IFM switches off furnaces in power buy-back deal with Eskom

Integrated ferrochrome producer International Ferro Metals (IFM) on Thursday said it had reached an agreement with Eskom to assist with the power utility's electricity supply requirements, by participating in its electricity buyback programme...

Karara iron-ore project, Australia

Gindalbie Metals has awarded a A$570-million mining contract for its Karara iron-ore project to Downer EDI Mining.

Karara iron-ore project, Australia

Gindalbie Metals has awarded a 15-year tailings management contract to logistics group BIS Industries for its Karara iron-ore project.

Karara iron-ore project, Australia

The latest reserves and resources defined at the Karara iron-ore project are expected to allow production of 30-million tons a year for a 35-year life-of-mine.

China may match India as top gold user on investment demand

Chinese consumption of gold may climb to rival that of India, the top user, as investors buy the metal as a store of value, GFMS and INTL FCStone have said.

Wesizwe says funding negotiations with Chinese ‘advanced’

Mining exploration company Wesizwe on Tuesday reported that negotiations with a Chinese consortium to secure a $877-million financing package to develop its flagship Frischgewaagd-Ledig project had now entered an "advanced" level. The JSE-listed...

Wesizwe gets R91m from Chinese for platinum project

JSE-listed platinum junior Wesizwe said on Monday it had signed a R91-million interim funding deal with the Bank of China for the development of its flagship Frischgewaagd-Ledig project in South Africa. Wesizwe said in a statement that the...

Karara construction teams moves into ‘top gear’ – Gindalbie MD

Iron-ore producer Gindalbie Metals has completed the initial drawdown under the $1,2-billion project loan facility for its Karara iron-ore project, in Western Australia, following the final regulatory approvals. The initial drawdown of the...

Gindalbie secures $1,2bn project loan from China

Iron-ore developer Gindalbie Metals has signed a $1,2-billion project loan facility with the China Development Bank to underpin the development of its Karara iron-ore project, in Western Australia. Gindalbie, and its joint venture (JV) partner...

Gindalbie to raise A$206m for WA iron-ore mine

Iron-ore miner Gindalbie Metals on Thursday announced that it would raise up to A$206,4-million through a share placement, to further develop is Karara iron-ore project, in Western Australia. The company said in a statement that the capital...

$1,2bn WA iron-ore project inches yet closer to implementation

Emerging iron-ore producer Gindalbie Metals has signed a mandate letter and term sheet for a $1,2-billion loan facility for its Karara iron-ore project, in Western Australia, which would initially produce ten-million tons yearly. The miner said...

International Ferro Metals swings to R338m FY loss

South Africa-focused ferrochrome producer International Ferro Metals (IFM) on Monday reported a loss of R338,5-million for the financial year ended June 2009, compared with a profit of R578,1-million recorded in the previous year. IFM CEO David...