VENTURE CAPITAL POST

Johannesburg, South Africa-based banking network Nedbank Capital is looking for new mining investment destinations in Africa, aside from gold explorations in Tanzania, Ghana, and Burkina Faso.

West Perth, Australia-based public exploration and mining firm Golden Rim Resources raised $491,000 in placement to continue developing its Balogo project in Burkina Faso, Africa while the firm is still trying to determine other funding options.

African mineral exploration activity is poised to drop by 15% to 20% in 2014 as sources of funding have dried up due to difficult economic problems, according to David Cox, senior sales executive of SNL Metals Economic Group.

Vancouver-based gold producer B2Gold Corp said it signed a definitive agreement with Canadian resource company Volta Resources Inc for the business combination of the two companies.