R/€ = 17.70Change: -0.14
R/$ = 15.82Change: -0.17
Au 1242.99 $/ozChange: -5.71
Pt 1009.00 $/ozChange: -2.00


Roxgold pours first metal at new Burkina Faso mine

By: Henry Lazenby     18th May 2016 TSX-V-listed Roxgold has poured first gold totalling 1 020 oz at the Yaramoko gold project, in Burkina Faso. The pour took place thirteen months from breaking ground and the Yaramoko mine was built on budget, ahead of schedule and was one of the highest-grade gold mines in the world, the company... 

Alecto raises capital to bring Zambia gold mine on stream

By: Anine Kilian     17th May 2016 Africa-focused gold and base metals exploration company Alecto Minerals has raised £665 000 through a share placement to provide the company with additional working capital to bring the 400 000 t/y openpit Matala gold project, in south-central Zambia, into low-cost production.  The company issued... 

End of commodities boom hits African countries

By: Keith Campbell     13th May 2016 The global commodities super cycle has come to an end, sharply lowering the price of oil, gas, metals and minerals,” stated the World Bank in its most recent ‘Regional Overview for Africa’ review (published in late March). “As a net commodities exporter, Africa is deeply affected by falling... 

BASF increases its footprint in Ivory Coast

     11th May 2016 BASF, the world's leading chemical company, establishes a legal entity in Ivory Coast to enable future growth opportunities. BASF is looking at Ivory Coast as the hub country for West Africa French Speaking countries and has expanded its capabilities considerably to continue innovating in this... 

Grindrod delivers 6 locomotives to Bolloré Logistics for Sitarail

By: Yolande Botes     6th May 2016 Pretoria-based Grindrod Locomotives has delivered six of the 16 locomotives ordered by Bolloré Logistics for their Sitarail operation in the Côte d'Ivoire and Burkina Faso, in West Africa. The locomotives which were ordered in June 2015 were shipped in April this year. The R400-million order... 

Alecto awarded extended exploration contract

By: Anine Kilian     5th May 2016 Africa-focused gold and base-metal exploration and development company Alecto Minerals has been awarded an additional three years for its Gassel-Manere and Arae mineral exploration permits, known as the Kerboulé project, in Burkina Faso.   The company said on Thursday that this was a crucial step... 

Endeavour back in the black as AISC drops and output rises

By: Henry Lazenby     3rd May 2016 Africa-focused Canadian gold producer Endeavour Mining has reported a $3-million, or $0.05 a share, headline profit for the three months ended March 31, as markedly lower all-in sustaining costs (AISC) and higher year-on-year sales boosted the miner's financial performance. The TSX-listed miner,... 

Vital launches scoping study in Burkina Faso

By: Esmarie Swanepoel     28th April 2016 ASX-listed junior Vital Metals has launched a scoping study at its Kollo gold deposit, in Burkina Faso, to evaluate the feasibility of an openpit project. MD Mark Strizek said on Thursday that the project provided a compelling near-term development and cash flow opportunity for Vital Metals. 

Endeavour, True Gold shareholders approve merger

By: Henry Lazenby     22nd April 2016 The shareholders of Canadian gold producers Endeavour Mining and True Gold have approved the proposed merger of the companies on Thursday, paving the way for the creation of a new West Africa-focused intermediate gold producer, with a portfolio of low-cost producing assets spread across Côte... 

Gryphon tips underground potential in Burkina Faso

By: Esmarie Swanepoel     18th April 2016 Gold hopeful Gryphon Minerals on Monday unveiled the potential for an underground operation at its Banfora project, in Burkina Faso. The company told shareholders that recent study work had demonstrated the potential for a future high-grade underground mining operation in addition to the... 

Sarama completes first phase of Burkina Faso exploration programme

By: Anine Kilian     13th April 2016 Africa-focused gold explorer Sarama Resources has completed the first phase of its $3.5-million 2016 exploration campaign on the 2.1-million-ounce South Houndé gold project, in Burkina Faso. The exploration programme included geochemical and geophysical surveys, as well as aircore, reverse... 

Endeavour’s Houndé project enters construction phase 

By: Henry Lazenby     11th April 2016 West Africa-focused gold miner Endeavour Gold’s 90%-owned Houndé project, in Burkina Faso, has entered the first phase of construction after the company’s board took a construction decision, the company announced on Monday. The Houndé project was expected to deliver average production of 190 000... 

