DRC

Randgold's giant Kibali gold project construction getting well under way

Randgold Resources seems to be on track with its construction programme on its major Kibali gold mine development in the eastern DRC, aiming for initial production before the end of 2013.

Billionaire behaving badly? Glencore's Glasenberg caught in Africa child labour, acid dumping row

In a scathing new BBC documentary that includes the first ever television interview with CEO Ivan Glasenberg, commodities trader Glencore is accused of allowing dumping of acid into streams, child labour and deadly underground working conditions at its copper-cobalt mine in the Democratic Republic of Congo.

Banro shuffles board as stock losses mount

The DRC gold miner is now down more than 25% from a high of $5.68 hit seven weeks ago.

The scramble for Africa's copper: Never mind the Chinese, Ivanhoe's Friedland says he has the prize asset

Serial mega-mine developer Robert Friedland said in early February that Ivanplats will be developing the Kamoa mine in the DRC, Africa’s largest copper project that will have a lifespan that can be “measured in generations as opposed to decades.”

Success in the DRC: Investors line up for Banro already up 50% in 2012

Banro's Twangiza oxide mine poured its first gold Q4 2011and it owns four additional licences along the same rich gold belt in the east of the country. After bumping up its debt offering to $175 million on Friday the company says it can now start building a second oxide mine.

China further entrenched in Africa with Minmetals' Anvil acquisition

In what is being regarded as the first major African mining play by a Chinese company, China Minmetals succeeded Friday in closing its $1.3 billion bid for copper miner Anvil Mining.

Loncor Resources Reports Further High Grade Intersections at Its Makapela Prospect in DRC

Loncor Resources Inc. (the "Company" or "Loncor") (TSX VENTURE:LN)(NYSE Amex:LON) is pleased to announce further encouraging drilling results at the Company's Makapela prospect, Ngayu Gold Project, northeastern Democratic Republic of the Congo (the "DRC").

Death of DRC mining go-to guy will reshape country's resource sector

Augustin Katumba Mwanke, the former governor of copper-rich Katanga province and go-to guy for resource deals, was seen by many as the power behind the throne.

Ivanplats says DRC copper project Africa’s largest

Ivanplats CEO Robert Friedland said on Wednesday his company was developing Africa’s largest copper project in the Democratic Republic of Congo (DRC).

Banro Announces US$125 Million Debt Financing

Banro Corporation ("Banro" or the "Company") (NYSE Amex:BAA)(TSX:BAA) is pleased to announce that it intends to proceed with a brokered private placement debt offering for gross proceeds of up to US$125 million.

TORONTO, ONTARIO–(Marketwire – Feb. 6, 2012) – Banro Corporation ("Banro" or the "Company") (NYSE Amex:BAA)(TSX:BAA) is pleased to announce that it intends to proceed with a brokered private placement debt offering for gross proceeds of u…

Obama trade adviser + basketball star + warlord = Gulfstream V loaded with 1,000 pounds of gold

A new UN report says a US trade adviser appointed by Barack Obama orchestrated a $20 million deal to buy 1,045 pounds of gold in eastern DRC from warlord Bosco Ntaganda, wanted for war crimes since 2006. The botched deal by Houston oil tycoon Dr. Kase Lawal also involved his brother and former basketball star Dikembe Mutombo.

Randgold – Kibali Project in the Starting Blocks

Preparatory work has been completed at the Kibali gold project in the Democratic Republic of Congo, where first gold production is scheduled for the end of 2013.

How whetted is your risk appetite? Gold diggers explore the final frontiers

As attractive deposits become harder and harder to find in traditional markets miners are pushing the limits of the political risk they are willing to take on. But things can go spectacularly wrong.

Atomic Anne, her husband and the dubious $2.5 billion African uranium deal

Details emerging from investigations into Areva's purchase of African uranium miner UraMin are beginning to resemble a spy novel.

First Quantum gets out of Congo with $1.25 billion asset sale

First Quantum Minerals, the Vancouver-based copper miner embroiled in a dispute with the Congolese government over expropriation of one of its key assets, has sold its mines in the Central African country.

African Metals says startup of processing plant in DRC delays by weather, unrest

The assembly of an African Metals Corp. (TSXV:AFR) processing plant at its Luisha South copper-cobalt project in Congo is now expected to be completed in January following delays caused by rainy weather and political unrest.

