Posts Tagged ‘africa’

Shares in Nevun Resources Ltd. fell off the cliff this morning after the company issued a press release saying its 2012 production estimate from its Bisha copper-gold mine in Eritrea is half of what the mine produced in 2011. Full story

According to South Africa’s National Planning Minister, Trevor Manuel, the country will not be hitting mining companies with any surprise new taxes. While Manuel hesitated to leave his statements at that, he did hint that there may be adjustments  to existing codes on the industry, and reiterated he importance of sensible taxation to extract rent from the industry and direct that investment back into ... Full story

South Africa’s ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering other plans to increase state involvement in the sector, particularly with regard to platinum. According to the New Age paper the ANC report stressed that nationalization would be unaffordable, as the government would need to raise R1 trillion ... Full story

Interfax-China reported that China's gold bullion output grew by 5.89% in 2011 to reach a record high of 360.96 tonnes up by 20.08 tonnes from the previous year making the country the world's largest producer for the fifth year running. The China Gold... Full story

The stresses that have afflicted South Africa's platinum miners for the best part of a year appear to be coming to a head. Full story

Cluff Gold (TSX:CFG) (AIM:CLF), a gold miner focused mainly in West Africa, announced on Friday that it will buy Orezone Gold’s Sega gold project mining licences and property in Burkina Faso for 11-million shares and $15-million in cash. Located about 20 km by road from Cluff Gold’s Kalsaka project, the Sega project includes an indicated gold resource of 450,366 ounces and 8.3-million tons of ... Full story

JERSEY, CHANNEL ISLANDS–(Marketwire – Feb 2, 2012) - Full story

Originally the Bogoso/Prestea oxide plant in Ghana operated from 1990 to 2008, until it was sidelined due to a lack of an adequate oxide ore supply required to keep the plant afloat. After three years of being put on care and maintenance, Golden Star Resources (TSX: GSC ) (AMEX: GSS ) announced the re-commissioning of the oxide plant at Bogoso/Prestea, a move that’s expected ... Full story

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. Full story

JOHANNESBURG, Jan. 30, 2012 /CNW/ – Witwatersrand Consolidated Gold Resources Limited (‘Wits Gold’) and Pan African Resources plc (‘Pan African’), collectively the ‘Consortium’ announced today that they have entered into an agreement with Harmony Gold Mining Company Limited (‘Harmony’) to acquire 100% of Harmony’s interest in Evander Gold Mines Limited (‘Evander’), in a 50/50 joint venture, for a total Transaction consideration of ZAR1.7 billion (C$210 million  1 ) less ... Full story