R/€ = 13.69 Change: 0.00
R/$ = 12.95 Change: -0.02
Au 1257.07 $/oz Change: 0.37
Pt 1028.00 $/oz Change: 0.80


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... 

Nexus progresses work programmes at Bouboulou project

By: Megan van Wyngaardt     9th September 2016 TSX-listed Nexus Gold on Friday reported that its second- and third-stage work programmes for the Bouboulou concession, in Burkina Faso, aimed at defining a resource and publishing an estimate, are expected to start in early 2017. The Bouboulou exploration permit, which covers 38.8 km2, is... 

Big bet on agriculture pays off for African nations

By: African News Agency      6th September 2016 A decade of paying intense attention to farming has generated “the most successful development effort” in African history, according to a report released by the Alliance for a Green Revolution in Africa (AGRA) at the UN’s African headquarters on Tuesday. Analysis of AGRA’s 2016 African... 

Africa’s fastest-growing gold producer says more to come

By: Bloomberg     31st August 2016 Burkina Faso said it has more gold waiting to be discovered as the nation where output jumped more than 20 times in a decade reviews its geological records. The government wants to help companies that are already operating in the West African nation to lengthen the lives of their mines and make... 

Nordgold reports y/y profit loss, lowers production guidance

By: Anine Kilian     30th August 2016 Diversified low-cost gold producer Nordgold’s net profit for the six months ended June 30 was down 30% year-on-year to $94.1-million, compared with the corresponding period in 2015, while half-year revenue decreased by 19% to $520.4-million for the year ended June 30. This could be attributed to... 

Avocet sees H1 production, earnings rise despite challenging market

By: Megan van Wyngaardt     26th August 2016 Despite a tough operating environment, Aim-listed Avocet has achieved a positive performance in the six months to June 30, producing 41 614 oz of gold at a cash cost of $913/oz. This was a slight improvement on the 39 859 oz produced at a cash cost of $1 021/oz in the six months to June 30, 2015. 

West African Resources repays $5m loan

By: Creamer Media Reporter      26th August 2016 ASX-listed West African Resources said on Friday it had repaid a $5-million loan to Macquarie Bank ahead of its maturity date on September 30. The repayment was made following the completion of a A$21-million capital raising, announced earlier this month. 

DRA enjoying rise in gold project share, eyeing more gold opportunities 

By: Martin Creamer     17th August 2016 Mining project house DRA, which has hit the gold project high spots in particularly West Africa, is now well poised to extend that gold triumph further into Central Africa, East Africa and also South Africa. DRA’s impressive penetration of the gold project market has been characterised by... 

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