Metal Tiger plc, the London Stock Exchange AIM listed investor in strategic natural resource opportunities notes that MOD Resources, the 70% owner of Metal Tiger’s Joint Venture in Botswana has raised A$5.46 million (approx. £3.19 million) to fund ongoing expenditure on the Botswana project. In particular the funds raised will be utilised for feasibility studies in respect of the Joint Venture T3 copper-silver deposit and for further substantial exploration across the T3 Dome structure. “Work is set to resume on site in early January 2017 after the Christmas break. Exploration will include resource extension and geotechnical drilling at T3, completion…
Author: Editor
Anglo American plc said the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ tenth sales cycle of 2016, amounting to $418 million, compared with the $476 million value of the ninth sales cycle of 2016. Bruce Cleaver, CEO of De Beers, said: “We continued to see good demand for De Beers rough diamonds in our latest sales cycle. While the trade in lower value rough diamonds is experiencing a temporary slowdown as a result of the demonetisation programme in India, demand across the rest of the product mix continued to be healthy and overall…
Sheraton Hotels & Resorts, part of Marriott International, Inc. has announced the debut of Sheraton Grand in Africa with opening of Sheraton Grand Conakry welcoming it to the brand’s premier tier of hotels recognized for their exciting destinations, distinguished designs, and excellence in service and guest experiences. The newly built hotel marks Marriott International’s entry into Guinea, West Africa and joins a portfolio of more than 35 Sheraton Grand properties worldwide, with destinations spanning Istanbul, Dubai, Bangalore, Beijing and beyond. “Sheraton has a strong heritage in Africa that dates back to 1971,” said Alex Kyriakidis, President and Managing Director, Middle East and…
Lucara Diamond Corp. said following the close of the fourth Regular Tender of 2016, it exceeded $1.0 billion in accumulated sales since the start of production in June 2012. The company said the Q4 2016 revenue, inclusive of the second Exceptional Stone Tender held in November, is $66.1 million at an average of $743 per carat. On the other hand, the Year End Revenue Highlights Total revenue for the year end, inclusive of the Constellation Diamond sale, is estimated to be $295 million at an average of $823 per carat. Revenue excluding the sale of the Constellation Diamond is estimated…
SOROTI, Uganda: D’Ujanga Simon, Minister of State for Energy, together with representatives of Access Power and donors celebrated the inauguration of the solar power plant in Soroti. Made up of 32,680 photovoltaic panels, the new 10 megawatt facility is the country’s first grid-connected solar plant and will generate clean, low-carbon, sustainable electricity to 40,000 homes, schools and businesses in the area. The project was developed under the Global Energy Transfer Feed in Tariff, a dedicated support scheme for renewable energy projects managed by Germany’s KfW Development Bank in partnership with Uganda’s Electricity Regulatory Agency (ERA) and funded by the governments…
TSX-listed Tsodilo Resources Limited says it has negotiated a non-brokered private placement of 10,795,578 units of the company at a price per Unit of CDN $0.75, which will provide gross proceeds to the company in the amount of up to CDN $8,096,683. Proceeds from the private placement will be used by Tsodilo for advancement of the BK16 kimberlite project in Botswana and for general corporate working capital. Each Unit will consist of one common share and one common share purchase warrant of the Company, each such warrant entitling the holder to purchase an additional common share of the Company for…
CIMIC Group’s global mining services provider, Thiess, through its 60% share in the Majwe Mining Joint Venture, has secured a new two-year contract with Debswana Diamond Company’s Jwaneng mine in Botswana. The new contract, with revenue of approximately A$370 million, will result in partners Thiess Botswana, Basil Read Mining Botswana and Bothakga Burrow Botswana continuing mining operations at Jwaneng until the end of 2018. CIMIC Group Chief Executive Officer Adolfo Valderas said: “This contract reflects Thiess’ ability to successfully partner with leading local contractors to deliver flexible and sustainable solutions for our clients.” Thiess Managing Director Michael Wright said: “Our…
Extract Group Limited has denied claims by Lucara Diamond that it failed to fulfill its contract obligations following the termination of a mining contract at Karowe mine. The company, through its Eqstra Botswana operations commenced, in December 2014, a five year opencast mining contract with Boteti Mining Proprietary Limited, through its holding company, Lucara Diamond Corporation—which is listed on the Toronto Stock Exchange. “Shareholders are advised that Boteti has, on 29 November 2016, advised Eqstra Botswana of its intention to terminate the opencast mining contract and to cease mining operations on 13 December 2016,” said the JSE listed mining contractor.…
Cameroon is allowing conflict diamonds from the Central African Republic to cross over its borders and into the legal supply chain due to poor controls, smuggling and corruption, Partnership Africa Canada said in a report. The report, From Conflict to Illicit: Mapping the Diamond Trade from Central African Republic to Cameroon, investigates the failure of Cameroon’s implementation of the Kimberley Process—the international diamond certification scheme meant to stop the trade of conflict diamonds. The report comes on the eve of the Kimberley Process Review Visit to Cameroon which evaluates the country’s implementation of internal controls that govern diamond production and…
The Government of the Republic of South Sudan and Africa Oil & Power have agreed to work in partnership on a slew of initiatives to promote foreign direct investment in the East African country. Salva Kiir Mayardit, President of the Republic of South Sudan, will present a keynote address at Africa Oil & Power, to be held June 5-7, 2017 in Cape Town. The conference will also host a special Market Spotlight session on South Sudan which will feature Minister of Petroleum Ezekiel Lol Gatkuoth alongside key industry leadership to discuss developments in the industry. The Government of South…