True Gold announces first gold production at Karma

By: Anine Kilian     11th April 2016 TSX-listed True Gold has achieved first production at its Karma gold mine in Burkina Faso mine, the miner said on Monday. “We are delighted to pass this key milestone at the Karma mine and are now focused on the ramp-up period [aimed at] achieving commercial production,” said True Gold CEO... 

Taiwanese trade mission ends African tour in Joburg

By: Dylan Slater     8th April 2016 Nonprofit trade and investment promotion organisation the Taiwan External Trade Development Council (Taitra) hosted 25 Taiwanese enterprises in Johannesburg last month to assist in developing relations with local companies.  

Kenya’s bid to make mining a key economic pillar being stymied by bad policies

By: John Muchira     1st April 2016 Efforts by Kenya to transform the mining sector to a key economic pillar are being hampered by policies that make the country unattractive to foreign investors. According to a new report from Fraser Institute, of Canada, Kenya’s mining sector ranks among the bottom 10 in the world in terms of... 

Lower gold price impacts on Centamin earnings

By: Anine Kilian     22nd March 2016 Dual-listed gold miner Centamin’s earnings before interest, taxes, depreciation and amortization (Ebitda) dropped 8% to $152-million for the year ended December 31, 2015, owing to lower gold prices and changes in production inventories in. Cash costs decreased to $713/oz from $729/oz in 2014,... 

Denham to continue backing BioTherm

By: Natasha Odendaal     14th March 2016 South African independent power producer BioTherm Energy has secured financial backing for its next series of renewable energy projects under Round 4 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). Energy and resources-focused global private equity firm and... 

Denham Capital continues investment in BioTherm Energy for Round 4 and Expedited Window Projects

     14th March 2016 African Independent Power Producer, BioTherm Energy, has emerged as a dominant player following the South African Department of Energy’s last announcement of Preferred Bidders for Round 4 of its Renewable Energy Independent Power Producer Procurement Program. The company won preferred bidder... 

New platform targets small African renewables projects 

By: Natasha Odendaal     14th March 2016 A new platform to support small-scale and distributed renewable-energy projects within sub-Saharan Africa has been launched, with initial targets of getting 150 MW of new generation off the ground over the next five years. The Renewable Energy Performance Platform (REPP), developed by the... 

Gryphon exits Mauritania

By: Esmarie Swanepoel     14th March 2016 unior gold developer Gryphon Minerals will be exiting Mauritania after TSX-V-listed Algold Resources exercised an option over Gryphon’s interest in the Tijirit gold and Akjoujt copper/gold projects. Gryphon in October last year signed an option agreement with Algold Resources, which would... 

Takeover target True Gold starts leaching at Karma, with first gold mere weeks away

By: Henry Lazenby     8th March 2016 Canadian project developer True Gold has started irrigating ore on the heap leach pad at its Karma gold project, in Burkina Faso, and reported Tuesday that commissioning of the absorption, desorption and refining plant was well under way. Mining was ahead of schedule, with about 600 000 t of... 

Good karma comes to True Gold as Endeavour swoops in with C$191m acquisition offer

By: Henry Lazenby     4th March 2016 The TSX-V-listed stock of Canadian project developer True Gold on Friday spiked 30% to new one-year highs after fellow Canadian miner Endeavour Mining moved to acquire the company for its 90% interest in the Karma project, in Burkina Faso, in an all-scrip deal valued at about C$191-million. The... 

Nigerian mining earmarked for growth, but GDP contribution in last five years a measly 0.15%

By: Ilan Solomons     4th March 2016 Nigeria’s attempt to revitalise its solid minerals sector as part of a broad strategy to lessen its dependence on oil and gas is yet to produce substantial results, with the sector contributing less than 0.15% to the country’s gross domestic product (GDP) in the past five years. The mining of... 

Endeavour sells noncore Youga mine for $25.3m, replaces mined reserves

By: Henry Lazenby     29th February 2016 Africa-focused gold producer Endeavour Mining has sold its noncore Youga mine, located about 180 km southeast of Ouagadougou, the capital city of Burkina Faso, for $25.3-million to Turkish explorer and development firm MNG Gold. The total cash price comprised $20-million for the asset and... 

Taiwan businesses headed to S Africa to stimulate trade

By: Megan van Wyngaardt     19th February 2016 Nonprofit trade organisation Taiwan External Trade Development Council will lead a business delegation of 25 Taiwanese enterprises on a visit to South Africa on March 2, aimed at promoting possible business opportunities between the two countries. The Taiwanese delegation would host a trade... 

Acacia posts $197m FY net loss

By: Megan van Wyngaardt     15th February 2016 Tanzania-focused gold miner Acacia Mining has posted a $197-million net loss for 2015, on the back of a $189-million impairment charge over its Buzwagi mine. The impairment charge followed a review of the carrying value of the miner’s assets, in light of the lower gold price. 

