Tanzania to add Gold to reserves, resume US$3b Iron project

TANZANIA – The government of Tanzania has launched a new gold refinery as its central bank plans to start buying the metal to diversify its reserves. The Mwanza Precious Metal Refinery Limited is able to process 480 kilogrammes of gold per day, and plans to double the capacity in a few months, Tanzanian President Samia Suluhu Hassan said in a televised speech. The East Africa nation’s State Mining Corporation has a 25% stake in the project, while Dubai-based Rozella General Trading LLC and Singapore’s ACME Consultant Engineers PTE Ltd. own…

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Mining company Afrimat diversifies further with acquisition of near-development manganese project

SOUTH AFRICA – Black empowered open pit mining company Afrimat, has entered into a purchase agreement with Aquila Steel and Rakana Consolidated Mines for the acquisition of a 100% stake in the Gravenhage manganese mining right and associated assets near Hotazel, in the Northern Cape, South Africa. Afrimat CEO Andries van Heerden says the greenfield, near-development project, with a life-of-mine of more than 20 years, is one of the last independently owned, undeveloped manganese deposits in South Africa. The manganese mine is situated about 50 kilometres  north of Hotazel and about 120…

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Glencore to restart operations at Mutanda copper, cobalt mine in DRC in 2022

DRC – Anglo-Swiss multinational mining company Glencore has announced plans to restart operations at Mutanda, the world’s biggest cobalt mine that also produces large amounts of copper in the Democratic Republic of Congo in 2022, a source with direct knowledge of the matter told Reuters. Glencore, one of the world’s largest copper producers and leading cobalt producer, said in February 2021 that the process to resume production at Mutanda was underway, but did not give a specific date. Copper is a vital material for the power and construction industries, and it…

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Heritage Bank to invest US$841bn in Dukia Gold & Precious Metals

NIGERIA – Heritage Bank Plc is set to unlock N344 trillion (US$841.67bn) market worth of gold after a collaboration with Dukia Gold & Precious Metals Refining Co. Limited and concluded plans of being listed on the Lagos Commodities and Futures Exchange. The bank said the move would expand revenue in the non-oil sector through diversification, by stimulating growth in solid minerals in line with the objectives of Economic Recovery and Growth Plan and would also put Nigeria on the global map with regards to standardized gold tracing, sourcing procurement and…

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Kgatelopele Lime acquires PPC Lime for US$39.1m

SOUTH AFRICA – IMR, the global commodities trader with ownership of mining assets and steel production facilities, has announced the US$39.1 million acquisition of PPC Lime in South Africa along with a consortium of investors. Anirudh Misra, Chairman of IMR, commented: “After an extensive tender process, we are pleased to have presented a sustainable and transparent structure to carry these operations forward. Through our previous acquisition of the Sedibeng Iron Ore mine in the Northern Cape, South Africa, we have shown ourselves to be willing investors in South African mineral…

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Swedish engineering company Sandvik AB to acquire African OEM Kwatani

SOUTH AFRICA – Swedish mining and construction equipment and services company Sandvik Group will acquire African original-equipment manufacturer (OEM) of custom-engineered vibrating equipment Kwatani. The transaction is expected to be finalised in the fourth quarter of 2021, subject to regulatory approvals and other customary conditions. “Kwatani’s production facility, in Johannesburg, is set to become a global engineering and manufacturing base for vibrating screens and feeders for both local and international customers,” said Kwatani CEO Kim Schoepflin. “Customers in the vibrating equipment industry will benefit enormously from the combined resources of Sandvik and…

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Mayflower Gold completes acquisition of Kilimapesa gold mine in Kenya

KENYA – Mayflower Gold has completed the acquisition of the Kilimapesa gold Mining and processing operations in Kenya from Alternative Investment Market of London Stock Exchange-listed Goldplat. The acquisition has been brought forward ahead of completion of the planned reverse takeover (RTO) of Papillon Holdings by Mayflower which will create a new London Stock Exchange listed gold producer in East Africa called Caracal Gold. Kilimapesa is an established, permitted, and operating gold mine with current gold sales and successive gold pours in 2021. Operations recommenced in 2020 after a period…

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Engineering and mining contractor Murray & Roberts wins US$161m contract with Newmont Corporation

SOUTH AFRICA – Ruc Cementation Mining Contractors, a subsidiary of the Murray & Roberts (M&R) mining platform, has been awarded a US$161 million Newmont Corporation shaft lining and equipment contract in Australia. The contract was for Newmont’s Tanami Expansion 2 project in Australia’s Northern Territory. Newmont is the world’s largest gold producer. The announcement saw M&R’s share price increased by 2.8 percent to US$0.77 on the Johannesburg Stock Exchange with the price well up from US$0.36 same period in 2020. RUC is a diversified underground mining contractor with an extensive…

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Managem Group to expand its gold mining portfolio to 50% after expansion

MOROCCO – Managem Group, a mining company, has announced that it is aiming to expand the share of gold in its portfolio, from 20% to 50%, in line with growing production in its Sudan mine. According to the company’s CEO, Imad Toumi, the expansion of the Gabgaba mine in Sudan, as well the launch of Managem’s Tri-K gold mine in Guinea later this year, are both contributing factors to the mining company’s growing gold portfolio. While gold currently accounts for 20% of the mining giant’s turnover, Managem hopes to increase…

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Chinese car battery maker CATL buys stake in DRC cobalt mine for US$137.5m

DRC – Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) has announced that its subsidiary would take a stake in China Molybdenum Co’s Kisanfu copper/cobalt mine in the Democratic Republic of Congo (DRC) for US$137.5-million. The investment gives CATL access to one of the world’s largest undeveloped sources of cobalt, an ingredient in electric vehicle (EV) batteries. Cobalt prices are up more than 50% this year on surging EV demand and concerns of a supply squeeze. Under a strategic partnership agreement, Ningbo Brunp CATL New Energy Co will take…

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