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Africa News

Ivanhoe progresses with road to airport from Kamoa project

By: Marleny Arnoldi     Updated 2 hours 16 minutes ago Canada-headquartered Ivanhoe Mines says construction of the highway linking its Kamoa-Kakula copper project to the Kolwezi airport, in the Democratic Republic of Congo (DRC), is progressing rapidly with the onset of the country’s dry season. The 34-km-long east–west road is about 25% complete... 

Volt secures $1m working capital for Bunyu project’s development

By: Simone Liedtke     Updated 2 hours 23 minutes ago Tanzania-focused flake graphite development company Volt Resources has secured $1-million in working capital funding for the development of its Bunyu graphite project, in Tanzania. The funding includes $300 000 raised through the placement of just over 20.8-million shares at 2.1c a share, and a... 

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     Updated 2 hours 36 minutes ago Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

Pleasing Orion bankable points to fast project payback
Photo by Creamer Media
Orion Minerals CEO Errol Smart

Rio Tinto starts drilling at Broadway’s Madison

By: Creamer Media Reporter      Updated 2 hours 42 minutes ago Kennecott Exploration, part of the Rio Tinto Group, has started with a drilling campaign at TSX-V-listed Broadway Gold Mining’s Madison copper/gold project, in the Butte region of Montana, in the US. The initial drilling programme consists of three drill holes targeting an area displaying... 

Kibo mulls renewables cogeneration opportunities 

By: Simone Liedtke     Updated 2 hours 55 minutes ago In line with its strategy of incorporating long-term renewable energy solutions into its existing coal power projects, Africa-focused Kibo Energy has signed a collaboration agreement with ESS Tech to develop suitable baseload electricity storage solutions. Having recognised the increasing need to... 

China's CNMC agrees to work on Madagascar rare earth project

By: Reuters     Updated 4 hours ago A unit of China Nonferrous Metal Mining Group (CNMC) said on Monday it had signed a non-binding memorandum with Singapore-listed ISR Capital that could see the Chinese firm work as a contractor on a rare earths project in Madagascar with rights to purchase products. China Nonferrous Metal... 

Eskom's gain South Africa's pain as investors balk at debt 

By: Bloomberg     Updated 4 hours ago President Cyril Ramaphosa’s latest pledge to support Eskom Holdings is good news for the cash-strapped electricity company -- but some investors are balking at the prospect of increased sovereign-bond issuance to pay for the bailout. Ramaphosa told lawmakers last week South Africa would bring... 

Eskom's gain South Africa's pain as investors balk at debt

Nigerian court adjourns Oando case against securities regulator to 22 July

By: Reuters     Updated 5 hours ago A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial... 

Resgen says final member confirms participation in lending syndicate for Boikarabelo

By: African News Agency      Updated 6 hours ago Energy resources firm Resource Generation (Resgen), which is listed on the ASX and the JSE, on Monday said the third and final member of the proposed lending syndicate for the construction of its Boikarabelo mine in South Africa had confirmed its participation in writing. It said the combined... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal 

By: Simone Liedtke     Updated 6 hours ago LSE-listed Acacia Mining says it “strongly disagrees” with a number of matters set out in a recent announcement by parent company Barrick Gold, adding that the announcement “appears to have ignored the value of [Acacia’s] portfolio of exploration and development assets, and the strategic value of... 

Acacia says ‘strongly disagrees’ with Barrick’s takeover proposal
Photo by Bloomberg
Barrick Gold CEO Mark Bristow

Eramet needs €1bn Gabon expansion, Argentina lithium mine

By: Mariaan Webb     Updated 6 hours ago French multinational mining and metals firm Eramet is searching for more than €1-billion in financing to fund an expansion of its manganese mine in Gabon, and to build a new lithium mine in Argentina. The company plans to raise its manganese ore production capacity from 4.3-million tons a year... 

Galileo increases stake in Star Zinc project

By: Simone Liedtke     Updated 7 hours ago Aim-listed Galileo Resources has acquired the remaining Kabwe residual rights, including the Kashitu zinc willemite exploration prospect, as well as exercised its right to acquire a further 15% interest in Enviro Zambia from BMR Group for 9.6-million Galileo shares. Enviro Zambia owns 95% of... 

AVZ increases Manono stake

By: Esmarie Iannucci     24th June 2019 ASX-listed AVZ Minerals has struck a $5.5-million deal to acquire an additional 5% interest in the Manono lithium and tin project, in the Democratic Republic of Congo (DRC). AVZ on Monday announced that it would acquire an additional 5% interest in Manono from joint venture partner Dathomir... 

