Originally touted as a 'model of successful resource diplomacy' Korea's successful 2010 bid for a diamond project in Cameroon now appears to have been an elaborate scheme that netted company insiders and senior government officials at least $70 million in stock trading profits.
Africa Mining News
More international firms are eying uranium mining in Tanzania despite worries and concern from the Tanzanian general public, international environmental NGOs and western capitals over mining repercussions that could come with this activity.
As attractive deposits become harder and harder to find in traditional markets miners are pushing the limits of the political risk they are willing to take on. But things can go spectacularly wrong.
The Australian interviews investment bank Renaissance Group founder Stephen Jennings about investing in Africa. The New Zealand-born billionaire made his money in emerging markets, specifically Russia, in the 1990s, and tells the paper "sub-Saharan Africa will be one of the few markets globally offering real growth in the next few years."
Zambia Daily Mail is reporting that a mining licence will soon be issued for a lead-zinc mine.
MINING.com reader Julian Poniewierski, Principal Mining Engineer at PanAust Limited, has some insights into what could have gone wrong with Areva's 2007 purchase of Uramin, specifically the Namibian properties.
Namibia Rare Earths (TSX: NRE) is pleased to announce that a 6,000 meter diamond drilling program has started with two drill rigs focused on the delineation of a first mineral resource from Area 4 on the Lofdal Rare Earth Project in northwestern Namibia. Concurrent with the drilling program, an induced polarization geophysical survey will be undertaken over prospective extensions of the favourable heavy rare earth-enriched structure emanating from Area 4. The drilling program is scheduled to be completed by the end of April with delivery of the NI 43-101 compliant mineral resource report in the third quarter of 2012.
Impala Platinum Holdings (JSE:IMP), a leading producer of PGM and responsible for 25% of global platinum output, is losing its CEO.
TORONTO, ONTARIO--(Marketwire - Jan. 18, 2012) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announces its preliminary operational results for the year ended December 31, 2011. The numbers stated below are preliminary and subject to final adjustment.
South Africa’s mining production dropped by 4.6% year-on-year in November, compared with a decline of 12% in October, Statistics South Africa reported on Tuesday.
Newmont Mining, the world's fourth-largest gold miner, says it plans to spend $3.0 to $3.3 billion on capital expenditures in 2012.
South African platinum group metal production was down 2.7 percent for the three months ended November 2011 compared with the three months ended August 2011.
The company has sold its Spitzkop and Tselentis coal collieries in South Africa to the Imbawula group for an undisclosed amount, adding that there would be no job losses as a result of the deal.
Allana Potash Files Preliminary Economic Assessment Technical Report for Its Danakhil Potash Project
Allana Potash Corp. (TSX:AAA) (OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report dated November 28, 2011 on SEDAR at www.sedar.com.
Aim-listed London Mining on Monday slammed a $650-million lawsuit by joint venture partner Wits Basin Precious Minerals as a tactic to avoid repaying its loan.
Forbes Coal Reports Revenue of $31.2 Million in Fiscal Third Quarter 2012, an Increase of 245% Year-Over-Year
Forbes & Manhattan Coal Corp. (TSX:FMC.TO - News)(JSE:FMC.TO -News) ("Forbes Coal" or the "Company") is pleased to announce its fiscal third quarter 2012 financial results for the three months ended November 30, 2011.
Xstrata Coal South Africa (XCSA) is pleased to announce that it has completed the sale of its Spitzkop and Tselentis collieries and supporting coal assets, located in Mpumalanga, South Africa, to the Imbawula Group (Imbawula) for an undisclosed amount.
Volta Resources (TSE:VTR) Monday announced drill results from nine holes as part of its on-going phase 3 program at its flagship Kiaka gold project in Burkina Faso.
Recent trips to Africa have bolstered Chris Welch's conviction that mining plays in Africa are being overlooked, but it's not too late for investors to get in on the ground floor.
Rwanda is pushing investors who have booked space in its newly developed special economic zone to quickly roll out projects to spur growth in an uncertain year.
Details emerging from investigations into Areva's purchase of African uranium miner UraMin are beginning to resemble a spy novel.
Despite a warning by South Africa's power utility that supply would be extremely tight this month, the country's platinum miners are confident there will be enough to power their mines.
Mining major BHP Billiton’s South African energy coal unit Becsa has suspended mining activities at the underground operation of its Khutala colliery near Witbank, after a fatal accident on Thursday.
The Zimbabwe Mining Development Corporation has discovered gold and massive iron ore deposits at its emerald and tantalite Sandawana Mine in Mberengwa District.
Columbus McKinnon Corp, a leading designer, manufacturer and marketer of material handling products, has acquired 100% of the shares of privately-held Yale Lifting Solutions located in Magaliesburg, South Africa.