West African to pay out half of profits, but warns of unrest
WEST African Resources (WAF) expects full-year profit to come in at more than twice its first-half figure, with the gold miner set to pay its maiden dividend. Speaking at the…
What resource nationalism means for Africa’s miners
Governments across Africa are seeking to assert greater control over their mineral wealth by rewriting mining codes, demanding larger equity stakes or greater local…
Endeavour CEO surprised by Barrick talk amid Mali exit
ENDEAVOUR Mining CEO Ian Cockerill said speculation in June linking his company with Barrick Mining made no sense because he would only be likely to back mergers and acquisitions…
Zijin ditches Allied Gold takeover for $295m stake instead
CHINA’S Zijin Gold International has abandoned its proposed takeover of Allied Gold, opting instead to take a $295m stake in the Canadian miner. A combination of political…
Islamist militants widen reach in Sahel mining zones
ISLAMIST militant groups are extending their footprint across central West Africa’s mining belt, contesting territory with governments and stoking fears over the safety of mining…
Ghana president’s brother embroiled in $250m gold row
A COMPANY owned by the billionaire brother of Ghana’s president is accused of waging a campaign of “industrial espionage” to seize a major gold project from international…
China pledges deeper cooperation with Namibia
CHINA has said it would deepen cooperation with Namibia across energy, agriculture, infrastructure and minerals following a meeting between its president Netumbo Nandi-Ndaitwah…
Guinea eyes regional gold refining hub
GUINEA is positioning itself to become a gold refining centre for West Africa, according to mines minister Bouna Sylla, as the region’s producers increasingly look to process…
Guinea bans raw gold exports to force local processing
GUINEA’S military president Mamadi Doumbouya has ordered an immediate halt to raw gold exports, requiring all gold to be refined domestically before leaving the country, said…
Barrick steps up Ebola precautions at Kibali mine
BARRICK Mining has introduced heightened precautions at its Kibali gold mine in the Democratic Republic of Congo’s Haut-Uele province following an outbreak of the deadly Ebola…
Endeavour on track to double forecast payouts to shareholders
West African gold producer Endeavour Mining delivered record financial results in the March quarter backing up earlier predictions by CEO Ian Cockerill that the company could…
Ghana picks E&P to run Damang gold mine
GHANA has awarded the Damang gold mine to local mining services company Engineers & Planners Ltd (E&P), said Reuters citing mines minister Emmanuel Armah-Kofi Buah on Tuesday.…
Cockerill’s 20-bagger: why discovery gives Endeavour edge
“IN an earlier life I must have been a fireman because instead of displaying rational behaviour in situations like this and running away, I tend to run towards them”. So said Ian…
Riskier but gold’s mid-tier and junior miners offer value
PAN African Resources broke into the JSE’s top 40 index last month with a market capitalisation of R65bn. Once a gold mining minnow, the share has tripled in value in the past 12…
West African says alternative plan submitted to Burkina Faso
WEST African Resources (WAF) said on Tuesday it had submitted an alternative proposal to Burkina Faso in response to its request for more shares in Kiaka, the Australian gold…
Endeavour CEO says West Africa still key to future
ENDEAVOUR Mining said it was committed to West Africa despite signing a joint venture to look for gold in Kazakhstan, and mining code uncertainty in the region. The JV with East…
Gold on G20 agenda is key in fight against illegal trade
GOLD’S record-breaking gains have generated joy among its miners — but also worry. Looking beyond the outsized financial gains for investors, the explosion in demand for a…
Newmont CEO says Ghana’s fiscal stability key
NEWMONT CEO Tom Palmer emphasised the importance of fiscal certainty and equitable taxation in attracting mining capital, as the company inaugurated its $900m Ahafo North…
Quartermaine announces retirement from Perseus Mining
JEFF Quartermaine will step down as MD of Perseus Mining on September 30 after more than a decade leading the African gold producer. The veteran executive joined the Perth-based…
Ghana cancels bauxite lease for overseas partnership
GHANA has scrapped a major bauxite deal with domestic company Rocksure International, opting instead to pursue international partnerships for developing one of West Africa’s most…