Africa Mining News

Signature Metals – Significant mineralisation intersected along Ashanti Shear Zone

Signature Metals Limited (ASX: SBL) has received significant initial Aircore drilling results from the Kyekyewere Prospect at the Konongo Gold Project. The Kyekyewere Prospect is located along the Ashanti Shear Zone which hosts significant gold deposits elsewhere in Ghana.

Import window opens for S.African coal, China unmoved

The price of importing South African coal has fallen to be nearly on par with Chinese domestic rates, but Chinese buyers are not biting and are asking for discounts of another $4 per tonne at least, trade sources said.

Petra Diamonds mine revenue up

Diamond producer Petra Diamonds on Tuesday reported a 24% increase in gross mine revenue to US$220.6 million for the year ended June 2011, mainly due to the steady increase in rough diamond prices from October 2010. Revenue of US$90.0 million in the

Ikwezi Mining focused on South African coal, IPO hits ASX boards at 10 pct premium

Ikwezi Mining (ASX: IKW) has been admitted to the ASX after a successful IPO which offered 150 million shares at $0.20 to raise around A$30 million.

Botswana Metals hits high grade copper silver at Dibete, near Airstrip prospect in Botswana

Botswana Metals (ASX: BML) has intersected high grade copper and silver from a 6000-metre drill program completed at the Dibete prospect in Botswana, adding weight to the resource estimation study set to be carried out following the next phase of drilling.

MDM awarded process and engineering design for gold recovery plant, South Africa

MDM Engineering Group Limited (“MDM”) has been awarded the Process and Engineering Design to BFS level for a modular gold recovery plant for Taung’s Evander 6 shaft project.

Nuinsco to acquire majority stake in gold company with Sudanese concession

Nuinsco Resources Ltd. (TSX:NWI) announced Monday it has an option agreement to acquire an 85 per cent interest in UAE Gold, which owns the J. Tobar concession in northeastern Sudan.

Allana Potash supports East Africa's famine and drought relief efforts

Allana Potash Corp. CA:AAA -0.73% announces today its support to the relief efforts following the drought and resulting famine inEast Africa with a pledge of $100,000 to the Ethiopian government.

SEMAFO drills 4.29 g/t Au over 25 meters at Mana's Fofina Area – consistent values and widths confirm high-grade mineralization

SEMAFO (TSX: SMF) is pleased to provide an update on ongoing delineation drilling at Mana's Fofina area, a deposit that was discovered in 2010.

Marenica Energy – Progress Update: Marenica Uranium Project, Namibia

International uranium company Marenica Energy (ASX: MEY) is pleased to provide an update on ongoing resource in-fill and exploration drilling programs at its flagship 75%-owned Marenica Uranium Project located in Namibia, southern Africa. Drilling was

China's Hanlong makes $1.5 billion bid for Sundance

China's Sichuan Hanlong Group made a bid to buy out the shares it doesn't already own in West African iron ore exploration company Sundance Resources, valuing the private conglomerate at A$1.4 billion ($1.5 billion). Last week, Hanlong, which is seeking to expand its reach in global resources, launched a A$144 million takeover bid for Bannerman Resources, which is looking for uranium in Namibia.

Metmar boosts stake in Eastern Belt Chrome to 80 pct

JOHANNESBURG (miningweekly.com) Commodities trader Metmar has entered into R61.4-million transaction to buy a further 60% of Eastern Belt Chrome Mines, taking the its ownership to 80%, the JSE-listed company said on Monday. Metmar would settle

Rio workers return to work in Namibia

WINDHOEK - Workers at Rio Tinto Ltd's Rossing uranium mine in Namibia have returned to work after a three-day illegal strike, the company said, while talks to resolve the wage dispute are set to resume. "The strike is over and the workers are back at

Zimbabwe Chiadzwa diamond fields watchdog rejected by mines minister

Mines Minister Obert Mpofu has rejected the monitor nominated by civil society to oversee operations at the Chiadzwa diamond fields, saying the appointment is null and void. The proposed watchdog is part of ongoing efforts to legitimise Zimbabwe's diamond trade, which was suspended in 2009 over human rights concerns at the Chiadzwa diamond fields. These concerns are still high with ongoing reports of rights abuses and rampant smuggling, all at the hands of the military, which maintains tight controls of the entire area.

