Mining Companies - Copperbelt Katanga Mining

East Africa tips mine construction soon in Ethiopia's Tigray 1

East Africa Metals expects construction at its Adyabo joint venture gold project in Ethiopia’s troubled Tigray region to start early this year. Development had been slated for November, when COVID-19 travel restrictions were expected to be lifted, but kick-off was further delayed by the state of emergency sparked by conflict between Ethiopian federal armed forces and the Tigrayan People’s Liberation Front. Fellow TSX Venture Exchange-listed Sun Peak Metals had declared force majeure on its flagship Shire project in the Tigray region in late November, which the company said would remain in place… Read More Here

Mining Companies International

Sandvik to buy DSI Underground for €943M

January 6, 2021January 6, 2021 admin

Swedish mining engineering company Sandvik plans to acquire German tunnelling technologies company DSI Underground for €943 million (US$1.1 billion) in cash. Sandvik said the purchase of the safety solutions company from its owner, investment firm Triton, would improve its underground product offerings. Sandvik has signed an agreement to acquire DSI Underground, a global leader in ground support and reinforcement products, systems and solutions for the underground mining and tunneling industries from Triton. The company will be included with reporting from the Sandvik Mining and Rock Solutions unit. “This acquisition is… Read More Here

Mining Companies

IAMGOLD, AngloGold Ashanti close Mali mine sale

December 31, 2020December 31, 2020 admin

IAMGOLD (TSX: IMG) (NYSE: IAG) and joint venture partner AngloGold Ashanti announced Wednesday that they completed the sale of their collective interests in Société d’Exploitation des Mines d’Or de Sadiola S.A. to Allied Gold Corp. (TSE: ALG). SEMOS’ principal asset is the Sadiola gold mine, in the Kayes region of Western Mali. Sadiola, one of the three assets AngloGold Ashanti put on the chopping block this year and IAMGOLD’s founding asset, is also owned by Mali’s government, which has an 18% interest. The $150 million deal was first announced in December 2019 but delayed in August over… Read More Here

International Mining Companies

Epiroc to acquire mine productivity software company

December 23, 2020December 23, 2020 admin

Swedish mining engineering company Epiroc plans to acquire South African mine planning, execution and analytics software company MineRP. Epiroc said MineRP’s software platform, which supports large and medium-sized mines globally in optimizing operational efficiency, would strengthen its digitalisation offering. Financial details of the deal were not disclosed “This acquisition fits well into Epiroc’s focus on supporting mining companies on their digitalisation journey. The combination of MineRP’s platform capabilities with Epiroc’s digital solutions, partners and global presence has the potential to transform the way that mines operate,” said Helena Hedblom, Epiroc’s… Read More Here

Mining in DRC Mining Companies

IGF, APLC and Gécamines to investigate the sale of Metalkol royalties to Dan Gertler – DRC

December 8, 2020December 8, 2020 admin

The campaign “Congo is not for sale” (CNPAV) has, during a press conference held this Monday, December 07 in Kinshasa, urged the General Inspectorate of Finance and Gécamines to carry out a rigorous audit of the sale. royalties from Metalkol to Israeli businessman Dan Gertler. In a video released on November 16, Israeli billionaire Dan Gertler announced that he now intended to bring the country’s wealth to the Congolese. Without giving details, he intends to “share” the royalties from Metalkol’s copper-cobalt company, revenues initially intended for Gécamines and the public treasury. … Read More Here

Mining Companies

Barrick listed again in Dow Jones Sustainability Index

November 28, 2020November 28, 2020 admin

Barrick Gold Corporation has retained its listing in the prestigious Dow Jones Sustainability Index’s (DJSI) World Index, ranking in the 95th percentile of all mining companies assessed. This is the 13th consecutive year Barrick has been listed in the World Index, in which 2,500 companies are evaluated against governance, social performance, environmental management and economic contribution factors to identify the top 10% or “best in class” performers in every industry. The DJSI is the longest-running global sustainability benchmark worldwide and has become the key reference point in sustainability investment. Barrick… Read More Here

Mining in DRC Mining Companies

US Court awards $135m to shareholders of DRC mine

November 5, 2020November 5, 2020 admin

A US Court for the Eastern District of New York on Tuesday sentenced OZ Africa, a subsidiary of multi-billion-dollar hedge fund Och-Ziff, for corruption linked to mining projects in the Democratic Republic of Congo (DRC). The court reportedly awarded $135 million in restitution to the former shareholders of Africo Resources Ltd, who lost their investment. The shareholders were recognized as “victims of crime” by the court for loss of their interest in the prospective Kalukundi copper and cobalt mine in southern Congo. Congolese communities living near the mine received no compensation as their plight… Read More Here

Mining Companies

Metso Outotec, Boliden renew Aitik service contract

October 26, 2020October 26, 2020 admin

Boliden has renewed the service contract with Metso Outotec for the Aitik copper mine in northern Sweden. The 3+2-year extension covers the supply of mill and chute lining, preventive maintenance of the grinding circuit and recycling of used wear parts. Financial details were not disclosed. The contract is a performance-based cost-per-tonne deal. The new contract also focuses more on the management of worn wear parts, with Metso Outotec developing capabilities to recycle and dispose them more sustainably. The AG mills in Aitik will continue to use Metso Outotec’s Megaliner mill lining. Megaliner… Read More Here

International Mining Companies

Swedish group Sandvik to sell exploration business to Drillman

October 13, 2020October 13, 2020 admin

Swedish engineering group Sandvik has agreed to sell its exploration business to Drillman, a subsidiary of the M Group of companies. Sandvik will divest exploration rigs, consumables and production stock. The agreement also includes certain trademarks and patents. Sandvik president and CEO Stefan Widing said: “I am pleased that we have signed an agreement to sell our exploration business as this is in line with our focus to further improve the efficiency and profitability of our company.” Drillman is a provider of equipment and technical support to the geotechnical, mineral… Read More Here

Mining in DRC Mining Companies

Miscue in DRC mining code delays repatriation of $500m to Barrick & AngloGold

October 8, 2020October 8, 2020 admin

BARRICK Gold and AngloGold Ashanti have still not received the payment of some $500m in profits from their jointly-owned Kibali gold mine in the Democratic Republic of Congo (DRC) despite Barrick CEO Mark Bristow stating in August that payment had been approved and all that was left was “just the paper work”. Replying to a question at the Joburg Indaba mining conference, Bristow maintained the money was “safe” and being held in a US dollar account in Barrick’s name. “Being Africa, sometimes paperwork takes a little longer than normal, but it… Read More Here