous Metals Investment Holdings announced earlier in the week the discovery of deposits of over 2 billion tonnes of iron ore in Kunene.
Brazil's Vale is set to move its first coking coal shipment next week from its Moatize mine in Mozambique, sources told Reuters on Tuesday. This will be the first coking coal shipment, after 3 thermal coal shipments, and is destined for steelmaker ArcelorMittal's South African unit. Vale last month approved a $6 billion expansion of Moatize to double output to 22 million tonnes per year.
Anvil Mining, a copper producer in the Democratic Republic of Congo, announced Wednesday China's Minmetals Resources has extended its $1.3 billion takeover offer for the second time, to January 11 next year. The extension comes as violence and allegations of vote rigging mar the DRC presidential election, for which full results is now only expected later this week. Anvil is also undergoing an audit of its leases with the DRC's state-owned Gecamines.
Glencore International, the world's largest commodities trader, on Wednesday announced that it had completed the acquisition of an effective 43.66% equity interest in Umcebo Mining, a South African coal mining business.
It is a sad but indisputable fact that in today's mining industry there are countries that still allow labour practices that belong in Dickensian England rather than a modern economy.
South Africa's coal exports are surging into 2012 just when top spot buyers China and India are out of the market and supply bottlenecks elsewhere have eased, so it will have to fight for market share, eroding prices in a fundamentally weak landscape.
A long legal battle is looming over who has the right to mine iron ore in the Sheini Hills at Zabzugu-Tatale in the Northern region of Ghana.
Murray & Roberts Cementation has been selected by De Beers as the preferred contractor to undertake the development of an underground mining operation at Venetia diamond mine. This project is in a feasibility stage and will be considered by the De Beers Board in 2012.
Gold Fields Ltd., the fourth-biggest producer of the metal, said Ghana’s plan to raise tariffs on mines and introduce a windfall tax could force it to halt expansion projects worth $1 billion in the country.
MDM Engineering Group has signed the contract for the Engineering, Procurement & Construction (EPC) of Tharisa Minerals’ chromite and platinum expansion project in South Africa, near Marikana.