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mining sector west africa

The Mining Sector in West Africa 2023

Alex Conradie | Benin; Burkina Faso; Cape Verde; Gambia; Ghana; Guinea; Guinea-Bissau; Ivory Coast; Liberia; Mali; Mauritania; Niger; Nigeria; Saint Helena; Senegal; Sierra Leone; Togo | 11 September 2023

The Mining Sector in West Africa 2020

Alex Conradie | Benin; Burkina Faso; Cape Verde; Gambia; Ghana; Guinea; Guinea-Bissau; Ivory Coast; Liberia; Mali; Mauritania; Niger; Nigeria; Saint Helena; Senegal; Sierra Leone; Togo | 20 November 2020

The Mining Sector in West Africa 2019

Alex Conradie | Benin; Burkina Faso; Cape Verde; Gambia; Ghana; Guinea; Guinea-Bissau; Ivory Coast; Liberia; Mali; Mauritania; Niger; Nigeria; Senegal; Sierra Leone; Togo | 21 January 2019

The Mining Sector in West Africa 2016

Alex Conradie | Burkina Faso; Cameroon; Congo; Gabon; Ghana; Guinea; Ivory Coast; Liberia; Mali; Mauritania; Niger; Nigeria; Senegal; Sierra Leone; Togo | 23 May 2016

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Report Coverage

This report covers mining in West Africa, including the countries comprising the Economic Community of West African States (Ecowas). It includes information on mining, exploration and deposits in each country, developments, notable players, corporate actions, trade and influencing factors such as the economic environment and security risks. There are profiles of companies mining in the region such as major global companies AngloGold Ashanti, ArcelorMittal, Barrick Gold, Newmont, Orano and Rusal, and regional Simfer, Marampa Mines, Leo Lithium and Firefinch.

Introduction

• West Africa contains known deposits of various minerals, and many more deposits are still to be discovered as the region is generally underexplored.
• Mineral production is growing, and dozens of companies are actively exploring the region due to increasing demand for gold and critical minerals needed for the energy transition, developed countries’ desire to reduce their dependence on China for many critical minerals, and China’s need for minerals to feed its manufacturing industries.
• Challenges include security risks, especially in Burkina Faso, southern Mali and western Niger, and a general lack of infrastructure.

Trends

• Artisanal and small scale mining forms a large part of the industry.
• Most gold mines are being constructed by junior and mid-tier companies.
• Numerous companies, especially Australian and Canadian, are exploring for minerals, mainly gold.

Opportunities

• Large iron ore deposits are available to be developed.
• Many countries are trying to develop their mining industries.
• Several countries are underexplored.
• West Africa contains deposits of various minerals, including critical minerals.

Challenges

• Due to a lack of infrastructure, mining companies are in some cases required to construct railways and ports to export their products, while inadequate and inconsistent electricity supply is also a challenge.
• Mining companies operating in Burkina Faso, southern Mali and western Niger are vulnerable to attacks by militants.

Outlook

• The World Bank expects prices of most minerals to decline in 2023 due to weaker demand and ample supply.
• Critical minerals will be the exception as the global energy transition advances.
• West Africa’s gold production is expected to increase due to the commissioning of new mines and expansions at existing mines.
• Guinea’s bauxite production is expected to increase from 2023 to 2025, while aluminium prices are expected to decrease in 2023 before rising in 2024 and 2025.
• The region’s mining industry is expected to grow over the next few years due to higher production and prices, as several bauxite, gold and iron ore deposits, and a few graphite, lithium and uranium deposits are developed.