Paladin sells idled Malawi mine to Hylea

By: Esmarie Iannucci     24th June 2019 Uranium miner Paladin Energy has struck a deal with ASX-listed Hylea Metals to divest of its shareholding in the Kayelekera mine, in Malawi, for A$5-million. Paladin owns 65% of the Kayelekera project, joint venture partner Chichewa holds a 20% interest and the Malawi government a 15% stake. 

Gold gains to near highest since 2013 as bulls ‘back in control’

By: Bloomberg     24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

Gold gains to near highest since 2013 as bulls ‘back in control’

Orion education initiative ‘well received’, says COO

By: Simone Liedtke     21st June 2019 JSE- and ASX-listed Orion Minerals’ introductory mining familiarisation short courses within the Siyathemba municipality, in the Northern Cape, have raised public awareness of the mining industry and the opportunities it offers, the company reports. The five-day short courses have been offered... 

Insimbi to acquire metals trading firm Treppo

By: Tasneem Bulbulia     21st June 2019 JSE-listed Insimbi Industrial Holdings will see ISB acquire Treppo, which is involved in the sourcing, trading and buying of recycled metals – mainly ferrous metals or steel – in the greater Gauteng area. Through this transaction, Insimbi will expand its ferrous business and its client base,... 

Kefi starts fieldwork at Saudi Arabia project

By: Simone Liedtke     21st June 2019 Aim-listed Kefi Minerals on Friday reported that fieldwork had started at its Hawiah exploration licence, in Saudi Arabia. The fieldwork began with a modest cost but a potentially high-impact induced polarisation and resistivity geophysical survey aimed at better defining the large volcanogenic... 

Ramaphosa's old union seeks South African platinum mine comeback 

By: Bloomberg     21st June 2019 The National Union of Mineworkers (NUM), which dominated organised labour across South Africa’s platinum belt until the massacre at Lonmin’s Marikana mine in 2012, is plotting a comeback. By the end of this year, the union wants to represent 30% of the more than 167 000 workers at the world’s... 

Bushveld reports 1.58% vanadium grade for Brits project

By: Marleny Arnoldi     21st June 2019 Aim-listed Bushveld Minerals on Friday announced the maiden mineral resource estimate for its Brits vanadium project, in South Africa’s North West province. Bushveld reported a 66.8-million-tonne aggregate inferred and indicated mineral resource across three seams at the project, grading at an... 

Premier secures $350 000 loan

By: Marleny Arnoldi     21st June 2019 Aim-listed Premier African Minerals on Friday announced it has entered into a $350 000 loan and subscription agreement with Regent Mercantile Holdings. Should Premier fail to repay the loan in two equal payments on August 1 and September 1, Regent may convert any percentage of repayment into... 

Eskom welcomes Trillian judgment, calls on more firms to come forward 

By: News24Wire      21st June 2019 Eskom has welcomed a high court judgement ordering Trillian to pay back the R595-million it earned in an "unlawful and invalid" contract. The Gupta-linked advisory firm was ordered by the High Court in Pretoria on Tuesday to pay back the money after the utility in March 2018 launched a bid to set... 

 Eskom welcomes Trillian judgment, calls on more firms to come forward

We need detail, and we need it soon, business says in SoNA response 

By: Terence Creamer     21st June 2019 Business Unity South Africa (Busa) has lamented the absence of “real implementation plans” from President Cyril Ramaphosa’s June State of the Nation Address (SoNA) and has urged him to work with business to table a clear implementation plan, with timeframes and milestones, to address South... 

We need detail, and we need it soon, business says in SoNA response
Photo by Creamer Media's Dylan Slater
Busa president Sipho Pityana

MC inks new cooperation agreement with HEI

By: Creamer Media Reporter      21st June 2019 Coal miner MC Mining has signed a cooperation agreement with Haohua Energy International (HEI), a wholly owned subsidiary of Shanghai-listed Beijing Haohua Energy Resource Company, which is the largest exporter of anthracite coal from China. The parties had initially entered into a cooperation... 

SA mining adopting, driving 4IR as its transformation journey continues 

By: Natasha Odendaal     21st June 2019 The mining industry in South Africa is continuing its transformation journey as it adjusts to the ever-increasing pace of the prevailing technological revolution, with the 100-plus-year-old industry, steeped in tradition and at times crisis, seeking out new ways of adapting to this era of change.... 

SA mining adopting, driving 4IR as its transformation journey continues

Angolan government authorises cooperatives to exploit diamonds

By: Rebecca Campbell     21st June 2019 In Angola, 77 cooperatives have been authorised to explore and mine for diamonds, stated an official announcement at the end of last month. The authorisations were issued by the State-owned Endiama diamond mining company. (Endiama is an acronym; the full name of the company, translated into... 

