Axmin Inc.

Published : August 22nd, 2014

Rebel-held mine collapses in Central African Republic, killing 25

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Keywords :   Canada | Collapse | Gold | Gold Mine | Market | Muslim | Sudan |

Rebel-held mine collapses in Central African Republic, killing 25

* Ndassima mine owned by Canada's Axmin

* New U.N. force to deploy from next month (Updates with formation of interim government)

By Crispin Dembassa-Kette

BANGUI, Aug 22 (Reuters) - At least 25 people died when a gold mine collapsed near the Central African Republic town of Bambari, a spokesman for the mainly Muslim Seleka rebels which run the mine said on Friday.

The mine at Ndassima is carved deep into a forested hilltop about 60 kilometres (40 miles) north of Seleka's military headquarters in Bambari.

It is owned by Canada's Axmin but was overrun by rebels more than a year ago and now forms part of an illicit economy driving sectarian conflict in the country.

At least 27 artisanal miners were buried in the collapse of the mine on Thursday and 25 bodies have been retrieved, Ahmat Negat, the rebel group's spokesman, said.

The mine collapse is the latest setback for the country, which has been beset by sectarian violence between the Seleka and Christian militia for over a year.

Newly installed interim Prime Minister Mahamat Kamoun named a government with five Seleka cabinet members on Friday in a bid to help stabilize the mineral-rich country.

A senior official at the Ministry of Mines confirmed the mine collapse and casualties. He said the mine did not follow regulations and miners were working in dangerous conditions.

"Nobody from our service is on the ground to regulate the miners so they dig without any rules. Lower than three metres it gets dangerous and with rain there can be collapses," the official, Georges Yacinth-Oubaouba, told Reuters.

At Ndassima, labourers toil under the gaze of Seleka gunmen to produce some 15 kilos of gold a month. This is worth roughly $350,000 on the local market, or double that in international trade.

Axmin suspended activity at the mine in late 2012 after rebels occupied its camp. The company has said since then that it was monitoring the situation at the mine. There was no immediate comment from the company.

NEW GOVERNMENT

The Seleka, a coalition that includes some fighters from neighbouring Chad and Sudan, seized power in March 2013, triggering sectarian violence with Christian militia in which thousands have died and more than a million people have had to flee their homes.

Some 2,000 French and 6,000 African Union peacekeepers have been deployed to Central African Republic but they have struggled to help the weak transitional government stamp its authority on the country.

Interim President Catherine Samba Panza took over after Seleka's leader, hardliner Michel Djotodia, resigned the presidency in January.

The Seleka initially rejected Panza's decision to appoint Kamoun, a senior advisor to Djotodia, as interim prime minister earlier this month, saying they were not consulted on his appointment and would not join any government he formed.

On Friday, however, Samba Panza pushed Kamoun to immediately form a government. His inclusion of five Seleka members in his 30-strong cabinet surprised some analysts.

"The positive thing is that the top military leaders of Seleka, those known to the international community ... as criminals or associated with crimes against the civilian population, are not part of this government," said Marcel Diki Kidiri, one of the country's leading intellectuals.

"As for the civilians who are now in government, we'll have to wait to see whether the actions they take in the coming months contribute to the country's stabilization," he told Reuters.

A 12,000-strong U.N. peacekeeping force is due to start deploying next month, with much of its staff coming from the existing mission in the country.

Most Muslims have fled the south of the country in the face of violence, creating a de facto partition, and some members of the Seleka leadership have pushed for this to be formalised.

(Writing by Matthew Mpoke Bigg; Editing by Susan Fenton)

Read the rest of the article at finance.yahoo.com
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Axmin Inc.

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CODE : AXM.V
ISIN : CA05461V2012
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Axmin is a gold development stage company based in Canada.

Axmin holds various exploration projects in Canada, in Central African Republic, in Ghana, in Mali, in Sierra Leone and in Tanzania.