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The Mining Sector in West Africa
The Mining Sector in West Africa 2023

Full Report

R 20 000.00(ZAR) estimated $1085.77 (USD)*

Industry Landscape

R 14 000.00(ZAR) estimated $ 760.04 (USD)*

Historical Reports

The Mining Sector in West Africa 2020-11-20

R 1 900.00(ZAR) estimated $103.33 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2019-01-21

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2016-05-23

R 1 900.00(ZAR) estimated $103.15 (USD)*

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Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. REGION INFORMATION 1
3. DESCRIPTION OF THE INDUSTRY 3
3.1. Industry Value Chain 8
3.2. Geographic Position 9
3.3. Size of the Industry 17
4. LOCAL 20
4.1. State of the Industry 20
4.2. Key Trends 24
4.3. Key Issues 25
4.4. Notable Players 25
4.5. Trade 31
4.6. Corporate Actions 33
4.7. Regulations 38
4.8. Enterprise Development and Social Development 39
5. AFRICA 40
6. INTERNATIONAL 42
7. INFLUENCING FACTORS 45
7.1. Economic Environment 45
7.2. Lack of Infrastructure 46
7.3. Security Risks 47
7.4. Labour 47
7.5. Environmental Issues 49
7.6. Input Costs 50
7.7. Government Support 50
7.8. Technology, R&D and Innovation 51
7.9. Unforeseen Events 51
8. COMPETITIVE ENVIRONMENT 51
8.1. Competition 51
8.2. Ownership Structure of the Industry 51
8.3. Barriers to Entry 52
9. INDUSTRY SUMMARY 52
10. OUTLOOK 53
11. INDUSTRY ASSOCIATIONS 53
12. REFERENCES 53
12.1. Publications 53
12.2. Websites 54
APPENDIX 1 - SUMMARY OF NOTABLE PLAYERS 56
Exploration & Development and Mining Companies in West Africa 56
COMPANY PROFILES 63
AngloGold Ashanti Ltd 63
ArcelorMittal Liberia Ltd 69
Asante Gold Corporation 71
B2Gold Corporation 74
Barrick Gold Corporation 78
Endeavour Mining PLC 83
Firefinch Ltd 89
Fortuna Silver Mines Inc 91
Gold Fields Ghana Ltd 94
GoldStone Resources Ltd 97
Hummingbird Resources PLC 100
IAMGOLD Corporation 104
Leo Lithium Ltd 109
Managem S.A. 111
Marampa Mines Ltd 115
Newmont Ghana Gold Ltd 117
Orano S.A. 120
Orezone Gold Corporation 125
SIMFER S.A. 127
Societe des Mines de Fer de Guinee SA 128
Societe Miniere de Boke 130
Societe Miniere de DASA S.A. 132
Thor Explorations Ltd 134
Tietto Minerals Ltd 137
United Company RUSAL, International Public Joint-Stock Company 139
Western Cluster Ltd 145

Report Coverage

This report focuses on Mining in West Africa and includes information on mining resources and production across the region, trade statistics, developments, corporate actions, pertinent regulation and other influencing factors. There are profiles of 42 companies including major players such as Aluminium Corporation of China, Barrick Gold, and Newmont Mining, as well as AngloGold Ashanti, which restarted production at its Obuasi mine in Ghana, five years after mining was suspended, and Canadian company Iamgold, which has received the mining permit for its Boto gold project in Senegal.

Introduction

The latest World Mineral Production report of the British Geological Survey (BGS) indicates that in 2018, West Africa supplied 19.2% of the world’s bauxite, 16.8% of its rutile (titanium oxide), 10.7% of its gold, and 10.1% of its manganese. In 2019, West African countries exported minerals worth US$5.1bn, which is a year-on-year increase of 20.4%, according to the International Trade Centre’s Trade Map. Factors such as low economic growth in major mineral importers, the impact of the coronavirus pandemic, inadequate infrastructure, and security risks in some countries, continue to have an impact on the performance of West Africa’s mining sector.

Strengths

• An important producer of bauxite, gold, manganese and rutile.
• Many large mining companies are present.
• The region’s gold deposits are generally shallow, which means they can be mined easily and at relatively low costs.
• West Africa is an established mining region.

Weaknesses

• Artisanal mining is often associated with smuggling, revenue loss, child labour, human rights abuse, and environmental and health and safety concerns.
• General lack of skilled employees.

Opportunities

• Large bauxite, gold and iron ore deposits are available to be developed.
• Many countries are trying to develop their mining sectors.
• Several countries are underexplored.

