Archive | Africa Mining

Endeavour Mining eyes London listing in potential blow to Toronto Stock Exchange – by Neil Hume (Financial Post/Financial Times – August 11, 2020)

https://financialpost.com/

Endeavour Mining Corp., the biggest gold producer in west Africa, is debating whether to shift its primary share listing to the U.K. as it seeks to tap a new pool of investors.

Chief executive Sébastien de Montessus said the US$4.5 billion Toronto-listed company was assessing whether to move to London or New York in the wake of its merger with rival Semafo Inc.

“We are going to move to one or the other. We are currently assessing which is the most relevant and attractive given our portfolio and locations and also the fit in terms of governance and liquidity,” said de Montessus in an interview with the Financial Times. “Given that management is based in London, a listing in the U.K. is an option on the table.” Continue Reading →

NUCLEAR: The forgotten mine that built the atomic bomb – by Frank Swain (BBC.com – August 3, 2020)

https://www.bbc.com/

The Congo’s role in creating the bombs dropped on Hiroshima and Nagasaki was kept secret for decades, but the legacy of its involvement is still being felt today.

“The word Shinkolobwe fills me with grief and sorrow,” says Susan Williams, a historian at the UK Institute of Commonwealth Studies. “It’s not a happy word, it’s one I associate with terrible grief and suffering.”

Few people know what, or even where, Shinkolobwe is. But this small mine in the southern province of Katanga, in the Democratic Republic of the Congo (DRC), played a part in one of the most violent and devastating events in history. Continue Reading →

South Africa’s platinum miners, reeling from years of curtailed investments, take blow from coronavirus pandemic (South China Morning Post/Bloomberg – August 9, 2020)

https://www.scmp.com/

South Africa’s gold industry has been dying slowly for years. As the coronavirus undercuts the already fragile case for investment, its platinum mines may be next.

Beset by power and water shortages, alongside whipsawing government policies, South African producers have cut spending over the past decade on mines responsible for 75 per cent of global platinum supply.

The virus is accelerating that trend, damping demand for the catalytic converters that are the largest users of the metal, while stimulus packages push carmakers to speed a shift to electric vehicles. Continue Reading →

Rössing Uranium: helping power Namibia’s future – by Dan Brightmore (Mining Global – July 30, 2020)

https://www.miningglobal.com/

Uranium was first discovered in the Namib Desert in 1928, but it was only following intensive exploration in the late 1950s that the mining industry’s interest was piqued. Rio Tinto originally secured the rights to the low-grade Rössing deposit in 1966.

A decade later in 1976, Rössing Uranium, Namibia’s first commercial uranium mine, started production. Today, Namibia has two significant uranium mines (Rössing Uranium and Swakop Uranium) which together provide 11% of the world’s uranium oxide output in 2019; in 2019 Rössing Uranium produced 3.9% of that total.

The mine has a capacity of 4,500 tonnes of uranium oxide per year and, by the end of 2019, had supplied a total of 137,537 tonnes of uranium oxide to the world. Continue Reading →

World’s No. 3 Gold Miner Asked CEO to Leave After Fund Pressure – by Felix Njini, Loni Prinsloo and Thomas Biesheuvel (Bloomberg News – July 31 2020)

https://www.bloombergquint.com/

(Bloomberg) — AngloGold Ashanti Ltd.’s chief executive officer was pushed to leave after shareholders asked for further investigations into a bonus payment by his former employer that he didn’t initially disclose, according to people familiar with the matter.

The mining company announced on Thursday that Kelvin Dushnisky would step down after only two years.

That followed a demand from a major shareholder, South Africa’s Public Investment Corp., for an independent probe into a payment of $926,000 from Barrick Gold Corp., according to the people, who asked not to be identified as the details aren’t public. Continue Reading →

Kelvin Dushnisky resigns from AngloGold, Ramon appointed interim CEO – by David McKay (MiningMX.com – July 30, 2020)

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KELVIN Dushnisky, CEO of AngloGold Ashanti, has resigned from the South African gold producer in a shock development barely two years into the job.

No reason was given for his departure. Christine Ramon, CFO of AngloGold, has been appointed interim CEO from September, the month Dushnisky’s resignation is effective.

AngloGold said Dushnisky would remain in Toronto “… to spend time with his family”, but would be available to assist the group with a smooth handover until February 28. Continue Reading →

Rio Tinto Gets Closer to Building Game-Changer African Iron Mine – by David Stringer and Thomas Biesheuvel (Bloomberg News – July 29, 2020)

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

Rio Tinto Group is accelerating work toward potential development of the giant Simandou iron ore project in Guinea, as half-year earnings showed the steel-making ingredient dominated the second-biggest miner’s profits.

There’s been a longstanding question mark over Rio’s stake in the massive African deposit. For years, a cast of owners including Israeli billionaire Beny Steinmetz and authorities in the West African nation fought over rights to develop Simandou.

Even with those disputes now settled, Rio must decide whether it’s prepared to spend the large amounts needed to extract and transport the super-rich ore from its part of the project. Continue Reading →

NEWS RELEASE: B2Gold Announces the Launch of its Namibian Rhino Gold Bar Campaign in North America to Support the Conservation and Protection of the Critically Endangered Black Rhinos (July 28, 2020)

VANCOUVER, BC, July 28, 2020 /CNW/ – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce the launch of its Namibian Rhino Gold Bar campaign in North America to help support the conservation and protection of the critically endangered black rhinos, and the community-based rhino rangers and trackers who protect the rhinos, in Namibia, Southern Africa. This announcement coincides with the International Ranger Federation’s (“IRF”) World Ranger Day, which takes place annually on July 31.

