Caracal Gold appoints new CFO, Kilimapesa gold operations General Manager

KENYA – East African gold producer Caracal Gold has appointed Riaan Lombard as General Manager of its Kenya-based Kilimapesa gold operations and Paul Reeves as group Chief Finance Officer effective as of February 1, 2022, reports Mining Weekly. Caracal Chief Executive  Robbie McCrae said these two key appointments will help bolster the Caracal team not only on the ground at the producing Kilimapesa gold mine, as the company advances it to the next phase…

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Anglo American appoints Duncan Wanblad as CEO to replace Mark Cutifani

SOUTH AFRICA – Mining company Anglo American has chosen a 54-year old South African, Duncan Wanblad, as the successor to outgoing CEO Mark Cutifani, who steps down in April 201 after nine years at the helm. Wanblad was appointed group director for strategy and business development at Anglo in 2016, and also served as CEO of its base metals business…

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Gold mining company Harmony approves US$623m to extend projects

SOUTH AFRICA – Harmony Gold Mining Company has unveiled a R9 billion (US$623 million) plan to extend several projects to drive long-term profitability as operations generated more cash on record bullion prices during the year to the end of Jun, according to IOL. Chief Executive Peter Steenkamp said that Harmony had approved the development of the R4.5 billion (US$311.4 million)…

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Red Rock starts drill program Kenya gold prospect

KENYA –  Natural resources development company Red Rock Resources, following recent receipts of all permits, is now beginning the 2,000 meters reverse circulation (RC) drill programme at the Central KKM gold prospect, the central part of the Mikei gold project (MGP) in Kenya. Hole depths are planned to be between 60 meters and 220 meters and there is a possibility of extending the drill programme, the company says.…

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China Molybdenum to invest US$2.5b to double copper, cobalt output at DRC mine

DRC – China Molybdenum Company says it would spend US$2.51 billion to roughly double production of copper and cobalt at its giant Tenke Fungurume mine in the Democratic Republic of Congo. The bumper investment comes as prices for both metals have jumped in 2021 amid a demand rebound from the Covid-19 pandemic. Copper is up 23% year to date on…

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Asante Gold to acquire Bibiani gold mine from Resolute Mining for US$90m

GHANA – Resolute Mining Ltd has announced that it has agreed to sell its Bibiani gold mine in Ghana to Asante Gold Corp. for US$90 million in cash. The company will receive an initial US$30 million payment, followed by another US$30 million on or before six months from the transaction close. The final US$30 million is set to come on…

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Zimbabwe sells gold refinery Fidelity Printers and Refiners for US$49m

ZIMBABWE – A total of ten companies will take control of Zimbabwe’s privatized gold refinery, Fidelity Printers and Refiners (FPR), for US$49 million, the country’s Finance minister Mthuli Ncube has said, reports Newsday. This will be the first time that the refinery will be in private hands since it was established in 1988. The sale, first announced in December 2020,…

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UK’s Caracal Gold Plc to list at the Nairobi Securities Exchange

KENYA – Caracal Gold Plc, a gold mining company, based in the UK, has picked Faida Investment Bank as its financial adviser and joint broker as it plans to do a Kshs 2 Billion (US$18.4 million) listing at the Nairobi Securities Exchange (NSE). Caracal Gold Plc listing at the Nairobi Bourse will make it only the second Company to have a dual…

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GoldStone Resources commences mining and ore stacking at the Homase mine

GHANA – GoldStone Resources has commenced mining and ore stacking at the Homase mine within its Akrokeri-Homase gold project (AKHM) in Ghana, with the first mined ore having been successfully stacked onto the heap leach pad. This follows the pre-stripping and clearing of the Homase mine site, which the company says is continuing to perform well. The daily mining rate…

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Mining company Gold Fields’ board gives green light to South Deep solar project

SOUTH AFRICA – the Board of Directors Gold Fields, one of the world’s largest gold mining firms, has given the green light for the construction of a 40MW solar plant at the South Deep mine in South Africa. The move follows the granting of a licence by the National Energy Regulator of South Africa on 25 February 2021. The 40MW…

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