Jump to content

Conrad's Congo Club / Mining stocks in the DRC


Recommended Posts

  • Replies 738
  • Created
  • Last Reply
  • 2 weeks later...

Alexander Mining builds new pilot plant in DRC

http://www.iii.co.uk/articles/14462/alexander-mining-builds-new-pilot-plant-drc

 

Alexander Mining (AXM) has teamed up with Anvil Mining to build a new pilot cobalt processing plant in the Democratic Republic of the Congo.

 

The AIM-traded company said the joint venture would create a plant large enough to treat a total of 150,000 tonnes of cobalt ore at Anvil's Mutoshi deposit located in the Kolwezi region of the west African country.

 

The plant will employ Alexander's mineral processing technology, Ammleach, to process the ore in order to produce cobalt metal.

 

The company hailed the deal a "major" step for its technology, adding that it had already been in discussions with numerous other parties in the DRC.

 

As it stands, the construction and development of the pilot plant remains conditional upon the London-based company obtaining financing.

 

Alexander chairman Matt Sutcliffe said: "We are delighted to enter into this agreement with Anvil, one of the pioneers in successfully advancing the mining industry in the DRC. The agreement is a major advance for Ammleach."

 

Revenue generated from the sale of cobalt produced from the pilot plant will be used first to repay Alexander's capital and operating costs and secondly, to repay costs incurred by Anvil. Any remaining revenue will be shared equally between the pair.

Link to comment
Share on other sites

  • 1 month later...
  • 4 weeks later...

Mwana Africa could spin off Zani-Kodo gold mine

 

http://www.metalbulletin.com/Article/2835847/Minor-and-precious-metals/Mwana-Africa-could-spin-off-Zani-Kodo-gold-mine.html

 

Mwana Africa could spin off its Zani-Kodo gold mine in the Democratic Republic of Congo (DRC), to create a different risk profile to that of its assets in Zimbabwe, finance director Donald McAlister told MB on Tuesday as the company announced a share placing to raise $15 million

 

Mwana Africa could spin off its Zani-Kodo gold mine in the Democratic Republic of Congo (DRC), to create a different risk profile to that of its assets in Zimbabwe, finance director Donald McAlister told MB on Tuesday as the company announced a share placing to raise $15 million. The perception of risk in Zimbabwe has had an effect on fund-raising opportunities, McAlister said. Amended empowerment laws in Zimbabwe have affected new investment demand in the country, as foreign-owned companies will soon have to divest 51% of equity to local entities. “Zani has the potential for a multi-million-ounce resource. It’s...

Link to comment
Share on other sites

  • 3 weeks later...
  • 3 weeks later...

Development in a giant copper belt

 

This interview with Nigel Ferguson, President & CEO of African Metals, was recorded through Objective Capital in June during the Africa Resources Investment Congress 2011.

 

http://cdn.static.viddler.com/flash/publisher.swf?ref=www.goldinvest.de&key=cacf7684

Link to comment
Share on other sites

  • 2 weeks later...
  • 1 month later...

Banro: A High Risk Gold Miner With High Reward Potential

http://seekingalpha.com/article/285935-banro-a-high-risk-gold-miner-with-high-reward-potential

 

bought in @ 2,70,

yesterday some additional shares @ 3.80

 

Very good RI Quotient: http://shareknow.net/companies/1180

 

Production starts in Q IV 2011 ;)

Link to comment
Share on other sites

  • 1 month later...

His Excellency Martin Kabwelulu Labilo, DRC Minister of Mines will provide the welcome address to delegates of the 7th annual iPAD DRC conference. The address forms part of an impressive line-up during the opening session of the event on Monday, 3rd October 2011.

 

http://drc.ipad-africa.com/home.html

 

The opening session takes the theme: Overview of the current business and investment climate

in the DRC and the impact on the mining and exploration sectors. For two days mining sector stakeholders will gather at Kinshasa’s Grand Hotel for the most prominent annual meeting for the DRC’s extractive industries.

