Exploration company Glencar has announced plans for a joint venture with South African company Gold Fields.
Under the deal, Gold Fields could take a stake of up to 65% in Glencar's Komana licence in Mali in return for spending up to $32m on the project.
As part of the deal, Gold Fields will eventually invest $3.2m in Glencar for a stake of 15%.
Meanwhile, exploration company Tullow Oil has announced that further drilling at two wells in Africa have found oil-bearing sands.
The wells are the Tweneboa-1 off Ghana - where an initial discovery was reported earlier this month - and the Karuka-2 well in Uganda.
