The Africa-focused miner needs funding to complete the acquisition of the Mothae project and to repay short-term debts, including £500,000 due this week.
Upon investment of the full amount, IDC will hold 15% of the class A shares of Alphamin DRC or 14.25% of Alphamin DRC as a whole.
Lucara Diamond Corp. is pleased to report revenues of $90.9 million for the quarter with an operating margin of 88% and revenues of $158.6 million for the nine months to September 2015.
The firm, debt-free despite current market conditions, mined a record 305,288 ounces in the third quarter, up from 299,320 a year earlier.
The radical decision would make of the platinum producer the biggest casualty of the ongoing commodity rout that is hurting miners worldwide.
The stock ignored news from Zambia where President Edgar Lungu said he would not allow the firm to lay off workers at its Mopani Copper Mine, as it mothballs it for 18 months.
The drastic move makes of Codelco the mining company that has let go the highest amount of workers in Chile since copper prices began their decline over a year ago.
Over 35 industry leaders and over 150 delegates in attendance at the MEGJF including Damas, Malabar Gold & Diamonds, Dhamani and Fabergé
At least 1.6-million people live in informal settlements around Johannesburg, many of them on or near mine waste sites, plagued by illegal miners and controlled by armed bands.
The world’s third-largest platinum producer is also planning layoffs, cutting capex and lowering unit costs.
The importance of going beyond environmental considerations when planning the lifecycle of mines to include socioeconomic considerations was a key topic discussed at the last UNCTAD meeting.
It all began about 900 million years ago.
In 2011, during the peak of the so-called “mining boom”, the sector was worth nearly US$2.5 trillion.
The number of registered artisanal miners, or barrequeros, inside Colombia now top 100,000 and production should keep rising.
Shares in fast-growing producer surge after drill results at Cote d'Ivoire "free dig" mine provide extensions of oxide mineralization and fresh resources.
Mark Simmonds has been appointed Director of the Company with effect from 10 November 2015.
The situation, says the ratings agency, won’t change over the next 12 to 18 months, and metal prices may fall even further.
The Australian Government has been called on to take more notice of the nation’s important economic footprint in Africa.
Rick has seen too many cycles to answer a question like that.
The Vancouver-based miner estimates that Kamoa, discovered in 2007, holds the equivalent of at least 45 million tonnes of pure copper.
True Gold Mining's low cost Karma project in West Africa is ahead of schedule.
Prices for the precious rocks have fallen almost 12% in the past year, amid weakening diamond jewellery demand from China, the second largest consumer after the U.S.
State-run Coal India is looking to acquire mines to feed its expanding steel industry.
The mine produced 526,627 ounces in its first full year of operation in 2014, and was expected to yield 600,000 ounces this year.
According to research house Wood Mackenzie, the need for investment is becoming desperate in zinc and lead and will be a major issue in the copper sector in the next few years.
The dramatic fall in overall market capitalization reflects, according to PwC, the impact of the ongoing commodities rout and other challenges the local industry has faced in the last year.
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