Caledonia boosts Blanket output, targets more gold in 2012
Caledonia Mining (CAL-T, CMCL-L) says total gold production for 2011 more than doubled at its Blanket mine in southwestern Zimbabwe, pushing its stock up nearly 9%.
Africa
Orezone turns asset to cash in Burkina
Being in a gold rich company before the rest of the world gets turned on to it can pay some handsome dividends as Orezone Gold (ORE-T) is proving in Burkina Faso.
Salazar gains on Lundin’s investment
Salazar Resources (SRL-V) climbed 18% on news that Lundin Mining (LUN-T) acquired a 15.4% stake in the company by buying over 80% of Salazar’s $3-million private placement, consisting of 6 million units priced at 50¢ apiece.
Glencore, Xstrata in merger talks
Commodities trader Glencore (glen-l) is looking to combine with Xstrata (xta-l) in a possible all-share merger of equals, which will see the combined entity dominate the global markets for thermal coal, zinc, lead and ferrochrome, and become a…
Great Western to reap Chinese expertise
Over the last month Great Western Minerals (GWG-T) has completed a joint-venture with the Chinese to build a rare earth separation plant near its Steenkampskraal mine in South Africa, about 350 km north of Capetown, and successfully carried out…
[Update]Burkina’s gold hunt on the rise
Burkina Faso has recently seen more gold mining due to its relatively stable government, favourable geology, modern mining code and attractive fiscal regime.
Perseus turns 1M oz. gold project into 7M oz. gold mine in Ghana
Perth-based Perseus Mining (PRU-T, PRU-A) has brought its first West African gold mine to commercial production, pouring 35,801 oz. gold in the fourth calendar quarter of 2011 from the Edikan gold mine in Ghana.
2012 guidance sends Semafo shares down
Montreal-based Semafo’s (SMF-T, OMX-Q) three operating mines in West Africa are expected to produce a total of between 235,000 ounces of gold and 260,000 ounces of gold in 2012, according to company forecasts.
Giustra shell graduate flops on Guinea iron ore assays
They say for every mine successfully put into production, 1,000 other geological prospects are tested and found lacking. Notwithstanding the small probability of achieving just one success over a life-long career in mining, a small group of…
Iamgold sees capex rising
Iamgold (IMG-T, IAG-N) has reported production of 253,000 attributable gold oz. in the fourth quarter of 2011, the company’s best quarter of the year. Full-year production, including the company’s production from discontinued businesses, was…
Kinross tumbles on project delays
Kinross Gold (K-T, KGC-N) fell more than 20% after it said it is reviewing its three major advanced gold projects to improve economics, likely causing months of delay and a goodwill write down of the Tasiast gold project in Mauritania.
Endeavour Mining set for West African growth following merger
Vancouver – Having just completed a merger with Adamus Resources in December, Australia-based Endeavour Mining (EDV-T, EVR-A) now has a two producing mines in West Africa with several advanced projects in the pipeline.