Its main assets in development are KOMAHUN in Sierra Leone and PASSENDRO in Central African Republic and its main exploration properties are BAMBARI PERMIT ( PASSENDRO), POULOUBOU and BAMBARI (ROANDJI GOLD) in Central African Republic, KOFI in Mali and SIGA HILL AND MAGAMBA in Tanzania.

Axmin is listed in Canada and in United States of America. Its market capitalisation is CA$ 2.0 millions as of today (US$ 1.4 millions, € 1.3 millions).

Its stock quote reached its highest recent level on August 03, 2007 at CA$ 9.90, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Axmin has 130 497 381 shares outstanding.

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Annual reports of Axmin Inc.
2006 Annual Report
Financings of Axmin Inc.
3/25/2011Announces Issuance of Shares for Consulting Services
Nominations of Axmin Inc.
10/28/2013Announces Changes to Management and Board of Directors
7/4/2013Announces Appointment of Lucy Yan as Chairman and Interim Ch...
4/19/2013Announces Board Appointments
10/30/2012Accepts Resignation from Its Chairman
Financials of Axmin Inc.
4/30/2013-Files 2012 Financial Statements and Debt Mandate Update
Project news of Axmin Inc.
8/22/2014Rebel-held mine collapses in Central African Republic, killi...
7/29/2013(Passendro)Update on the Passendro Project and Changes to Management
6/29/2011(Komahun)Phase I Drilling Program Indicate Open Pit Potential at Koma...
6/1/2011(Komahun)Initial Drilling at AXMIN's Komahun Project Indicate Resourc...
1/27/2008(Komahun)Corporate report on projects
Corporate news of Axmin Inc.
11/24/2014AXMIN ANNOUNCES PRIVATE PLACEMENT
11/21/2014AXMIN Announces Private Placement
9/10/2014AXMIN Announces Results of the 2014 Annual and Special Meeti...
8/26/2014AXMIN Comments on Reports of Mine Collapse in the Central Af...
8/22/2014Mine collapse in Central African Republic kills 25
7/29/2014Gold, diamonds feed C. African religious violence
7/9/2014AXMIN Announces Shareholder Loan
3/16/2014AXMIN ANNOUNCES CHANGE OF AUDITOR
9/16/2013-Update on the Central African Republic Operations
6/26/2013Comments on Reports of Mine Collapse in the Central African ...
6/7/2013Announces Results of Annual and Special Meeting of Sharehold...
6/4/2013Notice of Annual and Special Meeting of Shareholders on Frid...
5/24/2013Closes Final Tranche of the Offering With Dickson Resources ...
5/23/2013Announces Shareholder Support for Control Person Resolution ...
4/10/2013Closes First Tranche of the Offering With Dickson Resources ...
4/2/2013CAR's Transitional Government Confirms it Will Honour AXMIN'...
3/27/2013Amends Subscription Agreement With Dickson Resources Limited
3/26/2013Monitors Events in the Central African Republic
3/25/2013Enters Into Subscription Agreement With Dickson Resources Li...
7/20/2011Executes Mandate Letter With the Standard Bank to Arrange an...
7/13/2011Senegal Joint Venture Continues to Intersect High Grades at ...
6/13/2011Senegal Joint Venture Continues to Intersect High Grades at ...
6/10/2011Announces Definitive Agreement for the Sierra Leone Asset Sp...
5/11/2011Announces Issuance of Shares for Consulting Services
5/9/2011Strengthens Mine Development Team With Appointment of Chief ...
5/5/2011Joint Venture Partner Teranga Gold Announces High Grade Gora...
3/17/2011(Passendro)Files NI 43-101 Technical Report Passendro Gold Project Reva...
3/17/2011(Passendro)Passendro Exploration Program Targets Pit Extensions and Fur...
3/1/2011Spins Off Sierra Leone Assets Into New Public Company
2/17/2011Announces Mine Development Advisory Agreement and President ...
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