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Africa can benefit from global volatility

By: Kim Cloete     17th August 2017 Despite major global challenges, including global trade, Africa has the opportunity to step up to global change and benefit from the volatility that is shaking up the world, says Thomson Reuters Africa MD Sneha Shah. “Africa has the richest resource pool in the world, but we always lose, because... 

Bisie boxcut nears completion, first tin concentrates in 2019

By: Ilan Solomons     15th August 2017 Tin exploration and development company Alphamin Resources is nearing completion of the boxcut at its 9 900 t/y Bisie tin project, in North Kivu, in the Democratic Republic of Congo (DRC). Alphamin CEO Boris Kamstra tells Mining Weekly Online that local earthworks contractor Kongo River, which is... 

Aussie junior secures Chinese funding for DRC lithium project

By: Esmarie Swanepoel     10th August 2017 ASX-listed junior AVZ Minerals will raise A$15-million to fund work at its Manono lithium project, in the Democratic Republic of Congo, where it aims to define a mineral resource by early next year. The company on Thursday reported that the placement would include a A$13-million strategic... 

SADC needs to promote intra-bloc trade and South Africa should lead – OECD

By: Keith Campbell     4th August 2017 The Organisation for Economic Cooperation and Development (OECD), in its July 2017 survey of the South African economy, has urged South Africa to promote further economic integration within the Southern African Development Community (SADC). “SADC is already the largest export market and a major... 

Cash-flush Randgold in massive Côte d’Ivoire gold discovery

By: Martin Creamer     3rd August 2017 The exploration team of Randgold Resources, which on Thursday reported a 53% leap in half-year profits, plus cash on hand of $572.8-million even after the $94-million dividend payout, has defined a large target in Côte d’Ivoire, which is considered to be “potentially the most exciting gold... 

Grand Inga hydropower project, Democratic Republic of Congo

By: Sheila Barradas     21st July 2017 Government has decided to more than double the size of its planned Inga 3 hydroelectric plant – the first stage of the much larger Grand Inga project. 

Kibali continues to deliver steady performance as it finalises full commissioning

By: Creamer Media Reporter      18th July 2017 The two remaining components of Randgold Resources’ Kibali gold mine – its underground shaft system and a third hydropower plant – are both on track. The underground shaft system is expected to be commissioned this quarter, with the underground mine to produce about 2.2-million tonnes of ore this... 

Banro’s lower gold output leaves year-end guidance out of reach

By: Natasha Odendaal     18th July 2017 Dual-listed Banro Corporation’s Twangiza and Namoya operations produced a combined 38 739 oz of gold during the second quarter of this year, bringing the year-to-date production to 84 954 oz of gold. The lower-than-expected gold production from both mines, along with the ongoing challenging... 

Ivanhoe's Congo success follows deals with President's brother

By: Bloomberg     18th July 2017 In the two decades since billionaire mining investor Robert Friedland founded Ivanhoe Mines, his small team has made some of the biggest mineral discoveries in the world. In the Democratic Republic of Congo, it has done so while trading and contracting with companies controlled by one of... 

Cape Lambert signs over cobalt rights in DRC

By: Esmarie Swanepoel     13th July 2017 ASX-listed Cape Lambert has entered into a binding term sheet with fellow-listed FE Limited to assign its rights over the Kasombo copper-cobalt project, in the Democratic Republic of Congo. Cape Lambert established rights to the Kasombo project in May this year after signing a joint venture... 

Sub-Saharan Africa mobile users to exceed 500m by 2020

By: Anine Kilian     12th July 2017 More than 500-million people across sub-Saharan Africa will be subscribed to a mobile service by the end of the decade, a new report shows. The report ‘The Mobile Economy: Sub-Saharan Africa 2017’, which was published by GSMA on Wednesday, forecasts that the number of unique mobile subscribers in... 

Banro’s Namoya employees return to work after militia violence shuts mine

By: Megan van Wyngaardt     7th July 2017 Dual-listed Banro Corporation on Friday said mining staff at its Namoya gold operations, in the Democratic Republic of Congo (DRC), have returned to work, following a precautionary evacuation earlier this week. On Monday, fighting between the Congolese army and a local militia forced the miner to... 

Amani cements investment from Luck Winner

By: Esmarie Swanepoel     7th July 2017 ASX-listed Amani Gold has revealed details of a A$25-million investment from Hong Kong-based Luck Winner Investment, after the two parties inked a binding subscription agreement. Under the Stage 1 investment, Luck Winner will invest A$15-million in Amani by subscribing for 300-million shares in... 

