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Gold price reform to focus on improved transparency, governance controls

By: Chantelle Kotze Instead of scrapping the century-old London Gold Fix altogether, gold industry role-players are calling for the modernisation of the method used to determine global gold price benchmarks, which is currently the subject of ‘intense’ debate, but not regarded as fundamentally broken. This comes... 

Gold price reform to focus on improved transparency, governance controls

By: Chantelle Kotze Instead of scrapping the century-old London Gold Fix altogether, gold industry role-players are calling for the modernisation of the method used to determine global gold price benchmarks, which is currently the subject of ‘intense’ debate, but not fundamentally regarded as broken. 

Continental Coal to recapitalise balance sheet

By: Leandi Kolver South Africa-focused thermal coal producer Continental Coal on Wednesday announced that it had successfully arranged a fully underwritten nonrenounceable pro rata rights issue to raise about A$35.1-million to recapitalise the company’s balance sheet. The offer, for which the prospectus would be... 

Thabo Gumbi

By: Martin Creamer Main Activity of the Company: Unlocking human potential and serving mines, mineworkers and community Date and Place of Birth: May 10, 1981, Soweto, Johannesburg Education: Elsie Ngidi Primary School, Chiawelo, Soweto; Siyamukela High School, Madadeni, Newcastle; Marketing Degree, University of... 

Full transparency needed in gold, platinum price determinations in wake of UK manipulation disclosure

By: Martin Creamer Full transparency is needed in the determination of the gold price and platinum price following the worrying manipulation finding of the UK’s Financial Conduct Authority (FCA) in the case of gold. To restore credibility, a bright searchlight needs to be kept on both pricing systems, which impact... 

Full transparency needed in gold, platinum price determinations  

By: Martin Creamer Full transparency is needed in the determination of the gold and platinum prices following the worrying manipulation finding of the UK’s Financial Conduct Authority (FCA) in the case of gold. To restore credibility, a bright searchlight needs to be kept on both pricing systems, which impact the... 

Two palladium ETFs list on JSE within one week

By: Chantelle Kotze An increase in demand for precious metal exchange-traded funds (ETFs) from institutional investors has resulted in the listing of two palladium ETFs on the JSE in one week. 

Mozambique coal train attack, R200m Evander gold project, dump retreat, closure vision

By: Martin Creamer Concern over Vale Mozambique coal train attack; R200-million project to recover gold from dumps; vision for profitable rehab of dumps for postmining economy. 

Pan African board approves R200m Evander tailings retreatment project

By: Natalie Greve Following the acquisition of the Mpumalanga-based Evander Gold Mines from Harmony Gold in March last year, dual-listed Pan African Resources on Friday announced that the construction of its R200-million Evander tailings retreatment project (ETRP) was approved. The ETRP would exploit... 

Creamer Media publishes African Mining Roundup research report

This month’s report includes details of metals explorer Legend Mining’s share sale and debt assignment agreement with a subsidiary of Jindal Steel and Power to divest of its interest in the Ngovayang iron-ore and gold project, in Cameroon; financial services provider Absa Bank’s agreement to... 

Determined Daphne still set on realising her manganese smelting dream

By: Martin Creamer President Jacob Zuma last Friday launched the Stanley Nqobizizwe Nkosi manganese sinter plant near Hotazel, in the Northern Cape, marking the latest high point of Daphne Mashile-Nkosi’s long walk to emancipating manganese from the sole preserve of the male species. Mashile-Nkosi, a 55-year-old... 

Determined Daphne still set on realising her manganese smelting dream

By: Martin Creamer President Jacob Zuma last Friday launched the Stanley Nqobizizwe Nkosi manganese sinter plant near Hotazel, in the Northern Cape, marking the latest high point of Daphne Mashile-Nkosi’s long walk to emancipating manganese from the sole preserve of the male species. Mashile-Nkosi, a 55-year-old... 

Firestone secures $82.4m project debt finance for Lesotho diamond project

By: Leandi Kolver Aim-listed diamond development company Firestone Diamonds on Monday announced that Absa Bank had received approval from its credit committee to provide Firestone’s 75%-owned subsidiary Liqhobong Mining Development Company (LMDC) up to $82.4-million in debt finance. LMDC owns 100% of the Liqhobong... 

Zimbabwe eyed as heir to platinum throne as SA loses grip – SFA Oxford

By: Martin Creamer With South Africa’s once mighty grip on the world platinum market slipping, exasperated end-users are eyeing Zimbabwe as the heir to the platinum throne, top global platinum consultant Stephen Forrest said on Thursday. Forrest, in South Africa for the Joburg 2013 Investing in Resources and... 

