R/€ = 14.77 Change: -0.01
R/$ = 11.97 Change: -0.01
Au 1345.40 $/oz Change: -7.39
Pt 935.00 $/oz Change: -15.81


Semafo’s Boungou mine 91% complete

By: Henry Lazenby     Updated 5 hours ago Montreal-based miner Semafo reported on Thursday that construction of the Burkina Faso-based Boungou mine, in Burkina Faso, is 91% complete, and 10% of the equipment has already been commissioned. Commissioning exercises started in February, focusing first on the crushing circuit equipment and... 

Acacia reports lower Q1 adjusted net earnings, but maintains FY production target

By: Marleny Arnoldi     19th April 2018 Tanzanian gold miner Acacia Mining reported adjusted net earnings of $7-million for the quarter ended March 31, which is 73% lower than the $26.8-million adjusted net earnings reported for the first quarter of 2017.  

Trevali Q1 output a mixed bag but in line with expectations

By: Henry Lazenby     13th April 2018 Zinc-focused miner Trevali Mining has reported first-quarter production that was generally in line with expectations as previous guidance had indicated a light quarter relative to the rest of the year, owing to the impact of seasonal winter conditions on Caribou’s zinc recoveries, in New... 

Burkina Faso to end Timis unit's $1bn manganese deal

By: Bloomberg     12th April 2018 Burkina Faso will proceed with plans to end its agreement with a unit of Timis Mining Corp. to mine a $1-billion manganese deposit even though a dispute about the operation is still pending at the International Court of Arbitration. The West African nation will give Pan African Minerals 90-days... 

Canadian miners report strong Q1 production

By: Henry Lazenby     11th April 2018 Several Canadian miners have started publishing their production results for the three months ended March 31, reporting a strong start to the calendar year. Toronto-based Kirkland Lake Gold has reported strong first-quarter results, with output growing 13% year-on-year to 147 644 oz of gold. 

Avesoro achieves record production at Liberia, Burkina Faso mines in March quarter

By: Marleny Arnoldi     9th April 2018 West African gold producer Avesoro Resources achieved record production at its New Liberty gold mine, in Liberia, and its Youga and Balogo gold mines, in Burkina Faso, in the quarter ended March 31. 

Free trade deal is much ado about nothing

By: Riaan de Lange     6th April 2018 It is the eightieth day of the year as I sit down to write this piece – the first full day of the sign of Aries. In case you are wondering, there are 285 days until the end of the year, and, in another 65 days, it will be Tax Freedom Day. It means that you will need to work up to May 25 to pay... 

West African exchange in charm offensive

By: Martin Zhuwakinyu     6th April 2018 It is refreshing to notice that the regional stock exchange in the French-speaking West African Economic and Monetary Union (WAEMU) is not keeping the eight-country bloc’s shining light under a bushel. The WAEMU region – which comprises Cote d’Ivoire, Benin, Togo, Burkina Faso, Niger, Mali,... 

Gold price seen 'moving north' as world fails to replace output

By: Bloomberg     5th April 2018 Bullion prices are set to rise because there’s been a lack of exploration and the global industry isn’t replacing the reserves it’s been mining, according to Stephen Letwin, CEO at Iamgold. “Gold has a much higher probability of moving north as opposed to south,” Letwin said in an interview at... 

Birimian reports cost savings at Mali lithium project

By: Esmarie Swanepoel     20th March 2018 Lithium hopeful Birimian has reported a number of cost cuts at its Goulamina project, in Mali, following the optimisation of the prefeasibility study (PFS). Birimian on Tuesday reported that transport and handling costs have reduced by an estimated 47%, from $187/t to $100/t, while power costs... 

15 MW Essakane hybrid plant inaugurated in Burkina Faso

By: Simone Liedtke     19th March 2018 The 15 MW Essakane solar plant, in northern Burkina Faso, has been officially opened. The photovoltaic (PV) plant will supply electricity to Iamgold's Essakane gold mine. 

Avocet sells Norwegian subsidiary Wega

By: Simone Liedtke     16th March 2018 Gold mining and exploration company Avocet Mining has sold its wholly-owned Norwegian subsidiary Wega Mining and certain intercompany receivables to Natholmen for $400 000 in cash. The sale forms part of a larger restructuring effort involving its overdue loans totalling $29.2-billion to creditor... 

PEWA to set stage for African energy investment once again

By: Marleny Arnoldi     16th March 2018 With 600-million people in Africa not having access to electricity, the onus is on Power & Electricity World Africa (PEWA) to provide the platform that will encourage investment in infrastructure and grid connection across Africa.  

