Africa Mining: Harmony Gold eyes acquisitions after FY earnings rise

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Harmony Gold facilities, South Africa

South African miner Harmony Gold reported a 35 percent rise in full-year profit on Thursday and said it will look at growth, exploration and acquisitions to meet its 2019 production targets. Continue reading

Mozambique Mining: Xtract Resources begins exploration of gold deposits in Manica

Gold

Gold samples

The start of exploration of alluvial gold deposits at the Manica concession in central Mozambique is expected to begin later this month, said Xtract Resources, which is listed on the London Stock Exchange’s Alternative Investment Market (AIM).

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Africa Mining: Angolan government organizes gold trade

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Gold

Four Angolan companies received on Tuesday in Luanda contracts from the Ministry of Geology and Mines granting them the right to commercialize gold extracted by artisanal producers in Angolan territory. Continue reading

Africa Mining: Egypt awards gold mining tender to four companies

Egypt sukari-open_pit

Egypt’s only operating gold mine, Sukari, is located about 700 km from Cairo. (Image courtesy of Centamin.)

Four companies, including two foreign ones, have won Egypt’s gold mining exploration tender for five concessions in the Eastern Desert and the Sinai Peninsula, Petroleum Minister Tarek El Molla said on Monday. Continue reading

Africa Mining: Mali demands $80M tax claim payment from Randgold

gold

Gold samples

Mali’s government ordered Randgold Resources on Monday to pay half the 46.89-billion CFA francs ($80-million) it says the London-listed miner owes it before opening talks about the remaining sum. Continue reading

Africa Mining: “SA mining industry continues to face tough times” — PwC report

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Last year reflected the worst free cash flow position since the financial crisis in 2008.

Companies had no choice but to cut back on new developments, re-focus on profitable production rather than maximum production and to save costs. Continue reading