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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... 

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... 

Conflict-free cobalt to remain industry question, opportunity as DRC dominates supply

By: Henry Lazenby     22nd April 2017 Sourcing conflict-free cobalt for application in new technologies, such as lithium-ion batteries, will remain both a concern and an opportunity for manufacturers for years to come, as production is dominated by the politically unstable Democratic Republic of Congo (DRC). The Central African... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can be no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012, that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, compared with India’s 7.6%,... 

Banro completes recapitalisation programme

By: Megan van Wyngaardt     20th April 2017 NYSE MKT- and TSX-listed gold mining company Banro Corporation has completed its recapitalisation programme, resulting in the refinancing of its maturing $175-million senior secured 10% notes, due March 1, and a $22.5-million loan with $197.5-million of new secured notes. The company in January... 

Kibali mine on track to increase production, but DRC policies a concern

By: Megan van Wyngaardt     19th April 2017 The underground operation at Randgold Resources’ Kibali gold mine is on track for commissioning to start in the third quarter of this year, which will significantly increase production. The Democratic Republic of Congo- (DRC-) based mine is forecast to deliver around 610 000 oz of gold this year,... 

eDART And Afrivalve Join Forces To Supply Full Range Of Valves And Associated Equipment

     31st March 2017 eDART, South Africa’s specialist slurry valve manufacturer and Afrivalve have joined forces in order to offer a greater range of valves suited to the mining, heavy industry, water and power industries. “We are better placed as a collective to service the valve requirements of these industries... 

Africa’s biggest copper find keeps giving as Ivanhoe hits mineralisation 3.8 km west of Kakula

By: Henry Lazenby     22nd March 2017 The TSX-listed stock of Africa-focused explorer Ivanhoe Mining on Tuesday rose 12% after it announced that it had encountered more shallow, high-grade mineralisation at Africa’s largest copper deposit ever – the Kamoa-Kakula copper discovery, in the Democratic Republic of Congo (DRC). A new hole... 

Congo sees Trump roll-back of Dodd-Frank stoking insecurity

By: Bloomberg     20th March 2017 The Democratic Republic of Congo (DRC) warned that proposals by the Trump administration to roll back laws on so-called conflict minerals from central Africa risks stoking violence by armed groups in the region. The suspension of Section 1502 of the Dodd-Frank Act “in the long run, will... 

Bell Equipment's earnings contract in difficult FY16

By: Natasha Odendaal     16th March 2017 JSE-listed Bell Equipment, emerging from one of the most challenging years in its history, on Thursday said it did not achieve its goal of delivering financially sustainable results in 2016. Hit with tough trading conditions, the discovery of fraud and mismanagement in the group's operation in... 

Nzuri shakes the tin for DRC project

By: Esmarie Swanepoel     16th March 2017 Junior Nzuri Copper will raise A$4.78-million through a share placement to institutional and sophisticated investors, to complete the definitive feasibility study (DFS) at its Kalongwe copper project, in the Democratic Republic of Congo. Nzuri, formerly Regal Resources, on Thursday said the... 

Rain dampens PPC cement sales for January and February

By: African News Agency      13th March 2017 Cement producer PPC said on Monday that adverse weather had negatively affected cement and concrete sales in South Africa during January and February 2017. PPC was providing an operational update which reflected that rainfall in excess of 200 mm was experienced in many parts of the country during... 

Tech metals supply lagging demand as electric car production increases

By: David Oliveira     10th March 2017 The burgeoning lithium-ion battery market, buoyed by increased demand for and production of electric vehicles (EVs), among other end-uses, is making it increasingly difficult for producers of tech metals such as lithium and cobalt to keep pace with the demand from technology developers. Global... 

DRC group responds to Global Witness on royalties issue

By: Martin Creamer     6th March 2017 Democratic Republic of Congo (DRC) group Fleurette has responded to criticism directed at it on the Kamoto Copper Company (KCC) royalties issue. The issue in question centres on the sale by DRC State mining company Gecamines of royalties from Katanga’s KCC project to a Fleurette-owned entity. 

