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Kibo raises £950 000 through share placement

By: Natalie Greve     Updated 23 minutes ago Tanzania-focused mineral explorer Kibo Mining has received commitments to a share placing of 19-million new ordinary shares at a placing price of 5p apiece to raise gross proceeds of £950 000. “We are very pleased to undertake this placing, primarily because of the strategic advantage of... 

Year-to date diamond prices soften for Trans Hex

By: Natalie Greve     Updated 1 hour 3 minutes ago Year-to-date production at diamond producer Trans Hex’s South African operations reached 52 667 ct by the end of January, with 32 450 ct produced in the six months ended September 31 and 20 217 ct produced in the four-month period between October and the end of January. The group’s Somiluana... 

Rukwa feasibility, financial studies map out potential 300 MW power plant

By: Natalie Greve     Updated 2 hours 21 minutes ago A feasibility study and financial model of Edenville Energy’s proposed Rukwa coal-to-power project, in Western Tanzania, have suggested a two-phase construction period that could see the development of an integrated coal mine and power plant boasting generating capacity of some 300 MW. Under the... 

Turbines boosting mine power – AngloGold

By: Martin Creamer     Updated 2 hours 29 minutes ago Gold major AngloGold Ashanti is installing turbines in underground mines to boost energy regeneration, as part of a strategy of recovering electricity without spending significant amounts of capital. “What we’ve done is put in energy regeneration and capture plants in the form of turbines at two... 

Turbines boosting mine power – AngloGold
Photo by Creamer Media
Mike O'Hare

Medupi Unit 6 to enter stable operations in 'three months' as sync is confirmed

By: Terence Creamer     Updated 3 hours ago State-owned electricity utility Eskom announced that first power was produced at 11:03 on Monday March 2, 2015, from Medupi Unit 6, marking a major milestone for the coal-fired power station project, which has been plagued by delays and cost overruns associated with technical and labour problems.... 

Medupi Unit 6 to enter stable operations in 'three months' as sync is confirmed

Gemfields auctions realise $14.95m in revenue

By: Creamer Media Reporter      Updated 4 hours ago The latest auctions of emerald and beryl and amethyst mined at Aim-listed Gemfields’ operations have realised revenues of $14.95-million. The third auction of emeralds and beryl from the company’s 75%-owned Kagem mine, in Zambia, for the current financial year, saw the sale of 10.1-million carats... 

Mitsui cuts zinc premiums for first time in 6 years as China exports rise

By: Reuters     Updated 4 hours ago Japan's biggest zinc smelter, Mitsui Mining and Smelting, has slashed its annual premiums to overseas buyers for 2015 by around 10%, marking the first cut in six years as rising exports by top user China spill into the region. Premiums are a surcharge paid to producers on top of futures prices to... 

Metallum raises cash to fund Chile operations

     Updated 4 hours ago unior copper developer Metallum on Monday announced a A$560 000 capital raising to fund its activities in Chile. The company reported that it had received firm commitments to subscribe for 56-million ordinary shares at A$0.01 a share.  

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