The World Bank would launch a US$1bn fund in July 2014 to map mineral resources of Africa, using satellites and airborne surveys, according to a report
Mining
West African Resources Limited acquires gold mining business in Burkina Faso
West African Resources Limited has announced that it has acquired Burkina Faso’s gold explorer Channel Resource Limited
Noble Group to loan Resource Generation US$65 million for coal project in South Africa
Hong Kong-based trader Noble Group has agreed to lend South African miner Resource Generation US$65mn to develop its Boikarabelo coal project in the country’s Waterberg area
UNDP sets up African Minerals Development Centre
The United Nations Development Programme (UNDP), in collaboration with some institutions, has launched the African Minerals Development Centre (AMDC), to aid with the sustainable development of the region’s extractive industry
Zimplats to start US$470 million mining project in Zimbabwe
Platinum mining company Zimplats has announced plans to close its Rukodzi mine in Zimbabwe and invest US$470mn in opening a new mine, to increase its capacity utilisation