[miningmx.com] -- CENTRAL Rand Gold (CRG) may have to close its mine as early as next week after a government order, the Sunday Times reported, citing Bheki Khumalo, spokesman for the Department of Mineral Resources. CRG, in which
Africa Mining News
It was standing room only last Thursday at the Africa Down Under conference in Perth when Globe Metals & Mining (ASX: GBE) managing director Mark Sumich took to the stage. Sumich had an interesting story to tell about Globe's African ambitions. But he is big enough to admit that the big crowd was chiefly there to hear what the next speaker, Rio Tinto's David Joyce, had to say about iron ore markets.
Reuters reports Nigeria expects the first significant iron ore production next year from its 3 billion tonne Itakpe iron ore deposits as it looks to reduce its dependence on oil and gas revenues, a government official said Friday.
Spadework has begun on construction of a trading facility at Diamond Technology Park (DTP) in Gaborone, marking the first stage of what will become a platform for independent tenders for local, regional and international diamond producers and buyers.
WINDHOEK – Four drums of radioactive material stolen last week in Namibia contained uranium ore and came from Areva's Trekkopje Mine in the country, the French company said on Friday. Four suspects have been arrested and the stolen material has been
Reuters reported that the National Union of Mineworkers plans to begin a strike at African Rainbow Minerals' Nkomati Nickel mine on September 5th 2011. The trade union is striking over wages.
Global markets have become increasingly volatile due to the deepening financial crisis, while gold bugs are gripping their seats.
Shares of Sunridge Gold rose a brisk 7% in Thursday morning trade after the junior explorer gave an update on drilling at its zinc-gold-copper deposit in the Horn of Africa only to end the day down 2.8%. Near triple the usual number of shares changed hands on the Toronto venture exchange. Investors in the the Vancouver-based company, which apart from its flagship Asmara project in Eritrea also has assets in another paragon of political instability, Madagascar, have enjoyed a wild ride over the more than ten years the company has been listed – an unlucky few snapped up shares in the company at $6.40 in 2003 and those who saw value in the company at $1.30 at the start of 2011 would have lost almost half that investment.
Glencore International plc (LON:GLEN), seeking access to the growing coal market in India and China, announced on Thursday an estimated $1 billion plan to acquire Optimum Coal Holdings (JNB:OPT), a significant thermal coal producer in South Africa. Glencore will value the ordinary shares of Optimum at 34 ZAR (4.8 USD), a 35% premium over the 30-day volume weighted average. “Optimum’s high quality, long life coal assets and significant presence at Richards Bay Coal Terminal would be an attractive addition to our existing South African coal business," said Tor Peterson, director of the Coal/Coke commodity department.
Rio Tinto Group said it received partial approval from the Zimbabwean government for its plan to increase ownership of the Murowa diamond mine by black citizens of the country.
Full financial support has been finalised for an extension at a Namibian uranium mine, while Australian and US projects have reached more regulatory milestones, and a production increase is planned in Kazakhstan.
BASE Resources says it is close to announcing offtake deals for Kenya's biggest mining project, the $US256 million ($239m) Kwale mineral sands operation. Base managing director Tim Carstens said Dupont and Cristal Global, the world's two largest titanium dioxide producers, were among parties interested in offtake. One deal "that I hope to announce next week, will account for about 35 per cent of our revenue and they are a big name", Mr Carstens said yesterday at the Africa Downunder mining conference in Perth.
The South Africa focused mining company Coal of Africa has signed an agreement to control development in the Mapungubwe Cultural Landscape World Heritage Site.Together with the South African Department of Environmental Affairs and the South African
Sedgman SA recently purchased a Pilot Modular plant on behalf of its client, Rio Tinto Coal Mozambique (RTCM) (originally Riversdale Mining, which has been taken over by Rio Tinto and is now known as RTCM). The modular plant was used to provide data for coal processing to enable maximising the extraction of coking coal from the coal mined.
FLSmidth is poised to expand extensively into the minerals arena, a key corporate strategy that is only likely to be challenged by the skills shortage. So says Peter Lohrmann, newly appointed MD of FLSmidth South Africa, who took over management of the company following the retirement of the company’s former MD Dave Reid.
Slurry equipment solutions provider Weir Minerals Africa has completed the construction of a manufacturing facility for the production of 350 mm and 450 mm Warman centrifugal slurry pumps at its Isando branch, in Johannesburg.
Global law firm DLA Piper on Wednesday estimated that Africa would need an estimated $93-billion infrastructure investment each year.
Diversified miner Exxaro Resources is eyeing its next major coal project as it forges ahead with bringing home the Grootegeluk Medupi expansion project (GMEP), in Limpopo.
Guinea's draft mining code, in which the government plans to more than double its stake in mining projects, has been sent to the country's transitional law-making body for debate and adoption, a member of the council said on Wednesday. A copy of the draft code seen by Reuters in April said the West African country, the world's top bauxite exporter, would take a free 15 percent stake in mining projects.
Business Day reports De Beers expects its South Africa unit to produce 6.5 million carats this year, 1 million less than last year as the effects of mine disposals filter down. De Beers has since 2007 sold several of its South African mines including Cullinan, Jagersfontein, Namaqualand and Finsch. The board is expected to sign a potential R15bn ($2 billion) investment to extend the life of its flagship Venetia mine when a feasibility study ends next year – it would be the company’s biggest South African investment in decades.
London-listed Gem Diamonds announced Wednesday it has found the world’s 15th largest white diamond at its Letšeng Mine in Lesotho, which is fast-becoming the richest source of large diamonds in the world. The company said the type II D 553 carat colour diamond diamond is being analyzed in Antwerp at the moment and has not been named. Without the occasional large diamond find, the Letšeng pipe would probably be a marginal deposit, but the mine, 30% owned by the King of Lesotho, has also yielded the 603 carat Lesotho Promise turned into a $12.4 million necklace (pictured). The 493 carat Letšeng Legacy sold for $10.4 million in 2007 and the 478 carat Light of Letšeng went for $18.4 million in 2008.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2011) - Gem International Resources Inc. (TSX VENTURE:GI) has entered into an option agreement with Mr. Anderson Fred Temu, Mr. Pascal D. Nestory and Mr. Benard Beatus (the "Optionor"), to acquire a 100-per-cent interest in the Mvomero Gold Project, located in the Mvomero and Kilindi districts of Tanzania. The project encompasses Prospecting Licenses PL7138/2011 and PL7147/2011, containing a total area of 234.75 square kilometers and is located 35 kilometers west-southwest of Canaco Resources Inc.'s Magambazi Hill Project.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2011) - Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to report the assays from the forty-three diamond drill holes at the hanging wall copper zone within its Bisha mining license in Eritrea. The hanging wall copper zone is immediately west of the Bisha Main deposit and partially within the current open pit limit but it is not included in the current resource or reserve estimate for Bisha.
PERTH (miningweekly.com) Global law firm DLA Piper on Wednesday estimated that Africa would need an estimated $93-billion infrastructure investment each year. “This is best exampled when you consider there are only 10 000 km of roads connecting African
Most people don't know or care about cobalt. But, as with a number of metals we seldom hear about, we would certainly miss cobalt if it were not available for use in many cutting-edge applications. In this exclusive interview with The Critical Metals Report, Rick Mills, editor of Ahead of the Herd, talks about the supply and demand for critical metals and tells us why cobalt is the "King of Critical Metals."