Glencore in pole position to benefit from growing cobalt demand

By: Martin Creamer     1st March 2017 Heightened ownership of the Mutanda and Katanga mines in the Democratic Republic of Congo (DRC) puts cobalt in a strong potential earnings position for Glencore, the world’s dominant supplier of the metal that is attracting attention because of its growing use in electric vehicles (EVs). In an... 

Africa becoming more attractive to mining investors, but policy stifles South Africa’s mining industry

By: Megan van Wyngaardt     1st March 2017 While Zimbabwe and Mozambique ranked in the bottom ten of the most attractive jurisdictions in the world for mining investment, the Canada-based Fraser Institute’s ‘Annual Survey of Mining Companies 2016’, shows that the continent continues to look better for investors and ranks ahead of Oceania,... 

Growth in copper supply to slow through 2020 – ICSG

By: Henry Lazenby     24th February 2017 Global copper mine production growth is expected to slow to 2.5% a year through 2020, down from an average growth rate of almost 4% a year in the last five years, the International Copper Study Group (ICSG) said on Thursday. The Lisbon, Portugal-based think tank cited continued delays in project... 

Air force base sends 60 cadets for training

     24th February 2017 From next year, the South Africa Air Force (SAAF) will send 60 cadets to a military academy in Saldanha in the Western Cape each year to pursue their first degree in their chosen fields. This will include future pilots, navigators, engineers, technicians and other support mustering. 

Analysts acclaim Glencore’s performance as good fundamentals return

By: Martin Creamer     23rd February 2017 Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and... 

Cape Lambert enters into JV to develop DRC copper/cobalt projects

By: Esmarie Swanepoel     21st February 2017 ASX-listed Cape Lambert has inked a joint venture (JV) agreement with Congolese company Paragon Mining to develop the Kipushi cobalt-copper tailings project, the Kasombo copper-cobalt project and operate the Kipushi processing plant, in the Democratic Republic of Congo (DRC). The JV will operate... 

Free cash rockets to $278m, dividend resumed – AngloGold

By: Martin Creamer     21st February 2017 Gold mining company AngloGold Ashanti will resume dividends after lower operating and interest costs helped it nearly double free cash flow to $278-million on lower production. In the 12 months to December 31, AngloGold Ashanti produced 3.6-million ounces of gold across its 17-mine portfolio at a... 

African Utility Week Industry Awards include new gas, small scale and ICT categories to reflect evolution of energy and water sectors

     20th February 2017 Nominations are open for top industry professionals and projects   “I know the energy revolution is powering up and ready to take off. We should embrace energy trade with each other”.  With these words Mr Kandeh Yumkella, UN Under-Secretary-General and Former Special Representative of the... 

Glencore’s DRC copper top-up wins analyst cheer

By: Martin Creamer     14th February 2017 Diversified mining and marketing company Glencore has bought the remaining 31% stake in Mutanda Mining for $922-million and a further 10.25% stake in Katanga Mining for $38-million from Dan Gertler’s Fleurette Group, the company’s joint venture partner. The all-cash transaction will result in... 

Glencore consolidates DRC copper asset ownership

By: Henry Lazenby     13th February 2017 Global diversified miner Glencore has increased its holding in copper assets in the Democratic Republic of Congo (DRC) after buying a 31% interest in Mutanda Mining from billionaire mining tycoon Dan Gertler’s Fleurette Group and a 10.25% stake in Katanga Mining. Glencore paid Fleurette... 

Banro's major shareholders support its recapitalisation

By: Creamer Media Reporter      1st February 2017 Major shareholders of TSX- and NYSE MKT-listed Banro Corporation have agreed to support the company’s recapitalisation, which will see it refinance $207.5-million of outstanding debt, equitize outstanding preferred shares and raise $45-million by way of a gold forward sale. The recapitalisation... 

Africa’s mineral exploration budget 24% lower y/y in 2016

By: David Oliveira     26th January 2017 Although Africa accounted for 13%, or $916-million, of the global mineral exploration budget in 2016, research from Standard & Poor’s (S&P’s) Global Market Intelligence has revealed that that was 24% lower than in 2015. The continent has, thus, dropped to being the fourth-largest investor in... 

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