Tanzania gold export receipts up 18% year to April 30

The value of Tanzania's gold exports jumped 18% in the year to April 30 due to increased prices on the international market, the Central Bank of Tanzania said Saturday.

Forbes Coal gets ready to list

Forbes Coal, the Canadian bituminous coal and anthracite producer which plans to list on the JSE later this month, wants to triple production at its two projects in Dundee, KwaZulu-Natal, to take advantage of booming demand.

Aura confirms first uranium resource in Mauritania: 50 million pounds

Aura Energy Limited’s (ASX Code AEE, “Aura”) confidence in the greenfields Reguibat Project in Mauritania has been confirmed by the announcement of the first JORC-code compliant resource. The Inferred Resource of 50.2 million pounds at 330ppm U3O8 on the Reguibat Project was based on a cut-off grade of 100ppm U3O8 (Table 1). 48.9 million pounds of this resource are contained in permits 100% held by Aura.

Lucara says South Africa strike affecting Botswana diamond project

Canada's Lucara Diamond Corp, building the AK6 mine in Botswana, said on Friday strike action in South Africa’s steel sector was delaying deliveries to the project, though it did not yet know the full impact on the mine's schedule. AK6 was on track so far, being 60% complete. The company’s other projects include Mothae Diamond Project, located in Lesotho, and Kavango Project, located in northeast Namibia.

Tshepong mine still shut- Harmony Gold

Harmony Gold said on Friday that its Tshepong mine in South Africa remained shut and that lost production was expected to be 20 to 25 kgs of gold per day. South Africa's third largest gold miner said on Tuesday operations at Tshepong had shut after a worker died there following a rock fall.

DRDGOLD guidance for year ended 30 June 2011

Shareholders are advised that DRDGOLD expects its group gold production for the year ended 30 June 2011 (FY2011) to be about 10% higher than in the previous year, at around 265 200oz. Cash operating unit costs for FY2011 are expected to be about 8% higher. It is estimated that capital expenditure for FY2011 will be about 70% higher than the previous year, reflecting the continued development of the Crown/Ergo pipeline.

Anglo Gold Plans to sell Savuka mining area to Blyvooruitzicht Gold

AngloGold Ashanti confirms that it has offered to sell, some 390,000 square metres of its neighbouring Savuka mining area for a consideration of R35 million, to Blyvooruitzicht Gold Mining Company, subject to the finalization of a binding agreement. The

Report: threat of army takeover looms large in Zimbabwe

Neighbour South Africa's influential Business Day reports as Zimbabwe’s shaky unity government inches ahead with extensive electoral reforms ahead of fresh elections now expected next year, the prospect of the country’s army seizing power looms large. In recent weeks, the military’s top brass has taken on a visible role in the country’s political affairs and has been brazenly opposed to security sector reforms. The military seized control of Zimbabwe's rich diamond fields in Chiadzwa in 2006 and most observers believe an international ban on these gems are being widely flouted.

AngloGold Ashanti to sell Congo mining area

South Africa-based gold miner AngloGold Ashanti Ltd. said Thursday that it offered to sell 390,000 square meters of undeveloped land next to its Savuka mine for 35 million rand ($5.1 million) to Blyvooruitzicht Gold Mining Co.

South Africa mining sector outlook worsens

Business Live reports the outlook for the South African mining sector has worsened in recent weeks, economists from Nedbank said on Thursday. According to Statistics SA, growth in mining production slowed to 9.6% year on year (y/y) in May from 12.0% y/y in April. Gold output fell by 5.8 % y/y and was down by a seasonally adjusted 3.6% month on month (m/m), while non-gold output was dragged down by declines in platinum group metals, which declined 9.9% m/m, and coal, which was 6.3% lower m/m.

Rio Tinto says Rossing strike in 3rd day, illegal

It also said in a statement that the strike was illegal and it was hoping to bring in measures to allow workers who wanted to return to their jobs to do so. "The situation has not normalized despite the undertaking that was made ... between the company