SA mining adopting, driving 4IR as its transformation journey continues

By: Natasha Odendaal     21st June 2019 The mining industry in South Africa is continuing its transformation journey as it adjusts to the ever-increasing pace of the prevailing technological revolution, with the 100-plus-year-old industry, steeped in tradition and at times crisis, seeking out new ways of adapting to this era of change.... 

SA mining adopting, driving 4IR as its transformation journey continues

Ramaphosa confirms R230bn support for Eskom to be front-loaded

By: Terence Creamer     20th June 2019 President Cyril Ramaphosa announced on Thursday that the R230-billion in fiscal support being directed to debt-laden power utility Eskom over the coming ten years would be structured in a way that ensures a significant portion is provided in the early years. A Special Appropriation Bill would be... 

Ramaphosa confirms R230bn support for Eskom to be front-loaded
President Cyril Ramaphosa

Mercuria, South African firms place bids for South32's SAEC coal mines 

By: Reuters     20th June 2019 Seriti Resources and a consortium backed by global energy trader Mercuria are among up to six groups to have submitted final bids for the South African coal assets of South32, four sources familiar with the matter told Reuters. A consortium backed by South African miner Exxaro Resources dropped... 

Mercuria, South African firms place bids for South32's SAEC coal mines

Bauhinia Creek Phase 2 drilling intersects high-grade mineralisation

By: Tasneem Bulbulia     20th June 2019 East Africa-focused gold producer Shanta Gold has intersected high-grade mineralisation over significant widths during the second phase of its Bauhinia Creek (BC) drilling campaign at the New Luika gold mine (NLGM) in Tanzania. This provided further evidence of the continuity of the orebody to... 

Rio Tinto renews work on giant Guinea iron-ore deposit

By: Bloomberg     20th June 2019 Rio Tinto Group is looking at new ways to develop the giant Simandou iron-ore deposit in Guinea that it almost sold last year, according to people familiar with the matter. Simandou is one of the world’s biggest untapped mineral deposits, but has a controversial past. For more than a decade, it... 

Zambian court rejects Vedanta bid to join liquidation case

By: Reuters     20th June 2019 Vedanta Resources said it would take urgent steps to protect its Zambian assets and pursue international arbitration if necessary after a Lusaka court on Thursday rejected its request to be included in liquidation proceedings. A Lusaka judge on Thursday ruled Vedanta Resources could not take part... 

Endeavour Mining has a new CFO

By: Creamer Media Reporter      20th June 2019 Intermediate gold miner Endeavour Mining has appointed Anglo American base metals executive Louis Irvine as CFO, succeeding Vincent Benoit, who is rejoining Endeavour’s main shareholder, La Mancha Group, on August 1. Immediately prior to joining Endeavour, Irvine was executive head of strategy... 

Minergy appoints CEO-designate 

By: Martin Creamer     20th June 2019 The Botswana Stock Exchange-listed Minergy on Thursday announced that its CFO Morne du Plessis had been appointed CEO-designate and would take over the reins of the coal mining and coal trading company on August 1. This follows last month’s announcement that current Minergy CEO Andre Bojé, 63,... 

Minergy appoints CEO-designate
Minergy CEO-designate Morne du Plessis

BHP and Mitsubishi to pursue emission reductions

By: Esmarie Iannucci     20th June 2019 Mining major BHP and Japan’s Mitsubishi Development have inked a memorandum of understanding (MoU) to jointly pursue emissions reductions. BHP CEO Andrew Mackenzie on Thursday said that the MoU marked the start of an important collaboration with one of the company’s essential long-term industry... 

Syrah to raise A$111m, signs new offtake

By: Esmarie Iannucci     20th June 2019 Graphite miner Syrah Resources will raise some A$111.6-million though a convertible note and underwritten entitlement offer to ramp-up production at its Balama project, in Mozambique. Syrah has struck an agreement with its largest shareholder AustralianSuper to issue a five-year unsecured... 

VGSA, Flaming Silver court case postponed until next month

By: Simone Liedtke     20th June 2019 A court case between Flaming Silver and Vantage Goldfields South Africa (VGSA) has been postponed until July 9 on request of Flaming Silver subsequent to an application for leave to amend the intervention application brought by former Flaming Silver director Ferdi Dippenaar. The postponement,... 

Responsible sourcing of gemstones to receive more attention – Gemfields

By: Tasneem Bulbulia     20th June 2019 Responsible sourcing of coloured gemstones will receive ever-increasing attention and become progressively more important to consumers, predicts Gemfields and Kagem Mining CEO Sean Gilbertson. The observation comes as Gemfields recently contributed new data and insights to independent global... 

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