Market News

Shanta Mining Company Limited (SMCL), a subsidiary of the UK-based Shanta Gold Limited (AIM:SHG) involved with gold mining, development and exploration in Tanzania, has recently released the Life of Mine (LOM) extension study for its New Luika Gold Mine (NLGM) project which indicates new total reser . . .

Sunridge Gold shot up around 50% after it struck a US$65mln (C$85mln) cash deal to sell its majority stake in Asmara Mining, the joint venture company that owns the Asmara mine, in Eritrea. Michael Hopley, Sunridge chief executive, highlighted that the proposed deal is at a premium valuation. . . .

Kibo Mining‘s (LON:KIBO) focus is now to complete the financing for its Mbeya coal to power project in Tanzania, it said today. The group has signed a joint development agreement with Chinese firm SEPCO and during the quarter completed a pre-feasibility study on the mining component. &ld . . .

“We’ve had a tremendous amount of success,” says Davis. “We’ve drilled 400,000 metres. We’ve completed a full bankable feasibility study, and we did a full environmental impact assessment in 2013. Since that time it’s been all about the permitting.” . . .

The National Union of Mineworkers (NUM) today signed a collective agreement with Two Rivers Platinum Mine that will result in the speedy implementation of an Employee Share Ownership Plan (ESOP) aimed at attracting and retaining employees, and fulfil the employer's employment obligations to its empl . . .