R/€ = 14.00 Change: 0.02
R/$ = 13.02 Change: -0.08
Au 1252.60 $/oz Change: -1.86
Pt 952.50 $/oz Change: -4.50


Wärtsilä supplies 15 MW solar plant in Burkina Faso

By: Megan van Wyngaardt     22nd March 2017 Technology group Wärtsilä has entered into an agreement with independent power producer Eren Renewable Energy’s 90%-owned Essakane Solar, in Burkina Faso, to supply it with a 15 MW solar photovoltaic (PV) power plant. The remaining 10% is owned by Eren’s development partner African Energy... 

Endeavour, Acacia end merger talks

By: Henry Lazenby     22nd March 2017 Canadian gold miner Endeavour Mining has halted discussions with London-listed Acacia Mining regarding a potential merger. Endeavour, which operates a portfolio of gold mines in West Africa, has held talks with Acacia – which is majority owned by Canada's Barrick Gold – since mid-January. 

Vital raises A$5m to advance Burkina Faso exploration

By: Esmarie Swanepoel     21st March 2017 Metals developer Vital Metals will raise A$5-million through a share placement to accelerate gold exploration in Burkina Faso. The junior told shareholders on Tuesday that some 400-million new shares would be issued, at a price of 1.25c each, to professional and sophisticated investors. 

Trevali expands geographic footprint to Africa as zinc tide rises

By: Henry Lazenby     14th March 2017 Canadian base metals producer Trevali Mining is expanding its geographic footprint into Africa with the $400-million acquisition of diversified mining and marketing company Glencore’s 80% interest in the Rosh Pinah mine, in Namibia, and 90% interest in the Perkoa mine, in Burkina Faso. HSBC... 

Elephant hunter Randgold walks the talk in Africa

By: Henry Lazenby     7th March 2017 The industry is constantly reducing the quality of its asset base and the only way to reverse the trend is to restart the “exploration engine”, Randgold Resources CEO Mark Bristow said in Toronto this week. “It is misguided to think that cutting back on exploration is a good idea, because it... 

West African gold mine signs solar power agreement

By: Martin Creamer     6th March 2017 West African gold mine Iamgold Essakane has signed a 15-year power purchase agreement with renewable-energy providers in a move that will cut its diesel use and lower its carbon footprint.  EREN Renewable Energy and its partner African Energy Management Platform (AEMP) on Monday announced that... 

SA-based company partners with Chad to develop country’s nascent minerals sector

By: Ilan Solomons     3rd March 2017 Gold mining, refining and resources development company Quaestec Gold Africa Resources has partnered with the government of Chad to develop the Central African country’s nascent mineral resources sector, says company CEO Charles Fourie. Chad’s gold deposits occur over 1 200 km, from the south to... 

Endeavour lifts Karma mine’s reserves

By: Megan van Wyngaardt     24th February 2017 An infill drill programme Endeavour Mining’s North Kao deposit, located at the Karma gold mine in Burkina Faso, has confirmed the continuity of the previous inferred resource, resulting in a maiden indicated resource of 314 000 oz amenable to heap leaching and a subsequent conversion of 262 000... 

Sanbrado proves positive for West African

By: Esmarie Swanepoel     20th February 2017 A feasibility study into the Sanbrado gold project, in Burkina Faso, has estimated that the project could produce about 93 000 oz/y over a nine-year mine life. ASX-listed West African Resources has revealed that, over the first three years of production, the mine is expected to produce 150 000 oz/y. 

Mining Indaba remains pivotal to Africa

By: Ilan Solomons     3rd February 2017 The mineral resources sector remains “critically important” to the African continent, which is why the Investing in African Mining Indaba has consistently been regarded as an event of “paramount significance”, says Mining Indaba MD Alex Grose. This is also a key motivation for the at least 24... 

Centamin to focus on growth projects amid good free cash flow, higher FY earnings

By: Megan van Wyngaardt     1st February 2017 Gold producer Centamin on Wednesday reported a 357% increase in its pre-tax profit to $266.8-million for the year ended December 31. This translated into earnings a share increasing from $0.04 in 2015, to $0.23 in the period under review. 

Mining Indaba remains pivotal to Africa 

By: Ilan Solomons     27th January 2017 The mineral resources sector remains “critically important” to the African continent, which is why the Investing in African Mining Indaba has consistently been regarded as an event of “paramount significance”, says Mining Indaba MD Alex Grose. This is also a key motivation for the at least 24... 

