Africa Mining News

Mali to suspend gold dredging and panning for environmental reasons

Dredging and panning produce 10 to 15 tonnes of gold per year according to government figures, versus 60 tonnes from the industrial sector.

At least nine illegal Zimbabwean miners die after mine collapse

At least nine illegal gold miners have died in Zimbabwe after they detonated explosives underground and were trapped at a mine owned by Metallon Corp.

Barrick’s bid for Acacia an “appropriate” and “elegant” solution to Tanzania woes — CEO

The $285-million takeover bid, considered by some analysts and Acacia’s minority shareholders as a low, would see the world's second largest gold miner buying the remaining 35% of the African miner it does not already own, at a discount.

Danakali about to secure financing for potash project in Eritrea

Debt financing agreements worth $200 million could be finalized “any day” and are expected to catalyze equity financing to start the almost 30-month development of the 1.1 billion-tonne Colluli sulphate of potash project, the company said.

South African carbon tax finally becomes law

The tax was first mooted in 2010 but has been postponed at least three times after www.xstvk.icupanies, steelmakers and state-owned power utility Eskom said it would erode profit and push up electricity prices.

Ghana seeks investors to mine untapped bauxite sources

Ghana Integrated Aluminium Development Corp. is receiving proposals on how to expand bauxite production and build refining and smelting capacity for the manufacturing of alumina and aluminum.

Vedanta's Zambia liquidation case adjourned until June 4

A court hearing between Vedanta and the government of Zambia over control of its Konkola Copper Mines (KCM) business was adjourned on Friday.

Mali official gold exports increase 15% in 2018 to over 61 tonnes

Almost all recorded gold was from industrial-scale mining, with just 800 kilograms recorded from artisanal mines.

B2Gold not buying Zimbabwe project, not interested in M&A

The Canadian miner said its long-term growth strategy focus on developing its existing pipeline of?projects, while seeking global exploration?opportunities.

B2Gold said to be in talks to buy Zimbabwe gold project

If the transaction with owner Metallon Corp. is concluded, B2Gold will invest $150 million to $200 million developing the Shamva gold mine.

Vedanta says to challenge appointment of provisional liquidator of Zambia's KCM

The liquidation application was brought against Vedanta-controlled KCM by Zambian state-owned ZCCM-IH, which holds a 20.6% stake in the unit.

Zimbabwe awards platinum concession to firm linked to Nigerian billionaire

Bavura Holdings, in which Nigerian billionaire Benedict Peters is a major shareholder, would sign an agreement to mine platinum on Zimbabwe's mineral-rich Greak Dyke.

A copper mining lesson from Zambia: history repeats itself

Vedanta Resources Ltd. is learning the hard way that when it comes to Zambia’s copper-mining industry, history tends to repeat itself.

IMF, Congo meet as President Tshisekedi seeks reconciliation

Felix Tshisekedi, who replaced Joseph Kabila after elections in December, told delegates while on a visit to Washington that he’d come “to untangle the dictatorial system which was in place.”

Yields on Zambia's Eurobonds climb to 20% amid spat with miners

The country’s Eurobond curve is inverted, a rarity and a signal its assets are in distressed territory.

Biggest Africa investor goes to London for Lonmin decision

South Africa’s Public Investment Corp. faces a tough choice: back Sibanye Gold’s takeover of Lonmin, and take a hit on its investment, or scupper the deal and risk having to pony up more cash for the platinum miner.

Zambia's Chamber of Mines just deepened worries of sinking global copper output

Copper output in Africa’s second largest producing country could decline by as much as 100,000 tonnes this year, adding to recent, sharp declines at the world’s main producing nations.

ICMM 2018 mining safety data released

The single highest cause of deaths in 2018 was from mobile mining equipment — the ICMM is exploring collision avoidance technology.

Zimbabwe mine output subdued in first quarter as dollar crunch bites

Gold deliveries to central bank unit Fidelity Printers and Refiners, which buys all the country's gold, declined to 6.5 tonnes from 7.3 tonnes during the January-March quarter.

Ghana seeks investors to mine bauxite, fund infrastructure

The government will receive proposals from interested parties until the end of the year on how to expand production.

To borrow $500m, Zimbabwe pledges mine that doesn’t exist

The collateral for African Export-Import Bank’s $500 million loan to Zimbabwe is a mine that Great Dyke Investments, a venture between Russian investors and the Zimbabwean military, plans to build at a cost of $4 billion.

Acacia blames Barrick for barring it from Tanzania talks, mulls takeover bid

Comments come after parent company Barrick Gold proposed to acquire all of the shares it does not already own in the Tanzanian miner.

Tanzania to start cancelling inactive mining licences

Tanzania will start cancelling inactive mining exploration licences and distribute the acreage to artisanal miners who are able to immediately commence activity in the area.

Vedanta, KCM seek urgent Zambia talks, court appoints liquidator

The news has rattled foreign investors already nervous governments in central African countries are seeking a much bigger share of resource revenues.

Zambia's plan to seize copper mines stuns investors

Zambia’s Eurobond yields rose to record highs after the government of the cash-strapped copper producer said it’s planning to seize Vedanta’s mining assets.