Absa’s NewGold ETF lists on Mauritius Stock Exchange

By: Natalie Greve In its drive to further expand into African markets, Absa Bank’s corporate and investment banking division on Thursday announced that it would list its NewGold exchange-traded fund (ETF) on the Mauritius Stock Exchange (SEM), on July 26. The listing on the SEM would mark the fifth exchange... 

Gold ETF to list on SEM, set for further expansion

By: Samantha Moolman In its endeavour to meet demand and further its expansion into Africa, Absa Bank’s corporate and investment banking division will list its NewGold exchange traded fund (ETF) on the Mauritius Stock Exchange (SEM) this quarter, says the division’s investments head Vladimir Nedeljkovic. NewGold ETF... 

Company Announcement: Continental Coal Company Update

Continental Coal Limited the South African thermal coal production, development and exploration company, notes the recent trading in its securities and would like to update shareholders that it is not aware of any reason for the recent fall in its share price given the current status of its coal... 

Ian Harebottle

By: Martin Creamer Position: CEO Gemfields Main Activity of the Company: Coloured gemstone mining and promotion  

Gold producer executes a mandate and term-sheet debt facility

ASX and JSE-listed gold producer Gold One International has executed a mandate and term sheet for a $65-million debt facility, with international banks Absa Capital, a division of Absa Bank, and BNP Paribas.  

Investment bank lists 
on the BSE

The investment banking division of Absa Bank, Absa Capital has listed its NewGold exchange traded fund (ETF) on the Botswana Stock Exchange (BSE) in mid-July 2010.

 

Absa Capital lists NewGold ETF on Botswana exchange

Absa Capital, the investment banking division of Absa Bank, listed its NewGold exchange traded fund (ETF) on the Botswana Stock Exchange (BSE) on Tuesday. It listed 1,6-million NewGold securities on the BSE.  

Wesizwe delays Frischgewaagd mine development

By: Mariaan Webb South African platinum junior Wesizwe has delayed the construction of its 350 000 oz/y Frischgewaagd-Ledig project, until market conditions improve and it could obtain sufficient funding for construction. The JSE-listed company initially planned to start production ramp-up in 2011, reaching... 

Gold Fields raises R568m, says Absa Capital

The investment banking division of Absa Bank, Absa Capital, has raised R568-million on behalf of South African miner Gold Fields under the gold producer’s Bond Exchange of South Africa (Besa)-listed R10-billion domestic medium-term note programme. Absa Capital, as sole lead arranger and... 

Zimplats expansion, Zimbabwe

By: Sheila Barradas The expansion project will allow for the development of mining portals 1 and 4 at Ngezi. 

Zimplats expansion, Zimbabwe

By: Sheila Barradas The expansion project will allow for the development of mining portals 1 and 4 at Ngezi, in Zimbabwe, including the construction of a new concentrator. 

GijimaAst appointed Anglo American's information technology support provider

By: Brindaveni Naidoo Information and communication technology (ICT) company GijimaAst has been appointed the national ICT support service company for mining giant Anglo American. 

Zimplats expansion, Zimbabwe

By: Sheila Barradas The Zimplats expansion project will allow for the development of mining portals 1 and 4 at Ngezi, in Zimbabwe. 

Zimplats expansion

The expansion programme entails the construction of eight underground mines at Zimbabwe Platinum Mine's (Zimplats) Ngezi site north of Harare, an expansion of its smelter and the reopening of its base-metals refinery. 

Zimplats expansion

The expansion programme entails the construction of eight underground mines at Zimbabwe Platinum Mine's (Zimplats) Ngezi site north of Harare, an expansion of its smelter and the reopening of its base-metals refinery. 

Zimplats expansion

The expansion programme entails the construction of eight underground mines at Zimbabwe Platinum Mine's (Zimplats) Ngezi site north of Harare, an expansion of its smelter and the reopening of its base-metals refinery. 

Sexwale recommits to mining through R1,2bn deal

By: Terence Creamer Diversified empowerment entity Mvelaphanda Group is to sell its 22,9% shareholding in JSE-listed Mvelaphanda Resources to Mvelaphanda Holdings for R 1,18-billion in cash, the equivalent of R31 a Mvela Resources share. In addition, Mvelaphanda Holdings would acquire a further six per cent... 

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