Guinea

Alufer Mining: Bauxite mine developer plans US$150-200 mln AIM IPO

Alufer Mining is laying the groundwork for a listing on the AIM market that will value the Guinea-focused bauxite specialist at between US$150 and US$200 million.

Nautilus Minerals shares on the rise after solid year end results

Nautilus Minerals Inc. shares were up almost 24% this morning (TSX:NUS), after the company released solid year end results with, narrowing its full-year loss in 2011 to US$34 million.

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.

Australia, Canada, Chile, Brazil and Mexico the top five mining projects’ destinations

In its annual ranking of countries in terms of political risks for mining investment, the mineral industry advisory firm Behre Dolbear, has ranked Australia, Canada, Chile, Brazil and Mexico as the top five nations in which to locate mining projects.

Australian explorer hunts for copper in Andes

The Herald Sun has an interesting feature piece on Chinalco Yunnan Copper Resources, an Australian company with Chinese backing that is partnering with Rio Tinto on three early-stage exploration projects in Chile.

BHP Billiton to Halt Bauxite Exploration at Guinea and rsquo;s Boffa Site

BHP Billiton Ltd. plans to halt bauxite exploration at its Boffa-Santou-Houda site in Guinea, the world’s biggest exporter of the ore, after prices for aluminum dropped, said Jean-Francois David, the company’s president in the West African nation.

Baosteel, CRCC to jointly explore Guinea an iron ore mine

Baosteel Group, the parent of Baoshan Iron and Steel, and China Railway Construction Corporation (CRCC) have signed an agreement to jointly participate in the exploration of an iron ore mine in Guinea, sources reported.

Management shake up and private placement at Cassidy Gold

Cassidy Gold Corp. ("Cassidy") (TSX VENTURE:CDX) announces that it will conduct a non-brokered private placement of up to 3,300,000 units of Cassidy (the "Units") at a price of $0.15 per Unit for aggregate proceeds of up to approximately $495,000. Cassidy is also pleased to announce the appointments of Paul Rankine as the Chief Executive Officer and a director of Cassidy and of Marion Bush as the Chief Operating Officer and a director of Cassidy.

Rio targetting 2015 for first iron ore from Simandou

Rio Tinto said it expects its Simandou iron ore project in Guinea to begin producing by mid-2015.

The company has approved $211 million in continuing studies and $1.12 billion to purchase equipment and fund early earthworks.

The Australian reports Rio saying the $9.8-billion project is gaining momentum with construction works well underway:

Work has started on the marine offload facility near the preferred port site of Ile Kabak, 50km southeast of the capital Conakry, which enables the introduction of heavy equipment for construction.

Vale to concede 35% of Simandou to Guinea

Vale SA will likely hand over 35% of its Simandou iron ore project to Guinea.

The Wall Street Journal (sub required) is reporting that Vale, one of the top three producers of iron ore, is working on an accord whereby the company concedes 35% of the Simandou project to the Guinean government. The accord falls in line with the country' new mining laws, which allow the government to increase its stake in mining projects from 15% to 35%.

CBG restarts Guinea bauxite exports: source

Guinea's CBG restarted bauxite exports early on Sunday after a one-week halt that was caused by damage to a conveyor belt used to load ships, a source at the company told Reuters.

Guinea asks China to build 340 MW power plant

The project is part of ongoing negotiations between Guinea and CPI over the potential development of a bauxite mine in Boffa and construction of an alumina refinery and deepwater port, sources have said.

Guinea adopts new mining code boosting state share

Guinea's parliament adopted a new mining code that more than doubles the share the West African state can take in mining projects to 35 percent and toughens procedures for acquiring development permits, the government said on Saturday.

BHP fears risk in Guinea project

Sovereign risk issues are slowing BHP's alumina project in Guinea. BHP Billiton is spending money hand over fist expanding its global production capacity.

Guinea and China in talks over bauxite mine, alumina refinery

Guinea is in advanced talks with state-owned China Power Investment to develop a bauxite mine and build an alumina refinery, deep water port and a power plant in the West African state, Guinean government sources said.

