Search Results for "Gabon"

Apollo Minerals Bumps Exploration Target in Gabon

Apollo Minerals (ASX:AON) has updated its exploration target at its Kango North iron project in Gabon, to between 2 billion tonnes and 3.5 billion tonnes, grading 30 to 40 percent iron, Steel Guru reported.

As quoted in the market news:

This has potential for near surface DSO grade iron mineralisation, warranting drilling to test its potential as a quickly developed, low cost and high profitability iron ore mine.

Final planning is underway for a drilling program to define Stage 1 JORC resources as key input into a Pre Feasibility Study while advanced discussions are underway with a number of parties interested in co-funding the next stage of development.

Click here for the full report in Steel Guru


Gabon Reconsiders Belinga Iron Ore Mine

Reuters reported Gabon may not award its Belinga concession before 2014 as it reassessed how much iron ore the deposit contains.

As quoted in the market news:

China’s CMEC, which had secured rights to Belinga with a 2007 deal, lost the concession following concerns about the environmental impact of the project and then over whether CMEC would be able to deliver.

Click here to read the full Reuters report.

BHP May Win Iron Ore Mining Rights in Gabon

Bloomberg reported Gabon is close to handing over control of its largest iron ore mine to BHP Billiton Ltd. (NYSE:BHP,ASX:BHP).

As quoted in the market news:

Gabonese officials including Mines and Oil Minister Alexandre Barro Chambrier will meet executives of Melbourne- based BHP in Cape Town early next month to complete the deal, Michel Edzang, an official at the Mining Department and adviser to the minister, said in an interview in Libreville. A spokesman for BHP, the world’s biggest mining company, declined to comment.

Click here to read the full Bloomberg report.

JSPL Wins 5 Iron Ore Exploration Licenses

Business Standard reports that Jindal Steel and Power Ltd (BOM:532286) has secured five exploration licences for iron ore mining in African countries.

As quoted in the market news:

This has come at a time when iron ore mining is banned in India and the company wants security on the resource side.

“We have got exploration licences in Namibia, Gabon, Sierra Leone, Mauritania and one in South Africa. We have started testing to access the exact number of reserves. It will take about 12-18 months to finalise,” Ravi Uppal, managing director and chief executive, JSPL, told Business Standard in an interview.

Click here for the full Business Standard story

Waratah Youkou and Mekambo Iron Project Update

Mining Weekly reported Waratah Resources (ASX:WGO) reported an update on the Youkou and Mekambo-Est iron project on the border of Gabon and Congo.

As quoted in the market news:

In May, the company reported that X-ray fluorescent (XRF) testing and analysis indentified high-grade ore at the project site. This finding was confirmed following the drilling of 14 holes, totalling 698 m, in May.

The assay results of the seventh drill-hole showed high iron-ore content that included 66% iron, 0.089% phosphorus and 1.78% silicon, all at 20 m. Previous assay results of the hole at 26 m showed iron at 62%, using the portable XRF testing and analy- sis device.

Click here to read the full Mining Weekly report.