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Zimbabwe mines output threatened by foreign payment delays

Zimbabwe mines output threatened by foreign payment delays

Zimbabwe’s mining output is under threat because banks are delaying processing foreign payments by up to three months due to a shortage of dollars, the southern African country’s mining chamber warned on Monday. Mining generates more than half of Zimbabwe’s foreign exchange and should be given priority by the central…

Acacia Mining and Endeavour merger could be “compelling” – analyst

Acacia Mining and Endeavour merger could be “compelling” – analyst

The proposed combination of Acacia Mining Plc (LON:ACA) and Endeavour Mining Corp (TSE:EDV) is a “compelling opportunity”, according to analysts at Deutsche Bank. Discussions were confirmed on Friday 13 January 2017 afternoon after the market in London had closed. In a brief regulatory statement, Acacia said that it was in…

Vast Resources set for increased gold production in Zimbabwe

Vast Resources set for increased gold production in Zimbabwe

Aim-listed mining company Vast Resources has seen gold production at its Pickstone-Peerless mine, in Zimbabwe, increase 75% in the six months ended September 30, to 9 452 oz. CEO Roy Pitchford on Tuesday said that production at the mine consistently surpassed expectations, having reliably exceeded 20 000 t/m of ore.…

Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa (LON:MWA) has told investors that non-executive director Ning Yat Hoi and China International Mining Group Corporation (CIMGC) have disposed of around half their shareholdings. In a stock market statement Mwana said that Ning and CIMGC had sold 81.4mln and 106.2mln shares respectively at a price of 1.8p per…

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa (LON:MWA) made steady progress at its gold, nickel and diamond producing assets in the first quarter of 2015. At the Freda Rebecca gold mine in Zimbabwe, gold production increased quarter-on-quarter by 0.42% to 14,358 ounces, as the recovery rate increased to 83% from 78%. The need to work…

Caledonia Mining continues churning out dividends

Caledonia Mining continues churning out dividends

Caledonia Mining Corporation (LON:CMCL) continues to belie the reputation of AIM-listed mining companies by churning out the dividends. The Canadian company has declared its sixth quarterly dividend, worth 1.5 Canadian cents per share. The ex-dividend date will be April 16, 2015 and for those shareholders who still receive their divis…

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