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Africa News

Now First Uranium sells Ezulwini gold stream

By: Liezel Hill     6th November 2009 Gold and uranium junior First Uranium has agreed to sell 7% of the gold to be produced over the life of its Ezulwini mine, in South Africa, to a subsidiary of Vancouver-based Gold Wheaton. The deal comes a year, almost to the day, after the two companies signed a similar deal for gold produced... 

Rio Tinto to fund some exploration on JV Tshikapa project

By: Esmarie Iannucci     6th November 2009 TSX- and JSE-listed Africa-focused diamond explorer BRC Diamondcore has signed a letter of intent with diversified giant Rio Tinto’s mining and exploration arm, whereby Rio Tinto would fund the exploration of certain parts of the joint venture (JV) property of the Tshikapa kimberlite project, in... 

Goldstone granted Senegalese exploration license

By: Esmarie Iannucci     6th November 2009 Aim-listed junior gold explorer GoldStone Resources has been granted an exploration license for its Sangola project by the Senegalese Ministry of Mines. GoldStone said in a statement that it would now be able to start exploration activities for gold and related minerals, as soon as a decree was... 

Gold Fields appoints Schmidt as financial director

By: Esmarie Iannucci     6th November 2009 South African gold producer Gold Fields has appointed Paul Schmidt as financial director, effective immediately. Schmidt is a chartered accountant with 18 years industry experience, and has previously spent six years with Deloitte, auditing mainly clients in the gold-mining industry. 

NUM members to march to Anglo American office

By: Esmarie Iannucci     6th November 2009 The National Union of Mineworkers (NUM) on Friday reported that its members from the Highveld region would march to diversified-miner Anglo American’s offices, on Saturday, to present a memorandum of demands. The demands included that agreements reached between the Chamber of Mines, and the coal... 

Chinese companies talk to UK miner about Sierra Leone iron-ore

By: Keith Campbell     6th November 2009 British mining company London Mining has revealed that it is in talks with major Chinese groups about its Marampa iron-ore project in Sierra Leone. “We’re having these discussions now,” London Mining CEO Graeme Hossie told Bloomberg News. “I’m confident they will lead to potential cooperation... 

South African mining groups doing well in South America 

By: Keith Campbell     6th November 2009 South America is a continent whose richness in natural resources became legendary through myths such as El Dorado or the Emerald Mountain. Neither of these ever existed, of course, but today the continent produces antimony, bauxite, coal, cobalt, copper, gold, iron-ore, lead, manganese,... 

Resolute Mining’s Syama project sees improved plant performance

By: Esmarie Iannucci     6th November 2009 ASX-listed gold producer Resolute Mining has reported that despite setbacks in the ramp-up of its Syama gold mine, in Mali, it still produced around 6 665 oz of gold during October. Resolute said on Friday that the production was achieved in the balance of the month following the 12-day... 

African Eagle exercises option to earn stake in Tanzanian deposit

By: Esmarie Iannucci     6th November 2009 Africa-focused mineral explorer African Eagle on Friday reported that it had successfully completed the drilling programme to define the margins of the Wamangola Hill deposit, at the Dutwa nickel project, in Tanzania. “We recently received preliminary assay results from the first few drill... 

Roux resigns from Implats board following his replacement as chair

By: Esmarie Iannucci     6th November 2009 JSE-listed platinum producer Impala Platinum (Implats) on Friday reported that Dr Fred Roux has resigned as an independent nonexecutive director, with immediate effect. The resignation followed discussions in the aftermath of Roux`s replacement as chairperson. Implats said in a statement that... 

Azumah raises A$4,24m for gold exploration

By: Esmarie Iannucci     6th November 2009 ASX-listed West African gold company Azumah Resources has successfully raised A$4,24-million through an oversubscribed share placement as part of its push to fast-track exploration and development of its 100%-owned Wa gold project, in north-west Ghana. The share placement, comprising... 

First Uranium temporarily suspends TSF work

By: Esmarie Iannucci     6th November 2009 TSX- and JSE-listed First Uranium on Friday reported that gold production and construction of its future gold and uranium plant models continued unabated at its Mine Waste Solutions (MWS) tailings recovery, in South Africa. The company said in a statement that it has, however, temporarily... 

Ruukki to triple ferrochrome smelting capacity

By: Esmarie Iannucci     5th November 2009 Ferroalloy producer Ruukki on Thursday reported that it was on the verge of completing an internal feasibility study into its expansion plans for the recently acquired Mogale production facilities. Speaking to journalists on a conference call, Ruukki CEO Alwyn Smit said that he was confident... 

