vssmnn Posted March 3, 2010 Author Report Share Posted March 3, 2010 Kilo Goldmines Announces Appointment of CFO http://www.marketwatch.com/story/kilo-gold...nk=MW_news_stmp Katumbi gets back seized assets http://www.zambianwatchdog.com/2010/02/19/...-seized-assets/ Link to comment Share on other sites More sharing options...
vssmnn Posted March 4, 2010 Author Report Share Posted March 4, 2010 Banro Foundation and Lugushwa community inaugurate the new Kigumo Health Clinic Banro Foundation and Lugushwa community inaugurate the new Kigumo Health Clinic TORONTO, Mar 4, 2010 (Canada NewsWire via COMTEX News Network) -- Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") announces that the Banro Foundation, a registered charity in the Democratic Republic of the Congo (the "DRC"), has officially handed over to the community of Lugushwa in South Kivu province of the DRC the new Kigumo Health Clinic. The inauguration of the Kigumo Health Clinic took place on Friday, February 26, 2010 in an Official Ceremony presided over by South Kivu Deputy Governor Jean Claude Kibala and Banro President and C.E.O Mike Prinsloo. Among the local leaders in attendance were Honorable Longangi Byemba Tsonga Yaya, Member of the South Kivu Parliament, Chief Christian Longangi Byemba Kampangalasa, Dr. Edouard Muzito Basubi, territorial physician, Wenga Kitoga, territorial administrator, and Patient Kabanga, representing the South Kivu Ministry of Mines. Representatives of the South Kivu Ministry of Health also participated. The health clinic was financed and built by the Banro Foundation using local contractors and labour. The Banro Foundation also underwrote the costs of new medicines, which were provided by a state-approved pharmaceutical products supplier, and donated medical equipment, beds and mosquito netting to help launch the new facility. With the handover of the Kigumo Health Centre, the Banro Foundation completes an ambitious cycle of major social infrastructure projects begun in 2008 that includes two new high schools, a potable water delivery system serving 18,000 people in four villages, the construction or re-construction of over 100 kilometres of roads and bridges and the distribution of medical equipment from Canada to seven regional hospitals and clinics. The Banro Foundation is commencing a new cycle of projects as recommended by community leaders at Banro's three active exploration and development sites. . The Banro Foundation is a registered charity based in Bukavu, DRC and funded by the Company with a mandate to improve the lives of thousands of people living in South Kivu and Maniema provinces through strategic investments in education, health and infrastructure development and to provide humanitarian assistance as needed. Among the principles guiding the work of the Banro Foundation is a focus on needs identified by local community leaders, with priority given to projects that benefit communities as a whole. Where possible, the Foundation employs local labour in its initiatives. Photographs of the Ceremony will be available soon on the Banro website at www.banro.com. Link to comment Share on other sites More sharing options...
vssmnn Posted March 6, 2010 Author Report Share Posted March 6, 2010 El Nino Ventures Inc. corporate update Democratic Republic of the Congo El Nino Ventures Inc. (" ELN | Quote | Chart | News | PowerRating" or the "Company") (TSX.V: ELN; FSE: E7Q) wishes to announce an update on the Company's business affairs in the Democratic Republic of the Congo (the "DRC"). Upon review of the Company's exploration portfolio in the DRC, ELN has made a decision to terminate its agreement with Phoenix Mining Corporation SPRL ("PMC") to acquire a 70% interest in a joint venture company into which PMC purportedly could transfer its rights to the DRC research permit designated as PR9316. As a result of ELN's notice of termination of the agreement with PMC, a claim was initiated by PMC in the DRC against the Company. At the time this claim was filed, George Kavvadias was a principal shareholder of PMC. The lawsuit alleges that ELN is obligated under the terminated agreement to make a first anniversary payment to PMC of $250,000 as well as to pay damages. Management's position is that the DRC is not the forum for disputes under that agreement and that no such payment obligation exists for various reasons including that the termination notice was given in a timely manner prior to the first anniversary of the agreement. The Company has retained legal counsel in the DRC to address PMC's claims, all of which the Company firmly believes are unfounded and without any merit. The Company was also served at the same time with a claim filed in the DRC by GCP Group Ltd. ("GCP"). George Kavvadias is also the Chief Executive and principal shareholder of GCP. In 2007, Mr. Kavvadias had been retained on a consulting basis as DRC Country Manager for ELN. In connection therewith, he managed Infinity Resources SPRL, a DRC joint venture company owned by ELN (as to 70%) and GCP (as to 30%). GCP is claiming fees and expenses alleged to be owing to it by ELN in connection with the provision of services alleged to have been rendered by GCP to Infinity Resources SPRL. El Nino has retained legal counsel in the DRC to respond to these claims which it firmly believes are unfounded and without any merit. The Company is also considering initiating counter claims relating to the above-mentioned lawsuits and joint venture agreements. Link to comment Share on other sites More sharing options...