 

What’s on the agenda:

Some programme highlights include:

 

Update on the political committee for business climate improvement

H.E. Olivier Kamitatu Etsu, Minister, Ministry of Planning, Democratic Republic of Congo

 

Doing business with the DRC government

Dr Mark Bristow, Chief Executive Officer, Randgold Resources, United Kingdom

 

Gold: outlook and trends

Désiré Sangara, Vice-President Government Relations, Banro Corporation, Canada

 

Mineral certification projects in the DRC and the Great Lakes region

Uwe Naeher, Director, Mineral Certification Project, Federal Bureau of Geoscience and Natural Resources (BGR), Democratic Republic of Congo

 

Perspectives from an oil producer in the DRC

Yvonne Mbala, Head of Representation in Kinshasa, Perenco, Democratic Republic of Congo

 

Update on the smelter plans in the DRC

Jean Coppens, Project Manager DRC, BHP Billiton, South Africa

Link to comment
Share on other sites

African Metals Purchases a Concentration Plant and is Preparing to Commence Mining and Processing of Oxide Material at its Luisha South Project, Katanga Province, Democratic Republic of Congo. Secures Financing and Off-Take Agreement from Traxys.

 

Highlights

 

AFR's subsidiaries have:

 

Secured a US$3.7 million loan agreement with Traxys Europe SA

Executed a 4 year Off-take Agreement with Traxys Europe SA

Purchased a DMS Plant and Spiral bank with associated equipment

Executed a Management Contract with M&J Investments for managing the mining and processing of the Luisha South material, and

Expect to commence production in October 2011

Link to comment
Share on other sites

  • 2 weeks later...

Namakwa Diamonds sold its mining and exploration operations in the Democratic Republic of the Congo (DRC), as planned, on a "going concern basis" for $6.25 million. The sale was made to Hall Farm Avenue Ltd., the corporate vehicle of a management team lead by Namakwa's country manager in the DRC, James Tregenza. Namakwa will be paid a minimum of $1.25 million each of the next five years and it will retain an exclusive right to sell, as agent, diamonds from the DRC group assets for a royalty payment of 15% of revenues, after the deduction of marketing costs and expenses.

Link to comment
Share on other sites

Kibali gold plant to be commissioned two years early

 

Kibali, Democratic Republic of Congo --- MININGREVIEW.COM --- 05 October 2011 - “The giant Kibali gold project in the Democratic Republic of Congo (DRC) is targeting to commission its gold processing facility in the fourth quarter of 2013 ‒ almost two years earlier than originally intended,” says Randgold Resources chief executive Mark Bristow.

 

http://www.miningreview.com/node/20019

Link to comment
Share on other sites

  • 5 weeks later...
  • 2 months later...
  • 4 weeks later...

African Metals held up by violence and rain

 

2012-01-23

 

National elections in the Democratic Republic of the Congo (DRC) have held up African Metals (AFR-V) in the development of its Luisha South copper and cobalt project.

 

The turmoil around the elections - elections in which Joseph Kabila was declared the winner amidst much speculation over the authenticity of the results - led to key expatriate contractors having to leave the country. Their exit came after violent clashes were reported between supporters of different presidential candidates.

 

The exodus of top personnel put a halt to the construction of the dense media separation (DMS) plant. The company reports, however, that the contractors have returned under a stabilized political situation.

 

And as if political turmoil wasn't enough, heavy seasonal rain storms also contributed to delays, with the wet weather halting the concreting and plant assembly programs. The DMS module needed to be hauled onto the concrete pads and the company found the conditions too wet for towing. It says such delays have put it back several weeks from opening the plant and that it is continuing to drain the site of access water.

 

African Metals says final assembly will continue into January, but it expects to have the plant running and processing ore from stockpiles on site by early January.

 

As for what has been finished, the company reports that the feed bin, primary crusher, control units and generator are all in place, and that the assembly of the spirals bank and conveyor belt modules are also finished.

 

Africa Metals has a 75% stake in Luisha South with an option to increase its stake to 90%.

 

The project sits 80 km northwest of Lubumbashi in the copper-rich Katanga Province of the DRC. The site hosted a historic mine that produced 230,000 tonnes of ore at 10.1% copper and 2% cobalt. The mine was closed in the forties.

 

The DMS plant is expected to produce concentrates grading 32% copper and 1.2% cobalt, while the spiral plant should produce concentrates grading 28% copper and 1.6% cobalt.

 

The company plans to process stockpiled ore that amounts to 380,000 tonnes grading 1% copper and 0.4% cobalt, and says it can generate US$1.3 million in revenue from the stockpiles from a US$500,000 investment.

 

On Dec. 30 - the day delays were announced - the company's shares were flat at 12¢. Its shares have fluctuated between 44¢ and 12¢ over the last 52-week period.

Link to comment
Share on other sites

  • 1 month later...
  • 5 weeks later...

Archived

This topic is now archived and is closed to further replies.


×
×
  • Create New...