World Ranger Day was established on the 15th anniversary of the founding of the IRF and has been observed globally since 2007. The day, which is promoted through the IRF’s Thin Green Line Foundation and sanctioned and supported by global members of the International Union for Conservation of Nature, recognizes and celebrates rangers who are at the forefront of conservation efforts around the world by protecting natural and cultural resources. It also commemorates rangers that are injured or killed in the line of duty.

Due to poaching, driven by the illegal rhino horn trade, over 1,000 wild rhinos are killed for their horns in Africa each year. Continue Reading →

Ivanhoe keeps Kakula copper project ahead of schedule – by Cecilia Jamasmie (Mining.com – July 6, 2020)

https://www.mining.com/

Canada’s Ivanhoe Mines (TSX:IVN) said on Monday that progress at its Kakula copper project, the first of multiple planned mining areas at Kamoa-Kakula in the Democratic Republic of the Congo (DRC) continues ahead of schedule.

The company, together with its joint venture (JV) partner China’s Zijin Mining Group, has now completed more than 17 km of underground development, of which 5.1 kms is ahead of schedule.

Ivanhoe also said that Kakula’s 2,000-tonne-per-hour ore conveyor system began operations in June, which will further increase the mine’s pace of underground development. Continue Reading →

Sanctioned Billionaire Finds a Haven in Tiny Congolese Bank – by Franz Wild, Michael Kavanagh and William Clowes (Bloomberg News – July 2, 2020)

https://au.finance.yahoo.com/

(Bloomberg) — A year ago in June, a group of bankers marched into a U.S. Treasury office in Washington on perhaps the most important mission of their careers: to save a country from financial collapse.

Among them was Willy Mulamba, Citigroup Inc.’s top executive in the Democratic Republic of Congo, a resource-rich but devastatingly poor nation in central Africa.

Mulamba, a 51-year-old Congolese banker who had returned home after years abroad, was part of a small team desperate to dissuade Treasury officials from cutting the nation off from the U.S. banking system, even though corruption scandals swirling around recently departed President Joseph Kabila had infected several local banks. Continue Reading →

Chile’s lithium miners consume 65% of region’s water – by Micheal McCrae (Kitco.com – June 24, 2020)

https://www.kitco.com/

The social license for battery material producers is challenged by water depletion, toxic dust and worker exploitation, according to a report released Wednesday by the United Nations Conference on Trade and Development.

Miners in the Democractic Republic of Congo face challenges operating in a country with few worker protections.

“[About] 20% of cobalt supplied from the DRC comes from artisanal mines where child labour and human rights abuses have been reported. Up to 40,000 children work in extremely dangerous conditions in the mines for meagre income,” write the report’s authors. Continue Reading →

Tanzanite: Tanzanian miner becomes overnight millionaire (BBC.com – June 24, 2020)

https://www.bbc.com/

A small-scale miner in Tanzania has become an overnight millionaire after selling two rough Tanzanite stones – the biggest ever find in the country.

Saniniu Laizer earned £2.4m ($3.4m) from the country’s mining ministry for the gemstones, which had a combined weight of 15kg (33 lb). “There will be a big party tomorrow,” Mr Laizer, a father of more than 30 children, told the BBC.

Tanzanite is only found in northern Tanzania and is used to make ornaments. It is one of the rarest gemstones on Earth, and one local geologist estimates its supply may be entirely depleted within the next 20 years. Continue Reading →

Congo officials vow to tackle child labour at mines as virus threatens spike – by Malaicka Adihe (Reuters U.K. – June 23, 2020)

https://uk.reuters.com/

KINSHASA, June 23 (Thomson Reuters Foundation) – Authorities in Democratic Republic of Congo’s southeastern mining heartland are boosting efforts to tackle child labour amid concerns that the coronavirus pandemic could drive more families to put their children to work in mines, officials said.

Congo is Africa’s main producer of copper and the top global source of cobalt, accounting for two-thirds of global supplies of the metal used in smartphones and electric car batteries.

Mining accounts for 32% of Congo’s national output and the economy has been hard hit by the pandemic, which has slowed demand for metals and other raw materials. Continue Reading →

Eira Thomas Confident Lucara Can Navigate Crisis – by Avi Krawitz (Rapaport Diamond Podcast – June 22, 2020)

https://www.diamonds.net/

RAPAPORT… The diamond mining sector has been hard hit by the coronavirus crisis. There has been a significant drop in demand — when rough sales could even take place — forcing miners to reconsider their production programs for 2020.

However, Lucara Diamond Corp. appears cautiously confident that it has the balance sheet, the sales platform, and the right product mix at its high-value Karowe mine in Botswana, to manage through the crisis.

In a June 16 interview as part of Rapaport’s ‘Recovery Webinar Series’, CEO Eira Thomas outlined her assessment of the diamond market and the company’s plans. Continue Reading →

Column: Tesla’s reluctant commitment to cobalt a warning to others – by Andy Home (Reuters U.S. – June 23, 2020)

https://www.reuters.com/

LONDON (Reuters) – The unpredictable Elon Musk strikes again. Just when his electric vehicle (EV) company Tesla seemed to be pivoting away from using cobalt in its batteries, it signs a long-term supply deal for the controversial metal with Glencore.

This from the man who has vowed to eliminate cobalt from the Tesla product mix because of its financial cost and the reputational cost of a metal associated with child labour and poor safety conditions at artisanal mining operations in the Democratic Republic of Congo, the world’s dominant producer.

Tesla’s not the first auto company to lock in future cobalt supplies with a miner. BMW did the same last year, also with Glencore as well as with the Bou-Azzer mine in Morocco. Continue Reading →