Articles By Region: West Africa
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Alan Watling, recently installed chief executive of burgeoning iron ore producer, African Minerals Ltd, will ask offtake partners to pay more for their ore as part of a cunning plan to make the flagship Tonkolili project “cash flow positive on a sustainable basis” by year end.
New York-listed Golden Star Resources Ltd’s Wassa underground gold project in Ghana has the potential to provide a post-tax net present value (at a 5% discount) of US$350 million at a gold price of US$1,300/oz, according to a recent preliminary economic assessment
The financial metrics of the Mofe Creek iron ore project suggest its owner Tawana Resources NL is a compelling little investment story. Which in reality it has to be given Mofe Creek is not only an iron ore project (and hence in a sector very much on the nose at the moment), but it’s also one located in Liberia.
Sierra Rutile Ltd delivered a decent set of first half results in difficult circumstances, which may begin to stem the bloodletting for the mineral sands miner toward the back of what has already been a tough year.
Chinese and Japanese firms are being sounded out by Glencore plc and Zanaga Iron Ore Company Ltd (ZIOC), joint owners of one of the most promising iron ore deposits in West Africa, Mining Journal can reveal.
Mozambique election looms; Afghanistan drawdown; Pakistan’s kingmaker; Nigeria vulnerable.
Investec said what we were all thinking, Mark Bristow said what he was thinking (no surprises there), and AngloGold Ashanti’s Srinivasan Venkatakrishnan has a lot more to think about after the company’s plans to unbundle its international assets into a London listed gold company and raise US$2.1 billion to pay down debt took a few days to dissolve.
Chief executives (CEOs) from the mining and mining services sectors have called on the international community to step up the fight against Ebola
True Gold Mining Inc says it has saved a hefty US$35 million for its Karma gold project in the west African country
Long-time African gold miner Resolute Mining Ltd has a good line of production growth on its horizon in Mali and Ghana.
There were important glimpses at the present, and future, of the global iron ore business this week amid Fe sales prices drifting further below US$90/t. Those prices are not just hitting corporate bottom lines, but state and national finances.
Global resources investor Gennadiy Bogolyubov has agreed to invest A$40 million (US$37.3 million) in Sundance Resources Ltd, the Australia-listed developer of the Mbalam-Nabeba iron-ore project in Cameroon and the Republic of Congo
The recent signing in Conakry of an investment framework for the Simandou iron ore project marks the beginning of a new chapter in a long-running story.
Perseus Mining Ltd said its board might be able to make a development decision on the Sissingue gold deposit in the Ivory Coast in early 2015, more than four years after a feasibility study was released on the project.
Mark Bristow’s appetite for many things – major new gold finds, corporate evolution and regeneration, the yellow metal itself … Africa – is unsated, it seems. The 55-year-old CEO of Randgold Resources Ltd has lately spoken of passing the leadership baton but he gives the impression he’s still got much unfinished business with the market-leading gold miner.
BlackRock believes the pendulum may once again be swinging in favour of gold
Removing the price fix for gold and silver may cause a rethink on the reliance on spot prices in contracts
Bulls’ and bears’ profits move back and forth with the price, but it is a flexible strategy that will win out
Years of expanding production, runaway costs and ever-higher spending have given way to caution
The gold standard is gone, but the metal is gaining popularity as central banks seek alternatives to the dollar
A quick look at the NYSE Arca Gold BUGS index shows that while gold producers have recovered some of the ground lost last year, their share prices remain closely linked to the price of the metal they produce.
Despite progress in mine safety in 2012-2013, a recent report by the International Council on Mining Metals (ICMM) reveals that fatalities have shown no sign of abating.
About 15 months ago, the gold mining industry hit rock bottom. The price, testing US$1700/oz in January of 2013 was, by the end of June below US$1200/oz. Everyone from junior explorers to major producers were under severe pressure.
A West African junior gold explorer banking a total of nearly A$6 million (US$5.6 million) in funding from two different parties in the past three months would seem as good an indicator as any the ground Golden Rim Resources Ltd holds in Burkina Faso has high promise.
Regeneration is a big theme at Randgold Resources, the African gold company formed in the 1990s that has had a knack of uncovering a major deposit every five years or so. It is about due for another one, chief executive Mark Bristow says
True Gold Mining Inc has shored up financing for construction of its 97,000oz Karma gold project in Burkina Faso
Iron-ore miner Bellzone Mining plc has failed to secure long-term financing to bring its Kalia project in Guinea into production and is now looking for US$4 million to keep it operating until late October
West-African focused exploration and development company Hummingbird Resources plc has secured a two-stage debt facility from Taurus Mining Finance Fund for its Yanfolila gold project in Mali
As the Ebola death toll enters quadruple figures and miners across West Africa step up measures to curb the spread of the virus, the biggest news came last week when ArcelorMittal issued a statement saying contractors at its phase 2 expansion project in Liberia had declared force majeure.
African Minerals plc issued a statement regarding the dramatic fall in its share price (down 30% in one week), confirming it “continues to operate in line with market guidance”
Multinational law firm Dentons has filed a claim against the Republic of Guinea for US$10.2 million in unpaid fees related to advisory work on the Simandou iron-ore project, LegalWeek reported
ArcelorMittal and Glencore plc are potential bidders for the northern half of Guinea’s Simandou iron-ore project, Bloomberg reported, citing people familiar with the matter
Different views of a project are common, but for junior miners and consultants the differences are often deep
West African travel and mineral exports face an increased risk of disruption as response to Ebola virus intensifies.
West African Minerals Corp will likely narrow its focus to just one project in Cameroon where it holds a 100% interest in five iron ore exploration licences over an extensive lease area of about 4000 square kilometres.
As the Ebola virus continues to wreak havoc across West Africa, miners operating in the region are leaving no stone unturned to help prevent further spread of the disease
Today, Mining News & Networking, Aspermont’s LinkedIn group dedicated to the mining industry, reached a landmark with the arrival of its 10,000th member
Read articles from the latest Print Edition - MJ 19/09/14
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