Shares of African Minerals surged 47% on Thursday after one of China's largest iron-ore trading companies injected $990 million into its Tonkolili mine.
And what can be really done to choose certified conflict-free diamonds.
The African diamond exporter shipped out diamonds worth $102 million in the first half of the year.
The heart of Africa has been beating strong in recent years due to elevated commodity prices and resilient domestic demand, despite the global economic slowdown.
Officials from Sierra Leone, Ivory Coast, Guinea and Liberia are meeting in London this week.
PHOTOS: Gemstone mining in western Africa is a tough slog every day.
With the exception of Ghana and Cape Verde, which were ranked as “medium risk” in the index published Wednesday, all others were classified as “high risk."
But South Africa's output continues to fall says the Economics Group’s.
Expansions are planned for Stellar Diamonds and Koidu Holdings, after evaluations found that "the Lion-5 Kimberlite prove that the body is of both high grade and high diamond quality."
old and GemStone Mining Inc. (OTCBB: GGSM), an alluvial gold and diamond exploration and development stage mining company focused on Sierra Leone, West Africa has today announced that its local Joint Venture partner has secured an additional 50 acres of surrounding concessions to its existing project Nimiyama situated in the Kono District.
The unrest by workers at African Minerals' Tonkolili iron ore mine in Sierra Leone has left one woman dead and at least six injured, witnesses and medical staff said Friday.
This important milestone in the project's development will allow us to progress with the feasibility study, which remains on track for completion in H1 2012."
A woman was shot dead on Wednesday in Sierra Leone after a protest by miners at an iron mine owned by London-based African Minterals turned violent, with police firing tear gas, police said.
The decade-long civil war in Sierra Leone brought two unforgettable images to the West: victims of violence whose limbs were hacked off by armed rebels as a warning to civilians; and the term "blood diamonds," referring to the diamonds plucked by hand from alluvial deposits that were smuggled out of the country and used by both sides of the warring factions to fund their vicious campaigns.
Could Sierra Leone, the African nation whose decade-long civil war funded by booty from diamond mines bore the term "blood diamonds," be going legit. when it comes to the mining of diamonds?
London-trade Stellar Diamonds (LON:STEL) said today a first JORC compliant estimate for its Tongo project in Sierra Leone confirmed it as a high value, high growth asset.
Aim-listed London Mining on Monday slammed a $650-million lawsuit by joint venture partner Wits Basin Precious Minerals as a tactic to avoid repaying its loan.
U.K.-listed London Mining PLC said Friday it has started production of high grade iron ore from its Sierra Leone Marampa project and expects to ship its first iron ore later this month.
The first shipment of iron ore from African Minerals' Ltd Tonkolili mine in Sierra Leone has left for China, the West African state's deputy minister for natural resources said on Friday. African Minerals started mining late last year and had since been stockpiling the ore. It expects to export about 1.2 million tonnes of iron ore during the current fourth quarter.
Mining firm African Minerals Ltd cut its estimate of iron ore sales for 2011, as mine equipment at its Sierra Leone project was redeployed to build port and railway infrastrucure.
Cluff Gold plc ("Cluff Gold" or the "Company") (AIM:CLF)(TSX:CFG), the dual AIM/TSX listed West African focused gold mining company, is pleased to announce the results of an independent mineral resource estimate for the Company's 100% owned Baomahun Gold Project ("Baomahun") in Sierra Leone.
London-listed Africa-focused mining giant African Minerals Ltd has announced that the operating capacity of Tonkolili iron ore mine in Sierra Leone has increased from 12 million mt per year to 15 million mt per year.
Police in Port Loko have confirmed that dozens of youths were arrested at the Sanda Magbolotor Port Loko district, including a Councillor and the driver of a Member of Parliament as a result of a massive riot perpetrated by the youths few days ago following the discovery of iron ore deposits in a village in Port Loko.
Australian mining explorer Cape Lambert Resources is seeking to list its Marampa iron ore project in Sierra Leone by the end of 2011 to raise as much as $500 million, as Chinese backing for the larger Tonkolili development nearby supports its plans.
African Minerals Ltd., closed up 7.1% in London on Monday after completing an investment accord with Shandong Iron & Steel Group Co bringing the counter's gains for the year to 57% and giving it a market capitalization of some $3.6 billion.
Shandong will invest $1.5 billion for a 25% stake in African Minerals' massive the Tonkolili iron-ore project in Sierra Leone. Phase I of the project will cost $1.2bn and includes railway and port reconstruction in the war torn country while phase II and III will add another $8 billion to the bill. Sierra Leone, one of the world's poorest nations, is attracting increasing investments in its natural resources which also include diamonds and bauxite.
Sierra Leone’s largest diamond-mining company, Koidu Holdings, says it has secured funding for the $150-million expansion at the Koidu kimberlite project and implementation is gaining momentum.
CEO Jan Joubert reports that the expansion project incorporates all the currently evaluated kimberlite resources on the property. The richer K1 pipe, which was mined by vertical pit methods between 2005 and 2007, is currently being redeveloped to be brought back into production by the end of this year.
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