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Latest News

Cliffs completes refinancing transactions

By: Henry Lazenby     Updated 12 minutes ago NYSE-listed Cliffs Natural Resources has entered into a new senior secured asset-based revolving credit facility (ABL facility) and has completed a private offering of $540-million total principal amount of 8.25% senior secured notes due on March 31, 2020, the company announced on Monda.... 

Chile Feb copper output falls 1.1% from year earlier

By: Reuters     Updated 39 minutes ago World No 1 copper producer Chile produced 447 810 t of copper in February, a 1.1% decrease from a year earlier, due to plant maintenance at a key project, the government said on Monday. 

Miners Teck, Antofagasta deny they are in merger talks

By: Reuters     Updated 41 minutes ago Teck Resources and Antofagasta denied on Monday that they were in talks about a merger after Bloomberg news reported that the two mining companies were in early stage talks. Teck said in statement it was not in discussions with Antofagasta "in relation to any form of transaction." 

Alcoa shutters São Luís facility in Brazil

By: Henry Lazenby     Updated 43 minutes ago Aluminium and lightweight metals producer Alcoa will close its São Luís (Alumar) facility, in Brazil, the company said on Monday. NYSE-listed Alcoa it would curtail the remaining 74 000 metric tons of smelting capacity as part of its plans to evaluate upstream capacity for possible curtailment,... 

Buffalo Coal closes $4m bridge loan

By: Henry Lazenby     Updated 4 hours ago TSX- and JSE-listed miner Buffalo Coal has closed a $4-million loan facility from Resource Capital Fund (RCF), which the company planned to use for its continued restructuring efforts. The company said that despite the restructuring initiatives that had been implemented throughout the group... 

Master Drilling sees 32% increase in headline earnings per share

By: Anine Vermeulen JSE-listed Master Drilling’s headline earnings a share increased to $0.12 in the year ended December 31, 2014, compared with $0.10 a share the year before. Revenue rose to $132.03-million in the year under review, compared with $119.69-million in 2013. 

DEA requests additional info on proposed KiPower IPP

By: Zandile Mavuso The Department of Environmental Affairs (DEA) has requested additional information to the final environmental-impact assessment (EIA) report submitted to it for the proposed construction of the 600 MW coal-fired independent power producer (IPP) plant and associated infrastructure for Kuyasa... 

DEA requests additional info on proposed KiPower IPP

Goldplat reports weighty losses for 2014

By: Megan van Wyngaardt Aim-listed gold producer Goldplat has suffered a £377 000 pre-tax loss and an £827 000 operating loss for the six months ended December 31, 2014, owing to the impact of refinery problems at its operations and increased exposure to gold price fluctuations. The Africa-focused miner said that, while... 

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