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Africa News

Centamin's Sukari exceeds first-quarter output target

By: Creamer Media Reporter      Updated 1 hour 18 minutes ago Dual-listed Centamin's Sukari gold mine, in Egypt, produced 116 183 oz of gold in the first quarter of this year, exceeding the targeted output of 105 000 oz to 115 000 oz. The TSX- and LSE-listed company said the openpit operation had performed broadly in line with plan, while the underground... 

World's central banks want more gold as India joins spree

By: Bloomberg     Updated 1 hour 56 minutes ago India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves. The Reserve Bank of India’s purchases are part of a wider picture across... 

World's central banks want more gold as India joins spree

Red Rock raises cash to advance DRC exploration

By: Creamer Media Reporter      Updated 2 hours 29 minutes ago Aim-listed Red Rock Resources has raised £323 750 through the placing of 63.48-million new ordinary shares at 0.51p. "The placing ensures the company can manage its cash flow prudently while driving an increased tempo of exploration in the [Democratic Republic of the Congo (DRC)] as the scale of... 

Alufer shifts focus to expansion of Guinea bauxite mine

By: Creamer Media Reporter      Updated 2 hours 40 minutes ago Independent mineral exploration and development company Alufer Mining has started detailed engineering studies for the proposed expansion of production at its Bel Air bauxite mine, in Guinea, to ten-million tonnes a year. The company on Wednesday said operations were on track to produce the... 

Mineral Resources completes note offering

By: Esmarie Iannucci     Updated 3 hours ago ASX-listed Mineral Resources (MRL) has completed a $700-million senior unsecured note offering. “Over recent years, MRL’s business has grown and we now have established operations at mines with anticipated lives of between 10 and 30 years. The offering of the notes represents an important... 

Vanggatfontein coal deliveries to Eskom interrupted as striking miners dismissed

By: Simone Liedtke     Updated 3 hours ago Production at Wescoal’s Vanggatfontein mine, in Mpumalanga, will be suspended for six to eight weeks after the mining contractor dismissed its 274 employees at the mine following unlawful industrial action – that turned violent – earlier this month. The mining contractor and Wescoal have, on... 

Vanggatfontein coal deliveries to Eskom interrupted as striking miners dismissed

BMW to buy cobalt direct from Australia, Morocco for EV batteries

By: Reuters     Updated 4 hours ago German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative... 

China's Tsingshan expands plans for Zimbabwe steel plant

By: Reuters     Updated 4 hours ago China's Tsingshan Holding Group has expanded its plans for a steel plant in Zimbabwe to include a power plant and a lithium concession, Zimbabwe's Mines Minister Winston Chitando said on Tuesday. President Emmerson Mnangagwa's government is trying to woo foreign investors, especially in mining,... 

IronRidge granted exploration licence for Côte d'Ivoire gold project

By: Tasneem Bulbulia     23rd April 2019 Aim-listed, Africa-focussed minerals exploration company IronRidge Resources has been granted an exploration licence for the Zaranou gold project, in Côte d'Ivoire. It has also secured an extension to the exclusive due diligence period for the project. 

Vast wraps up sale of Zim gold assets

By: Creamer Media Reporter      23rd April 2019 Shareholders in Vast Resources on Tuesday approved the sale of the company’s Zimbabwe gold assets, including the Pickstone Peerless and Eureka mines. Shareholder approval was the final condition precedent to the sale of Aim-listed Vast's 50.01% interest in Ronquil Enterprises, through which it... 

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Guinea transfers oversight of State mining company to Presidency

By: Bloomberg     23rd April 2019 The office of Guinean President Alpha Conde is assuming oversight of the West African nation’s State-owned mining company in a move that will hand him more authority over the country’s holdings in some of world’s biggest bauxite deposits. The Presidency will take command of Societe Guinneenne du... 

IMF slates unpredictable policies in report Tanzania blocked

By: Bloomberg     23rd April 2019 The International Monetary Fund said that Tanzania’s economy is being harmed by the government’s “unpredictable and interventionist policies” in a report whose release the East African country has blocked. Tanzania refused to authorize the publication of the report, the IMF said Wednesday in a... 

Xolobeni community asks Ramaphosa to stop Mantashe's upcoming visit

By: African News Agency      23rd April 2019 The Amadiba Crisis Committee on Monday asked President Cyril Ramaphosa and "democratic institutions" to stop Mines Minister Gwede Mantashe from visiting Xolobeni, where there is a raging dispute over keeping the area pristine versus allowing mining activities to go ahead. Mantashe's last visit to... 

Anglo stalwart appointed Pensana CEO  

By: Esmarie Iannucci     23rd April 2019 ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American’s operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed... 

Ma’aden to acquire Phatisa’s controlling shareholding in Meridian Group

By: Marleny Arnoldi     23rd April 2019 Private equity fund manager Phatisa has reached an agreement with mining and metals company Ma’aden on the sale of its controlling shareholding in Meridian Group. Meridian is a prominent African agricultural inputs business, which distributes about 500 000 t/y of fertiliser across Malawi,... 

Congo-Brazzaville ships first iron-ore ahead of expected production boom

By: Reuters     23rd April 2019 Congo-Brazzaville shipped its first iron-ore exports on Friday ahead of an expected boom in production from mines owned by Congolese billionaire Paul Obambi's Sapro and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko... 