vssmnn Posted March 6, 2010 Author Report Share Posted March 6, 2010 http://elementalminerals.com.au/images/sto...esearchNote.pdf Link to comment Share on other sites More sharing options...
vssmnn Posted March 7, 2010 Author Report Share Posted March 7, 2010 Congo-Kinshasa: Dams, Rivers, and Stolen Millions http://allafrica.com/stories/201003040995.html Pangea to merge with Swedish firm http://www.miningmx.com/news/diamonds/pang...wedish-firm.htm Link to comment Share on other sites More sharing options...
vssmnn Posted March 8, 2010 Author Report Share Posted March 8, 2010 Link to comment Share on other sites More sharing options...
vssmnn Posted March 9, 2010 Author Report Share Posted March 9, 2010 Kilo Mobilizes Drills to the Somituri Project, a Former Gold Producer in the DRC and Provides an Update on Masters Project http://www.stockhouse.com/financialTools/s...;newsid=7658049 Link to comment Share on other sites More sharing options...
vssmnn Posted March 9, 2010 Author Report Share Posted March 9, 2010 March 08, 2010 Elemental Minerals Could Be Sitting On A Company-Making Potash Deposit In Congo-Brazzaville By Charles Wyatt http://www.minesite.com/nc/minews/singlene...zzaville/1.html Two other directors, Ian McPherson and John Sanders were involved in Uramin, the uranium company which realized huge profits for its investors when it was taken over by AREVA in 2007. Link to comment Share on other sites More sharing options...
vssmnn Posted March 10, 2010 Author Report Share Posted March 10, 2010 DRC's deputy mines minister Kasongo stands down London 09 March 2010 16:12 Victor Kasongo has stood down from his role as deputy mines minister in the Democratic Republic of Congo (DRC), MB understands. “Victor Kasongo Shomary is out of [the] team and now [there is] no deputy minister of mining so Martin [Kabwelulu Labilo] is alone in ministry of mines in the country,” a DRC-based source told MB in an email. The move is part of a cabinet reshuffle, MB understands. Mining companies in the DRC will be watching such... http://www.metalbulletin.com/Article/24411...tands-down.html Link to comment Share on other sites More sharing options...
vssmnn Posted March 10, 2010 Author Report Share Posted March 10, 2010 +++DRC to review oil deals+++ http://thecitizen.co.tz/business/14-intern...-oil-deals.html Democratic Republic of Congo's newly appointed oil minister will review exploration contracts yet to be approved by the President, and wants a new oil code passed into law by the end of March, he said late yesterday. The central African country produces just 25,000 barrels a day from its southwestern region, but its potential may be much greater, and the minister wants to attract investors. Several deals agreed by previous ministers have been waiting for years for the presidential green light they need before firms can begin work in Congo. Firms active in the Congolese oil sector include Tullow Oil, which, with its project partners, is awaiting ratification of licences for two blocks in Lake Albert, and Dominion Petroleum, which has been waiting for approval of its award of a block in Lake Edward since 2007. Celestin Mbuyu, a former interior minister who was given the oil portfolio in a cabinet reshuffle late last month, said he wanted a cleaner outcome than Congo's wide-ranging review of mining deals. That process was completed last year, but two large copper contracts are yet to be settled. One, involving First Quantum and the IFC, the World Bank's private sector arm, is the subject of international arbitration. "You can't conclude that because of some problems with some companies that you can't work with the state," Mbuyu told Reuters in an interview. A new oil code that will standardise agreements is awaiting parliamentary approval, he said. "We're asking for it to be done at the earliest possible opportunity," Mbuyu said, suggesting the end of March as a likely date. Three regions -- Lake Albert, which borders Uganda in the east, Bas-Congo in the south, and the central basin -- may between them hold several billion barrels of oil, he said. "We don't yet have precise studies, but it could mean the mining sector is nothing in comparison to oil," said Mbuyu. Congo, once a major producer of copper and cobalt, is trying to revive its mining industry, which despite years of underinvestment and mismanagement is still an economic backbone. "If all goes well we could have first (oil) production in three to four years," Mbuyu said. "There's potential everywhere. The problem now is to see how to exploit the value," said Mbuyu. "Betweeen 30 and 40 investors have come to see me since I became minister," he added. "Congo is open to all, but it's very complicated work -- we have to go slowly and go together," he said. Mbuyu said he also wanted to ensure all of the country's 145 territories have a petrol station, up from about one third of them now. "Some territories have no roads and no petrol stations for hundreds of miles," he said. "We are discussing how to commercialise petrol stations." Link to comment Share on other sites More sharing options...