Court dismisses Puno interdict, CRG to continue trial mining at Johannesburg properties

By: Esmarie Iannucci     5th November 2009 Junior miner Central Rand Gold (CRG) on Thursday reported that the South Gauteng High Court had dismissed the urgent interdict, sought by black-empowered Puno Gold Investments, to halt trial mining at the Consolidated Main Reef, Langlaagte, City Deep and Crown Mines tenements. In addition, Puno... 

Angloplat terminates secondary LSE-listing

By: Creamer Media Reporter      5th November 2009 Platinum major Anglo Platinum (Angloplat) announced on Thursday that it would terminate its secondary listing on the LSE. “Whilst the company remains cognisant of the interest of all shareholders, the rationale for delisting on the LSE is chiefly dictated by the low volume of trade in the... 

SA's Mantashe calls for ideas on mining nationalisation

By: Sapa     5th November 2009 ANC secretary-general Gwede Mantashe called for "concrete ideas" on how the debate on the nationalisation of mines can be taken forward, in a speech prepared for delivery on Thursday. "We have invited comrades who want us to treat this debate as a ritual to come up with concrete ideas as to... 

White Water Resources expects higher interim earnings

By: Creamer Media Reporter      5th November 2009 Mining investment company White Water Resources would likely post a earnings a share and headline earnings a share of between 0,76c a share and 0,84c a share for the six months ended September 30, 2009. This was in comparison with a loss a share of 0,4c a share in the first of 2008.  

Sylvania Resources targets 350 000 oz/y PGM output at Platreef by 2018

By: Esmarie Iannucci     5th November 2009 Platinum-group metals (PGMs) producer Sylvania Resources on Thursday reported that it would initially undertake a two-phased exploration programme on its recently acquired Platreef properties, focusing on the Southern Platreef property, known as the Grass Valley project. Sylvania aims to... 

Exxaro takes coal business into high-margin downstream arena

By: Martin Creamer     5th November 2009 The JSE-listed diversified mining company Exxaro on Thursday took its coal business downstream in a move that has the potential to match the current earnings of its flagship Grootegeluk coal mine in the next five years. In opening its R300-million, 140 000-t/y char plant in Lephalale, Exxaro CEO... 

La Mancha hikes Hassaï resource with second VMS target

By: Liezel Hill     5th November 2009 TSX-listed gold-miner La Mancha Resources has now outlined more than 2-million ounces of gold, plus 575 000 t of copper, in inferred resources at its volcanogenic massive sulphide (VMS) project, at the Hassaï mine, in Sudan. The company has unveiled an NI 43-101-compliant resource estimate for... 

Iamgold posts best-ever quarterly profit

By: Liezel Hill     4th November 2009 Toronto-based Iamgold more than tripled its third-quarter net income year-on-year, helped by lower costs and strong bullion prices, the firm reported on Wednesday. Iamgold, which has mines in Africa, South America and Canada, earned $64,9-million in the third quarter, a record for the company and... 

TWP interim earnings fall as clients cut back on projects

By: Esmarie Iannucci     4th November 2009 JSE-listed project house TWP Holdings on Wednesday reported that its net profit for the six months ended August had dropped to R9,23-million, compared with a net profit of R64,94-million in the previous corresponding period. Headline earnings a share for the interim period were also down to... 

African Consolidated Resources signs gold extraction contract with TWP

By: Esmarie Iannucci     4th November 2009 Zimbabwe-focused mineral explorer African Consolidated Resources on Wednesday reported that it has concluded a processing contract with subsidiaries of project manager, TWP, for the production of gold from a sulphide concentrate dump, at the Pickstone project. The sulphide concentrate dump... 

Zim small-scale chrome miners demand 80% claims share

By: Oscar Nkala     4th November 2009 Zimbabwe’s federation of small-scale miners says the government should consider re-allocating chrome claims along the country’s Great Dyke in a manner that should result in a shareholding ratio of 80% indigenous and 20% foreign corporate ownership, to break the monopoly enjoyed by two foreign... 

Exxaro in R30bn-plus coal-based development plan in Waterberg

By: Martin Creamer     4th November 2009 JSE-listed top-forty company Exxaro is involved with coal-based development plans worth at least R30-billion, the company told journalists on Wednesday. “You are standing on the future of coal-mining in South Africa,” Exxaro CEO Sipho Nkosi told Mining Weekly Online, which was part of a visiting... 

