Canada is tying foreign aid to overseas mining development. It’s touted as “win-win,” but in Burkina Faso there are already some losers.
Under the golden light of the setting Saharan sun, two types of workers shuffle between concrete huts on their way home, still bathed in sweat from a day in the mines.
The miner plans underground operations at North Mara and inked a deal that could see it acquire up to 70%of a project in Burkina Faso.
As if tanking gold prices weren’t enough bad news for Canadian junior gold mining and exploration companies, now one of the more promising gold-mining nations in Africa is in a state of turmoil.
For those that haven’t had access to the internet or TV today, the West African country of Burkina Faso’s government has collapsed and is essentially in complete disarray.
Preliminary assessment of one-year old blind gold discovery at True Gold's Karma property adds $118m in after-tax free cash flow to Burkina Faso project.
Social and environment plan for ultra-high grade Yaramoko gold project approved meaning development could start before the end of the year.
Australia's Orbis Gold upgrades Natougou project's indicated resources 500% for total 2m ounces at 5.1g/t.
Vancouver-based junior stock up 6.5% after step out drilling confirms potential for significant resource expansion at its Karma project.
Later the fleet will be augmented with a second primary excavator and eight additional trucks.
The reservoir will provide sufficient water for the Vancouver-based junior company’s construction and operational needs, as well as for local communities in Burkina Faso.
Stock is up 6% on Tuesday after regional drilling returns 226.8gpt gold over 3.1m including 442gpt over 1.6 metres.
Toronto junior is up 46% this year and feasibility for Yaramoko improves on what was already one of the lowest cost and highest grade projects anywhere in the world.
But it expects to return to profitability by the end of the current fiscal year.
TrueGold Mining adds to 30% gains since early December on Monday after environmental permit for Burkina Faso gold project is granted.
Eight of the 12 fastest-growing economies in Africa in recent years did not rely on natural resources.
Other notable good performers in the 2013 Corruption Risk Index are Senegal and Botswana.
Vancouver-based junior miner discusses exploration and mining in the west African nation.
Vancouver-based Riverstone Resources signed Thursday a deal to acquire Blue Gold Mining, in an all-share deal valued at $30.3 million, which will allow the new company to strengthen its exploration and near-term production activities at properties in West Africa.
Many children and teenagers skip school to work at the gold mines where they can earn $14 during a six-day week workweek.
The West African nation of Burkina Faso is forecasting its gold industry will boost growth next year, but the latest report from UK-based think-tank Exclusive Analysis, warns of increasing risks of kidnap and collateral harm by Islamist groups spreading from northern Mali.
But South Africa's output continues to fall says the Economics Group’s.
The company highlights an after-tax NPV $192 million and IRR 37%.
The Montreal-based company, down 21% following a dive of 17% on Wednesday, were deemed by investors to have overpromised and underdelivered on its exploration results.
Volta puts the details to its five million ounce Kiaka gold project in a prefeasibility study it released on Thursday.
Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company") is pleased to announce the results of a shallow Rotary Air Blast ("RAB") drilling program on the Company's Pompoi permit which is contiguous with and to the east of Roxgold Inc.'s ("Roxgold") Yaramoko permit.
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