Threats

• Lack of infrastructure, especially roads and electricity in rural areas.
• Low economic growth in major mineral importers.
• Security risks in some areas.
• The impact of the coronavirus pandemic on demand for minerals.

Outlook

According to the latest Resources and Energy Quarterly report, Guinea’s bauxite production is forecast to increase at an average rate of 9% per annum in 2021 and 2022. The report forecasts global iron ore consumption will be higher in 2020 than in 2019, and even higher in 2021 and 2022. Global gold demand is expected to be lower in 2020 than in 2019, but increase in 2021 and 2022. Demand for West Africa’s major minerals is therefore expected to increase over the next two years, leading to higher production and mining revenues in the region. Several bauxite, gold and iron ore deposits in West Africa are expected to be developed over the next few years.

Read More..
The Mining Sector in West Africa
The Mining Sector in West Africa 2020

Full Report

R 1 900.00(ZAR) estimated $103.15 (USD)*

Industry Landscape

R 1 330.00(ZAR) estimated $ 72.20 (USD)*

Historical Reports

The Mining Sector in West Africa 2023-09-11

R 20 000.00(ZAR) estimated $1087.65 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2019-01-21

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2016-05-23

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. REGION INFORMATION 1
3. DESCRIPTION OF THE INDUSTRY 3
3.1. Geographic Position 7
3.2. Industry Value Chain 13
4. SIZE OF THE INDUSTRY 14
5. STATE OF THE INDUSTRY 17
5.1. Local 17
5.1.1. Trade 22
5.1.2. Corporate Actions 26
5.1.3. Regulations 32
5.2. Continental 35
5.3. International 36
6. INFLUENCING FACTORS 37
6.1. Economic Environment 37
6.2. Coronavirus 38
6.3. Government Involvement 39
6.4. Lack of Infrastructure 40
6.5. Security Risks 40
6.6. Labour Resources 42
6.7. Environmental Concerns 43
6.8. Technology, Research and Development (R&D) and Innovation 44
7. COMPETITION 44
7.1. Barriers to Entry 44
8. SWOT ANALYSIS 45
9. OUTLOOK 46
10. INDUSTRY ASSOCIATIONS 46
11. REFERENCES 46
11.1. Publications 46
11.2. Websites 47
APPENDIX 1 49
Notable Exploration & Development and Mining Companies Involved in West Africa 49
COMPANY PROFILES 58
ABOSSO GOLDFIELDS LTD 58
ALLIANCE MINIERE RESPONSABLE SAS 60
ALUMINUM CORPORATION OF CHINA LTD 62
AMR GOLD LTD 67
ANGLOGOLD ASHANTI LTD 69
AVESORO RESOURCES INC. 75
B2GOLD CORP 78
BALAJI GROUP OF COMPANIES 83
BARRICK GOLD CORPORATION 86
COMPAGNIE DES BAUXITES DE GUINEE 91
COMPAGNIE DES BAUXITES DE KINDIA S.A. 93
ENDEAVOUR MINING CORPORATION 94
GHANA BAUXITE COMPANY LTD 98
GHANA MANGANESE COMPANY LTD 100
GOLD FIELDS GHANA LTD 102
GOLDEN STAR RESOURCES LTD 104
GUINEA ALUMINA CORPORATION S.A. 107
GUINEENNE DES MINES 110
HUMMINGBIRD RESOURCES PLC 112
IAMGOLD CORPORATION 116
KERAS RESOURCES PLC 121
KINROSS GOLD CORPORATION 124
KOIDU LTD 128
MULTIVERSE MINING AND EXPLORATION PLC 130
NEWFIELD RESOURCES LTD 132
NEWMONT GHANA GOLD LTD 135
NORD GOLD S.E. 138
ORANO S.A. 141
PERSEUS MINING (GHANA) LTD 145
RESOLUTE MINING LTD 148
ROXGOLD INC. 153
SHILOH MANGANESE S.A. 156
SIERRA MINERAL HOLDINGS 1 LTD 158
SIERRA RUTILE LTD 160
SOCIETE DES MINES DU LIPTAKO S.A. 163
SOCIETE MINIERE DE BOKE 165
TERANGA GOLD (AUSTRALIA) PTY LTD 167
THOR EXPLORATIONS LTD 170
TREVALI MINING CORPORATION 172
UNITED COMPANY RUSAL, INTERNATIONAL PUBLIC JOINT-STOCK COMPANY 175
VEDANTA RESOURCES LTD 180
WEST AFRICAN RESOURCES LTD 184

