Archive | Africa Mining

Steinmetz loses latest battle against Vale over Simandou – by Cecilia Jamasmie (Mining.com – April 5, 2021)

https://www.mining.com/

Billionaire Beny Steinmetz, the founder and owner of a company embroiled in a long-drawn-out dispute with Vale (NYSE: VALE) over lost rights to the Simandou iron ore project in Guinea, has lost his latest battle against the Brazilian miner.

The Rio de Janeiro-based miner said on Monday that local prosecutors had closed an investigation into CEO Eduardo Bartolomeo, and other executives and former directors over alleged illegal practices related to the deal to explore the deposit.

At two billion tonnes of iron ore with some of the highest grades in the industry, Simandou is one of the world’s biggest and richest reserves of the steelmaking material. Continue Reading →

World’s No. 3 Gold Miner Sounds Cautious Note on Deals – by Feliz Njini (Yahoo Finance/Bloomberg – April 1, 2021)

https://ca.finance.yahoo.com/

(Bloomberg) — AngloGold Ashanti Ltd.’s acting Chief Executive Officer Christine Ramon said the world’s No. 3 gold miner won’t be rushed into deals as the industry braces for another round of mergers and acquisitions.

AngloGold won’t focus on scale for “the sake of it,” Ramon said during a panel discussion alongside the CEOs of Barrick Gold Corp. and Sibanye Stillwater Ltd., both proponents of consolidation.

Barrick and Newmont Corp. led a wave of mega deals two years ago and there are expectations that miners, flush with cash, will again look to expand through acquisitions. Continue Reading →

Exploration boom in West Africa challenged by lack of services — report – by Cecilia Jamasmie (Mining.com – March 23, 2021)

https://www.mining.com/

The West African mining industry has seen significant fundraising activity since October last year, driven by higher metal prices and the need to meet a growing global demand for metals needed for electric vehicles and renewable energy.

For Capital (LON: CAPD), a mining service provider that has spent the last two years expanding into West Africa, lack of exploration spend, flat drilling activity and record levels of financing have created a prime scenario for companies to expand in the area.

The world’s second biggest gold-producing market zone, after China, is attracting a growing number of players, such as Barrick, IAMGOLD and Endeavour Mining, which recently acquired Teranga Gold. Continue Reading →

Canadian firm plans to start building Niger uranium mine in early 2022 – by Mariaan Webb (MiningWeekly.com – March 18, 2021)

https://www.miningweekly.com/

A pilot plant programme at the Dasa uranium project, in Niger, has delivered better-than-expected metallurgical results and with the required operating permits in hand, Global Atomic CEO Stephen Roman says the company is confident it could start building the Dasa mine early next year.

Confirmation of the metallurgical process to recover uranium was a key milestone for the project, keeping the feasibility study on track for completion in the third quarter.

Roman states that TSX-listed Global Atomic will start tendering for mill components to finalise costs. Continue Reading →

No-fly zone in Zamfara: The intrigues and intricacies – by Etim Etim (Guardian Nigeria – March 18, 2021)

https://guardian.ng/

One of the nation’s biggest crime thrillers is unfolding in the Northwestern state of Zamfara, but nobody seems to be paying attention. The plot is not only dangerous, but it is at the root of the banditry and sacking of villages in that part of the country.

The cast includes the National Security Adviser (NSA), Maj Gen Babagana Mungonu (rtd); the state governor, Mr Bello Muhammed (Matawalle Maradun), and the House of Assembly.

Behind the scenes and pulling the strings are some illegal gold miners from China, who can easily pass for the executive producers of the plot. Like all such high-stakes, the hapless citizens, in this case, the poor people of Zamfara are paying dearly. Continue Reading →

Niger uranium mine closure: hundreds of jobs cut, concerns for environment (RFI – March 15, 2021)

https://www.rfi.fr/en/

A uranium mine in the northern Niger town of Arlit is scheduled to shut down on 31 March, cutting 600 jobs, after its resources were depleted, leaving mine workers without jobs and a very small payout package, according to an official of the National Union of Mines.

“We have a lot of our workers who are young– as long as there is no economic recovery in the country, that means that many of these young people will find themselves unemployed,” Niou Amadou, general secretary of the National Union of Mines, told RFI’s Gaelle Laleix.

They have been working at the Akouta mine for Cominak, a Nigerien subsidiary of the French group Orano, formerly Areva, which has been mining uranium in the mine for 43 years. Continue Reading →

Local battery material champions planning first-mover advances into new geographies – by Martin Creamer (MiningWeekly.com – March 15, 2021)

https://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – South Africa’s team of local battery material champions are planning first-mover advances into new geographies.

Mining Weekly can today report that Thakadu Battery Materials, which is producing high-purity battery-grade nickel sulphate for export, has a pipeline of new projects in place that will involve the use of the locally developed intellectual property, proven process technology and first-mover advantage to fast-track other assets under development in Southern Africa and North America.

In what is a huge story of world-class local innovation, Thakadu, operating as a completely independent startup, has succeeded in turning platinum group metal- (PGM-) linked nickel solution into sought-after battery material that is helping to make the world a greener place. Continue Reading →

African countries are helping China go green. That may have a downside for Africans. (Washington Post – March 12, 2021)

https://www.washingtonpost.com/

The details of China’s new 5-year plan, released earlier this month, suggest China has put off the difficult steps necessary to become carbon neutral by 2060.

