Wednesday, September 24, 2014

First Quantum suspends Mauritania operations

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Africa News Digest
Thursday 25 September 2014
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Strike action closes Guelb Moghrein copper-gold mine which accounts for 10% of Vancouver company's copper output and a quarter of its gold production.

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Bubble chart shows heavy reliance on iron ore and oil for revenues and profits post demerger.

New company would still have its primary listing in Australia, with secondary listings in South Africa and the UK.

Not even the specter of a spillover of Islamic extremism from Somalia can dampen the atmosphere in Kenya, where commercial oil production is expected to begin in 2016 and discovery after discovery has made this the hottest and fastest-paced hydrocarbon scene on the continent.

Bridgette Radebe, chairwoman of Mmakau Mining and president of the South African Mining Development Association, is known for being one of Africa's first black female mine owners.

Fresh data suggests it is still too early to celebrate a recovery in the sector.

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Mali plans to boost funding opportunities for its artisanal miners and to improve the policing of a sector that produces about a third of the country's gold exports, officials said on Thursday at the start of a mining reform meeting.

"All that's required is to hand the world's best mining assets to the world's best management."

A large trade is betting that Gold Fields will hold firm for the next two months.

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