Market News

NAMIBIA'S uranium production is expected to be three times the volume produced in 2015, according to statistics issued by finance minister Calle Schlettwein in parliament recently.   "We are of the opinion that, in spite of weak commodity prices and relatively slow growth in external demand, . . .

Redwing mine, a subsidiary of South Africa-based Metallon Gold is set to increase gold production after resuming operations following a de-flooding exercise, management has revealed.   Redwing mine stopped operations in 2008 after Zimbabwe Electricity Supply Authority (ZESA) cut power supplie . . .

Gold production for 2016 is forecast at 24 tonnes buoyed mainly expected increase from small scale miners. Small scale miners last year produced seven tonnes while big players produced 14 tonnes. The expected increase in production for small scale miners will be driven by $5 million worth of mining . . .

Caledonia Mining Corporation's annual gold production rose in 2015 despite work on a major upgrade at its 49 percent owned Zimbabwe mining unit, Blanket mine. Production at Blanket Mine for the year was 42 800 ounces against 41 800 ounces and all largely due to higher output in the fourth quarter of . . .

The Federal Government says its target is for the solid minerals sector to account for 10 per cent of the gross domestic product, GDP, in the nearest future.   The minister of Solid Minerals Development, Kayode Fayemi, said this aspiration informed the present administration's efforts to repo . . .