Endeavour expects production to rise, costs to fall in 2017

By: Megan van Wyngaardt     23rd January 2017 West-African gold miner Endeavour Mining produced a record 583 712 oz of gold in 2016, at a low all-in sustaining cost (AISC) of around $895/oz, achieving both its ambitious production guidance of 575 000 oz to 610 000 oz and its AISC guidance of $870/oz to $920/oz for the year. This was... 

West African gets permit in Burkina Faso

By: Esmarie Swanepoel     19th January 2017 The government of Burkina Faso has awarded junior gold developer West African Resources a mining permit for its Sanbrado gold project, formerly know as the Tanlouka project. MD Richard Hyde said on Thursday that with the award of the mining permit, the company would now focus on completing the... 

Acacia jumps in London on $4bn Endeavour merger talks

By: Bloomberg     17th January 2017 Acacia Mining jumped to the highest in almost two months after the gold miner confirmed it is in early-stage talks with rival Africa-focused producer Endeavour Mining Corp. about a possible merger of the two companies which have a combined value of about $4-billion. Acacia, which mines the... 

West African Resources targets feasibility study

By: Megan van Wyngaardt     20th December 2016 Gold developer West African Resources’ ongoing high-grade reverse circulation drilling at the M1 prospect, at its 100%-owned Tanlouka gold project, in Burkina Faso, has delivered good results. The ASX-listed company noted on Tuesday that the drilling programme has intercepted 3 m at 16.5 g/t gold... 

The impending trade facilitation agreement

By: Riaan de Lange     16th December 2016 Two years ago, December 12, 2014 to be exact, my last column for the year was simply titled, ‘Trade facilitation’, and now again, my final column for 2016 is devoted to trade facilitation - the World Trade Organization (WTO) Trade Facilitation Agreement (TFA) that is. This time around, however,... 

Zina Solaire solar photovoltaic power plant project, Burkina Faso

By: Sheila Barradas     15th December 2016 The project involves the construction of a 26.8 MW solar photovoltaic plant. 

Sarama formalises accord to buy Orezone’s Bondi project, places scrip in escrow

By: Henry Lazenby     13th December 2016 TSX-V-listed Sarama Resources has formalised an agreement to acquire the Bondi gold project from Orezone Gold, in Burkina Faso, saying it has placed common shares as payment in escrow, pending government approvals and the transfer of the underlying Djarkadougou exploration permit. “We look... 

Mining tycoon’s $1bn manganese project nears collapse

By: Bloomberg     9th December 2016 A unit of Timis Mining that says it was forced to stop developing the world’s largest manganese deposit may seek as much as $4-billion in damages from Burkina Faso because the suspension of mining will endanger its other projects in West Africa. Pan African Minerals’ $1-billion Tambao project... 

Tanlouka gets environmental permit

By: Esmarie Swanepoel     9th December 2016 ASX-listed West African Resources has been awarded an environmental permit for its Tanlouka gold project, in Burkina Faso. “The approval of the environmental and social impact assessment (ESIA) is a major achievement and brings us to the final stages of the permitting process for Tanlouka,” said... 

Sarama appoints veteran accountant as CFO

By: Henry Lazenby     7th December 2016 West Africa-focused gold explorer Sarama Resources has appointed 30-year certified practising accountant Lui Evangelista as its CFO, replacing Nick Longmire who has resigned to pursue personal interests. Evangelista brings 30-years’ experience to the position, and president and CEO Andrew Dinning... 

Burkina Faso says dispute with Timis shouldn’t go to court

By: Bloomberg     7th December 2016 Burkina Faso said Timis Mining shouldn’t go to court until it has exhausted local mediation over a dispute about one of the world’s largest manganese deposits that the company says stems from the government’s deliberate blocking of the project. “The problem can’t go to the courts before we’ve... 

Perseus settles Amara mining contractor dispute

By: Henry Lazenby     2nd December 2016 West African gold producer Perseus Mining has inked a settlement agreement with mining contractor BCM International and its subsidiaries over a dispute between BCM and various members of the Amara Mining group, which Perseus acquired earlier this year. The dispute with BCM related to outstanding... 

Avocet strikes a deal with SMB employees, Inata gold released

By: Megan van Wyngaardt     28th November 2016 LSE-listed Avocet Mining has reached a temporary agreement with former employees of Société des Mines de Bélahouro (SMB) regarding a recent gold seizure at the group’s Inata gold mine, in Burkina Faso. A gold shipment containing about 1 400 oz from mine, seized in October, was released on Monday... 

