R/€ = 14.34 Change: 0.00
R/$ = 11.68 Change: 0.00
Au 1323.70 $/oz Change: -4.69
Pt 988.50 $/oz Change: -8.01


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... 

Avesoro reports strong production results

By: Anine Kilian     10th January 2018 Dual-listed West African gold producer Avesoro Resources has reported total yearly gold production for 2017 of 192 072 oz, well ahead of its production guidance of 70 000 oz to 80 000 oz. The company’s New Liberty gold mine in Liberia produced 25 563 oz of gold in the fourth quarter, a 29%... 

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

By: Megan van Wyngaardt     10th January 2018 ASX-listed Pegasus Metals on Wednesday announced that it would buy Scorpion Minerals, which holds the rights to acquire up to a 70% joint venture (JV) interest in the Dablo palladium/platinum/gold/nickel/copper exploration project, located in Burkina Faso for A$360 000. This will be paid through... 

Will intra-Africa trade come of age in 2018?

By: African News Agency      3rd January 2018 Overcoming the barriers for intra-African trade to double in a decade can feel like a Sisyphean task – impossible to complete. But that is the objective of the Boosting Intra-African Trade (BIAT) action plan, which targets to double flows between January 2012 and January 2022. Many individual... 

Roxgold bags permitting approval Bagassi South

By: Henry Lazenby     3rd January 2018 TSX-listed Roxgold has received the green light to construct the Bagassi South project, in Burkina Faso. The project is located on the Yaramoko concession, in the Houndé greenstone region of the country, and is set to add 40 000 oz/y to the company’s production profile over a 4.2-year mine life. 

Panthera starts trading on Aim market

By: Megan van Wyngaardt     21st December 2017 Gold exploration and development company Panthera Resources, with key assets in India and West Africa, started trading ordinary shares on the LSE’s Aim market on Thursday. On admission, the company had 61.8-million at a listing price of 20p apiece, giving Panthera an estimated market... 

Acacia to sell Burkina Faso asset for $45m to Canada's Sandstorm Gold

By: Reuters     19th December 2017 Acacia Mining said on Tuesday it would sell its 2% royalty over the Houndé mine in Burkina Faso for $45-million to Sandstorm Gold. The deal is expected to close early in the first quarter of 2018. 

Avesoro Resources completes acquisition of West African gold mines

By: Megan van Wyngaardt     19th December 2017 Dual-listed West African gold producer Avesoro Resources has completed its acquisition of the Youga gold mine and Balogo gold mine from Avesoro Jersey, while a concurrent placing of new common shares raised £15.2-million This completion represents a transformational acquisition for the Company... 

Gold miner Avocet to sell Burkina Faso assets

By: Reuters     18th December 2017 Struggling miner Avocet Mining Plc said it would sell its assets in Burkina Faso for $5 million to Ghana-based Balaji Group, staving off potential a bankruptcy for its units in the West African country. The sale, which includes the Inata gold mine and the Souma exploration project, is part of a... 

Engine-solar photovoltaic hybrid power plant project, Burkina Faso

By: Sheila Barradas     1st December 2017 The Banque Internationale pour le Commerce and l’Industrie et l’Artisanat du Burkina have said they will provide financing for Eren Renewable Energy for the project. 

Semafo chairperson passes

By: Henry Lazenby     24th November 2017 West Africa-focused gold miner and regional explorer Semafo announced the sudden passing of its chairperson Jean Lamarre on Wednesday, following a short illness. Lamarre joined the company’s board in 1997 and was appointed chairperson in 2000, a position he held until his demise. 

Maverix picks up royalty on Endeavour’s Karma mine

By: Henry Lazenby     24th November 2017 Royalty vehicle Maverix Metals will acquire an existing 2% net smelter return (NSR) royalty from a third-party seller, on Endeavour Mining’s 90% interest in the Karma gold mine, in Burkina Faso, for $20-million in cash. The mine and surrounding tenements were acquired by Endeavour from True Gold... 

Funding made available to advance Burkina Faso solar project

By: Megan van Wyngaardt     22nd November 2017 The Banque Internationale pour le Commerce, l’Industrie et l’Artisanat du Burkina (BICIAB), a BNP Paribas Group subsidiary, will provide $16.5-million in financing to Eren Renewable Energy for a 15 MW solar power plant that is under construction in Burkina Faso. The funding was granted to... 

Endeavour expands mineralised zones at key Burkina Faso mines

By: Henry Lazenby     14th November 2017 West Africa-focused gold producer Endeavour Mining has expanded the mineralised trends at both its Houndé and Karma gold mines, in Burkina Faso, the company announced on Monday. At its flagship Houndé operation, which declared commercial production ahead of schedule and below budget on November... 

Semafo’s profit wanes on lower output

By: Henry Lazenby     10th November 2017 West Africa-focused gold miner and regional explorer Semafo has reported a 44% drop in headline profit during the third quarter ended September, as the new mine plan for its Siou operation, in Burkina Faso, delivered fewer gold ounces to sell, the company reported on Thursday. Adjusted net income... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Bagassi South feasibility study adds 40% more gold ounces to Roxgold's Yaramoko project

By: Henry Lazenby     7th November 2017 A new feasibility study on Roxgold's Bagassi South project, which is located on the TSX-quoted company's Yaramoko concession, in the Houndé greenstone region of Burkina Faso, has outlined the potential to lift the Yaramoko project's expected gold output by 150 000 oz/y. The 40% increase in output... 

Endeavour starts commercial production at Houndé

By: Anine Kilian     31st October 2017 Endeavour Mining has completed the development of its Houndé project, in Burkina Faso, with commercial production declared more than two months ahead of schedule and $15-million below its initial capital budget. "We are extremely proud to declare commercial production ahead of schedule, below... 

Avesoro to acquire two gold mines in Burkina Faso

By: Anine Kilian     31st October 2017 Dual-listed Avesoro Resources, which owns the New Liberty gold mine, in Liberia, will acquire two gold mines in Burkina Faso. The transaction includes the acquisition of MNG Gold Burkina, Cayman Burkina Mines, MNG Gold Exploration, AAA Exploration Burkina and Jersey Netiana Mining and their... 

West African increases Sanbrado resource

By: Esmarie Swanepoel     30th October 2017 Gold developer West African Resources has reported a 105% increase in ounces at the M1 South deposit at its Sanbrado gold project, in Burkina Faso. West African on Monday reported that the M1 South deposit is now estimated to host 1.2-million tonnes of ore, grading 14.4 g/t gold for 556 000 oz... 

Predictive raises cash for African exploration

By: Esmarie Swanepoel     26th October 2017 ASX-listed Predictive Discovery has announced an 8-for-21 renounceable rights issue aimed at raising some A$2.6-million. The rights issue will be undertaken at a price of 4.2c a share, which represented a discount of 34% to Predictive’s 30-day volume weighted average share price. 

Trevali stock trades lower on production miss

By: Henry Lazenby     18th October 2017 The value of the recent acquisition of two African zinc assets from mining major Glencore is evident in zinc-focused miner Trevali Mining latest operating results, which it published on Monday, accounting for about 65% of output. However, the company’s TSX-listed equity on Tuesday fell as much as... 

Manufacturer strives to meet industry demands

By: Nica Schreuder     6th October 2017 With demand for pump efficiency prevalent in the past five to ten years, industrial equipment supplier Rand Transmission South Africa (SA) has changed and aligned its product range to meet market requirements and demands. Despite Rand Transmission South Africa’s products only accounting for... 

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