Minmetals confident amid DRC election chaos, extends Anvil takeover offer again

Anvil Mining, a copper producer in the Democratic Republic of Congo, announced Wednesday China's Minmetals Resources has extended its $1.3 billion takeover offer for the second time, to January 11 next year. The extension comes as violence and allegations of vote rigging mar the DRC presidential election, for which full results is now only expected later this week. Anvil is also undergoing an audit of its leases with the DRC's state-owned Gecamines.

China's Minmetals extends offer for Anvil to Dec 9

China's Minmetals Resources Ltd has extended its $1.3 billion takeover offer for Africa-focused copper miner Anvil Mining Ltd by two weeks to Dec. 9.

This comes after Anvil warned last month that the offer may not be completed if the company failed to agree with its partner, state-owned Democratic Republic of Congo miner La Generale des Carriere et des Mines Sarl (Gecamines), on contractual arrangements.

Katanga gets $635 million to build world's largest cobalt mine

Katanga Mining announced on Friday it has secured $635.5 million in new loan facilities from parent Glencore International to fund the expansion of its Democratic Republic of Congo copper-cobalt mine. The Toronto-listed firm wants to bump copper production to 270,000 tonnes per annum and thereafter bump it up to 310,000 tonnes from cash flow.

The company is already ramping up copper production with financials results also out on Friday showing year to date copper in ore mined was 157,658 tonnes, a 96% increase over 2010. Cobalt produced fell 30% to 593 tonnes, but that was in line with expectations. Katanga says with the expansion the DRC complex it could become Africa's largest producer of copper and the world's number one cobalt mine.

Kilo Goldmines Closes C$10.4 Million Private Placement

Kilo Goldmines Ltd. (TSXV:KGL.V)(Frankfurt:02K.F) ("Kilo" or the "Company") is pleased to announce that it has closed its previously announced brokered and non-brokered private placement financings (the "Offerings").

DRC's corrupt mining industry highlighted on website

The Guardian reports the U.S.-based Carter Center has launched a website to shine a light on the corrupt mining industry in the Democratic Republic of the Congo:

Kilo Goldmines C$10 million private placement fully allocated

Kilo Goldmines Ltd. (TSX VENTURE:KGL)(FRANKFURT:02K) ("Kilo" or the "Company") is pleased to announce that the private placement financings previously announced on October 18, 2011 are fully allocated (collectively, the "Offering"). The Company expects to raise gross proceeds of C$10,000,000 through the issuance of common shares on a "best efforts basis" at a price of C$0.20 per common share. The number of common shares offered pursuant to the Offering may be increased to meet over-subscriptions.

Randgold up 7% after shooting the lights out in West Africa

Shares of Randgold Resources, a pure-play gold mining company focused on west and central Africa, soared 7.4% Wednesday after announcing third quarter production increased 80% and sales jumped to $309.6 million from only $116.3 a year ago.

Despite a once-off drop in gold sales from the previous quarter following instability at its Tongon mine in the Ivory Coast where it has been producing for one year and what it described as once in a century rainfall at its Loulo/Gounkoto operations in Mali, third-quarter income increased more than four-fold to $106.8 million.

$1.3B African copper takeover threatened

The takeover of Anvil Mining (TSE:AVM), an African copper producer, by Chinese company Minmetals Resources Ltd, could be in jeopardy.

Anvil warned on Monday that the $1.3 billion deal may not be completed if the company fails to come to an agreement with partner Gecamines over contractual arrangements.

According to the news release, La Générale des Carrières et des Mines Sarl (“Gécamines”) told Anvil that the takeover offer would trigger a review of the lease agreements with Anvil over the Kinsevere project in the DRC. State-owned Gécamines holds the leases to the mineral tenures.

Australia approves $1.3B Anvil Mining takeover

The Australian government has approved the $1.3B takeover of Anvil Mining (TSE:AVM) by China-based Minmetals Resources Ltd.

The deal announced on September 30th required approval from the Australian Foreign Investment Review Board for the acquisition.

The Minmentals offer of C$8 per Anvil share in cash represents a 38% premium on the $5.79 price the market was offering before the acquisition was announced last month. Anvil was trading at around $7.83 on Monday.