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Articles By Region: West Africa

This page lists all articles relating to West Africa. Bookmark this page or subscribe to the RSS feed to see new articles as they are added.

Liquidity still issue for rising Nordgold

Nikolai Zelenski, who sports a PhD in molecular genetics from the University of Texas, exuded a calm and intelligent air during an interview with Mining Journal after Nordgold reported strong third quarter operating results.

Bentley and Cyest develop MineCycle

Bentley Systems is looking to make a statement at the mine-planning and scheduling end of the mining software market with its new MineCycle product

Liquidity still issue for rising Nordgold

Nikolai Zelenski, who sports a PhD in molecular genetics from the University of Texas, exuded a calm and intelligent air during an interview with Mining Journal after Nordgold reported strong third quarter operating results.

Weighing up the risks

Despite long-standing claims of sub-Saharan Africa’s mineral potential, the mining industry has historically been somewhat short-sighted and risk averse in its approach to the continent.

Sierra Leone card dealt; Greenland in limbo

London Mining’s administrators are on the verge of finalising the sale of the Marampa iron ore mine in Sierra Leone, but the future of the Isua project in Greenland is less clear given the simultaneous downfall of company and government.

Mr Fix-it arrives at Minbos

It might be a bit of a stretch to call Lindsay Reed, Minbos Resources’ new CEO, a doppelganger of Harvey Keitel’s Mr Wolf character, but at least one part of the equation lends itself to the analogy. Minbos is a bit of a basket case that someone needs to come in and sort out.

The blackest of swans

I mercifully haven’t had too much first hand exposure to death, but I imagine it is unpleasant at the best of times for those involved

Niger cabinet approves new Areva deal

Niger’s cabinet ended two years of negotiations by approving a renewal of French company Areva’s uranium production deal, Reuters reported

Alecto’s new chair

AIM-quoted Alecto Minerals has elected Mark Wellesley-Wood to join the board as non-executive chairman with immediate effect

Meran to Stellar

West-Africa focused developer Stellar Diamonds has appointed Liviu Meran to the board as a non-executive director after the resignation of James Campbell

London Mining stock worthless

London Mining’s board has admitted there is “little or no value” left in the equity of the heavily-indebted company following the deterioration of the iron-ore price

Amara positive on resource jump

West African focused Amara Mining has increased the resource base at its Yaoure gold project in the Ivory Coast, following a substantial amount of infill drilling

Roxgold gets debt for Yaramoko

Toronto Stock Exchange Venture-listed Roxgold Inc has secured US$75 million of debt for its Yaramoko gold project in Burkina Faso from Societe Generale and Credit Suisse

Diversification or doubling up?

Addressing the Denver Gold Forum recently, Perseus Mining Ltd chief executive Jeff Quartermaine expressed “a strongly held view” that being a single mine company in West Africa “is a fairly perilous thing to do”.

Amara reduces risks at Yaoure

The resource upgrade at Amara Mining’s Yaoure gold project in Cote d’Ivoire this week has confirmed it as the “pre-eminent gold development asset in West Africa”, according to chief executive John McGloin, but the likely up front capital requirement remains a cloud over the project.

Attracted to the Coast

In March 2012, the Ivory Coast government announced its intention to reform its mining code, which hadn’t been updated since 1995. The key aims were to attract new investors and diversify the country’s economy, with the hope of doubling its gold production – approximately 385,808oz in 2013 – by 2015.

PE flows in

Promising projects continue to attract private equity cash despite the awful market malaise afflicting the resource sector, with junior gold stock Orbis Gold Ltd and iron ore peer Radar Iron Ltd being cases in point in the past week.

Heaps of leaching in Burkina

Heap leach experts who haven’t recently passed through Ouagadougou would likely be rare given the number of developments in the pipeline in Burkina Faso over the short-to-medium term.

London Mining and Glencore in dispute

Struggling iron ore miner London Mining plc has hit another roadblock after revealing off-take partner Glencore plc has refused to pay a cash prepayment the company requested as part of its 1.8Mt/y agreement.

Bellzone misses deadline, suspends shares

Cash-strapped iron ore miner Bellzone Mining plc has failed to get the short-term funding it needed to continue operations in Guinea and, as a result, has suspended its AIM-listed shares.

Strike halts Guelb Moghrein op

Operations at the Guelb Moghrein copper-gold mine in Mauritania have been stopped following strike action by unionised employees, First Quantum Minerals Ltd said.

Watling remodels Tonkolili

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.

Golden Star PEA shines

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

Measuring up

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 spots rainbow

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.

Zanaga hits Asian money trail

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.

RISK OUTLOOK in brief

Mozambique election looms; Afghanistan drawdown; Pakistan’s kingmaker; Nigeria vulnerable.

AngloGold pulls split and rights issue proposal

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.

CEOs call for Ebola action

Chief executives (CEOs) from the mining and mining services sectors have called on the international community to step up the fight against Ebola

Cement boon for True Gold

True Gold Mining Inc says it has saved a hefty US$35 million for its Karma gold project in the west African country

Resolute stand may need changing

Long-time African gold miner Resolute Mining Ltd has a good line of production growth on its horizon in Mali and Ghana.

Elephants in the room

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.

Sundance raises A$40 million through new investor

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

Can Simandou infrastructure deal deliver?

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.

Sissingue could be on the table next year

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.

A conversation with Mark Bristow

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.

A hive of activity

Companies have been very busy while the gold price has been low

Gold is back on the investment radar

BlackRock believes the pendulum may once again be swinging in favour of gold

Finding your fix

Removing the price fix for gold and silver may cause a rethink on the reliance on spot prices in contracts
Read articles from the latest Print Edition - MJ 31/10/14
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PROFESSIONAL PLACEMENTS

Professional PlacementsProfessional Placements: Executive Director - PDAC

The Prospectors & Developers Association of Canada (PDAC) is seeking an Executive Director (ED) to oversee its operations from its headquarters in Toronto, Ontario

COMPANY PROFILES
Russian precious metals company Polymetal International plc’s commitment to establishing an extensive pipeline of growth projects has continued with the acquisition of the Kyzyl gold project.
Russian precious-metals company Polymetal International plc has made significant progress at the Semcha platinum-group metals (PGM) property in the past year as it moves the project towards a preliminary economic assessment
The Republic of Guinea intends to launch, pursuant to the mining Code, a competitive and transparent invitation to tender for three bauxite mining blocks located in the prefectures of Boffa, Boké and Télimélé.
Indochine Mining Limited is developing a high-grade gold project at Mt Kare in PNG by rapidly developing wide, high-grade gold zones
Sarama Resources is a West Africa-focused gold explorer with substantial landholdings in Burkina Faso, Liberia and Mali.
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