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UK-based Sable Mining Africa has planned to raise US$27.5mn through a private placement of 180mn shares to help it develop the Nimba Iron Ore project in south-east Guinea
The De Beers Group has started construction on a new underground mine located beneath its open-pit Venetia diamond mine in the Limpopo province of South Africa
Oman-based investment company Anvwar Asian Investments and Australian iron ore developer Ferrum Crescent will be jointly developing an integrated iron ore mine along with a pelletising plant in South Africa
As part of the initiative, Anvwar Asian has signed a letter of intent (LoI) to acquire 35 per cent stake in the South African mining project from Ferrum Crescent, which currently owns the mine.
The project concept will be based on mining, crushing and separating in South Africa's Moonlight mining area, to produce concentrate, which will be pumped by slurry pipeline to Thambazimbi, some 220km away.
Ferrum Crescent managing director Robert Hair said, “We have 309mn tonnes of certified iron ore [deposit] with 27-28 per cent iron.”
The company has plans to manufacture six million tonnes of iron pellets per annum at Thambazimbi, with most of the product to be transported some 900km by rail to Richards Bay for exporting to overseas markets. Some product may be sold to local steel producers within South Africa.
Anvwar Asian Investment Group chairman Anvwar Al Balushi said iron pellets can be distributed to a great extent to the Middle East manufacturers of steel. He added that the company expects a huge demand for steel from China, India and from the Gulf Cooperation Council (GCC) region.
South African firm Continental Coal has said it will commence the Vaalbank coal exploration project in the Nkangala district of Mpumalanga with its joint venture partner Forzando Coal
South Africa-based Booyco Electronics has carried out field trials at a local gold mine for its biometric licensing system that is expected to improve the control and licensing process of underground machine operators