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Mkango granted licence in Malawi

Mkango Resources has been granted an Exclusive Prospecting Licence for a nickel-cobalt deposit at Chimimbe Hill in the district of Mchinji in Malawi. The Chimimbe Hill licence covers an area of 98.48km² and features laterite and saprolite hosted nickel, cobalt, chrome and other mineralisation. Mkango Resources president, Alexander Lemon, says …

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Alrosa expands Angolan diamond interests

Wargan Holdings, a company whose share capital is 100% owned by Russian group Alrosa, has acquired the 16.4% stake held by Odebrecht Mining Service Investments in the Catoca Mining Company (Sociedade Mineira de Catoca – SMC), according to an order published in Angola’s official bulletin, Diário da República. According to …

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Copper hits two-week low, Zinc at Highest in more than a Decade

COPPER hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. The dollar rose against the euro, making dollar-priced metals costlier for non-U.S. investors, …

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Mutanga’s PEA indicates positive projections

Mineral resource focused company GoviEx says preliminary economic assessment (PEA) for the expanded Mutanga envisions an average annual production rate of 2.4 million pounds of U3O8 yellowcake over an initial 11-year mine life. According to the PEA the initial capital costs are estimated at US$123 million, with estimated cash operating costs …

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Intrepid, Weatherly set to conclude Kitumba sale

Australian company Weatherly has announced that its intentions to acquire Kitumba copper project is being held by the vendor, Intrepid Mines Limited. According to the company one of the items to be resolved ahead of the deal expected to be sealed in February is the shareholder approval which is one of …

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GoviEx close private placement financing

GoviEx Uranium has closed private placement expected to continue financing exploration and development activities on the company’s mineral assets. The C$5.385 million private placement financing is to strengthen GoviEx’s principal objective to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in …

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Firestone extends Botswana’s BK11 asset sale period

British junior miner Firestone Diamonds has agreed to extend the option period granted to Amulet Diamond Corporation (Amulet) to purchase Firestone’s BK11 asset until 31 December 2018. BK11 is a diamond asset in Botswana, currently on care and maintenance. Amulet is funding the construction and operation of a bulk sampling …

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New investor for Kitumba copper project

Australian company Weatherly has entered into a binding agreement to purchase 100% of the Kitumba copper project. The AU$ 4.75 million deal is subject to certain conditions precedent including intrepid shareholder approval and any regulatory approvals required in Zambia and Australia. Kitumba copper development project hosts a JORC-compliant measured and indicated resource of 24.9Mt at a copper …

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Mutanga Uranium post positive economic review report

GoviEx Uranium has announced encouraging results of a preliminary economic assessment for the Mutanga Uranium Project. Mutanga is GoviEx’s second large-scale, mine-permitted project in Africa postioned for development The project development plan envisions an average annual production rate of 2.4 million pounds of U3O8 yellowcake over an initial 11-year mine …

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Yaluma wants to fast-track copper beneficiation

Authorities are expected to draft a policy compelling mining firms to set up processing plants for finished copper products in Zambia. Christopher Yaluma, the minister of mines says it is unacceptable to continue importing finished copper products, instead of manufacturing from within the country. Yaluma says copper beneficiation will create …

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