De Beers COO Nancy Liu to lead Forevermark

By: Marleny Arnoldi     23rd April 2019 Diamond miner De Beers Group has appointed its COO Nancy Liu CEO of its Forevermark brand. She succeeds Stephen Lussier, who remains De Beers group executive for consumer, brands VP and now also Forevermark chairperson.  

De Beers COO Nancy Liu to lead Forevermark
Forevermark chairperson Stephen Lussier

South Africa brings forward Eskom bailout to avert default

By: Reuters     23rd April 2019 South Africa's government has had to bring forward the bailout of state power firm Eskom, after it rushed R5-billion to the struggling utility earlier this month to avert a default and said more cash could be needed soon. Eskom supplies more than 90% of electricity in Africa's most advanced... 

South Africa brings forward Eskom bailout to avert default

Anglo steps up defense to repel Agarwal's interest – Telegraph 

By: Bloomberg     23rd April 2019 Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he... 

Russian, Angolan diamond groups sign MoU

By: Rebecca Campbell     19th April 2019 Russia’s predominantly State-owned global diamond mining major Alrosa and Angola’s State-owned national diamond mining company Endiama signed a Memorandum of Understanding (MoU) early this month. This marks the latest stage in the development of the relationship between the two entities, which... 

Roxgold to start drilling at newly acquired Séguéla

By: Marleny Arnoldi     18th April 2019 TSX-listed Roxgold has completed a previously announced portfolio acquisition worth $20-million from Newcrest West Africa, which comprises 11 exploration permits in Côte d'Ivoire. The transaction includes the Séguéla project, which CEO and president John Dorward says has significant growth... 

Orion reawakening geological giant in Northern Cape  

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Orion reawakening geological giant in Northern Cape
Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

Petra recovers 209.9 ct diamond at Cullinan

By: Creamer Media Reporter      18th April 2019 Petra Diamonds on Friday recovered a 209.9 ct D-colour Type II gem-quality diamond at its Cullinan diamond mine, in South Africa. This is the third Type II D-colour gem-quality diamond weighing more than 100 ct recovered since March and the fourth such diamond recovered in the current financial... 

Barrick's quarterly performance in line with operating plan

By: Mariaan Webb     18th April 2019 Gold mining major Barrick Gold on Thursday reported a solid operating performance across its portfolio, announcing preliminary first-quarter production of 1.37-million ounces of gold and 106-million pounds of copper. This, the NYSE- and TSX-listed company said, was in line with its operating... 

Barrick's quarterly performance in line with operating plan

LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Sasol reports stabilisation in synfuels output  

By: Terence Creamer     18th April 2019 Chemicals and energy group Sasol reports that output at its Secunda Synfuels Operations (SSO) stabilised in the third quarter, following the total shutdown of the West factory during the first half of its 2019 financial year, which had negatively affected production. In a note to shareholders,... 

Sasol reports stabilisation in synfuels output

Mantashe, Oliphant welcome end to Sibanye-Stillwater gold strike

By: Simone Liedtke     18th April 2019 Mineral Resources Minister Gwede Mantashe and Labour Minister Mildred Oliphant have welcomed the end of the Association of Mineworkers and Construction Union’s five-month strike at Sibanye-Stillwater’s gold operations. The parties announced the resolution of their differences on Wednesday. 

Shanta achieves strong first-quarter performance

By: Tasneem Bulbulia     18th April 2019 East Africa-focused gold producer Shanta Gold had a strong start to 2019 – with the quarter ended March 31 having been its best opening quarter in three years in terms of production. Its costs were also well below guidance. 

Resolute inks new mining convention in Mali

By: Esmarie Iannucci     18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... 

South32 coking coal output down 37%, energy coal hit by community protests  

By: Esmarie Iannucci     18th April 2019 Diversified miner South32 has lowered its energy coal and alumina production expectations for the full year, following a tough March quarter. Energy coal production for the quarter declined by 1% on the previous quarter, to 6.3-million tonnes, while metallurgical coal production was down 37% to... 

South32 coking coal output down 37%, energy coal hit by community protests
South32 CEO Graham Kerr

Majority of B2Gold’s mines outperform guidance in strong first quarter

By: Nadine James     18th April 2019 TSX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold. The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines,... 

Capital Drilling poised to meet growing demand for drilling services

By: Tasneem Bulbulia     18th April 2019 Africa-focused Capital Drilling continues to be well positioned for an anticipated uplift in demand, especially in West Africa. “At this early stage of the year, we have already seen some encouraging signs in the market, with robust metals prices, particularly gold, and improving capital markets. 

Glencore’s Jeff Gerard appointed Katanga CEO

By: Simone Liedtke     18th April 2019 TSX-listed Katanga Mining, a unit of Glencore, on Thursday announced that Glencore International’s Jeff Gerard would succeed Danny Callow as CEO of the company, effective May 2. Gerard’s appointment follows the signing of a management services agreement between Katanga and Glencore in January.... 

Ncondezi receives shareholder loan conversion notice

By: Simone Liedtke     18th April 2019 Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share. Admission of these shares on Aim is expected to take place on April 26. 

Mick Davis moves closer to iron-ore mining with Liberian deal  

By: Bloomberg     18th April 2019 Mining dealmaker Mick Davis has won permission to export iron-ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback. Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron-ore... 

Mick Davis moves closer to iron-ore mining with Liberian deal
Photo by Bloomberg
Mick Davis

Goldcorp and Newmont successfully create gold behemoth

By: Creamer Media Reporter      18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... 

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