Energy & Mining – Industry News

SEMAFO Sells Its Interest in the Samira Hill Mine in Niger, Posted on Market Watch

MONTREAL, QUEBEC, Dec 02, 2013 (Marketwired via COMTEX) — SEMAFO Inc. CA:SMF -1.61% (omx:SMF) today announced the closing of the sale of its 80% interest in Societe des Mines du Liptako S.A. (“SML”) to Societe de Patrimoine des Mines du Niger S.A.(“SOPAMIN”). African GeoMin Mining Development Corporation Limited (“AGMDC”), a wholly-owned indirect subsidiary of SEMAFO, sold to SOPAMIN its 80% interest in SML, owner of the Samira Hill mine in Niger, as well as its exploration permits. [Read More…]  

Middle Island Resources to pursue further West African gold prospects despite failure to gain majority interest in Niger gold mine, By Chantelle Kotze, Posted on MiningWeekly.com

Despite failing to secure a majority interest in the Samira Hill gold mine, in Niger, ASX-listed Middle Island Resources’ board plans to focus on pursuing other projects to increase shareholder value, as well as to advance the company’s existing gold projects in West Africa. Mining Weekly reported last month that the acquisition agreement with TSX-listed and West African-focused gold producer Semafo, over the Samira Hill pro- ject, lapsed at the start of October, prompting Middle Island Resources to re-enter negotiations with the Niger government to secure government support for the acquisition. [Read More…]  

Proactive weekly mining news summary including Kefi Minerals, Bushveld Minerals, West African Minerals and Hummingbird Resources, Posted on Proactive Investors

There was a large offering of small cap mining news this week, including from Kefi Minerals (LON:KEFI). It marked off another step in its rapid exploration at the Jibal Qutman project in Saudi Arabia – with a resource upgrade. The new JORC estimate for total indicated and inferred resources now stands at 17.7 million tonnes at 0.84 grams per tonne (g/t) gold for 480,000 ounces of the yellow metal. Importantly, of that, 77% of material has now been lifted into the higher confidence indicated category. [Read More…]  

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