Ghana

Win some lose some: Gold Fields delving deeper into Philippines, suspends drilling in Mali

Nick Holland of CEO Gold Fields said on Monday the company has plonked $63 million on a second gold-copper project in the Philippines. The globe's fourth-largest gold miner also announced it is suspending drilling in Mali, Africa's third largest gold producer following a military coup.

Newmont slides after taking $1.6 billion Arctic hit

Shares in Newmont Mining was down 2.7% on Friday after the company announced a $1.6 billion charge after mothballing its Hope Bay project in northern Canada.

Newmont could redirect Conga billions to Ghana if delays continue

Newmont Mining, world number two gold producer, said on Wednesday it has options to spend its capital elsewhere to meet production targets if its $4.8 billion Conga project in Peru does not restart.

Cardero's Ghanaian Partner Issued 3 Prospecting Licenses, JV Agreements Concluded and Exploration Initiated Over Sheini Hills Iron Deposits, Ghana

Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU)(NYSE Amex:CDY)(FRANKFURT:CR5) announces that Emmaland Resources Limited, its Ghanaian joint venture partner ("Emmaland"), has received from the Government of the Republic of Ghana, through the Minister for Lands and Natural Resources (Ghana) ("Minister"), three prospecting licenses covering lands located in the Zabzugu-Tatale District in the Northern Region of the Republic of Ghana, and referred to as the Sheini Hills Iron Project (approximately 400 square kilometres in aggregate).

Residents along polluted river threaten to deal with Newmont

Residents of Kwame Boahenkrom in the Asutifi north district of the Brong Ahafo Region have threatened to deal ruthlessly with Newmont Ghana Gold Limited if they do not halt polluting their water bodies.

Brawl brews over Sheini Hills iron ore mines

A long legal battle is looming over who has the right to mine iron ore in the Sheini Hills at Zabzugu-Tatale in the Northern region of Ghana.

Gold Fields says Ghana tax plan may halt $1 billion projects

Gold Fields Ltd., the fourth-biggest producer of the metal, said Ghana’s plan to raise tariffs on mines and introduce a windfall tax could force it to halt expansion projects worth $1 billion in the country.

Company Announcement: High grade gold intersections at Kanyankaw

Adamus Resources Limited is pleased to announce that its ongoing exploration program has returned positive results from the recent RC drilling program at its Kanyankaw project (22km east of the Nzema Gold Project), located between Tarkwa and the port town of Takoradi.

Keegan Settles Majority Interest of Ghanaian Lawsuit

Keegan Resources Inc. (TSX:KGN)(NYSE Amex:KGN) ("Keegan" or the "Company) is pleased to announce that it has entered into a written settlement agreement with two parties who together hold a 60% interest in the outcome of the litigation commenced in 2009 in Accra, Ghana involving the Company's Esaase Project.

Ghana: Taxes on mining companies to be hiked

Ghana will seek to boost revenues from its mining industry next year by hiking taxes, according to a text of the 2012 budget delivered to parliament.

Ghana budgets for mining tax hike

Ghana will seek to boost revenues from its mining industry next year by hiking taxes, according to a text of the 2012 budget delivered to parliament on Wednesday.

The corporate tax rate on miners will increase to 35% from 25% and a separate 10% tax on windfall profits will be introduced, according to the text.

IAMGold is looking to buy. Are you selling?

Reuters reports Canadian gold miner IAMGold is on the look-out for acquisitions and while it is not itself up for sale, its chief executive said on Friday the company represents good value right now.

IAMGold has in the past said interested in various stage projects, from exploration through to production and just over the last fortnight has put money into three South American juniors. IAMGold produces roughly 1 million ounces per year from operations in Africa and North and South America and sees bullion topping out at $2,000 an ounce this year or next from current levels around $1,790.

West African gold explorer completes Can$81.25 million equity offering

Perseus Mining (TSE:PRU), a West African gold explorer and miner, completed a Can$81.25 million equity offering.

The offering, 25 million ordinary shares at Can$3.25 each, was underwritten by a syndicate of underwriters co-led by Clarus Securities Inc., Dundee Securities Ltd. and CIBC World Markets Inc.

Funds will be used to develop the Sissingue gold deposit at the Tengréla Gold project, as well as for general corporate purposes.

Newmont pays more than $47 million to Ghana government

Newmont Ghana Gold Limited has paid more than $47 million (GH¢71.44 million), representing taxes, royalties and levies for the third quarter of this year, to government.

Dust-up over small gold, diamond explorer involves some big names

A dispute between investment banker Euro Pacific Canada Inc. and Midlands Minerals Corp. (CVE:MEX) is drawing in two of the biggest names in the gold investing industry.

The Globe and Mail is reporting that Euro Pacific Canada is seeking damages of $10 million from Midlands over a breach of contract — an amount that is actually larger than the tiny explorer's market cap of $7.21 million based on today's counter.

Abzu Gold Intersects 4.72 g/t Gold Over 20 Metres in First Drill Program at Asafo Project, Ghana

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 20, 2011) – Abzu Gold Ltd. (TSX VENTURE:ABS)(OTCQX:ABZUF) ("Abzu") is pleased to announce the discovery of a new mineralized zone on its 100% owned Asafo concession located along the eastern …

Perseus Mining progresses Edikan gold mine start up

Perseus Mining Ltd in an update on commissioning at its Edikan gold mine in Ghana said the process plant is currently achieving increasing rates of utilisation (87%) and mill throughput rates have recently been tested to 730t/hr for short periods on fresh/transition ore blends.

Abzu Gold Commences Nangodi Drilling Program, Ghana

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 12, 2011) – Abzu Gold Ltd. (TSX VENTURE:ABS)(OTCQX:ABZUF) ("Abzu") is pleased to announce commencement of drilling at its Nangodi concession, Bole-Nangodi Gold Belt, Ghana (Figure 1: http://media3….

SRK opens Ghana practice

SRK Consulting has opened a practice in Ghana’s capital, Accra. This follows several decades of involvement in West Africa and will consolidate SRK’s position in the region.

State-owned diamond company in Ghana handed over to private investor

The Ghana government handed over state-owned Ghana Consolidated Diamonds (GCD) to a new investor, Great Consolidated Diamond Ghana Ltd (GCDGL), at a ceremony held on Tuesday in Akwatia, 80 km northwest of here.

AngloGold condemned for shooting

AngloGold Ashanti (ANG), the world's third largest gold producer, is in trouble with a human rights group in Ghana after the shooting of a civilian by private security at its Obuasi Mine.

Potash from waste producer makes Canada market debut

Shares in Organic Potash Corporation commenced trading on the Canadian National Stock Exchange on Monday under the symbol "GOP".

Organic Potash Corporation's focus is on the production of potash from the ash of agricultural waste – specifically cocoa husks – at a facility being constructed in Ghana with a 40,000 tonnes annual capacity.

Newmont to up Ahafo in Ghana gold production to 1.2 million ounces

Newmont Ahafo Mine at Kenyase, in the Asutifi District of the Brong Ahafo Region, has targeted to increase its annual gold production to 1.2 million ounces by the year 2014.

The company has spent $22.3 million on its alternative livelihood programmes for 1,700 households and farmers, affected by its mining activities.

Picture of traditional leaders supplied by the Newmont Ahafo Development Foundation.

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.

Abzu Gold options 10 Red Back Ghana concessions from Kinross Gold Corp.

Abzu Gold announced Wednesday that it has entered into an agreement with Red Back Mining Ghana Limited , a wholly owned subsidiary of Kinross Gold Corporation, pursuant to which Abzu has acquired an option on 10 concessions in Ghana.