Africa Mining News

Goldplat flags “significant” hike in operating profits

Goldplat ( LON:GDP ) put out a very encouraging update saying its two gold recovery operations have been performing strongly and that it expects to post a “significant increase’ in full year operating profits. Trading across its two gold recovery businesses in South Africa and Ghana and its Kilimapesa gold project in Kenya was stronger in the second half than in the first.

Hana Mining updates drilling at copper-silver Project in Botswana

Hana Mining announced Tuesday its most recent drilling results from the completion of 13 infill diamond drill holes at the Banana Zone at its Ghanzi sediment hosted.

Endeavour, Adamus merge into West African gold producer

Shares of Endeavour Mining were up 6.15% on the TSX on Monday, after the Canadian company agreed to buy Australia's Adamus Resources, which gained 9% on the news.

India to consider banning chrome ore exports to China

According to the CEO of Albanian Minerals, India and South Africa are mulling a ban on raw chrome exports to China in a bid to keep local ferrochrome producers competitive ... Read the full story at Mine Web

Aquarius Platinum still in talks over Mimosa operation

The platinum miner said Monday it was still in talks with the Zimbabwean capital over a key deadline after its indigenization plan was rejected last week.

Australia miners taking another look at Uganda

Four years after Hardman Oil sold its stake in Uganda's oil industry, Australian firms are taking a second look at the country with the appointment of an honorary consul to Kampala.

Anglo American's fight for largest iron ore mine in Africa turns ugly

South Africa’s Department of Mineral Resources, defending itself in court after awarding prospecting rights to a company linked to President Jacob Zuma’s son, will seek criminal charges against the plaintiff Sishen, part of Kumba Iron Ore, a company controlled by Anglo American. Kumba and Indian iron ore giant ArcelorMittal are asking the High Court to overturn the award of prospecting rights for the Sishen mine to Imperial Crown Trading 289, whose owners include Jagdish Parekh, a business partner of Duduzane Zuma. Kumba says it’s the only party eligible for the rights to the nation’s largest iron ore mine.

Canada's Caledonia contests Zimbabwe licence withdrawal

Caledonia Mining, which owns Blanket Mine near Gwanda, on Friday said Youth Development, Indigenisation and Empowerment minister Saviour Kasukuwere acted outside his ambit in asking the ministry of mines to cancel the company’s operating licence. The company noted that the mine was operating normally. The move follows reports that Kasukuwere had rejected various foreign-owned companies plans for “indigenising” their operations in the country, or transferring at least 51% ownership to locals. The news knocked 17% of Caledonia’s share price on the TSX, which fell to C$0,075 by close of trade on Friday.

Zimbabwe gives mines 14-day deadline to hand over majority

Zimbabwe's government has given foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits, state media reported on Friday. However, immediately thereafter the country's central bank governor Gideon Gono launched a scathing attack on the minister responsible for the indigenization policy saying the threats “could irreparably harm the nerve-centre of the recovering economy.” Before a new unity government in 2009 Zimbabwe economy had shrank by as much as half over the preceding decade amid hyperinflation, property seizures and civil unrest. The country is the number two platinum producer in the world and rich in gold and diamonds.

Anglo American said to weigh counterbid for Macarthur Coal

Anglo American is exploring a bid for Macarthur Coal that would challenge Peabody Energy Corp.’s $4.9 billion offer for the Australian miner, said two people with knowledge of the matter. Anglo American, part owner of the world’s biggest platinum and diamond producers, is studying Macarthur’s finances, said one of the people, who declined to be identified as the talks are private. Buying Brisbane-based Macarthur would give Anglo steelmaking-coal mines in Australia as prices trade near a record. Peabody and its bidding partner, ArcelorMittal, took their offer directly to Macarthur shareholders after talks with the board collapsed.

Tantalum miner Noventa places $30 million, asks investors for $7 million more

London and Toronto-listed Noventa announced Friday that it placed 73,600,000 new ordinary shares at a price of 25 pence each with institutions and other investors to raise roughly $30.3 million. The specialty metal miner with operations in Mozambique is also extending an offer to shareholders to subscribe for a total of 17,500,000 new ordinary shares to raise up to a further US$7.2 million. In London stock in Noventa duly plunged 24% to 27.75 pence in line with the placing price of 25 pence.

