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Harmony in talks with unions to slash over 3 000 jobs – NUM

By: Reuters     Updated 8 minutes ago South African gold producer Harmony Gold is in talks with unions to cut more than 3 000 jobs at its Doornkop mine, the National Union of Mineworkers said on Friday. Officials at Harmony could not be reached for comment. 

Bauba appoints new FD, directors

By: Creamer Media Reporter      Updated 2 hours 24 minutes ago JSE-listed Bauba Platinum has appointed Carl-Heinz Gernandt to succeed Willem Moolman as FD, effective May 30. Gernandt obtained a BCom internal auditing degree from the University of Pretoria in 2002 and was a member of the Association of Certified Chartered Accountants and Certified General... 

Japan push into Africa resources sputters, helps China

By: Reuters     Updated 2 hours 43 minutes ago A Japanese government drive to secure access to resources in Africa has sputtered as some companies shy away from investing due to slumping commodity prices and worries over political stability, helping China as it races to import raw materials from the continent. Around two years ago, Japan said... 

CIL incremental production to be offered under auctioned supply linkages

By: Ajoy K Das     Updated 2 hours 55 minutes ago In a bid to placate opposition, India’s Coal Ministry has proposed that only incremental coal produced by Coal India Limited (CIL) would be earmarked for supplies through auctioned linkages to user industries. According to a proposal firmed up by an inter-Ministerial committee, user industries... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit

By: Martin Creamer     Updated 3 hours ago Banks have fallen over themselves to grant an eventual $15.25-billion worth of revolving credit facilities to diversified mining and marketing major Glencore, as part of a refinancing exercise. Initially launched at $14-billion, the credit facilities of the London-, Hong Kong- and... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit
Photo by Bloomberg
Iavn Glasenberg

Mongolia to issue $1bn in bonds to help ease cash shortfall

By: Reuters     Updated 4 hours ago Mongolia plans to issue a $1-billion debt offering to put its fiscal affairs back in order, it said on Thursday, as it tries to ride a wave of good will that arose from a $6-billion deal with global miner Rio Tinto for its giant Oyu Tolgoi copper mine. According to a statement from Thursday's... 

Atlas Iron boosts Pilbara resource

By: Esmarie Swanepoel     Updated 4 hours ago Iron-ore miner Atlas Iron has reported a 25% increase in the total mineral resource at its Corunna Downs project, between its Mt Webber and McPhee Creek projects, in the Pilbara. The resource increase followed on from a maiden inferred mineral resource for the Glen Herring deposit, which was... 

Bookbuild shows ‘strong support’ for Cowal acquisition – Evolution chair

By: Esmarie Swanepoel     Updated 5 hours ago Gold miner Evolution Mining on Friday completed the institutional component of its accelerated renounceable entitlement offer, raising A$172-million to assist in funding the acquisition of the Cowal mine, in New South Wales. The institutional entitlement offer formed part of the larger... 

Bookbuild shows ‘strong support’ for Cowal acquisition – Evolution chair
Evolution is buying the Cowal mine from Barrick Gold for $550-million.

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