Africa & Middle East

Shares in Alecto Minerals (LON:ALO) soared Monday after it announced it had struck a joint venture deal with Randgold Resources (LON:RRS) over the former's Kossanto West Gold Project in Western Mali. Once deal is completed, Randgold would fund all costs, including the completion of a pre-feasibility study.The company said the…
Africa-focused gold producer Randgold Resources (LON:RSS) said Monday its full-year profit from mining dropped by 11%, hit by a continued weakness in the prices metal, which lost about 10% of its value in 2015 for a third straight annual decline. The company said profit for the year ended Dec. 31…
The potential buyers of Orsu Metals Corporation’s Akdjol-Tokhtazan project in the Kyrgyz Republic have not exercised their option to purchase the project before the deadline of December 31. Consequently, the agreement has lapsed and ongoing discussions between the company and the potential buyers will continue on a non-exclusive basis. On…
CIMIC Group’s global mining contractor Thiess has been awarded a four-year contract extension by Energy Resources LLC at the Ukhaa Khudag (UHG) coal mine in Mongolia. The contract extension will deliver Thiess with up to $1 billion of revenue during the next seven years. Thiess mongoliaThe extension complements the current…
Dozens are missing and feared dead after a landslide struck a remote jade mining region in northern Myanmar on December 25. It was the second such incident to hit the country's jade industry in five weeks. The landslide occurred in Kachin state’s mining community of Hpakant. Kachin is home to…
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