vssmnn Posted March 12, 2010 Author Report Share Posted March 12, 2010 http://www.tigerresources.com.au/aurora/as...h%202010(3).pdf Link to comment Share on other sites More sharing options...
vssmnn Posted March 12, 2010 Author Report Share Posted March 12, 2010 Lundin investors pleased as Congo situation brightens http://www.vancouversun.com/business/Lundi...0081/story.html Link to comment Share on other sites More sharing options...
sokimo Posted March 16, 2010 Report Share Posted March 16, 2010 Which company is still missing ? Solely active in the DRC Partly active in mining Profitable and dividend paying Stockmarket listed Has a legitimate claim on the DRC worth more then the actual market cap Link to comment Share on other sites More sharing options...
vssmnn Posted March 16, 2010 Author Report Share Posted March 16, 2010 Which company is still missing ? Solely active in the DRC Partly active in mining Profitable and dividend paying Stockmarket listed Has a legitimate claim on the DRC worth more then the actual market cap Dividende paying 3 years after the civil war? Thats not fair. I wait for Banro....will fulfill your expectations. Link to comment Share on other sites More sharing options...
vssmnn Posted March 18, 2010 Author Report Share Posted March 18, 2010 KOLWEZI TAILINGS First Quantum in $12bn court farce http://www.mineweb.co.za/mineweb/view/mine...etail&pid=1 Link to comment Share on other sites More sharing options...
vssmnn Posted March 19, 2010 Author Report Share Posted March 19, 2010 Congo oil minister to examine delayed deals By Katrina Manson Democratic Republic of Congo's newly appointed oil minister will review exploration contracts yet to be approved by the President, and wants a new oil code passed into law by the end of March, he said late on Monday. The central African country produces just 25 000 barrels a day from its southwestern region, but its potential may be much greater, and the minister wants to attract investors. Several deals agreed by previous ministers have been waiting for years for the presidential green light they need before firms can begin work in Congo. Firms active in the Congolese oil sector include Tullow Oil, which, with its project partners, is awaiting ratification of licences for two blocks in Lake Albert, and Dominion Petroleum, which has been waiting for approval of its award of a block in Lake Edward since 2007. Celestin Mbuyu, a former interior minister who was given the oil portfolio in a cabinet reshuffle late last month, said he wanted a cleaner outcome than Congo's wide-ranging review of mining deals. That process was completed last year, but two large copper contracts are yet to be settled. One, involving First Quantum and the IFC, the World Bank's private sector arm, is the subject of international arbitration. "You can't conclude that because of some problems with some companies that you can't work with the state," Mbuyu told Reuters in an interview. A new oil code that will standardise agreements is awaiting parliamentary approval, he said. "We're asking for it to be done at the earliest possible opportunity," Mbuyu said, suggesting the end of March as a likely date. Three regions - Lake Albert, which borders Uganda in the east, Bas-Congo in the south, and the central basin - may between them hold several billion barrels of oil, he said. "We don't yet have precise studies, but it could mean the mining sector is nothing in comparison to oil," said Mbuyu. Congo, once a major producer of copper and cobalt, is trying to revive its mining industry, which despite years of underinvestment and mismanagement is still an economic backbone. "If all goes well we could have first (oil) production in three to four years," Mbuyu said. "There's potential everywhere. The problem now is to see how to exploit the value," said Mbuyu. "Betweeen 30 and 40 investors have come to see me since I became minister," he added. "Congo is open to all, but it's very complicated work - we have to go slowly and go together," he said. Mbuyu said he also wanted to ensure all of the country's 145 territories have a petrol station, up from about one third of them now. "Some territories have no roads and no petrol stations for hundreds of miles," he said. "We are discussing how to commercialise petrol stations." - Reuters Link to comment Share on other sites More sharing options...
