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Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal

By: Martin Creamer     Updated 1 hour 2 minutes ago Platinum mining company Northam on Wednesday concluded a fully funded ten-year R6.6-billion black economic-empowerment (BEE) equity transaction underpinned by a R4.6-billion capital raising, which has the potential to position the JSE-listed company as a fully integrated, fully empowered South... 

Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal
Photo by Duane Daws
Northam Platinum CEO Paul Dunne

China overseas direct investment seen rising 10% a year

By: Reuters     Updated 1 hour 51 minutes ago China's overseas direct investment is projected to rise at least 10% annually for the next five years, a trend that will soon make the country a net capital exporter, a senior commerce ministry official said on Wednesday. "It's only a matter of time," said Zhang Xiangchen, an assistant minister... 

Baosteel taps ex-junior miner CEO for Australia iron ore project

By: Reuters     Updated 2 hours 7 minutes ago China's Baosteel has snared the former boss of Iron Ore Holdings (IOH) to lead the development of its West Pilbara Iron Ore project in Australia, in a blow to IOH's new owner, BC Iron Ltd. BC Iron said on Wednesday former IOH MD Alwyn Vorster had resigned from the board of BC Iron as he had... 

Shaw River signs offtake deal with Noble

By: Esmarie Swanepoel     Updated 2 hours 9 minutes ago ASX-listed Shaw River Manganese on Wednesday announced that it had secured an offtake agreement with Noble Resources International for up to 30 000 t of manganese from its flagship Otjozondu project, in Namibia. The sales contract was structured for fixed pricing, at different product... 

Sibanye maintains FY output guidance

By: Creamer Media Reporter      Updated 2 hours 30 minutes ago Gold miner Sibanye Gold has maintained its output guidance for 2014 at 1.61-million ounces. The company, which would release an operating update for the third quarter on October 28, on Tuesday said total cash costs for the year to end December 31 would be about $850/oz, while all-in sustaining... 

MCA pushes for greater policy reform

By: Esmarie Swanepoel     Updated 2 hours 43 minutes ago While complementing the Tony Abbott-led government on its policy reforms aimed at reducing the red tape burden on Australian businesses, the Minerals Council of Australia (MCA) on Wednesday called for an even greater reform. On the Spring Repeal Day, the Abbott government introduced legislation... 

Sumatra signs documents for Tembang finance

By: Esmarie Swanepoel     Updated 4 hours ago Gold hopeful Sumatra Copper & Gold has executed the documentation for its $45-million funding facility for its Tembang gold project, in Indonesia. Earlier this month, Sumatra announced that it had secured the senior debt facility with Nomura Singapore and Indonesia Eximbank. 

Cape Lambert to fund Timis Mining’s Marampa buy

By: Esmarie Swanepoel     Updated 4 hours ago Resource investment company Cape Lambert on Wednesday announced that it had entered into a term sheet with Timis Mining to provide that company with about $20-million for its planned acquisition of the Marampa iron-ore project, in Sierra Leone, from the administrators of London Mining. Under the... 

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