Olivewood raises cash to invest in coal, renewable energy projects

By: Creamer Media Reporter      4th November 2009 South African venture capital company, Olivewood, was aiming to raise R1-billion as part of a private investment offer to allow it to invest in coal and renewable energy projects. “Our focus will be on investing in coal and renewable energy in the short to medium term as well as developing... 

IDC approves $10m loan for Mwana’s Freda Rebecca mine

By: Esmarie Iannucci     4th November 2009 Africa-focused explorer Mwana Africa has reported that the Industrial Development Corporation (IDC) has approved the provision of up to $10-million debt funding for the development of the Freda Rebecca gold mine, in Zimbabwe. The miner said in a statement on Wednesday that the provision of the... 

Gold Fields targets 1Moz from South America by 2015

By: Loni Prinsloo     4th November 2009 With South America generally being viewed as Gold Fields’ runner-up region, the area is now positioning itself for growth and reaching one-million ounces in gold production and development within five years. This may sound ambitious, but speaking at the company’s analyst day in Johannesburg,... 

Operations at affected area of Kloof mine to resume on Wednesday

By: Esmarie Iannucci     4th November 2009 South African gold producer Gold Fields reported that operations at its Kloof mine, near Carletonville, were likely to restart in the area affected by an earlier fatality, later on Wednesday. It was expected that an inspectorate of the Department of Mineral Resources would complete its... 

Wesizwe board asks founding CEO, director to step down

By: Martin Creamer     3rd November 2009 The board of platinum junior Wesizwe has asked the company's founding CEO Michael Solomon as well as fellow director Robert Rainey to step down "with immediate effect". A terse Stock Exchange News Service (Sens) announcement said that Wesizwe's current financial director Nyasha Tengawarima would... 

Gold rises to new record

By: Creamer Media Reporter      3rd November 2009 The price of gold jumped to a new high on Tuesday, buoyed by news that India's central bank had bought 200 t of the yellow metal from the International Monetary Fund. Gold futures rose to $1 088,50 in the US, despite a positive move by the US currency.  

DiamondCorp to raise £600 000 to fund Jwaneng South drilling programme

By: Esmarie Iannucci     3rd November 2009 South African diamond-miner DiamondCorp on Tuesday reported that it would place up to six-million fully paid ordinary shares, at 3p a share, to raise up to £600 000. The new shares represented 14,6% of the company's issued share capital and would rank pari passu with all existing shares. 

SA govt will allow Chamber input on ‘unfair' Mining Charter review  

By: Martin Creamer     3rd November 2009 The South African government had completed its review of the Mining Charter, Mineral Resources Minister Susan Shabangu said on Tuesday. Shabangu said at the annual general meeting of the Chamber of Mines (CoM) that she was aware that the CoM regarded the government's review of the charter as... 

Sundance Resources acquires second drill rig to accelerate exploration

By: Esmarie Iannucci     3rd November 2009 ASX-listed iron-ore company Sundance Resources has purchased a second diamond drilling rig which would enable it to accelerate exploration of high-grade hematite prospects at its Mbalam iron-ore project, in West Africa. The second track-mounted drill rig would supplement the rig currently being... 

Nationalisation call based on mining being ‘gem in SA crown' – Chamber  

By: Martin Creamer     3rd November 2009 The underlying logic of the call to nationalise South Africa's mining industry was the mining sector's status as "a precious gem in our country's sovereign crown", Chamber of Mines (CoM) president Sipho Nkosi said in Johannesburg on Tuesday. Nkosi, who was elected unusually to serve a third term... 

Sustainable mining goal not ‘pie in the sky’ – Holland

By: Loni Prinsloo     3rd November 2009 Gold Fields was not necessarily aiming to be the biggest gold mining company in the world, but rather to be the best and most sustainable company in the business, stated Gold Fields CEO Nick Holland.  

Greater R&D investment imperative to meet mining industry challenges

By: Esmarie Iannucci     3rd November 2009 State-owned minerals body Mintek on Monday called for a larger investment in research and development (R&D), specifically relating to mining technologies and practices. Speaking at the inaugural Mine-Tech International conference, Mintek CEO Abiel Mngomezulu noted that R&D expenditure was... 

Harmony appoints new financial director, Abbott moves to board

By: Creamer Media Reporter      3rd November 2009 South African-focused miner Harmony Gold has appointed Hannes Meyer as its financial director, effective November 1. Meyer, who is a qualified chartered accountant with more than 13 years experience in the mining industry, succeeded former financial director Frank Abbott, who was appointed as an... 

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