Regional News - Africa - April 2017

Trevali Buying Glencore Interests in Rosh Pinah, Perkoa

Trevali Mining has entered into definitive agreements with Glencore PLC and certain of its subsidiaries to acquire a portfolio of zinc assets from Glencore, including an 80% interest in the Rosh Pinah mine in Namibia, a 90% interest in the Perkoa mine in Burkina Faso, an effective 39% interest in the Gergarub project in Namibia, an option to acquire 100% interest in the Heath Steele property in Canada, and certain related exploration properties and assets for an aggregate purchase price of approximately $400 million.

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Teck Sells Interest in Haib to Deep-South Resources

Teck Resources Ltd. announced it has entered into a definitive agreement to sell its 70% interest in Haib Minerals Ltd. to Deep-South Resources Inc., who holds the remaining 30% interest in Haib. Haib holds a 100% interest in the Haib copper project located in Namibia.

As part of the consideration under the sales agreement, Teck will receive 13.6 million common shares of Deep-South at closing. The shares issued on closing, together with the 4.17 million common shares currently held by Teck, will result in Teck holding approximately 35% of Deep-South’s outstanding shares on an undiluted basis.

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Regional News - Africa - March 2017

B2Gold Targeting October Production Start at Fekola

B2Gold reported that construction of its Fekola gold mine in southwest Mali is ahead of schedule and now on target for an October production start. The company completed a revised geological resource model for Fekola in the third quarter of 2016, followed by updates to open-pit mine designs and production plans that reflect an increase in planned mill capacity to 5 million metric tons per year (mt/y). Based on these production plans, B2Gold now expects Fekola to produce an average of 375,000 to 400,000 ounces per year (oz/y) during its first five years of production from 2018 through 2022.

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Glencore Purchases Stakes in Mutanda and Katanga

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Glencore has purchased the Fleurette group’s remaining 31% stake in Mutanda Mining Sarl for $922 million and a 10.25% stake in Katanga Mining Ltd. for $38 million. Fleurette and its affiliates owe outstanding loans to the Glencore group over the Mutanda shares, amounting to $556 million, of which $120 million comprises accrued interest. In addition, Glencore has acquired shareholder loans owed to the Fleurette group by Mutanda Mining Sarl of $130 million. Accordingly, the aggregate cash consideration payable by the Glencore group is $534 million.

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Asanko Gold Receives Key Permits for Expansion

Asanko Gold has received both the environmental permit and the mine operating permit required for an expansion of production at its Asanko gold operations in southwest Ghana. Current open-pit mining and processing operations reached commercial production in April 2016. Plant throughput capacity is 3.6 million mt/y, and gold production capacity is 190,000 oz/y.

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Anglo Sells Union Mine to Siyanda Resources

American Platinum has agreed to sell its 85% interest in the Union mine in South Africa and 50.1% interest in MASA Chrome Co. to a subsidiary of Siyanda Resources. Anglo American Platinum will retain the Mortimer smelter operation.

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AFRICA - JANUARY 2017

Ivanhoe Looking at Multiple Options for Kamoa-Kakula • Zimplats Developing $264M Mupani Mine

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AFRICA - December 2016

Gold Fields Extending Mine Life at Damang • 2017 Looks to Be Worse for South Africa • Golden Star Receives Mining Lease for Mampon Deposit

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