vssmnn Posted March 21, 2010 Author Report Share Posted March 21, 2010 ROUGH MINING JUSTICE How First Quantum slowly but surely beats off the fixers, pushers, hoods and hucksters. Some of the world's more savage stock market stories are going to end up in jungle hostels packed with sadists. http://www.mineweb.com/mineweb/view/minewe...etail&pid=1 Link to comment Share on other sites More sharing options...
vssmnn Posted March 22, 2010 Author Report Share Posted March 22, 2010 !!! Canada-listed Banro, a DRC gold developer with a target 100,000 ounces of annual production by the end of 2011, is seen as modest value, with its 11m ounce resource. Banro is seen as the cheapest significant gold resource in Africa, trading at around USD 12.00 an ounce, compared to Moto's takeover metric of USD 30.00 an ounce. http://www.mineweb.co.za/mineweb/view/mine...etail&pid=1 Link to comment Share on other sites More sharing options...
vssmnn Posted March 23, 2010 Author Report Share Posted March 23, 2010 The next commodities king http://www.theglobeandmail.com/globe-inves...article1506472/ Link to comment Share on other sites More sharing options...
vssmnn Posted March 24, 2010 Author Report Share Posted March 24, 2010 Congo to open oil blocks on Lakes Tanganyika, Kivu http://af.reuters.com/article/investingNew...E62N0K020100324 KINSHASA (Reuters) - Democratic Republic of Congo will open 10 blocks on Lake Tanganyika and six blocks on Lake Kivu for oil exploration as it attracts interest from foreign energy firms, an energy ministry official said on Wednesday. The central African country, whose oil sector has been virtually paralysed since the 1970s by decades of corruption and conflict, will open the new offshore properties to bidding in April, Joseph Pili Pili, director of projects in Congo's oil ministry, told Reuters on the sidelines of a conference. "We know Lake Tanganyika has lots of petrol because it is the only one we've got lots of data for -- seismic, magnetic -- the geology has a lot of potential," he said. Foreign firms Chevron, Total, and CNOOC had already expressed interest in the blocks, he said. "We have to give these (blocks) to a big company because Lake Tanganyika is so deep, at 1,500 metres. It will need a lot of work," he said. The Lake Kivu blocks, meanwhile, could provide rich reserves of natural gas, he said. "There are 60 billion cubic metres of gas and each year it produces 350 million cubic metres," he said. "It is like you are sleeping in your bed and God just produces gas for you." Interest in Congo's oil potential has risen in recent months after big finds on the Ugandan side of Lake Albert. Oil majors Total and Eni have recently expressed interest in blocks on Congo's side of the lake, and several companies including Tullow are jostling for belated presidential decrees to ratify competing licenses. Despite its potential reserves, Congo barely registers among Africa's oil producers with just 25,000 barrels per day in output, all from French independent Perenco's operations in the southwest of the country. Link to comment Share on other sites More sharing options...
vssmnn Posted March 26, 2010 Author Report Share Posted March 26, 2010 AngloGold Ashanti consolidates in the Kilo Moto gold belts http://www.moneyweb.co.za/mw/view/mw/en/pa...&pid=287226 Link to comment Share on other sites More sharing options...
vssmnn Posted March 26, 2010 Author Report Share Posted March 26, 2010 Congo's Kabila heads to South Korea for deals http://www.forexyard.com/en/news/Congos-Ka...0-03-26T182127Z Link to comment Share on other sites More sharing options...
