Congo lifts export ban on Glencore’s copper and cobalt unit

Reuters reports Zambia has lifted a ban on metal exports just two days after imposing it to sort out revenue collection and increase transparency in Africa's top copper producer, a minerals ministry official said on Thursday. It's good news for the Zambian mining sector – a lengthy suspension could have further pressured mines already dealing with volatile metal prices in recent weeks. Newly elected President Michael Sata has been concerned – analysts say with good reason – about copper exporters misreporting the amount of ore leaving Zambia, and earlier this week suspended export permits, to put new guidelines in place. Cobalt, gold and nickel also fell under the ban and now all export payments need to be routed via the central bank.

Metorex Limited (JNB:MEMTX) reached a new high in quarterly copper output, with production rising by 15% to 15,202 tons. Cobalt output rose by 11% to 942 tons.

A Chinese company has made another bid to secure iron ore and other metals beyond its borders. On Tuesday Hanlong Mining said it will buy Perth-based Sundance Resources for US$1.57 billion. AFP reported that Hanlong will acquire Sundance through a scheme of arrangement, after lifting its offer to 57 cents cash per share from 50 cents back in July.

Vale SA will likely hand over 35% of its Simandou iron ore project to Guinea. The Wall Street Journal (sub required) is reporting that Vale, one of the top three producers of iron ore, is working on an accord whereby the company concedes 35% of the Simandou project to the Guinean government. The accord falls in line with the country' new mining laws, which allow the government to increase its stake in mining projects from 15% to 35%.

Minmetal Resources bought Anvil Mining for $1.3 billion, representing a 30% premium over Anvil Mining's average share price. The Anvil Board has unanimously approved the offer. Anvil's key asset is the Kinsevere mine, located in the Democratic Republic of Congo. Minmetal says its annual copper output will grow by 60,000 tonnes per year, an increase of 60%. The mine is expected to have about a 14 year life.

The Zimbabwe Guardian reports that at least 137 mining companies are risking losing their mining licences for refusing to comply with the country's new indigenization regulations. Affected companies include Anglo-American, Murowa Diamonds and Metallon Gold, according to the newspaper, which notes that 38 companies have complied. The government of Zimbabwe, the country with the largest platinum reserves outside number one producer South Africa, is demanding 51% of all foreign-owned mines operating in the country under its so-called indigenization laws.

In yet another buying spree, China is going after another African copper producing firm to acquire its abundant copper production. Minmetals Resources Ltd. of China is poised to buy Anvil Mining of Congo for $1.31 billion to secure copper mine production output in Africa amid the recent fall of the commodity's prices in the world market.

Central Rand Gold (JNB:CRD) is seeking help from the Pretoria High Court to keep operating after its mining license was set aside by the South African Department of Mineral Resources. On Monday Central Rand Gold, a company focused on gold prospecting and mining in the Central Rand Goldfield of South Africa, learned its mining license would be cancelled because it failed to carry through with various environmental and labour guidelines.

Johannesburg. Tuesday, 27 September 2011. Harmony Gold Mining Company Limited (Harmony) regrets to advise that following an ore pass accident and subsequent rescue efforts, an employee and two members of an external rescue team were fatally injured yesterday at its Evander mine in Mpumalanga. Investigations are currently underway to establish the causes of the accidents. Operations at the mine have been stopped until investigations have been completed