The Governor of the Central Bank of Congo (BCC), Deogratias Mutombo, believes that the current depreciation of the local currency is caused by the lack of repatriation of foreign earnings by mining companies into Congolese monetary circulation. Authorities in the Democratic Republic of Congo have indicated they will tighten controls …
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Tanzania gold miner Shanta Gold has completed the US$14.5 million acquisition of West Kenya across the border in Kenya, from Barrick Gold (now a 6% Shanta shareholder), and plans to start infill and extension drilling soon to try to build out the current resource of 1.2Mt grading 12.6gpt (1.18Moz) and …
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Data and analytics company GlobalData’s deals database shows that overall deal activity in the Middle East and African metals and mining industry increased by 16.7% in the second quarter. Twenty-eight deals worth $1.44-billion were announced for the region during the quarter, against the last four-quarter average of 24 deals. Of …
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Mineral Resource Management Specialist Minrom CEO Oscar van Antwerpen has revealed that the new mining software system allows companies to monitor and manage the licences, as well as receive timely warnings of missing documents or regulatory needs. The exploration and mining licence management software system is already in operation in …
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Barrick Gold Corporation has reinforced its team by making new appointments in the newly created positions of Africa and Middle East Exploration VP, and Latin America and Asia Pacific exploration VP. TSX- and NYSE-listed gold miner has appointed eminent geologists Aoife McGrath and Leandro Sastre in the position of Africa …
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GV Gold, also known as Vysochaishy, one of the fastest-growing Russian gold mining companies, has rolled out the Zyfra OpenMine fleet management system (FMS) at its Ugakhan Mine in Russia’s Irkutsk Region in Siberia. The implementation of the project has resulted in a year-on-year ore production volume increase of 11%. …
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Tanzanian Gold has strengthened its balance sheet by converting US$8.4 million of outstanding gold loans and convertible loans into common shares. The Company has also signed a flexible financing agreement for up to US$14 million of unsecured convertible debentures with institutional investors Riverfort Global Opportunities PLC. and YA II PN, Ltd. …
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Business mogul Haren Kumar Mandavia revealed that Kajiado County is an ideal investment area for his company and forms part of his expansion strategy. Shreeji Minerals a subsidiary of Shreeji Merchandising Group announced multi-billion investments into the mining sector. “This kind of investment is aimed at creating jobs to the …
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Due to the establishment of mineral exchange centre in each region, Tanzania has recorded a historical total mineral revenue collection of 58bn/- in April. The realisation came despite challenges caused by coronavirus outbreak that continues to rock the world. President John Magufuli unveiled this in Dodoma on Tuesday while delivering …
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The expectations and priorities of a modern-day investor in the mining sector have significantly changed in line with global demand for more responsible and sustainable extraction of mineral resources. ESG, referring to the performance of investment portfolios against Environmental, Social and Governance (ESG) standards, has firmly established itself across the …
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East African Mining News Unearthing Mining Opportunities in East Africa