Report Coverage

This report on Mining in West Africa provides a comprehensive analysis of mining conditions, products and opportunities in West Africa. It includes reports on 36 companies such as AngloGold Ashanti, which plans to spend US$500m to reopen its Obuasi gold mine in Ghana , Societe Miniere de Boke, which signed agreements with Guinea to construct a railway, aluminium refinery and new bauxite mines that will cost US$3bn, Chalco, which is developing its US$500m Boffa bauxite mine in Guinea and Perseus Mining, which achieved commercial production at its US$107m Sissingue gold mine in Ivory Coast.

Introduction

The World Mineral Production report indicates that during 2016, West Africa supplied 22.6% of the world’s rutile (titanium oxide), 11.5% of its bauxite, 9.4% of its gold and 5.6% of its uranium. In 2017 West African countries exported minerals worth US$16.1bn, which is a year-on-year increase of 26.3%, according to the International Trade Centre’s (ITC) Trade Map. Factors such as a lack of infrastructure, and, in some countries, the security situation, continue to have an impact on the performance of West Africa’s mining sector.

Strengths

• An important producer of bauxite, rutile, gold and uranium.
• West Africa is an established mining region.

Weaknesses

• Shortage of skills.

Opportunities

• Increasing commodity prices.
• Many countries are trying to boost their mining sectors.
• Several countries are underexplored.

Threats

• Lack of infrastructure, especially roads and electricity in rural areas.
• Rising input costs.
• Security risks in some areas.

Outlook

Analysts state that several countries in West Africa are underexplored, including Burkina Faso, Guinea, Mali and Nigeria. The West Africa Economic Outlook report indicates that commodity prices are expected to continue their recovery due to higher global demand, leading to higher levels of mineral exploration and exploitation in the region. It is therefore expected that West Africa will experience increased investment in its mining sector, especially in the countries listed above.

Read More..
The Mining Sector in West Africa
The Mining Sector in West Africa 2019

Full Report

R 1 900.00(ZAR) estimated $103.15 (USD)*

Industry Landscape

R 1 330.00(ZAR) estimated $ 72.20 (USD)*

Historical Reports

The Mining Sector in West Africa 2023-09-11

R 20 000.00(ZAR) estimated $1087.65 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2020-11-20

