East African Mining News Unearthing Mining Opportunities in East Africa

Canadian company First Cobalt has announced intentions to close the transaction of a strategic alliance for a 70% interest in seven prospective copper/cobalt exploration properties in the Democratic Republic of Congo (DRC). The development is expected to progress exploration in one of the world’s ‘high-reward cobalt jurisdictions’. Targeted seven properties …

Vermiculite miner Black Mountain Resources has raised $1-million, with the funds to be immediately deployed to delivering operational improvements at its Namekara mine, in Uganda. The ASX-listed miner said the funds were raised through the placement of 25-million fully paid ordinary shares at $0.04 apiece to new cornerstone investor, Investmet. …

Kenya is reviewing its mining code, a year after enacting new legislation, as it seeks to attract investment into an industry that’s barely grown over the past five years. The government is working with the UK Department for International Development-funded Extractives Hub to come up with a revised law that …