Nordgold reports robust Q3 performance

By: Anine Kilian     14th November 2016 Russian gold miner Nordgold reported an 11% quarter-on-quarter increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to $131.8-million in the third quarter ended September 30. Net profit was up 4% quarter-on-quarter, while all-in sustaining costs were $955/oz in the... 

Iamgold revenues rise on strong performance at key assets

By: Henry Lazenby     9th November 2016 The TSX-listed stock of Canadian miner Iamgold on Tuesday rose as much as 13% to C$6.02 apiece after the company late Monday reported strong third-quarter operating and financial performance metrics. Revenues from continuing operations for the quarter ended September rose 36% year-on-year to... 

Judge orders lifting of Avocet gold seizure

By: Anine Kilian     8th November 2016 LSE-listed Avocet Mining’s share price rose 28.7% on Tuesday morning, after it announced that a judge in Burkina Faso had ordered the lifting of the seizure of a gold shipment last month. The seizure of a 1 400 oz gold shipment was affected by bailiffs acting on behalf of former employees of... 

Teranga raises A$65m to advance Banfora

By: Esmarie Swanepoel     2nd November 2016 Dual-listed Teranga Gold has announced plans to raise A$65-million through an equity raising to develop the recently acquired Banfora gold project, in Burkina Faso. Teranga said on Wednesday that the company had entered into agreements to offer 62-million shares, at a price of A$1.05 each, for... 

Endeavour lifts Q3 profit as production grows

By: Henry Lazenby     1st November 2016 West Africa-focused Endeavour Gold has reported a quarterly increase of 19% in adjusted net earnings from continuing operations to $33-million, or $0.25 a share. This was above analyst expectations of $0.18 a share, off of revenue of $119-million. 

Avocet temporarily suspends Burkina Faso mine

By: Megan van Wyngaardt     27th October 2016 LSE-listed Avocet Mining’s share price fell by 38.5% on Thursday as it announced that it would temporarily suspend operations at its Inata mine, in Burkina Faso. This followed the seizure of a 1 400 oz gold shipment by bailiffs acting on behalf of former employees of Société des Mines de... 

Avocet dealt blow as 1 400 oz of gold is seized in labour row

By: Megan van Wyngaardt     24th October 2016 LSE-listed Avocet Mining’s shares fell by 24.5% from 83.12p a share at Friday’s close to 62.75p apiece on Monday morning, following the news that a gold shipment containing about 1 400 oz from the Inata gold mine, in Burkina Faso, had been seized. Bailiffs acting on behalf of former employees of... 

Plastics|SA joins DTI on trade mission to Ghana

     19th October 2016 Exciting export opportunities exist for the South African plastics industry as part of the plastics industry’s Export Development Programme. Plastics|SA was recently part of a delegation that joined the Department of Trade and Investment on a special trade mission to Accra, Ghana. The delegation... 

BioTherm Energy secures 20 MW solar project in Ghana

By: Anine Kilian     23rd September 2016 Independent power producer BioTherm Energy has won the tender to develop a 20 MW solar project in Ghana. The company will build, own and operate the facility under a 20-year power purchase agreement. 

On-The-Air (23/09/2016) 

By: Martin Creamer     22nd September 2016 South Africa has plummeted to an abysmally low level in the World Bank’s 160-country cost-of-doing-business rankings. Fundamental calculations of risk are putting South Africa behind countries like the DRC as an investment destination. Developing mine heritage sites has payoff... 

Production starts at Nordgold’s Bouly operation

By: Megan van Wyngaardt     19th September 2016 Gold production has started at Nordgold’s Bouly operation, an expansion of the company’s flagship Bissa mine, in Burkina Faso. The greenfield deposit is expected to produce 120 000 oz/y over a ten-year mine life, with an all-in sustaining cost of $730/oz. 

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Industry leaders attending the DMCC Precious Metals Forum in Accra, call on airlines and associations to ban the hand-carriage of gold

     13th September 2016 Over 130 industry delegates descended on Ghana’s capital Accra on 7 September, to attend DMCC’s second Africa Dubai Precious Metals Forum held at the Kempinski Hotel.   Government ministers, regulators, mining industry professionals, security experts, airlines, logistics facilitators and... 

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