vssmnn Posted March 31, 2010 Author Report Share Posted March 31, 2010 Achievement of significant milestones - Kipoi Stage 1 development PERTH, Western Australia, March 31 /CNW/ - (ASX and TSX: TGS): Emerging Perth based copper producer Tiger Resources Limited ("Tiger" or the "Company") is pleased to announce the achievement of the following significant milestones as Tiger moves towards bringing the Stage 1 copper mining operation at Kipoi into production: - Granting of mining permit for development of Kipoi Central deposit by Minister of Mines. - Approval of environmental impact statement and environmental management plan. - Approval of Stage 1 development plan by Gecamines. - Financing arrangements for Stage 1 development on track and initial drawdown targeted for May 2010. Granting of Mining Permit and Approval of Environmental Report and Plan The Minister of Mines in the Democratic Republic of Congo (DRC) has approved the granting of a 30 year exploitation/mining permit allowing the development of the Kipoi Central deposit. The approval grants SEK sprl, the company holding the title to the Kipoi Project, the right to mine copper and cobalt and also, among other things, to construct the facilities and infrastructure required to exploit mines and market commercial products in accordance with the relevant legislation. Associated with the granting of the mining permit is approval by the Department Responsible for the Protection of Mining Environment (DPEM) (a department of the DRC Ministry of Mines) of the Environmental Impact Statement and Environmental Management Plan (EIS/EMPP) for the Stage 1 development project at Kipoi Central ("the Project"). The EIS/EMPP fulfils the key environmental permitting requirements. The Project now has the key mining licence and environmental approval to mine copper ore, and to produce and sell copper concentrate. This is a milestone achievement for the Company. Support of Gecamines of Stage 1 Development Plans The Company is also pleased to announce that Gecamines, the State owed mining company and partner in the Kipoi Project, has approved the Stage 1 development revised definitive feasibility study (RFDS) and given its support to development of the project. The support of the DRC Government and Gecamines, as key stakeholders in the Kipoi Project, represents a further major advance towards bringing the Project into production. Financing Arrangements The shareholders meeting to consider the project financing package to be provided by Trafigura Beheer B.V. (see announcement dated 13 November 2009) will be held on 21 April 2010. As previously advised, Nedbank Limited ("Nedbank") is acting as exclusive arranger of an Export Credit Insurance Corporation of South Africa Limited ("ECIC") supported US$16 million debt facility. Nedbank is currently finalising its due diligence review, which comprises reviews of various aspects of the planned development by Nedbank and by independent consulting groups, including detailed technical, legal, insurance and financial modelling analysis. The ECIC is also finalising its review and approvals processes. Snowden Mining Industry Consultants ("Snowden") has recently completed an Independent Technical Review of the Project. The review was commissioned by Nedbank Limited and forms a part of their due diligence process. Snowden concluded that the technical parameters of the Project are robust for mine development and construction of a heavy media separation (HMS) plant, and Snowden did not identify any significant issues which may prevent the Project continuing. Nedbank have advised that the next board meeting of the ECIC (being the first such meeting in 2010) is scheduled to be held on 15 April 2010. Tiger is targeting being in a position to commence drawing down funds from the proposed Nedbank senior and Trafigura subordinated debt facilities in May 2010. Development Timing Negotiations with mining contractors are at an advanced stage and key development personnel to supplement the Company's DRC team have been recruited. Subject to confirmation of the availability of the Trafigura and Nedbank funding the intention remains to start development and construction from June with first copper production expected towards the end of the year. Link to comment Share on other sites More sharing options...
vssmnn Posted March 31, 2010 Author Report Share Posted March 31, 2010 DRC aims to attract energy investment with oil code http://af.reuters.com/article/topNews/idAFJOE62U0OB20100331 Link to comment Share on other sites More sharing options...
vssmnn Posted March 31, 2010 Author Report Share Posted March 31, 2010 Zijin Mining Seeks Two ‘Major’ Overseas Acquisitions (Update1) http://www.bloomberg.com/apps/news?pid=206...id=aRv36OG9gVEw Zijin Mining is planning to increase investments as it has “sufficient cash and low debt,” Vice Chairman Lan Fusheng said Oct. 22. The company has spent $300 million in the past five years in eight overseas projects, and is looking at assets in Southeast Asia, Africa, Latin America and the Democratic Republic of Congo, he said. Link to comment Share on other sites More sharing options...
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