Articles By Region: West Africa
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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
West African gold producer Endeavour Mining Corp’s first-half production results surpassed expectations
UC Rusal has started the first stage of its Dian-Dian bauxite project in Guinea, which will see the construction of a 3Mt/y mine, a 25km road and will cost US$220 million
The infill drilling programme at Amara Mining plc’s Yaoure gold project in Ivory Coast could add significant ounces to existing resources, while also reducing the strip ratio of the project, according to analysts.
The latest work by the World Economic Forum has focused on defining scenarios for the future of the mining industry. Here the WEF explains just how the future might look
Starting as little more than a ‘something must be done’ idea, the Extractive Industries Transparency Initiative has developed into the most prominent standard for good governance in oil and minerals rich countries
African Minerals Ltd has been ordered by a London court to pay US$35 million, plus interest and costs to Renaissance Capital for the financial adviser’s fees related to fund raisings and transactions in prior years
Bellzone Mining plc and the China International Fund (CIF), joint-venture partners on the Forecariah iron-ore mine in Guinea, are in dispute with the contracted barge operator at the Konta port regarding safety performance
Rio Tinto has identified ways to contribute to local conservation in Guinea and India
A US$20 million groundwater research programme aims to bring benefits to Africa’s poorest people
William Vest-Lillesøe’s photograph shows 13-year-old Karefa Jalloh, who spends his weekends working in the gold mines with men, women and children from Dalakuru in northern Sierra Leone
There were strong signals for miners and mineral explorers from the latest United Nations Conference on Trade and Development World Investment Report, which, rather than green investment shoots, offered a field of evidence as to why miners (including the Top 100 in this edition of Mining Journal) should feel better about the underlying vision of economic growth that they’re consistently presenting to investors.
“E’s not pinin’! E’s passed on! This parrot is no more! He has ceased to be!” - Monty Python’s Flying Circus
The availability of finance for mining projects in Africa, as elsewhere, has been a matter of some considerable concern for the last three or four years. A succession of events affecting global capital markets, commencing with the banking crisis, has successively impacted the availability of both debt and equity.
Read articles from the latest Print Edition - MJ 29/08/14
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