Market News

Rwanda's Ministry of Natural Resources has granted mining licences to 20 companies and co-operatives that are among the list of 29 approved by the Cabinet.   The 29 licences have a total value of Rwf7 billion ($9.4 million) spanning five years. They are the first to be issued under the new mi . . .

SNC-Lavalin has been awarded an engineering, procurement and construction management contract for a potash mine and processing facility in northeastern Ethiopia. The project is being developed by Norwegian chemical company, Yara International ASA and is located in the Dallol region of the East Af . . .

Zimbabwe resumed chrome exports last week for the first time since 2011 when Government imposed a ban of raw chrome exports to encourage beneficiation of the mineral.   The Government lifted the four-year ban on chrome ore exports in June this year to boost foreign earnings from the sector an . . .

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. . . .