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2016-05-23

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. REGION INFORMATION 1
3. DESCRIPTION OF THE INDUSTRY 3
3.1. Geographic Position 7
3.2. Industry Value Chain 13
4. SIZE OF THE INDUSTRY 14
5. STATE OF THE INDUSTRY 17
5.1. Local 17
5.1.1. Trade 21
5.1.2. Corporate Actions 25
5.1.3. Regulations 29
5.2. Continental 32
5.3. International 33
6. INFLUENCING FACTORS 35
6.1. Economic Environment 35
6.2. Government Involvement 35
6.3. Lack of Infrastructure 37
6.4. Security Risks 37
6.5. Environmental Concerns 38
6.6. Labour Resources 38
6.7. Technology, Research and Development (R&D) and Innovation 40
7. COMPETITION 41
7.1. Barriers to Entry 41
8. SWOT ANALYSIS 42
9. OUTLOOK 42
10. INDUSTRY ASSOCIATIONS 42
11. REFERENCES 43
11.1. Publications 43
11.2. Websites 43
APPENDIX 1 45
Summary of Notable Players 45
COMPANY PROFILES 51
ABOSSO GOLDFIELDS LTD 51
ACACIA MINING PLC 53
ALLIANCE MINIERE RESPONSABLE SAS 58
ALUMINIUM CORPORATION OF CHINA LTD 60
AMR GOLD LTD 63
ANGLOGOLD ASHANTI LTD 65
AVENIRA LTD 72
AVESORO RESOURCES INC. 74
B2GOLD CORP 77
BALAJI GROUP OF COMPANIES 81
GHANA MANGANESE COMPANY LTD 84
GOLD FIELDS GHANA LTD 86
GOLDEN STAR RESOURCES LTD 88
GUINEA ALUMINA CORPORATION LTD 91
GUINEENNE DES MINES 93
HUMMINGBIRD RESOURCES PLC 94
KERAS RESOURCES PLC 97
KINROSS GOLD CORPORATION 100
KOIDU LTD 104
MULTIVERSE MINING AND EXPLORATION PLC 106
NEWFIELD RESOURCES LTD 108
NEWMONT GHANA GOLD LTD 110
NORD GOLD S.E. 112
PERSEUS MINING (GHANA) LTD 115
RANDGOLD RESOURCES LTD 117
RESOLUTE MINING LTD 123
ROXGOLD INC 127
SEMAFO INC 130
SHILOH MANGANESE S.A. 133
SIERRA RUTILE LTD 135
SOCIETE DES MINES DU LIPTAKO (SML) S.A. 137
SOCIETE MINIERE DE BOKE 139
TREVALI MINING CORPORATION 141
UNITED COMPANY RUSAL PLC 144
VEDANTA RESOURCES PLC 148
WEST AFRICAN RESOURCES LTD 152

Report Coverage

Mining in West Africa describes recent events in the regional mining sector, generic and country-specific regulations and the impact of the reduction in commodity prices. Investments into the mining sector and other corporate actions are listed, and factors influencing the success of the industry are discussed. The report profiles 55 mining companies including ERAMET, through its subsidiary Comilog, which is the second-largest producer of high-grade manganese ore in the world, and Areva which produced 1,988t of uranium in Niger. Also profiled are Ghanaian miner, Abosso Goldfields Ltd and Bellzone Mining Plc, which mines iron ore in Guinea where it is currently involved in exploration for copper, nickel, cobalt, manganese, chrome and platinum.

Introduction

This report focuses on the mining sector in West Africa. An extensive established mining industry already exists in West Africa, with the region supplying 10% of the world’s manganese ore, 9% of its gold, 8% of its bauxite and 7% of its uranium during 2014. In the light of forecasts by the International Monetary Fund (IMF) of overall growth of more than 5% per annum in West Africa over the next three years, and significant volumes of unexploited mineral resources including iron ore, gold and uranium, West Africa is viewed as an area filled with mining potential. However, risks are present in the form of political instability and conflict, and electricity shortages are commonplace.

Strengths

• An extensive established mining industry already exists in West Africa.
• Significant volumes of unexploited mineral resources throughout the region.
• The mining sector has been identified as a potential catalyst for economic development and there has been a determined effort through the AMV to attract foreign direct investment.

Weaknesses

• Mining companies have to operate in areas where infrastructure is poor and conditions are harsh.
• Mining companies often do not work together to develop infrastructure.
• Shortage of skills.

Opportunities

• Expansion through joint ventures between junior exploration companies and mid-tier and major miners.
• Exploration projects which point to potentially large, high-grade deposits of iron ore, gold, uranium and other sought-after minerals in the region.
• Many countries’, and especially Nigeria’s, efforts to boost the mineral sector in order to decrease reliance on oil exports.
• Predicted growth of more than 5% per annum in West Africa over the next three years.

Threats

• A further slowdown in global commodity prices, which could lead to the postponement of exploration and mining projects in an attempt to control costs and improve margins.
• Increasing financial constraints of global majors who are under pressure from investors to pull away from capital-intensive projects and focus on ventures in more established, less risky regions.
• Increasing security risks and conflict in the region.
• Political instability and regulatory uncertainties which could lead to renegotiation or cancellation of contracts and concessions.

