Timis's Pan African Burkina Limited (PAB) acquired the rights to the Tambao mine, which it says holds 100 million tonnes of manganese reserves, in June 2012.
Burkina Faso Mining News
Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts.
Firm said the $412-million construction project to upgrade the Ivory Coast-based gold mine remained on-time and on-budget.
The three-times delayed $5 million-deal should help the miner dodge bankruptcy for its units in the West African country.
Company has opened negotiations with local people in Ivory Coast in an effort to head off protests at two gold mines where the company aims to boost production by nearly 4% this year.
The Minister of Mines said his decision will be in place until the border with Niger is physically demarcated. However, violence has increased in the area in past months.
Vehicles were carrying fuel to the company's Inata gold mine.
The Ity mine, in Côte d’Ivoire, has produced more than 1.2 million ounces of gold in its over 20 years of operations.
Once Banfora is up and running, it would take the company's annual gold output to between 300,000 and 350,000 ounces.
African gold miner Randgold on Thursday reported a 53 percent rise in half-year profit and a mounting cash pile, and said it was well on the way to developing projects that will position it for an eventual increase in demand.
The Rakounga Gold concession is a 250 sq km property contiguous to the company's 2nd gold project — Bouboulou.
IAMGOLD (TSX:IMG) is taking a further step towards diversifying its power needs into renewable energy, with a plan to install at 15-megawatt-peak (MWp) solar power plant at its Essakane mine in Burkina Faso.
The company's mission includes a commitment to ensure communities are better off as a result of its presence.
A drill program at the mine's North Kao deposit has added 262,000 ounces to the reserves, extending Karma's life to more than 10 years.
The company, which earlier this month revealed is in merger talks with African gold producer Acacia Mining, expects to produce between 600,000 and 640,000 ounces of the precious metal this year.
Year to date, the company has produced 408,000 ounces of gold from its five mines in Mali, Côte d’Ivoire, and Ghana, which represents a 8% increase compared to the same period in 2015.
Vincent Benoit will assume the newly created position of Executive Vice President, Chief Financial Officer and Corporate Development effective November 1.
After a difficult first half, Nord Gold's now set up for over 1.2moz per year after start-up at Bouly mine in West Africa and major Russian development.
Montreal-based producer expects to produce more than 400,000 ounces by 2019.
The Ity mine has produced more than 1.2 million ounces of gold in its over 20 years of operations and Endeavour is working on extending the mine life by at least another 10 years.
Gold output reaches 35,753 ounces at an average mill feed grade of an eye-watering 15.44 g/t gold at the Burkina Faso mine entering commercial production.
Once the open pit Houndé mine is operational, Endeavour will add 190,000 ounces to its gold output per year.
B2Gold’s stock has gained almost 229% so far this year.
The Company issued a total of 7,187,500 ordinary shares in the capital of Endeavour ("Shares") at a price of C$20.00 per Share, which includes the exercise of the underwriters’ over-allotment option in full, for aggregate gross proceeds of C$143.75 million (the "Offering").
Shares in Toronto junior up sharply after adding 220,000oz to ultra high-grade Yaramoko project in West Africa expected to pour first gold in June.