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, …
Read More »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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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 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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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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The New Africa Power joint venture (JV) plans to develop a 65 MW portfolio of small-scale, run-of-the-river hydropower projects in Zambia. The JV, established by Nairobi-based energy holding company responsAbility Renewable Energy, international finance institution Norfund and investment company Vineyard, has committed $4.6-million for the feasibility phase of the development, …
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Zambia Chamber of Mines has applauded government for lifting night time driving ban for cargo haulage trucks. “The mining sector is obviously relieved that the measures… have been amended to reflect the reality of transporting essential industrial inputs and commodities on our roads,” said Nathan Chishimba, Chamber of Mines President. …
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Australian company Weatherly has entered into a binding agreement to purchase 100% of the Kitumba copper project. The AU$ 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 …
Read More »Konkola Copper Mines (KCM) has announced intentions to set up a new copper smelter, cobalt refinery and other infrastructure. The projects are to be financed through the $1 billion investment programme announced earlier this year. In March Vedanta announced the $1 billion investment after a meeting between its Chairman Anil …
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The Tanzania-Zambia Railway Authority (TAZARA) has suspended all train services, including the transportation of copper following a strike by workers. The line a route for copper exports from Zambia and the Democratic Republic of Congo (DRC), but the firm transporting the metal struggles to pay its workers, prompting strikes. Conrad …
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