Cassidy acquires exploitation permit for Kouroussa Gold Project, Guinea, West Africa

Cassidy Gold Corp. recently received an exploitation permit covering all gold resources identified to-date at the company's 100% owned Kouroussa Gold Project located in Guinea, West Africa. This permit runs through to October 14, 2019. The permit covers an area of 16 square kilometres within the company's 949 square-kilometre exploration permits.

The Australian: Rio Tinto racing ahead at Simandou project in West Africa

Rio Tinto's $US10 billion-plus Simandou iron ore project in Guinea is rapidly pressing ahead, but not like a typical giant development by the Anglo-Australian mining giant.

By the end of the year, Rio is expected to have spent close to $US2bn ($1.9bn) on Simandou, including a $US700 million settlement payment to the government, and to begin construction of a project it has committed to produce from in 2015.

Kalia magnetite tonnage increases by 71%

A drilling program at Bellzone Mining plc’s (AIM:BZM) Kalia Mine in the Republic of Guinea, West Africa, has indicated a 71% increase in the company’s estimate of the magnetite tonnage available from 3.74 billion tonnes to 6.4 billion tonnes, placing Kalia amongst the largest iron ore deposits of its kind in the world.

An 18,000m diamond drilling infill program commenced in Q3 2010 to increase the existing 690 million tonne measured and indicated component of the 3.74 billion tonne magnetite JORC resource. The company is pleased to announce that the work is proceeding to schedule and the programme is on track to deliver an increased M&I JORC magnetite resource in Q3 2011.

West Africa opens its doors to Fordia

Canadian manufacturer Fordia is strengthening its presence on the African continent with the inauguration of its first office in Ghana as a hub to handle its West African operations, covering nine countries, namely: Mali, Nigeria, Burkina Faso, Cote d’Ivoire, Liberia, Sierra Leone, Senegal, Guinea and Ghana. Read the full press release

Mining reform needed in Guinea but risks abound

Reforms by Guinea's first freely elected government are needed to clean up a mining sector in disarray after decades of political turmoil, but they risk scaring off investors if they go too far too fast.

The world's top bauxite supplier and a new frontier for iron ore, Guinea is rewriting its mining code, probing joint venture deals, and has dealt tough blows to major firms since the election of President Alpha Conde last November.

Guinea iron ore project pegged at 111 million tonnes graded at 38% Fe

West Africa focused Bellzone Mining has released an initial resource estimate for its Kalia iron ore project in Guinea.

The AIM-listed iron ore and nickel company announced an initial inferred JORC oxide resource of 111 million tonnes, graded at 38% Fe, which would be beneficiated using a standard gravity process to produce 58% Fe fines.

Rio does $700 million Simandou iron ore deal with Guinea

Mining giant Rio Tinto (RIO.L) said on Friday it would pay the government of Guinea $700 million after reaching an agreement to resolve all outstanding disputes over blocks 3 and 4 of its Simandou iron ore project.

The company said in an emailed statement to Reuters that it had signed a settlement to secure Rio's mining title for the southern Simandou blocks, paving the way for some $10 billion in investment and the first shipment of iron ore by mid-2015.

West African iron-ore miner completes US$133 million placement

Bellzone Mining announced on Tuesday that it had completed a US$133 million placement of 102 million ordinary shares. Canaccord Genuity Limited was the lead manager.

Bellzone, an AIM-listed company, is developing two iron ore and nickel/copper assets in Guinea, West Africa. The Kalia iron deposit, a 50mtpa iron ore operation, is the company's flagship project.

Prime Minister's former advisor named Guinea's minister of mines

Guinea's president Alpha Conde, Tuesday named Mohamed Lamine Fofana, who has several years' experience advising on mining issues to the post of minister of mines CONAKRY (Reuters) – Guinea President Alpha Conde on Tuesday named Mohamed Lamine Fofana, a

Rio Tinto to invest US$170m for the next stage of the Simandou iron ore project in Guinea

Rio Tinto has advanced to the next stage of developing its world-class Simandou iron ore project in Guinea, approving US$170 million of further funding for mine, rail and port infrastructure work. Read more