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Toro Gold hires bank to explore sale as IPO plans shelved – sources

By: Reuters     7th June 2019 West Africa-focused junior gold miner Toro Gold has hired boutique investment bank Raymond James to explore putting itself up for sale after shelving plans to list its shares in London, two sources with knowledge of the matter said. But attracting buyers won't be easy for the company that has... 

Guinea iron-ore prospectors set sights on ArcelorMittal rail

By: Reuters     6th June 2019 The race to mine Guinea's iron-ore has started although the focus is not on its giant Simandou deposits but on smaller finds whose output could be transported via Liberia if ArcelorMittal shares its railway, banking and industry sources said. Guinea's aspirations to develop Simandou, the world's... 

Steinmetz's BSGR bankruptcy fends off Vale's $2bn award

By: Bloomberg     5th June 2019 Billionaire Beny Steinmetz’s mining company sought bankruptcy protection in the US, two months after losing a $2-billion arbitration award to Brazilian mining giant Vale SA. The court filing by BSG Resources on Monday could stymie Vale’s effort to enforce the award, which stems from an ill-fated... 

Ghana seeks investors to mine bauxite to fund infrastructure

By: Bloomberg     23rd May 2019 Ghana is inviting investors to submit plans on how to tap the nation’s bauxite deposits as the government seeks to leverage more of its mineral resources to fund infrastructure. The government will receive proposals from interested parties until the end of the year on how to expand production and... 

YES helps position S Africa as credible springboard into continent again 

By: Marleny Arnoldi     17th May 2019 Foreign direct investment is critical to the development of the South African economy and some innovative thinking by the Department of Trade and Industry has turned recently gazetted amendments regarding the Youth Employment Service into an additional arrow in the DTI’s quiver on a recent... 

Billionaire Friedland close to deal with BHP on Guinea iron-ore

By: Bloomberg     17th May 2019 Billionaire mining investor Robert Friedland is close to a deal to take over an iron-ore deposit in Guinea from owners including BHP Group, according to people familiar with the situation. Friedland is in advanced talks with BHP, Newmont Goldcorp and Areva, that will see him move to develop the... 

South African company secures Potain distributorship

By: Nadine James     10th May 2019 Having secured Southern African distributorship for French tower- and self-erecting crane producers Potain, service provider Crane & Hoist Equipment SA expects to continue its sustainable growth path over the next five years, says sales director Louw Smit. The distributorship, effective as of... 

AngloGold embarking on process to dispose of South African assets  

By: Martin Creamer     9th May 2019 Iconic South African gold-mining company AngloGold Ashanti said on Thursday that it was embarking on a process to review divestment options for its remaining South African assets. The company, headed by CEO Kelvin Dushnisky, said the process would consider all ownership options, with a view to... 

Australia, Guinea, Indonesia to lead bauxite mining up to 2029

By: Marleny Arnoldi     7th May 2019 Following a decline in global bauxite production in 2018, consultancy company Fitch Solutions says global bauxite production this year is being driven by new projects coming on line in Guinea and Australia, as well as a ramp-up in production in India and Indonesia. Australia holds 12 of the 29... 

Nordgold increases Lefa mine investment

By: Simone Liedtke     29th April 2019 Diversified gold producer Nordgold has completed a significant investment programme at its Guinea-based Lefa mine. Capital expenditure in 2018, which was designed to both improve efficiencies at Lefa, while also extending its life-of-mine, increased to more than $70-million, from $48-million in... 

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