Trevali's African assets shine as strong Q4 marks year in the black

By: Henry Lazenby     14th March 2018 Zinc producer Trevali Mining's fourth-quarter performance has sealed a positive year for shareholders, rewarding them with profit as the company's expansion into Africa pays off. The Vancouver-headquartered company reported net income of $25.2-million, or $0.03 a share, up 260% from $7-million,... 

Drilling starts on Thor's Senegal assets

By: Henry Lazenby     12th March 2018 Toronto-quoted exploration junior Thor Explorations has puller the trigger on an 8 000 m reverse circulation (RC) drilling programme on its Douta project, in south-east Senegal. This programme follows on from its successful 2017 RC drilling programme that had identified a number of wide,... 

Sarama increases previously announced placement to C$4m

By: Anine Kilian     12th March 2018 TSX-V-listed Sarama Resources has increased its previously announced private placement from C$3-million to C$4-million, owing to strong support from existing shareholders and new investors. The company has increased its offering to up to 40-million common shares at a price of C$0.10 a common... 

WBHO believes SA’s construction cycle has bottomed

By: Irma Venter     9th March 2018 Despite the changing political landscape in South Africa, the construction industry, which has been in the doldrums over the last 24 months, will not immediately experience a change in fortunes, warns Wilson Bayly Holmes-Ovcon (WBHO) CEO Louwtjie Nel. “Government has lots of obligations. We won’t... 

Africa attracts 14% of world's 2017 exploration budget - S&P's

By: Megan van Wyngaardt     5th March 2018 Africa attracted 14% of the $8.4-billion budgeted for exploration for nonferrous metals globally in 2017, Standard & Poor's (S&P's) 'Global World Exploration Trends' report highlights. Exploration in Africa was focused mainly on the Democratic Republic of Congo (DRC), Burkina Faso, Tanzania and... 

Avesoro sets FY18 production guidance at up to 240 000 oz

By: Simone Liedtke     5th March 2018 TSX- and Aim-listed West African gold producer Avesoro Resources expects to produce between 220 000 oz and 240 000 oz of gold at an operating cash cost of between $620/oz and $660/oz this year. "The operational turnaround at New Liberty is substantially complete and it is now delivering to the... 

WBHO sees 67% jump in profit, believes the cycle has bottomed out

By: Irma Venter     27th February 2018 Despite the changing political landscape in South Africa, the construction industry, which has been in the doldrums over the last 24 months, will not immediately experience a change in fortunes, warns Wilson Bayly Holmes-Ovcon (WBHO) CEO Louwtjie Nel. “Government has lots of obligations. We won’t... 

Aforo shifts focus to Burkina Faso

By: Megan van Wyngaardt     26th February 2018 Australian gold miner Aforo Resources has signed a joint venture option agreement for two gold projects in Burkina Faso, including Nordgold's Niare gold project where a non-Joint Ore Reserves Committee-compliant gold resource of 98 000 oz at 1.36 g/t gold has been defined. Minor shareholder... 

Burkina Faso seeks new partner for $1bn manganese project

By: Bloomberg     22nd February 2018 Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1-billion project. Pan African Minerals, a unit of Timis Mining, was told to stop production at the Tambao mine in 2015 following a change in... 

Senegal utility awards €197-million grid expansion contract

By: Nadine James     16th February 2018 Electrical transmission, engineering and maintenance provider Omexom, a subsidiary of Italian energy company VINCI Energies, has won the Société d’Electricité du Sénégal (Senelec) contract to install five new extra-high voltage (EHV) transformer stations, nearly 200 km of overhead and underground... 

Chaarat appoints new COO

By: Creamer Media Reporter      14th February 2018 Aim-quoted Chaarat Gold has appointed Peter Carter as COO. The company, which is developing the Chaarat project in Kyrgyz Republic, said on Wednesday that Carter had more than 30 years' experience in openpit engineering, mine management and project development.  

Middle Island to exit West Africa as focus shifts to Australia project

By: Megan van Wyngaardt     13th February 2018 ASX-listed Middle Island (MDI) has signed a heads of agreement (HoA) to sell its remaining gold interests in West Africa, as its focus shifts to Western Australia. The HoA with TSX-V-listed Tajiri Resources grants that company an option to acquire a 100% interest in the Reo gold project, in... 

