Funds allowed Norgold to both extend Lefa mine’s life and improve efficiencies at the operation.
Guinea Mining News
Guinea expects to boost its energy production capacity by nearly four-fold over the next six years as it pushes mining companies to refine their bauxite output locally.
The move will hand Alpha Conde more authority over the country’s holdings in some of the world’s biggest bauxite deposits.
Niron Metals, an investment vehicle co-founded and headed by Davis, has struck a deal with Liberia allowing it to use a rail and port to export iron ore from Guinea's Zogota iron ore deposit.
"A good agreement is much better than any war."
Project offers Davis an opportunity to relaunch his mining career that started in his native South Africa.
The Russian gold producer has received a 15-year mining permit for its Lefa mine.
Simandou is one of the world's biggest iron deposits, containing billions of tonnes of high-grade ore, but development has been complicated by its location far from the coast.
Rio said it would postpone any short- and long-term incentives owed to Sam Walsh for a minimum of two years. Rio is now planning to extend that time period.
Rio and Chinalco have decided to explore other options to realize value from the project.
Mining companies are upending rural communities and undermining air and water quality while government authorities fail to rein in abuses.
Operations have resumed at AngloGold Ashanti's Siguiri gold mine in Guinea
Fitch Solutions Macro Research states that bauxite production growth will remain high over the coming years, as new projects come online in Australia, Indonesia expands exports, India’s production ramps up, and existing projects in Guinea drive growth.
Members of a local community near our Siguiri mine have been protesting the temporary rationing of power, which is an unfortunate necessity.
Rusal commissions bauxite mine at Dian Dian.
Guinea’s President Alpha Conde appointed a new 33-member cabinet in which Abdoulaye Magassouba was retained as mines and geology minister.
The company had already lost between one million to 1.2 million tonnes of scheduled bauxite production because of the strike.
Guinea is Africa's top bauxite producer and output more than doubled last year to about 50 million tonnes.
The information was made public by The Wall Street Journal, whose journalists had access to a procedural order.
Anti-government sentiment is set to further escalate in the run-up to the legislative election in September, and mining firms are likely to experience even more disruption as many blame them for the state’s failure to contribute to their wellbeing.
Under the deal, Newfield will lend Stellar $3 million to help it over its immediate short-term cash needs, while undertaking a right issue to raise A$30 million (roughly $23.6m) to re-finance the blended company.
As well as facing legal action, BSGR, which denies any wrong-doing, is suing financier George Soros for $10 billion in damages over lost contracts.
Miner posted a net loss of $984,928, compared to a $663,145 loss a year earlier, due to an increase in costs of developing its Tongo-Tonguma diamond project in eastern Sierra Leone.
Funding for the project has not been secure yet, though the miner is in talks with Newfield Resources over a possible offer.
Guinea has about a third of the world's bauxite reserves and expects to produce over 30 million tonnes in 2017. However, it has no facilities to transform those reserves into higher-grade alumina.