West Africa-focused miner Avesoro Resources (AIM:ASO) has acquired two gold mines in Burkina Faso, adding to its New Liberty mine in Liberia and its Batouri license in Cameroon. The company will purchase the Youga and Balogo mines from its majority shareholder Avesoro Jersey in a cash...
Royal Dutch Shell’s Nigerian division has inked a US$300 million deal with Shoreline Energy to grow natural gas opportunities in Lagos. The Shell Petroleum Development Company Nigeria (SPDC) will develop gas pipeline infrastructure around Nigeria’s commercial capital in a deal which highlights the move from large...
Africa-focused gold miner Randgold Resources reported strong second quarter results, with revenue up 22% to US$336.8 million from $276.8 million a year earlier and gold production up 6% to 341,316 ounces. The encouraging results were driven by robust performances from its flagship mines, including the Loulo-Gounkoto...
Schlumberger has signed a US$700 million deal with the state-owned Nigerian oil company to develop two oilfields in the West African country. The world’s largest oilfield services companies will supply the services and capital, in partnership with Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration &...
Ashanti Gold Corp (TSXV:AGZ) has exercised its right to an earn in on Goldplat’s (AIM:GDP) Anumso gold project in Ghana. The Canadian miner will acquire an initial 51% in the West African project through expenditure of US$1.5 million over the first 18 months with an option...
Acacia Mining (LSE:ACA) has ended discussions with Canadian firm Endeavour Mining (TSE:EDV) regarding a US$3.7 billion merger deal. The news comes after Tanzania’s recent decision to impose a ban on gold and copper exports, which prompted both companies to postpone the merger talks. The merger was initially...
Perseus Mining (ASX,TSX:PRU) has secured a US$60 million debt finance facility from Macquarie Bank to be used to finance its growth strategy. The financing package include $40 million which will be used to fund completion of development at the Sissingué gold mine in the Ivory Coast. The...
Africa experienced a growth in mining deals of 62% year-on-year up to US$5.8 billion in 2016, according to an Ernst & Young report on mergers and acquisition deals. This significant growth in deals on the continent comes at odds with global M&A trends, as volumes fell...
Glencore (LSE:GLEN) increased its holding in Fleurette Properties subsidiaries with a US$960 acquisition announced yesterday. The multi-commodity miner purchased a further 31% stake in Mutanda Mining, bringing its interest to 100%, and an approximate 10.25% stake in Katanga Mining. Taking into account the various loans Glencore has...
Rev Matale and IGF Mining offer insights into African mining industry Reverend Suzanne Matale of Zambia spoke on the need for African governments to support mining projects for the advantage of its people. “Governments must put strong policies in place to ensure that people benefit from their...