Kenya Mining News

Acacia Mining core profit slumps as Tanzanian troubles bite

Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.

Kenya wins case against Cortec Mining on rare earths, niobium licence

Tribunal orders the companies to pay costs of around $3.5 million to the government.

Kenya to set up gold refinery to help small miners

The aim of the project is to improve the livelihoods of the beneficiary community and regional economy - Mining Ministry

Evicted Kenyans demand compensation after mining firm exits

The East African nation's deposits are often in remote regions where the country's poorest live, but experts say few have reaped the rewards from mining.

Poor left out of mining profits as 'resource curse' hits Kenya

There were cases of displacement of communities, workers subjected to unsafe conditions, as well as soil, water and air pollution.

Mining no longer top sector attracting investors to Africa — report

Industrial and precious metals, coal, oil, as well as natural gas, collectively accounted for just 6.2% of foreign direct investment into the continent last year.

Acacia Mining says West Kenya project holds high-grade gold

With six drill rigs currently active on site, and two more to follow soon, Acacia expects to increase the resource to 2 million ounces by the end of the year.

African Barrick is history, changes name to Acacia Mining

The miner plans underground operations at North Mara and inked a deal that could see it acquire up to 70%of a project in Burkina Faso.

African Barrick cuts costs, to acquire more gold assets in 2015

Tanzania's largest gold miner reported a 17% jump in third-quarter core profit, and said it anticipates full-year costs at the lower end of it target range of $1,100-$1,175 per ounce sold.

African Barrick seeks new name after partially splitting from Canadian parent

Last week Barrick Gold sold 41 million African Barrick shares to institutional investors.

Unsteady gold prices pushes Goldplat deeper into red

But it expects to return to profitability by the end of the current fiscal year.

African Barrick reports $781 million annual loss, despite output increase

It also slashed its gold reserves by almost a quarter.

African Barrick new CEO wants to split from Canadian parent

"Hopefully" to materialize over the next 12 to 18 months.

Goldplat puts Kenyan mine on care and maintenance

Company cited ongoing operational losses and gold price uncertainty as reasons for the closure.

Kenya to revoke controversial mining tax

New president and his administration are planning to revoke rules passed in 2012, which impose 35% local equity shareholding in the country’s mining licences.

Kenya to form state-owned mining company

The government is also working on a bill to update the mining act.

Kenyan oil, hot and getting hotter: Interview with Taipan’s Maxwell Birley

Kenya has become the hottest oil and gas venue in East Africa since big discoveries were made in the country’s virgin oilfields last April.

Report: Half of gold miners in Africa could be children

Many children and teenagers skip school to work at the gold mines where they can earn $14 during a six-day week workweek.

Kenya’s $100 million coal mining in danger

The future of a planned coal mining in the Kitui County in Kenya, worth more than $100 million (Sh$8.5 billion), hangs in the balance following opposition by local leaders and a court suit.

Kenya invites bids for two coal blocks

Kenya has invited investors to bid for the exploration and development of two coal blocks in the country's eastern region, the energy ministry said.

How to avoid being caught in a common gold scam

Recently, I read an article about how Congo born, Dikembe Mutombo, an all-star NBA defender, was nicely scammed in a fake gold deal.

Kenya grants first-ever gold mining lease

Kenya is set to join the league of gold-producing nations following the granting of the first mining lease to UK company Goldplat.

Kenya to award first gold mining licence next week

Kenya will issue its first ever gold mining lease on Tuesday, opening the way for commercial exploitation of the precious metal whose price has peaked in recent weeks after turbulence rocked global financial markets.

Big names boost Kenya's largest mining project

BASE Resources says it is close to announcing offtake deals for Kenya's biggest mining project, the $US256 million ($239m) Kwale mineral sands operation. Base managing director Tim Carstens said Dupont and Cristal Global, the world's two largest titanium dioxide producers, were among parties interested in offtake. One deal "that I hope to announce next week, will account for about 35 per cent of our revenue and they are a big name", Mr Carstens said yesterday at the Africa Downunder mining conference in Perth.

Kenya set to issue a gold mining lease to Goldplat

Kenyan government will in October issue London listed Goldplat a lease to exploit the large gold deposits at Kilimapesa gold site in Narok County. An official at Kenya's ministry of mines said that Goldplat will be given a mining lease after completion