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GABORONE – Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200-million to bring its copper-silver mine in Botswana to production, the company said on Tuesday.Construction of the mine, which will be built by Cupric’s Botswana unit Khoemacau, is set to start in 2016 …
Read More »Botswana seeks to build solar plants for mines
GABORONE – Botswana’s government launched a bidding process on Tuesday to construct solar power plants near its huge Jwaneng diamond mine and for the nation’s northwest, where copper assets are being developed.“This invitation … is a request for expression of interest to construct, operate, maintain and decommission at the end of its …
Read More »Gemfields Singapore auction yields $29.3m
Coloured gemstones miner Gemfields earned $29.3-million from the sale of rubies mined at its Montepuez deposit, in Mozambique. The Aim-listed company’s fourth auction of rough rubies from Montepuez, saw 46 companies placing bids, with the auction realising an average price of $617/ct. The auction, which took place from June 16 …
Read More »British company buys Gold mining license in Mozambique
British company Xtract Resources has issued shares to partially finance the acquisition of a gold mining license in Manica province, Mozambique, the company said in a statement issued on Monday. This issue of almost 1.5 million shares generated a cash inflow of 4.4 million pounds, which will be used in the …
Read More »India’s thermal coal imports likely to spike owing to poor monsoon rains
Indian thermal coal imports were expected to spike over the next few months, exceeding the 200-million-ton forecast for the current financial year, a senior government official has said. Indian thermal coal import projections for 2015/16 have already been increased to 200-million tons, but shipments could well increase by between 15% …
Read More »DRC says Invanhoe mines’ kamoa deal should be suspended
Democratic Republic of Congo said recently that Ivanhoe Mines’ sale of a stake in the Kamoa copper mine to China’s Zijin Mining should be suspended until concerns raised by the government can be resolved.Vancouver-based Ivanhoe announced last month that it would sell a 49.5% stake in Ivanhoe subsidiary Kamoa Holding …
Read More »Junior miners perceive Botswana as best investment destination
Botswana is the easiest country in which to carry out junior mining activities, a digital vote declared on the first day of the Junior Indaba here on Wednesday.Botswana received the highest vote from the 160 people attending the conference.Botswana at 42% of the digital vote had double South Africa’s 21%, with …
Read More »Acacia Mining contributes $675M to Tanzanian economy in 2014
Underground at Acacia Mining’s Bulyanhulu mine A report recently released by EY has demonstrated the significant impact that African gold miner Acacia Mining’s activities in Tanzania continue to have on the country’s economic development. Entitled Acacia Mining Total Economic and Tax Contributions in Tanzania, 2014, the report demonstrated that in 2014, Acacia purchased …
Read More »Triton raises funds to advance the Mozambique project
Minerals developer Triton Minerals has raised A$12-million through a share placement to a Hong Kong investor, institutional groups and sophisticated investors. The miner said on Monday that it had placed some 34.3-million shares, at 35c each, to raise the funding that would enable Triton to rapidly progress the definitive feasibility …
Read More »Tanzania gets $45m World Bank loan to improve the mining sector
The World Bank has approved a $45-million loan for Tanzania, Africa’s fourth-biggest gold producer, to help improve its mining sector especially among small-scale producers.The funds will help to create a viable domestic mining industry in poor, rural areas where unregulated artisanal and small-scale mining takes place, Philippe Dongier, the Bank’s …
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