President Xi Jinping had announced that goal last fall, reflecting the Chinese Communist Party’s pursuit of “Ecological Civilization,” a vision of environmental sustainability both within and beyond China’s borders.

Achieving Ecological Civilization won’t be easy. China accounts for 28 percent of global carbon emissions. How will Beijing pursue this goal — and at what cost? Continue Reading →

NGOs lambast LBMA’s gold sourcing program – by Cecilia Jamasmie (Mining.com – March 9, 2021)

https://www.mining.com/

Advocacy group Global Witness along with four other advocacy groups said on Tuesday that the London Bullion Market Association’s (LBMA) responsible sourcing program has failed to ensure that only responsibly-sourced gold, conflict-free and untainted by human rights abuses is traded worldwide.

The five organizations also called on the European Union (EU) not to endorse the LBMA, the world’s most influential gold market authority, which would make imports into country members troublesome.

“We had hoped that September’s release of the LBMA’s first annual Responsible Sourcing Report 2020 would address these concerns. We welcome the report, which provides more detail than previous publications,” they organization wrote in an open letter to the LBMA. Continue Reading →

Endeavour Mining pivots to exploration to alter image after deal spree – by Helen Reid and Jeff Lewis (Globe and Mail – March 2, 2021)

https://www.theglobeandmail.com/

Canadian gold firm Endeavour Mining, which is preparing for a London listing late next quarter, is switching its focus to integrating new mines after a $2.7-billion acquisition spree in West Africa last year spooked some investors.

The group, whose share price has underperformed a wider index of gold mining stocks to slide nearly 30 per cent since mid-2020, is hitting the brakes on new purchases after buying mining firms Semafo Inc. and Teranga Gold Corp. in the past year.

Chief executive Sébastien de Montessus said his priority now is to show shareholders he is committed to organic growth in six core gold mines across Ivory Coast, Senegal and Burkina Faso. Continue Reading →

GOLD MINES: Canadian miners dig deeper in West Africa – by Christophe Le Bec, Honoré Banda and Amadou Oury Diallo (The Africa Report – February 25, 2021)

https://www.theafricareport.com/

In the underexplored and booming gold-mining areas of West Africa, Canadian miners are moving fast to expand their operations.

Mining firms large and small are exporting the expertise gained in their home market to Francophone West African countries where governments are keen to boost their revenue. Canada is home to gold giants like Barrick Gold, as well as minnows that are far from being household names.

“West Africa has more potential than any other region in the world. Its geology is similar to that of northern Ontario, Quebec or Western Australia – exceptionally prolific belts,” says Richard Young, head of the Canadian mining group Teranga Gold Corporation, which is active in Senegal and Burkina Faso. Continue Reading →

A Dollar A Day: The Human Cost Of Abused Miners (Tennessee Tribune – February 25, 2021)

Tennessee News Paper, Latest Local News Tennessee Tribune

NYABIBWE, Congo — Justine Kamakura, gets up at 5 a.m. and walks about 10 miles from her village to work in a cassiterite mine in Nyabibwe in the Democratic Republic of the Congo’s South Kivu province.

Though the 40-year-old mother of six has been working in these mines for 11 years, she can still only afford to send one of her children to school.

Cassiterite, from which tin is extracted, is one of the four conflict minerals mined in eastern Congo. It is used around the world by tech giants and other major corporations in the manufacture of phones, medical imagery devices and televisions. Continue Reading →

Africa’s edge in the green mineral economy – by Gregory Mthembu-Salter (The Africa Report – February 18, 2021)

https://www.theafricareport.com/

The continent’s rich resources, including cobalt and lithium, mean African miners will be key players as the world switches to electric vehicles and wind and solar power. For the moment, though, platinum and palladium for fuel-injection vehicles are very much in demand.

Loose talk from mining companies about “sustainability” irritates their critics, who point out that it cannot be sustainable to extract minerals such as copper or cobalt that are non-renewable resources.

Mining companies may, however, be on surer ground when they stress their contribution to the ‘green economy’. Continue Reading →

We need raw material diplomacy, not conflict – by Günther Maihold (IPS Journal – February 18, 2021)

https://www.ips-journal.eu/

Trade in valuable minerals often fuels violent conflicts. The EU’s new approach to raw material diplomacy could change that

While blood diamonds are certainly the most well-known ‘conflict raw material’, they are by no means the only one. The proceeds from their sale have, for example, been used to finance and prolong violent conflicts in Africa.

But if the European Commission should get its way, the banning of such raw materials would be expanded to strategic ones – through a new EU regulation on conflict minerals.

Raw materials are an indispensable part of modern economies and geopolitical competition. Naturally, that leaves them in high demand. However, mining and exploiting them is often linked to high social and environmental costs in many countries of the Global South. Continue Reading →

Egypt extends deadline for gold mining bid round – by Cecilia Jamasmie (Mining.com – February 17, 2021)

https://www.mining.com/

Egypt has extended by 60 days the deadline to participate in the latest international tender for exploration licenses as the North African country struggles with a second wave of the coronavirus pandemic, with new daily cases on the rise after experiencing a sharp decline in January.

Investors now have until May 15 to bid on blocks that will be awarded to the winning companies by September 15 at the latest.

The Egyptian mineral resources authority (EMRA) said the extension seeks to attract new companies and give potential investors more time to come forward. Continue Reading →