NUM says Implats wage offer too low

JOHANNESBURG (miningweekly.com) Wage negotiations between the National Union of Mineworkers (NUM) and the world's second-largest platinum miner Impala Platinum (Implats) broke down on Friday. NUM spokesperson Lesiba Seshoka told Mining Weekly Online that

Copper & gold intercepts in Burkina Faso for Golden Rim (GMR)

Golden Rim Resources Ltd (ASX: GMR) today announced copper and gold intersections from the second program of reverse circulation (RC) drilling (Phase 2 Program) on its Balogo Project in Burkina Faso. The best new intersections include: 14m at 2.56 g/t

Zimbabwe gives foreign firms empowerment ultimatum

Zimbabwe's government has given foreign firms, including mines and banks, a 14-day ultimatum to submit "acceptable" plans on how they propose to transfer majority shares to locals or risk losing permits

India’s CIL starts coal mine development in Mozambique

Marking its international foray, Coal India Africana Limitada (CIAL), a wholly-owned subsidiary of Coal India Limited (CIL), would shortly start exploratory and development work at the two coal blocks in Mozambique’s

Congo sold mines at fraction of value

Democratic Republic of Congo's government has sold its minority stake in two confiscated copper mining projects for $30-million, well below their estimated value, according to a senior lawmaker and documents seen by Reuters this week.

Production and investment forecasts in the Namibian mining industry: uranium set to overtake diamonds as Namibia's largest foreign currency earner

Research and Markets (http://www.researchandmarkets.com/research/5cb789/production_and_inv) has announced the addition of Frost & Sullivan's new report "Production and Investment Forecasts in the Namibian Mining Industry" to their offering. This research

Newcrest wants all of billion tonne Wafi-Golpu

Mining Review reports Newcrest Mining CEO Greg Robinson told reporters on Friday it would acquire Harmony Gold Mining’s 50% stake in their massive Wafi-Golpu joint venture in Papua New Guinea if it was for sale. Last month Harmony Gold upgraded the resource estimate for Wafi-Golpu increasing it by 57% to over 1 billion metric tons, making it one of the highest grade copper-gold porphyry systems on the planet. Rumours about a possible sale by Harmony have been swirling for months and estimates of the value of the mine forecast to start production only in 2017 have bounced up and down with one investment bank pegging it at $9.9 billion.

Junior reports better than expected results at Zim and DRC projects

UK mining junior Mwana Africa reports the company has achieved better than expected results at its Freda Rebecca gold project, in Zimbabwe, and its Zani Kodo gold project, in the Democratic Republic of Congo.

In Sierra Leone youths riot over iron ore

Police in Port Loko have confirmed that dozens of youths were arrested at the Sanda Magbolotor Port Loko district, including a Councillor and the driver of a Member of Parliament as a result of a massive riot perpetrated by the youths few days ago following the discovery of iron ore deposits in a village in Port Loko.

Fracking: Gold mine or the Karoo's doom

"Shouldn't we at least find out what's in our own backyard before we make any decisions?" asked Maarten de Wit, head of earth stewardship science and the Africa Earth Observatory Network at the Nelson Mandela Metropolitan University. The South Africa government has placed a moratorium on fracking, pending the outcome of an investigation into the process and consultation with the public

China wants to break grip of iron ore big three with West Africa projects

China, the world's largest consumer of iron ore, aims to develop and control resources, especially in west Africa, to gain a foothold on supply and tackle the hegemony of three iron ore suppliers – Rio Tinto , BHP Billiton and Vale. Chinese firms have signed a number of iron ore deals in Africa, which at their peak could contribute nearly 250 million tonnes of iron ore when they come on stream in the medium to long term.

S.Africa's Exxaro sees flat coal output in H2

9:36am BST JOHANNESBURG, Aug 18 (Reuters) - South African diversified miner Exxaro said on Thursday that it expects production difficulties to keep coal output in the second half unchanged compared to the previous six months. South Africa's

AngloGold halts some work at Moab Khotsong Mine after fatality

JOHANNESBURG -(Dow Jones)- AngloGold Ashanti Ltd. (AU), Africa's largest producer of the precious metal, Thursday reported a fatality at its Mponeng Mine in South Africa overnight and halted some work in the area to carry out an investigation. AngloGold

Namibia abandons draconian mine tax plans

A day after news of an onerous new mining royalty and taxation regime in Peru, Namibia, the world’s biggest miner of offshore diamonds and a top four uranium producer, drops plans for a huge jump in the corporate tax rate for miners and mineral export levies. Deputy Finance Minister Calle Schlettwein said on Wednesday, the country has withdrawn a proposal to increase the tax on non-diamond miners to 44% from 37.5% and will instead propose a windfall tax when international prices for the commodities are high. Namibia was one of 25 countries around the world that recently announced their intentions to increase their take of the mining industry’s profits or impose ownership and other restrictions.