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Caledonia could triple money from Blanket expansion, external study suggests

Caledonia could triple money from Blanket expansion, external study suggests

Caledonia Mining’s plan to double output at its Blanket mine in Zimbabwe could pay back more than three times its cost, according to a new external study. Consultant Minxcon estimates a net present value for Blanket of US$147mln and an internal rate of return of 267% through the US$70mln expansion…

Caledonia Mining to double gold production by going deeper at Blanket

Caledonia Mining to double gold production by going deeper at Blanket

Caledonia Mining (LON:CMCL) intends to double production at its Blanket mine in Zimbabwe after a strategic review indicated expansion of the mine was the best use of its funds. The gold producer was considering expanding outside of Zimbabwe, but the review concluded the best potential returns lay with exploiting the…

Glencore unit suspends Zambia copper projects over withheld US$200m tax refund

Glencore unit suspends Zambia copper projects over withheld US$200m tax refund

Glencore-owned Mopani Copper Mines has suspended some of its planned $800 million Zambian copper mining projects after the government withheld $200 million in tax refunds, the company said on Wednesday. Africa’s second-largest copper producer is withholding a total of $600 million in VAT refunds owed to mining firms and will…

African Consolidated drops Dalny acquisition, but finds Pickstone partner

African Consolidated drops Dalny acquisition, but finds Pickstone partner

African Consolidated Resources had mixed news as it abandoned its acquisition of the Dalny Mine but found a partner for Pickstone-Peerless, both in Zimbabwe. The explorer could not raise the US$12mln needed as a pre-condition of its agreement to acquire Dalny in Zimbabwe, though termination of the agreement will see…

IMF to help Zimbabwe, welcomes international reengagement decision

IMF to help Zimbabwe, welcomes international reengagement decision

Zimbabwe’s economic growth has slowed down because of inadequate financial flows and the appreciation of the South African Rand, the currency of Zimbabwe’s major trading partner, the International Monetary Fund said. The Fund has also outlined a 15-month extensive programme aimed to address the challenges related to fiscal deficit, financial…

Premier African Minerals gets cash boost and hires environmental consultant

Premier African Minerals gets cash boost and hires environmental consultant

Premier African Minerals confirmed it has received a US$1mln payment from Circum Minerals and also announced the appointment of an environmental consultant for its RHA tungsten project. The US$1mln cash injection is the third tranche of proceeds from the sale of the Danakil potash project, and the company anticipates two…