Dredging and panning produce 10 to 15 tonnes of gold per year according to government figures, versus 60 tonnes from the industrial sector.
Africa Mining News
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.
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.
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.
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 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.
A court hearing between Vedanta and the government of Zambia over control of its Konkola Copper Mines (KCM) business was adjourned on Friday.
Almost all recorded gold was from industrial-scale mining, with just 800 kilograms recorded from artisanal mines.
The Canadian miner said its long-term growth strategy focus on developing its existing pipeline of?projects, while seeking global exploration?opportunities.
If the transaction with owner Metallon Corp. is concluded, B2Gold will invest $150 million to $200 million developing the Shamva gold mine.
The liquidation application was brought against Vedanta-controlled KCM by Zambian state-owned ZCCM-IH, which holds a 20.6% stake in the unit.
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.
Vedanta Resources Ltd. is learning the hard way that when it comes to Zambia’s copper-mining industry, history tends to repeat itself.
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.”
The country’s Eurobond curve is inverted, a rarity and a signal its assets are in distressed territory.
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.
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.
The single highest cause of deaths in 2018 was from mobile mining equipment — the ICMM is exploring collision avoidance technology.
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.
The government will receive proposals from interested parties until the end of the year on how to expand production.
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.
Comments come after parent company Barrick Gold proposed to acquire all of the shares it does not already own in the Tanzanian miner.
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.
The news has rattled foreign investors already nervous governments in central African countries are seeking a much bigger share of resource revenues.
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.