Grand Inga hydropower project, Democratic Republic of Congo

By: Sheila Barradas     7th July 2017 The Inga 3 project is not expected to begin producing power until 2024 or 2025. 

Amani declares maiden resource in DRC

By: Esmarie Swanepoel     5th July 2017 ASX-listed Amani Gold has reported a maiden mineral resource of 2.3-million ounces at Kebigada, on its Giro gold project, in the Democratic Republic of Congo. The project is estimated to host some 48.7-million tonnes of resource, grading 1.5 g/t gold, which increased to 78.6-million tonnes at... 

Inga–Kolwezi high-voltage direct current power transmission link project, Democratic Republic of Congo

By: Sheila Barradas     30th June 2017 The project involves the partial upgrade of the 1 700 km Inga-Kolwezi transmission link. 

Randgold keen on DRC mining code review, partnerships to develop young industry

By: Creamer Media Reporter      23rd June 2017 LSE-listed Randgold Resources on Friday said the mining industry would welcome a review of the Democratic Republic of the Congo's (DRC’s) existing mining code in a “young” industry still open to development. However, this review needs to be subject to an inclusive debate, with government and the... 

Grand Inga hydropower project, Democratic Republic of Congo

By: Sheila Barradas     23rd June 2017 The Democratic Republic of Congo government has asked Chinese and Spanish consortiums vying to develop a much-delayed $14-billion hydroelectric project to work together and submit one bid. 

Copper production growth to accelerate to 2021

By: Anine Kilian     19th June 2017 Global copper production growth will be supported by key markets with low operating costs and strong project pipelines in the next four years, according to research firm BMI’s copper outlook report, released Monday.  Global copper mine production, supported by markets and low operating costs, is... 

Court orders MEIBC to be placed under administration

By: Megan van Wyngaardt     13th June 2017 Trade union Solidarity has succeeded in its application to have the Metal and Engineering Industries Bargaining Council (MEIBC) placed under administration. The first of its kind in the country, Solidarity deputy general secretary Marius Croucamp welcomed the judgment by Judge Sean Snyman, noting... 

Owner of $1bn cobalt project says rally is far from over

By: Bloomberg     5th June 2017 Tight cobalt supplies will keep boosting the price of one of this year’s hottest commodities, according to Eurasian Resources Group, which is developing an almost $1-billion project in the Democratic Republic of Congo (DRC). Cobalt jumped 71% this year on surging demand for the metal used in... 

BMI lowers DRC gold production outlook

By: Megan van Wyngaardt     26th May 2017 Lower-than-expected output from the Democratic Republic of Congo’s (DRC's) gold industry during 2016, paired with a weak project pipeline in the coming years, has resulted in research firm BMI revising its gold production forecast for the country up to 2021, downwards. The research firm put the... 

Ivanhoe receives final instalment from Zijin for Kamoa stake

By: Creamer Media Reporter      23rd May 2017 TSX-listed Ivanhoe Mines has received the final installment of $41.2-million owing from a subsidiary of Zijin Mining Group as part of a strategic codevelopment agreement under which Zijin acquired 49.5% of Ivanhoe’s majority stake in Kamoa Holding for $412-million. Kamoa Holding has an indirect... 

Alphamin executes term sheets for $80m in funding for DRC tin project

By: Anine Kilian     18th May 2017 TSX-V-listed Alphamin has executed nonbinding term sheets for $80-million of project debt for its 10 000 t/y Bisie tin project, in the Democratic Republic of Congo (DRC). Construction on the project, which will reach full production in 2019, started in the first quarter of this year and the... 

ERG’s DRC mine delivers 35% increase in copper output

By: Megan van Wyngaardt     17th May 2017 Frontier mine, owned by Eurasian Resources Group (ERG), has delivered more than 107 000 t contained copper in concentrate in 2016, an 35% year-on-year increase in output. ERG on Wednesday said the growth at its flagship mine, in the Democratic Republic of the Congo (DRC), came on the back of its... 

Ivanhoe’s Kamoa-Kakula in DRC now holds 1bn-tonne resource

By: Megan van Wyngaardt     17th May 2017 TSX-listed Ivanhoe Mines’ Kakula discovery, at its Kamoa-Kakula copper project, in the Democratic Republic of Congo (DRC), now contains indicated resources of 116-million tonnes at 6.09% copper, plus inferred resources of 12-million tonnes at 4.45% copper, at a 3% cut-off. The new estimate... 

