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Landmark ruling for Southern African Gold Miners

Landmark ruling for Southern African Gold Miners
South African High Court on Friday approved a groundbreaking settlement on behalf of Southern African gold miners suffering from occupational lung disease.  The historic class action settlement, the first ever of its kind in South Africa, reflects more than a decade of preparation and...

Gold miner Barrick seeks to deepen presence in Côte d’Ivoire

Gold miner Barrick seeks to deepen presence in Côte d’Ivoire
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) is actively seeking to extend the life of its Tongon gold mine while at the same time exploring new opportunities elsewhere in Côte d’Ivoire, president and chief executive Mark Bristow said here today. Speaking at a briefing for local media...

UAE firm EGA gets funding for Guinea bauxite mining project

UAE firm EGA gets funding for Guinea bauxite mining project
Emirates Global Aluminium (EGA), has announced that its wholly-owned subsidiary Guinea Alumina Corporation (GAC) has successfully closed the Republic of Guinea’s largest-ever project financing for a greenfield mining project, in a step forward for EGA’s bauxite mining project and for Guinea’s economy. The $750 million...

Mining, construction sectors boost Tanzania’s GDP

Mining, natural gas and construction sectors boost Tanzania's GDP
Tanzania's GDP grew 6.8 per cent year-on-year in the third quarter of 2017 compared to 6.2 per cent in the same period the previous year mainly supported by mining and gas, and construction sectors. Data from the National Bureau of Statistics shows that Tanzania's construction...

Acacia Mining slapped with huge tax bill as shares tumble

Acacia Mining slapped with huge tax bill as shares tumble
Gold miner Acacia Mining says it has received a tax bill that is four times the GDP of Tanzania where it operates, affecting its performance in the stock market. Acacia Mining’s shares fell for a sixth straight session on Tuesday in the wake of a...

Zimbabwe mining industry at risk as power cuts begin

Mining industry at risk as Zimbabwe begins power cuts
Zimbabwe has started power cuts across the country that will last up to eight hours a move that is expected to negatively affect the mining industry which accounts for more than three-quarters of Zimbabwe’s export earnings. Zimbabwe Electricity Transmission and Distribution Company (ZETDC) said in a...

South Africa formalises artisanal mining to spur economic recovery

South Africa formalises artisanal mining to spur economic recovery
Artisanal mining is being formalised to create an avenue to mine sterilised deposits, energy and resource minister Gwede Mantashe has said. Speaking at the 2020 Junior Indaba for explorers, developers, and investors in junior mining, Mr Mantashe said that government will also focus on the...

Why Western Africa is the next Gold mining frontier

Western Africa is fast emerging as the continent’s top region for gold mining. The region is currently being seen as a more attractive prospect than Asia or South America to construct new mines due to the return on investment capital. This has led to the...

Work starts on huge LPG import and storage facility in Durban

Work starts on huge LPG import and storage facility in Durban
Construction is underway for a major LPG import and storage facility in Richards Bay, north of Durban in South Africa, the firms behind the project have confirmed. South Africa’s Bidvest Tank Terminals (BTT), a unit of Bidvest Group, and liquefied petroleum gas (LPG) firm Petredec said...

Kibo Mining signs MOU with TANESCO on Mbeya Coal Project

Kibo Mining signs MOU with TANESCO on Mbeya Coal to Power Project
Kibo Mining Plc (AIM:KIBO; AltX:KBO), has signed a Memorandum of Understanding with the Tanzania Electric Supply Company (TANESCO), for the Power Purchase Agreement (PPA) of the Company’s flagship 300MW Mbeya Coal to Power Project (MCPP). The MOU constitutes the precursor to the finalisation of the...

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