Iamgold reports maiden resource at second West Africa greenfield discovery in 3 yrs

By: Henry Lazenby     10th February 2016 Canadian gold miner Iamgold has reported a National Instrument 43-101-compliant maiden resource for the Diakha deposit, located on the Siribaya joint-venture (JV) project, in western Mali, West Africa. The Siribaya exploration project is operated by Iamgold under a 50/50 JV with Merrex Gold. 

Sarama reports higher mineral resource at Burkina Faso project

By: Megan van Wyngaardt     9th February 2016 An independent mineral resource estimate has led to a 40% improvement in the inferred mineral resource at Sarama Resources' South Houndé project, in Burkina Faso, to 2.1-million ounces The oxide component of the inferred mineral resource increased 87% to 500 000 oz. 

Gold miner Acacia looking beyond Tanzania

By: Martin Creamer     8th February 2016 Gold mining company Acacia Mining is looking to go beyond Tanzania into Kenya and West Africa. Acacia CEO Brad Gordon told the 2016 Investing in African Mining Indaba that the company’s growth had stemmed from a focus on business fundamentals, people and relationships. 

Allianz ranks most valuable insurance brand globally

     2nd February 2016 • Allianz brand tops the Insurance Top 50 ranking for third year in a row • Allianz is the only insurer to rank amongst the world’s 50 strongest brands in 2016 • Brand value of Allianz at €18.6bn, up 8.1% from 2015 Allianz has consolidated its position as the most valuable insurance brand in this... 

Avocet FY gold output dips to 74 755 oz

By: Natalie Greve     27th January 2016 Gold production from unhedged gold mining and exploration company Avocet’s Inata gold mine, in Burkina Faso, has dipped year-on-year, narrowing from 86 037 oz in 2014 to 74 755 oz in 2015. Cash costs for the year under review averaged $1 058/oz – an improvement on the $1 186/oz in the prior year. 

Nordgold meets FY targets, on track to start another Burkina Faso mine this year

By: Megan van Wyngaardt     26th January 2016 LSE-listed Nordgold has met its full-year production guidance – delivering output of 950 000 oz for 2015 – and expects to increase output to 1.01-million ounces in 2016. This came om the back of a 21% quarter-on-quarter increase in production to 241 000 oz for the fourth quarter of the year.... 

Gold price likely to rise above $1 200/oz by year-end – GFMS

By: Megan van Wyngaardt     26th January 2016 The gold price is set for a gradual recovery this year, particularly in the second half, driven by improving fundamentals, Thomson Reuters GFMS said in its latest gold survey. The ‘Gold Survey 2015 Q4 Update & Outlook’ report, released on Tuesday, noted that the gold price would trade above $1... 

Customised On Site Training Increases Plant Efficiency

     25th January 2016 Training is important, particularly in remote areas. In another display of its customer-centric support focus, Multotec undertakes training of customer personnel in situ. According to Javier Kirigin, comminution product manager at Multotec Rubber, this type of practical training is invaluable and... 

True Gold inks $10m refinancing deal with precious metals merchant

By: Natalie Greve     12th January 2016 Toronto-listed gold producer True Gold has entered into an equipment refinancing facility with precious metal merchant Auramet International for $10-million, the company said on Monday. “This fixed cost equipment loan gives us flexibility to draw funds that can be used for non-project spending,... 

West African Resources advances Burkina Faso exploration

By: Megan van Wyngaardt     8th January 2016 Reverse circulation drilling at gold developer West African Resources’ Tanlouka project, in Burkina Faso, has delivered the potential to add ounces to its existing heap leach probable ore reserve of 440 000 oz of gold, the company said on Friday. MD Richard Hyde commented that the TAC1166 hole at... 

Pan African Minerals to seek compensation from Burkina Faso

By: Reuters     22nd December 2015 Pan African Minerals, a unit of Romanian-Australian resource tycoon Frank Timis's mining conglomerate, will seek compensation from Burkina Faso for losses incurred during a suspension of its Tambao manganese mine, a company executive said on Tuesday. The West African nation's transitional... 

Canadian miners recognised for sustainability policies

By: Henry Lazenby     16th December 2015 The Mining Association of Canada (MCA) has recognised eight mining facilities operated by Canadian miners Agnico Eagle Mines, First Quantum Minerals, Iamgold and Teck Resources, for their outstanding performance in the association’s Towards Sustainable Mining (TSM) initiative and their... 

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