Canada's Thor Explorations may raise up to $35m in a London listing

By: Reuters     12th February 2018 African miner Thor Explorations will most likely choose London's junior AIM market to list its shares this year in its bid to raise up to $35-million, its chief executive said on Friday. Thor, which is already listed in Toronto's TSX Venture Exchange (TSX-V), will use the proceeds of the new... 

Relief for Cape Town as mining indaba proceeds despite water shortage

By: African News Agency      9th February 2018 The acute water shortage in South Africa’s tourism capital Cape Town almost cost it crucial revenue when the organisers of an annual international mining conference considered scrapping this year's event in the city. But the Investing in African Mining Indaba went ahead this week despite strict... 

Maverix achieves Q4 production record

By: Henry Lazenby     8th February 2018 Mining royalties investment vehicle Maverix Metals has hit a new fourth-quarter production record, reporting 4 000 oz of attributable gold-equivalent output, which reflects a 40% year-on-year improvement. Total attributable output for fiscal 2017, the company's first full year of operations, is... 

Avocet again delays sale of Resolute

By: Anine Kilian     31st January 2018 The completion of the sale of Aim-listed Avocet Mining’s Resolute Mining subsidiary to Balaji Group has been delayed again, this time to February 8. Completion of the sale was initially expected to occur on January 11, but was subsequently pushed back by five days to January 25 and now to... 

Centamin FY17 profit, Ebitda falls on higher costs, lower revenues

By: Dylan Slater     31st January 2018 Higher production and operating costs and lower revenues resulted in gold miner Centamin’s pretax profit falling by 16% year-on-year to $224.09-million for the year ended December 31. 

Avocet defers sale of Resolute to January 30

By: Anine Kilian     26th January 2018 The completion of the sale of Aim-listed Avocet Mining’s Resolute Mining subsidiary to Balaji Group has been deferred by five days to January 30. Avocet in December announced that it had entered into an agreement to sell all its assets in Burkina Faso, including the Inata gold mine, to Balaji for... 

Junior projects lighting bright path into Africa for ‘search and solve’ group

By: Martin Creamer     26th January 2018 Motor and controls manufacturer Zest WEG Group, which designs, manufactures, markets and installs electrical products and solutions across the full electrical spectrum, is achieving great success with its new specially crafted ‘pavement pounding, search and solve’ business model that ensures... 

Avesoro well-positioned to increase production levels, continue exploration

By: Megan van Wyngaardt     24th January 2018 Dual-listed Avesoro Resources expects to produce between 220 000 oz and 240 000 oz of gold this year, a 25% year-on-year increase, as significant additional ounces delineated by drilling along strike from current mining operations at the Youga gold mine, in Burkina Faso, would be added. The West... 

Endeavour Mining upbeat about 2018 prospects

By: Megan van Wyngaardt     24th January 2018 TSX-listed gold producer Endeavour Mining has achieved full-year guidance across its operations, on the back of a strong fourth quarter. During the three months to December, group production increased by 38% over the previous quarter to 204 000 oz, while all-in sustaining costs (AISC) declined by... 

West African gold explorer lists in Australia

By: Mia Breytenbach     18th January 2018 West African gold developer and explorer Tietto Minerals started trading on the ASX on Thursday, following its successful initial public offer (IPO) that raised A$6-million from institutional and high net worth investors, including two global resources funds. The company issued 30-million shares... 

Acacia completes sale of royalty over Burkina Faso mine

By: Megan van Wyngaardt     17th January 2018 Embattled gold miner Acacia Mining has completed the sale of an existing 2% net smelter royalty over the Houndé mine, in Burkina Faso, for $45-million. The LSE-listed company in December said it was selling the royalty to Canadian miner Sandstorm Gold after its three producing gold mines in... 

Top 10 zinc miner Trevali lifts 2018 guidance 140% as zinc powers to 10yr high

By: Henry Lazenby     16th January 2018 Canadian zinc miner Trevali Mining expects to produce 140% more zinc this year, following a transformational 2017 that saw it produce a record 177.4-million payable pounds of zinc. The 2017 output was boosted by the December quarter production from the newly acquired Perkoa mine, in Burkina Faso,... 

Avocet defers sale of Burkina Faso operations at buyer’s request

By: Megan van Wyngaardt     12th January 2018 Aim-listed Avocet has deferred the completion of the $5-million sale of its Resolute operations in Burkina Faso, to Ghana-based Balaji Group, to January 25. The struggling miner set the sale in motion last year to stave off potential bankruptcy for its units in the West African country, with the... 

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