West Africa emerging as the new Pilbara – West African Minerals

West Africa is emerging as the next significant iron-ore province after Australia’s rich Pilbara and is attracting the attention of global majors and the Chinese, says the London-Aim-listed West African Minerals. Major diversified miners are...

First Quantum buys 19.9% stake in Peru-focused junior

Base metals miner First Quantum on Friday said it bought a 19.9% stake in Zincore Metals, which owns copper and zinc projects in Peru, for a total of C$7.5-million. The TSX-listed junior had said on May 8 First Quantum took up a stake of some 10%...

Explosives company hopes to strengthen brand in West Africa

Explosives company BME says participation in events like this year’s West African Mining and Power Exhibition (Wampex) is compulsory for companies wanting to build their brands in the West African region.

Kinross profit drops 58%, Mauritania mine underperforming

Canada’s third-largest gold miner Kinross Gold on Tuesday reported a 58% year-on-year drop in net first-quarter earnings to $105.7-million, or 9c a share, as a result of one-off tax costs. A $110.3-million remeasurement of deferred tax...

Company Announcement: Drake Resources Announces New Discovery of Widespread Gold At Tasiast South, Mauritania

Gold and base metals explorer Drake Resources (ASX:DRK) has announced an exciting discovery of widespread gold at its 100%-owned Tasiast South Project in Mauritania, West Africa, with several anomalous gold zones of up to eight kilometres in...

Lower output, prices knock First Quantum's Q1 profit

First Quantum, the Vancouver-based base metals producer, late on Wednesday reported a 42% drop in first-quarter adjusted profit to $119-million after copper production and prices fell from the levels seen in the same period in 2011. On a per...

Gold majors could hit ‘slam dunk’ with junior M&As

With the gold price remaining resiliently high, mid-tier and major producers pumping cash, and junior equities more depressed by the day, analysts say Iamgold’s purchase of Trelawney mining last week could be a sign of things to come....

Kolomela project passes 18-million LTI-free hours

Engineering Consultancy Hatch reports that it has just passed 18-million lost-time injury- (LTI-) free hours at iron-ore producer Kumba Iron Ore’s Kolomela mine, in the Northern Cape, for which it is the engineering, procurement and construction...

KIOCL seeks access to cancelled iron-ore leases

Indian iron-ore miner KIOCL, formerly known as Kudremukh Iron Ore Company Limited, was seeking iron-ore mining leases in the southern Indian province of Karnataka from among the list of lease cancellations drawn up following investigations into...

Explosives company reaps rewards of early investment in West Africa

Explosives and mining services supplier BME is considering opportunities to expand into Ghana, having done business in West Africa for over a decade and reaped the rewards of early investment, BME marketing manager Charles Hurly tells Mining Weekly.

West African mining sector seeks international partnerships to grow industry

Gold-rich Ghana’s capital city, Accra, will host the tenth West African Mining and Power Exhibition (Wampex), which, this year will continue to focus on international partnerships needed for the development of infrastructure to exploit the...

Now Nevsun to 'vigorously' fight class action suits

It has become a recurring theme in the North American gold sector this quarter: report operational setbacks, announce large impairments as a result, and wait for the class action law firms to swoop. Nevsun Resources, which mines gold in Eritrea,...