Outlook

The slowdown in global commodity prices is having a huge impact on the mining sector, especially the iron ore mining sub-sector, in West Africa. However, the high level of exploration activity and the many new mines that are being developed in other sub-sectors, notably gold and bauxite, indicate that foreign investment in the region’s mining sector is continuing, despite the security risks, political instability and lack of infrastructure. Many companies are investing in exploration and mine development in order to take full advantage of the next commodities boom. It is therefore expected that West Africa will experience increased foreign investment in its mining sector when commodity prices improve, due to global demand for the region’s mineral resources. If properly exploited, West Africa’s mineral resources would underpin economic development, which could transform the prospects of West African nations.

Read More..
The Mining Sector in West Africa
The Mining Sector in West Africa 2016

Full Report

R 1 900.00(ZAR) estimated $103.33 (USD)*

Industry Landscape

R 1 330.00(ZAR) estimated $ 72.20 (USD)*

Historical Reports

The Mining Sector in West Africa 2023-09-11

R 20 000.00(ZAR) estimated $1087.65 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2020-11-20

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

The Mining Sector in West Africa 2019-01-21

R 1 900.00(ZAR) estimated $103.15 (USD)*

View Report Add to Cart

Table of Contents

[ Close ]
PAGE
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Industry Value Chain 5
3. SIZE OF THE INDUSTRY 6
4. STATE OF THE INDUSTRY 18
4.1. Local 18
4.1.1. Corporate Actions 26
4.1.2. Regulations 29
4.2. Continental 33
4.3. International 33
5. INFLUENCING FACTORS 34
5.1. Economic Environment 34
5.2. Lack of Infrastructure 35
5.3. Security Risks and Political Instability 36
5.4. Environmental Concerns 38
5.5. Labour Resources 39
5.6. Technology, Research and Development (R&D) and Innovation 40
6. COMPETITION 40
6.1. Barriers to Entry 40
7. SWOT ANALYSIS 41
8. OUTLOOK 42
9. INDUSTRY ASSOCIATIONS 42
10. REFERENCES 43
10.1. Publications 43
10.2. Websites 44
COMPANY PROFILES 46
Abosso Goldfields Ltd 46
African Gold Group Inc 48
Alufer Mining Ltd 51
AMR Gold Ltd 53
AngloGold Ashanti Ltd 55
Arcelormittal Liberia Ltd 61
Areva SA 63
Asanko Gold Inc 66
Avocet Mining Plc 70
Azumah Resources Ltd 74
B2Gold Corporation 77
Baomahun Gold Ltd 80
Bellzone Mining Plc 82
Cam Iron SA 85
Cameroon Alumina Ltd 87
Cavalla Resources Ltd 89
Centamin Plc 91
Compagnie des Bauxites de Guinee 95
Endeavour Mining Corporation 97
ERAMET SA 101
Eta-Zuma Group Ltd 105
First Quantum Minerals Ltd 107
Glencore Plc 110
Great Quest Fertilizer Ltd 119
Gryphon Minerals Ltd 122
Hummingbird Resources Plc 126
Industries Chimiques du Senegal SA 129
Keras Resources Plc 132
Kogi Iron Ltd 135
Komet Resources Inc 138
MagIndustries Corporation 140
Managem SA 142
Mineral Deposits Ltd 145
MNG Gold AS 149
Newcrest Mining Ltd 151
Pan African Gold and Minerals (Pty) Ltd 155
Predictive Discovery Ltd 157
Randgold Resources Ltd 160
Robex Resources Inc 166
Royal Salt Ltd 168
Sable Mining Africa Ltd 169
Sarama Resources Ltd 172
Severstal OAO 175
Shandong Iron and Steel Group Co Ltd 179
Sierra Mineral Holdings 1 Ltd 181
Sierra Rutile Ltd 183
Societe Nationale Industrielle et Miniere SA 186
Societe Nouvelle des Phosphates du Togo 189
Stellar Diamonds Plc 190
Taurus Gold Ltd 193
Tolsa SA 195
Toro Gold Ltd 197
TrueGold Mining Inc 201
Vedanta Resources Plc 204
West African Resources Ltd 210