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CIL to dump Mozambique investment only after government nod

By: Ajoy K Das     Updated 2 hours 31 minutes ago A final decision on producer Coal India Limited (CIL) aborting its Mozambique investments would only be taken in September or October, after the impact on diplomatic and economic bilateral relations between the two countries have been assessed. According to government officials, CIL’s... 

Trans Hex readies for hefty FY earnings jump

By: Natalie Greve     Updated 2 hours 37 minutes ago Diamond producer Trans Hex, which is finalising its results for the year ended March 31, 2015, expects earnings a share to increase by between 765% and 785% year-on-year to between 179c and 183c for the 12 months. Similarly, headline earnings a share were expected increase by between 725% and... 

Independence in A$1.8bn Sirius takeover, new ASX listing planned

By: Esmarie Swanepoel     Updated 2 hours 45 minutes ago The resources rumour mill proved true on Monday after metals miner Independence Group and nickel developer Sirius Resources announced merger plans, that valued Sirius at around A$1.8-billion. 

Independence in A$1.8bn Sirius takeover, new ASX listing planned

Evolution pays $550m for Barrick mine in NSW

By: Esmarie Swanepoel     Updated 2 hours 51 minutes ago Gold miner Evolution Mining on Monday announced that it would spend $550-million to acquire the Cowal gold mine, in New South Wales, from fellow Barrick Gold. Evolution executive chairperson Jake Klein described the acquisition as a “transformational” transaction for the company, pointing out... 

Hillgrove announce debt refinancing, equity raising and new MD

By: Esmarie Swanepoel     Updated 2 hours 54 minutes ago Copper miner Hillgrove Resources on Monday announced the refinancing of its debt facilities, along with an equity raising and the appointment of a new MD. The ASX-listed said the refinancing package would provide amortisation of debt repayments to align with the most recent life-of-mine plan for... 

Brumby eyes private miner Marindi

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed junior Brumby Resources has reached an agreement to acquire private zinc developer Marindi Metals for 250-million of its own shares, as well as 25-million options. Marindi was currently earning a 100% interest in the Newman base metals project, in Western Australia, on which more... 

Karara partners secure $1.5bn refinancing

By: Esmarie Swanepoel     Updated 3 hours ago The shareholders of the Karara iron-ore project, in Western Australia, have secured a $1.5-billion refinancing facility for the project. ASX-listed Gindalbie Metals, which holds a 47.84% share in the project, reported on Monday that the refinancing facility had been used to repay all outstanding... 

Frontier share price doubles on Gold Ridge buy

By: Esmarie Swanepoel     Updated 3 hours ago The share price of junior Frontier Resources doubled on Monday after the company announced that it would buy an 80% shareholding in the Gold Ridge mine, on the Solomon Islands. Fellow-listed gold miner St Barbara earlier in May completed the divestment of the Gold Ridge project to Solomon... 

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