Banro narrows Q1 net loss as revenue rises 19%

By: Henry Lazenby     16th May 2017 Canadian gold producer Banro has reported a smaller first-quarter net loss as financing expenses and fair value losses have offset higher output, sales and realised prices. The result was despite a 19% increase in operating revenues to $55-million, and was boosted by 14% more ounces sold at 47... 

Mombasa-to-Nairobi rail line set for commissioning

By: John Muchira     12th May 2017 Kenya is gearing up for a new era in railway transport with the impending commissioning of a standard-gauge railway (SGR) system on June 1. The East African nation has depended on a dilapidated metre-gauge railway line for more than a century, but that is about to change, following the completion... 

Integrated Pump Rental Blasts Its Way To Success On Copper Mine

     11th May 2017 Integrated Pump Rental, in JV with EC mining, secured the contract to desilt four acid ponds at a copper mine in the DRC. This recent project follows on the successful completion of the cleaning up of two similar dams by the company at the same mine. Managing director of Integrated Pump Rental,... 

Amani raises A$25m for DRC project

By: Esmarie Swanepoel     10th May 2017 ASX-listed Amani Gold will raise A$25-million through a share placement to fund drilling and metallurgical test work for feasibility studies at its Kebigada project, in the Democratic Republic of Congo (DRC). Amani on Wednesday said that it has entered into a non-binding memorandum of... 

EIB provides €95m support for East African entrepreneurs

By: Mia Breytenbach     5th May 2017 The European Investment Bank (EIB) has signed two new credit lines for East-Africa for €95-million, or about Kshs(Kenyan Shilings)10.45-billion, to be made available through financial institutions Equity Bank and HFC Limited to support smaller local projects in Kenya, Tanzania, the Democratic... 

Randgold’s best first quarter in five years – Bristow

By: Martin Creamer     4th May 2017 Gold mining company Randgold Resources has recorded substantially higher profit in the three months to March than in the corresponding first-quarter period last year. “This is probably the best quarter-one we’ve had for five years,” Randgold Resources CEO Dr Mark Bristow told Mining Weekly Online... 

ABB clinches $30m contract to upgrade DRC electricity link

By: Megan van Wyngaardt     4th May 2017 Automation technology company ABB has been contracted by the Democratic Republic of the Congo’s (DRC’s) national electricity company Société nationale d'électricité (SNEL) to partially upgrade its Inga-Kolwezi high-voltage direct current (HVDC) power transmission link. The $30-million contract... 

Glencore maintains steady Q1 production

By: Natasha Odendaal     4th May 2017 Production in the first quarter of the year across several of triple-listed Glencore’s operations worldwide was marred by adverse weather conditions, including Cyclone Debbie in Australia, flooding in Peru and higher-than-average rainfall in the Democratic Republic of Congo (DRC) and Hunter... 

DRC becoming fastest-growing mining market – BMI

By: Creamer Media Reporter      3rd May 2017 The Democratic Republic of Congo (DRC) will vie with Peru as the fastest growing major mining market in the world during the next five years, forecasts research firm BMI.  The firm states that the DRC benefits from low labour costs, high ore grades and vast untapped resources that will attract... 

Cape Lambert ventures into cobalt

By: Esmarie Swanepoel     3rd May 2017 ASX-listed Cape Lambert has struck a joint venture (JV) deal with Paragon Mining to develop advanced and near-term cobalt and copper projects in the Democratic Republic of Congo (DRC). “The JV agreement with Paragon is a major milestone for the company and follows a period of extensive legal and... 

First Cobalt to form alliance for 70% option on 7 DRC exploration plays

By: Henry Lazenby     2nd May 2017 Junior explorer First Cobalt has signed a letter of intent with an associate of Madini Minerals to form a strategic alliance and earn a controlling interest over seven prospective copper/cobalt exploration properties covering 190 km2 in the Democratic Republic of the Congo (DRC), the company... 

Miners told to move DRC HQs as provinces compete for revenue

By: Bloomberg     25th April 2017 The Democratic Republic of Congo told local units of Glencore, China Molybdenum, Ivanhoe Mines and four other mining companies to relocate their head offices as newly demarcated provinces fight over tax revenue and control of mineral projects. The companies, all headquartered in Lubumbashi, the... 

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